Document:

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                                                                   EXHIBIT 10.48

AMENDMENT TO MONITORING AGREEMENT DATED AS OF OCTOBER 29, 1997 BETWEEN AMERICAN
 AXLE & MANUFACTURING OF MICHIGAN, INC. AND BLACKSTONE MANAGEMENT PARTNERS L.P.

         This Amendment (the "Amendment") to the Monitoring Agreement dated as
of October 29, 1997 between American Axle & Manufacturing of Michigan, Inc. and
Blackstone Management Partners L.P. (the "Agreement") is entered into as of the
19th day of November, 2001, by and between American Axle & Manufacturing
Holdings, Inc., a Delaware corporation, successor by merger of American Axle &
Manufacturing of Michigan, Inc., a Michigan corporation, (the "Company") and
Blackstone Management Partners L.P., a Delaware limited partnership
("Blackstone").

         For good and valuable consideration, the receipt and adequacy of which
are hereby acknowledged, the parties agree as follows:

1. Commencing on January 1, 2002 (the "Effective Date"), Section 3 of the
Agreement is deleted and replaced in its entirety with the following:

         3. Fees. In consideration of the services contemplated by Section 2,
         for the remaining term of this Agreement, commencing with payments due
         following the Effective Date, the Company and its successors agree to
         pay to Blackstone an annual monitoring fee (the "Monitoring Fee") which
         will be paid in advance in semi-annual equal installments on March 31
         and September 30 of each year. The Monitoring Fee shall be based upon
         Blackstone's percentage ownership of the voting common stock of the
         Company ("Blackstone Ownership %") in accordance with the following
         schedule:

<TABLE>
<CAPTION>
         Blackstone Ownership %                             Annual Fee
         ----------------------                             ----------
<S>                                 <C>                 <C>
          Current ownership         46.9%               $     3.5 million
                  Less than         45.0%               $     3.4 million
                  Less than         40.0%               $     3.0 million
                  Less than         35.0%               $     2.6 million
                  Less than         30.0%               $     2.2 million
                  Less than         25.0%               $     1.8 million
                  Less than         20.0%               $     1.4 million
                  Less than         15.0%               $     1.0 million
                  Less than         10.0%               $     0.6 million
                  Less than          5.0%               $     0.2 million
                                     0.0%               $     0.0 million
</TABLE>

         Provided, however, that no change in the annual fee based upon a change
         in Blackstone Ownership % in accordance with the forgoing schedule
         shall be effective until a divestiture of Company stock by Blackstone.
         By way of illustration, but not of limitation, dilution through option
         exercises or other equity transactions will not trigger fee decreases
         but will be taken into account in determining the Blackstone Ownership
         % when Blackstone divests of Company stock.
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2. Commencing on the Effective Date, Section 7 of the Agreement is deleted and
replaced in its entirety with the following:

         7. Term. This Agreement shall be effective as of the Effective Date and
         shall continue until such time as Blackstone and its affiliates
         beneficially own no Company stock, at which time the Agreement,
         including this Amendment, shall terminate (such termination date, the
         "Termination Date"), provided that section 4 shall remain in effect
         with respect to Out-of-Pocket Expenses incurred prior to the
         Termination Date. The provisions of Sections 5 and 9, and otherwise as
         the context so requires, shall survive the termination of this
         Agreement.

3. Except as otherwise expressly provided in this Amendment, the Agreement shall
remain in full force and effect as originally written. Words and phrases defined
in the Agreement shall have the same meaning(s) when used in this Amendment
unless redefined herein. In the event of a conflict between the terms and
conditions of the Agreement and this Amendment, the terms and conditions of this
Amendment shall control.

4. This Amendment constitutes the entire agreement of the parties with respect
to the subject matter hereof and supersedes any and all prior agreements,
whether written or oral, pertaining to the subject matter contained herein. Any
addition, deletion, or modification of any kind to this Amendment shall only be
binding upon the parties if evidenced through a written document signed by an
authorized representative of each party hereto.

5. This Amendment may be executed in two (2) or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and
the same instrument.

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

American Axle & Manufacturing                Blackstone Management Partners L.P.
Holdings, Inc.                               By Blackstone Management Partners
                                             L.L.C., its General Partner

By:      /s/ Robin J. Adams                  By:    /s/ Robert L. Friedman
         ------------------                         ----------------------
Name:    Robin J. Adams                      Name:  Robert L. Friedman
Title:   Executive VP & CFO                  Title: Member

                                       2<PAGE>
                                                                   EXHIBIT 10.49

                    SECOND AMENDMENT TO EMPLOYMENT AGREEMENT

         SECONDED AMENDMENT, dated as of December 10, 2001, to the Employment
Agreement (the "Agreement"), dated as of November 6, 1997, by and between
AMERICAN AXLE & MANUFACTURING HOLDINGS, INC., a Delaware corporation (the
"Company"), and Richard E. Dauch (the "Employee"):

1. The second sentence of Section 1 of the Agreement is hereby amended to read
in its entirety as follows:

                  "The assignment shall be as Co-Founder, Chairman & Chief
                  Executive Officer."

2. Section 3(a) of the Agreement is hereby amended to read in its entirety as
follows:

                           "(a) Base Salary. The Company will pay Employee a
                  salary effective March 1, 2001 at a per annum rate of Nine
                  Hundred and Thirty Five Thousand United States Dollars (U.S.
                  $935,000), payable in accordance with the Company's customary
                  payroll procedures for senior executives (the `Annual Base
                  Salary')."

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3. Section 2 of Exhibit A to the Agreement is hereby amended to read in its
entirety as follows:

                  "2. Determination of Annual Cash Bonus.

                           The Annual Cash Bonus shall be determined as of each
                  Measurement Date for the calendar year ending on such
                  Measurement Date pursuant to the following:

                           (a) If the Company continues to outperform the
                  financial performance of the Company's industry peer group,
                  Employee's Annual Cash Bonus shall equal three times the
                  amount of the Employee's then Annual Base Salary."

                           (b) If the Company's financial performance equals or
                  is less than the financial performance of the Company's
                  industry peer group, Employee's Annual Cash Bonus shall be an
                  amount up to the amount of the Employee's then Annual Base
                  Salary as determined by the Compensation Committee of the
                  Company's Board of Directors.

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                           (c) If the Company's financial performance
                  outperforms the Company's industry peer group by an amount
                  greater than it has historically, Employee's Annual Cash Bonus
                  shall be an amount in excess of the amount set forth in
                  Section 2(a) hereof as determined by the Compensation
                  Committee of the Company.

                           (d) The metrics for assessing financial performance
                  under this Agreement shall be set jointly by the Compensation
                  Committee of the Board and the Employee and reviewed no less
                  than every three years for consistency with creating value for
                  the Company's shareholders.

4. Exhibit B to the Agreement shall be amended to add the following:

                  "3. Company shall grant to Employee 300,000 stock options each
                  year during the term of this Agreement, which annual grant
                  amount shall be subject to review and increase by the
                  Compensation Committee of the Company's Board of Directors and
                  the Employee upon any major changes to the Company's corporate
                  structure."

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5. As modified by this Second Amendment, the Agreement as previously amended,
shall continue in full force and effect in accordance with its terms.

6. The Supplemental Compensation Agreement dated December 20, 2000 between the
Company and the Employee shall continue in full force and effect as originally
written unaffected by the terms of this Second Amendment to the Agreement.

         IN WITNESS WHEREOF, the parties hereto have here unto set their hands
and seal as of the day and year first above written.

                                        AMERICAN AXLE &
                                        MANUFACTURING HOLDINGS, INC.

/s/ Richard E. Dauch                    By: /s/ Thomas K. Walker
--------------------                        --------------------
Richard E. Dauch                        Title: Chairman of the Compensation
                                               Committee

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