Document:

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                                                                     EXHIBIT 4.2

                             R.J. TOWER CORPORATION

                                Euro150,000,000

                           9.25% Senior Notes due 2010

                   EXCHANGE AND REGISTRATION RIGHTS AGREEMENT

                                                                   July 25, 2000

CHASE MANHATTAN INTERNATIONAL LIMITED
BANK OF AMERICA INTERNATIONAL LIMITED
DONALDSON, LUFKIN & JENRETTE INTERNATIONAL
ABN AMRO INCORPORATED
FIRST CHICAGO LIMITED
SCOTIA CAPITAL (USA) INC.
c/o Chase Manhattan International Limited
125 London Wall
London EC2Y5AJ
England

Ladies and Gentlemen:

                   R.J. Tower Corporation, a Michigan corporation (the
"Company"), proposes to issue and sell to Chase Manhattan International Limited
("CMIL"), Bank of America International Limited ("BAL"), Donaldson, Lufkin &
Jenrette International, ABN AMRO Incorporated, First Chicago Limited and Scotia
Capital (USA), Inc. and (together with CMIL and collectively, the "Initial
Purchasers"), upon the terms and subject to the conditions set forth in a
purchase agreement dated July 19, 2000 (the "Purchase Agreement"),
Euro150,000,000 aggregate principal amount of its 9.25% Senior Notes due 2010
(the "Notes"). The Notes will be guaranteed (the "Guarantees" and together with
the Notes, the "Securities") by Tower Automotive, Inc. ("Tower") and each of the
Company's existing and future domestic subsidiaries (collectively, the
"Guarantors"). Capitalized terms used but not defined herein shall have the
meanings given to such terms in the Purchase Agreement.

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                   As an inducement to the Initial Purchasers to enter into the
Purchase Agreement and in satisfaction of a condition to the obligations of the
Initial Purchasers thereunder, the Company and the Guarantors agree with the
Initial Purchasers, for the benefit of the holders (including the Initial
Purchasers) of the Securities, the Exchange Securities (as defined herein) and
the Private Exchange Securities (as defined herein) (collectively, the
"Holders"), as follows:

                   1. Registered Exchange Offer. The Company and the Guarantors
shall (i) prepare and, not later than 60 days following the date of original
issuance of the Securities (the "Issue Date"), file with the Commission a
registration statement (the "Exchange Offer Registration Statement") on an
appropriate form under the Securities Act with respect to a proposed offer to
the Holders of the Securities (the "Registered Exchange Offer") to issue and
deliver to such Holders, in exchange for the Securities, a like aggregate
principal amount of debt securities of the Company guaranteed by the Guarantors
(the "Exchange Securities") that are identical in all material respects to the
Securities, except for the transfer restrictions relating to the Securities,
(ii) use its reasonable best efforts to cause the Exchange Offer Registration
Statement to become effective under the Securities Act no later than 150 days
after the Issue Date and the Registered Exchange Offer to be made no later than
180 days after the Issue Date and (iii) keep the Exchange Offer Registration
Statement effective for not less than 30 days (or longer, if required by
applicable law) after the date on which notice of the Registered Exchange Offer
is mailed to the Holders (such period being called the "Exchange Offer
Registration Period"). The Exchange Securities will be issued under the
Indenture or an indenture (the "Exchange Securities Indenture") among the
Company, the Guarantors and the Trustee or such other bank or trust company that
is reasonably satisfactory to the Initial Purchasers, as trustee (the "Exchange
Securities Trustee"), such indenture to be identical in all material respects to
the Indenture, except for the transfer restrictions relating to the Securities
(as described above).

                   Upon the effectiveness of the Exchange Offer Registration
Statement, the Company and the Guarantors shall promptly commence the Registered
Exchange Offer, it being the objective of such Registered Exchange Offer to
enable each Holder electing to exchange Securities for Exchange Securities
(assuming that such Holder (a) is not an affiliate of the Company or an
Exchanging Dealer (as defined herein) not complying with the requirements of the
next sentence, (b) is not an Initial Purchaser holding Securities that have, or
that are reasonably likely to have, the status of an unsold allotment in an
initial distribution, (c) acquires the Exchange Securities in the ordinary
course of such Holder's business and (d) has no arrangements or understandings
with any person to participate in the distribution of the Exchange Securities)
and to trade such Exchange Securities from and after their receipt without any
limitations or restrictions under the Securities Act and without material
restrictions under the securities laws of the several states of the United
States. The Company, the Guarantors, the Initial Purchasers and each Exchanging
Dealer acknowledge that, pursuant to current interpretations by the Commission's
staff of Section 5 of the Securities Act, each Holder that is a broker-dealer
electing to exchange Securities, acquired for its own account as a result of
market-making activities or other trading activities, for Exchange Securities
(an "Exchanging Dealer"), is required to deliver a prospectus containing
substantially the information set forth in Annex A hereto on the cover, in Annex
B hereto in the "Exchange Offer Procedures" section and the "Purpose of the
Exchange Offer" section and in Annex C hereto in the

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"Plan of Distribution" section of such prospectus in connection with a sale of
any such Exchange Securities received by such Exchanging Dealer pursuant to the
Registered Exchange Offer.

                   If, prior to the consummation of the Registered Exchange
Offer, any Holder holds any Securities acquired by it that have, or that are
reasonably likely to be determined to have, the status of an unsold allotment in
an initial distribution, or any Holder is not entitled to participate in the
Registered Exchange Offer, the Company and the Guarantors shall, upon the
request of any such Holder, simultaneously with the delivery of the Exchange
Securities in the Registered Exchange Offer, issue and deliver to any such
Holder, in exchange for the Securities held by such Holder (the "Private
Exchange"), a like aggregate principal amount of debt securities of the Company
guaranteed by the Guarantors (the "Private Exchange Securities") that are
identical in all material respects to the Exchange Securities, except for the
transfer restrictions relating to such Private Exchange Securities. The Private
Exchange Securities will be issued under the same indenture as the Exchange
Securities, and the Company shall use its reasonable best efforts to cause the
Private Exchange Securities to bear the same CUSIP number as the Exchange
Securities.

                   In connection with the Registered Exchange Offer, the Company
and the Guarantors shall:

                   (a) mail to each Holder a copy of the prospectus forming part
         of the Exchange Offer Registration Statement, together with an
         appropriate letter of transmittal and related documents;

                   (b) keep the Registered Exchange Offer open for not less than
         30 days (or longer, if required by applicable law) after the date on
         which notice of the Registered Exchange Offer is mailed to the Holders;

                   (c) utilize the services of a depositary for the Registered
         Exchange Offer with an address in the Borough of Manhattan, City of New
         York;

                   (d) permit Holders to withdraw tendered Securities at any
         time prior to the close of business, New York City time, on the last
         business day on which the Registered Exchange Offer shall remain open;
         and

                   (e) otherwise comply in all respects with all laws that are
         applicable to the Registered Exchange Offer.

                   As soon as reasonably practicable after the close of the
Registered Exchange Offer and any Private Exchange, as the case may be, the
Company and the Guarantors shall:

                   (a) accept for exchange all Securities tendered and not
         validly withdrawn pursuant to the Registered Exchange Offer and the
         Private Exchange;

                   (b) deliver to the Trustee for cancellation all Securities so
         accepted for exchange; and

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                   (c) cause the Trustee or the Exchange Securities Trustee, as
         the case may be, promptly to authenticate and deliver to each Holder,
         Exchange Securities or Private Exchange Securities, as the case may be,
         equal in principal amount to the Securities of such Holder so accepted
         for exchange.

                   The Company and the Guarantors shall use their reasonable
best efforts to keep the Exchange Offer Registration Statement effective and to
amend and supplement the prospectus contained therein in order to permit such
prospectus to be used by all persons subject to the prospectus delivery
requirements of the Securities Act for such period of time as such persons must
comply with such requirements in order to resell the Exchange Securities;
provided that (i) in the case where such prospectus and any amendment or
supplement thereto must be delivered by an Exchanging Dealer, such period shall
be the lesser of 180 days and the date on which all Exchanging Dealers have sold
all Exchange Securities held by them and (ii) the Company shall make such
prospectus and any amendment or supplement thereto available to any
broker-dealer for use in connection with any resale of any Exchange Securities
for a period of not less than 180 days after the consummation of the Registered
Exchange Offer.

                   The Indenture or the Exchange Securities Indenture, as the
case may be, shall provide that the Securities, the Exchange Securities and the
Private Exchange Securities shall vote and consent together on all matters as
one class and that none of the Securities, the Exchange Securities or the
Private Exchange Securities will have the right to vote or consent as a separate
class on any matter.

                   Interest on each Exchange Security and Private Exchange
Security issued pursuant to the Registered Exchange Offer and in the Private
Exchange will accrue from the last interest payment date on which interest was
paid on the Securities surrendered in exchange therefor or, if no interest has
been paid on the Securities, from the Issue Date.

                   Each Holder participating in the Registered Exchange Offer
shall be required to represent to the Company and the Guarantors that at the
time of the consummation of the Registered Exchange Offer (i) any Exchange
Securities received by such Holder will be acquired in the ordinary course of
business, (ii) such Holder will have no arrangements or understanding with any
person to participate in the distribution of the Securities or the Exchange
Securities within the meaning of the Securities Act and (iii) such Holder is not
an affiliate of the Company or the Guarantors or, if it is such an affiliate,
such Holder will comply with the registration and prospectus delivery
requirements of the Securities Act to the extent applicable.

                   Notwithstanding any other provisions hereof, the Company and
the Guarantors will ensure that (i) any Exchange Offer Registration Statement
and any amendment thereto and any prospectus forming part thereof and any
supplement thereto complies in all material respects with the Securities Act and
the rules and regulations of the Commission thereunder, (ii) any Exchange Offer
Registration Statement and any amendment thereto does not, when it becomes
effective, contain an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements
therein not misleading and (iii) any prospectus forming

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part of any Exchange Offer Registration Statement, and any supplement to such
prospectus, does not, as of the consummation of the Registered Exchange Offer,
include an untrue statement of a material fact or omit to state a material fact
necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading.

                   2. Shelf Registration. If (i) because of any change in law or
applicable interpretations thereof by the Commission's staff the Company and the
Guarantors are not permitted to effect the Registered Exchange Offer as
contemplated by Section 1 hereof, or (ii) any Securities validly tendered
pursuant to the Registered Exchange Offer are not exchanged for Exchange
Securities within 180 days after the Issue Date and the Registered Exchange
Offer is not scheduled to expire within 210 days after the Issue Date, or (iii)
any Initial Purchaser so requests with respect to Securities or Private Exchange
Securities not eligible to be exchanged for Exchange Securities in the
Registered Exchange Offer and held by it following the consummation of the
Registered Exchange Offer, or (iv) any applicable law or interpretations do not
permit any Holder to participate in the Registered Exchange Offer, or (v) any
Holder that participates in the Registered Exchange Offer does not receive
freely transferable Exchange Securities in exchange for tendered Securities, or
(vi) the Company and the Guarantors so elect, then the following provisions
shall apply:

                   (a) The Company and the Guarantors shall use their reasonable
best efforts to file as promptly as reasonably practicable with the Commission,
and thereafter shall use its reasonable best efforts to cause to be declared
effective, a shelf registration statement on an appropriate form under the
Securities Act relating to the offer and sale of the Transfer Restricted
Securities (as defined below) by the Holders thereof from time to time in
accordance with the methods of distribution set forth in such registration
statement (hereafter, a "Shelf Registration Statement" and, together with any
Exchange Offer Registration Statement, a "Registration Statement").

                   (b) The Company and the Guarantors shall use their reasonable
best efforts to keep the Shelf Registration Statement continuously effective in
order to permit the prospectus forming part thereof to be used by Holders of
Transfer Restricted Securities for a period ending on the earlier of (i) two
years from the Issue Date or such shorter period that will terminate when all
the Transfer Restricted Securities covered by the Shelf Registration Statement
have been sold pursuant thereto and (ii) the date on which the Securities become
eligible for resale without volume restrictions pursuant to Rule 144 under the
Securities Act (in any such case, such period being called the "Shelf
Registration Period"). The Company and the Guarantors shall be deemed not to
have used their reasonable best efforts to keep the Shelf Registration Statement
effective during the requisite period they voluntarily take any action that
would result in Holders of Transfer Restricted Securities covered thereby not
being able to offer and sell such Transfer Restricted Securities during that
period, unless such action is required by applicable law.

                   (c) Notwithstanding any other provisions hereof, the Company
and the Guarantors will ensure that (i) any Shelf Registration Statement and any
amendment thereto and any prospectus forming part thereof and any supplement
thereto complies in all material respects

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with the Securities Act and the rules and regulations of the Commission
thereunder, (ii) any Shelf Registration Statement and any amendment thereto (in
either case, other than with respect to information included therein in reliance
upon or in conformity with written information furnished to the Company by or on
behalf of any Holder specifically for use therein (the "Holders' Information"))
does not contain an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements
therein not misleading and (iii) any prospectus forming part of any Shelf
Registration Statement, and any supplement to such prospectus (in either case,
other than with respect to Holders' Information), does not include an untrue
statement of a material fact or omit to state a material fact necessary in order
to make the statements therein, in the light of the circumstances under which
they were made, not misleading.

                   3. Liquidated Damages.

                   (a) The parties hereto agree that the Holders of Transfer
Restricted Securities will suffer damages if the Company and the Guarantors fail
to fulfill their obligations under Section 1 or Section 2, as applicable, and
that it would not be feasible to ascertain the extent of such damages.
Accordingly, if (i) the applicable Registration Statement is not filed with the
Commission on or prior to 60 days after the Issue Date, (ii) the Exchange Offer
Registration Statement or the Shelf Registration Statement, as the case may be,
is not declared effective within 150 days after the Issue Date (or in the case
of a Shelf Registration Statement required to be filed in response to a change
in law or the applicable interpretations of Commission's staff, if later, within
90 days after publication of the change in law or interpretation), (iii) the
Registered Exchange Offer is not consummated on or prior to 180 days after the
Issue Date, or (iv) the Shelf Registration Statement is filed and declared
effective within 150 days after the Issue Date (or in the case of a Shelf
Registration Statement required to be filed in response to a change in law or
the applicable interpretations of Commission's staff, if later, within 90 days
after publication of the change in law or interpretation) but shall thereafter
cease to be effective (at any time that the Company is obligated to maintain the
effectiveness thereof) without being succeeded within 30 days by an additional
Registration Statement filed and declared effective (each such event referred to
in clauses (i) through (iv), a "Registration Default"), the Company and the
Guarantors will be obligated to pay liquidated damages to each Holder of
Transfer Restricted Securities in an amount equal to .50% per annum over the
stated rate for the Transfer Restricted Securities held by such Holder for each
week or portion thereof that the Registration Default continues for the first
90-day period immediately following the occurrence of such Registration Default.
The amount of the liquidated damages shall increase by an additional .50% per
annum over the stated rate for the Transfer Restricted Securities at the
beginning of each subsequent 90-day period until all Registration Defaults have
been cured, up to a maximum amount of liquidated damages of 1.0% per annum over
the stated rate for the Transfer Restricted Securities; provided that the
Company and the Guarantors shall in no event be required to pay liquidated
damages for more than one Registration Default at any given time. Following the
cure of all Registration Defaults, the accrual of liquidated damages will cease.
As used herein, the term "Transfer Restricted Securities" means (i) each
Security until the date on which such Security has been exchanged for a freely
transferable Exchange Security in the Registered Exchange Offer, (ii) each
Security or

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Private Exchange Security until the date on which it has been effectively
registered under the Securities Act and disposed of in accordance with the Shelf
Registration Statement or (iii) each Security or Private Exchange Security until
the date on which it is distributed to the public pursuant to Rule 144 under the
Securities Act or is saleable pursuant to Rule 144(k) under the Securities Act.
Notwithstanding anything to the contrary in this Section 3(a), the Company shall
not be required to pay liquidated damages to a Holder of Transfer Restricted
Securities if such Holder failed to comply with its obligations to make the
representations set forth in the second to last paragraph of Section 1 or failed
to provide the information required to be provided by it, if any, pursuant to
Section 4(n).

                   (b) The Company shall notify the Trustee and the Paying Agent
under the Indenture immediately upon the happening of each and every
Registration Default. The Company shall pay the liquidated damages due on the
Transfer Restricted Securities by depositing with the Paying Agent (which may
not be the Company for these purposes), in trust, for the benefit of the Holders
thereof, prior to the next interest payment date specified by the Indenture and
the Securities, sums sufficient to pay the liquidated damages then due. The
liquidated damages due shall be payable on each interest payment date specified
by the Indenture and the Securities to the record holder entitled to receive the
interest payment to be made on such date. Each obligation to pay liquidated
damages shall be deemed to accrue from and including the date of the applicable
Registration Default.

                   (c) The parties hereto agree that the liquidated damages
provided for in this Section 3 constitute a reasonable estimate of and are
intended to constitute the sole damages that will be suffered by Holders of
Transfer Restricted Securities by reason of the failure of (i) the Shelf
Registration Statement or the Exchange Offer Registration Statement to be filed,
(ii) the Shelf Registration Statement to remain effective or (iii) the Exchange
Offer Registration Statement to be declared effective and the Registered
Exchange Offer to be consummated, in each case to the extent required by this
Agreement.

                   4. Registration Procedures. In connection with any
Registration Statement, the following provisions shall apply:

                   (a) The Company shall (i) furnish to CMIL and BAL, prior to
the filing thereof with the Commission, a copy of the Registration Statement and
each amendment thereof and each supplement, if any, to the prospectus included
therein and shall use its reasonable best efforts to reflect in each such
document, when so filed with the Commission, such comments as either CMIL or BAL
may reasonably propose; (ii) include the information set forth in Annex A hereto
on the cover, in Annex B hereto in the "Exchange Offer Procedures" section and
the "Purpose of the Exchange Offer" section and in Annex C hereto in the "Plan
of Distribution" section of the prospectus forming a part of the Exchange Offer
Registration Statement in each case to the extent permitted by the rules and
regulations of the Commission, and include the information set forth in Annex D
hereto in the Letter of Transmittal delivered pursuant to the Registered
Exchange Offer; and (iii) if requested by any Initial Purchaser, include the

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information required by Items 507 or 508 of Regulation S-K, as applicable, in
the prospectus forming a part of the Exchange Offer Registration Statement.

                   (b) The Company shall advise each Initial Purchaser, each
Exchanging Dealer known to the Company and each of the Holders known to the
Company (if applicable) and, if requested by any such person, confirm such
advice in writing (which advice pursuant to clauses (ii)-(v) hereof shall be
accompanied by an instruction to suspend the use of the prospectus until the
requisite changes have been made):

                   (i) when any Registration Statement filed with the Commission
         or any post-effective amendment thereto has become effective;

                   (ii) of any request by the Commission for amendments or
         supplements to any Registration Statement or the prospectus included
         therein or for additional information;

                   (iii) of the issuance by the Commission of any stop order
         suspending the effectiveness of any Registration Statement or the
         initiation of any proceedings for that purpose;

                   (iv) of the receipt by the Company or the Guarantors of any
         notification with respect to the suspension of the qualification of the
         Securities, the Exchange Securities or the Private Exchange Securities
         for sale in any jurisdiction or the initiation or threatening of any
         proceeding for such purpose; and

                   (v) of the happening of any event that requires the making of
         any changes in any Registration Statement or the prospectus included
         therein in order that the statements therein are not misleading and do
         not omit to state a material fact required to be stated therein or
         necessary to make the statements therein not misleading.

                   (c) The Company and the Guarantors will make every reasonable
effort to obtain the withdrawal at the earliest possible time of any order
suspending the effectiveness of any Registration Statement.

                   (d) The Company and the Guarantors will furnish, upon
request, to each Holder of Transfer Restricted Securities included within the
coverage of any Shelf Registration Statement, without charge, at least one
conformed copy of such Shelf Registration Statement and any post-effective
amendment thereto, including financial statements and schedules and, if any such
Holder so requests in writing, all exhibits thereto (including those, if any,
incorporated by reference).

                   (e) The Company and the Guarantors will, during the Shelf
Registration Period, promptly deliver to each Holder of Transfer Restricted
Securities included within the coverage of any Shelf Registration Statement,
without charge, as many copies of the prospectus (including each preliminary
prospectus) included in such Shelf Registration Statement and any amendment or
supplement thereto as such Holder may reasonably request; and the Company and

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the Guarantors consent to the use of such prospectus or any amendment or
supplement thereto by each of the selling Holders of Transfer Restricted
Securities in connection with the offer and sale of the Transfer Restricted
Securities covered by such prospectus or any amendment or supplement thereto.

                   (f) The Company and the Guarantors will furnish, upon
request, to each Initial Purchaser, each Exchanging Dealer, and to any other
Holder who so requests, without charge, at least one conformed copy of the
Exchange Offer Registration Statement and any post-effective amendment thereto,
including financial statements and schedules and, if any Initial Purchaser or
Exchanging Dealer or any such Holder so requests in writing, all exhibits
thereto (including those, if any, incorporated by reference).

                   (g) The Company and the Guarantors will, during the Exchange
Offer Registration Period or the Shelf Registration Period, as applicable,
promptly deliver to each Initial Purchaser, each Exchanging Dealer and such
other persons that are required to deliver a prospectus following the Registered
Exchange Offer, without charge, as many copies of the final prospectus included
in the Exchange Offer Registration Statement or the Shelf Registration Statement
and any amendment or supplement thereto as such Initial Purchaser, Exchanging
Dealer or other persons may reasonably request; and the Company consents to the
use of such prospectus or any amendment or supplement thereto by any such
Initial Purchaser, Exchanging Dealer or other persons, as applicable, as
aforesaid.

                   (h) Prior to the effective date of any Registration
Statement, the Company and the Guarantors will use their reasonable best efforts
to register or qualify, or cooperate with the Holders of Securities, Exchange
Securities or Private Exchange Securities included therein and their respective
counsel in connection with the registration or qualification of, such
Securities, Exchange Securities or Private Exchange Securities for offer and
sale under the securities or blue sky laws of such jurisdictions as any such
Holder reasonably requests in writing and do any and all other acts or things
necessary or advisable to enable the offer and sale in such jurisdictions of the
Securities, Exchange Securities or Private Exchange Securities covered by such
Registration Statement; provided that the Company and the Guarantors will not be
required to qualify generally to do business in any jurisdiction where it is not
then so qualified or to take any action which would subject it to general
service of process or to taxation in any such jurisdiction where it is not then
so subject.

                   (i) The Company and the Guarantors will cooperate with the
Holders of Securities, Exchange Securities or Private Exchange Securities to
facilitate the timely preparation and delivery of certificates representing
Securities, Exchange Securities or Private Exchange Securities to be sold
pursuant to any Registration Statement free of any restrictive legends and in
such denominations and registered in such names as the Holders thereof may
request in writing prior to sales of Securities, Exchange Securities or Private
Exchange Securities pursuant to such Registration Statement.

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                   (j) If any event contemplated by Section 4(b)(ii) through (v)
occurs during the period for which the Company and the Guarantors are required
to maintain an effective Registration Statement, the Company and the Guarantors
will promptly prepare and file with the Commission a post-effective amendment to
the Registration Statement or a supplement to the related prospectus or file any
other required document so that, as thereafter delivered to purchasers of the
Securities, Exchange Securities or Private Exchange Securities from a Holder,
the prospectus will not include an untrue statement of a material fact or omit
to state a material fact necessary in order to make the statements therein, in
the light of the circumstances under which they were made, not misleading.

                   (k) Not later than the effective date of the applicable
Registration Statement, the Company and the Guarantors will provide a CUSIP
number for the Securities, the Exchange Securities and the Private Exchange
Securities, as the case may be, and provide the applicable trustee with printed
certificates for the Securities, the Exchange Securities or the Private Exchange
Securities, as the case may be, in a form eligible for deposit with Deutsche
Bank Luxembourg S.A.

                   (l) The Company and the Guarantors will comply with all
applicable rules and regulations of the Commission and will make generally
available to its security holders as soon as practicable after the effective
date of the applicable Registration Statement an earning statement satisfying
the provisions of Section 11(a) of the Securities Act; provided that in no event
shall such earning statement be delivered later than 45 days after the end of a
12-month period (or 90 days, if such period is a fiscal year) beginning with the
first month of the Company's first fiscal quarter commencing after the effective
date of the applicable Registration Statement, which statement shall cover such
12-month period.

                   (m) The Company and the Guarantors will cause the Indenture
or the Exchange Securities Indenture, as the case may be, to be qualified under
the Trust Indenture Act as required by applicable law in a timely manner.

                   (n) The Company and the Guarantors may require each Holder of
Transfer Restricted Securities to be registered pursuant to any Shelf
Registration Statement to furnish to the Company and the Guarantors such
information concerning the Holder and the distribution of such Transfer
Restricted Securities as the Company and the Guarantors may from time to time
reasonably require for inclusion in such Shelf Registration Statement, and the
Company and the Guarantors may exclude from such registration the Transfer
Restricted Securities of any Holder that fails to furnish such information
within a reasonable time after receiving such request.

                   (o) In the case of a Shelf Registration Statement, each
Holder of Transfer Restricted Securities to be registered pursuant thereto
agrees by acquisition of such Transfer Restricted Securities that, upon receipt
of any notice from the Company or the Guarantors pursuant to Section 4(b)(ii)
through (v), such Holder will discontinue disposition of such Transfer
Restricted Securities until such Holder's receipt of copies of the supplemental
or amended prospectus contemplated by Section 4(j) or until advised in writing
(the "Advice") by

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the Company or the Guarantors that the use of the applicable prospectus may be
resumed. If the Company or the Guarantors shall give any notice under Section
4(b)(ii) through (v) during the period that the Company and the Guarantors are
required to maintain an effective Registration Statement (the "Effectiveness
Period"), such Effectiveness Period shall be extended by the number of days
during such period from and including the date of the giving of such notice to
and including the date when each seller of Transfer Restricted Securities
covered by such Registration Statement shall have received (x) the copies of the
supplemental or amended prospectus contemplated by Section 4(j) (if an amended
or supplemental prospectus is required) or (y) the Advice (if no amended or
supplemental prospectus is required).

                   (p) In the case of a Shelf Registration Statement, the
Company and the Guarantors shall enter into such customary agreements
(including, if requested, an underwriting agreement in customary form) and take
all such other action, if any, as Holders of a majority in aggregate principal
amount of the Securities, Exchange Securities and Private Exchange Securities
being sold or the managing underwriters (if any) shall reasonably request in
order to facilitate any disposition of Securities, Exchange Securities or
Private Exchange Securities pursuant to such Shelf Registration Statement.

                   (q) In the case of a Shelf Registration Statement, the
Company and the Guarantors shall (i) make reasonably available for inspection by
a representative of, and Special Counsel (as defined below) acting for, Holders
of a majority in aggregate principal amount of the Securities, Exchange
Securities and Private Exchange Securities being sold and any underwriter
participating in any disposition of Securities, Exchange Securities or Private
Exchange Securities pursuant to such Shelf Registration Statement, all relevant
financial and other records, pertinent corporate documents and properties of
Tower and its subsidiaries, including the Guarantors, and (ii) use their
reasonable best efforts to have their officers, directors, employees,
accountants and counsel supply all relevant information reasonably requested by
such representative, Special Counsel or any such underwriter (an "Inspector") in
connection with such Shelf Registration Statement.

                   (r) In the case of a Shelf Registration Statement, the
Company and the Guarantors shall, if requested by Holders of a majority in
aggregate principal amount of the Securities, Exchange Securities and Private
Exchange Securities being sold, their Special Counsel or the managing
underwriters (if any) in connection with such Shelf Registration Statement, use
their reasonable best efforts to cause (i) their counsel to deliver an opinion
relating to the Shelf Registration Statement and the Securities, Exchange
Securities or Private Exchange Securities, as applicable, in customary form,
(ii) their officers to execute and deliver all customary documents and
certificates requested by Holders of a majority in aggregate principal amount of
the Securities, Exchange Securities and Private Exchange Securities being sold,
their Special Counsel or the managing underwriters (if any) and (iii) their
independent public accountants to provide a comfort letter or letters in
customary form, subject to receipt of appropriate documentation as contemplated,
and only if permitted, by Statement of Auditing Standards No. 72.

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                   5. Registration Expenses. Tower and the Company will bear all
expenses incurred in connection with the performance of their obligations under
Sections 1, 2, 3 and 4 and Tower and the Company will reimburse the Initial
Purchasers and the Holders for the reasonable fees and disbursements of one firm
of attorneys (in addition to any local counsel) chosen by the Holders of a
majority in aggregate principal amount of the Securities, the Exchange
Securities and the Private Exchange Securities to be sold pursuant to each
Registration Statement (the "Special Counsel") acting for the Initial Purchasers
or Holders in connection therewith.

                   6. Indemnification.

                   (a) In the event of a Shelf Registration Statement or in
connection with any prospectus delivery pursuant to an Exchange Offer
Registration Statement by an Initial Purchaser or Exchanging Dealer, as
applicable, the Company and the Guarantors, jointly and severally, shall
indemnify and hold harmless each Holder (including, without limitation, any such
Initial Purchaser or Exchanging Dealer), its affiliates, their respective
officers, directors, employees, representatives and agents, and each person, if
any, who controls such Holder within the meaning of the Securities Act or the
Exchange Act (collectively referred to for purposes of this Section 6 and
Section 7 as a Holder) from and against any loss, claim, damage or liability,
joint or several, or any action in respect thereof (including, without
limitation, any loss, claim, damage, liability or action relating to purchases
and sales of Securities, Exchange Securities or Private Exchange Securities), to
which that Holder may become subject, whether commenced or threatened, under the
Securities Act, the Exchange Act, any other federal or state statutory law or
regulation, at common law or otherwise, insofar as such loss, claim, damage,
liability or action arises out of, or is based upon, (i) any untrue statement or
alleged untrue statement of a material fact contained in any such Registration
Statement or any prospectus forming part thereof or in any amendment or
supplement thereto or (ii) the omission or alleged omission to state therein a
material fact required to be stated therein or necessary in order to make the
statements therein, in the light of the circumstances under which they were
made, not misleading, and shall reimburse each Holder promptly upon demand for
any legal or other expenses reasonably incurred by that Holder in connection
with investigating or defending or preparing to defend against or appearing as a
third party witness in connection with any such loss, claim, damage, liability
or action as such expenses are incurred; provided, however, that the Company and
the Guarantors shall not be liable in any such case to the extent that any such
loss, claim, damage, liability or action arises out of, or is based upon, an
untrue statement or alleged untrue statement in or omission or alleged omission
from any of such documents in reliance upon and in conformity with any Holders'
Information; and provided, further, that with respect to any such untrue
statement in or omission from any related preliminary prospectus, the indemnity
agreement contained in this Section 6(a) shall not inure to the benefit of any
Holder from whom the person asserting any such loss, claim, damage, liability or
action received Securities, Exchange Securities or Private Exchange Securities
to the extent that such loss, claim, damage, liability or action of or with
respect to such Holder results from the fact that both (A) a copy of the final
prospectus was not sent or given to such person at or prior to the written
confirmation of the sale of such Securities, Exchange Securities or Private
Exchange Securities to such person and (B) the untrue statement in or omission
from the related preliminary prospectus was corrected in the final prospectus
unless, in

                                      -12-
<PAGE>   13

either case, such failure to deliver the final prospectus was a result of
non-compliance by the Company with Section 4(d), 4(e), 4(f) or 4(g).

                   (b) In the event of a Shelf Registration Statement, each
Holder shall indemnify and hold harmless the Company, the Guarantors, their
affiliates, their respective officers, directors, employees, representatives and
agents, and each person, if any, who controls the Company and the Guarantors
within the meaning of the Securities Act or the Exchange Act (the Company, the
Guarantors, their affiliates and respective officers, directors, employees,
representatives and agents, and each such person who controls the Company or the
Guarantors shall be collectively referred to for purposes of this Section 6(b)
and Section 7 as the Company), from and against any loss, claim, damage or
liability, joint or several, or any action in respect thereof, to which the
Company may become subject, whether commenced or threatened, under the
Securities Act, the Exchange Act, any other federal or state statutory law or
regulation, at common law or otherwise, insofar as such loss, claim, damage,
liability or action arises out of, or is based upon, (i) any untrue statement or
alleged untrue statement of a material fact contained in any such Registration
Statement or any prospectus forming part thereof or in any amendment or
supplement thereto or (ii) the omission or alleged omission to state therein a
material fact required to be stated therein or necessary in order to make the
statements therein, in the light of the circumstances under which they were
made, not misleading, but in each case only to the extent that the untrue
statement or alleged untrue statement or omission or alleged omission was made
in reliance upon and in conformity with any Holders' Information furnished to
the Company by such Holder, and shall reimburse the Company for any legal or
other expenses reasonably incurred by the Company in connection with
investigating or defending or preparing to defend against or appearing as a
third party witness in connection with any such loss, claim, damage, liability
or action as such expenses are incurred; provided, however, that no such Holder
shall be liable for any indemnity claims hereunder in excess of the amount of
net proceeds received by such Holder from the sale of Securities, Exchange
Securities or Private Exchange Securities pursuant to such Shelf Registration
Statement.

                   (c) Promptly after receipt by an indemnified party under this
Section 6 of notice of any claim or the commencement of any action, the
indemnified party shall, if a claim in respect thereof is to be made against the
indemnifying party pursuant to Section 6(a) or 6(b), notify the indemnifying
party in writing of the claim or the commencement of that action; provided,
however, that the failure to notify the indemnifying party shall not relieve it
from any liability which it may have under this Section 6 except to the extent
that it has been materially prejudiced (through the forfeiture of substantive
rights or defenses) by such failure; and provided, further, that the failure to
notify the indemnifying party shall not relieve it from any liability which it
may have to an indemnified party otherwise than under this Section 6. If any
such claim or action shall be brought against an indemnified party, and it shall
notify the indemnifying party thereof, the indemnifying party shall be entitled
to participate therein and, to the extent that it wishes, jointly with any other
similarly notified indemnifying party, to assume the defense thereof with
counsel reasonably satisfactory to the indemnified party. After notice from the
indemnifying party to the indemnified party of its election to assume the
defense of such claim or action, the indemnifying party shall not be liable to
the indemnified party under

                                      -13-
<PAGE>   14

this Section 6 for any legal or other expenses subsequently incurred by the
indemnified party in connection with the defense thereof other than the
reasonable costs of investigation; provided, however, that an indemnified party
shall have the right to employ its own counsel in any such action, but the fees,
expenses and other charges of such counsel for the indemnified party will be at
the expense of such indemnified party unless (1) the employment of counsel by
the indemnified party has been authorized in writing by the indemnifying party,
(2) the indemnified party has reasonably concluded (based upon advice of counsel
to the indemnified party) that there may be legal defenses available to it or
other indemnified parties that are different from or in addition to those
available to the indemnifying party, (3) a conflict or potential conflict exists
(based upon advice of counsel to the indemnified party) between the indemnified
party and the indemnifying party (in which case the indemnifying party will not
have the right to direct the defense of such action on behalf of the indemnified
party) or (4) the indemnifying party has not in fact employed counsel reasonably
satisfactory to the indemnified party to assume the defense of such action
within a reasonable time after receiving notice of the commencement of the
action, in each of which cases the reasonable fees, disbursements and other
charges of counsel will be at the expense of the indemnifying party or parties.
It is understood that the indemnifying party or parties shall not, in connection
with any proceeding or related proceedings in the same jurisdiction, be liable
for the reasonable fees, disbursements and other charges of more than one
separate firm of attorneys (in addition to any local counsel) at any one time
for all such indemnified party or parties. Each indemnified party, as a
condition of the indemnity agreements contained in Sections 6(a) and 6(b), shall
use all reasonable efforts to cooperate with the indemnifying party in the
defense of any such action or claim. No indemnifying party shall be liable for
any settlement of any such action effected without its written consent (which
consent shall not be unreasonably withheld), but if settled with its written
consent or if there be a final judgment for the plaintiff in any such action,
the indemnifying party agrees to indemnify and hold harmless any indemnified
party from and against any loss or liability by reason of such settlement or
judgment. No indemnifying party shall, without the prior written consent of the
indemnified party (which consent shall not be unreasonably withheld), effect any
settlement of any pending or threatened proceeding in respect of which any
indemnified party is or could have been a party and indemnity could have been
sought hereunder by such indemnified party, unless such settlement includes an
unconditional release of such indemnified party from all liability on claims
that are the subject matter of such proceeding.

                   7. Contribution. If the indemnification provided for in
Section 6 is unavailable or insufficient to hold harmless an indemnified party
under Section 6(a) or 6(b), then each indemnifying party shall, in lieu of
indemnifying such indemnified party, contribute to the amount paid or payable by
such indemnified party as a result of such loss, claim, damage or liability, or
action in respect thereof, (i) in such proportion as shall be appropriate to
reflect the relative benefits received by the Company from the offering and sale
of the Securities, on the one hand, and a Holder with respect to the sale by
such Holder of Securities, Exchange Securities or Private Exchange Securities,
on the other, or (ii) if the allocation provided by clause (i) above is not
permitted by applicable law, in such proportion as is appropriate to reflect not
only the relative benefits referred to in clause (i) above but also the relative
fault of the Company on the one hand and such Holder on the other with respect
to the statements or omissions that resulted

                                      -14-
<PAGE>   15

in such loss, claim, damage or liability, or action in respect thereof, as well
as any other relevant equitable considerations. The relative benefits received
by the Company on the one hand and a Holder on the other with respect to such
offering and such sale shall be deemed to be in the same proportion as the total
net proceeds from the offering of the Securities (before deducting expenses)
received by or on behalf of the Company, on the one hand, bear to the total
proceeds received by such Holder with respect to its sale of Securities,
Exchange Securities or Private Exchange Securities, on the other. The relative
fault shall be determined by reference to, among other things, whether the
untrue or alleged untrue statement of a material fact or the omission or alleged
omission to state a material fact relates to the Company or information supplied
by the Company on the one hand or to any Holders' Information supplied by such
Holder on the other, the intent of the parties and their relative knowledge,
access to information and opportunity to correct or prevent such untrue
statement or omission. The parties hereto agree that it would not be just and
equitable if contributions pursuant to this Section 7 were to be determined by
pro rata allocation or by any other method of allocation that does not take into
account the equitable considerations referred to herein. The amount paid or
payable by an indemnified party as a result of the loss, claim, damage or
liability, or action in respect thereof, referred to above in this Section 7
shall be deemed to include, for purposes of this Section 7, any legal or other
expenses reasonably incurred by such indemnified party in connection with
investigating or defending or preparing to defend any such action or claim.
Notwithstanding the provisions of this Section 7, an indemnifying party that is
a Holder of Securities, Exchange Securities or Private Exchange Securities shall
not be required to contribute any amount in excess of the amount by which the
total price at which the Securities, Exchange Securities or Private Exchange
Securities sold by such indemnifying party to any purchaser exceeds the amount
of any damages which such indemnifying party has otherwise paid or become liable
to pay by reason of any untrue or alleged untrue statement or omission or
alleged omission. No person guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent
misrepresentation.

                   8. Rules 144 and 144A. Tower shall use its reasonable best
efforts to file the reports required to be filed by it under the Securities Act
and the Exchange Act in a timely manner and, if at any time Tower is not
required to file such reports, it will, upon the written request of any Holder
of Transfer Restricted Securities, make publicly available other information so
long as necessary to permit sales of such Holder's securities pursuant to Rules
144 and 144A. Tower covenants that it will take such further action as any
Holder of Transfer Restricted Securities may reasonably request, all to the
extent required from time to time to enable such Holder to sell Transfer
Restricted Securities without registration under the Securities Act within the
limitation of the exemptions provided by Rules 144 and 144A (including, without
limitation, the requirements of Rule 144A(d)(4)). Upon the written request of
any Holder of Transfer Restricted Securities, Tower shall deliver to such Holder
a written statement as to whether it has complied with such requirements.
Notwithstanding the foregoing, nothing in this Section 8 shall be deemed to
require Tower to register any of its securities pursuant to the Exchange Act.

                                      -15-
<PAGE>   16

                   9. Underwritten Registrations. If any of the Transfer
Restricted Securities covered by any Shelf Registration Statement are to be sold
in an underwritten offering, the investment banker or investment bankers and
manager or managers that will administer the offering will be selected by the
Holders of a majority in aggregate principal amount of such Transfer Restricted
Securities included in such offering, subject to the consent of the Company and
the Guarantors (which shall not be unreasonably withheld or delayed), and such
Holders shall be responsible for all underwriting commissions and discounts in
connection therewith.

                   No person may participate in any underwritten registration
hereunder unless such person (i) agrees to sell such person's Transfer
Restricted Securities on the basis reasonably provided in any underwriting
arrangements approved by the persons entitled hereunder to approve such
arrangements and (ii) completes and executes all questionnaires, powers of
attorney, indemnities, underwriting agreements and other documents reasonably
required under the terms of such underwriting arrangements.

                   10. Miscellaneous.

                   (a) Amendments and Waivers. The provisions of this Agreement
may not be amended, modified or supplemented, and waivers or consents to
departures from the provisions hereof may not be given, unless the Company and
the Guarantors have obtained the written consent of Holders of a majority in
aggregate principal amount of the Securities, the Exchange Securities and the
Private Exchange Securities, taken as a single class. Notwithstanding the
foregoing, a waiver or consent to depart from the provisions hereof with respect
to a matter that relates exclusively to the rights of Holders whose Securities,
Exchange Securities or Private Exchange Securities are being sold pursuant to a
Registration Statement and that does not directly or indirectly affect the
rights of other Holders may be given by Holders of a majority in aggregate
principal amount of the Securities, the Exchange Securities and the Private
Exchange Securities being sold by such Holders pursuant to such Registration
Statement.

                   (b) Notices. All notices and other communications provided
for or permitted hereunder shall be made in writing by hand-delivery,
first-class mail, telecopier or air courier guaranteeing next-day delivery:

                   (1) if to a Holder, at the most current address given by such
         Holder to the Company in accordance with the provisions of this Section
         10(b), which address initially is, with respect to each Holder, the
         address of such Holder maintained by the Registrar under the Indenture,
         with a copy in like manner to Chase Manhattan International Limited;

                   (2) if to an Initial Purchaser, initially at its address set
         forth in the Purchase Agreement; and

                   (3) if to the Company and the Guarantors, initially at the
         address of the Company set forth in the Purchase Agreement.

                                      -16-
<PAGE>   17

                   All such notices and communications shall be deemed to have
been duly given: when delivered by hand, if personally delivered; one business
day after being delivered to a next-day air courier; five business days after
being deposited in the mail; and when receipt is acknowledged by the recipient's
telecopier machine, if sent by telecopier.

                   (c) Successors And Assigns. This Agreement shall be binding
upon the Company, the Guarantors and their successors and assigns.

                   (d) Counterparts. This Agreement may be executed in any
number of counterparts (which may be delivered in original form or by
telecopier) and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

                   (e) Definition of Terms. For purposes of this Agreement, (a)
the term "business day" means any day on which the New York Stock Exchange, Inc.
is open for trading, (b) the term "subsidiary" has the meaning set forth in Rule
405 under the Securities Act and (c) except where otherwise expressly provided,
the term "affiliate" has the meaning set forth in Rule 405 under the Securities
Act.

                   (f) Headings. The headings in this Agreement are for
convenience of reference only and shall not limit or otherwise affect the
meaning hereof.

                   (g) Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York.

                   (h) Remedies. In the event of a breach by the Company, the
Guarantors or by any Holder of any of their obligations under this Agreement,
each Holder or the Company and the Guarantors, as the case may be, in addition
to being entitled to exercise all rights granted by law, including recovery of
damages (other than the recovery of damages for a breach by the Company and the
Guarantors of their obligations under Sections 1 or 2 hereof for which
liquidated damages have been paid pursuant to Section 3 hereof), will be
entitled to specific performance of its rights under this Agreement. The
Company, the Guarantors and each Holder agree that monetary damages would not be
adequate compensation for any loss incurred by reason of a breach by it of any
of the provisions of this Agreement and hereby further agree that, in the event
of any action for specific performance in respect of such breach, it shall waive
the defense that a remedy at law would be adequate.

                   (i) No Inconsistent Agreements. The Company and the
Guarantors represent, warrant and agree that (i) they have not entered into and
shall not, on or after the date of this Agreement, enter into any agreement that
is inconsistent with the rights granted to the Holders in this Agreement or
otherwise conflicts with the provisions hereof, (ii) they have not previously
entered into any agreement which remains in effect granting any registration
rights with respect to any of its debt securities or guarantees to any person
and (iii) without limiting the generality of the foregoing, without the written
consent of the Holders of a majority in aggregate principal amount of the then
outstanding Transfer Restricted Securities, they shall not grant to any person

                                      -17-
<PAGE>   18

the right to request the Company or the Guarantors to register any debt
securities of the Company or the Guarantors under the Securities Act unless the
rights so granted are not in conflict or inconsistent with the provisions of
this Agreement.

                   (j) No Piggyback on Registrations. None of the Company, the
Guarantors nor any of their security holders (other than the Holders of Transfer
Restricted Securities in such capacity) shall have the right to include any
securities of the Company in any Shelf Registration or Registered Exchange Offer
other than Transfer Restricted Securities.

                   (k) Severability. The remedies provided herein are cumulative
and not exclusive of any remedies provided by law. If any term, provision,
covenant or restriction of this Agreement is held by a court of competent
jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the
terms, provisions, covenants and restrictions set forth herein shall remain in
full force and effect and shall in no way be affected, impaired or invalidated,
and the parties hereto shall use their reasonable best efforts to find and
employ an alternative means to achieve the same or substantially the same result
as that contemplated by such term, provision, covenant or restriction. It is
hereby stipulated and declared to be the intention of the parties that they
would have executed the remaining terms, provisions, covenants and restrictions
without including any of such that may be hereafter declared invalid, illegal,
void or unenforceable.

                                      -18-
<PAGE>   19

                   Please confirm that the foregoing correctly sets forth the
agreement among the Company, the Guarantors and the Initial Purchasers.

                                Very truly yours,

                                R.J. TOWER CORPORATION

                                 By  /s/ Daniel H. Webber
                                   --------------------------------
                                    Name:  Daniel H. Webber
                                    Title:  Vice President

                                TOWER AUTOMOTIVE, INC.

                                 By  /s/ Daniel H. Webber
                                   --------------------------------
                                    Name:  Daniel H. Webber
                                    Title:  Vice President

                                TOWER AUTOMOTIVE PRODUCTS COMPANY, INC.

                                 By  /s/ Daniel H. Webber
                                   --------------------------------
                                    Name:  Daniel H. Webber
                                    Title:  Vice President

                                R.J. TOWER CORPORATION

                                 By  /s/ Daniel H. Webber
                                   --------------------------------
                                    Name:  Daniel H. Webber
                                    Title:  Vice President

                                R.J. TOWER CORPORATION

                                 By  /s/ Daniel H. Webber
                                   --------------------------------
                                    Name:  Daniel H. Webber
                                    Title:  Vice President

                                      -19-
<PAGE>   20
                                TOWER AUTOMOTIVE DELAWARE, INC.

                                 By  /s/ Daniel H. Webber
                                   --------------------------------
                                    Name:  Daniel H. Webber
                                    Title:  Vice President

                                KALAMAZOO STAMPING AND DIE COMPANY

                                 By  /s/ Daniel H. Webber
                                   --------------------------------
                                    Name:  Daniel H. Webber
                                    Title:  Vice President

                                TOWER AUTOMOTIVE INTERNATIONAL FUNDING, INC.

                                 By  /s/ Daniel H. Webber
                                   --------------------------------
                                    Name:  Daniel H. Webber
                                    Title:  Vice President

                                TRYLON CORPORATION

                                 By  /s/ Daniel H. Webber
                                   --------------------------------
                                    Name:  Daniel H. Webber
                                    Title:  Vice President

                                ACTIVE TOOL & MANUFACTURING CO., INC.

                                 By  /s/ Daniel H. Webber
                                   --------------------------------
                                    Name:  Daniel H. Webber
                                    Title:  Vice President

                                ACTIVE PRODUCTS CORPORATION

                                 By  /s/ Daniel H. Webber
                                   --------------------------------
                                    Name:  Daniel H. Webber
                                    Title:  Vice President

                                      -20-
<PAGE>   21

                                TOWER AUTOMOTIVE SERVICES AND
                                TECHNOLOGY, INC.

                                By   /s/ Daniel H. Webber
                                   --------------------------------
                                    Name:  Daniel H. Webber
                                    Title:  Vice President

                                TOWER AUTOMOTIVE INTERNATIONAL, INC.

                                By   /s/ Daniel H. Webber
                                   --------------------------------
                                    Name:  Daniel H. Webber
                                    Title:  Vice President

                                TOWER AUTOMOTIVE INTERNATIONAL
                                HOLDINGS, INC.

                                By   /s/ Daniel H. Webber
                                   --------------------------------
                                    Name:  Daniel H. Webber
                                    Title:  Vice President

                                ALLGOODS USA, INC.

                                By   /s/ Daniel H. Webber
                                   --------------------------------
                                    Name:  Daniel H. Webber
                                    Title:  Vice President

                                      -21-
<PAGE>   22

Accepted:

CHASE MANHATTAN INTERNATIONAL LIMITED
BANK OF AMERICA INTERNATIONAL LIMITED
FIRST CHICAGO LIMITED
DONALDSON, LUFKIN & JENRETTE INTERNATIONAL
SCOTIA CAPITAL (USA) INC.
ABN AMRO INCORPORATED

         By:      Chase Manhattan International Limited

                  By  /s/ signature illegible
                    ---------------------------------
                           Authorized Signatory

                                      -22-
<PAGE>   23

                                                                         ANNEX A

                   Each broker-dealer that receives Exchange Securities for its
own account pursuant to the Registered Exchange Offer must acknowledge that it
will deliver a prospectus in connection with any resale of such Exchange
Securities. The Letter of Transmittal states that by so acknowledging and by
delivering a prospectus, a broker-dealer will not be deemed to admit that it is
an "underwriter" within the meaning of the Securities Act. This Prospectus, as
it may be amended or supplemented from time to time, may be used by a
broker-dealer in connection with resales of Exchange Securities received in
exchange for Securities where such Securities were acquired by such
broker-dealer as a result of market-making activities or other trading
activities. The Company and the Guarantors have agreed that, for a period of 180
days after the Expiration Date (as defined herein), it will make this Prospectus
available to any broker-dealer for use in connection with any such resale. See
"Plan of Distribution"

                                      -23-
<PAGE>   24

                                                                        ANNEX B

                   Each broker-dealer that receives Exchange Securities for its
own account in exchange for Securities, where such Securities were acquired by
such broker-dealer as a result of market-making activities or other trading
activities, must acknowledge that it will deliver a prospectus in connection
with any resale of such Exchange Securities. See "Plan of Distribution."

                                      -24-
<PAGE>   25

                                                                         ANNEX C

                              PLAN OF DISTRIBUTION

                   Each broker-dealer that receives Exchange Securities for its
own account pursuant to the Registered Exchange Offer must acknowledge that it
will deliver a prospectus in connection with any resale of such Exchange
Securities. This Prospectus, as it may be amended or supplemented from time to
time, may be used by a broker-dealer in connection with resales of Exchange
Securities received in exchange for Securities where such Securities were
acquired as a result of market-making activities or other trading activities.
The Company and the Guarantors have agreed that, for a period of 180 days after
the Expiration Date, it will make this prospectus, as amended or supplemented,
available to any broker-dealer for use in connection with any such resale. In
addition, until _______________, 2000, all dealers effecting transactions in the
Exchange Securities may be required to deliver a prospectus.

                   The Company will not receive any proceeds from any sale of
Exchange Securities by broker-dealers. Exchange Securities received by
broker-dealers for their own account pursuant to the Registered Exchange Offer
may be sold from time to time in one or more transactions in the
over-the-counter market, in negotiated transactions, through the writing of
options on the Exchange Securities or a combination of such methods of resale,
at market prices prevailing at the time of resale, at prices related to such
prevailing market prices or at negotiated prices. Any such resale may be made
directly to purchasers or to or through brokers or dealers who may receive
compensation in the form of commissions or concessions from any such
broker-dealer or the purchasers of any such Exchange Securities. Any
broker-dealer that resells Exchange Securities that were received by it for its
own account pursuant to the Registered Exchange Offer and any broker or dealer
that participates in a distribution of such Exchange Securities may be deemed to
be an "underwriter" within the meaning of the Securities Act and any profit on
any such resale of Exchange Securities and any commission or concessions
received by any such persons may be deemed to be underwriting compensation under
the Securities Act. The Letter of Transmittal states that, by acknowledging that
it will deliver and by delivering a prospectus, a broker-dealer will not be
deemed to admit that it is an "underwriter" within the meaning of the Securities
Act.

                   For a period of 180 days after the Expiration Date the
Company and the Guarantors will promptly send additional copies of this
Prospectus and any amendment or supplement to this Prospectus to any
broker-dealer that requests such documents in the Letter of Transmittal. The
Company and the Guarantors have agreed to pay all expenses incident to the
Registered Exchange Offer (including the expenses of one counsel for the Holders
of the Securities) other than commissions or concessions of any broker-dealers
and will indemnify the Holders of the Securities (including any broker-dealers)
against certain liabilities, including liabilities under the Securities Act.

                                      -25-
<PAGE>   26

                                                                         ANNEX D

         o         CHECK HERE IF YOU ARE A BROKER-DEALER AND WISH TO RECEIVE 10
                   ADDITIONAL COPIES OF THE PROSPECTUS AND 10 COPIES OF ANY
                   AMENDMENTS OR SUPPLEMENTS THERETO.

                   Name:
                   Address:

If the undersigned is not a broker-dealer, the undersigned represents that it is
not engaged in, and does not intend to engage in, a distribution of Exchange
Securities. If the undersigned is a broker-dealer that will receive Exchange
Securities for its own account in exchange for Securities that were acquired as
a result of market-making activities or other trading activities, it
acknowledges that it will deliver a prospectus in connection with any resale of
such Exchange Securities; however, by so acknowledging and by delivering a
prospectus, the undersigned will not be deemed to admit that it is an
"underwriter" within the meaning of the Securities Act.

                                      -26-<PAGE>   1
                                                                     EXHIBIT 4.3

                               DEPOSIT AGREEMENT

     THIS AGREEMENT is made as of this 25th day of July, 2000 by and among R.J.
Tower Corporation, a Michigan corporation (the "Company"), which is a party for
the limited purposes referred to herein, Deutsche Bank Luxembourg S.A., as
Book-Entry Depositary (the "Book-Entry Depositary"), United States Trust Company
of New York, as Trustee (solely for purposes of Section 4.11), and owners from
time to time of Book-Entry Interests.

                                    ARTICLE I

                    DEFINITIONS AND OTHER GENERAL PROVISIONS

     Section 1.01 Definitions.

          The following terms, as used herein, have the following meanings:

          "Affiliate" of any Person means any other Person directly or
indirectly controlling or controlled by or under direct or indirect common
control with such Person. For the purposes of this definition, "control", when
used in respect to any specified Person means the power to direct the management
and policies of such Person, directly or indirectly, whether through the
ownership of voting securities, by contract or otherwise; and the terms
"controlling" and "controlled" have meanings correlative to the foregoing.

          "Agent Member" means any member of, or participant in, the Depositary.

          "Board Resolution" shall have the meaning ascribed to it in the
Indenture.

          "Book-Entry Interests" means interests in any Depositary Interest
issued pursuant to this Agreement, which are eligible for trading through the
book-entry system of Euroclear or Clearstream. References to Book-Entry
Interests in a Global Security should be understood to mean Book-Entry Interests
in the Certificated Depositary Interest issued with respect to such Global
Security.

          "Business Day" shall have the meaning ascribed to it in the Indenture.

          "Certificated Depositary Interest" means a certificate (in
substantially the form set forth in Annex A hereto) representing an interest in
a Global Security held by the Common Depositary that (i) shall, at all times,
represent the right to receive 100% of the principal and premium (if any) of and
interest on such Global Security and the right to require the Common Depositary
to procure the issue of one or more Definitive Registered Securities
representing up to

<PAGE>   2
100% of the principal amount represented by such Global Security and (ii) is
issued by the Common Depositary to a Depositary or its nominee.

          "Clearstream" means Clearstream, societe anonyme (formerly known as
Cedelbank).

          "Common Depositary" means Deutsche Bank AG, London branch, as common
depositary for Euroclear and Clearstream, their successors or nominees.

          "Company" means the party named as such in this Agreement until a
successor replaces it pursuant to the applicable provisions of the Indenture
and, thereafter, means the successor.

          "Company Order" and "Company Request" shall have the meaning ascribed
to them in the Indenture.

          "Corporate Trust Office" means the offices of the Book-Entry
Depositary, at which any particular time its corporate trust business shall be
principally administered, which at the date hereof is located at 2 Boulevard
Konrad Adenauer, L-1511 Luxembourg.

          "Definitive Registered Securities" means the Securities issued
pursuant to the Indenture in substantially the form set forth in Article Two
thereto.

          "Depositary" means, Euroclear and Clearstream or, as appropriate, the
Common Depositary for Euroclear and Clearstream, or any successor, as the owner
of the Certificated Depositary Interest and indicated as such in the Book-Entry
Depositary.

          "Depositary Interest" means the Certificated Depositary Interest.

          "Event of Default" shall have the meaning ascribed to it in the
Indenture.

          "Exchange Act" means the United States Securities Exchange Act of
1934, as amended.

          "Exchange Offer" shall have the meaning ascribed to it in the
Registration Rights Agreement.

          "Euroclear" means Morgan Guaranty Trust Company of New York, as
operator of the Euroclear System.

          "Book-Entry Depositary" means the party named as such in this
Agreement or its nominee or the custodian of either until a successor shall have
become such pursuant to Section 3.08 hereof, and thereafter "Book-Entry
Depositary" shall mean its successor or nominee the custodian of either.

                                      -2-
<PAGE>   3
          "Global Security" shall have the meaning ascribed to it in the
Indenture. References to the "Global Securities" shall mean each of the Rule
144A Global Note, the Regulation S Global Note and the Institutional Accredited
Investor Global Note.

          "Holder" shall have the meaning ascribed to it in the Indenture.

          "Indenture" means the indenture of even date herewith between the
Company and United States Trust Company of New York, as Trustee relating to the
(U)150,000,000 9.25% Senior Notes due August 1, 2010 of the Company as
originally executed or as it may from time to time be supplemented or amended by
one or more indentures supplemental thereto entered into pursuant to the
applicable provisions thereof, including for all purposes the provisions of the
TIA that are deemed to be a part of and govern such instrument.

          "Institutional Accredited Investor Global Note" shall have the meaning
ascribed to it in the Indenture.

          "Officers' Certificate" shall have the meaning ascribed to it in the
Indenture.

          "Opinion of Counsel" means a written opinion from legal counsel, who
may be counsel to the Company and who shall otherwise be reasonably satisfactory
to each Book-Entry Depositary.

          "Person" means nay individual, corporation, partnership, limited
liability company, joint venture, association, joint-stock company, trust,
unincorporated organization or government or any agency or political subdivision
thereof.

          "Private Placement Legend" shall have the meaning ascribed to it in
the Indenture.

          "Registration Rights Agreement" shall have the meaning ascribed to it
in the Indenture.

          "Regulation S Global Note" shall have the meaning ascribed to it in
the Indenture.

          "Responsible Officer" means, with respect to the Book-Entry
Depositary, any vice president, any assistant vice president, the secretary, any
assistant secretary, any assistant treasurer, any trust officer or assistant
trust officer, employed by the Book-Entry Depositary's corporate trust
department or any other officer of the Book-Entry Depositary customarily
performing functions similar to those performed by any of the above-designated
officers and also means, with respect to a particular corporate trust or agency
matter, any other officer to whom such matter is referred because of his or her
knowledge and familiarity with the particular subject.

          "Restricted Security" shall mean the Global Securities and the
Definitive Securities, if any, that bear the Private Placement Legend.

                                      -3-
<PAGE>   4
          "Rule 144A Global Note" shall have the meaning ascribed to it in the
Indenture.

          "Security" shall have the meaning ascribed to it in the Indenture.

          "Securities Act" means the United States Securities Act of 1933, as
amended.

          "TIA" means the United States Trust Indenture Act of 1939 (15 U.S.C.
ss.ss. 77aaa-77bbbb) as in effect on the date of this Indenture; provided,
however, that in the event the Trust Indenture Act of 1939 is amended after such
date, "TIA" means, to the extent required by such amendment, the Trust Indenture
Act of 1939, as so amended.

          "Trustee" means the Person acting as Trustee under the Indenture until
a successor Trustee shall have become such pursuant to the applicable provisions
of the Indenture, and thereafter "Trustee" shall mean such successor Trustee.

          "Unrestricted Global Security" means a Global Security, with respect
to which Book-Entry Interests therein may be transferable without material
restriction under the Securities Act.

     Section 1.02 Rules of Construction.

          Unless the context otherwise requires: (1) a term has the meaning
assigned to it: (2) any capitalized term not otherwise defined herein shall have
the meaning ascribed to it in the Indenture; (3) "or" is not exclusive; (4)
"including" means including without limitation; (5) words in the singular
include the plural and words in the plural include the singular; and (6) the
words "herein", "hereof" and "hereunder" and other words of similar import refer
to this Agreement as a whole and not to any particular Article, Section or other
subdivision.

                                   ARTICLE II

                              BOOK-ENTRY INTERESTS

     Section 2.01 Book-Entry System.

          The Book-Entry Depositary hereby accepts custody of the Global
Securities and shall as act custodian thereof in accordance with the terms of
this Agreement. The Book-Entry Depositary shall hold such Global Securities at
its Corporate Trust Office, and the Book-Entry Depositary shall issue a
Certificated Depositary Interest with respect to each Global Security in
accordance with the rules and procedures of Euroclear and Clearstream.

     Section 2.02 Book-Entry System.

               (a) Upon acceptance by Euroclear and Clearstream of the
Certificated Depositary Interests in the Global Securities for entry into its
book-entry settlement system in

                                      -4-
<PAGE>   5
accordance with the rules and procedures of Euroclear and Clearstream,
Book-Entry Interests will be traded through the book-entry system of Euroclear
or Clearstream, and ownership of such Book-Entry Interests shall be shown in,
and the transfer of such ownership shall be effected only through, records
maintained by (i) Euroclear or Clearstream, or their respective successors or
(ii) institutions that have accounts with Euroclear or Clearstream, or their
respective successors ("Participants"). Book-Entry Interests shall be
transferable only as units in the same authorized denominations as the
applicable Securities.

               (b) The Certificated Depositary Interests shall be issuable only
to Euroclear or Clearstream or their successors or nominees. Except as provided
in Section 2.05 or Section 2.10, no owner of Book-Entry Interests shall be
entitled to receive a Definitive Registered Security on account of such
ownership, and such owner's interest therein shall be shown only in accordance
with the rules and procedures of Euroclear and Clearstream.

     Section 2.03 Procedures in the Event of an Exchange Offer.

          Upon receipt by the Book-Entry Depositary as holder of the Global
Securities of notice of either the commencement of an Exchange Offer or the
implementation of arrangements permitting the resale by holders of Securities
pursuant to the registration provisions of the Securities Act, the Book-Entry
Depositary will forward to the applicable Depositary materials relating to such
Exchange Offer or other arrangements with any additional instructions applicable
to owners of Book-Entry Interests. In the case of an Exchange Offer, upon notice
by the applicable Depositary of the principal amount of Book-Entry Interests in
the Global Securities tendered in response to the Exchange Offer, the Book-Entry
Depositary shall (i) in accordance with Section 2.2 of the Indenture, deliver to
the Trustee that portion of the Global Security with respect to which Book-Entry
Interests have been tendered and receive in exchange therefor (to the extent
such portions of the Global Security are accepted pursuant to the Exchange
Offer) a new Unrestricted Global Security and in like principal amount as the
Book-Entry Interests tendered, (ii) issue to the applicable Depositary or its
nominee a new Certificated Depositary Interest in the new Unrestricted Global
Security, (iii) record any changes in the principal amount of the Depositary
Interest in each of the Global Securities, and (iv) notify the applicable
Depositary of any such changes. Book-Entry Interests in each Unrestricted Global
Security shall be assigned a Common Code and ISIN numbers different from those
assigned to Book-Entry Interests in the Global Securities.

     Section 2.04 Record of Transfer of the Certificated Depositary Interest.

          The Company appoints the Book-Entry Depositary as its agent for the
sole purpose of maintaining at its Corporate Trust Office records in which it
shall (i) record the Common Depositary as the initial owner of each Certificated
Depositary Interest, (ii) record the transfer of any Certificated Depositary
Interest, and (iii) record the increases and decreases in the principal amount
represented by each Certificated Depositary Interest. The Certificated
Depositary Interests cannot be transferred unless such transfer is noted in the
records of the Book-Entry Depositary. The Book-Entry Depositary shall treat the
Person in whose name a

                                      -5-
<PAGE>   6
Certificated Depositary Interest is recorded in its records as the owner thereof
for all purposes whatsoever and shall not be bound or affected by any notice to
the contrary, other than an order of a court having jurisdiction over the
Book-Entry Depositary.

          The foregoing paragraph shall not (i) impose an obligation on the
Book-Entry Depositary to record the interests in or transfers of Book-Entry
Interests held by participants in a Depositary or Persons that may hold
Book-Entry Interests through participants in a Depositary or (ii) restrict
transfers of such Book-Entry Interests held by participants in a Depositary or
such Persons.

          In connection with the Book-Entry Depositary's appointment as the
Company's agent under this Section 2.04, the Company shall have such rights and
obligations as regards removal of the Book-Entry Depositary and appointment of a
successor as are specified in Section 3.06 hereof.

     Section 2.05 Transfer of the Global Securities.

          The Book-Entry Depositary shall hold each Global Security in custody
for the benefit of the Book-Entry Depositary, the Common Depositary and the
Depositary. The Book-Entry Depositary shall not transfer or lend any Global
Security or any interest therein except that the Book-Entry Depositary may
transfer the Global Securities to a successor Book-Entry Depositary in
accordance with Section 3.06 or deliver any Global Securities to any Trustee
pursuant to the Exchange Offer in accordance with Section 2.03. Notwithstanding
the foregoing, the Book-Entry Depositary shall not under any circumstances
surrender or deliver any Global Securities to the Common Depositary or the
Depositary. If (i) the Book-Entry Depositary notifies the Company and the
Trustee under Section 3.08 hereof that it is unwilling or unable to continue as
Book-Entry Depositary and no successor Book-Entry Depositary has been appointed
by the Company within 120 days of such notification, (ii) Euroclear and
Clearstream notify the Book-Entry Depositary that they are unwilling or unable
to continue as Depositary with respect to the Certificated Depositary Interests
and a successor is not appointed within 120 days by the Book-Entry Depositary at
the written request of the Company, or (iii) the Company determines pursuant to
Section 2 of the Indenture that the Global Securities should be exchanged (in
whole but not in part) for Definitive Registered Securities pursuant to Section
2 of the Indenture and, at the option of the Common Depositary, either (1) one
or more Definitive Registered Securities shall be issued pursuant to the
Indenture and deposited with the applicable Depositary in exchange for the
Certificated Depositary Interest relating to such Global Securities held by such
Depositary, where upon all outstanding Book-Entry Interests will represent
interests in such Definitive Registered Securities, or (2) Definitive Registered
Securities shall be issued in such names and denominations as the Depositary
shall specify upon cancellation of the Certificated Depositary Interests and all
Book-Entry Interests provided that in either case the exchange at the request of
the Company will not occur unless the Definitive Registered Securities issued in
exchange for the Global Securities remain accepted by the relevant clearing
agency or clearing system. The Book-Entry Depositary agrees that in either such
event it will cause the Book-Entry Depositary to promptly surrender each Global
Security held by it to the Trustee in connection with such exchange for
cancellation

                                      -6-
<PAGE>   7
pursuant to Section 2(d) of the Indenture.

     Section 2.06 Cancellation.

          If any Global Security is surrendered for payment, or for redemption
or purchase in full of all the Securities evidenced thereby or for exchange for
Definitive Registered Securities to any Person other than the Trustee then such
Global Security shall, subject to Sections 2.08, 2.09 and 2.10, become void and
be delivered to the Trustee for cancellation.

     Section 2.07 Payments in Respect of the Certificated Depositary Interests
and Global Securities.

               (a) Whenever the Book-Entry Depositary shall received from the
Paying Agent appointed under the Indenture any payment on any Global Security,
the amount so received shall be distributed promptly to the Depositary entitled
thereto, on the corresponding payment date for such Global Security. So long as
Euroclear and Clearstream are Depositaries, such payments shall be made in
accordance with the respective procedures of Euroclear or Clearstream, as
applicable.

               (b) The Book-Entry Depositary shall forward to the Company, or
its agents, such information from its records as the Company may reasonably
request to enable the Company or its agents to file necessary reports with
governmental agencies, and the Book-Entry Depositary, the Company or their
agents may (but shall not be required to) file any such reports necessary to
obtain benefits under any applicable tax treaties for each Depositary or
beneficial owners of Book-Entry Interests.

               (c) None of the Company, the Trustee, the Book-Entry Depositary
or any agent of the Company or the Trustee or the Book-Entry Depositary will
have any responsibility or liability for any aspect of the records relating to
payments made by the Depositary (or its direct or indirect participants) on
account of Book-Entry Interests or for maintaining, supervising or reviewing any
records relating to such Book-Entry Interests.

               (d) Notwithstanding any other provision of this Agreement, the
Book-Entry Depositary shall be required to pay to any Depositary only amounts
received by the Book-Entry Depositary under a Global Security in which such
Depositary holds an interest.

     Section 2.08 Redemption of Securities and Book-Entry Interests.

          In the event that the Company exercises any right of redemption under
the Indenture and terms of the Securities in respect of all or any part of any
Global Security, the Book-Entry Depositary shall promptly deliver such Global
Security to the Trustee and request the Trustee to endorse Schedule A to such
Global Security to reflect the reduction in the principal amount of such Global
Security as a result of such redemption. In addition, the Book-Entry Depositary
shall notify the applicable Depositary of the principal amount redeemed and of a

                                      -7-
<PAGE>   8
corresponding reduction of the same principal amount of the applicable
Certificated Depositary Interest. The Book-Entry Depositary shall pay all such
amounts received by it in connection with such redemption to such Depositary.

     Section 2.09 Offer to Purchase Securities and Book-Entry Interests.

          Upon receipt by the Book-Entry Depositary as holder of the Global
Security of an Offer to Purchase Securities pursuant to the Indenture, the
Book-Entry Depositary will forward the Offer to Purchase to the applicable
Depositary with any additional instructions applicable to owners of Book-Entry
Interests. Upon notice by the applicable Depositary of the principal amount of
Book-Entry Interests tendered for purchase in response to such Offer to
Purchase, the Book-Entry Depositary will surrender the applicable Global
Security in accordance with the instructions set forth in the Offer to Purchase,
indicating the portion of the principal amount of the Global Security that is
being tendered for purchase pursuant to the Offer to Purchase. Upon receipt of
any payment resulting from the Offer to Purchase, the Book-Entry Depositary
shall pay any amounts received to the applicable Depositary, indicate the
principal amount of the Global Security reduced by the Trustee in connection
with the Offer to Purchase, and notify such Depositary of a corresponding
reduction in the principal amount of the applicable Certificated Depositary
Interest.

     Section 2.10 Exchange for Definitive Registered Securities; Transfers and
Transfer Restrictions.

          If, upon an Event of Default or at any other time, the owner of a
Book-Entry Interest shall so request (such request of the owner to be given in
writing to the Company or, if an Event of Default has not occurred, only through
a Depositary), upon transfer or surrender of such owner's Book-Entry Interest to
the account of the Book-Entry Depositary maintained with a Depositary, the
Book-Entry Depositary shall (i) promptly deliver the applicable Global Security
to the Trustee and request that the Trustee exchange any part of such Global
Security for one or more Definitive Registered Securities of the same type
registered in the names specified by such Depositary and endorse Schedule A to
such Global Security to reflect the reduction in principal amount of such Global
Security resulting from such exchange, provided that the principal amount of
such Definitive Registered Securities and of such Global Security after such
exchange shall be in authorized denominations and (ii) instruct the applicable
Depositary to cancel the Book-Entry Interest surrendered or transferred to the
account of the Book-Entry Depositary maintained with such Depositary and
instruct the Common Depositary to deliver the applicable Certificated Depositary
Interest to the Book-Entry Depositary and, upon receipt thereof, endorse
Schedule A to such Certificated Depositary Interest to reflect the reduction in
principal amount of such Certificated Depositary Interest in accordance with
procedures established between the Common Depositary and the Book-Entry
Depositary.

          Thereafter, if any Global Security is still outstanding, then at the
request of any holder of a Definitive Registered Security of the same type and
upon surrender by such holder of such Definitive Registered Security to the
Registrar for registration of transfer of such Definitive

                                      -8-
<PAGE>   9
Registered Security to the Book-Entry Depositary, the Book-Entry Depositary
shall (i) surrender such Definitive Registered Security to the Registrar for
cancellation, deliver the applicable Global Security to the Trustee and request
that the Trustee endorse Schedule A thereof to increase the principal amount of
such Global Security by an amount equal to the principal amount of the
Definitive Registered Security delivered to the Registrar for cancellation and
((ii) endorse Schedule A of the applicable Certificated Depositary Interest in
accordance with procedures established between the Common Depositary and the
Book-Entry Depositary, as the case may be, in each case, for the account of such
holder equal in principal amount to the principal amount of such Definitive
Registered Security.

          If the owner of a Book-Entry Interest in one Global Security wishes at
any time to transfer such interest to a Person who wishes to take delivery
thereof in the form of a Book-Entry Interest in a second Global Security of such
series, then upon receipt by the Book-Entry Depositary of (A) an order given by
the applicable Depositary or its authorized representative directing that a
Book-Entry Interest in the second Global Security of such series in a specified
principal amount be credited to a specified Agent Members account and that a
Book-Entry Interest in the first Global Security in an equal principal amount be
debited from another specified Agent Member's account and (B) if applicable, a
certificate as provided for in the Indenture satisfactory to such Book-Entry
Depositary and duly executed by the owner of such Book-Entry Interest or his
attorney in fact duly authorized in writing, then the Book-Entry Depositary
shall (i) promptly deliver the applicable Global Securities to the Trustee and
request that the Trustee endorse Schedule A to such Global Securities to reflect
the reduction in principal amount of the first Global Security and the
corresponding increase in the second Global Security resulting from such
transfer (ii) endorse Schedule A of the applicable Certificated Depositary
Interest to reflect such adjustments in accordance with procedures established
between the Book-Entry Depositary and Common Depositary, as the case may be.

          Reference is made to Section 2 of the Indenture which sets forth
certain transfer restrictions and certification requirements relating to
exchanges or transfers between Holders of the Global Securities and/or
Definitive Registered Securities. Owners of Book-Entry Interests acknowledge
that analogous transfer restrictions and certification shall apply to transfers
and exchanges described in this Section 2.10. Accordingly, in the circumstances
where a Regulation S Certificate, IAI Certificate or Rule 144A Certificate (each
as defined in the Indenture) is required under Section 2 of the Indenture to be
delivered to the Trustee in connection with any transfer or exchange involving a
Global Security, a similar certificate shall be delivered to the Book-Entry
Depositary in connection with any analogous transfer or exchange involving a
Book-Entry Interest in such Global Security.

          The parties hereto acknowledge that pursuant to arrangements with the
Depositaries, during the Restricted Period, any trades in Book-Entry Interests
in a Regulation S Global Note will only occur in or through accounts maintained
at Euroclear and Clearstream.

          Each owner of Book-Entry Interests in the Global Securities
understands that such Book-Entry Interests have not been registered under the
Securities Act and may not be offered,

                                      -9-
<PAGE>   10
resold, pledged or otherwise transferred by such owner except (a)(i) to a person
who such owner reasonably believes is a qualified institutional buyer acquiring
for its own account or the account of a qualified institutional buyer in a
transaction meeting the requirements of Rule 144A, (ii) in an offshore
transaction meeting the requirements of Rule 903 or Rule 904 of Regulation S,
(iii) pursuant to an exemption from registration under the Securities Act
provided by Rule 144 thereunder (if available) or (iv) pursuant to an effective
registration statement under the Securities Act and (b) in accordance with all
applicable securities laws of the states of the United States and other
jurisdictions.

     Section 2.11 Record Date.

          Whenever (i) the Book-Entry Depositary shall receive notice of any
action to be taken by the holder of a Global Security, or (ii) the Book-Entry
Depositary otherwise deems it appropriate in respect of any other matter, the
Global Depositary shall fix a record date for the determination of the principal
amount represented by each Certificated Depositary Interest at such record date,
with respect to which any Depositary shall be entitled to take any such action
or to act in respect of any such matter, which record date shall be the same
date as that fixed with respect to the holder of a Global Security or holders of
Definitive Registered Securities under the Indenture. Subject to the provisions
of this Agreement, only the Depositary in whose name the Certificated Depositary
Interest is recorded in the records of the Book-Entry Depositary at the close of
business on such record date shall be entitled to receive such payment, to give
instructions as to such action or to act in respect of any such matter.

     Section 2.12 Action in Respect of the Depositary Interests.

          As soon as practicable after receipt by the Book-Entry Depositary of
notice of any solicitation of consents or request for a waiver or other action
by the holder of a Global Security under the Indenture or by the Book-Entry
Depositary under this Agreement, the Book-Entry Depositary shall mail to the
Common Depositary a notice containing (a) such information as is contained in
the notice received, (b) a statement that the Common Depositary at the close of
business on a specified record date (established in accordance with Section 2.11
hereof) will be entitled, subject to the provisions of or governing the
Depositary Interest or Global Securities, to instruct the Book-Entry Depositary
as to the consent, waiver or other action, if any, pertaining to this Agreement
or the Indenture and (c) a statement as to the manner in which such instructions
my be given. In addition, the Book-Entry Depositary will forward to the Common
Depositary or, based upon instructions received from the Common Depositary, to
owners of Book-Entry Interests, all materials pertaining to any such
solicitation, request, offer or other action. Upon the written request of the
Common Depositary received on or before the date established by the Book-Entry
Depositary for such purpose, the Book-Entry Depositary shall endeavor insofar as
practicable and permitted under the provisions of this Agreement or the
Indenture, as the case may be, to take such action regarding the requested
consent, waiver or other action in respect of all or only a portion of the
principal amount of each Certificated Depositary Interest or applicable Global
Security, as the case may be, with respect to which instructions in accordance
with any instructions set forth in such request have been received. The Common
Depositary may grant

                                      -10-
<PAGE>   11
proxies, or otherwise authorize its participants (or persons owning Book-Entry
Interests through such participants in the Common Depositary) to provide such
instructions to the Book-Entry Depositary so that it may exercise any rights of
a holder or take any other actions which a holder is entitled to take under the
Indenture. The Book-Entry Depositary shall not itself exercise any discretion in
the granting of consents or waivers or the taking of any other action in respect
of a Global Security. Without prejudice to Section 2.07(c), the records of the
Common Depositary shall, absent manifest error, be conclusive evidence of the
owners of Book-Entry Interests and the principal amount represented by such
Book-Entry Interests.

     Section 2.13 Changes Affecting the Global Securities.

          Upon any reclassification of the Global Securities or upon any
recapitalization, reorganization, merger or consolidation or sale of assets
affecting the Company or to which the Company is a part, any securities that
shall be received by the Book-Entry Depositary in exchange for or in respect of
a Global Security shall be treated as a new Global Security or as part of the
Global Security under this Agreement and any corresponding Certificated
Depositary Interest shall thenceforth represent such Global Security, including
such new securities so received.

     Section 2.14 Reports.

          The Book-Entry Depositary shall as soon as practicable send to each
Depositary any notices, reports and other communications received from the
Company that are received by a Responsible Officer of the Book-Entry Depositary
as holder of the Global Securities.

                                   ARTICLE III

                            THE BOOK-ENTRY DEPOSITARY

     Section 3.01 Certain Duties and Responsibilities.

               (a) The Book-Entry Depositary undertake to perform such duties
and only such duties as are specifically set forth in this Agreement.

          The Book-Entry Depositary shall not incur any liability to any
Depositary with respect to any Certificated Depositary Interest, any beneficial
owner or any other person hereunder or in connection herewith if, by reason of
any provision of any present or future law or regulation, of any governmental
regulatory authority or securities exchange, or by reason of any act of God or
war or other circumstance beyond the control of the Book-Entry Depositary, the
Book-Entry Depositary shall be prevented or forbidden from doing or performing
any act or thing that the terms of this Note Deposit Agreement provide shall be
done or performed.

          The Book-Entry Depositary shall not be liable under this Note Deposit
Agreement other than by reason of their own bad faith, willful misconduct or
negligence in the performance of such duties as are specifically set forth in
this Note Deposit Agreement. The Book-Entry

                                      -11-
<PAGE>   12
Depositary shall not be liable for any damages resulting from the transfer or
deliver of the Book-Entry Interests in accordance with the terms of this Note
Deposit Agreement. The Book-Entry Depositary shall not be liable for any action
or inaction by it done in good faith reliance upon the written advice of legal
counsel. The Book-Entry Depositary may rely upon any written notice, request,
direction or other document believed by it in good faith to be genuine and to
have been signed or presented by the proper party or parties.

          The Book-Entry Depositary assume no obligation nor shall it be subject
to any liability under this Note Deposit Agreement to any Depositary or any
Beneficial Owner (including, without limitation, liability with respect to the
validity or worth of the Securities), other than that it agrees to use its good
faith and reasonable care in the performance of such duties as are specifically
set forth in this Note Deposit Agreement.

          The Book-Entry Depositary make no representation or warranty and shall
at no time have any responsibility for, or liability or obligation in respect
of, the legality, validity, binding effect, adequacy or enforceability of the
Securities, the performance and observance by the Company of its obligations
under the Securities or the recoverability of any sum of interest or principal
due or to become due from the Company in respect of the Securities.

          The Book-Entry Depositary shall at no time have any responsibility
for, or obligation or liability in respect of, the financial condition,
creditworthiness, affairs, status or nature of the Company.

          The Book-Entry Depositary shall not be under any obligation to appear
in, prosecute or defend any action, suit or other proceeding in respect of any
Security or in respect of the Book-Entry Interests, or take any other action or
omit to take any action under this Note Deposit Agreement, which in its opinion
may involve it in expense or liability, unless reasonable security or indemnity
against the cost, expenses and liabilities which may be incurred by it in
connection therewith is furnished.

          The Book-Entry Depositary shall not be liable for any acts or
omissions made by a successor depositary whether in connection with a previous
act or omission of the Book-Entry Depositary or in connection with a matter
arising wholly after the removal or resignation of the Book-Entry Depositary,
provided that the Book-Entry Depositary, exercised its good faith and reasonable
care while it acted as Book-Entry Depositary.

          The Book-Entry Depositary may own and deal in any class of securities
of the Company and its affiliates and in interests in the Book-Entry Interests.
The Book-Entry Depositary may enter into other dealings with the Company or any
of its affiliates of any nature whatsoever.

     Section 3.02 Not Responsible for Recitals or Issuance of Securities.

          The recitals contained in the Indenture and in the Securities, except
the Trustee's

                                      -12-
<PAGE>   13
certificates of authentication, shall be taken as the statements of the Company
and the Book-Entry Depositary does not assume responsibility for their
correctness. The Book-Entry Depositary does not make representations as to the
validity or sufficiency of this Agreement or of the Securities or of any
offering materials. The Book-Entry Depositary shall not be accountable for the
use or application by the Company of the proceeds with respect to the
Securities.

     Section 3.03 Money Held in Trust.

          Money held by the Book-Entry Depositary in trust hereunder need not be
segregated from other funds held by the Book-Entry Depositary, except to the
extent required by law. The Book-Entry Depositary shall not be under any
obligation to invest or pay interest on any money received by it hereunder,
except as otherwise agreed with the applicable Depositary (or in the absence of
such an agreement, with the Company).

     Section 3.04 Compensation and Reimbursement.

          The Company agrees:

          (a) to pay to the Book-Entry Depositary from time to time such
     compensation as agreed between them in writing for all services rendered by
     the Book-Entry Depositary hereunder (which compensation shall not be
     limited by any provision of law with regard to the compensation of a
     trustee of an express trust);

          (b) to reimburse the Book-Entry Depositary and any predecessor
     Book-Entry Depositary upon its request for all reasonable expenses,
     disbursements and advances incurred or made by the Book-Entry Depositary in
     accordance with any provision of this Agreement (including the reasonable
     compensation and the expenses and disbursements of its agents and counsel),
     except any such expense, disbursement or advance as may be attributable to
     its negligence or bad faith; and

          (c) to indemnify the Book-Entry Depositary and any predecessor
     Book-Entry Depositary for, and to hold it harmless against, any loss,
     liability or expense incurred without negligence or bath faith on its part,
     arising out of or in connection with the acceptance or administration of
     this Agreement and its duties hereunder, including the costs and expenses
     of defending itself against or investigating any claim of liability in
     connection with the exercise or performance of any of its powers or duties
     hereunder.

          The obligations of the Company under this Section to compensate and
indemnify the Book-Entry Depositary and any predecessor Book-Entry Depositary
and to pay or reimburse the Book-Entry Depositary and any predecessor Book-Entry
Depositary for expenses, disbursements and advances shall survive the payment of
the Global Securities, resignation or removal of the Book-Entry Depositary and
satisfaction, discharge or other termination of this Agreement.

          The Book-Entry Depositary shall not be responsible for (1) taxes and
other

                                      -13-
<PAGE>   14
governmental charges or (2) such registration fees as may from time to time be
in effect for the registration of transfers of interests in the certificated
depositary interests.

     Section 3.05 Book-Entry Depositary Required: Eligibility.

          At all times when there is a Book-Entry Depositary hereunder, such
Book-Entry Depositary shall be a corporation having together with its parent, a
combined capital and surplus of at least U.S. $50,000,000, willing to act on
reasonable terms. If such corporation, or its parent, publishes reports of
condition at least annually, pursuant to law or to the requirements of the
aforesaid supervising or examining authority, then for the purposes of this
Section, the combined capital and surplus of such corporation shall be deemed to
be its combined capital and surplus as set forth in its most recent report of
condition so published. United States Trust Company of New York shall at all
times be the Trustee under the Indenture, subject to receipt of an Opinion of
Counsel that the same Person is precluded by law from acting in such capacities.
If at any time the Book-Entry Depositary shall cease to be eligible in
accordance with the provisions of this Section, it shall resign immediately in
the manner and with the effect hereinafter specified in this Article.

     Section 3.06 Resignation and Removal: Appointment of Successor.

               (a) No resignation or removal of the Book-Entry Depositary and no
appointment of a successor Book-Entry Depositary pursuant to this Article shall
become effective until (i) the acceptance of appointment by the successor
Book-Entry Depositary in accordance with the applicable requirements of Section
3.07 hereof or (ii) the issuance of Definitive Registered Securities in
accordance with Section 2.05 hereof.

               (b) The Book-Entry Depositary may resign by giving written notice
thereof to the Company and the Depositary, in accordance with Section 4.01 and
Section 4.02, 60 days prior the effective date of such resignation. The
Book-Entry Depositary may be removed at any time upon 90 days' notice by the
filing with it of an instrument in writing signed on behalf of the Company and
specifying such removal and the date when it is intended to become effective.

               (c) If at any time

               (1) the Book-Entry Depositary shall cease to be eligible under
          Section 3.05 hereof and shall fail to resign after written request
          therefor by the Company or by the Depositary, or

               (2) the Book-Entry Depositary shall become incapable of acting
          with respect to the Certified Depositary Interests or shall be
          adjudged a bankrupt or insolvent, or a receiver or liquidator of the
          Book-Entry Depositary or of its property shall be appointed or any
          public officer shall take charge or control of the Book-Entry
          Depositary or of its property or affairs for the purpose of
          rehabilitation, conservation or liquidation.

                                      -14-
<PAGE>   15
then, in any such case, (i) the Company, by Board Resolution, may immediately
remove the Book-Entry Depositary and appoint a successor Book-Entry Depositary
or (ii) the Depositary or the Book-Entry Depositary may, on behalf of itself and
all others similarly situated, petition any court of competent jurisdiction for
the removal of the Book-Entry Depositary and the appointment of a successor
Book-Entry Depositary unless the Global Securities have been completely replaced
by Definitive Registered Securities which have been issued in accordance with
the Indenture. Such court may thereupon, after such notice, if any, as it may
deem proper and prescribe, remove the Book-Entry Depositary and appoint a
successor Book-Entry Depositary.

               (d) If the Book-Entry Depositary shall resign, be removed or
become incapable of acting, or if a vacancy shall occur in the office of the
Book-Entry Depositary for any cause, the Company, by Board Resolution, shall
promptly appoint a successor Book-Entry Depositary (other than the Company) for
the Book-Entry Depositary and shall comply with the applicable requirements of
Section 3.07 hereof. If no successor Book-Entry Depositary with respect to the
Global Securities shall have been so appointed by the Company and accepted
appointment in the manner required by Section 3.07, any Depositary or the
Book-Entry Depositary may, on behalf of itself and all others similarly
situated, petition at the expense of the Company any court of competent
jurisdiction for the appointment of a successor Book-Entry Depositary unless the
Global Securities have been completely replaced by Definitive Registered
Securities which have been issued in accordance with the Indenture.

               (e) The Company shall give, or shall cause such successor
Book-Entry Depositary to give, notice of each resignation and each removal of a
Book-Entry Depositary and each appointment of a successor Book-Entry Depositary
to the applicable Depositary in accordance with Section 4.02 hereof. Each notice
shall include the name of the successor Book-Entry Depositary and the address of
its Corporate Trust Office. If the Company fails to give notice within ten days
after acceptance of appointment by the successor Book-Entry Depositary, the
successor Book-Entry Depositary shall cause such notice to be given at the
expense of the Company.

     Section 3.07 Acceptance of Appointment by Successor.

               (a) In case of the appointment hereunder of a successor
Book-Entry Depositary, every such successor Book-Entry Depositary so appointed
shall execute, acknowledge and deliver to the Company and to the retiring
Book-Entry Depositary an instrument accepting such appointment, and thereupon
the resignation or removal of the retiring Book-Entry Depositary shall become
effective and such successor Book-Entry Depositary, without any further act,
deed or conveyance, shall become vested with all the rights, powers, agencies
and duties of the retiring Book-Entry Depositary, with like effect as if
originally named as the Book-Entry Depositary hereunder; but, on the request of
the Company or a successor Book-Entry Depositary, the retiring Book-Entry
Depositary shall, upon payment of all amounts due and payable to it pursuant to
Section 3.04 hereof, execute and deliver an instrument transferring to the
successor Book-Entry Depositary all the rights and powers of the retiring

                                      -15-
<PAGE>   16
Book-Entry Depositary and shall duly assign, transfer and deliver to the
successor Book-Entry Depositary all property and money held by the retiring
Book-Entry Depositary hereunder and shall deliver the Global Securities to the
successor.

               (b) Upon request of any such successor Book-Entry Depositary, the
Company shall execute any and all instruments for more fully and certainly
vesting in and confirming to the successor Book-Entry Depositary all such
rights, powers and agencies referred to in paragraph (a) of this Section.

               (c) No successor Book-Entry Depositary shall accept its
appointment unless at the time of such acceptance such successor Book-Entry
Depositary shall be eligible under this Article.

               (d) Upon acceptance of appointment by any successor Book-Entry
Depositary as provided in this Section, the Company shall give notice thereof to
the Depositary in accordance with Section 4.02 hereof. If the acceptance of
appointment is substantially contemporaneous with the resignation of the
Book-Entry Depositary, then the notice called for by the preceding sentence may
be combined with the notice called for by Section 3.06 hereof. If the Company
fails to give such notice within 15 days after acceptance of appointment by a
successor Book-Entry Depositary, the successor Book-Entry Depositary shall
promptly cause such notice to be given at the expense of the Company.

               (e)

     Section 3.08 Merger, Conversion, Consolidation or Succession to Business.

          Any corporation into which the Book-Entry Depositary may be merged or
converted or with which it may be consolidated, or any corporation resulting
from any merger, conversion or consolidation to which the Book-Entry Depositary
shall be a party, or any corporation succeeding to all or substantially all the
agency business of the Book-Entry Depositary, shall be the successor of the
Book-Entry Depositary hereunder, without the execution or filing of any paper or
any further act on the part of any of the parties hereto, provided that such
corporation shall be otherwise eligible under this Article.

                                   ARTICLE IV

                            MISCELLANEOUS PROVISIONS

     Section 4.01 Notices to Book-Entry Depositary or Company.

          Any request, demand, authorization, direction, notice, consent, or
waiver or other document provided or permitted by this Agreement to be made
upon, given or furnished to, or filed with.

               (a) the Book-Entry Depositary by any Depositary, the Trustee or
the Company shall be sufficient for every purpose hereunder (unless otherwise
herein expressly

                                      -16-
<PAGE>   17
provided) if made, given, furnished or filed in writing and delivered (which may
be by facsimile) or mailed and received, first-class postage prepaid, to the
Book-Entry Depositary at its Corporate Trust Office, Attention: Corporate Trust
Trustee Administration Department, or at any other address previously furnished
in writing by the Book-Entry Depositary to any Depositary, the Trustee and the
Company, or

               (b) the Company by the Book-Entry Depositary shall be sufficient
for every purpose hereunder (unless otherwise herein expressly provided) if
made, given, furnished or filed in writing and delivered or mailed and received,
first-class postage prepaid to R.J. Tower Corporation, Attention: Chief
Financial Officer, 5211 Cascade Road, Suite 300, Grand Rapids, Michigan 49546,
or at any other address previously furnished in writing to such Book-Entry
Depositary by the Company.

     Section 4.02 Notice to Depositary and Owners; Waiver.

          Where this Agreement provides for notice to a Depositary or owners of
Book-Entry Interests of any event, such notice shall be sufficiently given
(unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid, to the Depositary at the address notified to the
Book-Entry Depositary, in each case not later than the latest date, and not
earlier than the earliest date, prescribed for the giving of such notice. Where
this Agreement provides for notice in any manner, such notice may be waived in
writing by the Person entitled to receive such notice, either before or after
the even, and such waiver shall be the equivalent of such notice. Waivers of
notice by a Depositary shall be filed with the Book-Entry Depositary, but such
filing shall not be a condition precedent to the validity of any such action
taken in reliance upon such waiver.

          In case by reason of the suspension of regular mail service or by
reason of any other cause it shall be impracticable to given such notice by
mail, then such notification as shall be made with the approval of the
Book-Entry Depositary shall constitute a sufficient notification for every
purpose hereunder.

     Section 4.03 Effect of Headings.

          The Article and Section headings herein are for convenience only and
shall not affect the construction hereof.

     Section 4.04 Successors and Assigns.

          All covenants and agreements of the Company in this Agreement and the
Securities shall bind the Company's successors and assigns, whether so expressed
or not.

     Section 4.05 Separability Clause.

          In case any provision in this Agreement or in the Securities shall be
invalid, illegal

                                      -17-
<PAGE>   18
or unenforceable, the validity, legality and enforceability of the remaining
provisions hereof and hereof shall not in any way be affected or impaired
thereby.

     Section 4.06 Benefits of Agreement.

          Nothing in this Agreement, the Securities or the Indenture, express or
implied, shall give to any Person, other than the parties hereto and their
successors hereunder, any benefits or any legal or equitable right, remedy or
claim under this Agreement. The owners from time to time of the Book-Entry
Interests shall be parties to this Agreement and, by their acceptance of
delivery of the Book-Entry Interests, shall be deemed to be bound by all of the
terms and conditions hereof and of the Indenture and the Securities.

     Section 4.07 GOVERNING LAW.

          THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPALS
OF CONFLICTS OF LAW THEREOF.

     Section 4.08 Counterparts.

          This Agreement may be executed in any number of counterparts by the
parties hereto on separate counterparts, each of which, when so executed and
delivered, shall be deemed an original, but all such counterparts shall together
constitute one and the same instrument.

     Section 4.09 Inspection of Agreement.

          A copy of this Agreement shall be available at all reasonable times
during normal business hours at the Corporate Trust Office of the Book-Entry
Depositary for inspection upon reasonable prior written notice by any owner of
Book-Entry Interests.

     Section 4.10 Satisfaction and Discharge.

          This Agreement upon a Company Request shall cease to be of further
effect, and the Book-Entry Depositary, at the expense of the Company, shall
execute proper instrument acknowledging satisfaction and discharge of this
Agreement, when (i) the Indenture has been satisfied and discharged pursuant to
the provisions thereof or Definitive Registered Securities have been issued and
the Global Securities have been cancelled in accordance with the provisions of
Section 2.05 or 2.06 hereof, (ii) the Company has paid or caused to be paid all
sums payable hereunder by the Company and (iii) the Company has delivered to the
Book-Entry Depositary an Officers' Certificate and an Opinion of Counsel,
stating that all conditions precedent herein provided relating to the
satisfaction and discharge of this Agreement have been complied with.

     Section 4.11 Amendments.

                                      -18-
<PAGE>   19
          The Company and the Book-Entry Depositary may amend this Agreement
without the consent of any Depositary or the owners of Book-Entry Interests:

               (a) to cure any ambiguity, omissions, defect or inconsistency;

               (b) to add to the covenants and agreements of the Book-Entry
Depositary or the Company;

               (c) to evidence or effectuate the assignment of the Book-Entry
Depositary's rights and duties to a qualified successor, as provided herein;

               (d) to evidence the succession of another person to the Company
(when a similar amendment with respect to the Indenture is being executed) and
the assumption by any such successor of the covenants of the Company therein;

               (e) to comply with any requirements of the Securities and
Exchange Commission and the TIA; or

               (f) to modify, alter, amend or supplement this Agreement in any
other manner that is not adverse to any Depositary or the owners of Book-Entry
Interests.

          Except as set forth in Clauses (a) through (f) above, no amendment
that adversely affects the Depositary may be made to this Agreement without the
consent of the Depositary. No amendment that adversely affects the rights of the
owners of Book-Entry Interests may be made to this Agreement without the consent
of the Trustee, which is made a party hereto solely for the purpose of ensuring
compliance by the other parties thereto with such obligation. The Trustee shall
hold such right to give nay such consent on trust for, and will exercise such
right only having regard to the interests of, the owners of Book-Entry
Interests. Consequently, the Trustee shall not give such consent without first
having received the consent the holders of a majority in principal amount of
Book-Entry Interests to such amendment in accordance with the procedures set out
in Section 2.11 of this Agreement. Notwithstanding the immediately preceding
sentence, any amendment which adversely affects the right of any owners of
Book-Entry Interests to receive any payment of interest, Additional Interest,
principal, Premium or Additional Amounts at the time or in the amount which they
would otherwise be entitled to receive any such payments shall only be made upon
the consent of every owner of Book-Entry Interests whose rights are so affected.

     Section 4.12 Book-Entry Depositary To Sign Amendments.

          The Book-Entry Depositary shall sign any amendment authorized pursuant
to Section 4.11 if the amendment does not adversely affect the rights, duties,
liabilities or immunities of the Book-Entry Depositary. If it does, the
Book-Entry Depositary may, but need not, sign it. In signing such amendment, the
Book-Entry Depositary shall be entitled to receive indemnity

                                      -19-
<PAGE>   20
reasonably satisfactory to it and to receive, and shall be fully protected in
reasonably relying upon, an Officers' Certificate (which need only cover the
matters set forth in clause (a) below) and an Opinion of Counsel stating that:

               (a) such amendment is authorized or permitted by this Agreement;

               (b) the Company has all necessary corporate power and authority
to execute and deliver the amendment and that the execution, delivery and
performance of such amendment has been duly authorized by all necessary
corporate action;

               (c) the execution, deliver and performance of the amendment do
not conflict with or result in the breach of or constitute a default under any
of the terms, conditions or provisions of (i) this Agreement, (ii) the Articles
of Incorporation and By-Laws of the Company or (iii) any law or regulation
applicable to the Company; and

               (d) such amendment has been duly and validly executed and
delivered by the Company, and this Agreement together with such amendment
constitutes a legal, valid and binding obligation of the Company enforceable
against the Company in accordance with its terms, except as such enforceability
may be limited by applicable bankruptcy, insolvency or similar laws affecting
the enforcement of creditors' rights generally and general equitable principles.

                                      -20-
<PAGE>   21
          IN WITNESS WHEREOF, the parties have caused this Agreement to be duly
executed as of the date first written above.

                                        R.J. TOWER CORPORATION (a Michigan
                                        Corporation)

                                                /s/ Daniel H. Webber
                                        ----------------------------------------
                                        Name:   Daniel H. Webber
                                        Title:  Vice President

                                        DEUTSCHE BANK LUXEMBOURG S.A.,
                                          as Book-Entry Depositary

                                                /s/ Mark Jones
                                        ----------------------------------------
                                        Name:   Mark Jones
                                        Title:  Attorney

                                        UNITED STATES TRUST COMPANY OF NEW
                                        YORK, as Trustee

                                                /s/ Cynthia Chaney
                                        ----------------------------------------
                                        Name:   Cynthia Chaney
                                        Title:  Assistant Vice President

                                      -21-
<PAGE>   22
                                                              ANNEX A -- Form of
                                                Certificated Depositary Interest

                        CERTIFICATED DEPOSITARY INTEREST

                      9.25% SENIOR NOTES DUE AUGUST 1, 2010

THIS CERTIFICATED DEPOSIT INTEREST HAS NOT BEEN REGISTERED UNDER THE U.S.
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND MAY NOT BE
OFFERED, SOLD, OR DELIVERED OTHER THAN IN COMPLIANCE WITH THE SENIOR NOTES
DEPOSITARY AGREEMENT REFERRED TO BELOW.

UNLESS PRESENTED TO DEUTSCHE BANK LUXEMBOURG S.A., AS BOOK-ENTRY DEPOSITARY, FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITIES IS ISSUED AS
AUTHORIZED BY THE HOLDER, ANY TRANSFER, EXCHANGE, PLEDGE OR PAYMENT UNDER THIS
CERTIFICATED DEPOSITARY INTEREST WILL BE WRONGFUL.

The holder of this Certificated Depositary Interest is subject to, and entitled
to the benefit of, the Indenture, dated as of July 25, 2000, between R.J. Tower
Corporation, a Michigan corporation (the "Issuer"), the Guarantors named therein
and United States Trust Company of New York, as Trustee, and the Note Deposit
Agreement (the "Note Deposit Agreement"), dated as of July 25, 2000, among the
Issuer, the Book-Entry Depositary, the Trustee and owners from time to time of
Book-Entry Interests (as defined therein).

The Global Depositary hereby certifies that _______________ is recorded in the
records of the Global Depositary as the owner of a certificated depositary
interest representing initial (U)150,000,000 in aggregate principal amount of
9.25% Senior Notes due August 1, 2010 of the Issuer, or such greater or lesser
amount as shall be shown by the most recent entry in the schedule hereto.

This Certificated Depositary Interest is transferable only in accordance with
the Note Deposit Agreement.

                                      A-1
<PAGE>   23
         IN WITNESS whereof the Global Depositary has caused this Certificated
Depositary Interest to be duly executed.

Dated: July 25, 2000

                                             DEUTSCHE BANK LUXEMBOURG S.A.

                                             By:
                                                --------------------------------
                                                    Duly Authorized Signatory
                                             Title

                                      A-2
<PAGE>   24
                          SCHEDULE OF PRINCIPAL AMOUNT

The initial principal amount at maturity of this Certificated Depositary
Interest shall be Euro150,000,000. The following decreases/increases in the
principal amount of this Certificated Depositary Interest have been made.

<TABLE>
<CAPTION>
DATE OF               DECREASE IN         INCREASE IN         TOTAL PRINCIPAL     NOTATION MADE BY OR
DECREASE/INCREASE     PRINCIPAL AMOUNT    PRINCIPAL AMOUNT    AMOUNT FOLLOWING    ON BEHALF OF
                                                              SUCH                BOOK-ENTRY DEPOSITARY
                                                              DECREASE/INCREASE
<S>                   <C>                 <C>                 <C>                 <C>

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</TABLE>

                                      A-3

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