Document:

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                                                                   EXHIBIT 10(Z)

                        PREFERRED STOCK VOTING AGREEMENT

         Agreement as of this 5th day of December, 2001, by and between FINOVA
Mezzanine Capital Inc. ("FINOVA") and Universal Automotive Industries, Inc. (the
"Company").

                                   RECITALS:

         First, in connection with the restructuring of a 12.25% Subordinated
Debenture due July 11 2002, issued by the Company to FINOVA, on October 30, 2001
the Company issued 100,000 shares of Series B Preferred Stock (the "Preferred
Stock") to FINOVA at an effective price of $20.00 per share. The rights of the
Preferred Stock are set forth in the Certificate of Designations, Preferences
and Rights of Series B Convertible Preferred Stock filed on October 31, 2001
with the Secretary of State for the State of Delaware (the "Certificate"). The
Certificate provides, among other things, that the Preferred is convertible into
shares of the Company's common stock, $.01 par value ("Common Stock") at a
conversion rate of ten shares of Common Stock for each share of Preferred Stock,
subject to adjustment (the "Conversion Rate").

         Second, the Certificate provides that the Conversation Rate is subject
to adjustment in the event the Company issues shares of Common Stock, or equity
securities convertible into shares of Common Stock, to officers, employees or
affiliates of the Company at a price per share less than $1.39, subject to
adjustment for stock splits, reverse stock splits and similar transactions. The
Preferred Stock is currently convertible into a total of 1,000,000 shares of the
Company's Common Stock.

         Third, the Certificate provides in part, "Except as otherwise provided
by law or by [the Certificate], the [holders of the Company's Series A Preferred
Stock], the [holders of the Preferred Stock] and the holders of [shares of
Common Stock) shall vote as one class in any and all matters with respect to
which holders of [the shares of Common Stock] have voting or consent rights.
Each share of [the Preferred Stock] shall be entitled to cast the number of
votes equal to the number of Conversion Shares into which a share of [the
Preferred Stock] is then convertible; provided, however, that any fraction of a
vote shall be rounded up or down, as the case may be, to the nearest whole vote.
The Conversion Rate to be used in connection with the foregoing shall be the
Conversion Rate in effect on the date fixed for the determination of holders of
[Common Stock] entitled to vote on the matter."

         Fourth, on October 30, 2001 (the "Closing Date"), the closing price of
the Company's Common Stock was $1.89. Had FINOVA purchased $2,000,000 worth of
Common Stock on the Closing Date, it would have received approximately 1,058,201
shares of Common Stock, representing approximately 58,201 more shares of Common
Stock than the number of shares of Common Stock into which the Preferred Stock
was convertible at the time of issuance. However, as the result of the potential
adjustment in the Conversion Rate, if the Company issues a large number of
shares of Common Stock to officers, directors, employees or affiliates at a
price per share less than $1.39, the number of shares of Common Stock into which
the Preferred Stock is convertible could increase to a number in excess of
1,058,021.

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         Fifth, the Nasdaq Stock Market, Inc. ("Nasdaq") has advised the Company
that it considers the issuance of the Preferred Stock to be in violation of
Nasdaq's Voting Rights Policy, and that in order for the Preferred Stock
issuance to be in compliance with its Voting Rights Policy, appropriate steps
must be taken to ensure that for so long as the Preferred Stock remains as such,
it be held or voted in such a manner as to ensure that the voting rights on an
as-converted basis be proportionate to the number of votes that would have been
allocable to the Preferred Stock had it been purchased at the closing price of
the Company's common stock as of the Closing Date. The parties are desirous of
taking the steps outlined below to address Nasdaq's concerns that FINOVA and its
successors in interest not exercise disproportionate voting with respect to the
Preferred Stock.

         NOW THEREFORE, in consideration of the provisions and covenants
contained herein, the parties agree as follows:

         1. Recitals. The recitals set forth above are incorporated by reference
herein and made a part hereof as if fully rewritten.

         2. Adjustment to Voting Rights. Until amendment of the Certificate as
set forth in Section 3 below, FINOVA agrees on behalf of itself (and its
successors in interest to any of the Preferred Stock) that in the event that, as
a result of an adjustment in the Conversion Rate (as defined in the Certificate)
pursuant to Section 6(a)(3) of the Certificate, the Preferred Stock becomes
convertible into more than 1,058,021 shares of the Company's Common Stock, the
holder of the Preferred Stock shall vote only such number of shares of Preferred
Stock as entitle the holder to a number of votes equal to the product of
105,822.1 and the Conversion Rate (giving effect only to adjustments to the
Conversion Rate pursuant to paragraphs 6(a)(1) and 6(a)(2) of the Certificate,
and giving no effect to conversions pursuant to paragraph 6(a)(3) of the
Certificate). Nothing contained herein shall affect the right of FINOVA (or its
successors in interest) from voting any share of Common Stock held by such party
or over which such party has been granted voting rights.

         3. Amendment to Certificate. The parties agree to use their best
efforts to, as promptly as practicable, amend the Certificate to effect the
purpose and intent of Section 2 above, which amendment, upon effectiveness, will
supersede Section 2, and shall amend and restate Section 7 of the Certificate
(set forth in the third recital above) as follows:

         Except as otherwise provided by law or by this Paragraph 7, the Series
         A Holders, the Series B Holders and the holders of Common Shares shall
         vote as one class in any and all matters with respect to which holders
         of Common Shares have voting or consent rights. Each share of Series B
         Preferred Stock shall be entitled to cast the number of votes equal to
         the number of Conversion Shares into which a share of Series B
         Preferred Stock is then convertible; provided, however, that any
         fraction of a vote shall be rounded up or down, as the case may be, to
         the nearest whole vote, and, provided further, that such number of
         votes shall not exceed the product of 105,822.1 and the Conversion Rate
         (giving effect only to adjustments to the Conversion Rate pursuant to
         Paragraphs 6(a)(1) and 6(a)(2) of this Certificate, and giving no
         effect to adjustments to the Conversion Rate made

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         pursuant to Paragraph 6(a)(3)). The Conversion Rate to be used in
         connection with the foregoing shall be tile Conversion Rate in effect
         oil tile date fixed for the determination of holders of Common Shares
         entitled to vote on the matter.

         4. Miscellaneous. This Agreement may be exercised in several
counterparts, whether by photocopy, original or facsimile. each of which when
taken together as a whole will constitute one binding original.

         IN WITNESS WHEREOF, the undersigned have executed this Agreement as of
the date first set forth above.

Universal Automotive Industries, Inc.       FINOVA Mezzanine Capital Inc.

By: /s/ Arvin Scott                         By:
   --------------------------                  --------------------------------
Its: President and CEO                      Its: Vice President
    -------------------------                  -------------------------------<PAGE>
                                                                  EXHIBIT 10(aa)

                 FIRST AMENDMENT TO DEBENTURE PURCHASE AGREEMENT

         This FIRST AMENDMENT TO DEBENTURE PURCHASE AGREEMENT (this
"Amendment") is entered into as of the 30th day of October, 2001, by and between
UNIVERSAL AUTOMOTIVE INDUSTRIES, INC. ("Company"), a Delaware corporation, and
FINOVA MEZZANINE CAPITAL INC. ("Purchaser"), a Tennessee corporation formerly
known as Sirrom Capital Corporation.

                                    RECITALS:

         WHEREAS, Purchaser is the holder of that certain Universal Automotive
Industries, Inc. 12.25% Subordinated Debenture Due July 11, 2002 (the
"Debenture") issued by Company and purchased by Purchaser pursuant to that
certain Debenture Purchase Agreement dated July 11, 1997 (the "Purchase
Agreement"); and

         WHEREAS, Purchaser and Company wish to amend the Purchase Agreement
pursuant to the terms and conditions hereof;

         NOW, THEREFORE, for valuable consideration, the receipt and sufficiency
of which are acknowledged, it is agreed as follows:

         1. Amendment of Purchase Agreement. Pursuant to the certain First
Amendment to Universal Automotive Industries, Inc. 12.25% Subordinated Debenture
Due July 11, 2002 dated of even date herewith (the "Debenture Amendment"),
Purchaser and Company amended certain terms of the Debenture. As used in the
Purchase Agreement, the term "Debentures" is hereby amended to mean the
Debenture, as amended by the Debenture Amendment. Additionally, the Purchase
Agreement is hereby amended such that t~e terms and conditions of the Debenture,
as amended by the Debenture Amendment, shall supercede any inconsistent terms in
the Purchase Agreement.

         2. Amendment of Purchase Agreement. Pursuant to the Prepayment
Agreement of even date herewith by and between Purchaser and Company, Purchaser
has agreed to surrender the Initial Warrant and all Additional Warrants (each as
defined in the Purchase Agreement) and/or all shares of common stock of the
Company received by Purchaser from the exercise of the Initial Warrant or any
Additional Warrants (the Additional Warrant to be issued to Purchaser in August,
2001, has yet to be delivered by the Company). The Purchase Agreement is hereby
amended to reflect the cancellation of all warrants issued pursuant to Sections
1.2 and 1.3 thereof.

         3. Amendment of Purchase Agreement. The following shall be added as an
additional Event of Default to Section 9.1 of the Purchase Agreement:

                  (1) The failure by the Company on or before Friday, November
         2, 2001, to amend its Articles of Incorporation to (i) increase the
         Company's authorized common stock, $0.01 par value from 15,000,000 to
         30,000,000 shares and (ii) increase the

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         Company's authorized blank check preferred stock, $0.01 par value from
         1,000,000 to 2,000,000 shares.

         4. Company's Affirmation. Company acknowledges, warrants and represents
that (i) pursuant to the Debenture, the Purchase Agreement and all other
documents executed or delivered in connection therewith (the Debenture, Purchase
Agreement and such other documents being collectively referred to herein as the
"Purchase Documents"), Company's obligation to repay the Debenture is absolute
and unconditional, and there exists no right of deduction, setoff, recoupment,
counterclaim or defense of any nature whatsoever to payment of the Debenture
that has not been released herein; (ii) the Purchase Documents are valid and
enforceable in accordance with their terms; and (iii) all of the representations
made in Section 2 of the Purchase Agreement are true and correct as of the date
hereof, except as modified or supplemented by Schedule A attached hereto and
incorporated herein by this reference.

         5. Valid Consideration; Binding Agreement. Company warrants, represents
and acknowledges that this Amendment has been executed and delivered by Company
for adequate consideration and value under all applicable laws; and that this
Amendment is valid, binding and enforceable in accordance with its terms.

         6. Notices. Any communications concerning this Amendment or the credit
described herein shall be addressed as provided in the Purchase Agreement,
except that Purchaser's addresses for notices shall be revised as follows:

         The address of Purchaser is:

                  FINOVA Mezzanine Capital Inc.
                  500 Church Street, Suite 200
                  Nashville, Tennessee 37219
                  Attention: Andrew Smitherman
                  Telecopy: 615/242-0842

         with a copy to:

                  Boult, Cummings, Conners & Berry, PLC
                  414 Union Street, Suite 1600
                  Nashville, TN 37219
                  Attention: Roger G. Jones
                  Telecopier: 615/252-6323

         7. Construction of Amendment. EXCEPT AS EXPRESSLY PROVIDED HEREIN OR IN
THE DEBENTURE AMENDMENT, THE DEBENTURE, PURCHASE AGREEMENT AND OTHER PURCHASE
DOCUMENTS SHALL REMAIN IN FULL FORCE AND EFFECT IN ACCORDANCE WITH THEIR
RESPECTIVE TERMS, AND THIS AMENDMENT SHALL NOT BE CONSTRUED TO (i) WAIVE OR
IMPAIR ANY RIGHTS, POWERS, OR REMEDIES OF PURCHASER THEREUNDER OR (ii) REQUIRE

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PURCHASER TO GRANT ADDITIONAL WAIVERS, CONSENTS OR CONCESSIONS WITH RESPECT
THERETO.

         8. Voluntary Agreement. Company represents and warrants that Company is
represented by legal counsel of its choice; has investigated fully its
alternatives to the execution and performance of this Amendment; has had ample
time to review this Amendment and consult with Company's counsel; is fully aware
of the terms contained in this Amendment; and has knowingly, voluntarily and
without coercion or duress of any kind entered into this Amendment and the
documents executed in connection with this Amendment.

         9. No Reliance on Purchaser's Analysis. Company acknowledges, warrants
and represents that, in connection with its business activities and its
execution of this Amendment, Company has not relied upon any financial
projection, budget, assessment or other analysis by Purchaser or upon any
representation by Purchaser as to the risks, benefits or prospects of Company's
business activities or present or future capital needs incidental thereto. all
such considerations having been examined fully and independently by Company.

         10. Consent to Jurisdiction; Venue. COMPANY HEREBY IRREVOCABLY CONSENTS
TO THE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE MIDDLE DISTRICT
OF TENNESSEE AND OF ALL TENNESSEE STATE COURTS SITTING IN DAVIDSON COUNTY,
TENNESSEE, FOR THE PURPOSE OF ANY LITIGATION TO WHICH PURCHASER MAY BE A PARTY
AND WHICH ARISES FROM OR RELATES TO THIS AMENDMENT OR THE PURCHASE DOCUMENTS. IT
IS FURTHER AGREED THAT VENUE FOR ANY SUCH ACTION SHALL LIE EXCLUSIVELY WITH
COURTS SITTING IN DAVIDSON COUNTY, TENNESSEE, UNLESS PURCHASER AGREES TO THE
CONTRARY IN WRITING.

         11. Not Partners; No Third Party Beneficiaries. Nothing contained
herein or in any related document shall be deemed to render Purchaser a partner
of Company for any purpose. This Amendment has been executed for the sole
benefit of Purchaser and Company and there are no third party beneficiaries
hereof.

         12. Indulgence Not Waiver. Purchaser's indulgence in any other
departure from the terms of this Amendment shall not prejudice Purchaser's right
to demand strict compliance with this Amendment.

         13. Amendment and Waiver in Writing. No provision of this Amendment can
be amended or waived, except by a statement in writing signed by the party
against which enforcement of the amendment or waiver is sought.

         14. Expenses. Company agrees to pay any and all costs and expenses
(including, without limitation, reasonable attorneys' fees and litigation
expenses) incurred by Purchaser and arising out of or relating to any breach of
any covenant or agreement or the material incorrectness or inaccuracy of any
representation and warranty of Company contained in this Amendment or any
document delivered to Purchaser by Company pursuant to the terms of this

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Amendment.

         15. Assignment. This Amendment shall be binding upon and inure to the
benefit of the respective heirs, successors and assigns of Company and
Purchaser, except that Company may not assign any rights or delegate any
obligations arising hereunder without the prior written consent of Purchaser.
Any attempted assignment or delegation without the required prior consent shall
be void.

         16. Entire Agreement. This Amendment and the other written agreements
between Company and Purchaser represent the entire agreement between the parties
concerning the subject matter hereof, and all oral discussions and prior
agreements are merged therein.

         17. Severability. Should any provision of this Amendment be invalid or
unenforceable for any reason, the remaining provisions hereof shall remain in
full effect.

         18. Counterpart Execution. This Amendment may be executed in
counterparts via facsimile, each of which will be deemed an original document,
but all of which will constitute a single document. This document will not be
binding on or constitute evidence of a contract between the parties until such
time as a counterpart of this document has been executed by each party to this
Amendment.

         19. Applicable Law. The validity, construction and enforcement of this
Amendment shall be determined according to the substantive laws of Illinois
without regard to conflicts principles.

         20. Gender and Number. Words used herein indicating gender or number
shall be read as context may require.

         21. Captions Not Controlling. Captions and headings have been included
in this Amendment for the convenience of the parties, and shall not be construed
as affecting the content of the respective sections.

         22. Waiver of Jury Trial. COMPANY AND PURCHASER HEREBY KNOWINGLY AND
VOLUNTARILY WAIVE ANY RIGHT TO A TRIAL BY JURY WITH REGARD TO ANY ACTION,
PROCEEDINGS, CLAIMS OR COUNTERCLAIMS, WHETHER IN CONTRACT OR IN TORT, AT LAW OR
IN EQUITY, OF ANY TYPE OR NATURE WHATSOEVER ARISING UNDER OR CONCERNING TI-HS
AMENDMENT OR THE PURCHASE DOCUMENTS.

         Executed as of the date first written above

                                     FINOVA MEZZANINE CAPITAL, INC., a
                                     Tennessee corporation

                                     By: /s/ Myles A. MacDonald
                                        ----------------------------------------

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

                                     UNIVERSAL AUTOMOTIVE INDUSTRIES,
                                     INC., a Delaware corporation

                                     By: /s/ Yehuda Tzur
                                        ----------------------------------------
                                     Title: Chairman
                                           -------------------------------------

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