Document:

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                                                                   EXHIBIT 10.21

                               SIXTH AMENDMENT TO
                           LOAN AND SECURITY AGREEMENT
                              AND WAIVER AGREEMENT

         THIS SIXTH AMENDMENT TO LOAN AND SECURITY AGREEMENT, made the 13th day
of August, 2001 (this "Amendment"), is by WOMEN'S GOLF UNLIMITED, INC., a New
Jersey corporation, formerly known as S2 Golf Inc., which is the survivor of a
merger with S2 Golf Acquisition Corp., having its principal place of business at
18 Gloria Lane, Fairfield, New Jersey 07004 ("Borrower") and PNC BANK, NATIONAL
ASSOCIATION (successor in interest to Midlantic Bank, National Association), a
national banking association, having offices at Two Tower Center Boulevard, 8th
Floor, East Brunswick, New Jersey 08816 ("Lender").

                              W I T N E S S E T H:

         WHEREAS, Lender and Borrower are engaged in a commercial lending
relationship pursuant to a certain Loan and Security Agreement as of December
29, 1994, as amended April 9, 1996, as of December 1, 1997, as of September 23,
1998, as of July 31, 2000, and as of January 3, 2001 (collectively referred to
herein as the "Loan Agreement"), pursuant to which Lender has advanced and may
in the future advance certain sums of money to Borrower and Borrower has agreed
to repay same;

         WHEREAS, Borrower and Lender have negotiated certain amendments to the
terms and conditions of their commercial lending relationship, including but not
limited to, modifications to the Tangible Net Worth Covenant and the definition
of Fixed Charge Coverage;

         WHEREAS, it is both necessary and appropriate to amend certain terms
and conditions of the Loan Agreement in order to memorialize the terms of their
understandings; and

         WHEREAS, Borrower and Lender wish to set forth the terms and conditions
of the amendments to the Loan Agreement by this writing.

         NOW, THEREFORE, in consideration of the mutual covenants and agreements
herein contained and other good and valuable consideration, receipt of which is
hereby acknowledged, it is agreed as follows:

                                    ARTICLE I

                     DEFINITIONS AND AMENDMENT TO DEFINITION

         1.01 PREVIOUSLY DEFINED TERMS. All of the capitalized terms not
expressly defined in this Amendment shall have the meanings ascribed to such
terms in the Loan Agreement.

<PAGE>

         1.02 AMENDMENTS TO PREVIOUSLY DEFINED TERMS. The Loan Agreement is
hereby amended to delete the definition of Fixed Charge Coverage, in its
entirety, and replace it with the following:

                    "Fixed Charge Coverage" shall mean the quotient of (a) the
              difference between EBITDA and Capital Expenditures; divided by (b)
              scheduled principal and interest payments due on all outstanding
              principal indebtedness for money borrowed by Borrower, with the
              exception of payments due under the promissory note in the
              approximate amount of One Million Dollars ($1,000,000.00) the
              balance which is due and payable in full to the sellers in the
              Lady Fairway transaction during the fiscal year 2001, which
              quotient is calculated in accordance with GAAP consistently
              applied from period to period on a Rolling Twelve-Month Basis as
              of the end of each fiscal quarter."

                                   ARTICLE II

                        AMENDMENTS TO THE LOAN AGREEMENT
                         RELATING TO TANGIBLE NET WORTH

         NEGATIVE COVENANT REGARDING TANGIBLE NET WORTH. Section 6.19 of the
Loan Agreement is deleted in its entirety and replaced with the following:

              6.19 TANGIBLE NET WORTH. Commencing with the quarter ending June
              30, 2001, cause or permit Tangible Net Worth, as of the time of
              any determination thereof, to be or become less than One Million
              Four Hundred Thousand Dollars ($1,400,000.00); the term "Tangible
              Net Worth" meaning the difference between (a) the sum of (i) the
              par value (or value stated on the books of Borrower) of the
              capital stock of all classes of Borrower, plus (or minus in the
              case of a deficit) (ii) the amount of Borrower's surplus, whether
              capital or earned, less (b) the sum of treasury stock, unamortized
              debt discount and expense, good will, trademarks, trade names,
              patents, deferred charges (exclusive of deferred taxes), leasehold
              improvements and other intangible assets, and any write-up of the
              value of any assets, all determined on a consolidated basis, in
              accordance with generally accepted accounting principles, applied
              on a consistent basis.

                                   ARTICLE III

                                WAIVER AGREEMENT

         3.01 Borrower hereby acknowledges that Borrower failed to comply with
Section 6.19 "Tangible Net Worth" of the Loan Agreement. Section 6.19 of the
Loan Agreement requires that Borrower's Tangible Net Worth be not less than
$2,200,000 at any time from and after Janu-

                                       2
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ary 1, 2001. As of March 31, 2001 however, the Borrower's Tangible Net Worth was
less than required. This failure to comply constitutes an Event of Default under
the Loan Agreement.

         3.02 Borrower has requested that Lender waive the rights and remedies
available to it as the result of the existence of the Event of Default
enumerated in section 3.01 above.

         3.03 Lender hereby waives the right to exercise the rights and remedies
which are available to Lender pursuant to the Loan Agreement, at law and in
equity as a result of the existence of the Events of Default enumerated in
section 3.01 above. This waiver is specific to the Event of Default described in
section 3.01 above. This waiver is not intended and shall not be deemed to
extend to any other Event of Default whether known or unknown which may
presently exist under the Loan Agreement or which may occur hereafter.

                                   ARTICLE IV

                         REPRESENTATIONS AND WARRANTIES

         Borrower represents and warrants to Lender, knowing and intending that
Lender will rely thereon in entering into this Amendment, that the following
statements are true and accurate:

         4.01 AFFIRMATION OF REPRESENTATIONS. All of the representations and
warranties contained in Section 4 of the Loan Agreement are, immediately after
the execution and delivery of this Amendment, true and accurate as of the date
hereof with the same force and effect as though such representations and
warranties had been more fully set forth herein and made on the date hereof.

         4.02 DUE AUTHORIZATION: NO DEFAULT.

              (a) The execution, delivery and performance by Borrower of this
Amendment are within Borrower's powers, have been duly authorized by all
necessary action on the part of the Borrower and (i) do not and will not (A)
require any consent or approval of the stockholders of the Borrower, or (B)
constitute or result in a breach of, or default under (with due notice or
passage of time or both) any agreement, undertaking, or instrument to which
Borrower is a party or by which it may be affected, or (C) result in the
creation or imposition of any lien or restriction on any assets of Borrower,
other than liens in favor of Lender, and (ii) are not and will not be prevented
or limited by, or violate, conflict with or breach either Borrower's Certificate
of Incorporation or By-laws, or any applicable law or regulations, or any
judgment, order, award or decree of any judicial body or other governmental
authority or arbitrator applicable to Borrower or any of Borrower's assets.

              (b) This Amendment upon its delivery will have been duly executed
and delivered by the Borrower and the Loan Agreement, as amended by this
Amendment, will be legal, valid and binding obligations of Borrower, enforceable
against Borrower in accordance with its terms and provisions except as may be
limited by applicable bankruptcy, insolvency,

                                       3
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moratorium, reorganization or similar laws from time to time in effect that
affect creditors' rights generally.

         4.03 NO GOVERNMENTAL CONSENT NECESSARY. No authorization, approval or
other action by, and no notice to or filing with, any Person or governmental
authority or regulatory body is required for the due execution, delivery and
performance by Borrower of this Amendment or any of the Relevant Documents.

         4.04 PROCEEDINGS. There is no claim, action, suit, proceeding, inquiry,
hearing or investigation pending or (to the knowledge of Borrower) threatened
against Borrower or any of its assets, in any court of law or equity, or before
or by any federal, state or local governmental authority or before any
arbitrator. There are no unsatisfied judgments or awards against Borrower or any
of its assets.

         4.05 BROKERAGE COMMISSIONS. No Person is entitled to receive from
Borrower any brokerage commission, finder's fee or similar fee or payment in
connection with the consummation of the transactions contemplated by this
Amendment. No brokerage or other fee, commission or compensation is to be paid
by Lender by reason of any act, alleged act or omission of Borrower with respect
to the transactions contemplated hereby.

         4.06 NO DEFENSES TO PAYMENT. Borrower has no defenses to the repayment
of the Obligations and has no claims or rights of set-off against Lender in
connection with the Obligations.

                                    ARTICLE V

                                  MISCELLANEOUS

         5.01 ENTIRE AGREEMENT; AMENDMENTS; LENDER'S CONSENT. This Amendment
supersedes, with respect to its subject matter, all prior and contemporaneous
agreements, understandings, inducements or conditions between the respective
parties, whether expressed or implied, oral or written. No amendment or waiver
of any provision of this Amendment, nor consent to any departure by Borrower
therefrom, shall in any event be effective unless the same shall be in writing
and signed by Lender, and then such waiver or consent shall be effective only in
the specific instance and for the specific purpose for which given.

         5.02 GENDER. Throughout this Amendment, the masculine shall include the
feminine and vice versa and the singular shall include the plural and vice
versa, unless the context of this Amendment indicates otherwise.

         5.03 BINDING EFFECT; GOVERNING LAW. This Amendment shall be binding
upon and inure to the benefit of Borrower and Lender and their respective
successors and assigns, except that Borrower shall not have the right to assign
its rights hereunder or any interest herein without the prior written consent of
Lender. This Amendment and the other documents delivered in connection with this
Amendment shall be governed by, and construed in accordance with, the

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laws (both substantive and procedural, and without reference to conflicts of
laws) of the State of New Jersey.

         5.04 SEVERABILITY OF PROVISIONS. Any provision of this Amendment that
is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions of this Amendment
or affecting the validity or enforceability of such provision in any other
jurisdiction.

         5.05 HEADINGS. The headings preceding the text of this Amendment are
inserted solely for convenience of reference and shall not constitute a part of
this Amendment nor affect its meaning, construction or effect.

         5.06 LOAN AGREEMENT; FULL FORCE AND EFFECT. Except, and solely to the
extent, that the same has been specifically modified, amended or supplemented
herein, all of the terms and conditions of the Loan Agreement shall remain in
full force and effect.

         5.07 NO WAIVER OF DEFAULT. Borrower hereby acknowledges and agrees that
the execution, delivery and performance of this Amendment by Lender is not
intended, and shall not be deemed, to be a waiver or release of any Event of
Default as defined under the Loan Agreement, and that Lender reserves all of its
rights and remedies to which it may be entitled, whether an Event of Default
occurred at, before or after the date of this Amendment.

         5.08 WAIVER OF TRIAL BY JURY. TO THE FULL EXTENT PERMITTED BY LAW,
BORROWER AND LENDER HEREBY WAIVE THEIR RIGHT TO TRIAL BY JURY IN ANY LITIGATION
RELATING TO THE LOAN AGREEMENT OR THE RELEVANT DOCUMENTS.

         5.09 CONFLICTS WITH LOAN AGREEMENT. If any term, condition or provision
of this Amendment is inconsistent or conflicts with any term, condition or
provision of the Loan Agreement, the term, condition or provision of this
Amendment shall govern to the extent of such inconsistency or conflict.

         5.10 CONDITIONS PRECEDENT. The effectiveness and enforceability of this
Amendment are conditioned on the consummation of the following conditions
precedent:

         (i) The execution by Borrower, and delivery to Lender, of this
Amendment and such other documents as Lender shall deem to be required,
necessary or desirable in its reasonable judgment;

         (ii) Receipt by Lender of such other documents, reports and evidence as
Lender shall require in its sole and absolute discretion.

         (iii) Payment by Borrower of all fees and expenses incurred by Lender's
counsel in the preparation and closing of this Amendment.

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<PAGE>

         IN WITNESS WHEREOF, the undersigned have set their hands and seals or
caused these presents to be executed by duly authorized corporate officers and
sealed with their seal the day and year first above written.

                                        WOMEN'S GOLF UNLIMITED, INC.

                                        By: /s/ Douglas A. Buffington
                                        Name:  DOUGLAS A. BUFFINGTON
                                        Title:    President

                                        PNC BANK, NATIONAL ASSOCIATION

                                        By: /s/ Manuel R. Borges
                                        Name:  Manuel R. Borges
                                        Title:    Assistant Vice President

                                       6
<PAGE>

STATE OF              :
                      : SS.
COUNTY OF             :

        On the ______ day of August, 2001, before me personally came DOUGLAS A.
BUFFINGTON, who, being duly sworn by me, stated that he is the President of
WOMEN'S GOLF UNLIMITED, INC., a New Jersey corporation, and that he, as the said
President, and with the authority of the board of directors of said corporation,
executed the instrument set forth above on behalf of said corporation as its
voluntary act and deed.

                                ------------------------------
                                Name:

                                Notary Public of the State of
                                                              ----------
                                My commission expires:
                                                       -----------------

                                       7<PAGE>
                                                                    EXHIBIT 10.1

            FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT
            --------------------------------------------------------

         THIS FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT, dated as
of September 21, 2001 (this "Amendment"), is among DAY INTERNATIONAL GROUP,
INC., a Delaware corporation (the "Borrower"), the several banks and other
financial institutions or entities from time to time parties to this Agreement
(the "Lenders"), BANC ONE CAPITAL MARKETS, as advisor and arranger (in such
capacity, the "Arranger"), and BANK ONE, NA, as administrative agent (in such
capacity, the "Administrative Agent").

                                     RECITAL
                                     -------

                  A. The Borrower, the Lenders, the Arranger and the
Administrative Agent are parties to an Amended and Restated Credit Agreement
dated as of October 19, 1999, as modified by an Agency Assignment Agreement
dated June 29, 2001 (the "Credit Agreement").

                  B. The Borrower has requested that the Administrative Agent
and the Lenders amend the Credit Agreement as set forth herein, and the
Administrative Agent and the Lenders are willing to do so strictly in accordance
with the terms hereof.

                                      TERMS
                                      -----

                  In consideration of the premises and of the mutual agreements
herein contained, the parties agree as follows:

                  ARTICLE I. AMENDMENTS. Upon fulfillment of the conditions set
forth in Article III hereof, the Credit Agreement shall be amended as follows:

                  1.1 Section 1.1 of the Credit Agreement is amended by adding
the following definitions in appropriate alphabetical order:

         "FIRST AMENDMENT" means the First Amendment to this Agreement dated as
of September , 2001.

         "FIRST AMENDMENT EFFECTIVE DATE" shall mean the date all the conditions
to the effectiveness of the First Amendment are satisfied.

         "BANK ONE" Bank One, NA, a national banking association having its
principal office in Columbus, Ohio, in its individual capacity, and its
successors.

                  1.2 Section 1.1 of the Credit Agreement is amended by
restating the definitions of "Base Rate", "Borrowing Base", "Consolidated Fixed
Charge Coverage Ratio", and "Consolidated Fixed Charges" as follows:

         "BASE RATE": for any day, a rate per annum (rounded upwards, if
necessary, to the next 1/16 of 1%) equal to the greater of (a) the Prime Rate in
effect

<PAGE>

on such day, and (b) the Federal Funds Effective Rate in effect on such
day plus 1/2 of 1%. For purposes hereof: "PRIME RATE" shall mean means a rate
per annum equal to the prime rate of interest announced from time to time by
Bank One or its parent (which is not necessarily the lowest rate charged to any
customer), changing when and as said prime rate changes. Any change in the Base
Rate due to a change in the Prime Rate or the Federal Funds Effective Rate shall
be effective as of the opening of business on the effective day of such change
in the Prime Rate or the Federal Funds Effective Rate, respectively.

         "BORROWING BASE": at any date of determination thereof, an amount equal
to the sum of (i) 80% of the Eligible Accounts Receivable at such date and (ii)
the lesser of 50% of the Eligible Inventory at such date or $10,000,000. The
Borrowing Base shall be determined from time to time by the Administrative Agent
in its reasonable judgment by reference to the Borrowing Base Certificate then
most recently delivered to it; PROVIDED that the information contained in such
Borrowing Base Certificate shall not be conclusive in calculating the Borrowing
Base and, after consultation with the Borrower, the Administrative Agent shall
be entitled to adjust the amounts and other information contained therein to the
extent that it believes in its reasonable credit judgment that such adjustment
is appropriate to cause the Borrowing Base (as so adjusted) to reflect the
standards set forth in the definitions of the terms "Eligible Accounts
Receivable" and "Eligible Inventory".

         "CONSOLIDATED FIXED CHARGE COVERAGE RATIO": for any period, the ratio
of (a) Consolidated EBITDA for such period less the aggregate amount actually
paid by the Borrower and its Subsidiaries in cash during such period on account
of Capital Expenditures to (b) Consolidated Fixed Charges for such period.

         "CONSOLIDATED FIXED CHARGES": for any period, the sum (without
duplication) of (i) Consolidated Interest Expense for such period, (ii) the
aggregate amount paid, or required to be paid, by the Borrower or any of its
Subsidiaries in respect of income taxes during such period (net of tax credits
and benefits, including tax benefits from net operating losses) on a
consolidated basis in respect of such period and (iii) scheduled payments paid
or payable during such period on account of principal of Indebtedness of the
Borrower or any of its Subsidiaries (including without limitation scheduled
principal payments in respect of the Term Loans).

                  1.3 Section 2.18(b) is restated as follows:

         (b) Each payment (including each prepayment) by the Borrower on account
of principal and interest on the Term Loans shall be made PRO RATA according to
the respective outstanding principal amounts of the Term Loans then held by the
Term Loan Lenders. The amount of each principal prepayment of the Term Loans,
whether under Section 2.11, 2.12 or otherwise, shall be applied to the principal
installments due on the Term Loans in the inverse order of maturity. Amounts
prepaid on account of the Term Loans may not be reborrowed.

                  1.4 Section 7.1(a), (b) and (c) are restated as follows:

                  (a) CONSOLIDATED LEVERAGE RATIO. Permit the Consolidated
Leverage Ratio as at the last day of any period of four consecutive fiscal
quarters of the Borrower ending with any fiscal quarter set forth below to
exceed the ratio set forth below opposite such fiscal quarter:

                                                            Consolidated
                  Fiscal Quarter                            Leverage Ratio
                  --------------                            --------------

                                      -2-
<PAGE>

                 At 9/30/01 through 12/31/01               5.85

                 At 3/31/02 through 6/30/02                5.75

                         At 9/30/02                        5.50

                         At 12/31/02                       5.25

                         At 3/31/03                        5.00

                         At 6/30/03                        4.75

                         At 9/30/03                        4.50

                 At 12/31/03 through 3/31/04               4.25

                 At 6/30/04 through 9/30/04                4.00

       As of the end of any fiscal quarter thereafter      3.50

                  (b) CONSOLIDATED INTEREST COVERAGE RATIO. Permit the
Consolidated Interest Coverage Ratio for any period of four consecutive fiscal
quarters of the Borrower ending with any fiscal quarter set forth below to be
less than the ratio set forth below opposite such fiscal quarter:

                                                    Consolidated Interest
                  Fiscal Quarter                       Coverage Ratio
                  --------------                       --------------

                At 9/30/01 through 3/31/02                 1.70

               At 6/30/02 through 12/31/02                 1.80

                At 3/31/03 through 9/30/03                 2.00

               At 12/31/03 through 3/31/04                 2.25

                At 6/30/04 through 9/30/04                 2.50

      As of the end of any fiscal quarter thereafter       2.75

                  (c) CONSOLIDATED FIXED CHARGE COVERAGE RATIO. Permit the
Consolidated Fixed Charge Coverage Ratio for any period of four consecutive
fiscal quarters of the Borrower ending with any fiscal quarter set forth below
to be less than the ratio set forth below opposite such fiscal quarter:

                                                    Consolidated Fixed
                  Fiscal Quarter                  Charge Coverage Ratio
                  --------------                  ---------------------
                   at 9/30/01                              0.85

               at 12/31/01 through 3/31/02                 1.05

               at 6/30/02 through 12/31/02                 1.00

               at 3/31/03 through 6/30/03                  1.05

      As of the end of any fiscal quarter thereafter       1.10

                  1.5 Section 7.5 is amended by replacing the period at the end
of such Section with ":and" and adding the following new clause (k) to the end
of such Section:

         (k) the sale of the Borrower's assets consisting of the net assets,
customer list and patents of the Kompac business unit of Varn International,
Inc., provided that the Net Cash Proceeds of such sale are applied as mandatory
prepayments in accordance with Section 2.12.

                                      -3-
<PAGE>

                  1.6 Section 7.9 is restated as follows:

                  7.9 LIMITATION ON OPTIONAL PAYMENTS AND MODIFICATIONS OF DEBT
INSTRUMENTS, ETC. (a) Make or offer to make any payment, prepayment, repurchase
or redemption of or otherwise defease or segregate funds with respect to the
Existing Notes (except with the proceeds of subordinated Indebtedness incurred
pursuant to Section 7.2(i)), the Senior Subordinated Notes, the Subordinated
Exchange Debentures, Senior Preferred Stock or the Preference Stock (other than
scheduled interest payments required to be made in cash on the Senior
Subordinated Notes or the Subordinated Exchange Debentures if and to the extent
not prohibited by the subordination provisions thereof) or the promissory notes
described in Section 7.2(n) (other than scheduled interest payments required to
be made in cash on such promissory notes described in Section 7.2(n) if and to
the extent not prohibited by the subordination provisions thereof), (b) amend,
modify, waive or otherwise change, or consent or agree to any amendment,
modification, waiver or other change to, any of the terms of the Existing Notes,
the Senior Subordinated Notes, the Subordinated Exchange Debentures, the Senior
Preferred Stock or the promissory notes described in Section 7.2(n) (other than
any such amendment, modification, waiver or other change which (i) would extend
the maturity or reduce the amount of any payment of principal thereof or which
would reduce the rate or extend the date for payment of interest thereon and
(ii) does not involve the payment of a consent fee), (c) designate any
Indebtedness (other than obligations of the Loan Parties pursuant to the Loan
Documents) as "Designated Senior Indebtedness" (or any similar term) for the
purposes of the Senior Subordinated Note Indenture or the Exchange Debenture
Indenture or (d) except for the amendment of the Borrower's certificate of
incorporation and the designation of the Preference Stock pursuant to the
Certificate of Designation with respect thereto, in each case, as contemplated
by the Preference Stock Purchase Agreement, amend its certificate of
incorporation (including the Certificate of Designation with respect to the
Preference Stock) in any manner determined by the Administrative Agent to be
adverse to the Lenders without the prior written consent of the Required
Lenders.

                  1.7 The Pricing Grid attached as Annex A to the Credit
Agreement is replaced with the Pricing Grid attached as Annex A to this
Amendment.

                  ARTICLE II. REPRESENTATIONS. The Borrower represents and
warrants to the Administrative Agent and the Lenders that:

                  2.1 The execution, delivery and performance of this Amendment
are within its powers, have been duly authorized and is not in contravention of
any statute, law or regulation or of any terms of its Articles of Incorporation
or By-laws, or of any material agreement or undertaking to which it is a party
or by which it is bound.

                  2.2 This Amendment is the legal, valid and binding obligation
of it, enforceable against it in accordance with the terms hereof.

                  2.3 After giving effect to the amendments and waivers
contained herein, each of the representations and warranties made by any Loan
Party in or pursuant to the Loan Documents shall, except to the extent that they
speak as of a particular date (in which case they shall be true as of such
date), be true and correct in all material respects on and as of the First
Amendment Effective Date as if made on and as of the First Amendment Effective
Date.

                  2.4 After giving effect to the amendments and waivers
contained herein, no Default or Event of Default shall have occurred and be
continuing as of the First Amendment Effective Date.

                                      -4-
<PAGE>

                  ARTICLE III. CONDITIONS OF EFFECTIVENESS. This Amendment shall
be effective as of the date hereof when each of the following conditions is
satisfied:

                  3.1 The Borrower and the Lenders shall have signed this
Amendment.

                  3.2 The Guarantors shall have signed the Consent and Agreement
attached to this Amendment.

                  3.3 The Borrower and the Guarantors shall have satisfied such
other conditions as requested by the Administrative Agent, including without
limitation the delivery of board resolutions of the Borrower and each Guarantor
and such legal opinions as requested by the Administrative Agent.

                  ARTICLE IV.  MISCELLANEOUS.
                               -------------

                  4.1 The Borrower agrees to pay an amendment fee to each Lender
signing this Amendment on or before 5:00 p.m., Columbus time, on September __,
2001 in an amount equal to 25 basis points on the sum of such Lender's Revolving
Credit Commitment and the amount of the Term Loan held by such Lender, payable
on the First Amendment Effective Date.

                  4.2 References in the Credit Agreement or in any other Loan
Document to the Credit Agreement shall be deemed to be references to the Credit
Agreement as amended hereby and as further amended from time to time.

                  4.3 The Borrower agrees to pay and to save the Administrative
Agent harmless for the payment of all reasonable documented costs and expenses
arising in connection with this Amendment, including the reasonable documented
fees of counsel to the Administrative Agent in connection with preparing this
Amendment and the related documents.

                  4.4 The Borrower and each Guarantor acknowledges and agrees
that, to the best of their knowledge, the Administrative Agent and the Lenders
have fully performed all of their obligations under the Loan Documents. The
Borrower represents and warrants that it is not aware of any claims or causes of
action against the Administrative Agent, the Arranger, the Issuing Lender or any
Lender or any of their successors or assigns. Notwithstanding this
representation and a further consideration for the agreements and understandings
herein, the Borrower and each Guarantor and their respective successors and
assigns hereby release the Administrative Agent, the Arranger, the Issuing
Lender and each Lender and their respective successors and assigns from any
liability, claim, right or cause of action which now exists or hereafter arises,
whether known or unknown, arising from or in any way related to facts in
existence as of the date hereof to any agreements or transactions among the
Administrative Agent, the Arranger, the Issuing Lender, the Lenders, the
Borrower, the Guarantors or any of them, or to any acts or omissions of the
Administrative Agent, the Arranger, the Issuing Lender or the Lenders in
connection therewith or otherwise related thereto in any way.

                  4.5 Except as expressly amended hereby, the Borrower and each
Guarantor agrees that the Loan Documents and all other documents and agreements
executed by the Borrower or any Guarantor in connection with the Credit
Agreement in favor of the Administrative Agent, the Arranger, the Issuing Lender
or any Lender are ratified and confirmed, as amended hereby, and shall remain in
full force and effect in accordance with their terms and that they are not aware
of any set off, counterclaim, defense or other claim or dispute with respect to
any of the foregoing. Terms used but not defined herein shall have the

                                      -5-
<PAGE>

respective meanings ascribed thereto in the Credit Agreement. This Amendment may
be signed upon any number of counterparts with the same effect as if the
signatures thereto and hereto were upon the same instrument, and telecopied
signatures shall be effective as originals.

                  IN WITNESS WHEREOF, the parties signing this Amendment have
caused this Amendment to be executed and delivered as of the day and year first
above written.

                              DAY INTERNATIONAL GROUP, INC.

                              By  /s/  Thomas J. Koenig
                                -----------------------

                              Title: Vice President and Chief Financial Officer
                                     ------------------------------------------

                              BANK ONE, NA, individually and as Administrative
                              Agent
                              (Main Columbus office)

                              By     /s/  Joey D. Williams
                                     ------------------------------------------

                              Title     Vice President
                                     ------------------------------------------

                                      -6-
<PAGE>

                               PNC BANK, NATIONAL ASSOCIATION

                               By     /s/  Warren E. Weber
                                     ------------------------------------------

                               Title:     Vice President
                                     ------------------------------------------

                               THE FUJI BANK, LIMITED

                               By       /s/  Nobuoki Koike
                                     ------------------------------------------

                               Title:    Senior Vice President
                                     ------------------------------------------

                               NATIONAL CITY BANK

                               By    /s/  Peter W. Richer
                                     ------------------------------------------
                                        Peter W. Richer
                               Title:    Vice President
                                     ------------------------------------------

                               FLEET NATIONAL BANK

                               By    /s/  Joseph A. Nalbach
                                     ------------------------------------------
                                        Joseph A. Nalbach
                               Title:    Senior Vice President
                                     ------------------------------------------

                               FIRSTAR BANK, NA

                               By     /s/  Ronald E. Cloyd
                                     ------------------------------------------

                               Title:      Vice President
                                     ------------------------------------------

                               KEYBANK NATIONAL ASSOCIATION

                               By    /s/  Albert B. Holding
                                     ------------------------------------------
                                        Albert B. Holding
                               Title:   Vice President
                                     ------------------------------------------

                               BANC ONE CAPITAL MARKETS, as Arranger

                               By    /s/ Michael L. Monninger
                                     ------------------------------------------

                               Title:   Director
                                     ------------------------------------------

                                      -7-
<PAGE>

                              CONSENT AND AGREEMENT
                              ---------------------

                  As of the date and year first above written, each of the
undersigned hereby:

                  (a) fully consents to the terms and provisions of the above
Amendment and the consummation of the transactions contemplated thereby and
agrees to all the terms and provisions applicable to it;

                  (b) agrees that each Loan Document to which it is a party is
hereby ratified and confirmed and shall remain in full force and effect,
acknowledges and agrees that it has no setoff, counterclaim, defense or other
claim or dispute with respect to any Loan Document to which it is a party; and

                  (c) represents and warrants to the Administrative Agent and
the Lenders that the execution, delivery and performance of this Consent and
Agreement are within its powers, have been duly authorized and are not in
contravention of any statute, law or regulation or of any terms of its
organizational documents or of any material agreement or undertaking to which it
is a party or by which it is bound, and this Consent and Agreement is the legal,
valid and binding obligations of it, enforceable against it in accordance with
the terms hereof and thereof. Terms used but not defined herein shall have the
respective meanings ascribed thereto in the Credit Agreement.

                        DAY INTERNATIONAL, INC.

                        By  /s/  Thomas J. Koenig
                          -----------------------

                        Title: Vice President and Chief Financial Officer
                               ------------------------------------------

                        VARN INTERNATIONAL, INC.

                        By  /s/  Thomas J. Koenig
                          -----------------------

                        Title: Vice President and Chief Financial Officer
                               ------------------------------------------

                        DAY INTERNATIONAL FINANCE, INC.

                        By  /s/  Thomas J. Koenig
                          -----------------------

                        Title: Vice President and Chief Financial Officer
                               ------------------------------------------

                                      -8-
<PAGE>

                                     Annex A
                                     -------

                    PRICING GRID FOR REVOLVING CREDIT LOANS,
                         SWING LINE LOANS AND TERM LOANS

<TABLE>
<CAPTION>
================================================================================================

Consolidated Leverage Ratio                     Applicable Margin           Applicable
Margin for Base ("LR")                         for Eurodollar Loans         Rate Loans
------------------------------------------------------------------------------------------------
<S>                                                      <C>                  <C>
     LR Greater than or equal to  5.50                   3.25%               2.25%
------------------------------------------------------------------------------------------------
5.50 Less than LR Greater than or equal to 5.00          3.00%               2.00%

------------------------------------------------------------------------------------------------
5.00 Less than LR Greater than or equal to 4.00          2.75%               1.75%

------------------------------------------------------------------------------------------------
4.00 Less than LR Greater than or equal to 3.50          2.50%               1.50%

------------------------------------------------------------------------------------------------
     LR less than 3.50                                   2.25%               1.25%
================================================================================================
</TABLE>

Changes in the Applicable Margin with respect to Term Loans resulting from
changes in the Consolidated Leverage Ratio shall become effective on the date
(the "ADJUSTMENT DATE") on which financial statements are delivered to the
Lenders pursuant to Section 6.1 (but in any event not later than the 45th day
after the end of each of the first three quarterly periods of each fiscal year
or the 90th day after the end of each fiscal year, as the case may be) and shall
remain in effect until the next change to be effected pursuant to this
paragraph. If any financial statements referred to above are not delivered
within the time periods specified above, then, until such financial statements
are delivered, the Consolidated Leverage Ratio as at the end of the fiscal
period that would have been covered thereby shall for the purposes of this
definition be deemed greater than or equal to 5.50 to 1. In addition, at all
times while an Event of Default shall have occurred and be continuing, the
Consolidated Leverage Ratio shall for the purposes of this definition be deemed
to be greater than or equal to 5.50 to 1. If on any Adjustment Date the
Consolidated Leverage Ratio would result in different Applicable Margins, the
higher Applicable Margin shall govern. Each determination of the Consolidated
Leverage Ratio pursuant to this definition shall be made with respect to the
period of four consecutive fiscal quarters of the Borrower ending at the end of
the period covered by the relevant financial statements. As of the First
Amendment Effective Date, the Applicable Margin for Eurodollar Loans is set at
3.25% and the Applicable Margin for Base Rate Loans is set at 2.25%.

                                      -9-

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