Document:

EMPLOYMENT AGREEMENT

 

Exhibit 10.15

EMPLOYMENT AGREEMENT

     This Employment Agreement (this “Agreement”) is made and entered into as
of this      day of June, 1998, by and between Lindquist Avey Macdonald
Baskerville Inc., an Ontario corporation (the “Company”), and Michael Beber
(the “Executive”).

     WHEREAS, the Executive and the Company desire to embody in this Agreement
the terms and conditions of the Executive’s employment by the Company;

     WHEREAS, the Executive acknowledges that this Agreement is being executed
in connection with that certain Stock Purchase Agreement (the “Stock Purchase
Agreement”), dated June 1, 1998, relating to the sale of all of the equity
securities of General Commercial Services, Limited, an Ontario corporation, and
the Executive acknowledges that this Agreement is being entered into in
connection with such transaction; and

     WHEREAS, it is a condition to the consummation of the transactions
contemplated by the Stock Purchase Agreement that the Executive enter into this
Agreement.

     NOW, THEREFORE, in consideration of the premises and mutual promises
contained in this Agreement, including the compensation paid to the Executive,
the parties hereby agree:

ARTICLE 1

Employment, Duties and Responsibilities

     1.1      Employment. The Company shall employ the Executive as Principal. The
Executive hereby accepts such employment. The Executive agrees to devote his
full business time and best efforts to promote the interests of the Company.

     1.2      Duties and Responsibilities. The Executive shall have such duties and
responsibilities as are consistent with his position and shall perform such
services not inconsistent with his position as shall from time to time be
assigned to him by the Board of Directors of the Company, the Chief Executive
Officer of the Company or any other officer of the Company in a position
superior to the Executive.

ARTICLE 2

Term

     2.1      Term. The term of the Executive’s employment under this Agreement
(the “Term”) shall commence on the date hereof and shall continue until
terminated in accordance with the provisions of Article 5 or by the Executive
upon three (3) months prior written notice to the Company.

 

 

ARTICLE 3

Compensation

     3.1      Salary, Bonuses and Benefits. As compensation and consideration for
the performance by the Executive of his obligations to the Company under this
Agreement, the Executive shall be entitled to the compensation and benefits
described in the attached Exhibit A (subject, in each case, to the provisions
of ARTICLE 5 hereof).

     3.2      Expenses. The Company will reimburse the Executive for reasonable
business-related expenses incurred by him in connection with the performance of
his duties hereunder during the Term, subject, however, to the Company’s
policies relating to business-related expenses as in effect from time to time
during the Term.

ARTICLE 4

     4.1      Exclusivity, Etc. The Executive agrees to perform his duties,
responsibilities and obligations hereunder efficiently and to the best of his
ability. The Executive agrees that he will devote his entire working time,
care and attention and best efforts to such duties, responsibilities and
obligations with the Company throughout the Term. The Executive also agrees
that he will not engage in any other business activities pursued for gain,
profit or other pecuniary advantage that are competitive with the activities of
the Company, except as permitted in Section 4.2 hereof. The Executive agrees
that all of his activities as an employee of the Company shall be in conformity
with all policies, rules and regulations and directions of the Company not
inconsistent with this Agreement.

     4.2      Other Business Ventures; Noncompetition.

     (a)      The term “Confidential Information,” as employed in this Agreement,
means (i) any object, material, device, substance, data, report, record,
forecast, interpretation or information, whether written or oral, not in the
public domain and relating to or reflecting any product, design, process,
procedure, formula, research, idea, invention, discovery, improvement,
equipment, scientific or technical information, method of production, business
plan, financial information, listing of names, addresses or telephone numbers,
trade secret and/or know how, and all matters pertaining thereto, of the
Company whether or not contained in any written document, which are or have
been, directly or indirectly, communicated to, acquired by or learned by the
Executive as a result of his relationship (whether as an employee or otherwise)
with the Company and (ii) any analysis, compilation, note, study, sample,
drawing, sketch, computer program, computer file or other document, whether
prepared by or under the direction of the Company, the Executive or others, and
all copies, facsimiles, replicas, photographs and reproductions thereof, which
contain, relate to or reflect any of the aforementioned items.

     (b)      The Executive shall not, directly or indirectly, either disclose any
Confidential Information, except to the extent required in the performance of
his duties as an employee of the Company and then only at the direction of the
Company, or use any Confidential Information for the benefit of himself or any
person, firm, corporation or association other than the Company, either during
the Term or thereafter; provided, however, it shall not be a breach of this
Section

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 4.2(b) if (i) the Confidential Information is available to the public or
in the public domain and such Confidential Information is publicly available or
in the public domain not because of a breach of this Agreement or any other
breach of a requirement to keep such information confidential known to the
Executive, after reasonable inquiry, to have occurred; (ii) disclosure is
required to be made by a law, rule, regulation, governmental body or authority
or by court order and the Executive has given prompt notice of such requirement
to the Company; or (iii) the Confidential Information is lawfully known to the
Executive prior to the disclosure of such Confidential Information by the
Company to the Executive.

     (c)      All samples, drawings, sketches, documents and written information of
any kind reflecting any of the Confidential Information or relating to the
Company’s business or products, services or clients which come into the
possession of the Executive shall remain the sole property of the Company, and
shall not be copied, photocopied, reprinted or otherwise reproduced or
disseminated by the Executive except in the performance of his duties as an
employee of the Company and then only at the direction of the Company. Upon
the earlier of the Company’s request therefor or the termination of the
Executive’s employment by the Company, the Executive shall return all such
samples, drawings, sketches, documents and written information, and all copies,
facsimiles, replicas, photocopies and reproductions of them, to the Company
whether or not such contains or reflects Confidential Information.

     (d)      The Executive hereby covenants and agrees to refrain (A) during his
employment by the Company, (B)(i) throughout Ontario and (ii) with respect to
clients and individual attorneys who billed more than 20 hours on behalf of a
client of the Company relating to a matter for which the Company was engaged
for which the Executive has done and/or managed in excess of $25,000 of total
billings (amount to be adjusted annually for inflation) within the twelve
months prior to termination of employment by the Company for a period of one
(1) year after termination (regardless of the reason for termination), from,
directly or indirectly, (a) engaging on his own behalf in the Business (as
hereinafter defined), or (b) owning any interest in or engaging in or
performing any service related to the Business for any person, firm,
corporation or other entity, either as a partner, owner, employee, consultant,
agent, officer, director or shareholder, that (A) derives a meaningful portion
of its revenues from the Business or (B) is a meaningful competitor in the
Business. The Executive will not at any time during his employment by the
Company and for a period of one (1) year thereafter induce, or assist others to
induce, or attempt to induce, in any manner, directly or indirectly, any
employee, agent, representative, customer or any other person or concern
dealing with or in any way associated with the Company or any of its affiliates
to terminate or to modify in any other fashion to the detriment of the Company
or any of its affiliates such association with the Company or any of its
affiliates or hire, or assist others to hire, any person who is or was an
employee of the Company or its affiliates within the twelve (12) months prior
to termination. The Executive represents that his experience and capabilities
are such that the provisions of this paragraph will not prevent him from
earning a living. The Executive recognizes and expressly acknowledges that the
provisions of Section 4.2 grant the Company only such reasonable protection as
is admittedly necessary to preserve the legitimate interests of the Company and
the Executive equally recognizes, in this respect, that the description of the
Business is reasonable. For purposes of this Agreement, the term “Business”
shall mean the business of forensic and investigative accounting; corporate
investigations; commercial litigation and other dispute support; quantification
of economic damages; statutory and regulatory compliance investigations;
insurance and surety claims

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 assessment, quantification and investigations, including business
interruption, fidelity bond and property loss; business valuation; due
diligence reviews; computer investigations and security; risk and crisis
management; global intelligence collection; construction dispute analysis
and/or support; environmental investigations; background investigations; legal
research; locating assets, individuals and corporate entities; private
investigations; employee screening and verification.

     (e)      The parties hereto agree that the Executive’s agreements contained in
paragraph (b) through (d) of this Article relate to matters of unique character
and peculiar value impossible of replacement, that breach of such agreements by
the Executive will cause the Company great and irreparable injury therefor,
that the remedy at law for any breach of the agreements contained in (b)
through (d) will be inadequate and that the Company, in addition to any other
relief available to it, shall be entitled to temporary restraining orders and
temporary and permanent injunctive relief or other equitable relief without the
necessity of proving actual damage or of providing bond so as to prevent a
breach of any of the agreements contained in (b) through (d) of this Article
and to secure the enforcement thereof. Further, the Executive acknowledges
that the enforcement of the provisions contained in paragraphs (b) through (d)
of this Article will not prohibit the Executive from earning a living.

ARTICLE 5

Termination

     5.1      Termination by the Company. The Company shall have the right to
terminate the Executive’s employment at any time, with or without “Cause.” For
purposes of this Agreement, “Cause” shall mean (i) substantial failure by the
Executive to perform his duties as described in Article I of this Agreement,
(ii) a material breach by the Executive of any of other terms and conditions of
this Agreement, (iii) conduct grossly insubordinate or disloyal to the Company,
or (iv) pleading no contest or guilty to an indictable offense or being
convicted of an indictable offense.

     5.2      Death. In the event the Executive dies during the Term, this
Agreement shall automatically terminate, such termination to be effective on
the date of the Executive’s death.

     5.3      Disability. In the event that the Executive shall suffer a disability
which shall have prevented him from performing satisfactorily his obligations
hereunder for a period of at least 90 consecutive days, or 180 non-consecutive
days within any 365 day period, the Company shall have the right to terminate
the Executive’s employment, such termination to be effective upon the giving of
notice thereof to the Executive in accordance with Section 6.3 hereof.

     5.4      Effect of Termination. (a) In the event of termination of the
Executive’s employment for any reason, the Company shall pay to the Executive
(or his beneficiary in the event of his death) any base salary or other
compensation in accordance with the normal pay practices of the Company upon a
termination of employees for similar reasons and in accordance with Exhibit A
thereof.

     (b)      In the event of termination of the Executive’s employment (i) by the
Company for Cause, (ii) by the Executive for any reason, (iii) because of the
Executive’s death, or

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 (iv) pursuant to Section 5.3 hereof, because of the Executive’s
disability, neither the Executive nor any beneficiary of the Executive shall be
entitled to any further compensation other than the amounts described in
Section 5.4(a) hereof; provided, however, that nothing contained herein shall
be deemed to limit the Executive’s right to any benefit pursuant to any
employee benefit plan (subject, in all cases, to the terms and conditions of
such plans).

     (c)      In the event of termination of the Executive’s employment by the
Company other than (A) for Cause or (B) by reason of the Executive’s death,
disability or resignation, the Company shall pay the Executive, in addition to
the amounts described in Section 5.4(a) hereof, an amount equal to the lesser
of (i) an amount equal to the Executive’s then current base salary for one
year; and (ii) an amount equal to the Executive’s then current base monthly
salary times the number of years the Executive has been employed by the Company
and Lindquist Avey Macdonald Baskerville Inc. deemed to have commenced on
August 1, 1991. Such amount shall be payable, at the discretion of the
Company, either (A) in a lump sum or (B) in monthly installments as the
Executive would have earned in the normal course. The one-year period if a
severance payment is paid in accordance with subparagraph (i) hereof or the
period equal to one month for each year that Executive has been employed by the
Company and Lindquist Avey Macdonald Baskerville Inc. if a severance payment is
paid in accordance with subparagraph (ii) hereof is deemed the “Severance
Period”.

     (d)      Each of the Company and the Executive confirm that the provisions of
Section 5.4(c) are reasonable and the total amount payable as outlined therein
is an amount which has been agreed between them to be payable hereunder, or in
the alternative, is a reasonable pre-estimate of the damages which will be
suffered by the Executive in the event of early termination of this Agreement
and shall not be construed as a penalty.

ARTICLE 6

Miscellaneous

     6.1      Mitigation: Offset. In the event that an amount becomes payable to
the Executive pursuant to Section 5.4(c) hereof, such amount shall be reduced,
on a dollar-for-dollar basis, by (i) any outstanding amounts owned by the
Executive to the Company and (ii) the amount of any compensation for services
earned by the Executive during the Severance Period. In such event, the
Executive shall cooperate with the Company and shall provide such information
to the Company as it may reasonably require. Notwithstanding the foregoing,
the Executive’s obligation to mitigate those amounts payable to him pursuant to
Section 5.4(c) shall not result in him receiving less than that required by
relevant employment standards legislation with respect to termination of
employment.

     6.2      Benefit of Agreement; Assignment; Beneficiary. (a) This Agreement
shall inure to the benefit of and be binding upon the Company and its
successors and assigns, including, without limitation, any corporation or
person which may acquire all or substantially all of the Company’s assets or
business, or with or into which the Company may be consolidated or merged.
This Agreement shall also inure to the benefit of, and be enforceable by, the
Executive and his personal or legal representatives, executors, administrators,
successors, heirs, distributees, devisees and legatees. If the Executive
should die while any amount would still be

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 payable to the Executive hereunder if he had continued to live, all such
amounts shall be paid in accordance with the terms of this Agreement to the
Executive’s beneficiary, devisee, legatee or other designee, or if there is no
such designee, to the Executive’s estate.

     (b)      The Company shall require any successor (whether direct or indirect,
by operation of law, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business and/or assets of the Company to expressly
assume and agree, in writing, to perform this Agreement in the same manner and
to the same extent that the Company would be required to perform it if no such
succession had taken place.

     6.3      Notices. Any notice required or permitted hereunder shall be in
writing and shall be sufficiently given if personally delivered or if sent by
registered or certified mail, postage prepaid, with return receipt requested,
addressed: (a) in the case of the Company, to the Chief Operating Officer; and
(b) in the case of the Executive, to the Executive’s last known address as
reflected in the Company’s records, or to such other address as the Executive
shall designate by written notice to the Company. Any notice given hereunder
shall be deemed to have been given at the time of receipt thereof by the person
to whom such notice is given if personally delivered or five (5) days after the
time of mailing if sent by registered or certified mail.

     6.4      Entire Agreement; Amendment. This Agreement contains the entire
agreement of the parties hereto with respect to the terms and conditions of the
Executive’s employment during the Term and supersedes any and all prior
agreements and understandings, whether written or oral, between the parties
hereto with respect to the Executive’s employment by the Company and or any of
its affiliates. This Agreement may not be changed or modified except by an
instrument in writing signed by both of the parties hereto.

     6.5      Waiver. No waiver of any provision of this Agreement shall be
effective or binding unless it is in writing and signed by the party against
which such waiver is to be enforced. The waiver by either party of a breach of
any provision of this Agreement shall not operate or be construed as a
continuing waiver or as a consent to or waiver of any subsequent breach hereof.

     6.6      Headings. The Article and Section headings herein are for convenience
of reference only, do not constitute a part of this Agreement and shall not be
deemed to limit or affect any of the provisions hereof.

     6.7      Governing Law. This Agreement shall be governed by, and construed and
interpreted in accordance with, the internal laws of the Province of Ontario
without reference to the principles of conflict of laws.

     6.8      Agreement to Take Actions. Each party hereto shall execute and
deliver such documents, certificates, agreements and other instruments, and
shall take such other actions, as may be reasonably necessary or desirable in
order to perform his or its obligations under this Agreement or to effectuate
the purposes hereof.

     6.9      Venue and Jurisdiction. The Executive shall bring any legal action
against the Company in the Ontario Court of Justice (General Division). The
Executive will not pursue legal action against the Company in any other
judicial venue. The Executive submits to the

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 jurisdiction of these courts and waives any claim of improper venue,
inconvenient forum or forum non conveniens. Notwithstanding the foregoing, if
the Company is unable to obtain jurisdiction against the Executive as set forth
above, the Company may, at its sole election, pursue legal action against the
Executive in an alternative jurisdiction.

     6.10      Survivorship. The respective rights and obligations of the parties
hereunder shall survive any termination of this Agreement to the extent
necessary to the intended preservation of such rights and obligations.

     6.11      Validity. The invalidity or unenforceability of any provision or
provisions of this Agreement shall not affect the validity or enforceability of
any other provision or provisions of this Agreement, which shall remain in full
force and effect. If any provision of this Agreement is held to be invalid,
void or unenforceable, any court so holding shall substitute a valid,
enforceable provision that preserves, to the maximum lawful extent, the terms
and intent of this Agreement.

     6.12      Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall be deemed to be an original but all of which
together will constitute one and the same instrument.

     IN WITNESS WHEREOF, each of the parties hereto has duly executed this
Agreement effective as of the date first written above.

	 	 	 
	 	Lindquist Avey Macdonald Baskerville Inc.
	 
	 
	 	By:
	 	 	

	 	Name:
	 	 	

	 	Title:
	 	 	

	 
	 
	 
	 
	 	

	 	Michael Beber

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EXHIBIT A TO EMPLOYMENT AGREEMENT

     The Executive shall receive as compensation for his performance under the
attached Employment Agreement the following:

     (a)      Salary. The Company shall pay the Executive a base salary during the
Term, payable in accordance with the normal payroll policies of the Company and
subject to such withholdings and other normal employee deductions as may be
required by law, at the annual rate of Cdn $309,375.00. The Board of Directors
of the Company shall review such compensation not less frequently than annually
during the Term.

     (b)      Annual
Bonus. In addition to base salary, the Executive shall earn
incentive compensation (“incentive compensation”) and the Company shall pay
each fiscal year, or any fractional period thereof during the Term, incentive
compensation in accordance with the plan approved by the Compensation Committee
of the Board of Directors of the Kroll-O’Gara Company each fiscal year;
provided, however, that if the Executive terminates his employment with the
Company or is terminated by the Company (other than for Cause) after the date a
bonus is declared but not yet been paid, such bonus shall be paid to the
Executive in the same manner and the same time period as such bonus is paid to
then current employees of the Company. If such bonus is declared after the
date on which the Executive’s employment with the Company is terminated for any
reason (other than in the case of death or disability), the Executive shall not
be entitled to such bonus. In the case of death or disability, the Executive
shall be considered for a bonus related to the year in which the Executive is
terminated. If a bonus is declared in these circumstances after the date on
which the Executive’s employment with the Company is terminated by reason of
death or disability, such bonus shall be paid to the Executive or his estate in
the same manner and in the same period of time as such bonus is paid to then
current executives of the Company.

     (c)      Stock
Awards. The Executive shall be entitled to receive up to fifty
percent (50%) of any incentive compensation in the form of shares of stock of
The Kroll-O’Gara Company, an Ohio corporation (“TKOC”), as determined by the
Compensation Committee of the Board of Directors of TKOC. In addition, the
Executive shall be eligible for grants of stock options in TKOC, which grants
shall be made at the discretion of the Compensation Committee of the Board of
Directors of TKOC.

     (d)      
Benefits. The Executive shall participate during the Term in such
pension, life insurance, health, disability and major medical insurance plans,
and in such other employee benefit plans and programs, for the benefit of the
employees of the Company, as may be maintained from time to time during the
Term, in the Company’s discretion, in each case to the extent and in the manner
available to other officers or employees of the Company at substantially the
same level of responsibility as the Executive and subject to the terms and
provisions of such plans or programs. For purposes of eligibility for
membership and entitlement under the terms of the Company’s pension plan, the
Executive shall deemed to have been employed by the Company effective August 1,
1991.

 

 

     (e)      
Vacation. During the Term, the Executive shall be entitled to a paid
vacation of at least five weeks (but not necessarily consecutive vacation
weeks) per annum, in accordance with Company policy.<PAGE>
                                                                   EXHIBIT 10.20

                               FIFTH AMENDMENT TO
                      AMENDED AND RESTATED CREDIT AGREEMENT

         This FIFTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT dated as
of December 30, 2002 (this "Amendment") is entered into among DURA AUTOMOTIVE
SYSTEMS, INC., as Parent Guarantor ("DASI"), DURA OPERATING CORP. and various of
its Subsidiaries listed on the signature pages hereto as Borrowers (the
"Borrowers"), the LENDERS party hereto, JPMORGAN CHASE BANK, as Syndication
Agent, BANK OF AMERICA, N.A., acting through its Canada Branch (as assignee of
Bank of America Canada), as Canadian Lender, and BANK OF AMERICA, N.A., as Swing
Line Lender, as Issuing Lender and as agent for the Lenders (the "Agent").

                                    RECITALS

         A. DASI, the Borrowers, the Lenders and the Agent are parties to that
certain Amended and Restated Credit Agreement dated as of March 19, 1999, as
amended as of May 10, 2001, June 15, 2001, August 24, 2001 and April 17, 2002
(the "Agreement").

         B. The Borrowers, the Required Lenders and the Agent wish to amend the
Agreement in certain respects with respect to certain financial covenants
therein and in certain other respects.

         NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:

         1. Certain Defined Terms. Capitalized terms which are used herein
without definition and that are defined in the Agreement shall have the same
meanings herein as in the Agreement.

         2. Amendments to Agreement. The Agreement is hereby amended as follows:

                2.1 Section 1.1 of the Agreement is amended as of the Amendment
Effective Date by amending the following definitions of "Senior Leverage Ratio"
and "Total Debt to EBITDA Ratio" to read in their entirety as follows:

                "Senior Leverage Ratio means, as of the last day of any fiscal
                quarter, the ratio of

                (a) the consolidated Indebtedness of DASI and its Subsidiaries
                as of such day,

                      (i)  excluding from such consolidated Indebtedness, to the
                extent, if any, included therein, (A) the Trust Preferred Stock
                Debentures and the Trust Preferred Securities, and (B) all
                Subordinated Indebtedness, and

                      (ii) for purposes of Section 11.12 only, if on the last
                day of such fiscal quarter the aggregate outstanding principal
                Dollar Equivalent amount of the Revolving Loans (excluding the
                aggregate undrawn Dollar Equivalent amount of all Letters of
                Credit outstanding) is less than U.S.$35,000,000, subtracting
                from such consolidated Indebtedness any amount of cash and cash
                equivalents in excess of U.S.$25,000,000 held by DASI and its
                Subsidiaries on the last day of such fiscal quarter,

                to

                (b)  EBITDA for the Computation Period ending on such day.

                If DASI or any Subsidiary makes any Acquisition, the Senior
          Leverage Ratio shall be calculated on a combined basis during the
          first 12 months following such Acquisition based on the assumption
          that

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<PAGE>

          such Acquisition had been completed (and the financial results of the
          acquired Person or assets had been included in the consolidated
          financial results of DASI beginning) on the first day of the relevant
          Computation Period (but without adjustment for any cost savings or
          other synergies attributable to such Acquisition for the period prior
          to the date of such Acquisition).

                If DASI or any Subsidiary sells or otherwise transfers any
          or all of its interest in any Subsidiary (the "Disposed Subsidiary")
          to another Person or Persons so that such Disposed Subsidiary is no
          longer a Subsidiary of DASI or if DASI or any Subsidiary sells or
          otherwise transfers substantially all of its assets in any business
          unit, line or plant (the "Disposed Business") to another Person or
          Persons that are neither DASI nor Subsidiaries, the Senior Leverage
          Ratio shall be calculated on a pro forma basis during the first 12
          months following such sale or other transfer of such Disposed
          Subsidiary or Disposed Business based on the assumption that such sale
          or other transfer had been completed (and the financial results of
          such Disposed Subsidiary or Disposed Business had been excluded in the
          consolidated financial results of DASI beginning) on the first day of
          the relevant Computation Period."

                "Total Debt to EBITDA Ratio means, as of the last day of any
          fiscal quarter, the ratio of

                (a) the consolidated Indebtedness of DASI and its Subsidiaries
          as of such day, (i) excluding from such consolidated Indebtedness, to
          the extent, if any, included therein, the Trust Preferred Stock
          Debentures and the Trust Preferred Securities, and (ii), if on the
          last day of such fiscal quarter the aggregate outstanding principal
          Dollar Equivalent amount of the Revolving Loans (excluding the
          aggregate undrawn Dollar Equivalent amount of all Letters of Credit
          outstanding) is less than U.S.$35,000,000, subtracting from such
          consolidated Indebtedness any amount of cash and cash equivalents in
          excess of U.S.$25,000,000 held by DASI and its Subsidiaries on the
          last day of such fiscal quarter,

                to

                (b)  EBITDA for the Computation Period ending on such day.

                If DASI or any Subsidiary makes any Acquisition, the Total
          Debt to EBITDA Ratio shall be calculated on a combined basis during
          the first 12 months following such Acquisition based on the assumption
          that such Acquisition had been completed (and the financial results of
          the acquired Person or assets had been included in the consolidated
          financial results of DASI beginning) on the first day of the relevant
          Computation Period (but without adjustment for any cost savings or
          other synergies attributable to such Acquisition for the period prior
          to the date of such Acquisition).

                If DASI or any Subsidiary sells or otherwise transfers any
          or all of its interest in any Subsidiary (the "Disposed Subsidiary")
          to another Person or Persons so that such Disposed Subsidiary is no
          longer a Subsidiary of DASI or if DASI or any Subsidiary sells or
          otherwise transfers substantially all of its assets in any business
          unit, line or plant (the "Disposed Business") to another Person or
          Persons that are neither DASI nor Subsidiaries, the Total Debt to
          EBITDA Ratio shall be calculated on a pro forma basis during the first
          12 months following such sale or other transfer of such Disposed
          Subsidiary or Disposed Business based on the assumption that such sale
          or other transfer had been completed (and the financial results of
          such Disposed Subsidiary or Disposed Business had been excluded in the
          consolidated financial results of DASI beginning) on the first day of
          the relevant Computation Period."

                Sections 11.10 and 11.11 of the Agreement are amended as of the
                      Amendment Effective Date to read in their entirety as
                      follows:

                "11.10 Fixed Charge Coverage Ratio. DASI shall not permit,
          as of the last day of the following fiscal quarters, the ratio of (a)
          the sum of Consolidated Net Income before Interest Expense (including
          to the extent, if any, excluded therefrom, distributions in respect of
          the Trust Preferred Stock Debentures), income tax expense,
          amortization expense and operating lease expense (excluding any
          non-cash extraordinary charges and other non-cash charges and any
          gains and losses from dispositions of a Disposed Business or Disposed
          Subsidiary) for the Computation Period ending on such day, to (b) the
          sum of Interest Expense (including, to the extent, if any, excluded
          therefrom, distributions (computed on a pre-tax basis) in

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<PAGE>

          respect of the Trust Preferred Stock Debentures) and operating lease
          expense of DASI and its Subsidiaries for such Computation Period, to
          be less than the following ratios:

                 Fiscal Quarter Ending                        Ratio
                 ---------------------                        -----

                 Any fiscal quarter ending
                 on or after March 31, 2002 and
                 on or prior to March 31, 2003                1.40:1

                 Any fiscal quarter ending
                 thereafter                                   1.50:1

                "11.11 Net Worth. DASI shall not permit the sum of (x) its
          consolidated stockholders equity (excluding currency translation
          adjustments after December 31, 2001 but including the Trust Preferred
          Stock or, if issued, the Trust Preferred Stock Debentures of DASI)
          plus (y) the amount of any extraordinary non-cash charge with respect
          to goodwill effected in 2002 in implementing FAS No. 142, in each case
          determined as of the last day of any fiscal quarter, to be less than
          the sum of (i) U.S. $340,000,000 plus (ii) 75% of the Net Cash
          Proceeds of equity securities of DASI issued on or after December 31,
          2001."

          3. Representations and Warranties. DASI and each Borrower hereby
represent and warrant to the Agent and the Lenders as follows:

                (i)   Representations and Warranties. The representations and
          warranties contained in Article IX of the Agreement are true and
          correct in all material respects as of the date hereof (except to the
          extent such representations and warranties expressly refer to an
          earlier date, in which case they are true and correct as of such
          earlier date).

                (ii)  Enforceability. The execution and delivery by DASI and
          each Borrower of this Amendment, and the performance by DASI and each
          Borrower of this Amendment and the Agreement, as amended hereby, are
          within the corporate powers of DASI and each Borrower and have been
          duly authorized by all necessary corporate action on the part of DASI
          and each Borrower. This Amendment and the Agreement, as amended
          hereby, are valid and legally binding obligations of DASI and each
          Borrower, enforceable in accordance with their terms, except as
          enforceability may be limited by applicable bankruptcy, insolvency or
          similar laws affecting the enforcement of creditors' rights generally
          or by equitable principles relating to enforceability.

                (iii) No Default. After giving effect to the terms of this
          Amendment, no Event of Default or Unmatured Event of Default shall
          have occurred and be continuing.

                (iv)  No Material Adverse Effect. No Material Adverse Effect
          has occurred and is continuing since December 31, 2001.

          4. Effect of Amendment. Except as expressly amended and modified by
this Amendment, all provisions of the Agreement shall remain in full force and
effect; and DASI and the Borrowers confirm and reaffirm their Obligations under
the Agreement as amended by this Amendment. After this Amendment becomes
effective, all references in the Agreement (or in any other Loan Document) to
"this Agreement", "hereof", "herein" or words of similar effect referring to the
Agreement shall be deemed to be references to the Agreement as amended by this
Amendment. This Amendment shall not be deemed to expressly or impliedly waive,
amend or supplement any provision of the Agreement other than as set forth
herein.

          5. Effectiveness. This Amendment shall become effective as of December
30, 2002 (the "Amendment Effective Date"), provided that all of the following
shall have occurred on or before February 17, 2003: (i) receipt by the Agent of
counterparts of this Amendment (whether by facsimile or otherwise) executed by
DASI, the Borrowers, the Agent and the Required Lenders, and (ii) receipt by the
Agent for the benefit of each Lender consenting to this

                                       3

<PAGE>

Amendment of an amendment fee paid by Dura in immediately available funds equal
to 0.05% of the aggregate amount of such Lender's Commitments and Term Loans.

         6. Counterparts. This Amendment may be executed in any number of
counterparts and by different parties on separate counterparts, and each
counterpart shall be deemed to be an original, and all such counterparts shall
together constitute but one and the same instrument. A facsimile of the
signature of any party on any counterpart shall be effective as the signature of
the party executing such counterpart for purposes of the effectiveness of this
Amendment.

         7. Governing Law. This Amendment shall be governed by, and construed in
accordance with, the internal laws of the State of Illinois; provided that the
Agent and the Lenders shall retain all rights arising under Federal law.

         8. Section Headings. The various headings of this Amendment are
inserted for convenience only and shall not affect the meaning or interpretation
of this Amendment or the Agreement or any provision hereof or thereof.

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

                                  DURA AUTOMOTIVE SYSTEMS, INC.

                                  By: /s/  DAVID R. BOVEE
                                      -------------------
                                  Title: VICE PRESIDENT & CFO
                                         --------------------

                                  DURA OPERATING CORP.

                                  By: /s/  DAVID R. BOVEE
                                      -------------------
                                  Title: VICE PRESIDENT & CFO
                                         --------------------

                                  BANK OF AMERICA, N.A., AS AGENT

                                  By: /s/  DAVID PRICE
                                      ----------------
                                  Title: VICE PRESIDENT
                                         --------------

                                       4

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