Document:

exv10wj

 

Exhibit 10.j

 

 

SHAREHOLDERS AGREEMENT

BY AND AMONG

TRIMAS CORPORATION,

METALDYNE COMPANY LLC,

THE HEARTLAND ENTITIES LISTED ON THE

SIGNATURE PAGES HERETO, AND

THE OTHER SHAREHOLDERS NAMED HEREIN OR ADDED

AS PARTIES HERETO FROM TIME TO TIME

 

DATED AS OF JUNE 6, 2002

AS AMENDED AND RESTATED AS OF JULY 19, 2002

 

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	ARTICLE I
	 	 	 	 
	 
	 	 	 	 	 	 
	DEFINITIONS; RULES OF CONSTRUCTION
	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 1.01.
	 	Definitions	 	 	1	 
	SECTION 1.02.
	 	Rules of Construction	 	 	7	 
	 
	 	 	 	 	 	 
	ARTICLE II
	 	 	 	 
	 
	 	 	 	 	 	 
	REPRESENTATIONS AND WARRANTIES
	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 2.01.
	 	Authority; Enforceability	 	 	8	 
	SECTION 2.02.
	 	No Breach	 	 	8	 
	SECTION 2.03.
	 	Consents	 	 	8	 
	SECTION 2.04.
	 	Share Ownership	 	 	9	 
	SECTION 2.05.
	 	No Post-Closing Breach	 	 	9	 
	 
	 	 	 	 	 	 
	ARTICLE III
	 	 	 	 
	 
	 	 	 	 	 	 
	SHARE TRANSFERS
	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 3.01.
	 	Restrictions on Transfer	 	 	9	 
	SECTION 3.02.
	 	Exceptions to Restrictions	 	 	10	 
	SECTION 3.03.
	 	Improper Transfer	 	 	10	 
	SECTION 3.04.
	 	Restrictive Legend	 	 	10	 
	 
	 	 	 	 	 	 
	ARTICLE IV
	 	 	 	 
	 
	 	 	 	 	 	 
	RIGHTS OF CERTAIN SHAREHOLDERS
	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 4.01.
	 	Rights of First Offer	 	 	11	 
	SECTION 4.02.
	 	Tag-Along Rights	 	 	13	 
	SECTION 4.03.
	 	Drag-Along Rights	 	 	15	 
	SECTION 4.04.
	 	Information	 	 	16	 
	SECTION 4.05.
	 	Preemptive Rights	 	 	18	 
	SECTION 4.06.
	 	Board of Directors	 	 	20	 
	SECTION 4.07.
	 	Transaction with Affiliates	 	 	22	 

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	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	ARTICLE V
	 	 	 	 
	 
	 	 	 	 	 	 
	REGISTRATION RIGHTS
	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 5.01.
	 	Company Registration	 	 	23	 
	SECTION 5.02.
	 	Demand Registration Rights	 	 	24	 
	SECTION 5.03.
	 	Registration Procedures	 	 	28	 
	SECTION 5.04.
	 	Registration Expenses	 	 	33	 
	SECTION 5.05.
	 	Indemnification	 	 	33	 
	SECTION 5.06.
	 	1934 Act Reports	 	 	36	 
	SECTION 5.07.
	 	Holdback Agreements	 	 	36	 
	SECTION 5.08.
	 	Participation in Registrations	 	 	37	 
	SECTION 5.09.
	 	Remedies	 	 	37	 
	SECTION 5.10.
	 	Other Registration Rights	 	 	37	 
	SECTION 5.11.
	 	Rule 144	 	 	38	 
	 
	 	 	 	 	 	 
	ARTICLE VI
	 	 	 	 
	 
	 	 	 	 	 	 
	MISCELLANEOUS
	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 6.01.
	 	Notices	 	 	38	 
	SECTION 6.02.
	 	Binding Effect; Benefits; Entire Agreement	 	 	38	 
	SECTION 6.03.
	 	Waiver	 	 	39	 
	SECTION 6.04.
	 	Amendment	 	 	39	 
	SECTION 6.05.
	 	Assignability	 	 	39	 
	SECTION 6.06.
	 	Applicable Law	 	 	39	 
	SECTION 6.07.
	 	Specific Performance	 	 	40	 
	SECTION 6.08.
	 	Severability	 	 	40	 
	SECTION 6.09.
	 	Additional Securities Subject to Agreement	 	 	40	 
	SECTION 6.10.
	 	Section and Other Headings	 	 	40	 
	SECTION 6.11.
	 	Counterparts	 	 	40	 
	SECTION 6.12.
	 	Termination of Certain Provisions	 	 	40	 
	SECTION 6.13.
	 	ERISA Matters	 	 	41	 
	SECTION 6.14.
	 	Regulatory Cooperation	 	 	41	 
	SECTION 6.15.
	 	Publicity	 	 	41	 
	SECTION 6.16.
	 	MCLLC Securities	 	 	42	 

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SHAREHOLDERS AGREEMENT

     THIS AGREEMENT (the “Agreement”), dated as of June 6, 2002, and amended and restated as of
July 19, 2002, by and among TRIMAS CORPORATION, a Delaware corporation (the “Company”), METALDYNE
COMPANY, LLC, a Delaware limited liability company (“MCLLC”), Masco Capital Corporation, a Delaware
corporation, hIP Side-by-Side Partners, L.P., a Delaware limited partnership, the Heartland
entities listed on the signature pages hereto and the other Shareholders listed on the signature
pages hereto (each of Sponsor, MCLLC, Masco Capital Corporation, HIP Side-by-Side Partners, L.P.,
the other shareholders party hereto and each other Person executing a Joinder Agreement after the
date hereof, individually a “Shareholder” and together the “Shareholders”).

     WHEREAS, each Shareholder listed on Schedule 2.04, other than MCLCC, has purchased (the “Stock
Purchase”) shares of the Company’s common stock, $.01 par value (the “Common Stock”) on the
original date hereof or on the date of the amendment and restatement.

     WHEREAS, as a result of and in connection with the Stock Purchase, each Shareholder owns the
number of shares of Common Stock set forth on Schedule 2.04 hereto.

     WHEREAS, the parties hereto desire to enter into this agreement to provide for certain rights
and restrictions with respect to the Common Stock.

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

ARTICLE I

DEFINITIONS; RULES OF CONSTRUCTION

                    SECTION 1.01. Definitions. The following terms, as used herein, have the following meanings:

     “ADJUSTMENTS” means adjustments to the number of shares of Common Stock outstanding as a
result of a stock split, stock dividend, reclassification, subdivision or reorganization,
recapitalization or similar event.

     “ADVICE” see Section 5.03(p).

     “AFFILIATE” of any specified Person means any other Person directly or indirectly controlling,
controlled by or under direct or indirect common control with such specified

 

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Person. For the purposes of this definition, “control” when used with respect to any 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.

     “AGREEMENT” see the recitals to this Agreement.

     “ASSIGNEE” see Section 4.01(c).

     “BUSINESS DAY” means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day
on which banking institutions in the City of New York are authorized or obligated by law or
executive order to close.

     “CAPITAL STOCK” means, with respect to any Person, except as otherwise provided in Section
4.05, any and all shares, interests, participations, rights in or other equivalents (however
designated) of such Person’s capital stock, and any rights (other than debt securities convertible
into capital stock), warrants or options exchangeable or exercisable for or convertible into such
capital stock.

     “COMMISSION”
means the Securities and Exchange Commission.

     “COMMON STOCK”
see the recitals to this Agreement.

     “COMPANY”
see the recitals to this Agreement.

     
“COMPANY OPTION PERIOD” see Section 4.01(b).

     
“CONVERTIBLE SECURITY” see
Section 6.16(b).

     
“DEMAND CONDITIONS” see Section 5.02(b).

     “DEMAND HOLDERS” means MCLLC (on behalf of itself and its Direct Permitted Transferees) or
Sponsor (on behalf of itself and its Direct Permitted Transferees).

     “DEMAND REGISTRATION” see Section 5.02(a).

     “DIRECT PERMITTED TRANSFEREE” means

     (i) with respect to any Shareholder who is a natural person, (1) the spouse or any lineal
descendant (including by adoption and stepchildren) of such Shareholder, (2) any trust of
which such Shareholder is the trustee and which is established solely for the benefit of any
of the foregoing individuals or (3) any partnership, all of the

 

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general partner(s) and limited partner(s) (if any) of which are one or more Persons
identified in this clause (i);

     (ii) with respect to Sponsor, any Affiliate of Sponsor;

     (iii) with respect to MCLLC, Metaldyne and any controlled Affiliate of Metaldyne
(including any wholly-owned subsidiary of Metaldyne);

     (iv) with respect to any Institutional Shareholder, any Affiliate of such Institutional
Shareholder; and

     (v) with respect to any Shareholder, any institutional lender to which such Shareholder
pledges or grants a security interest in shares of Common Stock in a bona fide transaction
effected in good faith, provided that (x) such pledgee executes a Joinder Agreement and (y)
prior to any subsequent foreclosure or sale of such shares or any Transfer resulting from such
foreclosure is effected, the provisions of Section 4.01 must be satisfied.

     “ELIGIBLE OFFERING” see Section 4.05(a).

     “FIRST OPTION” see Section 4.01(b).

     “GAAP” means United States generally accepted accounting principles consistently applied
throughout the specified period.

     “HEARTLAND ENTITIES” means Heartland Industrial Partners, L.P., Heartland Industrial Partners
(FF), L.P., Heartland Industrial Partners (K1), L.P., Heartland Industrial Partners (C1), L.P., HIP
Side-by-Side Partners, L.P. and Direct Permitted Transferees of any of the foregoing.

     “HOLDER” means any Demand Holder or Incidental Demand Holder.

     “INCIDENTAL DEMAND HOLDER” see Section 5.02.

     “INITIAL PUBLIC OFFERING” means either (x) an underwritten initial public offering of Common
Stock pursuant to an effective registration statement filed under the 1933 Act (excluding
registration statements filed on Form S-8, or any similar successor form or another form used for a
purpose similar to the intended use for such forms) or (y) the listing of the Common Stock on a
national securities exchange or authorization for quotation on the Nasdaq National Market System.

     “INSTITUTIONAL SHAREHOLDER” means any Shareholder that is not a natural person (other than
Sponsor).

 

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     “INVESTOR’S NOTICE” see Section 4.01(a).

     “IPO PRIMARY DEMAND” see Section 5.02(a).

     “JOINDER AGREEMENT” means a joinder agreement, a form of which is attached hereto as Exhibit
A.

     “METALDYNE” means Metaldyne Corporation.

     “METALDYNE SHAREHOLDERS AGREEMENT” means that certain shareholders agreement dated November
28, 2000 as amended, between Metaldyne and the shareholders thereto.

     “1933 ACT” means the Securities Act of 1933.

     “1934 ACT” means the Securities Exchange
Act of 1934, as amended.

     “OFFERED SHARES” see Section 4.01(a).

     “PERMITTED TRANSFEREE” means

     (i) with respect to any Shareholder who is a natural person, (1) the spouse or any lineal
descendant (including by adoption and stepchildren) of such Shareholder, (2) any trust of
which such Shareholder is the trustee and which is established solely for the benefit of any
of the foregoing individuals, (3) any charitable foundation selected by such Shareholder, or
(4) any partnership, all of the general partner(s) and limited partner(s) (if any) of which are
one or more Persons identified in this clause (i), provided that, in the case of clauses (1),
(2), (3) or (4), such Person executes a Joinder Agreement;

     (ii) with respect to Sponsor, (1) any investor in Sponsor or an Affiliate of such
investor in Sponsor or an investor in any fund or other investment vehicle established or
managed by Sponsor or any of its controlled Affiliates or any other Person which is an
Affiliate of Sponsor on the date hereof, (2) any of the Shareholders and any of their
respective Affiliates, (3) any controlled Affiliate of Sponsor, and (4) any investor in
Sponsor that is an investment fund in connection with a pro rata distribution of shares of
Common Stock to all investors in Sponsor at the time of the expiration or termination of the
fund, provided that, in the case of clauses (1), (2), (3) or (4), any such Person executes a
Joinder Agreement; and provided, further, that, in the case of the preceding clauses (1),
(2), (3) or (4), Transfers to such Persons would not cause Sponsor to own, together with its
Affiliates (other than Metaldyne or any of its subsidiaries),

 

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a number of shares equal to less than thirty-five percent (35%) of the
outstanding shares of Common Stock after giving effect to any such Transfer;

     (iii) with respect to MCLLC, any controlled Affiliate of Metaldyne (including any
wholly-owned subsidiary of MCLLC), provided that such Person executes a Joinder Agreement;

     (iv) with respect to any Institutional Shareholder, (1) any Affiliate of such
Institutional Shareholder, (2) any investor of such Institutional Shareholder that is an
investment fund in connection with a pro rata distribution of shares of Common Stock to all
investors in such Institutional Shareholder at the time of the expiration or termination of
the fund, or (3) any Person acquiring all or substantially all of the investment portfolio
of such Institutional Shareholder; and provided, further, that, in the case of clause (1), (2)
or (3), all such Persons execute a Joinder Agreement; and

     (v) with respect to any Shareholder, any institutional lender to which such Shareholder
pledges or grants a security interest in shares of Common Stock in a bona fide transaction
effected in good faith, provided that (x) such pledgee executes a Joinder Agreement and (y)
prior to any subsequent foreclosure or sale of such shares or any Transfer resulting from such
foreclosure is effected, the provisions of Section 4.01 must be satisfied.

     “PERSON” means an individual, a corporation, a partnership, an association, a trust or any
other entity or organization, including a government, a political subdivision or an agency or
instrumentality thereof.

     “PIGGYBACK HOLDER” see Section 5.01(a).

     “PIGGYBACK REGISTRATION” see Section 5.01(a).

     “PRO RATA PORTION” means, with respect to shares of Common Stock held by a Shareholder at any
date of determination such number of shares of Common Stock owned by such Shareholder as would
result in such Shareholder selling the same percentage of the total number of shares of Common
Stock held by such Shareholder in the Transfer subject to the applicable Transfer Notice (the
“Subject Sale”) as the Sponsor Transferor sells in the Subject Sale (assuming, with respect to the
Transfer Notice, that all Shareholders have exercised their Tag-Along Right).

     “PURCHASER” see Section 4.02(a).

     “QUALIFYING PUBLIC EQUITY OFFERING” means either (x) one or more underwritten public
offerings of Common Stock pursuant to an effective registration statement filed

 

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under the 1933 Act (excluding registration statements filed on Form S-8, or any similar successor
form) resulting in aggregate gross proceeds to the Company of $100,000,000 or more or (y) the
listing of the Common Stock on a national securities exchange or authorization for quotation on the
Nasdaq National Market System for which there is a public float of at least $100,000,000 held by
non-Affiliates of the Company.

     “REGISTRABLE SECURITIES” shall mean any of (i) the shares of Common Stock owned by any
Shareholder at the time of determination and (ii) any other securities issued or issuable with
respect to the Common Stock by way of a stock split, stock dividend, reclassification, subdivision
or reorganization, recapitalization or similar event. As to any particular Registrable Securities,
such securities shall cease to be Registrable Securities when (a) a registration statement with
respect to the offering of such securities by the holder thereof shall have been declared effective
under the 1933 Act and such securities shall have been disposed of by such holder pursuant to such
registration statement, (b) such securities have been sold to the public pursuant to Rule 144 (or
any similar provision then in force) promulgated under the 1933 Act, (c) except for purposes of
Section 5.02, such securities shall have been otherwise transferred and new certificates for such
securities not bearing a legend restricting further transfer shall have been delivered by the
Company or its transfer agent and subsequent disposition of such securities shall not require
registration or qualification under the 1933 Act or any similar state law then in force or (d) such
securities shall have ceased to be outstanding.

     “REGISTRATION” see Section 5.03.

     “REPRESENTATIVES” means the officers, employees, directors and agents of such Shareholder,
including representatives of its legal, accounting and financial advisors.

     “REQUEST NOTICE” see Section 5.02(a).

     “SECOND OPTION” see Section
4.01(c).

     “SECONDARY DEMAND REGISTRATION” see Section 5.02(a).

     “SHAREHOLDERS” see the recitals to this Agreement.

     “SIGNIFICANT SUBSIDIARY” means any subsidiary of the Company that would be a “significant
subsidiary” as such term is defined in Rule 1.02 of Regulation S-X under the 1933 Act.

     “SPONSOR” means collectively the Heartland Entities or Heartland Industrial Partners, L.P.
acting on behalf of the other Heartland Entities.

     “SPONSOR OPTION PERIOD” see Section 4.01(c).

 

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     “SUBSTANTIAL CHANGE OF CONTROL” means the sale, lease or transfer in one or a series of
related transactions of at least a majority of the consolidated assets of the Company and its
subsidiaries or a majority of the Capital Stock of the Company representing the right to vote for
directors to any Person or “group” of Persons (other than Sponsor and its Affiliates) whether
direct or indirect or by way of any merger, consolidation or other business combination or purchase
of beneficial ownership or otherwise.

     “TRANSACTIONS” has the meaning set forth in the TriMas Purchase Agreement.

     “TRANSFER” means the direct or indirect offer, sale, donation, assignment (as collateral or
otherwise), pledge, hypothecation, encumbrance, transfer or disposition of any security.

     “TRANSFER NOTICE” see Section 4.02(a).

     “TRANSFEREE” means any Person who acquires shares of Common Stock from a Shareholder and who
is not a Permitted Transferee.

     “TRIGGERING EVENT” means the earlier of (i) the fourth anniversary of the date hereof,
provided the Demand Conditions are satisfied, and (ii) the 180th day after an Initial Public
Offering.

     “TRIMAS PURCHASE AGREEMENT” means the Stock Purchase Agreement dated as of May 17, 2002 among
the Company, Metaldyne and Heartland Industrial Partners, L.P.

                    SECTION 1.02. Rules of Construction. For purposes of this Agreement whenever a threshold for
the dollar amount of cash invested in Common Stock or the percentage of ownership of Common Stock
is to be determined as to a Shareholder, the cash investments and the beneficial ownership of
Direct Permitted Transferees of such Shareholder shall be
aggregated with the cash investments and beneficial ownership of such Shareholder and the cash
investments and the beneficial ownership of the Heartland Entities will be deemed to be aggregated;
provided that in no event shall the cash investments and beneficial ownership of MCLLC and Sponsor
be deemed aggregated for such purposes.

ARTICLE II

REPRESENTATIONS AND WARRANTIES

     Each of the parties hereby severally represents and warrants to each of the other parties as
follows as of the original date hereof and as of the amendment and restatement:

 

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                    SECTION 2.01. Authority; Enforceability. Such party has the legal capacity or corporate power
and authority to enter into this Agreement and to carry out its obligations hereunder. Such party
(in the case of parties that are not natural persons) is duly organized and validly existing under
the laws of its jurisdiction of organization, and the execution of this Agreement and the
consummation of the transactions contemplated herein have been duly authorized by all necessary
action. No other act or proceeding, corporate or otherwise, on its part is necessary to authorize
the execution of this Agreement or the consummation of any of the transactions contemplated hereby.
This Agreement has been duly executed by such party and constitutes its legal, valid and binding
obligation, enforceable against it in accordance with the terms of this Agreement, subject to
applicable bankruptcy, insolvency, reorganization, moratorium and other laws affecting the rights
of creditors generally and to the exercise of judicial discretion in accordance with general
principles of equity (whether applied by a court of law or of equity).

                    SECTION 2.02. No Breach. Neither the execution of this
Agreement nor the performance by such party of its obligations hereunder nor the consummation of
the transactions contemplated hereby or by the Transactions does or will

          (a) in the case of parties that are not natural persons, conflict with or
violate its certificate of incorporation, bylaws or other organizational
documents;

          (b) violate, conflict with or result in the breach or termination of, or
otherwise give any other person the right to accelerate, renegotiate or
terminate or receive any payment or constitute a default or an event of default
(or an event which with notice, lapse of time, or both, would constitute a
default or event of default) under the terms of, any material contract or
agreement to which it is a party or by which it or any of its assets or
operations are bound or affected; or

          (c) constitute a violation by such party of any laws, rules or regulations
of any governmental, administrative or regulatory authority or any judgments,
orders, rulings or awards of any court, arbitrator or other judicial authority
or any governmental, administrative or regulatory authority.

                    SECTION 2.03. Consents. (a) No consent, waiver, approval, authorization, exemption,
registration, license or declaration is required to be made or obtained by such party, other than
those which have been made or obtained, in connection with (i) the execution or enforceability of
this Agreement or (ii) the consummation of any of the transactions contemplated hereby or by the
Transactions.

                    (b) The Company represents and warrants that no consent, waiver, approval, authorization,
exemption, registration, license or declaration is required to be made or obtained, other than
those which have been made or obtained,

 

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 in connection with the July 19, 2002 amendment and restatement of this Agreement.

                    SECTION 2.04. Share Ownership. (a) The Company represents and warrants that in the case of a
Shareholder, such party owns, as of the amendment and restatement, the number of shares of Capital
Stock of the Company set forth opposite such party’s name in Schedule 2.04 attached hereto, free
and clear of any and all liens, claims and encumbrances, other than those created by this
Agreement.

                    (b) The Company represents and warrants that, as of the original date hereof after giving
effect to the Transactions and as of the amendment and restatement, the authorized capital stock of
the Company consists of (A) 400,000,000 shares of Common Stock, of which 20,000,000 shares of
Common Stock are issued and outstanding, and (B) 100,000,000 shares of preferred stock, of which no
shares of preferred stock are issued and outstanding. Except as provided for in this Agreement and
the TriMas Purchase Agreement, no subscription, warrant, option, convertible or exchangeable
security or other right to purchase or acquire any shares of Capital Stock of the Company is
authorized or outstanding and the Company has no obligation to issue any subscription, warrant,
option, convertible or exchangeable security or other such right.

                    (c) The Company represents and warrants that the shares of Common Stock issued to each
Shareholder in connection with the TriMas Purchase Agreement were duly and validly authorized, and
when issued to each Shareholder in connection with the TriMas Purchase Agreement, were duly and
validly issued, fully paid and non-assessable and such shares are not subject to preemptive or
similar rights except as provided by this Agreement.

                    SECTION 2.05. No Post-Closing Breach. The Company represents and warrants that neither the
Company, nor to the best of the Company’s knowledge after due inquiry, Metaldyne, is in breach,
violation or default of any post-closing covenants contained in the TriMas Purchase Agreement other
than such breaches, violations or defaults which do not or would not reasonably be expected to
have, individually or in the aggregate, a Material Adverse Effect (as defined in the TriMasPurchase
Agreement) on the Company.

ARTICLE III

SHARE TRANSFERS

                    SECTION 3.01. Restrictions on Transfer. During the term of this Agreement, each Shareholder
agrees that it will not Transfer any Common Stock, except as permitted by or in accordance with
this Agreement.

 

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                    SECTION 3.02. Exceptions to Restrictions. Subject to all applicable laws, the restrictions
on Transfer set forth in Section 3.01 hereof shall not apply to any of the following:

          (a) a Transfer by a Shareholder of Common Stock to one of its Permitted
Transferees; provided that such Permitted Transferee shall agree to execute a
Joinder Agreement in the form annexed hereto as Exhibit A (the “Joinder
Agreement”);

          (b) a Transfer of Common Stock by a Shareholder in accordance with Sections
4.02 and 4.03 of this Agreement;

          (c) a Transfer by a Shareholder after such Shareholder has complied with
Section 4.01; provided that the Transferee shall agree to execute a Joinder
Agreement;

          (d) a Transfer of Common Stock by a Shareholder pursuant to an effective
registration statement under the 1933 Act or a Transfer pursuant to Rule 144
under the 1933 Act; and

          (e) a Transfer by MCLLC in connection with the issuance of a Convertible
Security as contemplated by Section 6.16; provided that the recipient of such
Convertible Security agrees to execute a Joinder Agreement as described in
Section 6.16.

                    SECTION 3.03. Improper Transfer. Any attempt to Transfer any shares of Common Stock not in
accordance with this Agreement shall be null and void and the Company will not give nor permit the
Company’s transfer agent to give any effect to such attempted Transfer in its stock records.

                    SECTION 3.04. Restrictive Legend. Each certificate representing shares of Common Stock and
held by a Shareholder will bear a legend substantially similar to the following (with such
additions thereto or changes therein as the Company may be advised by counsel are required by law
or necessary to give full effect to this Agreement):

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE OFFERED OR SOLD
EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE UNITED
STATES SECURITIES ACT OF 1933 OR (ii) AN APPLICABLE EXEMPTION FROM REGISTRATION
THEREUNDER. ANY SALE PURSUANT TO CLAUSE (ii) OF THE PRECEDING SENTENCE MUST BE
ACCOMPANIED BY AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY TO
THE EFFECT THAT SUCH EXEMPTION FROM REGISTRATION IS AVAILABLE IN CONNECTION WITH
SUCH SALE.

 

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THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE ALSO SUBJECT TO THE TERMS AND
CONDITIONS, INCLUDING WITH RESPECT TO THE DIRECT OR INDIRECT TRANSFER THEREOF,
OF A SHAREHOLDERS AGREEMENT DATED AS OF JUNE 6, 2002, AS AMENDED AND RESTATED AS
OF JULY 19, 2002. THE SHAREHOLDERS AGREEMENT CONTAINS, AMONG OTHER THINGS,
SIGNIFICANT RESTRICTIONS ON TRANSFER OF THE SECURITIES OF THE COMPANY. A COPY OF
THE SHAREHOLDERS AGREEMENT IS AVAILABLE UPON REQUEST FROM THE COMPANY.”

ARTICLE IV

RIGHTS OF CERTAIN SHAREHOLDERS

                    SECTION 4.01. Rights of First Offer. (a) At any time or from time to time prior to a
Qualifying Public Equity Offering, in the event that a Shareholder (other than Sponsor and its
Affiliates) desires to Transfer all or part of its Common Stock (such shares being the “Offered
Shares” and such proposed Shareholder transferor being the “Offeror”), other than pursuant to
Section 3.02(a), 3.02(d), 4.02 or 4.03 of this Agreement, such Shareholder shall give prompt
written notice (an “Investor’s Notice”) of its desire to sell the Offered Shares to the Company and
Sponsor. The Investor’s Notice shall identify (x) the number of Offered Shares and (y) all other
material terms and conditions of the proposed Transfer including the purchase price and the form of
the consideration.

                    (b) The Company shall have the right, but not the obligation, to purchase all, but not less
than all, the Offered Shares (the “First Option”) on the same terms and conditions as set forth in
the Investor’s Notice, which option shall be exercised by delivering to such Shareholder
irrevocable written notice of its commitment to purchase the Offered Shares within fifteen (15)
business days after receipt of the Investor’s Notice (the “Company Option Period”). Failure by the
Company to give such notice within such fifteen (15) business day period shall be deemed an
election by the Company not to purchase the Offered Shares.

                    (c) In the event that the Company decides not to purchase the Offered Shares pursuant to
Section 4.01(b), then Sponsor shall have the right, but not the obligation, to purchase all, but
not less than all, the Offered Shares (the “Second Option”) on the same terms and conditions as set
forth in the Investor’s Notice, which option shall be exercised by delivering to such Shareholder
irrevocable written notice of its commitment to purchase the Offered Shares within ten (10)
business days after the termination of the Company Option Period (the “Sponsor Option Period”);
provided that Sponsor may, at its sole option, but subject to following the procedures of the next
sentence (if applicable), assign its rights to purchase Offered Shares pursuant to this Section
4.01 to another Shareholder or a Permitted Transferee of

 

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Sponsor (such person an “Assignee”). If a proposed Assignee is a Shareholder (other than an
Affiliate of Sponsor) as of the date of the Investor’s Notice, then Sponsor shall offer each
Shareholder (other than the Offeror, but including the proposed Assignee) the right, but not the
obligation, to purchase not less than its percentage equivalent of a fraction, the numerator of
which is the number of such Shareholder’s shares of Common Stock and the denominator of which is
the aggregate number of all shares of Common Stock owned by Shareholders (other than the Offeror)
each as of the date of the Investor’s Notice, of the Offered Shares on the same terms and
conditions as set forth in the Investor’s Notice. Nothing shall preclude Sponsor from retaining its
relative share of the Offered Shares if it so elects. Failure by Sponsor or its Assignee to give
such notice within such ten (10) business day period shall be deemed an election by Sponsor or its
Assignee not to purchase the Offered Shares.

                    In the event that a Heartland Entity (other than the Company and its subsidiaries) acquires
shares of Common Stock (or the existing warrant therefor) from MCLLC (but not any transferee
thereof other than a Direct Permitted Transferee of MCLLC), it shall promptly give written notice
thereof to each Shareholder (other than MCLLC and its Direct Permitted Transferees) (each an
“Offeree” and collectively the “Offerees”), and each Offeree shall have the right, but not the
obligation, to purchase from such Heartland Entity not less than the percentage equivalent of a
fraction, the numerator of which is the number of shares of such Offeree’s Common Stock and the
denominator of which is the total number of shares of Common Stock owned by Offerees and the
Heartland Entities immediately before such Heartland Entity acquired such Common Stock (or the
existing Warrant therefor) from MCLLC or a Direct Permitted Transferee thereof, of such Common
Stock at the same price as paid by the applicable Heartland Entity. Nothing herein shall preclude
any Heartland Entity from retaining or receiving its relative share of the Common Stock (or the
existing warrant therefor) acquired from MCLLC or a Direct Permitted Transferee thereof. Each
Shareholder’s right to purchase Common Stock pursuant to this paragraph shall be for ten (10)
business days after the notice referred to earlier in this paragraph is given by such Heartland
Entity.

                    (d) Delivery of written notice by the Company, Sponsor or its Assignee accepting the First
Option or the Second Option, as the case may be, shall constitute a contract between the Company,
Sponsor or its Assignee, on the one hand, and such Shareholder on the other hand, for the purchase
and sale of the Offered Shares on the terms and conditions set forth in the Investor’s Notice. The
purchase of any Offered Shares pursuant to the exercise of the First Option or the Second Option,
as the case may be, shall be completed not later than forty-five (45) days following receipt of the
Investor’s Notice with respect to the Offered Shares, subject to receipt of any required material
third-party or governmental approvals, compliance with applicable laws and the absence of any
injunction or similar legal order preventing such transaction (collectively, the “Conditions”) in
which case the purchase of the Offered Shares shall be delayed pending the satisfaction of the
Conditions up to an additional thirty (30)
days. As a condition to entering into the contract referred to above, the Company,

 

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Sponsor and its Assignee will agree to use commercially reasonable efforts to satisfy the
Conditions as soon as possible. In the event that neither the First Option nor the Second Option is
exercised, the Shareholder shall have the right for a period of seventy-five (75) days after the
termination of the Sponsor Option Period to Transfer (the “Investor Sale”) the Offered Shares at a
price not less than ninety percent (90%) of the price contained in, and otherwise on terms and
conditions no less favorable to such Shareholder than those set forth in, the Investor’s Notice,
except that the purchase of the Offered Shares may be delayed up to an additional thirty (30) days
pending satisfaction of the Conditions; provided that the Transferee agrees to execute a Joinder
Agreement. If the Investor Sale is not consummated pursuant to the terms of the immediately
preceding sentence, the Shareholder will not effect Transfer of any of the Offered Shares without
commencing de novo the procedures set forth in this Section 4.01.

                    SECTION 4.02. Tag-Along Rights. (a) If, at any time or from time to time prior to a Qualifying
Public Equity Offering, Sponsor or any of its Affiliates (but not including Metaldyne or any of its
subsidiaries or the Company and any of its Subsidiaries) (the “Sponsor Transferor”) proposes to
Transfer any shares of Common Stock to a Person (the “Purchaser”), other than pursuant to Section
3.02(a), 3.02(d), 5.01 or 5.02 or in a circumstance where all of the shares owned by all the
Shareholders are being purchased pursuant to Section 4.03, the Sponsor Transferor shall give
written notice (a “Transfer Notice”) of such proposed Transfer to the Shareholders at least fifteen
(15) days prior to the consummation of such proposed Transfer, setting forth (A) the total number
of shares of Common Stock offered to be Transferred to Purchaser, (B) the consideration to be
received for such shares of Common Stock by the Sponsor Transferor, (C) the identity of the
Purchaser(s), (D) any other material terms and conditions of the proposed Transfer, (E) the
expected date of the proposed Transfer and (F) that each such Shareholder shall have the right (the
“Tag-Along Right”) to elect to sell up to its Pro Rata Portion of such shares of Common Stock to be
Transferred to Purchaser. If any portion of the consideration contained in the Transfer Notice
includes consideration other than cash, the Sponsor Transferor shall provide the Shareholders with
a summary of a valuation study, if any, that the Sponsor Transferor has prepared concerning such
consideration, but the Sponsor Transferor shall have no liability to any Shareholder with respect
to any such summary or study and no obligation to undertake any such valuation. Notwithstanding the
first sentence of this Section 4.02(a), MCLLC and each Shareholder will have a Tag-Along Right in
connection with Transfers of shares of Common Stock by the Sponsor Transferor to a Permitted
Transferee (other than an Affiliate of the Sponsor Transferor) when the Sponsor Transferor
Transfers shares of Common Stock to such Person at a price per share (as adjusted for Adjustments)
that is greater than the price per share (as adjusted for Adjustments) paid for such shares by the
Sponsor Transferor.

                    (b) Upon delivery of a Transfer Notice, each Shareholder has the option, but not the
obligation, to sell up to the Pro Rata Portion of its shares of Common Stock at the same price per
share of Common Stock and pursuant to the same terms and conditions with

 

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respect to payment for the shares of Common Stock as agreed to by the Sponsor Transferor, by
sending written notice to the Sponsor Transferor within ten (10) days of the date of the Transfer
Notice, indicating its election to sell up to the Pro Rata Portion of its shares of Common Stock in
the same transaction. To the extent that elections pursuant to this Section 4.02(b) are not made
with respect to any shares of Common Stock included in a Transfer Notice within such 10-day period,
then the Sponsor Transferor shall re-offer to Shareholders who have elected to sell their Pro Rata
Portion (the “Tag-Along Shareholders”) for one additional three day period, the right to sell such
additional number of shares as will result in the Tag-Along Shareholders being able to sell their
pro rata share of such remaining shares of Common Stock, based upon all the shares of Common Stock
being sold by all the Tag Along Shareholders (not including the remaining shares). For a sixty (60)
day period following such ten (10) day period (which period may be extended an additional thirty
(30) days in order to satisfy the Conditions), each Tag-Along Shareholder shall be permitted to
sell to the Purchaser(s) on the terms and conditions set forth in the Transfer Notice that amount
of its shares of Common Stock as to which it has made its election and the Sponsor Transferor shall
be permitted to concurrently sell the balance of the shares of Common Stock that are the subject of
the Transfer Notice that are not sold by the Tag-Along Shareholders.

                    (c) The provisions of Sections 4.02(a) and (b) shall not apply to any Transfer or series of
Transfers by Sponsor of shares of Common Stock to one or more Persons other than Permitted
Transferees (x) which are effected in order to comply with the preemptive rights provisions of
Section 4.05 of the Metaldyne Shareholders Agreement with respect to Sponsor’s investment in the
Company pursuant to the TriMas Purchase Agreement or (y) which are effected within one year of the
date hereof at a price per share of not greater than $20.00 per share (as adjusted for
Adjustments); provided that, after giving effect to any such Transfer referred to in this clause
(y), Sponsor would own, together with its Affiliates (not including Metaldyne and its
subsidiaries), thirty percent (30%) or more of the outstanding shares of Common Stock.

                    (d) Each Tag-Along Shareholder shall not be required to make representations and warranties in
connection with such sale other than customary representations and warranties with respect to (i)
such Shareholder’s due organization, power and authority, (ii) such Shareholder’s ownership of the
shares of Common Stock and ability to freely convey such shares of Common Stock without liens or
encumbrances, (iii) customary representations regarding non-contravention of such Shareholder’s
charter, bylaws or other organizational documents or material agreements of such Tag-Along
Shareholder and (iv) the enforceable nature of such Tag-Along
Shareholder’s obligations under the documents for such sale to which it is a party (collectively,
the “Shareholder Representations”). No Tag-Along Shareholder shall be liable in respect of any
indemnification provided in connection with a sale of Common Stock pursuant to this Section 4.02 (a
“Tag-Along Sale”), (with respect to such Shareholder’s Shareholder Representations) in excess of
the consideration received by such

 

-15-

Tag-Along Shareholder in such Tag-Along Sale and no Tag-Along Shareholder shall be required to
participate in any escrow relating to such Tag-Along Sale in excess of such Tag-Along Shareholder’s
participation in the Tag-Along Sale.

                    (e) In the event that no Shareholder elects to sell shares of Common Stock pursuant to this
Section 4.02, Sponsor and/or its Affiliates (as the case may be) shall have the right for a period
of seventy-five (75) days (which period may be extended by an additional thirty (30) days to
satisfy the Conditions) after the expiration of the 10-day period referred to in Section 4.02(b) to
Transfer the Shares subject to the Transfer Notice to the Purchaser at a price not greater than the
price contained in, and otherwise on terms and conditions no more favorable to Sponsor and/or such
Affiliates than those set forth in, the Transfer Notice; it being agreed that, after the end of the
75-day period referred to in this Section 4.02(e) (including any permitted extension thereof),
Sponsor and/or such Affiliates will not effect any transaction in any shares of Common Stock that
are the subject of the Transfer Notice without commencing de novo the procedures set forth in this
Section 4.02.

                    SECTION 4.03. Drag-Along Rights. If at any time prior to a Qualifying Public Equity Offering,
Sponsor and its Affiliates intend to effect a Substantial Change of Control, Sponsor shall have the
right to require the other Shareholders (the “Drag-Along Shareholders”) to sell the same percentage
of Common Stock held by them relative to such Shareholder’s ownership of Common Stock as Sponsor
and its Affiliates are selling in such transaction in connection with such Substantial Change of
Control; to vote such Common Stock, whether by proxy, voting agreement or otherwise in favor of the
transactions constituting a Substantial Change of Control; to waive their appraisal or dissenters’
rights with respect to such transaction; or otherwise participate in such Substantial Change of
Control and each other Shareholder agrees to take any and all reasonably necessary action in
furtherance of the foregoing; provided that (a) the consideration to be received by the other
Shareholders shall be for the same type and amount per share of consideration received by Sponsor,
and (b) after giving effect to such transaction, Sponsor and its Direct Permitted Transferees shall
have sold the same percentage of their holdings of Common Stock as sold by the Drag-Along
Shareholders; provided, however, that MCLLC and its Direct Permitted Transferees will not be
obligated to participate in such transaction if the consideration per share in such transaction is
less than $20.00 per share (as adjusted for Adjustments) of the Common Stock, and provided,
further, that if Sponsor and its Affiliates are selling all of their shares of Common Stock in
connection with such Substantial Change of Control, the Drag-
Along Shareholders will be required to sell all of their shares pursuant to this Section 4.03. In
connection with the sale of their shares of Common Stock pursuant to this Section 4.03, the
Drag-Along Shareholders shall not be required to make any representations and warranties other than
the Shareholder Representations. In addition, no Drag-Along Shareholder shall be liable in respect
of any indemnification in connection with a transaction effected pursuant to this Section 4.03 (a
“Drag-Along Transaction”) (with respect to such Shareholder’s Shareholder Representations) in

 

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excess of the consideration received by such Drag-Along Shareholder in such Drag-Along Transaction
and no such Drag-Along Shareholder shall be required to participate in any escrow relating to such
Drag-Along Transaction in excess of the amount of Common Stock such Drag-Along Shareholder is
required to sell pursuant to this Section 4.03.

                    SECTION 4.04. Information. (a) Prior to the occurrence of an Initial Public Offering, the
Company shall deliver to each Shareholder

          (1) as soon as available, but in any event within forty-five (45) days after the end
of each quarter, copies of

     (i) consolidated balance sheets of the Company and its subsidiaries as at
the end of such quarter, and

     (ii) consolidated statements of income, stockholders’ equity and cash flows
of the Company and its subsidiaries, for such quarter and for the portion of the
fiscal year ending with such quarter,

in each case prepared in accordance with GAAP applicable to periodic
financial statements generally, fairly presenting, in all material
respects, the financial position of the Persons being reported on and their
results of operations and cash flows, subject to changes resulting from
normal year-end adjustments;

          (2) as soon as available, but in any event within ninety (90) days after the end of
each fiscal year of the Company, copies of

     (i) consolidated balance sheets of the Company and its subsidiaries as at
the end of such year, and

     (ii) consolidated statements of income, stockholders’ equity and cash flows
of the Company and its subsidiaries for such year,

in each case prepared in accordance with GAAP, fairly presenting, in all material
respects, the financial position of the Persons being reported on and their results of
operations and cash flows, and accompanied by an opinion thereon of independent certified
public accountants of recognized national standing, which opinion shall state
that such financial statements present fairly, in all material respects, the financial position
of the Persons being reported upon and their results of operations and cash flows and have
been prepared in conformity with GAAP;

                    (b) In the case of any Shareholder (other than MCLLC) prior to the occurrence of a Qualifying
Public Equity Offering, and for so long as such Shareholder owns

 

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twenty-five percent (25%) or more of the number of shares of Common Stock (as adjusted for
Adjustments) owned by such Shareholder as of the date of the amendment and restatement hereof or in
the case of MCLLC, for so long as MCLLC retains a number of shares of Common Stock equal to at
least twenty-five percent (25%) of the number of shares of Common Stock (as adjusted for
Adjustments) owned by MCLLC immediately following the Transactions, the Company shall deliver to
each such Shareholder and MCLLC

          (1) the information and reports provided pursuant to Sections 4.04(a)(1) and (2);

          (2) monthly “flash reports” utilized by the Company in its own management containing
summarized, abbreviated data with respect to income statement amounts, balance sheet data
and cash flows to the extent available; and

          (3) such other information concerning the condition or operations, financial or
otherwise, of the Company and its subsidiaries as a Shareholder may, from time to time,
reasonably request.

                    (c) The rights to receive the information set forth in subsections (1) and (2) of paragraph
(a) shall be assignable to Transferees of Common Stock and Permitted Transferees that become
Shareholders. The rights to receive the information set forth in subsections (2) and (3) of
paragraph (b) shall be assignable to a Transferee that acquires from MCLLC at least fifty percent
(50%) of the shares of Common Stock owned by MCLLC as of the date hereof (as adjusted for
Adjustments).

                    (d) Prior to the occurrence of a Qualifying Public Equity Offering, and for so long as a
Shareholder owns twenty-five percent (25%) or more of the number of shares of Common Stock (as
adjusted for Adjustments) owned by such Shareholder on date of the amendment and restatement
hereof, Representatives of such Shareholder shall be provided with a reasonable opportunity to
discuss the business and affairs of the Company with the Company’s senior managers, directors,
officers and senior employees upon reasonable advance notice during normal business hours; provided
that such Company representatives shall be available to such Shareholder for an annual meeting with
senior management at which the following year’s budget is presented and to MCLLC for quarterly
meetings at which the most recent quarterly results are discussed.

                    (e) Each Shareholder hereby agrees that neither it nor its Representatives will disclose to
any third party any information provided to it or its Representatives by the Company hereunder which is not generally
available to the public, except with the prior express approval of the Company or as may be
required by applicable law; it being understood that nothing in this Section 4.04(f) will restrict
the ability of a Shareholder to disclose certain

 

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information to its investors in accordance with its governing documents; provided that such
investors agree to be bound by the confidentiality provisions of this Agreement.

                    (f) Notwithstanding the above, access to highly confidential proprietary information and
facilities need not be provided by the Company, nor shall the Company be required to provide
information to any Shareholder that is a competitor or reasonably likely to become a competitor of
the Company or any of its subsidiaries; it being understood that the Shareholders and parties to
the Metaldyne Shareholder’s Agreement existing as of the date hereof are not competitors.

                    SECTION 4.05. Preemptive Rights. (a) Prior to the occurrence of an Initial Public Offering,
the Company hereby grants and hereby agrees to cause each Significant Subsidiary of the Company to
grant to each Shareholder the right to purchase up to such Shareholder’s Proportionate Percentage
(as hereinafter defined) of any future Eligible Offering (as hereinafter defined). For purposes of
this Section 4.05, the following terms shall have the meanings set forth below.

          “Proportionate Percentage” means, with respect to any
Shareholder as of any given date with respect to an Eligible Offering, the number
(expressed as a percentage) obtained by dividing (A) the number of shares of Common Stock
owned by such Shareholder as of such date by (B) the total number of shares of Common
Stock held by all Shareholders.

          “Eligible Offering” means an offer by the Company or a Significant Subsidiary of the
Company to sell to any Person or Persons for cash, any Capital Stock of the Company or a
Significant Subsidiary, other than an offering by the Company or a Significant Subsidiary
of the Company:

          (i) of Common Stock in an underwritten public offering (a “Public Offering”)
registered under the 1933 Act or pursuant to a Rule 144A offering under the 1933
Act;

          (ii) of Common Stock issued upon the exercise of options, warrants or
convertible securities outstanding as of the date hereof;

          (iii) of Common Stock or options to purchase shares of Common Stock in
connection with or pursuant to any stock option, stock purchase plan or agreement
or other benefit plans approved by the Board of Directors of the Company to
full-time employees, officers, directors, consultants and/or advisors
to the Company or its subsidiaries (excluding employees of Sponsor);

 

-19-

          (iv) of Common Stock issued in connection with restricted stock
awards;

          (v) of Capital Stock of the Company issued as consideration to any
seller in connection with the acquisition by the Company or any subsidiary
of the Company of the assets of any Person in any transaction approved by
the Board of Directors of the Company;

          (vi) of Capital Stock of the Company issued as an inducement in
connection with any debt financing of the Company, subject to terms and
conditions approved by the Board of Directors of the Company;

          (vii) of Capital Stock of a Significant Subsidiary of the Company in
connection with any sale of control of such Significant Subsidiary to, or
any joint venture between such Significant Subsidiary and a third party
that is not a financial sponsor or investor, which sale or joint venture is
approved by the Board of the Directors of the Company; and

          (viii) of director qualifying or similar shares of a Significant Subsidiary.

                    For purposes of this Section 4.05 only, “Capital Stock” means any and all shares of common
stock or options, warrants or similar instruments or any other securities convertible or
exchangeable or exercisable therefor (collectively, “Equity Interests”) or any equity security
linked to or offered or sold in connection with any Equity Interests of such Person or any of its
Significant Subsidiaries, as the case may be.

                    (b) The Company shall, before any securities are issued pursuant to an Eligible Offering, give
written notice (a “Preemptive Notice”) thereof to each Shareholder that is entitled to preemptive
rights hereunder. Such notice shall specify the security or securities proposed to be issued, the
proposed date of issuance, the consideration that the Company or such Significant Subsidiary
intends to receive therefor and all other material terms and conditions of such proposed issuance.
For a period of ten (10) days following the date of such notice, each such Shareholder shall be
entitled, by written notice to the Company, to elect to purchase all or part of such Shareholder’s
Proportionate Percentage of the securities being sold in the Eligible Offering. To the extent that
elections pursuant to this Section 4.05(b) shall not be made with respect to any shares of Capital
Stock included in a Preemptive Notice within such 10-day period, then the Company shall re-offer to
Shareholders who have elected to purchase their Proportionate Percentage (the “Preemptive
Shareholders”) for one additional three-day period, the right to purchase any part of the shares of
Capital Stock not purchased by other Shareholders (the
“Section 4.05 Remaining Shares”) pursuant to this Section 4.05 which is equal to the product
obtained by multiplying (i) the number of Section 4.05 Remaining Shares

 

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by (ii) a fraction, the numerator of which is the number of shares of
Common Stock then owned by any such Preemptive Shareholder and the denominator
of which is the aggregate number of shares owned by all Preemptive Shareholders.
To the extent that elections pursuant to this Section 4.05(b) shall not be made
with respect to any securities included in an Eligible Offering within such ten
(10) day period, then the Company or such Significant Subsidiary, as the case
may be, shall not be obligated to issue to such Shareholder such securities for
which such Shareholder has elected not to purchase. To the extent that there are
securities that have not been purchased pursuant to this Section 4.05, then the
Company or such Significant Subsidiary, as the case may be, may issue such
securities, but only for consideration not less than, and otherwise on no less
favorable terms to the Company or such Significant Subsidiary, as the case may
be, than, those set forth in the Preemptive Notice and only within thirty (30)
days after the end of such ten (10) day period. In the event that any such offer
is accepted by any such Shareholder or Shareholders, the Company or such
Significant Subsidiary, as the case may be, shall sell to such Shareholder or
Shareholders, and such Shareholder or Shareholders shall purchase from the
Company or such Significant Subsidiary, as the case may be, for the
consideration and on the terms set forth in the notice as aforesaid, the
securities that such Shareholder or Shareholders shall have elected to purchase
within ten (10) days of such Shareholder’s election to purchase such
Proportionate Percentage (subject to delay for an additional thirty days for
satisfaction of the Conditions).

                    (c) The Company may comply with any applicable securities laws before
issuing any shares of Capital Stock pursuant to this Section 4.05 and shall not
be in violation of the provisions hereof by reason of such compliance; provided
it is using commercially reasonable efforts to so comply.

                    SECTION 4.06. Board of Directors. (a) At each annual or special
stockholders meeting called for the election of directors, and whenever the
Shareholders of the Company act by written consent with respect to the election
of directors, each Shareholder agrees to vote or otherwise give such
Shareholder’s consent in respect of all shares of the Capital Stock of the
Company (whether now owned or hereafter acquired) owned by such Shareholder, and
take all other appropriate action and the Company shall take all necessary and
desirable actions within its control in order to cause:

          (i) an amendment to the Bylaws of the Company to provide that the
authorized number of directors on the Board of Directors of the Company shall be
as recommended by the Sponsor in its sole discretion; provided such number not
be less than the number of directors needed to satisfy MCLLC’s right to a
director under Section 4.06(a)(ii)(2) and CSFB Plan Partner’s right to a
director under Section 4.06(a)(ii)(3);

 

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          (ii) the election to the Board of Directors of

	 	(1)	 	such number of directors as shall constitute a majority of the Board of
Directors as designated by Heartland Industrial Partners, L.P.;
	 
	 	(2)	 	one director designated by MCLLC; provided that upon MCLLC and its
subsidiaries ceasing to own at least 20% of the outstanding shares of Common
Stock owned by MCLLC immediately following the Transactions (as adjusted for
Adjustments), MCLLC shall no longer have the right to designate one director to
the Board of Directors of the Company; and
	 
	 	(3)	 	one director designated by the CSFB Plan Partner (as defined in the
Metaldyne Shareholders Agreement) for so long as CSFB Plan Partner has the right
under the Metaldyne Shareholders Agreement to appoint a director to the Board of
Directors of Metaldyne; provided, that upon MCLLC and its subsidiaries ceasing
to own at least 20% of the outstanding shares of Common Stock owned by MCLLC
immediately following the Transactions (as adjusted for Adjustments), CSFB Plan
Partner shall no longer have the right to designate one director to the Board of
Directors of the Company;

all of which persons shall hold office subject to their earlier removal in
accordance with clause (iii) below, the Bylaws of the Company and applicable
corporate law, until their respective successors shall have been elected and
shall have qualified;

          (iii) the removal from the Board of Directors (with or without cause) of
any director elected in accordance with clause (ii) above upon the written
request of the Shareholders that designated such director; and

          (iv) upon any vacancy in the Board of Directors as a result of any
individual designated as provided in clause (ii) above ceasing to be a member of
the Board of Directors whether by resignation or otherwise, the election to the
Board of Directors as promptly as possible of an individual designated by the
Shareholders that designated such individual; provided that MCLLC and CSFB Plan
Partner will consult with Sponsor prior to designating a replacement.

                    (b) The parties hereto agree to cause the Company’s Board of Directors to
appoint at least one MCLLC Director to each decision-making committee of the
Board and to cause at least one MCLLC Director to be nominated to the board of
each subsidiary of the

 

-22-

Company to the extent the composition of such boards is substantially
identical to the composition of the Company’s Board of Directors.

                    (c) The Company agrees to provide customary directors’ liability insurance.

                    (d) For so long as MCLLC owns at least 20% of the shares of Common Stock
owned by MCLLC immediately following the Transactions (as adjusted for
Adjustments), the Company shall not (a) make any material amendments or changes
to its certificate of incorporation or bylaws without MCLLC’s prior written
consent (which consent shall not be unreasonably withheld) or (b) liquidate,
dissolve or wind-up its affairs without MCLLC’s prior written consent (which
consent shall not be unreasonably withheld).

                    SECTION 4.07. Transaction with Affiliates. Without the consent of
Shareholders (other than Sponsor and its Affiliates) owning a majority of the
shares of Common Stock held by such Persons, for so long as Sponsor directly or
indirectly beneficially owns thirty-five percent (35%) or more of the
outstanding shares of Common Stock, the Company and its subsidiaries will not
enter into, or suffer to exist, any transaction with Sponsor or any of its
Affiliates (excluding Metaldyne and its subsidiaries) involving payments or
other consideration in excess of $1.0 million. The foregoing restrictions will
not apply to (a) the payment of annual monitoring fees to Sponsor in an amount
not to exceed $4.0 million plus reimbursement of out-of-pocket expenses incurred
by Sponsor in connection with the advisory services provided to the Company for
the first year after the date hereof; (b) the payment to Sponsor of advisory
fees and out-of-pocket expense reimbursement in connection with an acquisition,
divestiture or financing by the Company or any of its subsidiaries (but
excluding sales and purchases of personal property in the ordinary course of
business) provided that such fees shall be in an amount equal to 1% of the
aggregate value of such transaction; (c) fees payable to Sponsor in connection
with the Transactions and reimbursement of out-of-pocket expenses incurred by
Sponsor in connection with the Transactions; (d) transactions involving the
sale, purchase or lease of goods or services in the ordinary course of business
and on an arm’s-length basis between or among the Company or any of its
subsidiaries and portfolio companies of Sponsor; (e) transactions between or
among the Company or any of its subsidiaries; (f) issuances of Capital Stock to
Sponsor and its Affiliates pursuant to, and in compliance with, Section 4.05;
(g) transactions approved by the disinterested members of the Board of Directors
of the Company (it being understood that a disinterested board member is one who
does not have a direct or indirect material interest in the transaction to be
voted on); (h) transactions pursuant to or contemplated by the TriMas Purchase
Agreement; and (i) any transaction as to which the Company has received an
opinion from an independent investment banking or other qualified firm that the
transaction is fair to the Company from a financial point of view; provided that
such firm shall be selected by the chief executive officer of MCLLC.
Notwithstanding the foregoing, the benefits of this Section 4.07 shall terminate

 

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upon MCLLC and its subsidiaries ceasing to own at least 20% of the shares
of Common Stock owned by MCLLC immediately following the Transactions (as
adjusted for Adjustments).

ARTICLE V

REGISTRATION RIGHTS

                    SECTION
5.01. Company Registration.

                    (a) Right to Piggyback on Registration of Stock. Subject to Section
5.01(c), if at any time or from time to time the Company proposes to register
the Common Stock under the 1933 Act in connection with a public offering of such
Common Stock on any form other than Form S-4 or Form S-8 or any similar
successor forms or another form used for a purpose similar to the intended use
for such forms (a “Piggyback Registration”), whether for its own account or for
the account of one or more shareholders of the Company, the Company shall each
such time promptly give each Shareholder written notice of such determination;
provided, however, that such notice of a Piggyback Registration shall be given
at least ten (10) business days prior to the earlier of the anticipated
effective date of such Piggyback Registration or (y) the commencement of formal
selling efforts by any underwriter in the case of an underwritten offering. Upon
the written request of any Shareholder (the “Piggyback Holder”) given within
eight (8) business days after the providing of any such notice by the Company,
the Company shall use its best efforts to cause to be registered under the 1933
Act all of the Registrable Securities held by such Shareholder that the
Shareholder has requested to be registered; provided, however, that if, at any
time after giving written notice of its intention to register any securities and
prior to the effective date of the registration statement filed in connection
with such registration, the Company shall determine for any reason not to
register or to delay registration of such securities, the Company may, at its
election, give written notice of such determination to each Piggyback Holder and
(i) in the case of a determination not to register, shall be relieved of its
obligation to register any Registrable Securities in connection with such
registration (but not from any obligation of the Company to pay the registration
expenses in connection therewith); and (ii) in the case of a determination to
delay registering, shall be permitted to delay registering any Registrable
Securities for the same period as the delay in registering such other
securities. No registration effected under this Section 5.01 shall relieve the
Company of its obligation to effect any registration upon demand under Section
5.02. The registration rights contained in Section 5.01 may be assigned to any
Transferee or Permitted Transferee.

                    (b) Selection of Underwriters. If any Piggyback Registration involves an
underwritten offering, the Company shall have sole discretion in the selection
of any underwriter or underwriters to manage such Piggyback Registration.

 

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                    (c) Priority on Piggyback Registrations. In the event that the Piggyback
Registration includes an underwritten offering, the Company shall so advise the
Shareholders as part of the written notice given pursuant to Section 5.01(a) and
the registration rights provided in Section 5.01(a) shall be subject to the
condition that if the managing underwriter or underwriters of a Piggyback
Registration advise the Company in writing (a copy of which shall be provided to
the applicable Shareholders) that in its opinion the number of Registrable
Securities proposed to be sold in such Piggyback Registration exceeds the number
which can be sold, and would materially adversely affect the price at which the
Registrable Securities are to be sold, in such offering, the Company (or the
Shareholders, as the case may be) will include in such registration only the
number of Registrable Securities which, in the opinion of such underwriter or
underwriters can be sold in such offering without such material adverse effect.
The Registrable Securities so included in such Piggyback Registration shall be
apportioned (i) first, either (x) subject to the rights of MCLLC set forth in
the proviso to this Section 5.01(c), in a case including a primary registration
on behalf of the Company, to any shares of Common Stock that the Company
proposes to sell, or (y) in the case of a secondary registration on behalf of
any person exercising demand registration rights, pro rata among the Holders on
the basis of the number of shares of Common Stock to be registered pursuant to
such demand registration (except to the extent otherwise provided in Section
5.02), (ii) second, shares held by MCLLC (in the event MCLLC ceases to be a
Holder), (iii) third, pro rata among the Shareholders (other than MCLLC), if
any, not included under clause (i) and (iv) fourth, pro rata among other shares
included in such Piggyback Registration, in each case according to the total
number of shares of the Common Stock requested for inclusion by said selling
stockholders, or in such other proportions as shall mutually be agreed to among
such selling stockholders; provided, however that, in the event of any primary
registration on behalf of the Company, 50% of the Registrable Securities to be
apportioned to the Piggyback Holders shall be apportioned to MCLLC to the extent
MCLLC is a Piggyback Holder.

                    SECTION
5.02.Demand Registration Rights.

                    (a) Right to Demand. At any time after a Triggering Event, the Demand
Holders may, individually or collectively, (x) make a written request, which
request will specify the aggregate number of Registrable Securities to be
registered and will also specify the intended methods of disposition thereof
(the “Request Notice”) to the Company for registration with the Commission under
and in accordance with the provisions of the 1933 Act of all or part of the
Registrable Securities then owned by Demand Holders (a “Secondary Demand
Registration”) or (y) make a written request, requesting that the Company
register shares of Common Stock on a primary basis and consummate an Initial
Public Offering (the “IPO Primary Demand” and together with the Secondary Demand
Registration, a “Demand Registration”); provided that the Company may, if its
Board of Directors so determines in the exercise of its reasonable, good faith
judgment that due to a pending or contemplated acquisition or disposition or
public offering or other material event involving the Company it would be in-

 

-25-

advisable to effect such Demand Registration at such time, the Company may,
upon providing the Demand Holders written notice (the “Delay Notice”), defer,
postpone or suspend such Demand Registration for a single period with respect to
such Demand Registration not to exceed one hundred thirty-five (135) days. Upon
receipt by the Company of a request (a “Demand Request”) to effect a Demand
Registration the Company will within 10 business days after the receipt of such
notice, notify each other Demand Holder of such request and such other Demand
Holder(s) shall have the option to include its Registrable Securities in such
Demand Registration pursuant to this Section 5.02. Subject to Section 5.02(g),
the Company will register all other Registrable Securities which the Company has
been requested to register by such other Demand Holders which still have the
right to make a Request Notice pursuant to Section 5.02 hereof (each an
“Incidental Demand Holder”) pursuant to this Section 5.02 by written request
given to the Company by such holders within eight (8) business days after the
giving of such written notice by the Company to such other Demand Holders. The
Company shall not be obligated to maintain a registration statement pursuant to
a Demand Registration effective for more than (x) ninety (90) days or (y) such
shorter period when all of the Registrable Securities covered by such
registration statement have been sold pursuant thereto (the “Effectiveness
Period”). Notwithstanding the foregoing, the Company shall not be obligated to
effect more than one Demand Registration in any 180-day period. Upon any such
request for a Demand Registration, the Company will deliver any notices required
by Section 5.01 and 5.02 and thereupon the Company will, subject to Section
5.01(c) and 5.02(f) hereof use its best efforts to effect the prompt
registration under the 1933 Act of;

          (i) the Registrable Securities which the Company has been so requested to
register by Demand Holders as contained in the Request Notice, and

          (ii) all other Registrable Securities which the Company has been requested
to register by the Piggyback Holders and Incidental Demand Holders,

all to the extent required to permit the disposition of the Registrable
Securities so to be registered in accordance with the intended method or methods
of disposition of each seller of such Registrable Securities.

                    (b) Demand Conditions. Notwithstanding anything herein to the contrary, a
Demand Holder will not be permitted to deliver a Request Notice prior to a
Qualifying Public Equity Offering unless the Request Notice relates to an
underwritten public offering. Such Demand Holder and the Company shall consult
with one another and a nationally recognized investment banking firm selected by
the Company to determine whether or not the most probable price to public for an
initial public offering of Common Stock would be a per share price (the “Target
Price”) that is in excess of $20.00 per share (as adjusted by the Adjustments).
The Company shall not be obligated to proceed if the price to public is expected
to be or is

 

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less than the Target Price. All of the requirements referred to herein for
a Request Notice prior to a Qualifying Public Equity Offering are referred to as
the “Demand Conditions”.

                    (c) Number of Demand Registrations. The Company shall not be required to
prepare and file a registration statement pursuant to this Section 5.02 if the
Request Notice relates to shares of Common Stock held by such Demand Holder
having a value of less than $40,000,000. In addition, the Company will not be
required to effect more than three registrations pursuant to this Section 5.02
on behalf of MCLLC and its Direct Permitted Transferees provided, that MCLLC
shall be afforded an additional Demand Registration if it has made an IPO
Primary Demand. Sponsor and its Affiliates will be entitled to an unlimited
number of Demand Registrations. It is hereby acknowledged and agreed by the
parties that any Registrable Securities included in a registration statement on
behalf of an Incidental Demand Holder will not count as a Demand Registration
for such Incidental Demand Holder. In connection with a Demand Registration by
more than one Demand Holder or by a Demand Holder and Incidental Demand Holders,
such Demand Holders and Incidental Demand Holders shall elect one such Holder to
act as representative (the “DH Representative”) in connection with such Demand
Registration and the Company shall only be obligated to communicate with such DH
Representative in connection with such Demand Registration. The Holders shall
give the DH Representative any and all necessary powers of attorneys needed for
the DH Representative to act on their behalf.

                    (d) Revocation. Holders of a majority in number of the Registrable
Securities to be included in a registration statement pursuant to this Section
5.02 may, at any time prior to the effective date of the registration statement
relating to such Demand Registration, acting through their DH Representative
revoke such request by providing a written notice thereof to the Company. The
Holders of Registrable Securities who revoke such request shall reimburse the
Company for all its expenses incurred in the preparation, filing and processing
of the registration statement. If pursuant to the terms of this Section 5.02(d),
the Holders reimburse the Company for its reasonable expenses incurred in the
preparation, filing and processing of any registration statement requested and
subsequently revoked by such Holders, the attempted registration by such
requested and subsequently revoked registration statement shall not be deemed to
be a Demand Registration. Notwithstanding the foregoing, the Holders of a
majority in number of the Registrable Securities to be included in a
registration statement pursuant to this Section 5.02 may, at any time within
five days after receipt of any Delay Notice acting through their DH
Representative revoke such request by providing written notice thereof to the
Company and the attempted Demand Registration shall not be deemed to be a Demand
Registration, notwithstanding that such Holders shall not reimburse the Company
for any expenses incurred in the preparation, filing and processing of any
Registration Statement.

                    (e) Effective Registration. A registration will not count as a Demand
Registration (i) if a Demand Holder determines in its good faith judgment to
withdraw the pro-

 

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posed registration of any Registrable Securities requested to be registered
by such Demand Holder (x) due to marketing or regulatory reasons subject to such
Holder reimbursing the Company for its expenses in accordance with Section
5.02(d) above, or (y) due to a material adverse change in the Company (other
than as a result of any action by such Demand Holder); (ii) if such registration
is interfered with by any stop order, injunction or other order or requirement
of the Commission or other governmental agency or court for any reason (other
than as a result of any action by the Holder) and the Company fails to promptly
have such stop order, injunction or other order or requirement removed,
withdrawn or resolved to the Holder’s satisfaction; or (iii) the conditions to
closing specified in the underwriting agreement or purchase agreement entered
into in connection with the registration relating to any such demand are not
satisfied (other than as a result of a default or breach thereunder by the
relevant Holder).

                    (f) Selection of Underwriters. If any of the Registrable Securities covered
by a Demand Registration are to be sold in an underwritten offering, the Company
will have the right to select the managing underwriter(s) to administer the
offering.

                    (g) Priority on Demand Registrations. If the managing underwriter or
underwriters of a Secondary Demand Registration advise the Company in writing
that in its or their opinion the number of Registrable Securities proposed to be
sold in such Secondary Demand Registration exceeds the number which can be sold,
or adversely affects the price at which the Registrable Securities are to be
sold, in such offering (the “Underwriter Cutback”), the Company will include in
such registration only the number of Registrable Securities which, in the
opinion of such underwriter or underwriters, can be sold in such offering
without such material adverse effect. To the extent such Secondary Demand
Registration includes Registrable Securities of more than one Holder, the
Registrable Securities so included in such Secondary Demand Registration shall
be apportioned (i) first, pro rata among the Demand Holders and any Incidental
Demand Holders based upon the number of shares of Common Stock owned by each
such Holder at the date of determination and (ii) second, pro rata among other
shares of Common Stock included in such Secondary Demand Registration; provided,
however that after an Initial Public Offering if MCLLC is a Demand Holder with
respect to such Secondary Demand Registration, then MCLLC will be able to
include in such registration in priority (such priority, the “MCLLC Priority”)
to all Shareholders as many Registrable Securities as possible subject to the
Underwriter Cutback.

                    (h) Assignability of Demand Registration Rights. The rights offered a
Shareholder pursuant to Section 5.02 are only assignable to a Direct Permitted
Transferee.

                    (i) Company Preemption Right. Notwithstanding anything herein to the
contrary, if at any time a Holder shall request a Secondary Demand Registration,
the Company may elect at that time to effect an underwritten primary offering by
the Company (in which

 

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case the applicable demand will not count as a Demand Registration) if, in
the good faith judgment of the Company’s Board of Directors, it would be in the
best interests of the Company to access the public market to raise equity
capital in order to (i) finance an acquisition or investment or (ii) enhance the
Company’s capital structure, liquidity or financial position. If the Company
elects to effect a primary registration after receiving such a request for a
Secondary Demand Registration, the Company will give prompt written notice (and
in any event within 45 days after receiving such a request for a Demand
Registration) to all Holders of its intention to effect such a registration and
shall afford the Holders rights to Piggyback Registration in accordance with
Section 5.01 hereof.

                    SECTION 5.03. Registration Procedures. It shall be a condition precedent to
the obligations of the Company and any underwriter or underwriters to take any
action pursuant to this Article V that the Shareholders requesting inclusion in
any Piggyback Registration or Demand Registration (a “Registration”) shall
furnish to the Company such information regarding them, the Registrable
Securities held by them, the intended method of disposition of such Registrable
Securities, and such agreements regarding indemnification, disposition of such
securities and other matters referred to in this Article V as the Company shall
reasonably request and as shall be required in connection with the action to be
taken by the Company. With respect to any Registration which includes
Registrable Securities held by a Shareholder, the Company will, subject to
Sections 5.01 and 5.02 promptly:

          (a) Prepare and file with the Commission a registration statement on the
appropriate form prescribed by the Commission and use its best efforts to cause
such registration statement to become effective as soon as practicable
thereafter; provided that the Company shall not be obligated to maintain such
registration effective for a period longer than the Effectiveness Period;
provided further that before filing a registration statement or prospectus or
any amendments or supplements thereto, including documents incorporated by
reference after the initial filing of the registration statement, the Company
will furnish to the holders of the Registrable Securities covered by such
registration statement and the underwriter or underwriters, if any, copies of or
drafts of all such documents proposed to be filed, including documents
incorporated by reference in the Prospectus and, if required by such holders,
the exhibits incorporated by reference, at least three (3) business days prior
thereto, which documents will be subject to the reasonable review of such
holders and underwriters. Holders of Registrable Securities covered by such
registration statement will have the opportunity to object to any information
pertaining to such holders that is contained therein and the Company will make
the corrections reasonably requested by such holders with respect to such
information prior to filing any registration statement or amendment thereto or
any prospectus or any supplement thereto; provided, however, that the Company
will not file any registration statement or amendment thereto or any prospectus
or any supplement thereto or any documents required to be incorporated by
reference therein to

 

-29-

which holders of a majority of the Registrable Securities covered by such
registration statement or the underwriters, if any, shall reasonably object;

          (b) Prepare and file with the Commission such amendments and post-effective
amendments to such registration statement and any documents required to be
incorporated by reference therein as may be necessary to keep the registration
statement effective for a period of not less than the Effectiveness Period (but
not prior to the expiration of the time period referred to in Section 4(3) of
the 1933 Act and Rule 174 thereunder, if applicable); cause the prospectus to be
supplemented by any required prospectus supplement, and as so supplemented to be
filed pursuant to Rule 424 under the 1933 Act; and comply with the provisions of
the 1933 Act applicable to it with respect to the disposition of all Registrable
Securities covered by such registration statement during the applicable period
in accordance with the intended methods of disposition by the sellers thereof
set forth in such registration statement or supplement to the prospectus;

          (c) Furnish to such Shareholder, without charge, such number of conformed
copies of the registration statement and any post-effective amendment thereto,
as such Shareholder may reasonably request, and such number of copies of the
prospectus (including each preliminary prospectus) and any amendments or
supplements thereto, and any documents incorporated by reference therein as the
Shareholder or underwriter or underwriters, if any, may request in order to
facilitate the disposition of the securities being sold by the Shareholder (it
being understood that the Company consents to the use of the prospectus and any
amendment or supplement thereto by the Shareholder covered by the registration
statement and the underwriter or underwriters, if any, in connection with the
offering and sale of the securities covered by the prospectus or any amendments
or supplements thereto);

          (d) Notify such Shareholder, at any time when a prospectus relating thereto
is required to be delivered under the 1933 Act, when the Company becomes aware
of the happening of any event as a result of which the prospectus included in
such registration statement (as then in effect) contains any untrue statement of
material fact or omits to state a material fact necessary to make the statements
therein (in the case of the prospectus or any preliminary prospectus, in light
of the circumstances under which they were made) not misleading and, as promptly
as practicable thereafter, prepare and file with the Commission and furnish a
supplement or amendment to such prospectus so that, as thereafter delivered to
the investors of such securities, such prospectus will not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements therein, in light of the circumstances under which they were
made, not misleading;

 

-30-

          (e) In the case of an underwritten offering, enter into such customary
agreements (including underwriting agreements in customary form) and make
members of senior management of the Company available on a basis reasonably
requested by the underwriters to participate in, “road show” and other customary
marketing activities (including one-on-one meetings with prospective purchasers
of the Registrable Securities) and cause to be delivered to the underwriters
reasonable opinions of counsel to the Company in customary form, covering such
matters as are customarily covered by opinions for an underwritten public
offering as the underwriters may reasonably request and addressed to the
underwriters;

          (f) Make available, for inspection by any seller of Registrable Securities,
any underwriter participating in any disposition pursuant to a registration
statement, and any attorney, accountant or other agent retained by any such
seller or underwriter, all financial and other records, pertinent corporate
documents and properties of the Company, and cause the Company’s officers,
directors, employees and independent accountants to supply all information
reasonably requested by any such seller, underwriter, attorney, accountant or
agent that are necessary to be reviewed by such person in connection with the
preparation of such registration statement;

          (g) If requested, cause to be delivered, immediately prior to the
effectiveness of the registration statement (and, in the case of an underwritten
offering, at the time of delivery of any Registrable Securities sold pursuant
thereto), letters from the Company’s independent certified public accountants
addressed to each selling Shareholder (unless such selling Shareholder does not
provide to such accountants the appropriate representation letter required by
rules governing the accounting profession) and each underwriter, if any, stating
that such accountants are independent public accountants within the meaning of
the 1933 Act and the applicable rules and regulations adopted by the Commission
thereunder, and otherwise in customary form and covering such financial and
accounting matters as are customarily covered by letters of the independent
certified public accountants delivered in connection with primary or secondary
underwritten public offerings, as the case may be;

          (h) Provide a transfer agent and registrar for all such Registrable
Securities not later than the effective date of the registration statement;

          (i) Use its best efforts to cause all securities included in such
registration statement to be listed, by the date of the first sale of securities
pursuant to such registration statement, on any national securities exchange,
quotation system or other market on which the Common Stock is then listed or
proposed to be listed by the Company, if any;

 

-31-

          (j) Make generally available to its security holders an earnings statement,
which need not be audited, satisfying the provisions of Section 11(a) of the
1933 Act as soon as reasonably practicable after the end of the twelve
(12)-month period beginning with the first month of the Company’s first fiscal
quarter commencing after the effective date of the registration statement, which
statement shall cover said twelve (12)-month period;

          (k) After the filing of a registration statement, (i) promptly notify each
Shareholder holding Registrable Securities covered by such registration
statement of any stop order issued or, to the Company’s knowledge, threatened by
the Commission and of the receipt by the Company of any notification with
respect to the suspension of the qualification of any Registrable Securities for
sale under the applicable securities or blue sky laws of any jurisdiction and
(ii) take all reasonable actions to obtain the withdrawal of any order
suspending the effectiveness of the registration statement or the qualification
of any Registrable Securities at the earliest possible moment; (l) Subject to
the time limitations specified in paragraph (b) above, if requested by the
managing underwriter or underwriters or such Shareholder, promptly incorporate
in a prospectus supplement or post-effective amendment such information as the
managing underwriter or underwriters or the Shareholder reasonably requests to
be included therein, including, without limitation, with respect to the number
of shares being sold by the Shareholder to such underwriter or underwriters, the
purchase price being paid therefor by such underwriter or underwriters and with
respect to any term of the underwritten offering of the securities to be sold in
such offering; and make all required filings of such prospectus supplement or
post-effective amendment as soon as practicable after being notified of the
matters to be incorporated in such prospectus supplement or post-effective
amendment;

          (l)
Subject to the time limitations specified in paragraph (b)
above, if requested by the managing underwriter or underwriters or
such Shareholder, promptly incorporate in a prospectus supplement or
post-effective amendment such information as the managing underwriter
or underwriters or the Shareholder reasonably requests to be included
therein, including, without limitation, with respect to the number of
shares being sold by the Shareholder to such underwriter or
underwriters, the purchase price being paid therefor by such
underwriter or underwriters and with respect to any term of the
underwritten offering of the securities to be sold in such offering;
and make all required filings of such prospectus supplement or
post-effective amendment as soon as practicable after being notified
of the matters to be incorporated in such prospectus supplement or
post-effective amendment;

          (m) As promptly as practicable after filing with the Commission of any
document which is incorporated by reference into a registration statement,
deliver a copy of such document to such Shareholder;

          (n) On or prior to the date on which the registration statement is declared
effective, use its best efforts to register or qualify, and cooperate with such
Shareholder, the underwriter or underwriters, if any, and their counsel in
connection with the registration or qualification of, the securities covered by
the registration statement for offer and sale under the securities or blue sky
laws of each state and other jurisdiction of the United States as the
Shareholder or managing underwriter or underwriters, if any, requests in
writing, to use its best efforts to keep each such registration or qualification
effective, including through new filings, or amendments or renewals, during the
Effectiveness Period and do any and all other acts or things necessary or
advisable to

 

-32-

enable the disposition in all such jurisdictions of the Registrable
Securities covered by the applicable registration statement; provided that the
Company 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 in any such jurisdiction where it is
not then so subject;

          (o) Cooperate with such Shareholder and the managing underwriter or
underwriters, if any, to facilitate the timely preparation and delivery of
certificates (not bearing any restrictive legends) representing securities to be
sold under the registration statement, and enable such securities to be in such
denominations and registered in such names as the Shareholder or the managing
underwriter or underwriters, if any, may request, as applicable; and

          (p) Use its best efforts to cause the securities covered by the
registration statement to be registered with or approved by such other
governmental agencies, authorities or self-regulatory bodies within the United
States as may be necessary to enable the seller or sellers thereof or the
underwriter or underwriters, if any, to consummate the disposition of such
Registrable Securities.

                    At all times after an Initial Public Offering, the Company shall file all
reports required to be filed by it under the 1933 Act and the 1934 Act and the
rules and regulations adopted by the Commission thereunder, and take such
further action as any Shareholders may reasonably request, all to the extent
required to enable such Shareholders to be eligible to sell Registrable
Securities pursuant to Rule 144 of the 1933 Act (or any similar rule then in
effect).

                    The Shareholders, upon receipt of any notice from the Company of the
happening of any event of the kind described in subsection (d) of this Section
5.03, will forthwith discontinue disposition of the securities until the
Shareholders’ receipt of the copies of the supplemented or amended prospectus
contemplated by subsection (d) of this Section 5.03 or until it is advised in
writing (the “Advice”) by the Company that the use of the prospectus may be
resumed, and has received copies of any additional or supplemental filings which
are incorporated by reference in the prospectus, and, if so directed by the
Company, each Shareholder will, or will request the managing underwriter or
underwriters, if any, to, deliver, to the Company (at the Company’s expense) all
copies, other than permanent file copies then in such Shareholder’s possession,
of the prospectus covering such securities current at the time of receipt of
such notice. In the event the Company shall give any such notice, the time
periods mentioned in subsections (a), (b) and (n) of this Section 5.03 shall be
extended by the number of days during the period from and including any date of
the giving of such notice to and including the date when each seller of
securities covered by such registration statement shall

 

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have received the copies of the supplemented or amended prospectus
contemplated by subsection (d) of this Section 5.03 hereof or the Advice.

                    SECTION 5.04. Registration Expenses. (a) Subject to Section 5.02(d), in the
case of any Registration, the Company shall bear all expenses incident to the
Company’s performance of or compliance with Sections 5.01, 5.02 and 5.03 of this
Agreement, including, without limitation, all Commission and stock exchange or
National Association of Securities Dealers, Inc. registration and filing fees
and expenses, fees and expenses of compliance with securities or blue sky laws
(including, without limitation, reasonable fees and disbursements of counsel in
connection with blue sky qualifications of the Registrable Securities), rating
agency fees, printing expenses, messenger, telephone and delivery expenses, fees
and disbursements of counsel for the Company and all independent certified
public accountants and any fees and disbursements of underwriters customarily
paid by issuers or sellers of securities (but not including any underwriting
discounts or commissions, or transfer taxes, if any, attributable to the sale of
Registrable Securities by a Piggyback Holder or Holder or fees and expenses of
more than one counsel representing the Shareholders selling Registrable
Securities under such Registration).

                    (b) In connection with each registration initiated hereunder (whether a
Demand Registration or a Piggyback Registration), the Company shall reimburse
the holders of Registrable Securities covered by such registration or sale for
the reasonable fees and disbursements of one law firm chosen by the holders of a
majority of the number of shares of Registrable Securities included in such
registration.

                    (c) The obligation of the Company to bear the expenses described in Section
5.04(a) and to reimburse the holders for the expenses described in Section
5.04(b) shall apply irrespective of whether a registration, once properly
demanded, if applicable, becomes effective, is withdrawn or suspended, or is
converted to another form of registration and irrespective of when any of the
foregoing shall occur; provided, however, that the expenses for any registration
statement withdrawn pursuant to 5.02(d) prior to its effectiveness at the
request of a Holder (unless withdrawn following and due to a Delay Notice), any
registration statement withdrawn solely at the request of a Holder, or any
supplements or amendments to a registration statement or prospectus resulting
from a misstatement furnished to the Company by a Holder, shall be borne by such
Holder.

                    SECTION
5.05.Indemnification.

                    (a) Indemnification by the Company. The Company agrees to indemnify and
hold harmless each Shareholder, its officers, directors, Affiliates and agents
and each Person who controls (within the meaning of the 1933 Act or the 1934
Act) the Shareholder, including, without limitation any general partner or
manager of any thereof, against all losses, claims, damages, liabilities and
expenses (including reasonable counsel fees and disburse-

 

-34-

ments) arising out of or based upon any untrue or alleged untrue statement
of a material fact contained in any registration statement, prospectus or
preliminary prospectus, or any amendment thereof or supplement thereto, in which
such Shareholder participates in an offering of Registrable Securities or in any
document incorporated by reference therein or any omission or alleged omission
to state therein a material fact required to be stated therein or necessary to
make the statements therein (in the case of the prospectus or any preliminary
prospectus, in light of the circumstances under which they were made) not
misleading, except insofar as the same are made in reliance on and in conformity
with any information with respect to such Shareholder furnished in writing to
the Company by such Shareholder expressly for use therein; provided, however,
that the foregoing indemnity agreement with respect to any preliminary
prospectus shall not inure to the benefit of any Shareholder from whom the
Person asserting such loss, claim, damage or liability purchased the securities
if it is determined that such loss, claim, damage or liability was caused by
such Shareholder’s failure to deliver to such Shareholder’s immediate purchaser
a current copy of the prospectus (if the current copy of the prospectus was
required by applicable law to be so delivered) after the Company has furnished
such Shareholder with a sufficient number of copies of such prospectus. The
Company will also indemnify underwriters (as such term is defined in the 1933
Act), their officers and directors and each Person who controls such
underwriters (within the meaning of the 1933 Act) to the same extent as provided
above with respect to the indemnification of the Shareholders.

                    (b) Indemnification by the Shareholders. In connection with any
registration statement in which a Shareholder is participating, each such
Shareholder will furnish to the Company in writing such information and
affidavits with respect to such Shareholder as the Company reasonably requests
for use in connection with any registration statement or prospectus covering the
Registrable Securities of such Shareholder and to the extent permitted by law
agrees to indemnify and hold harmless the Company, its directors, officers and
agents and each Person who controls (within the meaning of the 1933 Act or the
1934 Act) the Company, against any losses, claims, damages, liabilities and
expenses arising out of or based upon any untrue statement of a material fact or
any omission to state a material fact required to be stated therein or necessary
to make the statements in the registration statement or prospectus or
preliminary prospectus (in the case of the prospectus or preliminary prospectus,
in light of the circumstances under which they were made) not misleading, to the
extent, but only to the extent, that such untrue statement or omission is made
in reliance on and in conformity with the information or affidavit with respect
to such Shareholder so furnished in writing by such Shareholder expressly for
use in the registration statement or prospectus; provided, however, that the
obligation to indemnify shall be several, not joint and several, among such
Shareholders and the liability of each such Shareholder shall be in proportion
to and limited to the net amount received by such Shareholder from the sale of
Registrable Securities pursuant to such registration statement in accordance
with the terms of this Agreement. The indemnity agreement contained in this
Section 5.05 shall not apply to amounts paid in settlement of any such

 

-35-

loss, claim, damage, liability, action or proceeding if such settlement is
effected without the consent of such Shareholder (which consent shall not be
unreasonably withheld or delayed). The Company and the holders of the
Registrable Securities hereby acknowledge and agree that, unless otherwise
expressly agreed to in writing by such holders, the only information furnished
or to be furnished to the Company for use in any registration statement or
prospectus relating to the Registrable Securities or in any amendment,
supplement or preliminary materials associated therewith are statements
specifically relating to (a) transactions or the relationship between such
holder and its Affiliates, on the one hand, and the Company, on the other hand,
(b) the beneficial ownership of shares of Common Stock by such holder and its
Affiliates, (c) the name and address of such holder and (d) any additional
information about such holder or the plan of distribution (other than for an
underwritten offering) required by law or regulation to be disclosed in any such
document.

                    (c) Conduct of Indemnification Proceedings. Any Person entitled to
indemnification hereunder will (i) give prompt written notice to the
indemnifying party of any claim with respect to which it seeks indemnification
and (ii) unless in such indemnified party’s reasonable judgment a conflict of
interest may exist between such indemnified and indemnifying parties with
respect to such claim, permit such indemnifying party to assume the defense of
such claim with counsel reasonably satisfactory to the indemnified party. The
failure to so notify the indemnifying party shall not relieve the indemnifying
party from any liability hereunder with respect to the action, except to the
extent that such indemnifying party is materially prejudiced by the failure to
give such notice; provided, however, that any such failure shall not relieve the
indemnifying party from any other liability which it may have to any other
party. No indemnifying party in the defense of any such claim or litigation,
shall, except with the consent of such indemnified party, which consent shall
not be unreasonably withheld, consent to entry of any judgment or enter into any
settlement which does not include as an unconditional term thereof the giving by
the claimant or plaintiff to such indemnified party of a release from all
liability in respect of such claim or litigation. An indemnifying party who is
not entitled to, or elects not to, assume the defense of a claim will not be
obligated to pay the fees and expenses of more than one counsel for all parties
indemnified by such indemnifying party with respect to such claim, unless in the
reasonable judgment of any indemnified party there may be one or more legal or
equitable defenses available to such indemnified party which are in addition to
or may conflict with those available to any other of such indemnified parties
with respect to such claim, in which event the indemnifying party shall be
obligated to pay the reasonable fees and expenses of such additional counsel or
counsels; provided, however, that such number of additional counsel must be
reasonably acceptable to the indemnifying party.

                    (d) Contribution. If for any reason the indemnification provided for in the
preceding paragraphs (a) and (b) of this Section 5.05 is unavailable to an
indemnified party as contemplated by the preceding paragraphs (a) and (b) of
this Section 5.05, then the indemnify-

 

-36-

ing party shall contribute to the amount paid or payable by the indemnified
party as a result of such loss, claim, damage or liability in such proportion as
is appropriate to reflect not only the relative benefits received by the
indemnified party and the indemnifying party, but also the relative fault of the
indemnified party and the indemnifying party, as well as any other relevant
equitable considerations. In no event shall the liability of any selling
Shareholder be greater in amount than the amount of net proceeds received by
such Shareholder upon such sale or the amount for which such indemnifying party
would have been obligated to pay by way of indemnification if the
indemnification provided in paragraph (b) of this Section 5.05 had been
available.

                    SECTION 5.06. 1934 Act Reports. The Company agrees that at all times after
it has filed a registration statement pursuant to the requirements of the 1933
Act relating to any class of equity securities of the Company, it will use its
best efforts to file in a timely manner all reports required to be filed by it
pursuant to the 1934 Act to the extent the Company is required to file such
reports. Notwithstanding the foregoing, the Company may deregister any class of
its equity securities under Section 12 of the 1934 Act or suspend its duty to
file reports with respect to any class of its securities pursuant to Section
15(d) of the 1934 Act if it is then permitted to do so pursuant to the 1934 Act
and rules and regulations thereunder.

                    SECTION 5.07. Holdback Agreements. (a) Whenever the Company proposes to
register any of its equity securities under the 1933 Act for its own account
(other than on Form S-4 or S-8 or any similar successor form or another form
used for a purpose similar to the intended use of such forms) or is required to
use its best efforts to effect the registration of any Registrable Securities
under the 1933 Act pursuant to Section 5.01 or 5.02, each holder of Registrable
Securities agrees by acquisition of such Registrable Securities not to effect
any sale or distribution, including any sale pursuant to Rule 144 under the 1933
Act, or to request registration under Section 5.02 of any Registrable Securities
within 10 days prior to and 90 days (unless advised by the managing underwriter
that a longer period, not to exceed 180 days, is required, or such shorter
period as the managing underwriter for any underwritten offering may agree)
after the effective date of the registration statement relating to such
registration, except as part of such registration or unless in the case of a
private sale or distribution, the transferee agrees in writing to be subject to
this Section 5.07. If requested by such managing underwriter, each holder of
Registrable Securities agrees to execute a holdback agreement, in customary
form, consistent with the terms of this Section 5.07(a). Notwithstanding the
foregoing, no Shareholder will be restricted from selling any Registrable
Securities if such Shareholder and its Affiliates beneficially own a number of
shares of Common Stock as of such date of determination equal to less than five
percent (5%) of the outstanding Common Stock.

                    (b) The Company agrees not to effect any sale or distribution of any of its
equity securities or securities convertible into or exchangeable or exercisable
for any of such

 

-37-

securities within the 10 days prior to and during the 90 days (unless
advised by the managing underwriter that a longer period, not to exceed 180
days, is required, or such shorter period as the managing underwriter for any
underwritten offering may agree) beginning on the effective date of any
underwritten Demand Registration or any underwritten Piggyback Registration
(except as part of such underwritten registration or pursuant to registrations
on Form S-8 or S-4 or any successor forms thereto), except that such restriction
shall not prohibit (i) grants of employee stock options or other issuances of
Capital Stock pursuant to the terms of a Company employee benefit plan,
issuances by the Company of Capital Stock pursuant to the exercise of such
options or the exercise of any other employee stock options outstanding on the
date hereof, (ii) the Company from issuing shares of Capital Stock in private
placements pursuant to Section 4(2) of the 1933 Act or in connection with a
strategic alliance, or (iii) the Company from publicly announcing its intention
to issue, or actually issuing, shares of Capital Stock to shareholders of
another entity as consideration for the Company’s acquisition of, or merger
with, such entity. In addition, upon the request of the managing underwriter,
the Company shall use its best efforts to cause each holder of its equity
securities or any securities convertible into or exchangeable or exercisable for
any of such securities whether outstanding on the date of this Agreement or
issued at any time after the date of this Agreement (other than any such
securities acquired in a public offering), to agree not to effect any such
public sale or distribution of such securities during such period, except as
part of any such registration if permitted, and to cause each such holder to
enter into a similar agreement to such effect with the Company.

                    SECTION 5.08. Participation in Registrations. No Shareholder may
participate in any Registration hereunder which is underwritten unless such
Shareholder (a) agrees to sell its securities on the basis provided in any
underwriting arrangements approved by the persons entitled hereunder to approve
such arrangements, and (b) completes and executes all questionnaires, powers of
attorney, underwriting agreements and other documents customarily required under
the terms of such underwriting arrangements.

                    SECTION 5.09. Remedies. Each Shareholder shall have the right and remedy to
have the provisions of Sections 5.01 and 5.02 specifically enforced by any court
having jurisdiction in the event that the Company materially breaches such
provisions, and the Company shall reimburse such Shareholder for the reasonable
costs of and expenses for counsel for such Shareholder incurred in connection
with such proceeding.

                    SECTION 5.10. Other Registration Rights. The Company will not grant any
Person any demand or piggyback registration rights with respect to the Capital
Stock of the Company other than registration rights that would not be in
conflict or inconsistent with the rights of the Shareholders as set forth in
this Article V (it being understood that the Company shall not grant any
registration rights that adversely impact the MCLLC Priority set forth herein).

 

-38-

                    SECTION 5.11. Rule 144. The Company shall file any reports required to be
filed by it under the 1933 Act and the 1934 Act and the rules and regulations
adopted by the Commission thereunder, and it will take such further action as
any holder of Registrable Securities may reasonably request to make available
adequate current public information with respect to the Company meeting the
current public information requirements of Rule 144(c) under the 1933 Act, to
the extent required to enable such holder to sell Registrable Securities without
registration under the 1933 Act within the limitation of the exemptions provided
by (i) Rule 144 under the 1933 Act, as such Rule may be amended from time to
time, or (ii) any similar rule or regulation hereafter adopted by the
Commission. Notwithstanding the foregoing, nothing in this Section 5.11 shall be
deemed to require the Company to register any of its securities pursuant to the
1934 Act.

ARTICLE VI

MISCELLANEOUS

                    SECTION 6.01. Notices. All notices, requests and other communications to
any party hereunder shall be in writing (including bank wire, telex, facsimile
or similar writing) and shall be given to such party at its address or telex or
facsimile number set forth on the signature pages hereof or in the relevant
Joinder Agreement or such other address or telex or facsimile number as such
party may hereafter specify in writing to the Secretary of the Company for the
purpose by notice to the party sending such communication. Each such notice,
request or other communication shall be effective (i) if given by telex or
facsimile, when such message is transmitted to the number specified on the
signature pages to this Agreement or any Joinder Agreement, (ii) if given by
mail, three (3) business days after such communication is deposited in the mails
registered or certified, return receipt requested, with postage prepaid,
addressed as aforesaid, or (iii) if given by any other means, when delivered at
the address specified on the signature pages to this Agreement or any Joinder
Agreement.

                    SECTION 6.02. Binding Effect; Benefits; Entire Agreement. This Agreement
shall be binding upon and inure to the benefit of the parties to this Agreement
and their respective successors and permitted assigns. Nothing in this
Agreement, express or implied, is intended or shall be construed to give any
person other than the parties to this Agreement or their respective successors
or assigns any legal or equitable right, remedy or claim under or in respect of
any agreement or any provision contained herein. This Agreement constitutes the
entire agreement and understanding, and supersedes all prior agreements and
understandings, both oral and written, between the parties hereto relating to
the subject matter hereof.

                    SECTION 6.03. Waiver. Any party hereto may by written notice to the other
(a) extend the time for the performance of any of the obligations or other
actions of any other party under this Agreement; (b) waive compliance with any
of the conditions or covenants of

 

-39-

any other party contained in this Agreement; and (c) waive or modify
performance of any of the obligations of any other party under this Agreement.
Except as provided in the preceding sentence, no action taken pursuant to this
Agreement, including, without limitation, any investigation by or on behalf of
any party, shall be deemed to constitute a waiver by the party taking such
action of compliance with any representations, warranties, covenants or
agreements contained herein. The waiver by any party hereto of a breach of any
provision of this Agreement shall not operate or be construed as a waiver of any
preceding or succeeding breach and no failure by any party to exercise any right
or privilege hereunder shall be deemed a waiver of such party’s rights or
privileges hereunder or shall be deemed a waiver of such party’s rights to
exercise the same at any subsequent time or times hereunder.

                    SECTION 6.04. Amendment. Other than as a result of the execution and
delivery of a Joinder Agreement, this Agreement may not be amended, modified or
supplemented in any respect except by a written instrument executed by each
Shareholder and the Company; provided that this Agreement may be amended and
restated or amended without consent of Shareholders for the addition of new
shareholders after the date hereof if such addition does not materially and
adversely affect the rights of the Shareholders (it being understood that,
subject to Section 5.10, the granting of Demand Registration rights to new
shareholders shall not constitute an adverse effect and that piggyback
registration rights and tag along rights shall not constitute an adverse
effect).

                    SECTION 6.05. Assignability. Neither this Agreement nor any right, remedy,
obligation or liability arising hereunder or by reason hereof shall be
assignable by either the Company or any Shareholder except as otherwise
expressly stated hereunder or with the prior written consent of each other
party. A Direct Permitted Transferee who executes a Joinder Agreement in
accordance with the provisions hereof may be assigned any rights available
hereunder. All of the rights offered a Shareholder under this Agreement are
assignable to a Transferee or a Permitted Transferee who executes a Joinder
Agreement, except for the rights set forth in Sections 4.05, 4.06, 4.07 and
5.02. The rights set forth in Sections 4.04 and 5.02 are assignable to a
Transferee or a Permitted Transferee who executes a Joinder Agreement to the
extent provided in Section 4.04 and 5.02(h), respectively.

                    SECTION 6.06. Applicable Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York, regardless of
the laws that might otherwise govern under applicable principles of conflicts of
law that would require the application of the laws of another jurisdiction, and
the parties irrevocably submit to (and waive immunity from) the jurisdiction of
the federal and state courts located in the County of New York in the State of
New York.

                    SECTION 6.07. Specific Performance. The parties hereto agree that
irreparable damage would occur in the event that any of the provisions of this
Agreement were not

 

-40-

performed in accordance with their specific terms or were otherwise
breached. It is accordingly agreed that the parties shall be entitled to an
injunction or injunctions to prevent breaches of the provisions of this
Agreement and to enforce specifically the terms and provisions hereof in any
state or federal court of New York (this being in addition to any other remedy
to which they are entitled at law or in equity), and each party hereto agrees to
waive in any action for such enforcement the defense that a remedy at law would
be adequate.

                    SECTION 6.08. Severability. If any provision of this Agreement is declared
by any court of competent jurisdiction to be illegal, void or unenforceable, all
other provisions of the Agreement will not be affected and will remain in full
force and effect.

                    SECTION 6.09. Additional Securities Subject to Agreement. Each Shareholder
agrees that any other shares of Common Stock which it hereafter acquires by
means of a stock split, stock dividend, distribution, exercise of options or
warrants or otherwise (other than pursuant to a public offering) whether by
merger, consolidation or otherwise (including shares of a surviving corporation
into which the shares of Common Stock are exchanged in such transaction) will be
subject to the provisions of this Agreement to the same extent as if held on the
date hereof, including for purposes of constituting Registrable Securities
hereunder. For purposes hereof, the presently existing and exercisable warrant
held by MCLLC should be deemed exercised.

                    SECTION 6.10. Section and Other Headings. The section and other headings
contained in this Agreement are for reference purposes only and shall not affect
the meaning or interpretation of this Agreement.

                    SECTION 6.11. Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be deemed to be an original and all of which
together shall be deemed to be one and the same instrument. A facsimile,
telecopy or other reproduction of this Agreement may be executed by one or more
parties hereto, and an executed copy of this Agreement may be delivered by one
or more parties hereto by facsimile or similar instantaneous electronic
transmission device pursuant to which the signature of or on behalf of such
party can be seen, and such execution and delivery shall be considered valid,
binding and effective for all purposes. At the request of any party hereto, all
parties hereto agree to execute an original of this Agreement as well as any
facsimile, telecopy or other reproduction hereof.

                    SECTION 6.12. Termination of Certain Provisions. The provisions of this
Agreement set forth in Sections 3.01, 3.02, 4.01, 4.02, 4.03, 4.04(b) and
4.04(d) will terminate and be of no force and effect upon the occurrence of a
Qualifying Public Equity Offering. The provisions of this Agreement set forth in
Sections 4.04(a) and 4.05 will terminate and be of no force and effect upon the
occurrence of an Initial Public Offering.

 

-41-

                    SECTION 6.13. ERISA Matters. The Company agrees to give Sponsor certain board observation
rights and consultation rights to the extent Sponsor does not have the ability to designate a
Person to the Board of Directors of the Company and failure to have such board observation rights
and consultation rights would cause Sponsor to have an ERISA Problem. For purposes of this Section
6.13, “ERISA Problem” means that the assets of Sponsor and its Affiliates would be considered “Plan
Assets” within the meaning of 29 CFR 2510.3-101 due to the fact that Sponsor and its Affiliates do
not have such rights.

                    SECTION 6.14. Regulatory Cooperation. If any Shareholder reasonably determines that, by reason
of any existing or future federal or state rule, regulation, guideline, order, request or directive
(whether or not having the force of law and whether or not failure to comply therewith would be
unlawful) (collectively, a “Regulatory Requirement”), it is effectively restricted or prohibited
from holding any of the shares of Common Stock (including any shares of Capital Stock or other
securities distributable in any merger, reorganization, readjustment or other reclassification of
such shares), the Company and the other Shareholders shall take such action as may be reasonably
necessary to permit such Shareholder to comply with such Regulatory Requirement; provided, that no
such action pursuant to this Section 6.14 shall adversely affect the Company, the rights of the
other Shareholders hereunder or the rights, preferences, qualifications and limitations of any
Capital Stock of the Company held by the other Shareholders; provided, further that neither the
Company nor any Shareholder shall be required to purchase any of such shares of Common Stock as a
result of such Regulatory Requirement. Such reasonable action to be taken may include the Company’s
authorization of one or more new classes of non-voting common stock that is otherwise substantially
identical to the Common Stock then owned by such Shareholder and the amendment of the Company’s
certificate of incorporation or any other documents or instruments executed in connection with the
shares held by such Shareholder. Such Shareholder shall give written notice to the Company and the
other Shareholders of any such determination and the actions necessary to comply with such
Regulatory Requirement, and the Company and such other Shareholders shall take all reasonably
necessary steps to comply with such determination as expeditiously as possible.

                    SECTION 6.15. Publicity. None of the parties hereto shall issue any press release or make any
public disclosure regarding the transactions contemplated hereby unless such press release or
public disclosure shall be approved by those parties mentioned in such press release or public
disclosure in advance. Notwithstanding the foregoing, each of the parties hereto may, in documents
required to be filed by it with the Commission or other regulatory bodies, make such statements
with respect to the transactions contemplated hereby as each may be advised by counsel is legally
necessary or advisable, and may make such disclosure as it is advised by its counsel is required by
law.

 

-42-

                    SECTION 6.16. MCLLC Securities. Notwithstanding clause (iii) of the definition of “Permitted
Transferee”, MCLLC or any controlled Affiliate of MCLLC (including any wholly-owned subsidiary of
MCLLC) may issue any security (the “Convertible Security”) which is convertible or exchangeable
into the Common Stock, provided that concurrently with such issuance the recipient of such
Convertible Security executes a Joinder Agreement agreeing to be bound by the terms of this
Shareholders Agreement as a Shareholder to the extent that the Convertible Security is converted or
exchanged into the Common Stock and agrees that no subsequent Transfers of such Convertible
Security shall be effected unless such subsequent transferee executes a Joinder Agreement agreeing
to be bound by the terms of this Shareholders Agreement as a Shareholder to the extent that the
Convertible Security is converted or exchanged into the Common Stock.

[Signature Pages Follow]

 

 

                    IN WITNESS WHEREOF, the Company and each Shareholder have
executed this Agreement as of the day and year first above written.

	 	 	 	 	 
	 	TRIMAS CORPORATION

 	 
	Date: June 6, 2002 	By:  	/s/ Todd R. Peters
 	 
	 	 	Name:  	Todd R. Peters 	 
	 	 	Title:  	EVP and CFO 	 
	 

	 	 	 	 	 

	Date: July 19, 2002 	By:  	/s/ Todd R. Peters
 	 
	 	 	Name:  	Todd R. Peters 	 
	 	 	Title:  	EVP and CFO 	 
	 

	 	 	 	 	 
	 	Notices: 	 
	 
	 	TriMas Corporation 	 
	 	39400 North Woodward Ave., Suite 130

Bloomfield Hills, MI 48304

Attention: General Counsel

Facsimile: (734) 207-6797 	 
	 

	 	 	 	 	 
	 	With a copy to:

 	 
	 	Cahill Gordon & Reindel 	 
	 	80 Pine Street

New York, New York 10005

Attention: Jonathan A. Schaffzin, Esq.

Facsimile: (212) 269-5420 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	METALDYNE COMPANY LLC

 	 
	 	By:  	/s/ R. Jeffrey Pollock
 	 
	 	 	Name:  	R. Jeffrey Pollock  	 
	 	 	Title:  	Secretary 	 
	 

	 	 	 	 	 
	 	Notices:

 	 
	 	47603 Halyard Drive  	 
	 	Plymouth, Michigan  48170

Attention: Chairman of the Board and

                    General Counsel

Facsimile:  (248) 631-5444 	 

 

 

	 	 	 	 	 
	 	 	 
	 	MESIROW CAPITAL PARTNERS VIII, L.P.	 
	 
	Dated: July 19, 2002  	By: Mesirow Financial Services, Inc.,
its General Partner	 
	 
	 	By:  	                                         /s/ Thomas E. Galuhn
 	 
	 	 	Name:  	Thomas E. Galuhn                          	 
	 	 	Title:  	Senior Managing Director 	 
	 

	 	 	 	 	 
	 	Notices:

 	 
	 	Mesirow Private Equity Investments                                	 
	 	350 North Clark Street

Chicago, IL 60610

Attn: Thomas Galuhn

Facsimile:  (312) 595-6211 	 

 

 

	 	 	 	 	 
	 	 	 
	 	MESIROW CAPITAL PARTNERS VII, L.P.	 
	 
	Dated: July 19, 2002  	By: Mesirow Financial Services, Inc.,
its General Partner	 
	 
	 	By:  	                               /s/ Thomas E. Galuhn
 	 
	 	 	Name:  	Thomas E. Galuhn 	 
	 	 	Title:  	Senior Managing Director 	 
	 

	 	 	 	 	 
	 	Notices:

 	 
	 	Mesirow Private Equity Investments 	 
	 	350 North Clark Street

Chicago, IL 60610

Attn: Thomas Galuhn

Facsimile: (312) 595-6211 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	GE CAPITAL EQUITY INVESTMENTS, INC.

 	 
	Date: July 19, 2002 	By:  	/s/ Patrick Kocsi
 	 
	 	 	Name:  	Patrick Kocsi 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	Notices:

 	 
	 	GE Capital Equity Investments, Inc. 	 
	 	120 Long Ridge Road

Stamford, CT 06927

Attention: Barbara J. Gould, Esq.

Facsimile: (203) 357-3047

Attention: William R. Kraus

Facsimile: (203) 357-6426 	 
	 

	 	 	 	 	 
	 	With a copy to:

 	 
	 	Winston & Strawn 	 
	 	200 Park Avenue

New York, NY 10166

Attention: David B. Hertzog, Esq.

Facsimile: (212) 294-4700 	 
	 

 

 

HEARTLAND ENTITY:

	 	 	 	 	 
	 	 	 
	 	TRIMAS INVESTMENT FUND I, L.L.C.	 
	 
	Date: September 11, 2002 	By: Heartland Industrial Associates L.L.C.,

       its General Partner	 
	 
	 	By:  	                                       /s/ Daniel P. Tredwell
 	 
	 	 	Name:  	Daniel P. Tredwell 	 
	 	 	Title:  	Managing Member 	 
	 

	 	 	 	 	 
	 	Notices:

 	 
	 	55 Railroad Avenue 	 
	 	Greenwich, Connecticut 06830

Attention: David A. Stockman

Facsimile: (203) 861-2722 	 

	 	 	 	 	 
	 	With a copy to:

 	 
	 	Cahill Gordon & Reindel 	 
	 	80 Pine Street

New York, New York 10005

Attention: Jonathan A. Schaffzin, Esq.

Facsimile: (212) 269-5420 	 

 

 

HEARTLAND ENTITY:

	 	 	 	 	 
	 	 	 
	 	TRIMAS INVESTMENT FUND I, L.L.C.	 
	 
	Date: September 11, 2002 	By: Heartland Industrial Associates L.L.C.,

       its General Partner	 
	 
	 	By:  	                                       /s/ Daniel P. Tredwell
 	 
	 	 	Name:  	Daniel P. Tredwell 	 
	 	 	Title:  	Managing Member 	 

	 	 	 	 	 
	 	Notices:

 	 
	 	55 Railroad Avenue 	 
	 	Greenwich, Connecticut 06830

Attention: David A. Stockman

Facsimile: (203) 861-2722 	 

	 	 	 	 	 
	 	With a copy to:	 
	 
	 	Cahill Gordon & Reindel 	 
	 	80 Pine Street

New York, New York 10005

Attention: Jonathan A. Schaffzin, Esq.

Facsimile: (212) 269-5420 	 

 

 

	 	 	 	 	 

MASCO CAPITAL ENTITY:

	 	 	 	 	 
	 	MASCO CAPITAL CORPORATION

 	 
	 	By:  	/s/ Peter T. Cracchiolo
 	 
	 	 	Name:  	Peter T. Cracchiolo  	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	Notices:

 	 
	 	21001 Van Born Road Taylor, 	 
	 	Michigan 48140

Attention: Chairman of the Board and General Counsel

Facsimile:  (313) 792 4107 	 
	 

	 	 	 	 	 
	 	With a copy to:

 	 
	 	Honigman Miller Schwartz and Cohn  	 
	 	2290 First National Building

Detroit, Michigan 48226

Attention:    Alan Stuart Schwartz, Esq.

Facsimile:  (313) 465-7575 	 

 

 

	 	 	 	 	 

CANADA PENSION PLAN ENTITY:

	 	 	 	 	 
	 	HIP SIDE-BY-SIDE PARTNERS, L.P.  	 
	 	 	 
	 	By: Heartland Industrial Associates L.L.C.,

       its General
Partner	 
	 
	 	By:  	 /s/ David A. Stockman
 	 
	 	 	Name:  	David A. Stockman  	 
	 	 	Title:  	Managing Member 	 
	 

	 	 	 	 	 
	 	Notices:

 	 
	 	55 Railroad Avenue 	 
	 	Greenwich, Connecticut 06830
 Attention:
David A. Stockman

Facsimile:  (203) 861-2722 	 
	 

	 	 	 	 	 
	 	With a copy to:

 	 
	 	Cahill Gordon & Reindel 80 Pine 	 
	 	Street New York, New York  10005

Attention:    Jonathan A. Schaffzin, Esq.

Facsimile: (212) 269-5420 	 

 

 

	 	 	 	 	 

SCHEDULE 2.04

	 	 	 	 	 
	Shareholder List	 	 	 	 
	 
	Trimas Investment Fund I, L.L.C.
	 	 	10,074,005	 
	 
	 	 	 	 
	Trimas Investment Fund II, L.L.C.
	 	 	250,995	 
	 
	 	 	 	 
	Masco Capital Corporation
	 	 	1,250,000	 
	 
	 	 	 	 
	HIP Side-by-Side Partners, L.P.
	 	 	675,000	 
	 
	 	 	 	 
	Metaldyne Company LLC
	 	 	6,000,000	 
	 
	 	 	 	 
	GE Capital Equity Investments, Inc.*
	 	 	750,000	 
	 
	 	 	 	 
	Mesirow Capital Partners VIII, L.P.*
	 	 	175,000	 
	 
	 	 	 	 
	Mesirow Capital Partners VII, L.P.*
	 	 	75,000	 

 

			
	*	 	Added by amendment and restatement dated as of July 19, 2002.

 

 

EXHIBIT A

JOINDER AGREEMENT

                    WHEREAS, the undersigned is acquiring simultaneously with the execution of this Agreement
common stock (the “Common Stock”), par value $0.01 per share of TriMas Corporation (the “Company”);
and

                    WHEREAS, as a condition to the acquisition of the Common Stock, the undersigned has agreed to
join in a certain Shareholders Agreement (the “Shareholders Agreement”) dated as of June 6, 2002
and amended and restated as of July 19, 2002 among TriMas Corporation and the Shareholders (as such
term is defined in the Shareholders Agreement); and

                    WHEREAS, the undersigned understands that execution of this Agreement is a condition precedent
to the acquisition of the Common Stock;

                    NOW, THEREFORE, as an inducement to both the transferor of the Common Stock and the other
Shareholders (as such term is defined in the Shareholders Agreement), to Transfer (as such term is
defined in the Shareholders Agreement) and to allow the Transfer of the Common Stock to the
undersigned, the undersigned agrees as follows:

                    1. The undersigned hereby joins in the Shareholders Agreement and agrees to be bound by
the terms and provisions of the Shareholders Agreement as provided by the Shareholders Agreement.

                    2. The undersigned hereby consents that the certificate or certificates to be issued to
the undersigned representing the Common Stock shall be legended as follows:

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE OFFERED OR SOLD EXCEPT
PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED, OR (ii) AN APPLICABLE EXEMPTION FROM REGISTRATION THEREUNDER. ANY
SALE PURSUANT TO CLAUSE (ii) OF THE PRECEDING SENTENCE MUST BE ACCOMPANIED BY AN OPINION
OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY TO THE EFFECT THAT SUCH EXEMPTION
FROM REGISTRATION IS AVAILABLE IN CONNECTION WITH SUCH SALE.

THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE ALSO SUBJECT TO THE TERMS AND
CONDITIONS, INCLUDING WITH RESPECT TO THE DIRECT OR INDIRECT TRANSFER THEREOF, OF A

 

 

SHAREHOLDERS AGREEMENT DATED AS OF JUNE 6, 2002, AS AMENDED AND RESTATED AS OF JULY
19, 2002. THE SHAREHOLDERS AGREEMENT CONTAINS, AMONG OTHER THINGS, SIGNIFICANT
RESTRICTIONS ON TRANSFER OF THE SECURITIES OF THE COMPANY. A COPY OF THE SHAREHOLDERS
AGREEMENT IS AVAILABLE UPON REQUEST FROM THE COMPANY.”

                    IN WITNESS WHEREOF, the undersigned has executed this Agreement this ___day of
                    , 20_.

	 	 	 	 	 
	 	 	 
	 	
 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 	Address:exv10wk

 

Exhibit 10.k

AMENDMENT NO. 1

TO SHAREHOLDERS AGREEMENT

     AMENDMENT NO. 1 (this “Amendment”), dated as of August 31, 2006, to the SHAREHOLDERS
AGREEMENT, dated as of June 6, 2002, as amended and restated as of July 19, 2002 (the
“Shareholders Agreement”) by and among TRIMAS CORPORATION, a Delaware corporation (the
“Company”), METALDYNE COMPANY LLC (“MCLLC”), HEARTLAND INDUSTRIAL PARTNERS, L.P.
and the HEARTLAND ENTITIES identified on the signature pages thereto and the other parties
identified as SHAREHOLDERS therein and listed on the signature pages thereto or identified on the
signature page of any Joinder Agreement executed and delivered pursuant to the Shareholders
Agreement and the parties identified on the signature pages hereto as “METALDYNE SHAREHOLDER
PARTIES”. Capitalized terms used but not otherwise defined herein shall have the respective
meanings ascribed thereto in the Shareholders Agreement.

 R E C I T A L S :

     A. MCLLC is the owner of 4,076,087 shares of the issued and outstanding Common Stock of the
Company and a Warrant to purchase 750,000 shares of Common Stock of the Company (the
“Warrant” and, together with the shares of Common Stock owned by MCLLC or issuable upon
exercise of the Warrant, the “Metaldyne Shares”) on the date hereof.

     B. MCLLC is considering making a distribution of the Metaldyne Shares to its parent company,
Metaldyne Corporation (“Metaldyne”), which will, in turn, make a distribution of the
Metaldyne Shares to the stockholders of record of Metaldyne and MCLLC has requested an amendment of
certain provisions of the Shareholders Agreement to permit the foregoing.

     C. The Company, MCLLC and the other Shareholders desire to amend certain provisions of the
Shareholders Agreement to permit the Metaldyne Distribution (as hereinafter defined), but, as a
condition to its willingness to execute the Amendment, the Company is requiring that all current
stockholders of Metaldyne that are also currently parties to the shareholders agreement in place
with respect to shares of common stock of Metaldyne execute this Amendment and agree to the
provisions of the Shareholders Agreement in anticipation of the Metaldyne Distribution in the event
that it should occur.

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

 

-2-

 A G R E E M E N T :

          The parties agree as follows:

     1. Amendment to Introduction. (a) The Preamble to the Shareholders Agreement is
hereby amended by adding “either” after the word “executing” and by adding the following after the
word “hereof”: “and, with respect to the Metaldyne Shareholders, upon the occurrence of the
Metaldyne Distribution”. It is hereby agreed that, from and after the Metaldyne Distribution, the
Metaldyne Shareholder Parties shall be “Shareholders” for all purposes of the Shareholders
Agreement.

          (b) The first “Whereas” clause of the Shareholders Agreement is hereby amended by adding the
following at the end of such clause: “and, upon the occurrence of the Metaldyne Distribution (if it
should occur), each Metaldyne Shareholder Party has received its pro rata share of the Distributed
Shares pursuant to the Metaldyne Distribution.”

          (c) The second “Whereas” clause of the Shareholders Agreement is hereby amended and restated
as follows: “WHEREAS, as a result of and in connection with the Stock Purchase, each Shareholder as
of July 19, 2002 owns the number of shares set forth on Schedule 2.04 hereto and, as a result of
and in connection with the Metaldyne Distribution (if it should occur), MCLLC will no longer own
the Distributed Shares reflected on Schedule 2.04 hereto and each Metaldyne Shareholder Party will
own its pro rata share of the Distributed Shares.”

     2. Amendment to Section 1.01. (a) Section 1.01 of the Shareholders Agreement is
hereby amended by adding the following at the end of the definition of “Transfer”: “;
provided that the declaration (as opposed to the making) of the Metaldyne Distribution
shall not be considered to be a Transfer for purposes of the Shareholders Agreement.”

          (b) Section 1.01 of the Shareholders Agreement is hereby amended by inserting the following
defined terms (in their appropriate alphabetic order) into such section:

“Distributed Shares” means any shares of Common Stock or of all or any portion of
the Warrant that, in either case, is subject to a Metaldyne Distribution to
Metaldyne Shareholders.

“First Amendment” means Amendment No. 1 to Shareholders Agreement, dated as of
August 31, 2006, among the Company, MCLLC, Heartland Industrial Partners, L.P., the
Heartland Entities identified on the signature pages thereto, the other Shareholders
listed on the signature pages thereto and the Metaldyne Shareholder Parties listed
on the signature pages thereto.

 

-3-

“First Amendment Date” means August 31, 2006.

“Limited Permitted Transferee” means (a) with respect to any Shareholder that is a
natural person, (i) the spouse or any lineal descendant (including by adoption or
stepchildren) of such Shareholder or any Transferee of such Shareholder by operation
of laws of descent, (ii) any trust of which such Shareholder is the trustee and
which is established solely for the benefit of any of the foregoing individuals and
(iii) any partnership, all of the general partner(s) and limited partner(s) (if any)
of which are one or more Persons identified in the preceding clause (i) and (b) with
respect to any other Person, an Affiliate of such Person.

“Metaldyne Distribution” means any distribution by MCLLC to Metaldyne or by
Metaldyne to Metaldyne Shareholders of any shares of Common Stock (including shares
of Common Stock issuable upon exercise of the Warrant) or of all or any portion of
the Warrant.

“Metaldyne Shareholders” means (i) the owners of record of the common stock of
Metaldyne Corporation as of the record date of any Metaldyne Distribution or (ii)
any legal successor-in-interest to or any Limited Permitted Transferee of any Person
referred to in clause (i) of this definition.

“Metaldyne Shareholder Parties” means (i) those owners of record of the common stock
of Metaldyne Corporation as of the First Amendment Date that are party to the
Shareholders Agreement relating to shares of common stock of Metaldyne dated as of
November 28, 2000 among Metaldyne and the Shareholders named therein (whether
directly or by joinder agreement), as amended from time to time, and (ii) any legal
successor-in-interest to or any Transferee of any Person referred to in clause (i)
of this definition that is required to become a party to the Shareholders Agreement
by reason of Section 11(a) of the First Amendment.

“1934 Act Registration” means the registration of the Common Stock by the Company
under the 1934 Act.

     3. Amendment to Section 3.02. Section 3.02 of the Shareholders Agreement is hereby
amended and restated in its entirety as follows:

          “Subject to all applicable laws, the restrictions on Transfer set forth in Section 3.01 hereof
shall not apply to any of the following:

 

-4-

(a) a Transfer by a Shareholder of Common Stock (other than Distributed Shares prior
to the 1934 Act Registration) to one of its Permitted Transferees; provided
that such Permitted Transferee shall agree to execute a Joinder Agreement in the
form annexed hereto as Exhibit A (the “Joinder Agreement”);

(b) a Transfer of Common Stock (other than Distributed Shares prior to the 1934 Act
Registration) by a Shareholder in accordance with Sections 4.02 and 4.03 of this
Agreement;

(c) a Transfer by a Shareholder of Common Stock (other than Distributed Shares prior
to the 1934 Act Registration) after such Shareholder has complied with Section 4.01;
provided that the Transferee shall agree to execute a Joinder Agreement;

(d) a Transfer of Common Stock by a Shareholder pursuant to an effective
registration statement under the 1933 Act or a Transfer of Common Stock (other than
Distributed Shares prior to the 1934 Act Registration) pursuant to Rule 144 under
the 1933 Act;

(e) a Transfer by MCLLC in connection with the issuance of a Convertible Security as
contemplated by Section 6.16; provided that the recipient of such
Convertible Security agrees to execute a Joinder Agreement as described in Section
6.16;

(f) Transfers by MCLLC and Metaldyne pursuant to a Metaldyne Distribution;
provided that, if such Transfer is to Metaldyne Shareholders prior to the
1934 Act Registration, provision shall be made to ensure that subsequent Transfers
of Distributed Shares shall only be made, prior to the 1934 Act Registration, by
Metaldyne Shareholders to Limited Permitted Transferees of such Metaldyne
Shareholder; and

(g) following a Metaldyne Distribution and prior to the 1934 Act Registration, a
Transfer by a Metaldyne Shareholder of Distributed Shares to Limited Permitted
Transferees of such Metaldyne Shareholder.

     4. Amendment of Section 4.01. Section 4.01(a) of the Shareholders Agreement is
hereby amended by (i) deleting the phrase “Section 3.02(a), 3.02(d), 4.02 or 4.03” and replacing it
in its entirety with “Section 3.02(a), 302(d), 3.02(g), 4.02 or 4.03” and (ii) adding the
following to the end of that section: “Notwithstanding anything to the contrary

 

-5-

herein, this Section 4.01 (including, without limitation, the provisions of the second paragraph of
Section 4.01(c)) shall be inapplicable to the Metaldyne Distribution itself.”

     5. Amendment of Section 4.02(a). Section 4.02(a) of the Shareholders Agreement is
hereby amended by (i) deleting the phrase “Section 3.02(a), 3.02(d), 5.01 or 5.02” and replacing it
in its entirety with “Section 3.02(a), 3.02(d), 3.02(g), 5.01 or 5.02” and (ii) adding the
following to the end of last sentence thereof: “provided that, for the avoidance of doubt,
the provisions of this last sentence shall not apply to Transfers of Distributed Shares received by
the Sponsor Transferor.”

     6. Amendment of Section 4.03. Section 4.03 of the Shareholders Agreement is hereby
amended by adding the following to the end of first sentence thereof: “provided,
further, that, for the avoidance of doubt, the second proviso of this sentence shall cease
to apply following the Metaldyne Distribution.”

     7. Amendment of Section 4.04. (a) Section 4.04(b) of the Shareholders Agreement is
hereby amended by deleting the beginning thereof through but not including “(1)” and replacing it
in its entirety with the following: “In the case of (x) any Shareholder (other than MCLLC) prior to
the occurrence of a Qualifying Public Equity Offering, and for so long as such Shareholder owns
twenty-five percent (25%) of the number of shares of Common Stock (as adjusted for Adjustments)
owned by such Shareholder (in the case of any Shareholder other than a Metaldyne Shareholder Party,
as of the date of the amendment and restatement hereof or, in the case of any Metaldyne Shareholder
Party, as of and after giving effect to the Metaldyne Distribution) or (y) MCLLC, for so long as
MCLLC owns twenty-five percent (25%) of the number of shares of Common Stock (as adjusted for
Adjustments) owned by MCLLC immediately following the Transactions, the Company shall deliver the
following to each such Shareholder and MCLLC:”

          (b) Section 4.04(b) shall be amended by the addition of the following at the end thereof:
“Notwithstanding the foregoing and the last sentence of Section 4.04(c), the information available
under Section 4.04(b) (2) and (3) shall not be made available to a Metaldyne Shareholder Party if
the Company is filing annual, quarterly and current reports under the 1934 Act (unless it would
otherwise be entitled to such information as a Shareholder apart from the Metaldyne Distribution).”

          (c) Section 4.04(e) shall be amended by the addition of the following language at the end
thereof: “Each Shareholder acknowledges that trading in securities of the Company and its
Subsidiaries on the basis of material non-public information received under this Agreement may
constitute a violation of United States Federal securities laws and agrees to act to ensure
compliance with such laws.”

 

-6-

     8. Amendment of Section 4.06. (a) Section 4.06(a) of the Shareholders Agreement is
hereby amended by the addition of the following at the end thereof: “(e) For the avoidance of
doubt, Section 4.06(a)(ii)(2) and (3), the proviso to Section 4.06(a)(iv), Section 4.06(b) and
Section 4.06(d) shall have no further effect following the occurrence of the Metaldyne
Distribution.”

     9. Amendment of Section 4.07. Upon the occurrence any Metaldyne Distribution, the
proviso to the penultimate sentence of Section 4.07 shall be deleted.

     10. Amendment of Sections 5.01, 5.02 and 5.07. (a) Section 5.01(a) of the
Shareholders Agreement is hereby amended by the addition of the following at the end thereof:
“Notwithstanding anything herein to the contrary, and for the avoidance of doubt, no Metaldyne
Shareholder shall become entitled to rights pursuant to this Section 5.01 by reason of receiving
Distributed Shares in the Metaldyne Distribution, except that Affiliates of the Company that
receive Distributed Shares shall be entitled to the registration rights afforded to a “Shareholder”
pursuant to this Section 5.01 in respect of such Distributed Shares, in addition to such rights as
may otherwise exist under Article V in favor of such Affiliate.”

          (b) Section 5.02(a) shall be amended by the addition of the following at the end thereof:
“Notwithstanding anything herein to the contrary, and for the avoidance of doubt, no Metaldyne
Shareholder shall become entitled to rights pursuant to this Section 5.02 by reason of receiving
Distributed Shares in the Metaldyne Distribution, except for Sponsor and its Direct Permitted
Transferees in their capacity as Demand Holders.”

          (c) Each Metaldyne Shareholder Party agrees that, regardless of whether or not Distributed
Shares held by it are Registrable Securities, such shares shall be subject to the holdback
agreements of Section 5.07 as though they were Registrable Securities solely for purposes of any
Initial Public Offering.

     11. Addition of Section 6.17. The Shareholders Agreement is hereby amended by adding
the following section:

          “Section 6.17. Metaldyne Distribution.

          (a) Notwithstanding any provision of this Agreement, MCLLC and Metaldyne may effect any
Metaldyne Distribution; provided that (i) no recipient of Distributed Shares will thereby
become entitled to the rights and benefits of, or be subject to the obligations and burdens under,
this Agreement that are specifically ascribed to MCLLC and (ii) the only Persons that will become
entitled to rights and be subject to obligations hereunder as a result of the Metaldyne
Distribution will be the Metaldyne Shareholder Parties by reason of their execution of the First
Amendment or of a Joinder Agreement. For the sake of clarity, it is agreed

 

-7-

that, other than in the case of the Metaldyne Shareholder Parties, recipients of Distributed Shares
pursuant to the Metaldyne Distribution need not sign a Joinder Agreement.

          (b) Notwithstanding any provision to the contrary contained in this Agreement and for the
sake of clarity, each Metaldyne Shareholder Party agrees that, following a Metaldyne Distribution
and prior to the 1934 Act Registration, Transfers of Distributed Shares shall only be made to
Limited Permitted Transferees and MCLLC shall take and cause Metaldyne to take all reasonably
necessary action to ensure such.

          (c) The Company agrees to cooperate and take all such actions as may be required to ensure
compliance with applicable United States Federal and state securities laws in connection with the
foregoing, including, without limitation, the Company agrees to file a registration statement on
Form 10 (or any successor form) with respect to the registration of the Common Stock under the 1934
Act Registration and to use best efforts to cause such registration statement to be declared
effective by the Commission not later than 120 days following the end of the year which the
Metaldyne Distribution shall have occurred.

     12. Covenants, Representations and Warranties of MCLLC and Metaldyne Shareholder
Parties. (a) Each Metaldyne Shareholder Party hereby agrees that, as a condition to any
Transfer of shares of common stock of Metaldyne prior to the completion of the Metaldyne
Distribution, it shall cause the Transferee to execute a Joinder Agreement to the Shareholders
Agreement to become a Metaldyne Shareholder Party (if it is not already a party to the Shareholders
Agreement).

          (b) Each of the Metaldyne Shareholder Parties hereby severally makes to the Company the
representations and warranties set forth in Sections 2.01 (“Authority; Enforceability”), 2.02 (“No
Breach”) and Section 2.03(a) (“Consents”) solely with respect to the execution, delivery and
performance of this Amendment and the matters contemplated hereby.

          (c) Each Metaldyne Shareholder Party hereby agrees and authorizes the Company to act as a
custodian to hold any Distributed Shares prior to the 1934 Act Registration to ensure compliance
with United States Federal securities laws and acknowledges that Metaldyne has agreed to deliver
any Distributed Shares to the Company for that purpose. In addition, the Company is authorized to
retain such shares for the duration of any lock-up or hold back period consistent with Section
10(c) of this Amendment if 1934 Act Registration occurs in connection with an Initial Public
Offering.

          (d) The Company hereby agrees with Metaldyne that it will not effect transfers of Common
Stock in the stock ledger of the Company or issue new certificates in connection with any such
transfers, other than in compliance with all Regulatory Requirements and this Shareholders
Agreement.

 

-8-

          (e) The Distributed Shares will contain the following legend, notwithstanding Section 3.04,
and MCLLC and the Company shall cooperate to ensure that, prior to the Metaldyne Distribution, all
Distributed Shares, whether or not subject to the Shareholders Agreement will bear the following
legend:

     THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE OFFERED OR SOLD PRIOR TO THE
REGISTRATION OF THE CLASS OF THE SECURITIES UNDER THE UNITED STATES SECURITIES ACT OF 1934
EXCEPT TO (A) WITH RESPECT TO ANY SHAREHOLDER THAT IS A NATURAL PERSON, (I) THE SPOUSE OR
ANY LINEAL DESCENDANT (INCLUDING BY ADOPTION OR STEPCHILDREN) OF SUCH SHAREHOLDER OR ANY
TRANSFEREE OF SUCH SHAREHOLDER BY OPERATION OF LAWS OF DESCENT, (II) ANY TRUST OF WHICH SUCH
SHAREHOLDER IS THE TRUSTEE AND WHICH IS ESTABLISHED SOLELY FOR THE BENEFIT OF ANY OF THE
FOREGOING INDIVIDUALS AND (III) ANY PARTNERSHIP, ALL OF THE GENERAL PARTNER(S) AND LIMITED
PARTNER(S) (IF ANY) OF WHICH ARE ONE OR MORE PERSONS IDENTIFIED IN THE PRECEDING CLAUSE (I)
AND (B) WITH RESPECT TO ANY OTHER PERSON, AN AFFILIATE OF SUCH PERSON.

          Distributed Shares subject to the Shareholders Agreement shall also bear the following legend:

     THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE ALSO SUBJECT TO THE TERMS AND
CONDITIONS, INCLUDING WITH RESPECT TO THE DIRECT OR INDIRECT TRANSFER THEREOF, OF A
SHAREHOLDERS AGREEMENT DATED AS OF JUNE 6, 2002, AS AMENDED AND RESTATED AS OF JULY 19, 2002
AND AS AMENDED ON AUGUST 31, 2006 (AS AMENDED, AMENDED AND RESTATED, MODIFIED OR
SUPPLEMENTED FROM TIME TO TIME, THE “SHAREHOLDERS AGREEMENT”). THE SHAREHOLDERS AGREEMENT
CONTAINS, AMONG OTHER THINGS, SIGNIFICANT RESTRICTIONS ON TRANSFER OF THE SECURITIES OF THE
COMPANY. A COPY OF THE SHAREHOLDERS AGREEMENT IS AVAILABLE UPON REQUEST FROM THE COMPANY.

     13. Provisions of General Application. Except as otherwise expressly provided by this
Amendment, all of the terms, conditions and provisions to the Shareholders Agreement remain
unaltered. The Shareholders Agreement and this Amendment shall be read and construed as one
agreement. If any of the terms of this Amendment shall conflict in any respect with any of the
terms of the Shareholders Agreement, the terms of this Amendment shall be controlling.

 

-9-

     14. Counterparts; Effectiveness; Captions. This Amendment may be signed in any number
of counterparts, each of which shall be an original, with the same effect as if the signatures
thereto and hereto were upon the same instrument. The captions of this Amendment are included for
convenience of reference only, do not constitute a part hereof and shall be disregarded in the
construction hereof.

     15. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS.

     16. Entire Agreement. This Amendment constitutes the full and entire understanding
and agreement between the parties hereto with respect to the subject matter hereof and supersedes
all prior negotiations, understandings and agreements between such parties in respect of such
subject matter.

 

-10-

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

	 	 	 	 	 
	 	TRIMAS CORPORATION

 	 
	Date:  August 31, 2006 	By:  	/s/
[ILLEGIBLE]
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

	 	 	 	 	 	 	 
	 	 	HIP SIDE-BY-SIDE PARTNERS, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	HEARTLAND INDUSTRIAL
ASSOCIATES, L.L.C.	 	 
	 

	 	Its:
	 	General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ [Illegible]	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 
	 	METALDYNE COMPANY LLC

 	 
	 	By:  	/s/ [Illegible]	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 	 	 
	 	 	MESIROW CAPITAL PARTNERS VIII, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	by
	 	Mesirow Financial Services, Inc., its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	by
	 	/s/ Thomas E. Galuhn	 	 
	 

	 	 	 	 

Name: Thomas E. Galuhn
	 	 
	 

	 	 	 	Title: Sr. Managing Director	 	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 	 	 
	 	 	MESIROW CAPITAL PARTNERS VIII, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	by
	 	Mesirow Financial Services, Inc., its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	by
	 	/s/ Thomas E. Galuhn	 	 
	 

	 	 	 	 

Name: Thomas E. Galuhn
	 	 
	 

	 	 	 	Title: Sr. Managing Director	 	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 
	 	TRIMAS INVESTMENT FUND I, L.L.C.

 	 
	 	By:  	/s/ [Illegible]	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 
	 	TRIMAS INVESTMENT FUND I, L.L.C.

 	 
	 	By:  	/s/ [Illegible]	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 
	 	

MASCO CAPITAL CORPORATION

 	 
	 	By:  	/s/ Peter A. Dow
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 
	 	CRAIG MANCHEN

 	 
	 	By:  	/s/Craig Manchen
 	 
	 	 	Name:	 	 
	 	 	Title:	 Shareholder 	 
	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 
	 	GE CAPITAL EQUITY INVESTMENTS, INC.

 	 
	 	By:  	/s/ [Illegible]	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 
	 	METALDYNE INVESTMENT FUND I, LLC

 	 
	 	By:  	/s/ [Illegible]	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 
	 	METALDYNE INVESTMENT FUND II, LLC

 	 
	 	By:  	/s/ [Illegible]	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 	 	 
	 	 	CREDIT SUISSE FIRST BOSTON EQUITY PARTNERS, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Hemisphere Private Equity Partners, Ltd., Its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/Kenneth Lohsen	 	 
	 

	 	 	 	 

Name:   Kenneth Lohsen
	 	 
	 

	 	 	 	Title: Attorney-in-Fact	 	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 	 	 
	 	 	CREDIT SUISSE FIRST BSTON EQUITY PARTNERS (BERMUDA), L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Hemisphere Private Equity Partners, Ltd., Its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/Kenneth Lohsen	 	 
	 

	 	 	 	 

Name:   Kenneth Lohsen
	 	 
	 

	 	 	 	Title: Attorney-in-Fact	 	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 	 	 	 	 
	 	 	CREDIT SUISSE FIRST BOSTON FUND INVESTMENTS VI HOLDINGS, LLC	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	Credit Suisse First Boston Fund Investments VI, L.P., Its Managing Member	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	Credit Suisse First Boston Fund Investments VI — Side Partnership, L.P., Its Managing Member	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	Credit Suisse First Boston fund Investments VI (Bermuda), L.P., Its Managing Member	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	Merchant Capital, Inc., the General Partner of the foregoing entities	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/Kenneth Lohsen	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	Kenneth Lohsen	 	 
	 

	 	 	 	Title:
	 	Vice President	 	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 	 	 
	 	 	CREDIT SUISSE FIRST BOSTON FUND INVESTMENTS VI-B (BERMUDA), L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Merchant Capital, Inc., Its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/Kenneth Lohsen	 	 
	 

	 	 	 	 

Name:  Kenneth Lohsen
	 	 
	 

	 	 	 	Title:    Vice President	 	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 	 	 
	 	 	CREDIT SUISSE FIRST BOSTON U.S. EXECUTIVE ADVISORS, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Hemisphere Private Equity Partners, Ltd., Its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Kenneth Lohsen	 	 
	 

	 	 	 	 

Name:  Kenneth Lohsen
	 	 
	 

	 	 	 	Title:    Attorney-in-Fact	 	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 
	 	MASCO CORPORATION

 	 
	 	By:  	/s/Peter A. Dow
 	 
	 	 	Name:  	Peter A. Dow 	 
	 	 	Title:  	 	 
	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 
	 	RICHARD AND JANE MANOOGIAN FOUNDATION

 	 
	 	By:  	

/s/Richard A. Manoogian
 	 
	 	 	Name:  	Richard A. Manoogian 	 
	 	 	Title:  	President and Treasurer 	 
	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 
	 	RICHARD MANOOGIAN

 	 
	 	By:  	/s/Richard A. Manoogian
 	 
	 	 	Name:  	Richard A. Manoogian 	 
	 	 	Title:  	 	 
	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 
	 	WACHOVIA CAPITAL PARTNERS 2000, LLC

(formerly First Union Capital Partners, LLC)

 	 
	 	By:  	/s/
[Illegible]	 
	 	 	Name:  	 	 
	 	 	Title:  	Vice President 	 
	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 
	 	BANCBOSTON CAPITAL INC.

 	 
	 	By:  	/s/ [Illegible]	 
	 	 	Name:  	 	 
	 	 	Title:  	Vice President 	 
	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 
	 	METROPOLITAN LIFE INSURANCE COMPANY

 	 
	 	By:  	/s/Christopher Farrington
 	 
	 	 	Name:  	Christopher Farrington 	 
	 	 	Title:  	Director 	 
	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 
	 	EQUITY ASSET INVESTMENT TRUST

 	 
	 	By:  	/s/ [Illegible]	 
	 	 	Name: 	 	 
	 	 	Title:	Attorney-in-Fact 	 
	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 	 	 
	 	 	ANNEX HOLDINGS I LP	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Annex Capital Partners LLC, its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/Alexander P. Coleman	 	 
	 

	 	Name:
	 	 

Alexander P. Coleman
	 	 
	 

	 	Title:
	 	MANAGING MEMBER OF THE GENERAL PARTNER	 	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 
	 	LONGPOINT CAPITAL FUND, L.P.

 	 
	 	By:  	/s/ Gerard Boylan
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 
	 	LONGPOINT CAPITAL PARTNERS, L.L.C.

 	 
	 	By:  	/s/Gerard Boylan
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 	 	 
	 	 	EMA PARTNERS FUND 2000, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Credit Suisse (Bermuda) Limited, Its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/Kenneth Lohsen	 	 
	 

	 	Name:
	 	 

Kenneth Lohsen
	 	 
	 

	 	Title:
	 	Vice President	 	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 	 	 
	 	 	EMA PARTNERS EQUITY FUND 2000, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Credit Suisse (Bermuda) Limited, Its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/Kenneth Lohsen	 	 
	 

	 	Name:
	 	 

Kenneth Lohsen
	 	 
	 

	 	Title:
	 	Vice President	 	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 	 	 	 	 
	 	 	75 WALL STREET ASSOCIATES LLC	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	Allianz Leben Private Equity Funds Plus GmbH	 	 
	 

	 	Its:
	 	Members	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:
	 	/s/Wancfing Aug
	 	Claus Zeilner	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name: Wancfing Aug
	 	Claus Zeilner	 	 
	 

	 	 	 	Title:   Managing Director
	 	Director	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	Alliance Private Equity Partners, Inc.	 	 
	 

	 	Its:
	 	Adviser	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:
	 	/s/Arthur Ebersole
	 	Brian Welker	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name: Arthur Ebersole
	 	Brian Welker	 	 
	 

	 	 	 	Title:   Vice President
	 	Vice President	 	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 	 	 
	 	 	GRAHAM PARTNERS INVESTMENTS, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	GRAHAM PARTNERS GENERAL PARTNER, L.P.	 	 
	 

	 	Its:
	 	General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	GRAHAM PARTNERS INVESTMENTS (GP2), L.P.	 	 
	 

	 	Its:
	 	General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	GRAHAM PARTNERS INVESTMENTS (GP), LLC	 	 
	 

	 	Its:
	 	General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/Steven C. Graham	 	 
	 

	 	 	 	 

Name:  Steven C. Graham
	 	 
	 

	 	 	 	Title:    Managing Member	 	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 	 	 
	 	 	GRAHAM PARTNERS INVESTMENTS (A), L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	GRAHAM PARTNERS GENERAL PARTNER, L.P.	 	 
	 

	 	Its:
	 	General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	GRAHAM PARTNERS INVESTMENTS (GP2), L.P.	 	 
	 

	 	Its:
	 	General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	GRAHAM PARTNERS INVESTMENTS (GP), LLC	 	 
	 

	 	Its:
	 	General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/Steven C. Graham	 	 
	 

	 	 	 	 

Name:  Steven C. Graham
	 	 
	 

	 	 	 	Title:    Managing Member	 	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 
	 	PRIVATE EQUITY PORTFOLIO FUND II, LLC

 	 
	 	By:  	/s/Matthew J. Ahern
 	 
	 	 	Name:  	Matthew J. Ahern 	 
	 	 	Title:  	Vice President 	 
	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 
	 	CRM 1999 ENTERPRISE FUND, LLC

 	 
	 	By:  	/s/Carlos Leal
 	 
	 	 	Name:  	Carlos Leal 	 
	 	 	Title:  	CFO of Managing Member 	 
	 

Amendment to TriMas Shareholders Agreement

 

 

	 	 	 	 	 	 	 
	 

	 	HEARTLAND INDUSTRIAL PARTNERS, L.P.
	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Heartland Industrial Associates L.L.C., its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/Daniel P. Tredwell	 	 
	 

	 	 	 	 

Name:    Daniel P. Tredwell
	 	 
	 

	 	 	 	Title:	 	 

Amendment to TriMas Shareholders Agreement

 

 

EXHIBIT A

JOINDER AGREEMENT

     WHEREAS, the undersigned is acquiring simultaneously with the execution of this Agreement
common stock (the “Common Stock”), par value $0.01 per share of TriMas Corporation (the “Company”);
and

     WHEREAS, as a condition to the acquisition of the Common Stock, the undersigned has agreed to
join in a certain Shareholders Agreement (the “Shareholders Agreement”) dated as of June 6, 2002
and amended and restated as of July 19, 2002 among TriMas Corporation and the Shareholders (as such
term is defined in the Shareholders Agreement); and

     WHEREAS, the undersigned understands that execution of this Agreement is a condition precedent
to the acquisition of the Common Stock;

     NOW, THEREFORE, as an inducement to both the transferor of the Common Stock and the other
Shareholders (as such term is defined in the Shareholders Agreement), to Transfer (as such term is
defined in the Shareholders Agreement) and to allow the Transfer of the Common Stock to the
undersigned, the undersigned agrees as follows:

	 	1.	 	The undersigned hereby joins in the Shareholders Agreement and agrees to be
bound by the terms and provisions of the Shareholders Agreement as provided by the
Shareholders Agreement.
	 
	 	2.	 	The undersigned hereby consents that the certificate or certificates to be
issued to the undersigned representing the Common Stock shall be legended as follows:
	 
	 	 	 	“THE SERCUITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE OFFERED OR SOLD EXCEPT
PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED, OR (ii) AN APPLICABLE EXEMPTION FROM
REGISTRATION THEREUNDER. ANY SALE PURSUANT TO CLAUSE (ii) OF THE PRECEDING SENTENCE
MUST BE ACCOMPANIED BY AN OPINION OF COUNSEL REASONABLY SATISFCTORY TO THE COMPANY
TO THE EFFECT THAT SUCH EXEMPTION FROM REGISTRATION IS AVAILABLE IN CONNECTION WITH
SUCH SALE.
	 
	 	 	 	THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE ALSO SUBJECT TO THE TERMS AND
CONDITIONS, INCLUDING WITH RESPECT TO THE DIRECT OR INDIRECT TRANSFER THEREOF, OF A

 

 

	 	 	 	SHAREHOLDERS AGREEMENT DATED AS OF JUNE 6, 2002, AS AMENDED AND RESTATED AS OF JULY
19, 2002. THE SHAREHOLDERS AGREEMENT CONTAINS, AMONG OTHER THINGS, SIGNIFICANT
RESTRICTIONS ON TRANSFER OF THE SECURITIES OF THE COMPANY. A COPY OF THE
SHAREHOLSERS AGREEMENT IS AVAILABLE UPON REQUEST FROM THE COMPANY.”

     INWITNESS
WHEREOF, the undersigned has executed this Agreement this                      day of                     , 20             .

	 	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 
	 

	 	Address:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}]]