Document:

Second Amendment to Loan Agreement

 Exhibit 10.71 
  
 SECOND AMENDMENT TO 
 LOAN AND SECURITY AGREEMENT,

 LIMITED WAIVER, AND CONSENT 
  
 This SECOND AMENDMENT TO LOAN AND SECURITY AGREEMENT, LIMITED WAIVER, AND CONSENT (this “Amendment”), dated June 30, 2004, by and among LASALLE
BUSINESS CREDIT, LLC, a Delaware limited liability company (“LaSalle”), with its principal office at 135 South LaSalle Street, Chicago, Illinois 60603, the financial institutions that, from time to time, become
a party to the Loan Agreement (hereinafter defined) (such financial institutions, collectively, the “Lenders” and each individually, a “Lender”), LaSalle as agent for the Lenders (in such capacity, the
“Agent”), and IMPCO TECHNOLOGIES, INC., a Delaware corporation, with its principal office at 16804 Gridley Place, Cerritos, California 90703 (the “Borrower”). 
  
 WHEREAS, the Borrower and LaSalle as a Lender and the Agent, are parties to a Loan and
Security Agreement dated as of July 18, 2003 (as amended, restated, supplemented, or otherwise modified from time to time, the “Loan Agreement”), pursuant to which the Lenders have agreed, upon satisfaction of certain conditions, to
make Revolving Advances and other financial accommodations to the Borrower in the aggregate principal amount not to exceed $12,000,000; 
  
 WHEREAS, the Borrower has advised the Lenders and the Agent that as of April 30, 2004, it will not be in compliance with the financial covenant contained in
Paragraph 14(v) of the Loan Agreement, due to the Borrower’s intercompany account with IMPCO Technologies Japan, KK exceeding the $500,000 limitation set forth therein (the “Financial Covenant Non-Compliance”); and

  
 WHEREAS, the Borrower has requested that the Lenders and the Agent agree
to: (a) waive the Financial Covenant Non-Compliance; (b) consent to the purchase by the Borrower of an additional 1% ownership interest in B.R.C. Societa a Responsablità Limitata, an Italian limited liability company; and (c) amend the Loan
Agreement in certain respects, and the Lenders and the Agent are willing to so agree to waive the Financial Covenant Non-Compliance, consent to the proposed purchase, and amend the Loan Agreement, all on the terms and subject to the conditions
hereinafter set forth; 
  
 NOW THEREFORE, the parties hereto agree as
follows: 
  
 1.    Waiver. 
  
 (a)    Effective as of the Effective Date, the Lenders and the
Agent hereby waive the Financial Covenant Non-Compliance. 
  

 1 

 (b)    The waiver granted herein is given solely for the specific purpose and solely in respect
of compliance by the Borrower with the Financial Covenants set forth in Paragraph 14(v) of the Loan Agreement, as of April 30, 2004. Nothing contained in this Agreement constitutes a waiver by the Lenders or the Agent of any other term or
provision of the Loan Agreement or the Other Documents, whether or not the Lenders or the Agent have any knowledge thereof, nor may anything contained in this Agreement be deemed a waiver by the Lenders or the Agent of any non-compliance with the
terms or provisions of the Loan Agreement or the Other Agreements that may occur after the date of this Amendment. 
  
 2.    Consent. Notwithstanding anything to the contrary contained in the Loan Agreement, the Agent and the Lenders hereby consent to the
BRC 1% Purchase. 
  
 3.    Amendments to Loan
Agreement. Effective upon the Effective Date (as hereinafter defined), the Loan Agreement is hereby amended as follows: 
  
 (a)    The following new definitions are hereby added to Paragraph 1(a) of the Loan Agreement in alphabetical order to read as follows:

  
 “    ‘BRC 1% Purchase’ means
the purchase, on or after June 30, 2004, of 1% of the then-currently outstanding equity of BRC, on the terms and conditions set forth below: 
  
 (a)    prior to and after giving effect to such purchase, there is then no Default or Event of Default; 
  
 (b)    the total purchase price does not exceed
$500,000; 
  
 (c)    no more than
$100,000 of the purchase price may be paid in cash and the remainder of the purchase price shall be evidenced by a promissory note to be subordinated to the Liabilities and, if applicable, the Liens in favor of the Agent; 
  
 (d)    all of the documents evidencing the
purchase and the subordination of the promissory note must be in form and substance satisfactory to the Agent; and 
  
 (e)    the terms and conditions of the purchase are otherwise satisfactory in all respects to the Agent in its reasonable
business judgment.” 
  
 “    ‘U.S.
Consolidated Group’ means, on a consolidated basis, Borrower and             .” 
  
 “    ‘U.S. Fixed Charge Coverage Ratio’ means and includes, with respect to any applicable fiscal period, the ratio of:
(a) EBITDA for the U.S. Consolidated Group, minus non-financed Capital Expenditures made during 

  

 2 

 
such period by any member of the U.S. Consolidated Group, minus cash taxes actually paid during such period with respect to the U.S. Consolidated Group; to (b)
the sum of: (i) scheduled principal payments of long-term debt paid or scheduled to be paid during such period by any member of the U.S. Consolidated Group, plus (ii) capitalized leases paid or scheduled to be paid during such period by any
member of the U.S. Consolidated Group, plus (iii) cash interest expense of the U.S. Consolidated Group for such period, plus (iv) payments made to the Subordinated Lender, plus (v) payments made to the Bridge Loan Lenders.”

  
 “‘U.S. Leverage Ratio’ as at the last day of any
period of four (4) consecutive fiscal quarters, the ratio of: (a) Indebtedness of the U.S. Consolidated Group on such day; to (b) EBITDA for the U.S. Consolidated Group for such period.” 
  
 (b)    The definition of “Consolidated
Subsidiaries” contained in Paragraph 1(a) of the Loan Agreement is hereby amended by adding, at its conclusion, the phrase “and, after the consummation of the BRC 1% Purchase and the fulfillment of all requirements under GAAP
for the inclusion of BRC on the consolidated financial statements of Borrower, BRC”. 
  
 (c)    The definition of “Indebtedness” contained in Paragraph 1(a) of the Loan Agreement is hereby amended by adding, at its conclusion, the phrase “or paragraph 14(x)”.

  
 (d)    Paragraph 1(b) of the Loan Agreement
is hereby amended by inserting the phrase “and paragraph 14(x)” after the phrase “paragraph 14(p)”. 
  
 (e)    Paragraph 14(h) of the Loan Agreement is hereby amended by adding a new subsection (i)(v) immediately after the clause
“Borrower shall not: (i) incur, create, assume or suffer to exist any Indebtedness other than:” to read as follows: 
  
 “(v)    Indebtedness incurred in connection with the BRC 1% Purchase;” 
  
 (f)    Paragraph 14(i) of the Loan Agreement is hereby amended by deleting the phrase “(and Borrower
shall not cause BRC to become a Subsidiary)” and replacing it with the phrase “(except that Borrower may cause BRC to become a Subsidiary by virtue of the BRC 1% Purchase)” and by deleting the phrase “(other than BRC the creation
as a Subsidiary is prohibited)”. 
  
 (g)    Paragraph 14(p)(ii) of the Loan Agreement is hereby amended and restated in its entirety to read as follows: 
  
 “    (ii) Minimum Consolidated EBITDA. Borrower shall maintain and cause the Consolidated Group to maintain, Consolidated EBITDA for
the second 

  

 3 

 
fiscal quarter in 2004 of $4,800,000, and Consolidated EBITDA for the third fiscal quarter in 2004 of $6,350,000, in each case, measured on a year-to-date basis. In
addition, Borrower shall maintain and cause the Consolidated Group to maintain, as of the end of each fiscal quarter of Borrower, Consolidated EBITDA, of not less than the amount set forth below opposite each such fiscal quarter, with respect to the
period of four (4) consecutive fiscal quarters of the Consolidated Group ending on each such fiscal quarter: 
  

			
	 Fiscal Quarter

	 	 Minimum Consolidated EBITDA

	 FQ4 2004
	 	$7,525,000
	 FQ1 2005
	 	  8,000,000
	 FQ2 2005
	 	  8,760,000
	 FQ3 2005
	 	10,430,000
	 FQ4 2005
	 	12,000,000
	 FQ1 2006
	 	12,250,000
	 FQ2 2006
	 	12,500,000
	 FQ3 2006
	 	12,750,000”

  
 (h)    Paragraph 14(p)(iii) of the Loan Agreement is hereby amended and restated in its entirety to read as follows: 
  
 “    (iii) Fixed Charge Coverage Ratio. Borrower shall maintain and cause the Consolidated Group to maintain, as of the end of each
fiscal quarter of Borrower, a Fixed Charge Coverage Ratio, of not less than the ratio set forth below opposite each such fiscal quarter, with respect to the period of four (4) consecutive fiscal quarters of the Consolidated Group ending on each such
fiscal quarter; provided, however, that all calculations used in determining the Fixed Charge Coverage Ratio for the second and third fiscal quarters in 2004 shall be measured on a year-to-date basis: 
  

			
	 Fiscal Quarter

	 	 Fixed Charge Coverage Ratio

	 FQ2 2004
	 	1.00 : 1.00
	 FQ3 2004
	 	1.00 : 1.00
	 FQ4 2004
	 	1.00 : 1.00
	 FQ1 2005
	 	1.00 : 1.00
	 FQ2 2005
	 	1.25 : 1.00
	 FQ3 2005
	 	1.65 : 1.00
	 FQ4 2005
	 	1.95 : 1.00
	 FQ1 2006
	 	1.90 : 1.00
	 FQ2 2006
	 	1.90 : 1.00
	 FQ3 2006
	 	2.00 : 1.00”

  

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 (i)    Paragraph 14(p)(iv) of the Loan Agreement is hereby amended and restated in its
entirety to read as follows: 
  
 “        (iv) Consolidated Leverage Ratio. Borrower shall not permit or cause the Consolidated Leverage Ratio at any time during or as of the end of a fiscal quarter of Borrower to exceed
the ratio set forth below opposite each such fiscal quarter: 
  

			
	 Fiscal Quarter

	 	 Consolidated Leverage Ratio

	 FQ2 2004
	 	10.50 : 1.00
	 FQ3 2004
	 	 6.40 : 1.00

	 FQ4 2004
	 	 4.10 : 1.00

	 FQ1 2005
	 	 3.95 : 1.00

	 FQ2 2005
	 	 3.70 : 1.00

	 FQ3 2005
	 	 3.10 : 1.00

	 FQ4 2005
	 	 2.65 : 1.00

	 FQ1 2006
	 	 2.70 : 1.00

	 FQ2 2006
	 	 2.70 : 1.00

	 FQ3 2006
	 	 2.70 : 1.00

  
 (j)    Paragraph 14(p)(v) of the Loan Agreement is hereby amended by adding “B.R.C. Societa a Responsablità Limitata” at the end of the list under the heading “Subsidiary” and by adding
“$1,000,000” at the end of the list under the heading “Permitted Credit”. 
  

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 (k)    A new Paragraph 14(x) is hereby added to the Loan Agreement to read in its
entirety as follows: 
  
     (x) Borrower shall
maintain and keep in full force and effect and cause to be maintained and kept in full force and effect, each of the financial covenants set forth below. The calculation and determination of each such financial covenant, and all accounting terms
contained therein, shall be so calculated and construed in accordance with GAAP, for the U.S. Consolidated Group and applied on a basis consistent with the financial statements of Borrower with respect to itself and its Subsidiaries delivered on or
before the Closing Date to Agent: 
  
 (i)    Tangible Net Worth. Borrower shall cause the U.S. Consolidated Group to maintain, as of the end of each fiscal quarter, Tangible Net Worth of not less than the respective amount set forth below opposite
each such fiscal quarter: 
  

			
	 Fiscal Quarter

	 	 Minimum Tangible Net Worth

	 FQ2 2004
	 	$15,500,000
	 FQ3 2004
	 	 15,500,000

	 FQ4 2004
	 	 16,000,000

	 FQ1 2005
	 	 16,500,000

	 FQ2 2005
	 	 16,000,000

	 FQ3 2005
	 	 16,500,000

	 FQ4 2005
	 	 17,000,000

	 FQ1 2006
	 	 17,500,000

	 FQ2 2006
	 	 17,500,000

	 FQ3 2006
	 	 18,000,000

  

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 (ii)     Minimum  EBITDA. Borrower shall cause the U.S.
Consolidated Group to maintain EBITDA for the second fiscal quarter of Borrower in 2004 of $3,465,000, and, for the third fiscal quarter of Borrower in 2004 of $4,630,000, in each case, measured on a year-to-date basis. In addition, Borrower shall
cause the U.S. Consolidated Group to maintain, as of the end of each fiscal quarter of Borrower, EBITDA, of not less than the amount set forth below opposite each such fiscal quarter, with respect to the period of four (4) consecutive fiscal
quarters of Borrower ending on each such fiscal quarter: 
  

			
	 Fiscal Quarter

	 	 Minimum EBITDA

	 FQ4 2004
	 	$5,650,000
	 FQ1 2005
	 	 5,925,000

	 FQ2 2005
	 	 5,585,000

	 FQ3 2005
	 	 6,175,000

	 FQ4 2005
	 	 6,870,000

	 FQ1 2006
	 	 7,080,000

	 FQ2 2006
	 	 7,270,000

	 FQ3 2006
	 	 7,510,000

  
 (iii)    U.S Fixed Charge Coverage Ratio. Borrower shall cause the U.S. Consolidated Group to maintain, as of the end of each fiscal quarter of Borrower, a U.S. Fixed Charge Coverage Ratio, of not less than the
ratio set forth below opposite each such fiscal quarter, with respect to the period of four (4) consecutive fiscal quarters of Borrower ending on each such fiscal quarter; provided, however, that all calculations used in determining
the U.S. Fixed Charge Coverage Ratio for the second and third fiscal quarters in 2004 shall be measured on a year-to-date basis: 
  

			
	 Fiscal Quarter

	 	 U.S. Fixed Charge Coverage Ratio

	 FQ2 2004
	 	1.10 : 1.00
	 FQ3 2004
	 	1.00 : 1.00
	 FQ4 2004
	 	1.00 : 1.00
	 FQ1 2005
	 	1.00 : 1.00
	 FQ2 2005
	 	1.00 : 1.00
	 FQ3 2005
	 	1.00 : 1.00
	 FQ4 2005
	 	1.10 : 1.00
	 FQ1 2006
	 	1.15 : 1.00
	 FQ2 2006
	 	1.20 : 1.00
	 FQ3 2006
	 	1.25 : 1.00

  

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 (iv)    U.S. Leverage Ratio. Borrower shall not permit or cause the U.S. Leverage Ratio
at any time during or as of the end of a fiscal quarter of Borrower to exceed the ratio set forth below opposite such fiscal quarter: 
  

			
	 Fiscal Quarter

	 	 U.S. Leverage Ratio

	 FQ2 2004
	 	18.60 : 1.00
	 FQ3 2004
	 	10.25 : 1.00
	 FQ4 2004
	 	  5.45 : 1.00
	 FQ1 2005
	 	  5.35 : 1.00
	 FQ2 2005
	 	  5.75 : 1.00
	 FQ3 2005
	 	  5.20 : 1.00
	 FQ4 2005
	 	  4.60 : 1.00
	 FQ1 2006
	 	  4.50 : 1.00
	 FQ2 2006
	 	  4.40 : 1.00
	 FQ3 2006
	 	  4.20 : 1.00

  
 (l)    Exhibit D attached to the Loan Agreement is hereby amended by inserting the phrase “and paragraph 14(x)” after the phrase “paragraph 14(p)”. 
  
 4.    Additional Reporting. Pursuant to Paragraph
11(j) of the Loan Agreement, the Agent hereby requests that the Borrower provide to the Agent, together with each of the reports required to be submitted to the Agent under Paragraphs 11(b), (c), and (e), a detailed listing
of the Borrower’s and the Consolidated Group’s year-to-date and monthly interest expense, segregated by cash interest expenses and interest expense payments in kind, and the Borrower hereby covenants to provide such additional reports.

  
 5.    Deposit Accounts. The Borrower hereby
covenants that, within twenty (20) days of the date of this Amendment, it will cause all of its cash deposit accounts to be maintained with LaSalle Bank, subject to a deposit account control agreement in form and substance satisfactory to the Agent,
provided that the Borrower may maintain cash deposit accounts with other financial institutions so long as the aggregate amount of all deposits in such accounts does not exceed $50,000 at any time. 
  
 6.    Waiver, Consent, and Amendment Fee. In consideration
for the accommodations granted by the Agent herein and in addition to all other fees and costs, the Borrower hereby agrees to pay to the Agent a nonrefundable fee equal to Fifty Thousand Dollars ($50,000), which fee will be fully earned, due, and
payable as of the date of this Amendment (the “Amendment Fee”). 
  
 7.    Acknowledgments and Confirmations. The Borrower, the Lenders, and the Agent hereby acknowledge and confirm that as of the Effective Date: (i) all references in the Loan Agreement to “this
Agreement” will be deemed to refer to the Loan Agreement, as amended by this Amendment; and (ii) all references 

  

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in each of the Other Agreements to the “Loan Agreement” will be deemed to refer to the Loan Agreement, as amended by this Amendment. 
  
 8.    Representations and Warranties. The Borrower hereby
represents and warrants to the Lenders and the Agent, that: 
  
 (a)    Each of the representations and warranties set forth in Paragraph 13 of the Loan Agreement is true in all material respects as of the date hereof, except for changes in the ordinary course of business,
that, either singly or in the aggregate, are not materially adverse to the business or financial condition of the Borrower or to the Collateral. 
  
 (b)    As of the date hereof, after giving effect to the terms of this Agreement, there exists no Default or Event of Default. 
  
 (c)    The Borrower has the power to execute, deliver, and perform
this Amendment and all agreements, instruments, and documents executed in connection herewith (this Amendment and such other agreements, instruments, are documents are sometimes hereinafter referred to collectively as the “Amendment
Documents”). The Borrower has taken all necessary action to authorize the execution, delivery, and performance of this Amendment and the other Amendment Documents. No consent or approval of any entity or Person (including without
limitation, any shareholder of the Borrower), no consent or approval of any landlord or mortgagee, no waiver of any Lien or right of distraint or other similar right, and no consent, license, approval, authorization, or declaration of any
governmental authority, bureau, or agency is required in connection with the execution, delivery, or performance by the Borrower, or the validity or enforcement, of this Amendment or the other Amendment Documents. 
  
 (d)    The execution and delivery by the Borrower of this Amendment
and the other Amendment Documents and performance by it hereunder and thereunder, will not violate any provision of law and will not conflict with or result in a breach of any order, writ, injunction, ordinance, resolution, decree, or other similar
document or instrument of any court or governmental authority, bureau, or agency, domestic or foreign, or the certificate of incorporation or by-laws of the Borrower, or create (with or without the giving of notice or lapse of time, or both) a
default under or breach of any agreement, bond, note, or indenture to which the Borrower is a party, or by which it is bound or any of its properties or assets is affected (including without limitation, the Subordinated Debt Documents), or result in
the imposition of any Lien of any nature whatsoever upon any of the properties or assets owned by or used in connection with the business of the Borrower, other than the Liens contemplated by this Amendment. 
  

 9 

 (e)    This Amendment and the other Amendment Documents have been duly executed and delivered
by the Borrower and constitute the valid and legally binding obligation of the Borrower, enforceable in accordance with their respective terms. 
  
 9.    Conditions to Effectiveness of Amendment and Waiver. The effectiveness of the amendments, consent, and waiver contained in this
Amendment, is subject to the fulfillment (to the satisfaction of the Agent and the Lenders) of the following conditions precedent (the date upon which conditions are satisfied to the satisfaction of the Agent and the Lenders, the “Effective
Date”): 
  
 (a)    Each of the Borrower, the
Agent, and Bison Capital Structured Equity Partners, LLC has executed this Amendment and the same has been delivered to the Agent; 
  
 (b)    The Borrower has delivered to Agent a copy of a waiver from Bison Capital Structured Equity Partners, LLC, which waiver shall be in form
and substance satisfactory to the Lenders and the Agent. 
  
 (c)    The Borrower has delivered to the Agent a certificate of an Executive Officer, certifying as to resolutions of the Board of Directors of the Borrower authorizing the execution, delivery, and performance of this
Amendment, all agreements, instruments, and documents executed in connection therewith and the transactions contemplated hereby and thereby. 
  
 (d)    The Borrower has executed and delivered to the Agent all agreements, instruments, and documents reasonably requested by the Agent in
connection with this Amendment. 
  
 (e)    All legal
matters incident to this Amendment are reasonably satisfactory to the Lenders, the Agent, and their counsel. 
  
 (f)    The Borrower has paid the Amendment Fee to the Agent. 
  
 10.    Further Assurances. The Borrower agrees that it will, from time to time, execute and/or deliver all
agreements, instruments, and documents and do and perform all actions and things (all at the Borrower’s sole expense) as the Agent may reasonably request to carry out the intent and terms of this Amendment. 
  
 11.    Release of the Borrower’s Claims. 
  
 (a)    The Borrower and its legal representatives, successors, and
assigns, agree to and hereby do RELEASE, ACQUIT, and FOREVER DISCHARGE, the Lenders and the Agent (including without limitation, all affiliated entities, 

  

 10 

 
divisions, subsidiaries, direct and indirect parent corporations, and holding companies) and their respective officers, directors, shareholders, employees, trustees,
substitute trustees, agents, and attorneys, past and present (the “Indemnified Lender Parties”), from all of Borrower’s Claims, as defined in Section 11(b) below. 
  
 (b)    As used in Section 11(a) above, the term “Borrower’s Claims” means any and all
possible claims, disputes, obligations, demands, actions, causes of action, costs, expenses, and liabilities whatsoever, known or unknown, at law or in equity, to the extent originating on or before the date hereof, that the Borrower may now or
hereafter have against the Lenders or the Agent or any of the other Indemnified Lender Parties, if any, and irrespective of whether any such Borrower’s Claims arise out of contract, tort, violation of laws or regulations, or otherwise, that
arise out of, are connected with, related to, or concern in any way any of this Amendment, the Loan Agreement, or the Other Agreements (or the transactions contemplated hereby or thereby) or the Collateral, or that arise out of, are connected with,
related to, or concern in any way, any action, inaction, performance, non-performance, representation, transaction, or occurrence involving or in any way related to this Amendment, the Loan Agreement, or the Other Agreements (or the transactions
contemplated thereby) or the Collateral. 
  
 (c)    The
Borrower intends the above release to cover, encompass, release, and extinguish, inter alia, all claims, demands, and causes of action that might otherwise be reserved by California Civil Code Section 1542 or any similar provision of New York
law. California Civil Code Section 1542 provides as follows: 
  
 “A
general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.” 

 
 12.    Miscellaneous. 
  
 (a)    The Borrower’s breach of any of its covenants contained
in this Amendment will constitute an Event of Default. 
  
 (b)    Nothing contained in this Agreement imposes an obligation on the Lenders or the Agent to further amend the Loan Agreement or waive compliance with any other provision. 
  
 (c)    Except as set forth in this Amendment, none of the Lenders
nor the Agent waive any breach of, or Default or Event of Default under, the Loan Agreement, nor any right or remedy the Lenders or the Agent may have under the Loan Agreements, the Other Agreements, or applicable law, all of which rights and
remedies are expressly reserved. 
  

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 (d)    Except as specifically amended in this Amendment, the Loan Agreement and the Other
Agreements remain in full force and effect in accordance with their respective terms. 
  
 (e)    No modification or waiver of or with respect to any provision of this Amendment and all other agreements, instruments, and documents delivered pursuant hereto or referred to herein, nor consent to any
departure by any party hereto or thereto from any of the terms or conditions hereof or thereof, will in any event be effective, unless it is in writing and signed by each party hereto, and then such waiver or consent will be effective only in the
specific instance and for the purpose for which given. 
  
 (f)    This Amendment, together with all of the other agreements, instruments, and documents referred to herein, embodies the entire agreement and understanding among the parties hereto with respect to the subject matter
hereof and thereof and supersedes all prior agreements and understandings relating to the subject matter hereof. 
  
 (g)    Without in any way limiting Paragraph 14(r) of the Loan Agreement, the Borrower shall pay all of the Lenders’ and the Agent’s
fees, costs, and expenses incurred in connection with this Amendment and the transactions contemplated hereby, including without limitation, the Lenders’ and the Agent’s legal fees and expenses incurred in connection with the preparation,
negotiation, consummation, and, if required, the enforcement, of this Amendment and the other Amendment Documents. 
  
 (h)    This Amendment may be signed in any number of counterparts with the same effect as if the signatures thereto and hereto were upon the
same instrument. 
  
 (i)    EACH OF THE PARTIES TO THIS
AMENDMENT HEREBY WAIVE ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING THAT PERTAINS DIRECTLY OR INDIRECTLY TO THIS AMENDMENT, ANY OF THE OTHER AGREEMENTS, THE LIABILITIES, THE COLLATERAL, ANY ALLEGED TORTIOUS CONDUCT OF THE BORROWER, THE
AGENT, OR THE LENDERS OR THAT, IN ANY WAY, DIRECTLY OR INDIRECTLY, ARISES OUT OF OR RELATES TO THE RELATIONSHIP AMONG THE BORROWER, THE AGENT, AND/OR THE LENDERS. IN NO EVENT WILL THE AGENT OR ANY LENDER BE LIABLE FOR LOST PROFITS OR OTHER SPECIAL
OR CONSEQUENTIAL DAMAGES. 
  
 (j)    This Amendment is
governed by and must be construed in accordance with the applicable law pertaining in the State of New York, other than those conflict of law provisions that would defer to the substantive laws of another jurisdiction. 
  

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 IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment as of the date first above set
forth. 
  

			
	LASALLE BUSINESS CREDIT, LLC, as a Lender and as Agent
		
	 By:
	 	/s/    THOMAS P. BETOURNAY        
	 Name:
 Title:    Vice
President

  

			
	IMPCO TECHNOLOGIES, INC., as Borrower
		
	 By:
	 	/s/    NICKOLAI A. GERDE        
	 Name:
 Title:    VP &
CFO

  

			
	 CONSENTED TO:
  
 BISON CAPITAL STRUCTURED EQUITY PARTNERS, LLC

		
	By:	 	/s/    DOUGLAS TRUSSLER        
	 Name:
 Title:    Executive
VP

  

 13Service Contract between Mayne Group Limited and Neil Rodaway

  
 Exhibit 4.20

  
 Private & Confidential 
  
 17 December 2003 
  
 Mr Neil Rodaway 
 General Manager Asset
Management 
 Mayne Group Limited 
 390 St Kilda Road 

MELBOURNE VIC 3004 
  
 Dear Neil, 
  
 It is with pleasure that I offer
you appointment to the position of Group General Manager Diagnostic Services, under the following terms and conditions. You will report to the Group Managing Director & CEO and you will be located in Melbourne. 
  
 Employer 
  
 Your contract of employment is with Mayne Group Limited ABN 56 004 073 410 (Mayne). As an employee of Mayne, you may be required to provide
services to any company in the Mayne Group, and all entities which are subsidiaries of Mayne. 
  
 Contract Terms 
  
 This contract shall
take effect from 1 January 2004 and will supersede in its entirety your current employment contract and arrangements, which shall be deemed to have terminated by mutual consent as from 31 December 2003. However, for the purposes of service-related
benefits of employment, your service with Mayne will be regarded as continuous from the 2 November 1992, the date you initially commenced employment with the Group or a related company. 
  
 Duties 
  
 Your specific duties and responsibilities in this position are as outlined in the attached position description. You may, however, be required to undertake other duties
and responsibilities from time to time in addition to or as variations of the duties and responsibilities of the position. As a consequence, or for other reasons, your reporting responsibility and/or position title may also be altered from time to
time. In this event, your remuneration and other benefits under this contract will not be altered without your consent, except to the extent that this contract permits. 
  
 Remuneration 
  
 Your remuneration will be made up of a total employment cost (TEC) at the rate of $420,000p.a., inclusive of salary, Superannuation and benefits you may wish to charge to
the TEC. 
  

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 Your remuneration will be reviewed annually, usually in June, with any increase, which may arise from each review being
effective on 1 July. The review and operative dates may be altered by Mayne from time to time. 
  
 Senior Executive Short Term Incentive Plan 
  
 You will be eligible to participate in the Mayne Group Senior Executive Short Term Incentive Plan (SESTIP), pursuant to which an award of an amount equal to a proportion of your fixed annual remuneration determined by the Board may be made
to you where specified performance conditions are satisfied. 
  
 The Plan is
designed to provide both a short term and a medium term incentive to senior executives. The short term incentive will be satisfied by payment of part of any amount awarded to you in cash. The medium term incentive is provided in the form of Mayne
Shares purchased through a nominated percentage of the amount awarded. 
  
 Under
separate correspondence you will receive an invitation to participate in the SESTIP which will include the Rules of the SESTIP, the maximum amount that may be awarded to you, the performance criteria against which the incentive award will be
assessed and the rights and obligations applicable to the allocation of shares. 
  
 Participation in the SESTIP will be subject to your acceptance of the terms set out in the invitation, and for the financial year 2003/2004 any award will be pro rata to reflect your commencement in the plan effective 1 January 2004.

  
 Superannuation 
  
 You will be required to remain a member of the Mayne Group Superannuation Fund. 

 
 Salary for Superannuation will be at the rate of 92% of TEC. As your superannuation
contribution exceeds the SGC maximum, you may elect to reduce your contribution to no less than the SCG maximum which is currently $11,002p.a. 
  
 Full details of the range of Superannuation entitlements are supplied in the Member’s Booklet, which is already in your possession. 
  
 Re-assignment 
  
 Mayne has a policy in which it reserves the right to reassign employees geographically from time to time. Such reassignment will occur after
consultation and agreement with you, particularly as to your career development and your own circumstances. 
  
 Termination of Employment 
  
 You may
resign from your employment and terminate this contract by giving to Mayne no less than six (6) months’ notice in writing. If you do so, Mayne is not obliged to provide you with duties during the notice period. In the event you resign to join a
competitor, Mayne reserves the right to require you to serve the notice period on an active or passive basis. 
  

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 Similarly, Mayne may, at any time, terminate your employment by giving no less than six (6) months’ notice in
writing or payment in lieu. Payment in lieu of notice will be at the rate equivalent to your TEC for the period of notice. 
  
 In the case of serious misconduct (including disclosure of confidential information or other serious or continuing breaches of this contract) Mayne may terminate your
employment without notice. In this case you will receive only accrued but un-taken leave entitlements. 
  
 Retrenchment 
  
 If your employment is
terminated on the grounds of redundancy, retrenchment benefits payable to you will accord with the terms of the retrenchment policy applicable to Mayne staff at that time, except that, the payment in respect of notice will be not less than the
notice period provided above. 
  
 Mayne Group Policies 
  
 You will be required to comply with Mayne Group policies and procedures generally, as
established and varied from time to time. 
  
 Confidentiality 

 
 It is agreed that, without limiting any express or implied obligation of confidentiality
upon you under any statute (including Corporation Law) you undertake that you will not divulge to any person or use any trade secrets or confidential information concerning the business, financial arrangements or any further information, which is
not publicly available, except with the written authority of the undersigned. 
  
 Restriction on Activities 
  
 It is agreed that you will not
during your employment with Mayne or within six months after cessation, either on your own account or jointly with any other person, or company, solicit interfere with or endeavor to entice away from Mayne or its subsidiaries any employee or
customer of the Group. 
  
 Applicable Law 
  
 This contract of employment will be governed by the law of the State of Victoria.

  
 Schedule of Benefits 
  
 The employment benefits applicable to you in this position are recorded in the attached
schedule. 
  
 Date of Effect 
  
 This contract takes effect on the 1 January 2004. 
  

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 Attachments 
  
 The enclosed attachments to this letter form part of the terms and conditions of your contract of employment. 
  
 Acceptance 
  
 To signify your acceptance of this offer of employment under the conditions outlined above, please sign, date, and return the duplicate of
this letter to me. 
  
 Yours sincerely, 
  
 STUART JAMES 
 Group Managing Director & CEO 
  

	Att:	Schedule of Benefits 

 TEC Schedule 
  
 I acknowledge having received and read this letter and each of its attachments, and I
accept the offer of employment on the terms set out in this letter. 
  

	
	
	 
	Neil Rodaway
	
	 Date:
    /    /        

  

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 SCHEDULE OF BENEFITS

  

			
	 Name:
	  	 Neil Rodaway

	 Position:
	  	 Group General Manager Diagnostic Services

	 Date:
	  	 1 January 2004

  
 These benefits apply subject to the
variations contained in the covering letter. Full details of the benefits and conditions are available from Group General Manager, Personnel. 
  
 Annual Leave 
  
 Annual leave will continue to accrue at the rate of 4 weeks (20 working days) per annum. Leave loading is included in the TEC package. 
  
 Sick Leave 
  
 Sick leave credit will continue to accrue at the rate of 10 days on the anniversary of each complete year of service to a maximum of 52 weeks credit. Discretion will
apply to the payment for sick leave beyond available credits. 
  
 Long Service
Leave 
  
 Long service leave of 13 weeks becomes due after 15 years
continuous service. Thereafter, long service leave accrues a rate of 4 and 1/3 weeks for each 5 years service. 
  
 Where the provisions of State legislation exceeds the above, the State legislation shall apply. 
  
 Other Leave 
  
 Provisions with respect to other leave will be in accordance with the guidelines issued to Mayne staff from time to time. 
  
 Contact and Entertainment Expenses 
  
 Contact and entertainment expenses which are business related and of benefit to the company will be reimbursed through the process of claim and approval by the Group
Managing Director & CEO, Mayne. 
  
 Class of Air Travel 
  
 Travel on Domestic and International flights whilst on company business shall be in business
class. 
  
 Communication Facilities 
  
 Mayne will meet the cost of installation and rental of a telephone, a facsimile machine and
a laptop personal computer with the necessary linkages and access to Mayne’s systems in your home. Mayne will also meet the cost of calls, operation and services to the equipment. 
  
 * * * * * * 
  

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 TOTAL EMPLOYMENT COST
(TEC) 
 SCHEDULE 
  
 Neil Rodaway 
  
 Effective: 1 January 2004 
  

									
	 Previous TEC

	  	 Revised TEC

	 Salary
	  	$	276,920	  	 Salary
	  	$	352,380
	 Superannuation 17.5%* of $257,600 (80%)
	  	$	45,080	  	 Superannuation 17.5%* of $386,400#)
	  	$	67,620
	 TOTAL
	  	$	322,000	  	 TEC
	  	$	420,000

  

					
	Senior Executive Short Term Incentive Plan (SESTIP)
			
	 Maximum
	  	100% of TEC	  	$420,000

  

	*	Superannuation benefit factor of 17.5% 

  

	#	Salary for Superannuation is $352,380 (92% of TEC) 

  
 * * * * * * 
  

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