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Exhibit 10.4    
    

 
 

THIRD AMENDMENT
  TO
  LOAN AND SECURITY AGREEMENT    
    

        This THIRD AMENDMENT TO LOAN AND SECURITY AGREEMENT (this "Amendment") is entered into as of this 20th day of
January, 2005 by and among J.B. POINDEXTER & CO., INC., a Delaware corporation ("Poindexter"), MORGAN TRAILER MFG. CO., a New Jersey
corporation ("Morgan"), TRUCK ACCESSORIES GROUP, INC., a Delaware corporation ("TAG), MAGNETIC
INSTRUMENTS CORP., a Delaware corporation ("MIC"), MORGAN OLSON CORPORATION, a Delaware corporation
("MOC") and EFP CORPORATION, a Delaware corporation ("EFP") (Poindexter, Morgan, TAG, MIC, MOC and EFP
are each a "Borrower" and collectively referred to as "Borrowers"), the other Loan Parties signatory
hereto, LaSalle Bank National Association, a national banking association, for itself, as a Lender, and as Agent for the Lenders, and all other Lenders parties hereto. Unless otherwise specified
herein, capitalized terms used in this Amendment shall have the meanings ascribed to them by the Loan Agreement (as hereinafter defined). 

 
 

RECITALS    
    

        WHEREAS, the Borrowers, the Loan Parties, the Agent and the Lenders have entered into that certain Loan and Security Agreement dated as of March 15,2004
(as amended, supplemented, restated or otherwise modified from time to time, the "Loan Agreement"); and 

        WHEREAS,
the Borrowers and the Loan Parties desire that Agent and the Lenders amend certain provisions of the Loan Agreement as herein set forth. 

        NOW
THEREFORE, in consideration of the foregoing recital, mutual agreements contained herein and for good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Borrowers, the Loan Parties, the Agent and Lenders hereby agree as follows: 

        SECTION 1.    Amendments.    

        (a)   The
definition of "Senior Notes" set forth in Section 1 of the
Loan Agreement is hereby amended and restated to read in its entirety as follows: 

        ""Senior Notes" shall mean collectively, the 83/4% Senior Notes due 2014, issued by Poindexter pursuant to the terms of the
Senior Note Indenture in an initial aggregate principal amount of $125,000,000 (which amount may be subsequently increased to up to $200,000,000 as permitted by subsection
13(b)(vi) hereof) as such Senior Notes may be amended, modified, supplemented, extended, renewed, restated or replaced as permitted by the terms of  subsection 13(b) hereof."

        (b)   The
second line of Subsection 13(b)(vi) of the Loan Agreement is hereby amended by deleting the amount "$155,000,000"
where it appears therein and inserting the amount "$200,000,000" in place thereof. 

        (c)   Section 12 of the Loan Agreement is hereby amended by adding the following new subsection
(k) at the end thereof: 

        "(k)  Investment Account. Not later than two (2) Business Days after any Loan Parties' receipt of proceeds of the Senior Notes
issued on January 27, 2005 in an aggregate principal amount not to exceed $45,000,000 (the "Incremental Notes"), Loan Parties shall deposit not
less than $20,000,000 from the proceeds of such Incremental Notes into an investment account maintained at LaSalle or at any of LaSalle's affiliates (the "LaSalle Investment
Account"), and taken together with the investments previously deposited by Loan Parties into the LaSalle Investment Account, Loan Parties shall maintain a balance in such
LaSalle Investment Account not less than $25,000,000 at all times after the issuance of such Incremental Notes unless and until the aggregate amount of the proceeds of the Incremental Notes and other
Senior Notes on deposit in investment accounts maintained by Loan Parties at banks 

 

or
other financial institutions (other than LaSalle or any of LaSalle's affiliates) equals to $0 (Zero Dollars) and no such proceeds are otherwise available to any Loan Party; and thereafter Loan
Parties may withdraw such amounts from the LaSalle Investment Account for the purposes of funding any Acquisition permitted pursuant to  Section 13(d)(ii) of this Agreement or for any other purposes
which are not prohibited by the terms of this Agreement." 

        SECTION 2.    Effectiveness.    The effectiveness of this Amendment is subject to the
satisfaction of each the following conditions precedent: 

        (a)   this
Amendment shall have been duly executed and delivered by the Borrowers, the Loan Parties, the Agent and each Lender; and 

        (b)   the
representations and warranties contained herein shall be true and correct in all respects. 

        SECTION 3.    Representations and Warranties.    In order to induce the Agent and
each Lender
to enter into this Amendment, each Loan Party hereby represents and warrants to the Agent and each Lender, which representations and warranties shall survive the execution and delivery of this
Amendment, that: 

        (a)   all
of the representations and warranties contained in the Loan Agreement and in each Other Agreement are true and correct as of the date hereof after giving effect to
this Amendment, except to the extent that any such representations and warranties expressly relate to an earlier date; 

        (b)   the
execution, delivery and performance by the Loan Parties of this Amendment has been duly authorized by all necessary corporate action required on their part and this
Amendment, and the Loan Agreement is the legal, valid and binding obligation of the Loan Parties enforceable against the Loan Parties in accordance with its terms, except as its enforceability may be
affected by the effect of bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect relating to or affecting the rights or remedies of creditors generally; 

        (c)   Neither
the execution, delivery and performance of this Amendment by the Loan Parties, the performance by the Loan Parties of the Loan Agreement nor the consummation of
the transactions contemplated hereby does or shall contravene, result in a breach of, or violate (i) any provision of any Loan Party's certificate or articles of incorporation or bylaws or
other similar documents, or agreements, (iii) any law or regulation, or any order or decree of any court or government instrumentality, or (iii) any indenture, mortgage, deed of trust,
lease, agreement or other instrument to which any Loan Party or any of its Subsidiaries is a party or by which any Loan Party or any of its Subsidiaries or any of their property is bound, except in
any such case to the extent such conflict or breach has been waived herein or by a written waiver document, a copy of which has been delivered to Agent on or before the date hereof; and 

        (d)   No
Default or Event of Default has occurred and is continuing. 

        SECTION 4.    Reference to and Effect Upon the Loan Agreement.    

        (a)   Except
as specifically set forth above, the Loan Agreement and each of the Other Agreements shall remain in full force and effect and are hereby ratified and confirmed;
and 

        (b)   The
amendments set forth herein are effective solely for the purposes set forth herein and shall be limited precisely as written, and shall not be deemed to
(i) be a consent to any amendment, waiver or modification of any other term or condition of the Loan Agreement or any Other Agreement, (ii) operate as a waiver or otherwise prejudice any
right, power or remedy that the Agent or the Lenders may now have or may have in the future under or in connection with the Loan Agreement or any Other Agreement or (iii) constitute a waiver of
any provision of the Loan Agreement or any Other Agreement, except as specifically set forth herein. Upon the effectiveness of this Amendment, each reference in the Loan Agreement to "this Agreement",
"herein", "hereof' and 

2

 

words
of like import and each reference in the Loan Agreement and the Other Agreements to the Loan Agreement shall mean the Loan Agreement as amended hereby. This Amendment shall be construed in
connection with and as part of the Loan Agreement. Each Loan Party hereby acknowledges and agrees that there is no defense, setoff or counterclaim of any kind, nature or description to the Liabilities
or the payment thereof when due. 

        SECTION 5.    Costs And Expenses.    As provided in  Section 4(c)(v) of the Loan Agreement, the Borrowers agree to reimburse Agent for all fees, costs, and expenses, including the reasonable fees,
costs, and expenses of counsel or other advisors for advice, assistance, or other representation in connection with this Amendment. 

        SECTION 6.    Governing Law.    THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF ILLINOIS. 

        SECTION 7.    Headings.    Section headings in this Amendment are included herein for
convenience of reference only and shall not constitute part of this Amendment for any other purposes. 

        SECTION 8.    Counterparts.    This Amendment may be executed in any number of
counterparts,
each of which when so executed shall be deemed an original, but all such counterparts shall constitute one and the same instrument. 

        [Signature
Pages Follow] 

3

   
        IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment as of the date first written above. 

	BORROWERS:	 	 
	
J.B. POINDEXTER & CO., INC.	
 	

 
	

By:	

/s/  ROBERT S. WHATLEY      
	
 	

 
	Name:	Robert S. Whatley	 	 
	Title:	Vice President	 	 
	
MORGAN TRAILER MFG. CO.	
 	

 
	

By:	

/s/  ROBERT S. WHATLEY      
	
 	

 
	Name:	Robert S. Whatley	 	 
	Title:	Vice President	 	 
	
TRUCK ACCESSORIES GROUP, INC.	
 	

 
	

By:	

/s/  ROBERT S. WHATLEY      
	
 	

 
	Name:	Robert S. Whatley	 	 
	Title:	Vice President	 	 
	
MAGNETIC INSTRUMENTS CORP.	
 	

 
	

By:	

/s/  ROBERT S. WHATLEY      
	
 	

 
	Name:	Robert S. Whatley	 	 
	Title:	Vice President	 	 
	
MORGAN OLSON CORPORATION	
 	

 
	

By:	

/s/  ROBERT S. WHATLEY      
	
 	

 
	Name:	Robert S. Whatley	 	 
	Title:	Vice President	 	 
	
EFP CORPORATION	
 	

 
	

By:	

/s/  ROBERT S. WHATLEY      
	
 	

 
	Name:	Robert S. Whatley	 	 
	Title:	Vice President	 	 

[Signature Page to Third Amendment to Loan and Security Agreement] 

S-1

 

	AGENT AND LENDER:	 	 
	
LASALLE BANK NATIONAL ASSOCIATION,
 as Agent and Lender	
 	

 
	

By:	

	
 	

 
	Name:	
	 	 
	Title:	Senior Vice President	 	 

[Signature Page to Third Amendment to Loan and Security Agreement] 

S-2

 

        The
following Persons are signatories to this Amendment in their capacities as Loan Parties, not as Borrowers: 

	LOAN PARTIES:	 	 
	
LOWY GROUP, INC.	
 	

 
	

By:	
 	

/s/  ROBERT S. WHATLEY      
	
 	

 
	Name:	 	Robert S. Whatley	 	 
	Title:	 	Vice President	 	 
	
RAIDER INDUSTRIES INC.	
 	

 
	

By:	
 	

/s/  ROBERT S. WHATLEY      
	
 	

 
	Name:	 	Robert S. Whatley	 	 
	Title:	 	Vice President	 	 
	
SWK HOLDINGS, INC.	
 	

 
	

By:	
 	

/s/  ROBERT S. WHATLEY      
	
 	

 
	Name:	 	Robert S. Whatley	 	 
	Title:	 	Vice President	 	 
	
UNIVERSAL BRIXIUS, INC.	
 	

 
	

By:	
 	

/s/  ROBERT S. WHATLEY      
	
 	

 
	Name:	 	Robert S. Whatley	 	 
	Title:	 	Vice President	 	 
	
MORGAN TRAILER FINANCIAL CORPORATION	
 	

 
	

By:	
 	

/s/  ROBERT S. WHATLEY      
	
 	

 
	Name:	 	Robert S. Whatley	 	 
	Title:	 	Vice President	 	 
	
MORGAN TRAILER FINANCIAL MANAGEMENT, L.P.	
 	

 
	

By:	
 	
MORGAN TRAILER MFG. CO.,
 its general partner	
 	

 
	

 	
 	

By:	

/s/  ROBERT S. WHATLEY      
	
 	

 
	 	 	Name:	Robert S. Whatley	 	 
	 	 	Title:	Vice President	 	 
	
COMMERCIAL BABCOCK INC.	
 	

 
	

By:	
 	

/s/  ROBERT S. WHATLEY      
	
 	

 
	Name:	 	Robert S. Whatley	 	 
	Title:	 	Vice President	 	 

[Signature Page to Third Amendment to Loan and Security Agreement] 

S-3

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Exhibit 10.4

THIRD AMENDMENT TO LOAN AND SECURITY AGREEMENT

RECITALSQuickLinks
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Exhibit 10.9    
    

 
 

MANAGEMENT SERVICES AGREEMENT    
    

        THIS MANAGEMENT SERVICES AGREEMENT (this "Agreement") is made as
of the 23rd day of May, 1994, by and between J.B. Poindexter & Co., Inc., a Delaware corporation (the "Company") and
Southwestern Holdings, Inc., a Texas corporation ("Southwestern"). 

        WHEREAS, the Company wishes to obtain, for itself and its subsidiaries, including, without limitation, the companies listed on  Exhibit A (such subsidiaries and any
subsidiaries acquired by the Company after the date of this Agreement being referred to herein collectively
as the "Portfolio Companies"), the executive, managerial, and professional services of John B. Poindexter, an individual residing in Houston, Texas and
Chairman of the Board of Southwestern, and Stephen Magee, an individual residing in Houston, Texas and President of Southwestern (each, individually, a
"Consultant" and, collectively, the "Consultants"), in connection with certain business matters of the
Company; and 

        WHEREAS, Southwestern agrees to enter into this Agreement to provide services to the Company and the Portfolio Companies and to make the
services of the Consultants available to the Company and the Portfolio Companies upon the terms and conditions set forth below; 

        NOW, THEREFORE, for and in consideration of the premises and the mutual covenants set forth herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

        SECTION 1.    Services.    Southwestern agrees to provide to the
Company and the Portfolio Companies the services (as described below, the "Services") of the Consultants, to perform and discharge well and faithfully
such duties as may be assigned to Southwestern and the Consultants from time to time by the Board of Directors or executive officers of the Company. southwestern and the Consultants shall provide the
Services to the Company and the Portfolio Companies when and as needed and requested by the Board of Directors or executive officers of the Company. The Services shall include, without limitation: 

        a.    Financial and Management Services.    Southwestern and the
Consultants shall (i) assist the Company and the Portfolio Companies and their respective management and personnel in the formulation, preparation and maintenance of financial and operating
budgets, in the preparation and maintenance of financial records, and in monitoring the financial performance of the Company and the Portfolio Companies and their respective management and personnel
with respect to managerial, accounting, financial or operational matters concerning the Company and the Portfolio Companies. 

        b.    Strategic Planning.    Southwestern and the Consultants shall
assist the Company and the Portfolio Companies with their strategic business planning, including studying and identifying business trends and prospects, proposing and performing operational audits,
formulating and implementing business plans and policies, and identifying, formulating and attaining business goals and objections. 

        c.    Acquisition Candidate Identification and
Analysis.    Southwestern and the Consultants shall assist the Company and the Portfolio Companies in identifying and evaluating potential acquisition and investment
candidates, including, but not limited to, identification and financial review and analysis of prospective candidates, assessing candidate contributions to the Company's and the Portfolio Companies'
respective business plans, conducting such audits, surveys and due diligence and other investigations as shall be necessary and appropriate, and making recommendations to the Company and the Portfolio
Companies with respect to potential acquisitions and investments. 

        d.    Assistance with Acquisitions.    Southwestern and the
Consultants shall assist the Company and the Portfolio Companies in structuring, negotiating, coordinating and completing acquisitions and investments, including, but not limited to, making
appropriate referrals for outside financial and legal advice and other services incidental to such transactions, assisting with due diligence investigations, negotiating terms and conditions of
acquisitions and related financing, completing such acquisitions, 

 

and
assisting the Company and the Portfolio Companies with post-closing assistance as they may request. 

        e.    Compensation Review and Consulting.    southwestern and the
Consultants shall assist the directors and executive officers of the Company and the Portfolio Companies in evaluating and establishing compensation and benefits programs and policies for senior
executives of the Company and the Portfolio Companies, including, but not limited to, assisting the Company and the Portfolio Companies in establishing and maintaining appropriate executive
performance standards and review policies, assisting in periodic evaluations of salaries and benefits packages and ensuring competitive compensation packages for senior executives of the Company and
the Portfolio Companies. 

        f.    Facilities.    Southwestern shall make available to the Company
and the Portfolio Companies the facilities of Cibolo Creek Ranch (the "Facilities") on an as-needed basis for management meetings and
retreats and client entertainment and development. Southwestern shall bill the Company and the Portfolio Companies on a monthly basis for their respective actual use of the Facilities at a rate of
$350 per day per room. The Company agrees that Southwestern may from time to time increase or decrease such fee for the use of the Facilities upon thirty (30) days prior written notice to the
Company, and that southwestern may from time to time establish policies and guidelines regulating availability and use of the Facilities by the Company and the Portfolio Companies as Southwestern
deems necessary and desirable. The fee paid by the Company and the Portfolio Companies for the use of the Facilities shall not be included in the Management Fee provided for below and shall be an
obligation separate and apart from the obligation of the Company to pay the Management Fee. 

        The
Consultants shall each devote such portion of their business time to providing the Services to the Company and the Portfolio Companies as the particular Services requested by Company
shall reasonably require. The Company acknowledges that each of the Consultants may, during the period of his service on behalf of Company and the Portfolio Companies, be employed or involved in any
other business activity, and may enter into similar arrangements for providing services similar to the Services to other businesses or entities. 

        SECTION 2.    Management Fee; Payment; Reimbursements.    

        a.    Consulting Fee.    For Services rendered by the Consultants
under this Agreement, Southwestern shall be paid an annual fee of Five Hundred Eighty-Five Thousand Dollars ($585,000) (the "Management
Fee"), payable in equal monthly installments beginning one month from the date hereof, until the date this Agreement shall terminate. The Management Fee shall be adjusted
annually, on each anniversary date of this Agreement, in accordance with the percentage increase in the Consumer Price Index for All Urban Consumers, Houston-Galveston-Brazoria, not seasonally
adjusted, as published by the United States Department of Labor, Bureau of Labor Statistics (or if such index is no longer published, an equivalent index mutually agreed to by the parties).
southwestern may, from time to time during the term hereof, request an increase in the Management Fee in excess of the annual adjustments set forth above, provided, however, that any such increase in
the Management Fee in excess of the annual adjustment in accordance with the Consumer Price Index set forth above shall be subject to the prior approval of the Board of Directors of the Company and to
the further condition that, after giving effect to such increase in the Management Fee, the Company's Consolidated EBITDA Coverage Ratio (as defined below) is 2.00 to 1 or higher. In addition to the
Management Fee, the Company may pay a discretionary bonus to southwestern if at the time of the payment of such bonus the Company's Consolidated EBITDA Coverage Ratio is 2.00 to 1 or higher. For the
purposes of this Agreement, the Company's "Consolidated EBlTDA Coverage Ratio" shall have the meaning assigned to such term in the Indenture, dated as of May 23, 1994, among the Company, the
Subsidiary Guarantors, and United States Trust Company of New York, as trustee. 

        b.    Reimbursement of Costs.    southwestern and the Consultants
shall be reimbursed for miscellaneous costs, charges or expenses (including but not limited to travel, transportation, meals and 

2

 

entertainment,
and other costs and expenses incidental to the provision of the Services) incurred by southwestern or the Consultants in the ordinary course of the its or their performance of Services
pursuant to Section 1 above. Such costs shall be reimbursed to southwestern or the Consultants (as the case may be) upon presentation of evidence
of such expenditures in reasonable detail. 

        c.    Benefits.    Except as described in the following two sentences,
the Consultants shall not have any claim against the Company or the Portfolio Companies for any employee benefits (including vacation pay, sick leave, social security, workers' compensation or
unemployment benefits). The Consultants are currently receiving health insurance benefits under Morgan Trailer Mfg. Co. "s company-wide self-insured medical plan. This
Agreement shall not preclude the Consultants from continuing to receive such benefits or comparable benefits from the Company, one or more of the Portfolio Companies, or any company hereafter acquired
by the Company or its affiliates. Neither the Company nor the Portfolio Companies shall be required to withhold taxes for the Consultants. 

        SECTION 3.    Term of Agreement.    Except as provided in the next
sentence, this Agreement shall begin on the date first above written and shall remain in effect for one (1) year; provided, however, that the term hereof shall automatically be renewed for
subsequent one-year terms until terminated in accordance with the provisions hereof. This Agreement may be terminated by the Company, Southwestern or the Consultants at any time with sixty
(60) days prior written notice. In addition, this Agreement may be terminated at any time by the Company without prior notice in accordance with one of the following provisions: 

        a.    For Cause.    This Agreement may be terminated by the Company at
any time for Cause (as hereinafter defined). As used in this Agreement, "Cause" shall mean any of the following events: 

            i.  a
Consultant's commission or conviction of, or plea of guilty or nolo contendere to, a felony (other than a felony resulting from a traffic violation), a crime of
falsehood, or a crime involving moral turpitude, or the actual incarceration of a Consultant; 

           ii.  a
Consultant's material failure to perform properly his duties to the Company and the Portfolio Companies other than a failure resulting from his incapacity because of
physical or mental illness; or 

          iii.  a
Consultant's commission of any act of misconduct that damages the business or reputation of the Company or any of the Portfolio Companies. If this Agreement is
terminated under the provisions of
this Section 3(a), all payments to Southwestern under this Agreement shall cease to accrue as of the effective date of such termination. 

        b.    Death.    If either of the Consultants dies, this Agreement
shall be deemed to terminate as of the date of such Consultant's death and all payments to Southwestern shall cease to accrue. 

        c.    Disability or Unavailability.    If either of the Consultants
becomes disabled and is unable to perform his duties pursuant to this Agreement, this Agreement may be terminated immediately upon giving southwestern notice to that effect and all payments hereunder
shall cease to accrue; provided that in such case the Company shall pay to Southwestern on the termination date an amount equal to the then-current Management Fee. 

        d.    Termination of Employment.    If either of the Consultants is
unavailable or unwilling to perform his duties to the Company, this Agreement shall cease as of the date of such termination, unavailability or cessation of services and all payments to southwestern
shall cease to accrue. 

        SECTION 4.    General Liability.    With regard to the Services to be
performed by Southwestern and the Consultants pursuant to the terms of this Agreement, none of Southwestern, the Consultants, or any of their respective officers, directors, employees or agents
(including without limitation the Consultants) shall be liable to the Company or any of its subsidiaries or affiliates, including, without limitation, the Portfolio Companies, for any acts or
omissions in the performance of the Services on the 

3

 

part
of Southwestern, the Consultants or any of such directors, officers, employees or agents, except when said acts or omissions of, or attributable to, Southwestern or the Consultants result from
the fraud, bad faith or gross negligence of Southwestern, the Consultants or their respective directors, officers, employees and agents. The Company agrees to and shall indemnify, protect, defend and
hold Southwestern and the Consultants (including their respective directors, officers, employees and agents) free and harmless against any obligations, costs, claims, demands, judgments, attorneys'
fees, and attachments arising from or growing out of the Services rendered to the Company and the Portfolio Companies hereunder or in any way connected with the rendering of such Services, except when
the same shall arise as a result of fraud, bad faith or negligence of southwestern or the Consultants (including their respective directors, officers, employees and agents) as adjudged by a court of
competent jurisdiction. 

        SECTION 5.    Miscellaneous.    

        a.    Governing Law.    This Agreement shall be governed by the laws
of the State of Texas. 

        b.    Entire Agreement.    This document constitutes the entire
agreement of the parties. Amendments and waivers may be made only with the written approval of both parties. 

        c.    Assignment.    This Agreement shall not be assignable by either
party without written consent by the other party. 

        d.    Notice.    Any notice required or permitted under this Agreement
shall be sufficient if written and hand-delivered or sent by registered mail, return receipt requested as follows: 

If
to the Company: 

Southwestern
Holdings, Inc.

1100 Louisiana, Suite 3650

Houston, Texas 77002

Attention: Stephen Magee 

If
to Company: 

J.B.
Poindexter & Co., Inc.

1100 Louisiana, Suite 3650

Houston, Texas 77002

Attention: Stephen Magee 

        e.    Severability.    In case any provision of this Agreement shall
be invalid, illegal or unenforceable, the validity, legality or enforceability of any of the remaining portions shall not be in any way affected or impaired thereby. 

        f.    Headings.    The paragraph headings and captions of this
Agreement are for reference only, are not part of this Agreement, and they shall not be construed as limiting or affecting any of the contents of this Agreement or its paragraphs. 

        g.    Counterpart Execution.    This Agreement may be executed in any
number of counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument. 

4

 

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

	SOUTHWESTERN HOLDINGS, INC.	 
	

By:	
 	

/s/  STEPHEN MAGEE      
 Stephen Magee

President	

 
	

J.B. POINDEXTER & CO., INC.	

 
	

By:	
 	

/s/  JOHN B. POINDEXTER      
 John B. Poindexter

Chief Executive Officer / President	

 
	

ACKNOWLEDGED AND AGREED TO:	

 
	

/s/  JOHN B. POINDEXTER      
 John B. Poindexter	

 
	

/s/  STEPHEN MAGEE      
 Stephen Magee	

 

5

 
 
 

Exhibit A    
    

Leer, Inc. 

Morgan
Trailer Mfg. Co. 

Lowy
Group, Inc. 

EFP
Corporation 

Magnetic
Instruments Corp. 

6

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Exhibit 10.9

MANAGEMENT SERVICES AGREEMENT

Exhibit A

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