Document:

Exhibit
10.1

       

      2009A AMENDMENT TO LOAN
DOCUMENTS

      

      THIS
2009A AMENDMENT TO LOAN DOCUMENTS (this “Amendment”), is made and entered into
as of April 1, 2009, by and among (i) JPMORGAN CHASE BANK, N.A., a national
banking association (the “Agent Bank”) (JPMORGAN CHASE BANK, N.A. may also be
referred to as a “Bank”); (ii) the BANKS identified on Schedule 1.1 hereto
(each a “Bank” and collectively, the “Banks”); (iii) SYPRIS SOLUTIONS, INC., a
Delaware corporation, with its principal office and place of business and
registered office in Louisville, Jefferson County, Kentucky (the “Borrower”) and
(iv) the GUARANTORS identified on Schedule 1.2 hereto
(each a “Guarantor” and collectively, the “Guarantors”).

      

      PRELIMINARY  STATEMENT:

      

      A.          Certain
of the Guarantors and their Affiliates entered into a Loan Agreement dated as of
March 21, 1997, with the Agent Bank (the “Original Loan Agreement”), whereby the
Agent Bank extended in favor of the Guarantors a revolving line of credit in the
amount of $20,000,000, a term loan in the amount of $10,000,000 and a swing line
of credit subfacility in the amount of $5,000,000.

      

      B.           The
predecessors to the Borrower and certain of the Guarantors entered into a 1997A
Amended and Restated Loan Agreement dated as of November 1, 1997, with the Agent
Bank (the “1997A Loan Agreement”), whereby the Agent Bank increased the
revolving line of credit to $30,000,000 and the term loan to $15,000,000 and
provided the swing line of credit subfacility in the amount of
$5,000,000.  The 1997A Loan Agreement was subsequently amended by,
among other amendments, the 1998A Amendment to Loan Documents dated as of
February 18, 1998.

      

      C.           The
Borrower, certain of the Guarantors, the Agent Banks and the Banks entered into
the 1999 Amended and Restated Loan Agreement dated as of October 27, 1999 (the
“1999 Loan Agreement”), which amended, restated and replaced the Original Loan
Agreement and the 1997A Loan Agreement, as amended.  The 1999 Loan
Agreement provided for a revolving line of credit in the amount of $100,000,000,
a swing line subfacility of $5,000,000 and a letter of credit subfacility of
$15,000,000.  The 1999 Loan Agreement was subsequently amended by
among other amendments, (i) the  2000A Amendment to Loan Documents
dated as of November 9, 2000 (the “2000A Amendment”); (ii) the 2001A Amendment
to Loan Documents dated as of February 15, 2001 (the “2001A Amendment”);
(iii)  the 2002A Amendment to Loan Documents dated as of December 21,
2001 and having an effective date of January 1, 2002 (the “2002A
Amendment”);  (iv) the 2002B Amendment to Loan Documents dated as of
July 3, 2002 (the “2002B Amendment”); (v) the 2003A Amendment to Loan Documents
dated as of October 16, 2003 (the “2003A Amendment”);  (vi) the 2005A
Amendment to Loan Documents dated as of March 10, 2005 (the “2005A Amendment”);
(vii) the 2005B Amendment to Loan Documents dated as of May 10, 2005 (the “2005B
Amendment”);  (viii) the 2005C Amendment to Loan Documents dated as of
August 3, 2005 (the “2005C Amendment”);  and (ix) and the 2006A
Amendment to Loan Documents dated as of February 28, 2006 (the “2006A
Amendment”).

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

      

      D.          The
Agent Bank and the Banks in May, 2004 consented to the Borrower’s issuance of
$55,000,000 of senior notes (the “Senior Notes”) pursuant to a Note Purchase
Agreement dated as of June 1, 2004 (as amended, the “Note Purchase
Agreement”).

      

      E.           The
Borrower in April, 2004 created a new subsidiary, Sypris Technologies Kenton,
Inc., a Delaware corporation (“STK”), and the Agent Bank and the Banks consented
to the creation of STK as a subsidiary, on the condition that STK become a
Guarantor under the Loan Agreement. STK became a Guarantor under the Loan
Agreement by executing and delivering to the Agent Bank a Guaranty Agreement
dated June 1, 2004, guarantying the obligations of the Borrower to the Banks
(the “STK Guaranty”).

      

      F.           The
Borrower in June, 2004 requested that the Banks consent to the Borrower’s
acquisition of a facility in Toluca, Mexico (the “Toluca
Facility”).  The Banks consented to the acquisition of the Toluca
Facility.  The Borrower created the following second tier subsidiary
and third tier subsidiaries related to the Toluca Facility: (i) Sypris
Technologies Mexican Holdings, LLC (the interests of which are held by Sypris
Technologies, Inc.) and (ii) Sypris Technologies Mexico, S. de R.L. de C.V. and
Sypris Technologies Toluca, S.A. de C.V. (the interests of which are held by
Sypris Technologies Mexican Holdings, LLC and Sypris Technologies, Inc.) (all of
the foregoing Subsidiaries are referred to as the “Toluca
Subsidiaries”).

      

      G.          The
Borrower, the Guarantors, the Agent Bank and the Banks completely amended and
restated the 1999 Loan Agreement and related documents by entering into an
Amended and Restated Loan Agreement dated as of April 6, 2007 (the “2007 Loan
Agreement” or the “Loan Agreement”), providing for, among other things (i) the
Revolving Credit Facility in the amount of $50,000,000; (ii) consent to the
Borrower’s redemption of a portion of the outstanding principal amount of the
Senior Notes, reducing the outstanding principal amount of the Senior Notes to
$30,000,000 and (iii) certain  other changes.

      

      H.          The
Borrower, the Guarantors, the Agent Bank and the Banks executed and held in
escrow a 2007A Amendment to Loan Documents, pending satisfaction of certain
conditions.  Those conditions were never satisfied, so the proposed
2007A Amendment to Loan Documents never took effect.

      

      I.            On
or prior to the date of this Amendment, the Borrower has failed to observe
and/or perform certain provisions of the Loan Agreement, which failures are
continuing, including the following:

      

      1.           The
Borrower has failed to observe or perform Section 7.6 of the Loan Agreement by
failing to maintain the ratio set forth therein as of its fourth Fiscal Quarter
of 2008 and its first Fiscal Quarter of 2009 (the “Fixed Charge Coverage
Failure”).

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      

      2.           The
Borrower has failed to observe or perform Section 7.7 of the Loan Agreement by
failing to maintain the ratio set forth therein as of its fourth Fiscal Quarter
of 2008 and its first Fiscal Quarter of 2009 (the “Adjusted Funded Debt to
EBITDA  Ratio Failure”).

      

      3.           The
Borrower has failed to observe or perform Section 7.8 of the Loan Agreement by
failing to maintain level set forth therein as of its fourth Fiscal Quarter of
2008 and its first Fiscal Quarter of 2009 (the “Minimum Net Worth
Failure”).

      

      4.           Any
breach of the representations or warranties in Section 5 of the Loan Agreement
arising from the Fixed Charge Coverage Failure, the Adjusted Funded Debt to
EBITDA Ratio Failure, and the Minimum Net Worth Failure (the “Representations
and Warranties Failures”).

      

      5.           Any
failure to satisfy the conditions subsequent requirements of Section 4.3 of the
Loan Agreement within the times required (the “Conditions Subsequent
Failures”).

      

      6.           Any
failure to timely notify the Agent Bank, or any other Person, of the Borrower’s
knowledge of the foregoing specific failures to observe or perform as
specifically disclosed in this Recital I (the “Notice Failures”).

      

      7.           Any
failure to provide within the time required or otherwise any of the information
reports due prior to the date of this Agreement required by Section 6.3 of the
Loan Agreement (the “Reporting Failures”).

      

      The Fixed
Charge Coverage Failure, the Adjusted Funded Debt to EBITDA Ratio Failure, the
Minimum Net Worth Failure, the Representations and Warranties Failures, the
Conditions Subsequent Failures, the Notice Failures or the Reporting Failures as
they are in effect on the date of this Amendment, are collectively referred to
as the “Failures”.

      

      J.           The
Borrower, the Guarantors, the Agent Bank and the Banks now wish to amend the
2007 Loan Agreement and the other Loan Documents (as defined in the Loan
Agreement in order to (1) waive the Failures, (2) modify the definition of
“Revolving Loan Commitment Termination Date,” (3) change interest rates and
fees, (3) provide for certain mandatory prepayments and commitment reductions in
certain circumstances, (4) modify certain covenants of the Loan Agreement and
add certain covenants to the Loan Agreement,  and (5) make certain
other changes, all as set forth in this Amendment.

      

      NOW,
THEREFORE, in consideration of the promises and the mutual covenants and
agreements set forth herein and for other good and valuable consideration, the
mutuality, receipt and sufficiency of which are hereby acknowledged, the parties
agree as follows:

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      

      1.           RECITALS, DEFINED TERMS AND
EFFECTIVE DATE.  The recitals to this Amendment are
incorporated into the text of this Amendment and the parties agree that they
have the same force and effect as the other provisions of this
Amendment.  Terms not defined herein shall have the meanings set forth
in the Loan Agreement.  None of the amendments and changes set forth
in this Amendment shall take effect or have any legal effect until the
satisfaction of all conditions precedent set forth in Section 8 hereof and upon
satisfaction of such conditions precedent, such amendments and changes shall be
effective as of the date of this Amendment.

      

      2.           AMENDMENT OF LOAN
AGREEMENT.

      

      (a)           Amendment
Existing Definitions.  The
following definitions set forth in Section 1 of the Loan Agreement are hereby
amended and restated to read in their entirety as follows:

      

      1.7          "Applicable
Base Rate Margin" means three percent (3.00%) per annum.

      

      1.15        "Base
Rate" means at any time the variable rate of interest that is the Agent Bank's
Prime Rate as announced publicly and changing from time to time when such Prime
Rate changes.

      

      1.27       
“Compliance Certificate” means a certificate substantially in the form of Exhibit A annexed to
the 2009A Amendment to Loan Documents  and delivered by the Borrower
to the Agent Bank pursuant to Section 6.3D hereof.

      

      1.38      
 “Dana Payment” means any cash payment received (including by way of
setoff) by the Borrower or any Subsidiary (or otherwise paid in accordance with
the instructions of the Borrower or any Subsidiary) (i) under the terms of any
one or more of the Dana Supply Agreements upon any termination or rejection of
such agreement or agreements in connection with or arising out of the Dana
Bankruptcy Proceedings, (ii) constituting cash proceeds (including by way of
setoff) from the sale, disposition, transfer or liquidation of any interest in
any claim of the Company or any Subsidiary for damages arising out of such
termination or rejection, or (iii) constituting cash proceeds from the sale,
disposition, transfer or liquidation of any and all Capital Stock of Dana
Holding Corporation.

      

       

      1.42      
"Default Rate" means, for any Loan, the Base Rate plus six percent
(6.00%).

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      

      1.82        “Loan
Documents” means this Loan Agreement, as amended by the 2009A Amendment to Loan
Documents, the Security Agreement, the Revolving Credit Notes, each Application
and Agreement for Letter of Credit, the Guaranty Agreements, any Rate Management
Transaction Agreement and all other agreements, documents and instruments now or
hereafter evidencing and/or pertaining to this Loan Agreement and/or the other
Obligations, and as may be further amended, supplemented or otherwise modified
from time to time.

       

      1.97       “Pricing
Level” means, for any Pricing Period, the 2009A Amendment Pricing Level, which
shall be in effect from the date of the 2009A Amendment through and until the
Revolving Loan Commitment Termination Date; provided that, the
Default Rate shall be in effect upon the occurrence and during the continuation
of any Event of Default.

       

      
        1.113    
“Revolving Credit Facility” means the revolving line of credit established by
the Banks in favor of the Borrower in the principal amount of Fifty Million
Dollars ($50,000,000), pursuant to which the Borrower may obtain Revolving
Credit Loans from the Banks and/or Letters of Credit from the Agent Bank during
the term of the Revolving Credit Facility upon the terms and conditions set
forth in this Loan Agreement.  The Revolving Credit Facility includes
as a sublimit the Letter of Credit Subfacility and the Swing Line Credit
Subfacility.  All references to the “aggregate principal balance of
the Revolving Credit Loans outstanding” or similar phrases in this Loan
Agreement or in the Revolving Credit Notes shall mean, as of the date of
determination thereof, the sum of (i) the entire aggregate outstanding principal
balance of all Revolving Credit Loans made by the Banks pursuant to this Loan
Agreement, (ii) the then existing Letter of Credit Usage and (iii) the then
existing Swing Line Usage.

      

       

      1.119  
  “Revolving Loan Commitment Termination Date” means the Revolving
Loan Commitment Termination Date then in effect, which shall be the earliest of
(i) January 15, 2010, (ii) the date as of which the Obligations shall have
become immediately due and payable pursuant to Section 8 of the Loan Agreement
and (iii) the date on which all of the Obligations are paid in full (including,
without limitation, the repayment, expiration, termination or cash
collateralization of Letters of Credit pursuant to this Loan Agreement) and the
Revolving Loan Commitments are reduced to zero.

      

      (b)         Additional
Definitions.  Section 1 of the Loan Agreement is hereby
supplemented to add the following definitions which shall read in its entirety
as follows:

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      1.137     “2009A
Amendment Pricing Level” means the Pricing Level identified in the table in
Section 2.2A, which will be in effect for any applicable Pricing Period from the
date of the 2009A Amendment through and until the Revolving Loan Commitment
Termination Date, as reflected in the table in Section 2.2A(ii) of the Loan
Agreement; provided that, the Default Rate shall be in effect upon the
occurrence and during the continuation of any Event of Default.

       

      1.138    
“2009A Amendment to Loan Documents” means the 2009A Amendment to Loan Documents
dated as of April 1, 2009 by and among the Agent Bank, the Banks, the Borrower
and the Guarantors.

       

      1.139    
“2009A Amendment Closing Date” means April 1, 2009.

       

      1.140     “2009 Monthly
Business Plan” means Borrower’s projected financial plan, which is based upon a
set of financial projections prepared in accordance with GAAP and includes a
consolidated balance sheet, monthly income statement and monthly cash flow
statement.

      

      1.141     “Mexican
Loan Proceeds” means any proceeds repatriated to the United States from any loan
made by a third-party lender to any of the Borrower’s Mexican Subsidiaries with
the prior written consent of the Banks pursuant to documentation in form and
substance satisfactory to the Banks.

      

      (c)         Deletion of Section 2.1G;
Restatement of Schedule 2.1.   Section 2.1G (which had
provided for increases in the Revolving Loan Commitments under certain
circumstances) is hereby deleted from the Loan Agreement.  Schedule
2.1 to the Loan Agreement is hereby restated as Schedule 2.1 to the 2009A
Amendment to Loan Documents.

      

      (d)         Amendment
of Section 2.2A.  Three changes
are hereby made to section 2.2A of the Loan Agreement: (1) The interest
rate grid in Section 2.2A is hereby amended and restated in its entirety as
follows in the grid below, (2) the clause following the grid set forth below
shall be added to the end of Section 2.2A, (3) the last paragraph of Section
2.2A is hereby deleted, and (4) the Borrower shall not be entitled to elect to
receive a Base Rate Loan:

      

      
        
          
            	
                     

                    Pricing Level

                  	 	
                    Applicable

                    LIBOR Margin*

                  	 
	
                    2009A
      Amendment Pricing Level

                  	 	 	5.75	%

          

        

      

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      

      *Overdue
principal, interest, fees and other amounts prior to the occurrence of an Event
of Default shall bear interest at the Adjusted LIBOR Rate, plus the Applicable
LIBOR Margin, plus two percent (2.00%). Following and during the continuance of
an Event of Default, such amounts shall bear interest at the Default
Rate.

      

      (e)
         Amendment of Section 2.3B
(Waiver Fee and Success Fee).  Section 2.3B is hereby
amended and restated as follows:

      

      “2.3B  Waiver Fee and Success
Fee.  The Borrower shall pay to the Agent Bank on the 2009A
Amendment Closing Date for the benefit of the Banks in proportion to their
respective Revolving Credit Facility Pro Rata Shares on the 2009A Amendment
Closing Date, a waiver fee (the “Waiver Fee”) equal to 75/100 of one percent
(0.75%) of the $50,000,000 of Revolving Loan
Commitments.   Additionally, on the date (the “Payoff Date”) upon
which all of the Obligations are paid in full (including, without limitation,
the repayment, expiration, termination or cash collateralization of Letters of
Credit issued pursuant to the Loan Agreement) and the Revolving Loan Commitments
are reduced to zero (the “Payoff”), the Borrower shall pay to the Agent Bank for
the benefit of the Banks in proportion to their respective Revolving Credit
Facility Pro Rata Shares on such Payoff Date, a percentage as depicted in the
grid set forth below multiplied by the Revolving Loan Commitments on the 2009A
Amendment Closing Date.”

      

      
        
          
            
              
                
                  	
                          Payoff Date Occurring:

                        	 	
                          Payoff Fee (expressed as percentage of

                          Revolving Loan Commitments):

                        	 
	
                          On
      or before July 31, 2009

                        	 	 	0.0	%
	
                          August
      1, 2009 to August 31, 2009

                        	 	 	0.25	%
	
                          September
      1, 2009 to September 30, 2009

                        	 	 	0.5	%
	
                          October
      1, 2009 to October  31, 2009

                        	 	 	1.0	%
	
                          November
      1, 2009 and thereafter

                        	 	 	1.5	%

                

              

            

          

        

      

      

      (f)           Amendment and Restatement of
Section 2.4D (Mandatory Permanent Reduction in Revolving Loan Commitments Upon
Receipt of Dana Payment).  Section 2.4D is hereby amended and
restated as follows:

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

      “2.4D    Mandatory Permanent
Reduction in Revolving Loan Commitments Upon Occurrence of Certain
Events.  To the extent that (i) Borrower or any Subsidiary
receive Mexican Loan Proceeds, (ii) Borrower or any Subsidiary of Borrower
receive all or any of the Dana Payment, or (iii) Borrower or any Guarantors sell
any Collateral (including any sales of equity in any of Borrower’s Subsidiaries)
outside the ordinary course of business, the proceeds of (i), (ii) and (iii)
(after subtracting investment banking fees, legal fees and other expenses
directly related to such sale, and after subtracting “Company Retained Proceeds”
described in the table below) shall be allocated in accordance with Section 9 of
the Collateral Sharing Agreement described in Section 1.24 of the Loan
Agreement.  The Borrower shall pay such amounts to the Collateral
Account described therein.  The amounts received by the holders of the
$55,000,000 Senior Notes shall be applied as a prepayment of the $55,000,000
Senior Notes without premium or penalty based upon their outstanding principal
balances under the $55,000,000 Senior Notes.  The amounts paid to the
Banks shall be distributed to the Banks based upon their Revolving Loan
Commitments and the Revolving Loan Commitments of such Banks shall be
permanently reduced by an amount equal to the amounts so
received.  The provisions of this Section 2.4D shall not entitle the
Borrower or any Guarantors to encumber any of the Collateral or to sell any
Collateral (including any sales of assets or equity in any of the Borrower’s
Subsidiaries) out of the ordinary course of business, permission for which must
be obtained in accordance with the terms of the Loan
Documents.  Notwithstanding any statement herein to the contrary, to
the extent that substantially all of the assets or equity interests in Sypris
Test Measurement, Inc. and/or the engineered products division of Sypris
Technologies, Inc. are sold (each a “Strategic Divestiture”), the “Company
Retained Sale Proceeds” of each sale shall be as follows, depending upon the
closing date of each such transaction (all amounts expressed in thousands of
U.S. dollars):

      

      
        
          
            
              	
                      Closing Date (2009)

                    	 
      	
                      May

                    	 
      	
                      June

                    	 
      	
                      July

                    	 
      	
                      August

                    	 
      	
                      Sept

                    	 
      	
                      Oct

                    	 
      	
                      Nov

                    	 
      	
                      Dec

                    
	
                      Engineered
      Products

                    	 
      	
                      3,759

                    	 
      	
                      3,420

                    	 
      	
                      2,915

                    	 
      	
                      2,441

                    	 
      	
                      1,973

                    	 
      	
                      1,351

                    	 
      	
                      924

                    	 
      	
                      377

                    
	
                      Sypris
      Test &

                      Measurement

                    	 
      	
                      6,183

                    	 
      	
                      5,232

                    	 
      	
                      4,619

                    	 
      	
                      3,828

                    	 
      	
                      2,890

                    	 
      	
                      2,142

                    	 
      	
                      1,051

                    	 
      	
                      216

                    

            

          

        

      

      

      Each
month, the Borrower shall pay the Agent Bank, for the benefit of the Banks, a
monthly fee in an amount equal to the result of (i) the Banks’ combined Pro Rata
Share (as defined in the Collateral Sharing Agreement and assuming for such
definition that a Notice of Actionable Default shall have been received by the
Collateral Agent and not withdrawn) multiplied by (ii) the aggregate Company
Retained Sale Proceeds with respect to each Strategic Divesture multiplied by
(iii) a fraction, the numerator of which is the Adjusted LIBOR Rate plus the
Applicable LIBOR Margin and the denominator of which is 12 (each, a “Company
Retained Sale Proceeds Fee”).  The Company Retained Sale Proceeds Fee
shall be payable monthly in arrears starting in any month in which a Strategic
Divestiture occurs to the Agent Bank for the benefit of the Banks on the same
date interest is due under this Agreement.

      

      (g)         Amendment of Section 2.7F
(Letters of Credit – Compensation).  The Letter of Credit Fee
grid in Section 2.7F is amended and restated in its entirety as
follows:

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

      

      
        
          
            	
                     

                    Pricing Level

                  	 	
                    Applicable Letter

                    of Credit

                    Percentage

                  	 
	
                    2009A
      Amendment Pricing Level

                  	 	 	3.50	%

          

        

      

      

      (h)         Amendment and Restatement of
Compliance Certificate Delivery Requirement.  Section 6.3D of
the Loan Agreement is amended and restated to read in its entirety as
follows:

      

      “D.        Compliance
Certificate.  On or before the 25th day of
each fiscal month, the Borrower, for itself and the Guarantors, shall deliver to
the Agent Bank a Compliance Certificate in substantially the form of Exhibit A to the
2009A Amendment to Loan Documents with all blanks completed and (x) stating that
the Authorized Officer of the Borrower, for itself and the Guarantors, signing
the Compliance Certificate has reviewed the relevant terms of this Loan
Agreement, the Revolving Credit Notes, the Negative Pledge Agreement and the
other Loan Documents to which the Borrower and the Guarantors are party, and
such Authorized Officer has no actual knowledge (after making such inquiry as is
consistent with the scope of his or her duties) of any event or condition which
constitutes an Event of Default hereunder, or, if any such condition or event
existed or exists, specifying the nature and period of existence thereof and
what action the Borrower has taken or is taking or proposes to take with respect
thereto, and (y) demonstrating in reasonable detail compliance at the end of
such accounting period with Sections 7.6 through 7.9 of this Loan Agreement to
the extent applicable to such period; provided, that to the extent the Borrower
has timely submitted (e.g. within 15 days after the end of a fiscal month) to
the Agent Bank a Liquidity Certificate in compliance with the requirements of
Section 7.9 for such period, and to the extent the information contained in the
Liquidity Certificate remains true and correct as of the date of submission of
the Compliance Certificate, the Borrower may omit information regarding Section
7.9 from the Compliance Certificate for that particular fiscal
month.”

      

      (i)           Addition of Paragraphs to
Section 6.3 (Financial Statements and Reports).  The following
subsections K, L, M and N, O, and P are hereby added to Section
6.3:

      
        
           

        

        
          9

          
            

          

        

        
           

        

      

      “K.        Financial
Consultant.   Prior to the 2009A Amendment Closing Date,
the Borrower shall engage a financial advisor acceptable to the Banks and the
holders of the $55,000,000 Senior Notes pursuant to the terms of an engagement
agreement satisfactory to the Banks and the holders of the $55,000,000 Senior
Notes after consultation with the Borrower (the “Borrower’s Financial
Advisor”).  The Borrower, the Banks and the holders of the $55,000,000
Senior Notes agree that the firm of Alvarez & Marsal is acceptable as of the
2009A Amendment Closing Date.  The duties of the Borrower’s Financial
Advisor will include, without limitation, the following: (1) validate
completeness and reasonableness of the Borrower’s 2009 Monthly Business Plan
(the "2009 Monthly Business Plan") attached to the 2009A Amendment to Loan
Documents as Exhibit
B and any adjustments thereto; (2) validate and confirm the Borrower’s
actions to execute the 2009 Monthly Business Plan, and (3) validate the
execution of the investment banking efforts to complete the sale of
substantially all of the assets or equity interests in Sypris Test &
Measurement, Inc. and the engineered products division of Sypris Technologies,
inc. (each, a "Strategic Divesture").  The Borrower shall provide the
Agent Bank, promptly after its receipt thereof, with all final written reports
prepared by the Borrower’s Financial Advisor.”

      

      L.           Investment Banking
Process.

      

      
        The
Borrower shall take all efforts necessary to complete each Strategic Divesture
as promptly as possible.  Without limiting the foregoing it shall
complete and comply with the following as it relates to each Strategic
Divesture:

      

       

      (a)           With
respect to the process of marketing the engineered products division of Sypris
Technologies, Inc. (“Engineered Products” or “EP”):

       

      (i)          
The Borrower shall submit the final management presentation to the Banks no
later than March 31, 2009;

       

      (ii)         
The Borrower shall arrange to make a data room available to potential buyers no
later than April 30, 2009;

       

      (iii)        
The Borrower shall make a call for initial, non-binding, indicative offers no
later than May 31, 2009;

       

      (iv)        The
Borrower shall report to the Banks no later than May 31, 2009 regarding initial
offers received;

       

      (v)         The
Borrower shall make arrangements for potential buyer due diligence during the
periods from April 30, 2009 through May 31, 2009;

       

      (vi)        The
Borrower shall make a call for final offers no later than June 15,
2009;

       

      (vii)       The
Borrower provide the Banks with copies of all final offers and bids, together
with a report summary of such final offers and bids no later than June 22,
2009;

      
        
           

        

        
          10

          
            

          

        

        
           

        

      

      

      (viii)   
  If the Borrower receives one or more binding definitive offers for
more than $18,000,000 in non-contingent cash consideration for EP (an “EP
Qualified Offer”), the Borrower agrees to (1) accept the EP Qualified Offer on
or before July 15, 2009 and (2) use best efforts to close on the EP Qualified
Offer on or before August 15, 2009.  If the Borrower receives one or
more binding definitive offers for less than or equal to $18,000,000 in
non-contingent cash consideration for EP (an “EP Fairness Offer”), the Borrower
agrees to seek a fairness opinion from Lazard Middle Markets, and if the value
of the EP Fairness Offer is equal to or greater than the value rendered in the
fairness opinion, the Borrower agrees to (1) accept the EP Fairness Offer on or
before August 15, 2009 and (2) use best efforts to close on the EP Fairness
Offer on or before September 15, 2009; and

      

      (ix)         The
failure to observe or perform any of the covenants set forth in this
subparagraph (a), which failure continues uncured for a period of 14 days shall
automatically constitute an Event of Default.

      

                 (b)           With
respect to the process of marketing the business of Sypris Test &
Measurement, Inc. (“STM”):

       

      (i)           The
Borrower shall submit the final management presentation to the Banks no later
than May 31, 2009;

       

      (ii)          The
Borrower shall arrange to make a data room available to potential buyers no
later than June 30, 2009;

       

      (iii)         The
Borrower shall make a call for initial, non-binding, indicative offers no later
than May 31, 2009;

       

      (iv)        The
Borrower shall report to the Banks no later than June 15, 2009 regarding initial
offers received;

       

      (v)         The
Borrower shall make arrangements for potential buyer due diligence during the
periods from June 30, 2009 through August 31, 2009;

       

      (vi)        The
Borrower shall make a call for final offers no later than September 15,
2009;

       

      (vii)       The
Borrower provide the Banks with copies of all final offers and bids, together
with a report summary of such final offers and bids no later than September 22,
2009;

      
        
           

        

        
          11

          
            

          

        

        
           

        

      

      (viii)      If
the Borrower receives one or more binding definitive offers for more than
$36,000,000 in non-contingent cash consideration for STM (an “STM Qualified
Offer”), the Borrower agrees to (1) accept the STM Qualified Offer on or before
September 30, 2009 and (2) use best efforts to close on the STM Qualified Offer
on or before November 15, 2009.  If the Borrower receives one or more
binding definitive offers for less than or equal to $36,000,000 in
non-contingent cash consideration for STM (an “STM Fairness Offer”), the
Borrower agrees to seek a fairness opinion from Needham & Co. and if the
value of the STM Fairness Offer is equal to or greater than the value rendered
in the fairness opinion, the Borrower agrees to (1) accept the STM Fairness
Offer on or before October 15, 2009 and (2) use best efforts to close on the STM
Fairness Offer on or before December 1, 2009; and

      

      (ix)         The
failure to observe or perform any of the covenants set forth in this
subparagraph (b), which failure continues uncured for a period of 14 days shall
automatically constitute an Event of Default.

      

      M.         Bi-Weekly
Updates.  The Borrower shall provide bi-weekly updates to the
Banks telephonically with sufficient time for questions and
answers.

      

      N.   
      13 Week Cash Flow
Budget.   The Borrower shall provide a 13 week cash flow
report with a comparison to budget for each week by the last calendar day of
each subsequent week.

      

      O.          Informational
Undertakings.  As soon as practicable, but in no event more
than [3] Business Days after receipt or delivery, as applicable, by the
Borrower, the following: (i) all material, written reports, provided to any
Holder of the Senior Notes, (ii) any final written reports prepared by Alvarez
& Marsal and delivered to the Borrower, (iii) weekly written updates on the
Borrower’s program to complete the Strategic Divestitures (including copies of
any bids or offers received from potential buyers), and (iv) monthly updates of
its 2009 Monthly Business Plan.

      

      P.           Pro Rata Payments to
Banks.  The Borrower will not, and will not permit any of the
Guarantors to, pay, defease or otherwise satisfy (in whole or in part) in any
manner (whether by setoff, exercise of remedies or otherwise), the principal
amount of any of the Senior Notes, unless the Revolving Loan Commitments are
permanently reduced concurrently with such principal payment, defeasance or
other satisfaction, such that each of the Banks receives its pro rata share of
the total amount of Debt then being repaid (calculated based on the Principal
Exposure (as defined in the Collateral Sharing Agreement)), together with
accrued and unpaid interest thereon.  By way of example, as of a date
of payment on the Senior Notes, if (a) the Principal Exposure of the Banks is
$50 million and (b) the Principal Exposure of the Holders of the $55,000,000
Senior Notes is $30 million, and the Borrower makes a principal payment to the
Holders of the $55,000,000 Senior Notes in the amount of $3 million (10 percent
of the $30 million Principal Exposure), the Borrower would be required to make a
payment to the Banks in the amount of $5 million (10 percent of the $50 million
Principal Exposure) and the Revolving Loan Commitments would be reduced by such
$5 million payment.

      
        
           

        

        
          12

          
            

          

        

        
           

        

      

      

      (j)           Amendment of Sections 7.6
(Fixed Charge Coverage Ratio), 7.7 (Ratio of Adjusted Funded Debt to EBITDA) and
7.8 (Minimum Net Worth) and New Section 7.7.  Sections 7.6.,
7.7 and 7.8 are hereby deleted and, in lieu thereof, new Sections 7.7, 7.8 and
7.9 are added to the Loan Agreement, as follows:

      

      “7.7       Cumulative Consolidated EBITDAR.  The
Borrower will not permit the result of (i) EBITDA plus rent paid (“EBITDAR”) for
any period beginning April 6, 2009 and ending on a date set forth in the table
below, plus, (ii)
to the extent deducted in determining such EBITDAR,
restructuring charges as recorded in the Borrower’s financial statements, as
determined on a consolidated basis in accordance with GAAP, plus (iii) the Company
Retained Sale Proceeds from any Strategic
Divestiture made during such period; plus, (iv) to the extent
deducted in determining such EBITDAR, any
impairment of long-lived assets, goodwill, intangibles or any of the shares of
the stock of the Dana Entities; and (v) plus or minus any translation gains
or losses on the Borrower’s statement of operations due to changes in foreign
currency exchange rates, all as determined on a consolidated basis in accordance
with GAAP (such result, “Cumulative Consolidated EBITDAR”), to be less than the
amount set forth opposite such date (all amounts shown in parentheses indicate
negative numbers):

       

      
        
          
            
              
                
                  
                    
                      
                        	
                                If Such Date is During the Period

                                From April 6, 2009 Through:

                              	 	
                                Minimum Cumulative

                                Consolidated EBITDAR

                              	 
	 	 	 	 
	
                                July 5, 2009

                              	 	$	(2,000,000	)
	 	 	 	 	 
	
                                October
      4, 2009

                              	 	$	(500,000	)
	 	 	 	 	 
	
                                December
      31, 2009

                              	 	$	2,000,000	 

                      

                    

                  

                

              

            

          

        

      

       

      7.8         Adjusted Consolidated Net
Worth.  The Borrower will not permit the sum of Adjusted
Consolidated Net Worth (as defined in the Note Purchase Agreement) as of the
last day of any fiscal quarter noted in the table below plus the aggregate amount of
any impairment of long-lived assets, goodwill, intangibles or any of the shares
of the stock of the Dana Entities taken during year-to-date through such fiscal
quarter and reflected in such Adjusted Consolidated Net Worth, to be less than
the amount set forth such day in such table:

      
        
           

        

        
          13

          
            

          

        

        
           

        

      

      

      
        
          
            
              
                
                  
                    
                      
                        	
                                Date

                              	 	
                                Minimum Levels

                              	 
	 	 	 	 	 
	
                                July
      5, 2009

                              	 	$	55,000,000	 
	 	 	 	 	 
	
                                October
      4, 2009

                              	 	$	50,000,000	 
	 	 	 	 	 
	
                                December
      31, 2009

                              	 	$	45,000,000	 

                      

                    

                  

                

              

            

          

        

      

      

      7.9         Liquidity.  Over
the last five Business Days of each fiscal month, the sum of (1) the average
cash balance of the Borrower’s funds on hand (the “Cash Amount”) plus (2) the
average difference between (a) the Revolving Loan Commitments and (b) the sum of
(x) the entire aggregate outstanding principal balance of all Revolving Credit
Loans made by the Banks pursuant to this Loan Agreement, (y) the then existing
Letter of Credit Usage and (z) the then existing Swing Line Usage shall be
greater than or equal to the following amounts as of the following fiscal months
(such calculation, the “Availability Amount”) (the Cash Amount plus the
Availability Amount, the “Liquidity Amount”):

       

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                	
                                                        Fiscal Month Ending

                                                      	 	
                                                        Monthly Minimum Liquidity Amount

                                                      	 
	
                                                        April
      5, 2009

                                                      	 	$ 	 	
                                                        2.5
      million*

                                                      	 
	
                                                        May
      3, 2009

                                                      	 	$ 	 	
                                                        2.5
      million*

                                                      	 
	
                                                        May
      31, 2009

                                                      	 	$ 	 	
                                                        2.5
      million*

                                                      	 
	
                                                        July
      5, 2009

                                                      	 	$ 	 	
                                                        2.5
      million*

                                                      	 
	
                                                        August
      2, 2009

                                                      	 	$ 	 	
                                                        1.0
      million*

                                                      	 
	
                                                        August
      30, 2009

                                                      	 	$ 	 	
                                                        1.0
      million*

                                                      	 
	
                                                        October
      4, 2009

                                                      	 	$ 	 	
                                                        2.5
      million*

                                                      	 
	
                                                        November
      1, 2009

                                                      	 	$ 	 	
                                                        1.0
      million*

                                                      	 
	
                                                        November
      29, 2009

                                                      	 	$ 	 	
                                                        2.5
      million*

                                                      	 
	
                                                        December
      31, 2009

                                                      	 	$ 	 	
                                                        6.0
      million*

                                                      	 

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

      

      *Provided
that the Monthly Minimum Liquidity Amount set forth in the table above shall
automatically be increased each fiscal month, beginning the fiscal month in
which the Borrower or any Subsidiary receives a tax refund from the government
of Mexico or any State or political subdivision of Mexico (a “Mexican Tax
Refund”) by the amount of the Mexican Tax Refund.  Solely for purposes
of calculating the Cash Amount in any such fiscal month, if the Mexican Tax
Refund is received in the last five Business Days of a fiscal month, it shall be
deemed to have been received on the fourth Business Day preceding the last
Business Day of such fiscal month.  Within five Business Days of the
receipt of any Mexican Tax Refund, the Borrower shall notify the Agent
Bank.

      
        
           

        

        
          14

          
            

          

        

        
           

        

      

      The
Borrower’s compliance with this provision shall be evidenced by the Borrower’s
delivery of a certificate (a "Liquidity Certificate") which is due 15 days after
the end of each fiscal month and which shall include a calculation of the
Liquidity Amount, separately setting forth the Availability Amount and the Cash
Amount as calculated for such prior month. In the event that the Borrower’s
Liquidity Amount falls below the Monthly Minimum Liquidity Amount in any fiscal
month, the Borrower shall present a reasonably detailed, written action plan to
the Lenders, no later than the delivery of its Liquidity Certificate, designed
to ensure that the Liquidity Amount exceeds the Monthly Minimum Liquidity Amount
for the following fiscal month. In the event that the Borrower’s Liquidity
Amount falls below the Monthly Minimum Liquidity Amount in any two consecutive
fiscal months, such failure shall constitute an Event of Default
hereunder.”

      

      (k)         Amendment of Section 7.10
(Capital Expenditures).  Section 7.10 is amended and restated
as follows:

      

      “7.10     Capital
Expenditures.   Other than as set forth in Schedule 7.10 to the
2009A Amendment to Loan Documents, the Borrower and its Subsidiaries shall not
incur Capital Expenditures in excess of $2,000,000 through the Revolving Loan
Commitment Termination Date.”

      

      (l)           New Section 7.17 (Dividends
and Distributions).   A new Section 7.17 is added to the
Loan Agreement, which shall read in its entirety as follows:

      

      “7.17   
 Dividends and
Distributions.  The Borrower shall not make any distribution or
declare or pay any dividends (in cash or other property) on, or purchase,
acquire, redeem, or retire any of, the Borrower’s stock, whether now or
hereafter outstanding.”

      

      (m)        New Section 7.18 (Credit
Card and Other Debt).   A new Section 7.18 is added to the
Loan Agreement, which shall read in its entirety as follows:

      

      
        “7.18    
Credit Card and Other
Debt Except
for the amounts due under the Loan Agreement and due to holders of the
$55,000,000 Senior Notes, the Borrower shall be prohibited from incurring credit
card debt in excess of One Million Dollars ($1,000,000) through April 23, 2009
and in excess of Five Hundred Thousand Dollars ($500,000.00) thereafter, and
from incurring any other Debt permitted under the Loan Agreement in excess of
Two Million Five Hundred Thousand Dollars ($2,500,000.00).”

      

      

      3.           RATIFICATION.  Except
as specifically amended by the provisions of this Amendment set forth above, all
of the Loan Documents remain in full force and effect.   The
Borrower and Guarantors reaffirm and ratify all of their respective obligations
to Agent Bank and the Banks under all of the Loan Documents, as amended and
modified hereby, including, but not limited to, the Loan Agreement, the
Revolving Credit Notes, the Security Agreement, the Guaranty Agreement, and all
other agreements, documents and instruments now or hereafter evidencing and/or
pertaining to the Loan Agreement.  Each reference to all or any of the
Loan Documents contained in any other of the Loan Documents shall be deemed to
be a reference to such Loan Document, as modified hereby.

      
        
           

        

        
          15

          
            

          

        

        
           

        

      

      

      4.           WAIVER OF CERTAIN EVENTS OF
DEFAULT BY THE AGENT BANK AND THE BANKS.    The Agent
Bank and the Banks hereby grant a limited waiver to the Borrower with respect to
the Failures as in effect on the date of this Amendment under the terms of the
Loan Agreement as in effect prior to this Amendment.  By virtue of
this waiver, the Administrative Agent and the Banks agree that they will not
regard the Failures as Potential Defaults or Events of Default.  This
waiver is specifically limited to the Failures, is not a waiver of any other
breaches or failures, and shall not establish a course of dealing or be
construed as evidence of any willingness on the part of the Agent Bank or the
Banks to grant future waivers or consents, should any be requested.

      

      5.           WAIVER OF
SPECIAL DAMAGES; RELEASE BY THE BORROWER AND THE GUARANTORS. THE BORROWER AND THE GUARANTORS
WAIVE, TO THE MAXIMUM EXTENT NOT PROHIBITED BY LAW, ANY RIGHT THEY MAY HAVE TO
CLAIM OR RECOVER FROM THE AGENT BANK OR THE BANKS IN ANY LEGAL ACTION OR
PROCEEDING ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL
DAMAGES.  AS A
MATERIAL INDUCEMENT TO THE AGENT BANK AND THE BANKS TO ENTER INTO THIS AMENDMENT, WHICH
THE BORROWER AND THE GUARANTORS HAVE DETERMINED TO BE TO THEIR DIRECT ADVANTAGE
AND BENEFIT, THE BORROWER AND THE GUARANTORS HEREBY RELEASE AND DISCHARGE THE
AGENT BANK, THE BANKS
AND THEIR PAST AND
PRESENT EMPLOYEES, AGENTS, ATTORNEYS, OFFICERS AND DIRECTORS AND ALL AFFILIATES
THEREFROM (COLLECTIVELY, THE “BANK RELEASEES”) FROM ANY AND ALL CLAIMS,
LIABILITIES, DEMANDS, ACTIONS, AND CAUSES OF ACTIONS OF ANY KIND WHATSOEVER,
WHETHER KNOWN OR UNKNOWN, CONTINGENT OR NON-CONTINGENT, LIQUIDATED OR
UNLIQUIDATED, WHICH IN ANY WAY RELATE TO ANY EVENT, CIRCUMSTANCE, ACTION, OR
FAILURE TO ACT FROM THE BEGINNING OF TIME TO THE DATE THIS AMENDMENT IS ACTUALLY
DELIVERED RELATED TO THE LOAN DOCUMENTS, THIS AMENDMENT, ANY COURSE OF DEALING
OR OTHER BUSINESS RELATIONSHIP (WHETHER OR NOT RELATED TO THE LOAN DOCUMENTS)
AND/OR ANY OTHER CREDIT OR OTHER BUSINESS RELATIONSHIP AMONG THE PARTIES (OR ANY
ONE OR MORE OF THEM) TO THIS AMENDMENT.  THE BORROWER AND THE
GUARANTORS HEREBY ACKNOWLEDGE AND AGREE THAT THE BANK RELEASEES AT ALL TIMES
HAVE ACTED IN GOOD FAITH AND IN COMPLIANCE WITH ALL OBLIGATIONS THAT MIGHT HAVE
BEEN IMPOSED UNDER ANY AGREEMENTS BETWEEN OR AMONG, OR OTHER BUSINESS
RELATIONSHIP BETWEEN OR AMONG, THE BANK RELEASEES, THE BORROWER AND THE
GUARANTORS.  THE BORROWER AND THE GUARANTORS FURTHER ACKNOWLEDGE AND
AGREE THAT THE BANK RELEASEES HAVE TAKEN NO ACTION, AND HAVE NOT FAILED TO TAKE
ANY ACTION, WHICH WOULD IMPAIR ANY COLLATERAL SECURING ANY OBLIGATIONS OF ANY OF
THEM TO THE BANK RELEASEES OR ANY RIGHTS OR ACTIONS THAT THE BANK RELEASEES
MIGHT HAVE AGAINST ANY OF THE BORROWER OR THE GUARANTORS. THIS RELEASE IS
NON-CONTINGENT AND ABSOLUTE.

      
        
           

        

        
          16

          
            

          

        

        
           

        

      

      

      6.           REPRESENTATIONS, WARRANTIES,
AND COVENANTS OF THE BORROWER.  To induce the Agent Bank and
the Banks to enter into this Amendment, the Borrower represents and warrants to
Agent Bank and the Banks as follows:

      

      (a)          The
Borrower has full power, authority, and capacity to enter into this Amendment,
and this Amendment constitutes the legal, valid and binding obligation of the
Borrower, enforceable against it in accordance with its respective
terms.

       

      (b)         No
uncured Event of Default under the Revolving Credit Notes or any of the other
Loan Documents has occurred which continues unwaived by the Agent Bank, and no
Potential Default exists as of the date hereof.

      

      (c)         The
Person executing this Amendment on behalf of the Borrower is duly authorized to
do so.

      

      (d)         The
representations and warranties made by the Borrower in any of the Loan Documents
are hereby remade and restated as of the date hereof.

      

      (e)          Except
as previously disclosed to the Agent Bank or disclosed in the Borrower’s filings
with the Securities and Exchange Commission, copies of which have been provided
previously to the Agent Bank, there are no material actions, suits, legal,
equitable, arbitration or administrative proceedings pending or threatened
against the Borrower, the adverse determination of which could have a material
adverse effect on the Loan Documents, the business operations or financial
condition of the Borrower and the Guarantors taken as a whole, or the ability of
the Borrower to fulfill its obligations under the Loan Documents.

      

      (f)          The
Borrower makes the representations and warranties set forth in 3.7 of the NPA
Amendment to the Banks.

      

      (g)         The 2009 Monthly Business
Plan provides a reasonable estimate of the future financial performance
of the Borrower and the Guarantors for the periods set forth
therein.  The 2009 Monthly Business Plan has been prepared on the
basis of the assumptions set forth therein, which the Borrower believes are fair
and reasonable in light of current and reasonably foreseeable business
conditions at the time submitted to the Banks.

      

      7.           REPRESENTATIONS, WARRANTIES,
AND COVENANTS OF THE GUARANTORS.  To induce the Agent Bank and
the Banks to enter into this Amendment, the Guarantors represent and warrant to
the Agent Bank and the Banks as follows:

      
        
           

        

        
          17

          
            

          

        

        
           

        

      

      

      (a)         Each
Guarantor has full power, authority, and capacity to enter into this Amendment,
and this Amendment constitutes the legal, valid and binding obligations of such
Guarantor, enforceable against such Guarantor in accordance with their
terms.

      

      (b)         The
Person executing this Amendment on behalf of each Guarantor is duly authorized
to do so.

      

      (c)         The
representations and warranties made by each Guarantor in any of the Loan
Documents are hereby remade and restated as of the date hereof.

      

      (d)         Except
as previously disclosed to the Agent Bank, there are no material actions, suits,
legal, equitable, arbitration or administrative proceedings pending or
threatened against any Guarantor, the adverse determination of which could have
a material adverse effect on the Loan Documents, the business operations or
financial condition of the Borrower and the Guarantors taken as a whole or the
ability of any Guarantor to fulfill its obligations under the Guaranty
Agreement.

      

      (e)         The
Guarantors make the representations and warranties set forth in 3.7 of the NPA
Amendment to the Banks.

      

      8.           CONDITIONS
PRECEDENT.   The obligations of the Agent Bank and the
Banks under this Amendment (including but not limited to the amendment of the
definition of the Revolving Loan Commitment Termination Date and the waivers
provided in Section 4 of this Amendment) are expressly conditioned upon, and
subject to the following:

      

      (a)         the
execution and delivery by the Borrower and the Guarantors of this
Amendment;

      

      (b)         the
payment to the Agent Bank, for the benefit of the Banks, of the Waiver Fee in
the amount of $375,000, plus payment of Agent Bank’s counsel fees in preparation
and closing of this Amendment and the documents associated with this Amendment
and any other out-of-pocket costs;

      

      (c)         Delivery
to the Agent Bank of a copy of the certificate of the corporate secretary of
Borrower certifying resolutions of the Borrower’s board of directors to the
effect that execution, delivery and performance of this Amendment have been duly
authorized and as to the incumbency of those authorized to execute and deliver
this Amendment and all other documents to be executed in connection
herewith;

      

      (d)         With
respect to each corporate Guarantor, delivery to the Agent Bank of a copy of the
certificate of the corporate secretary of each corporate Guarantor certifying
resolutions of such Guarantor’s board of directors to the effect that execution,
delivery and performance of this Amendment have been duly authorized and as to
the incumbency of those authorized to execute and deliver this Amendment and all
other documents to be executed in connection herewith;

      
        
           

        

        
          18

          
            

          

        

        
           

        

      

      

      (e)         With
respect to each non-corporate Guarantor, delivery to the Agent Bank of a copy of
the certificate of the Secretary or other appropriate representative of such
Guarantor (i) certifying as to the authenticity, completeness and accuracy of,
and attaching copies of the written consent of the managers of such Guarantor
authorizing the execution, delivery and performance of this Amendment, and (ii)
certifying the names and true signatures of the officers of such Guarantor
authorized to execute and deliver on behalf of such Guarantor this
Amendment;

      

      (f)      
   Delivery to the Agent Bank of opinions of counsel to Borrower
and the Guarantors, satisfactory to the Agent Bank;

      

      (g)         The
Agent Bank shall have reviewed the Fourth Amendment to Note Purchase Agreement
between the Borrower and the holders of the $55,000,000 Senior Notes
(the “NPA Amendment”), the provisions of which shall be in form and
substance satisfactory to the Agent Bank and the Banks (which provisions shall
include, but not be limited to, provisions extending the maturity of the 7.25%
Senior Notes, Series A from June 30, 2009 to at least January 15, 2010 and
provisions eliminating any requirement for a minimum amount of Revolving Loan
Commitments following pro rata reductions of the Revolving Loan Commitments and
the Senior Notes), and such Fourth Amendment to Note Purchase Agreement shall
have been executed by the Borrower and the holders of the $55,000,000 Senior
Notes;

      

      (h)         The
Borrower shall have received, and delivered to the Banks, the final drafts of
the audited financial statements for its 2008 fiscal year together with the
final drafts of the certificates and auditors’ opinion as required by Section
6.3 of the Loan Agreement, which financial statements and opinion shall be not
subject to any footnote or qualification which specifies that the Borrower may
not continue as a going concern for the year 2009; and

      

      (i)        
 the Borrower shall have delivered to the Banks a copy of the Borrower’s
2009 Monthly Business Plan certified as true, correct and complete and in full
force and effect by a Responsible Officer of the Borrower, and such plan be in
form and substance satisfactory to the Banks.

      

      9.           MISCELLANEOUS.

      

      A           Final Financial
Statements.  The Borrower shall deliver to the Banks, within
two Business Days after the 2009A Amendment Closing Date, the final versions of
the audited financial statements for its 2008 fiscal year together with the
final versions of the certificates and auditors’ opinion as required by Section
6.3 of the Loan Agreement, which financial statements and opinion shall be not
subject to any footnote or qualification which specifies that the Borrower may
not continue as a going concern for the year 2009.   Failure to
comply with this provision shall be an Event of Default.

      
        
           

        

        
          19

          
            

          

        

        
           

        

      

      

      B.           Illegality.  In
case any one or more of the provisions contained in this Amendment should be
invalid, illegal or unenforceable in any respect, the validity, legality and
enforceability of the remaining provisions contained herein shall not in any way
be affected or impaired thereby.

      

      C.          Changes in
Writing.  No modification, amendment or waiver of any provision
of this Amendment nor consent to any departure by the Borrower or any of the
Guarantors therefrom, will in any event be effective unless the same is in
writing and signed by the Agent Bank, and then such waiver or consent shall be
effective only in the specific instance and for the purpose for which
given.

      

      D.          Successors and
Assigns.  This Amendment will be binding upon and inure to the
benefit of the Borrower, the Guarantors, the Agent Bank and the Banks and their
respective successors and assigns; provided, however, that neither
the Borrower nor the Guarantors may assign this Amendment in whole or in part
without the prior written consent of the Agent Bank, and the Agent Bank and the
Banks at any time may assign this Amendment in whole or in part, as provided in
Section 11 of the Loan Agreement.

      

      E.           Counterparts.  This
Amendment may be signed in any number of counterpart copies and by the parties
hereto on separate counterparts, but all such copies shall constitute one and
the same instrument.

      

      [THE
REMAINDER OF THIS PAGE IS LEFT BLANK ON PURPOSE]

      
        
           

        

        
          20

          
            

          

        

        
           

        

      

       

      
        Exhibit
10.1

      

       

      IN
WITNESS WHEREOF, the Agent Bank, the Documentation Agent, each Bank, the
Borrower and each Guarantor has caused this Amendment to be duly executed as of
the day and year first above written but actually on the dates set forth
below.

      

      
        
          
            
              
                
                  
                    	
                            JP
      MORGAN  CHASE BANK, N.A.

                          
	
                            as
      Administrative Agent, 

                            Syndications
      Agent and Collateral 

                            Agent

                          
	 
      	 
      	 
	
                            By

                          	
                            /s/ Michael E. Lewis

                          	 
	 
      	
                            Michael
      E. Lewis

                          	 
	 
      	
                            Senior
      Vice President

                          	 

                  

                

              

            

          

        

      

      

      
        
          
            
              
                
                  	
                          Date:

                        	
                             

                        	 

                

              

            

          

        

      

      

      
        
          
            
              
                
                  
                    
                      	
                              BANK
      OF AMERICA, N.A.,

                            
	
                              successor
      by merger to

                            
	
                              LaSalle
      Bank National Association,

                              as
      Documentation Agent

                            
	 
      	 
      	 
	
                              By

                            	
                              /s/ Thomas P. Sullivan

                            	 
	 
      	
                              Thomas
      P. Sullivan

                            	 
	 
      	
                              Vice
      President

                            	 

                    

                  

                

              

            

          

        

      

      

      
        
          
            
              
                
                  
                    	
                            Date:

                          	
                            3.30.09

                          	 

                  

                

              

            

          

        

      

      

      
        
          
            
              
                
                  
                    
                      	
                              JPMORGAN  CHASE
      BANK, N.A. 

                              as
      a Bank

                            
	 
      
	
                              By

                            	
                              /s/ Michael E. Lewis

                            	 
	 
      	
                              Michael
      E. Lewis

                            	 
	 
      	
                              Senior
      Vice President

                            	 

                    

                  

                

              

            

          

        

      

      

      
        
          
            
              
                
                  
                    	
                            Date:

                          	 
      	 

                  

                

              

            

          

        

      

      

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	
                                    BANK
      OF AMERICA, N.A.

                                  
	
                                    Successor
      by merger to

                                  
	
                                    LaSalle
      Bank National Association

                                  
	
                                    as
      a Bank

                                  
	 
      
	
                                    By

                                  	
                                    /s/ Thomas P. Sullivan

                                  	 
	 
      	
                                    Thomas
      P. Sullivan

                                  	 
	 
      	
                                    Vice
      President

                                  	 

                          

                        

                      

                    

                  

                

              

            

          

        

      

      

      
        
          
            
              
                
                  	
                          Date:

                        	
                          3.30.09

                        	 

                

              

            

          

        

      

      
        
           

        

        
          21

          
            

          

        

        
           

        

      

      

      
        
          
            
              
                
                  
                    
                      	
                              NATIONAL
      CITY BANK

                            
	
                              as
      a Bank

                            
	 
      
	
                              By

                            	
                              /s/ John A. Grohovsky

                            	 
	 
      	
                              John
      A. Grohovsky

                            	 
	 
      	
                              Vice
      President

                            	 

                    

                  

                

              

            

          

        

      

      

      
        
          
            
              
                
                  	
                          Date:

                        	
                          03/31/09

                        	 

                

              

            

          

        

      

      
        
           

        

        
          22

          
            

          

        

        
           

        

      

    

    
      
        
          
            
              
                
                  	
                          SYPRIS
      SOLUTIONS, INC.

                        
	
                          (the
      “Borrower”)

                        
	 
      	 
      	 
	
                          By

                        	
                           /s/ Jeffrey T. Gill

                        	 
	 
      	
                                Jeffrey
      T. Gill

                        	 
	 
      	
                                President
      and CEO

                        	 

                

              

            

          

        

      

    

    

    
      
        
          
            
              
                	
                        Date:

                      	
                            March 31,
      2009

                      	 

              

            

          

        

      

    

    

    
      
        
          
            
              
                	
                        SYPRIS
      TEST &

                        MEASUREMENT,
      INC. a Delaware

                        corporation
      (“ST&M”)

                      
	
                        (as
      a “Guarantor”)

                      
	 
      	 
	
                        By

                      	
                         /s/ Jeffrey T. Gill

                      	 
	 
      	
                              Jeffrey
      T. Gill

                      	 
	 
      	
                              Chairman

                      	 

              

            

          

        

      

    

    

    
      
        
          
            
              
                	
                        Date:

                      	
                            March 31,
      2009

                      	 

              

            

          

        

      

    

    

    
      
        
          
            
              
                
                  	
                          SYPRIS
      TECHNOLOGIES, INC.

                        
	
                          a
      Delaware corporation (“ST”)

                        
	
                          (as
      a “Guarantor”)

                        
	 
      	 
      	 
	
                          By

                        	
                           /s/ Jeffrey T. Gill

                        	 
	 
      	
                                Jeffrey
      T. Gill

                        	 
	 
      	
                                Chairman

                        	 

                

              

            

          

        

      

    

    

    
      
        
          
            	
                    Date:

                  	
                        March 31,
      2009

                  	 

          

        

      

    

    

    
      
        
          
            
              
                
                  
                    	
                            SYPRIS
      ELECTRONICS, LLC

                          
	
                            a
      Delaware limited liability

                          
	
                            company
      (“SE”)

                          
	
                            (as
      a “Guarantor”)

                          
	 
      	 
      	 
	
                            By

                          	
                             /s/ Jeffrey T. Gill

                          	 
	 
      	
                                  Jeffrey
      T. Gill

                          	 
	 
      	
                                  Chairman

                          	 

                  

                

              

            

          

        

      

    

    

    
      
        
          
            
              	
                      Date:

                    	
                          March 31,
      2009

                    	 

            

          

        

      

    

     

    
      
         

      

      
        23

        
          

        

      

      
         

      

    

    

    
      
        
          
            
              
                
                  	
                          SYPRIS
      DATA SYSTEMS, INC.

                        
	
                          a
      Delaware corporation (“SDS”)

                        
	
                          (as
      a “Guarantor”)

                        
	 
      	 
      	 
	
                          By

                        	
                           /s/ Jeffrey T. Gill

                        	 
	 
      	
                                Jeffrey
      T. Gill

                        	 
	 
      	
                                Chairman

                        	 

                

              

            

          

        

      

    

    

    
      
        
          
            
              	
                      Date:

                    	
                          March 31,
      2009

                    	 

            

          

        

      

    

    

    
      
        
          
            
              
                
                  	
                          SYPRIS
      TECHNOLOGIES MARION, LLC

                        
	
                          a
      Delaware limited liability company

                        
	
                          (“Marion”)
      (as a “Guarantor”)

                        
	 
      	 
      	 
	
                          By

                        	
                           /s/ Jeffrey T. Gill

                        	 
	 
      	
                                Jeffrey
      T. Gill

                        	 
	 
      	
                                Chairman

                        	 

                

              

            

          

        

      

    

    

    
      
        
          
            
              	
                      Date:

                    	
                          March 31,
      2009

                    	 

            

          

        

      

    

     

    
      
         

      

      
        24

        
          

        

      

      
         

      

    

    

    
      
        
          
            
              
                
                  
                    	
                            SYPRIS
      TECHNOLOGIES

                            KENTON,
      INC.

                          
	
                            a
      Delaware corporation (“STK”)

                          
	
                            (as
      a “Guarantor”)

                          
	 
      	 
      	 
	
                            By

                          	
                             /s/ Jeffrey T. Gill

                          	 
	 
      	
                                  Jeffrey
      T. Gill

                          	 
	 
      	
                                  Chairman

                          	 

                  

                

              

            

          

        

      

    

    

    
      
        
          
            
              	
                      Date:

                    	
                          March 31,
      2009

                    	 

            

          

        

      

    

    

    
      
        
          
            
              
                
                  	
                          SYPRIS
      TECHNOLOGIES

                        
	
                          MEXICAN
      HOLDINGS, LLC

                        
	
                          a
      Delaware limited liability company

                        
	
                          (“STMH”)
      (as a “Guarantor”)

                        	 
	 
      	 
      	 
	
                          By

                        	
                           /s/ Jeffrey T. Gill

                        	 
	 
      	
                                Jeffrey
      T. Gill

                        	 
	 
      	
                                Chairman

                        	 

                

              

            

          

        

      

    

    

    
      
        
          
            
              	
                      Date:

                    	
                          March 31,
      2009

                    	 

            

          

        

      

    

     

    
      
         

      

      
        25

        
          

        

      

      
         

      

    

    SCHEDULE
1.1

    

    LIST OF
BANKS

     

    JPMORGAN
CHASE BANK, N.A.

    
      IN
1-0136

    

    
      1 East
Ohio Street

    

    
      Indianapolis,
IN  46277-0136

    

    
      Attention:
Special Credits Department

    

    

    BANK OF
AMERICA, N.A.

    successor
by merger to

    LaSalle
Bank National Association

    231 S.
LaSalle Street

    Chicago,
Illinois 60697

    Attention:
Michael J. Hammond, Senior Vice President

    

    NATIONAL
CITY BANK

    101 S.
Fifth Street

    Louisville,
KY  40202

    Attention:
John A. Grohovsky, Vice President

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    SCHEDULE
1.2

    

    LIST OF
GUARANTORS

    

    SYPRIS
TEST & MEASUREMENT, INC.,

    a
Delaware corporation (“ST&M”)

    6120
Hanging Moss Road

    Orlando,
Florida 32807

    Attention:
President

    

    SYPRIS
TECHNOLOGIES, INC.,

    a
Delaware corporation (“ST”)

    2820 West
Broadway

    Louisville,
Kentucky 40211

    Attention:
President

    

    SYPRIS
ELECTRONICS, LLC, a Delaware limited

    liability
company (“SE”)

    10901
Malcolm McKinley Drive

    Tampa,
Florida 33612

    Attention:
President

    

    SYPRIS
DATA SYSTEMS, INC.,

    a
Delaware corporation (“SDS”)

    605 East
Huntington Dr.

    Monrovia,
California 91016

    Attention:  President

    

    SYPRIS
TECHNOLOGIES MARION, LLC,

    a
Delaware limited liability company (“Marion”)

    1550
Marion Agosta Road

    Marion,
Ohio 43302

    Attn:
President

    

    SYPRIS
TECHNOLOGIES KENTON, INC.,

    a
Delaware corporation (“STK”)

    101
Bullitt Lane, Suite 450

    Louisville,
Kentucky  40222

    Attention:
President

    

    SYPRIS
TECHNOLOGIES MEXICAN HOLDINGS, LLC

    a
Delaware limited liability company (“STMH”)

    101
Bullitt Lane, Suite 450

    Louisville,
Kentucky  40222

    Attention:
President

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    SCHEDULE
2.1

    

    SCHEDULE
OF REVOLVING LOAN COMMITMENTS AND

    REVOLVING
CREDIT FACILITY PRO RATA SHARES

    

    The
maximum amount of the Revolving Credit Facility is $50,000,000.

    

    
      
        
          	 
      	 	
                  Revolving

                	 	 	
                  Revolving

                	 
	 
      	 	
                  Credit
      Facility

                	 	 	
                  Loan

                	 
	
                  Name of Bank

                	 	
                  Pro Rata Share

                	 	 	
                  Commitment

                	 
	 
      	 	 	 	 	 	 
	
                  JP
      Morgan Chase Bank, NA

                	 	 	46.0	%	 	$	23,000,000.00	 
	 
      	 	 	 	 	 	 	 	 
	
                  Bank
      of America, N.A., successor by merger to LaSalle Bank National
      Association

                	 	 	38.0	%	 	$	19,000,000.00	 
	 
      	 	 	 	 	 	 	 	 
	
                  National
      City Bank

                	 	 	16.0	%	 	$	8,000,000.00	 
	 
      	 	 	 	 	 	 	 	 
	
                  Totals

                	 	 	100	%	 	$	50,000,000.00	 

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    SCHEDULE
7.10

    

    CAPITAL
EXPENDITURE SCHEDULE

    

    
      
        
          
            
              
                
                  
                    
                      	
                              Category

                            	 	
                              Total

                            	 
	
                              Capacity

                            	 	$	1,088,522	 
	
                              Cost
      savings

                            	 	 	1,059,473	 
	
                              Maintenance
      & HSE

                            	 	 	2,406,383	 
	
                              IT

                            	 	 	531,060	 
	
                              Bus.
      Process

                            	 	 	142,500	 
	
                              Restructuring
      capital expenditures

                            	 	 	2,976,859	 
	
                              Total

                            	 	$	8,204,797	 

                    

                  

                

              

            

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
A

    

    FORM
OF COMPLIANCE CERTIFICATE

    

    This Compliance Certificate is being
delivered to JPMorgan Chase Bank, N.A., as Agent Bank, pursuant to Section 6.3C
of that certain Amended and Restated Loan Agreement dated as of April 6, 2007,
as amended, among Sypris Solutions, Inc. as Borrower (the “Borrower”), certain
Guarantors (as defined in the Loan Agreement), the Agent Bank and the Banks (as
defined in the Loan Agreement) (together with all amendments, modifications and
supplements thereto and all restatements thereof, the “Loan
Agreement”).  All capitalized terms used herein without definition
shall have the meanings assigned to those terms in the Loan
Agreement.  The undersigned officer, on behalf of the Borrower,
certifies that as of the last day of the most recently ended Fiscal Quarter of
the Borrower dated __________, 20___ (the “Compliance Date”):

    

    1.           EBITDA.  The
Borrower’s EBITDA for the Applicable Period (defined in Section 2 below),
determined as of the Compliance Date was _________, calculated as
follows:

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                	 
      	
                                        (a)

                                      	
                                        Net
      Income

                                      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                                        (b)

                                      	
                                        Interest
      Expense

                                      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                                        (c)

                                      	
                                        provisions
      for taxes based on income

                                      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                                        (d)

                                      	
                                        depreciation

                                      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                                        (e)

                                      	
                                        amortization

                                      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                                        (f)

                                      	
                                        non-cash
      stock compensation

                                      	 
      	 
      
	 
      	 
      	
                                        expense,
      reducing Net Income

                                      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                                        (g)

                                      	
                                        make-whole
      expense related

                                      	 
      	 
      
	 
      	 
      	
                                        to
      $55,000,000 Senior Notes

                                      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                                        (h)

                                      	
                                        Agent
      Bank approved

                                      	 
      	 
      
	 
      	 
      	
                                        non-cash
      charges

                                      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                                        (i)

                                      	
                                        non-cash
      gains

                                      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                                        (j)

                                      	
                                        EBITDA
      =

                                      	 
      	 
      
	 
      	 
      	
                                        sum
      of (a) + (b) + (c) + (d) + (e)

                                      	 
      	 
      
	 
      	 
      	
                                        +
      (f) + (g) + (h) - (i)

                                      	 
      	 
      

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	  	
              2. 

            	
              Cumulative
      Consolidated EBITDAR

            

    

    

    The
Borrower’s Cumulative Consolidated EBITDAR for the applicable period identified
below (the "Applicable Period") was __________, calculated as follows (in each
subsection, information is to be provided for the Applicable
Period):

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          	 
      	
                                  (a)

                                	
                                  Last
      day of Applicable Period

                                
	 
      	 
      	
                                  (the
      Applicable Period begins, in each case,

                                
	 
      	 
      	
                                  on
      April 6, and ends on one of the following:

                                
	 
      	 
      	
                                  July
      5, 2009, October 4, 2009 and

                                
	 
      	 
      	
                                  December
      31, 2009)

                                	 
      	
                                  ______  __,
      2009

                                
	 
      	 
      	 
      	 
      	 
      
	 
      	
                                  (b)

                                	
                                  Actual
      EBITDA (from 1(j))

                                	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                                  (c)

                                	
                                  Rent
      paid

                                	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                                  (d)

                                	
                                  Restructuring
      charges

                                	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                                  (e)

                                	
                                  Company
      Retained Sale Proceeds

                                	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                                  (f)

                                	
                                  Impairment
      of long-lived assets,

                                	 
      	 
      
	 
      	 
      	
                                  goodwill,
      intangibles or shares of

                                	 
      	 
      
	 
      	 
      	
                                  Dana
      entities

                                	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                                  (g)

                                	
                                  Translation
      gains or losses

                                	 
      	 
      
	 
      	 
      	
                                  due
      to changes in foreign currency

                                	 
      	 
      
	 
      	 
      	
                                  exchange
      rates

                                	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
                                  (h)

                                	
                                  Cumulative

                                	 
      	 
      
	 
      	 
      	
                                  Consolidated
      EBITDAR

                                	 
      	 
      
	 
      	 
      	
                                  sum
      of (b) + (c) + (d) + (e) + (f) + (g)

                                	 
      	  
      

                        

                      

                    

                  

                

              

            

          

        

      

    

    

    Requirement
[Section 7.7 of the Loan Agreement]:

    

    "7.7   Cumulative Consolidated EBITDAR.  The
Borrower will not permit the result of (i) EBITDA plus rent paid ("EBITDAR") for
any period beginning April 6, 2009 and ending on a date set forth in the table
below, plus, (ii)
to the extent deducted in determining such EBITDAR, restructuring charges as
recorded in the Borrower’s financial statements, as determined on a consolidated
basis in accordance with GAAP, plus (iii) the Company Retained Sale
Proceeds from any
Strategic Divestiture made during such period; plus, (iv) to the extent deducted
in determining such EBITDAR, any impairment of long-lived
assets, goodwill, intangibles or any of the shares of the stock of the Dana
Entities; and (v) plus or minus any translation gains or losses on the
Borrower’s statement of operations due to changes in foreign currency exchange
rates, all as determined on a consolidated basis in accordance with GAAP (such
result, “Cumulative Consolidated EBITDAR”), to be less than the amount set forth
opposite such date (all amounts shown in parentheses indicate negative
numbers):

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      
        
          
            
              
                
                  
                    
                      
                        	
                                If Such Date is During the Period

                                From April 6, 2009 Through:

                              	 	
                                Minimum Cumulative

                                Consolidated EBITDAR

                              	 
	 	 	 	 	 
	
                                July
      5, 2009

                              	 	$	
                                (2,000,000

                              	)
	 	 	 	 	 
	
                                October
      4, 2009

                              	 	$	
                                (500,000

                              	)
	 	 	 	 	 
	
                                December
      31, 2009

                              	 	$	
                                2,000,000

                              	 

                      

                    

                  

                

              

            

          

        

      

    

    

    
      	  	
              3. 

            	
              Adjusted Consolidated
      Net Worth

            

    

    

    The
Borrower’s Adjusted Consolidated Net Worth as of the last day of the fiscal
quarter identified below was ________:

    

    
      
        
          	
                  (a)

                	
                  Last
      day of Fiscal Quarter

                	 
      
	 
      	
                  (June
      30, 2009; September 30, 2009 or

                	 
      
	 
      	
                  December
      31, 2009)

                	
                  ______  __,
      2009

                
	 
      	 
      	 
      
	
                  (b)

                	
                  Adjusted
      Consolidated Net Worth)

                	
                  __________

                

        

      

    

    

    Requirement
[Section 7.8 of the Loan Agreement]:

     

    7.8   Adjusted Consolidated Net
Worth.  The Borrower will not permit the sum of Adjusted
Consolidated Net Worth (as defined in the Note Purchase Agreement) as of the
last day of any fiscal quarter noted in the table below plus the aggregate
amount of any impairment of long-lived assets, goodwill, intangibles or any of
the shares of the stock of the Dana Entities taken during year-to-date through
such fiscal quarter and reflected in such Adjusted Consolidated Net Worth, to be
less than the amount set forth such day in such table:

     

    
      
        
          
            
              
                
                  
                    
                      	
                              Date

                            	 	
                              Minimum Levels

                            	 
	 	 	 	 	 
	
                              July
      5, 2009

                            	 	$	55,000,000	 
	 	 	 	 	 
	
                              October
      4, 2009

                            	 	$	50,000,000	 
	 	 	 	 	 
	
                              December
      31, 2009

                            	 	$	45,000,000	 

                    

                  

                

              

            

          

        

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	  	
              4. 

            	
              Liquidity

            

    

    

    The
Borrower’s Liquidity Amount for the last five Business Days of the fiscal month
ended __________, 2009, was $________, composed of $________________________
being the Cash Amount and $___________________ being the Availability
Amount.

    

    Requirement
[Section 7.9  of the Loan Agreement]:

    

    7.9     Liquidity.  Over
the last five Business Days of each fiscal month, the sum of (1) the average
cash balance of the Borrower’s funds on hand (the “Cash Amount”) plus (2) the
average difference between (a) the Revolving Loan Commitments and (b) the sum of
(x) the entire aggregate outstanding principal balance of all Revolving Credit
Loans made by the Banks pursuant to this Loan Agreement, (y) the then existing
Letter of Credit Usage and (z) the then existing Swing Line Usage shall be
greater than or equal to the following amounts as of the following fiscal months
(such calculation, the “Availability Amount”) (the Cash Amount plus the
Availability Amount, the “Liquidity Amount”):

      

    
      
        
          
            
              
                
                  
                    
                      
                        
                          	
                                  Fiscal
      Month Ending

                                	 	
                                  Monthly
      Minimum Liquidity Amount

                                	 
	
                                  April
      5, 2009

                                	 	$	2.5
      million*	 
	
                                  May
      3, 2009

                                	 	$	2.5
      million*	 
	
                                  May
      31, 2009

                                	 	$	2.5
      million*	 
	
                                  July
      5, 2009

                                	 	$	2.5
      million*	 
	
                                  August
      2, 2009

                                	 	$	1.0
      million*	 
	
                                  August
      30, 2009

                                	 	$	1.0
      million*	 
	
                                  October
      4, 2009

                                	 	$	2.5
      million*	 
	
                                  November
      1, 2009

                                	 	$	1.0
      million*	 
	
                                  November
      29, 2009

                                	 	$	2.5
      million*	 
	
                                  December
      31, 2009

                                	 	$	6.0
      million*	 

                        

                      

                    

                  

                

              

            

          

        

      

    

    

    *Provided
that the Monthly Minimum Liquidity Amount set forth in the table above shall
automatically be increased each fiscal month, beginning the fiscal month in
which the Borrower or any Subsidiary receives a tax refund from the government
of Mexico or any State or political subdivision of Mexico (a “Mexican Tax
Refund”) by the amount of the Mexican Tax Refund.  Solely for purposes
of calculating the Cash Amount in any such fiscal month, if the Mexican Tax
Refund is received in the last five Business Days of a fiscal month, it shall be
deemed to have been received on the fourth Business Day preceding the last
Business Day of such fiscal month.  Within five Business Days of the
receipt of any Mexican Tax Refund, the Borrower shall notify the Agent
Bank.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    The
Borrower’s compliance with this provision shall be evidenced by the Borrower’s
delivery of a Compliance Certificate which is due 15 days after the end of each
fiscal month and which shall include a calculation of the Liquidity Amount,
separately setting forth the Availability Amount and the Cash Amount as
calculated for such prior month. In the event that the Borrower’s Liquidity
Amount falls below the Monthly Minimum Liquidity Amount in any fiscal month, the
Borrower shall present a reasonably detailed, written action plan to the
Lenders, no later than the delivery of its Compliance Certificate, designed to
ensure that the Liquidity Amount exceeds the Monthly Minimum Liquidity Amount
for the following fiscal month. In the event that the Borrower’s Liquidity
Amount falls below the Monthly Minimum Liquidity Amount in any two consecutive
fiscal months, such failure shall constitute an Event of Default
hereunder.”

    

    5.           Capital
Expenditures.  The Capital Expenditures incurred by the
Borrower and the Guarantors since the 2009A Amendment Closing Date were $
_____________.

    

    Requirement
[Section 7.10 of the Loan Agreement]:  Other than as set forth in
Schedule 7.10
to the 2009A Amendment to Loan Documents, The Borrower and the Guarantors shall
not incur Capital Expenditures in excess of $2,000,000 prior to the Revolving
Loan Commitment Termination Date.

    

    6.           Operating Lease
Rentals.  The Borrower’s Operating Lease Rentals incurred
during the calendar year as of the Compliance Date were $
_____________.

    

    Requirement
[Section 7.11 of the Loan Agreement]: Requirement:  Operating Lease
Rentals paid in any Fiscal Year shall not exceed $10,000,000.

    

    7.           Other
Covenants.  The Borrower has not, during the proceeding Fiscal
Quarter ending on the Compliance Date, violated any of the other covenants
contained in Sections 6 and 7 of the Loan Agreement.

    

    The undersigned officer of the Borrower
executing and delivering this Compliance Certificate on behalf of the Borrower
further certifies that he has reviewed the Loan Agreement and has no knowledge
of any event or condition which constitutes a Potential Default or an Event of
Default under the Loan Agreement or the other Loan Documents other than [if any
Potential Default or Event of Default has occurred, describe the same, the
period of existence thereof and what action the Borrower has taken or propose to
take with respect thereto].

    

    IN WITNESS THEREOF, the Borrower,
through a duly authorized officer, has executed this Compliance Certificate this
_____ day of _______________, 20__.

    

    
      
        
          
            	
                    SYPRIS
      SOLUTIONS, INC.

                  
	 
      
	
                    By

                  	 
      
	 
      	 
      
	
                    Title:

                  	 
       
	
                    (the
      “Borrower”)

                  

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
B

    

    BUSINESS
PLAN

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

      Sypris Solutions Inc. and Subsidiaries

      Balance
Sheet

      Monthly
Data

      

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        	 
      	 	
                                                BASE
      CASE WITH ST REVENUE @ 155M

                                              	 
	 
      	 	
                                                2009
      Forecast

                                              	 
	 
      	 	
                                                Jan

                                              	 	 	
                                                Feb

                                              	 	 	
                                                Mar

                                              	 	 	
                                                Apr

                                              	 	 	
                                                May

                                              	 	 	
                                                Jun

                                              	 	 	
                                                Jul

                                              	 	 	
                                                Aug

                                              	 	 	
                                                Sep

                                              	 	 	
                                                Oct

                                              	 	 	
                                                Nov

                                              	 	 	
                                                Dec

                                              	 
	
                                                ASSETS:

                                              	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                Cash

                                              	 	 	3,000	 	 	 	3,000	 	 	 	3,000	 	 	 	3,000	 	 	 	3,000	 	 	 	3,000	 	 	 	3,000	 	 	 	3,000	 	 	 	3,000	 	 	 	3,000	 	 	 	3,000	 	 	 	3,000	 
	
                                                Net
      accounts receivable

                                              	 	 	39,829	 	 	 	46,702	 	 	 	42,595	 	 	 	41,550	 	 	 	40,653	 	 	 	39,785	 	 	 	40,814	 	 	 	39,421	 	 	 	40,707	 	 	 	44,779	 	 	 	44,751	 	 	 	43,040	 
	
                                                Net
      inventory

                                              	 	 	49,505	 	 	 	45,628	 	 	 	43,462	 	 	 	40,802	 	 	 	39,654	 	 	 	38,121	 	 	 	38,864	 	 	 	39,084	 	 	 	37,473	 	 	 	36,913	 	 	 	37,120	 	 	 	36,316	 
	
                                                Other
      current assets

                                              	 	 	12,099	 	 	 	10,817	 	 	 	11,942	 	 	 	11,936	 	 	 	12,140	 	 	 	12,341	 	 	 	11,625	 	 	 	11,402	 	 	 	11,238	 	 	 	11,086	 	 	 	10,971	 	 	 	10,692	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                Total
      current assets

                                              	 	 	104,433	 	 	 	106,147	 	 	 	100,999	 	 	 	97,288	 	 	 	95,447	 	 	 	93,247	 	 	 	94,303	 	 	 	92,907	 	 	 	92,419	 	 	 	95,777	 	 	 	95,842	 	 	 	93,048	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                Marketable
      securities

                                              	 	 	2,769	 	 	 	2,769	 	 	 	2,769	 	 	 	2,769	 	 	 	2,769	 	 	 	2,769	 	 	 	2,769	 	 	 	2,769	 	 	 	2,769	 	 	 	2,769	 	 	 	2,769	 	 	 	2,769	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                Property,
      plant & equipment

                                              	 	 	254,203	 	 	 	254,955	 	 	 	255,851	 	 	 	257,471	 	 	 	258,675	 	 	 	259,246	 	 	 	259,856	 	 	 	260,657	 	 	 	261,109	 	 	 	261,572	 	 	 	262,038	 	 	 	262,833	 
	
                                                Accumulated
      depreciation

                                              	 	 	(153,246	)	 	 	(154,845	)	 	 	(156,512	)	 	 	(158,118	)	 	 	(159,659	)	 	 	(161,283	)	 	 	(162,905	)	 	 	(164,521	)	 	 	(166,127	)	 	 	(167,730	)	 	 	(169,326	)	 	 	(170,910	)
	
                                                Net
      property, plant & equipment

                                              	 	 	100,957	 	 	 	100,109	 	 	 	99,339	 	 	 	99,352	 	 	 	99,016	 	 	 	97,962	 	 	 	96,951	 	 	 	96,136	 	 	 	94,981	 	 	 	93,842	 	 	 	92,712	 	 	 	91,923	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                Goodwill

                                              	 	 	13,837	 	 	 	13,837	 	 	 	13,837	 	 	 	13,837	 	 	 	13,837	 	 	 	13,837	 	 	 	13,837	 	 	 	13,837	 	 	 	13,837	 	 	 	13,837	 	 	 	13,837	 	 	 	13,837	 
	
                                                Other
      assets

                                              	 	 	11,608	 	 	 	10,910	 	 	 	10,766	 	 	 	10,745	 	 	 	10,995	 	 	 	10,809	 	 	 	10,739	 	 	 	10,669	 	 	 	10,635	 	 	 	10,629	 	 	 	10,546	 	 	 	10,462	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                Total
      assets

                                              	 	 	233,604	 	 	 	233,773	 	 	 	227,710	 	 	 	223,992	 	 	 	222,065	 	 	 	218,625	 	 	 	218,600	 	 	 	216,319	 	 	 	214,642	 	 	 	216,855	 	 	 	215,707	 	 	 	212,039	 

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

      

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	
                                    LIABILITIES
      AND SHAREHOLDERS' EQUITY:

                                  	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                    Accounts
      payable

                                  	 	 	39,370	 	 	 	39,274	 	 	 	38,968	 	 	 	35,154	 	 	 	37,812	 	 	 	36,686	 	 	 	36,785	 	 	 	37,064	 	 	 	39,494	 	 	 	40,090	 	 	 	41,564	 	 	 	42,422	 
	
                                    Accrued
      liabilities

                                  	 	 	28,581	 	 	 	28,977	 	 	 	25,340	 	 	 	24,285	 	 	 	22,461	 	 	 	23,453	 	 	 	22,412	 	 	 	22,026	 	 	 	21,441	 	 	 	21,160	 	 	 	20,729	 	 	 	21,107	 
	
                                    Current
      portion of long-term debt

                                  	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                    Total
      current liabilities

                                  	 	 	67,951	 	 	 	68,251	 	 	 	64,308	 	 	 	59,439	 	 	 	60,273	 	 	 	60,139	 	 	 	59,197	 	 	 	59,091	 	 	 	60,935	 	 	 	61,249	 	 	 	62,293	 	 	 	63,529	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                    Revolving
      credit facility

                                  	 	 	34,940	 	 	 	40,636	 	 	 	42,394	 	 	 	46,100	 	 	 	45,946	 	 	 	45,063	 	 	 	47,049	 	 	 	46,899	 	 	 	44,905	 	 	 	46,491	 	 	 	44,653	 	 	 	41,329	 
	
                                    Senior
      notes

                                  	 	 	30,000	 	 	 	30,000	 	 	 	30,000	 	 	 	30,000	 	 	 	30,000	 	 	 	30,000	 	 	 	30,000	 	 	 	30,000	 	 	 	30,000	 	 	 	30,000	 	 	 	30,000	 	 	 	30,000	 
	
                                    Other
      liabilities

                                  	 	 	46,806	 	 	 	46,503	 	 	 	46,271	 	 	 	46,385	 	 	 	46,650	 	 	 	46,941	 	 	 	46,555	 	 	 	46,219	 	 	 	45,911	 	 	 	45,670	 	 	 	45,481	 	 	 	45,320	 
	
                                    Intercompany
      account

                                  	 	 	0	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	0	 	 	 	(0	)	 	 	(0	)	 	 	(0	)	 	 	0	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                    Total
      liabilities

                                  	 	 	179,697	 	 	 	185,390	 	 	 	182,973	 	 	 	181,923	 	 	 	182,869	 	 	 	182,142	 	 	 	182,801	 	 	 	182,209	 	 	 	181,750	 	 	 	183,411	 	 	 	182,426	 	 	 	180,179	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                    Common
      stock

                                  	 	 	195	 	 	 	195	 	 	 	195	 	 	 	195	 	 	 	195	 	 	 	195	 	 	 	195	 	 	 	195	 	 	 	195	 	 	 	195	 	 	 	195	 	 	 	195	 
	
                                    Additional
      paid-in capital

                                  	 	 	146,781	 	 	 	146,824	 	 	 	146,866	 	 	 	146,908	 	 	 	146,951	 	 	 	146,993	 	 	 	147,035	 	 	 	147,077	 	 	 	147,120	 	 	 	147,162	 	 	 	147,204	 	 	 	147,247	 
	
                                    Reserved
      for treasury stock

                                  	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
                                    Retained
      earnings

                                  	 	 	(72,482	)	 	 	(76,349	)	 	 	(79,937	)	 	 	(82,648	)	 	 	(85,563	)	 	 	(88,318	)	 	 	(89,044	)	 	 	(90,776	)	 	 	(92,036	)	 	 	(91,526	)	 	 	(91,732	)	 	 	(93,194	)
	
                                    Accumulated
      OCI

                                  	 	 	(20,586	)	 	 	(22,286	)	 	 	(22,386	)	 	 	(22,386	)	 	 	(22,386	)	 	 	(22,386	)	 	 	(22,386	)	 	 	(22,386	)	 	 	(22,386	)	 	 	(22,386	)	 	 	(22,386	)	 	 	(22,386	)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                    Total
      shareholders' equity

                                  	 	 	53,908	 	 	 	48,383	 	 	 	44,738	 	 	 	42,069	 	 	 	39,196	 	 	 	36,483	 	 	 	35,799	 	 	 	34,110	 	 	 	32,892	 	 	 	33,444	 	 	 	33,280	 	 	 	31,860	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                    Total
      liabilities & shareholders' equity

                                  	 	 	233,604	 	 	 	233,773	 	 	 	227,710	 	 	 	223,992	 	 	 	222,065	 	 	 	218,625	 	 	 	218,600	 	 	 	216,319	 	 	 	214,642	 	 	 	216,855	 	 	 	215,707	 	 	 	212,039	 

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

      Sypris
Solutions Inc. and Subsidiaries

      Income
Statement

      Quarterly
Data

      

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        
                                                          
                                                            
                                                              
                                                                
                                                                  
                                                                    
                                                                      
                                                                        
                                                                          
                                                                            
                                                                              
                                                                                
                                                                                  
                                                                                    
                                                                                      
                                                                                        
                                                                                          
                                                                                            
                                                                                              
                                                                                                
                                                                                                  
                                                                                                    
                                                                                                      
                                                                                                        
                                                                                                          
                                                                                                            
                                                                                                              
                                                                                                                
                                                                                                                  
                                                                                                                    
                                                                                                                      
                                                                                                                        
                                                                                                                          
                                                                                                                            
                                                                                                                              
                                                                                                                                
                                                                                                                                  
                                                                                                                                    
                                                                                                                                      
                                                                                                                                        
                                                                                                                                          
                                                                                                                                            
                                                                                                                                              
                                                                                                                                                
                                                                                                                                                  
                                                                                                                                                    
                                                                                                                                                      
                                                                                                                                                        
                                                                                                                                                          
                                                                                                                                                            
                                                                                                                                                              
                                                                                                                                                                	 
      	 	
                                                                                                                                                                        BASE
      CASE WITH ST REVENUE @ 155M

                                                                                                                                                                      	 	 	
                                                                                                                                                                        BASE
      CASE WITH ST REVENUE @ 155M

                                                                                                                                                                      	 
	 
      	 	
                                                                                                                                                                        2009
      Forecast

                                                                                                                                                                      	 	 	
                                                                                                                                                                        2009
      Forecast

                                                                                                                                                                      	 
	 
      	 	
                                                                                                                                                                        Jan

                                                                                                                                                                      	 	 	
                                                                                                                                                                        Feb

                                                                                                                                                                      	 	 	
                                                                                                                                                                        Mar

                                                                                                                                                                      	 	 	
                                                                                                                                                                        Apr

                                                                                                                                                                      	 	 	
                                                                                                                                                                        May

                                                                                                                                                                      	 	 	
                                                                                                                                                                        Jun

                                                                                                                                                                      	 	 	
                                                                                                                                                                        Jul

                                                                                                                                                                      	 	 	
                                                                                                                                                                        Aug

                                                                                                                                                                      	 	 	
                                                                                                                                                                        Sep

                                                                                                                                                                      	 	 	
                                                                                                                                                                        Oct

                                                                                                                                                                      	 	 	
                                                                                                                                                                        Nov

                                                                                                                                                                      	 	 	
                                                                                                                                                                        Dec

                                                                                                                                                                      	 	 	
                                                                                                                                                                        Total

                                                                                                                                                                      	 	 	
                                                                                                                                                                        Q1

                                                                                                                                                                      	 	 	
                                                                                                                                                                        Q2

                                                                                                                                                                      	 	 	
                                                                                                                                                                        Q3

                                                                                                                                                                      	 	 	
                                                                                                                                                                        Q4

                                                                                                                                                                      	 	 	
                                                                                                                                                                        Total

                                                                                                                                                                      	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                                                                                                                                        Net
      revenue

                                                                                                                                                                      	 	 	27,389	 	 	 	24,839	 	 	 	27,708	 	 	 	24,310	 	 	 	24,611	 	 	 	29,865	 	 	 	25,371	 	 	 	25,074	 	 	 	30,350	 	 	 	30,949	 	 	 	29,235	 	 	 	30,232	 	 	 	329,933	 	 	 	79,936	 	 	 	78,786	 	 	 	80,794	 	 	 	90,417	 	 	 	329,933	 
	
                                                                                                                                                                        Cost
      of sales

                                                                                                                                                                      	 	 	27,653	 	 	 	23,779	 	 	 	25,556	 	 	 	22,479	 	 	 	22,724	 	 	 	27,424	 	 	 	22,901	 	 	 	22,420	 	 	 	26,438	 	 	 	26,908	 	 	 	25,599	 	 	 	26,677	 	 	 	300,559	 	 	 	76,989	 	 	 	72,627	 	 	 	71,759	 	 	 	79,184	 	 	 	300,559	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                                                                                                                                        Gross
      profit

                                                                                                                                                                      	 	 	(265	)	 	 	1,059	 	 	 	2,152	 	 	 	1,831	 	 	 	1,887	 	 	 	2,441	 	 	 	2,470	 	 	 	2,654	 	 	 	3,912	 	 	 	4,042	 	 	 	3,637	 	 	 	3,555	 	 	 	29,375	 	 	 	2,947	 	 	 	6,158	 	 	 	9,035	 	 	 	11,234	 	 	 	29,375	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                                                                                                                                        Gross
      profit %

                                                                                                                                                                      	 	 	(1.0	)%	 	 	4.3	%	 	 	7.8	%	 	 	7.5	%	 	 	7.7	%	 	 	8.2	%	 	 	9.7	%	 	 	10.6	%	 	 	12.9	%	 	 	13.1	%	 	 	12.4	%	 	 	11.8	%	 	 	8.9	%	 	 	3.7	%	 	 	7.8	%	 	 	11.2	%	 	 	12.4	%	 	 	8.9	%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                                                                                                                                        Selling

                                                                                                                                                                      	 	 	775	 	 	 	799	 	 	 	977	 	 	 	779	 	 	 	785	 	 	 	962	 	 	 	753	 	 	 	767	 	 	 	904	 	 	 	716	 	 	 	702	 	 	 	847	 	 	 	9,765	 	 	 	2,551	 	 	 	2,526	 	 	 	2,423	 	 	 	2,265	 	 	 	9,765	 
	
                                                                                                                                                                        General
      and administrative

                                                                                                                                                                      	 	 	2,577	 	 	 	2,637	 	 	 	3,179	 	 	 	2,568	 	 	 	2,425	 	 	 	2,971	 	 	 	2,098	 	 	 	2,018	 	 	 	2,541	 	 	 	1,983	 	 	 	1,886	 	 	 	2,452	 	 	 	29,336	 	 	 	8,392	 	 	 	7,964	 	 	 	6,657	 	 	 	6,322	 	 	 	29,336	 
	
                                                                                                                                                                        Research
      and development

                                                                                                                                                                      	 	 	301	 	 	 	298	 	 	 	364	 	 	 	289	 	 	 	290	 	 	 	357	 	 	 	323	 	 	 	318	 	 	 	396	 	 	 	374	 	 	 	377	 	 	 	466	 	 	 	4,154	 	 	 	963	 	 	 	936	 	 	 	1,037	 	 	 	1,217	 	 	 	4,154	 
	
                                                                                                                                                                        Impairment
      of goodwill

                                                                                                                                                                      	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
                                                                                                                                                                        Amortization
      of intangible assets

                                                                                                                                                                      	 	 	14	 	 	 	13	 	 	 	14	 	 	 	13	 	 	 	14	 	 	 	13	 	 	 	14	 	 	 	14	 	 	 	13	 	 	 	13	 	 	 	13	 	 	 	14	 	 	 	167	 	 	 	42	 	 	 	41	 	 	 	42	 	 	 	41	 	 	 	167	 
	
                                                                                                                                                                        Special
      charges

                                                                                                                                                                      	 	 	750	 	 	 	558	 	 	 	825	 	 	 	380	 	 	 	385	 	 	 	330	 	 	 	216	 	 	 	216	 	 	 	186	 	 	 	183	 	 	 	183	 	 	 	84	 	 	 	4,294	 	 	 	2,133	 	 	 	1,094	 	 	 	618	 	 	 	449	 	 	 	4,294	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                                                                                                                                        Operating
      expense

                                                                                                                                                                      	 	 	4,417	 	 	 	4,305	 	 	 	5,360	 	 	 	4,029	 	 	 	3,899	 	 	 	4,634	 	 	 	3,404	 	 	 	3,334	 	 	 	4,040	 	 	 	3,269	 	 	 	3,161	 	 	 	3,864	 	 	 	47,715	 	 	 	14,081	 	 	 	12,561	 	 	 	10,778	 	 	 	10,294	 	 	 	47,715	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                                                                                                                                        Operating
      income

                                                                                                                                                                      	 	 	(4,681	)	 	 	(3,245	)	 	 	(3,207	)	 	 	(2,199	)	 	 	(2,012	)	 	 	(2,193	)	 	 	(934	)	 	 	(680	)	 	 	(128	)	 	 	772	 	 	 	476	 	 	 	(309	)	 	 	(18,341	)	 	 	(11,134	)	 	 	(6,403	)	 	 	(1,743	)	 	 	939	 	 	 	(18,341	)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                                                                                                                                        Operating
      income %

                                                                                                                                                                      	 	 	(17.1	)%	 	 	(13.1	)%	 	 	(11.6	)%	 	 	(9.0	)%	 	 	(8.2	%)	 	 	(7.3	%)	 	 	(3.7	)%	 	 	(2.7	)%	 	 	(0.4	)%	 	 	2.5	%	 	 	1.6	%	 	 	(1.0	)%	 	 	(5.6	)%	 	 	(13.9	)%	 	 	(8.1	)%	 	 	(2.2	)%	 	 	1.0	%	 	 	(5.6	)%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                                                                                                                                        Interest
      expense, net

                                                                                                                                                                      	 	 	339	 	 	 	360	 	 	 	441	 	 	 	596	 	 	 	608	 	 	 	759	 	 	 	621	 	 	 	628	 	 	 	749	 	 	 	603	 	 	 	610	 	 	 	744	 	 	 	7,059	 	 	 	1,141	 	 	 	1,964	 	 	 	1,998	 	 	 	1,957	 	 	 	7,059	 
	
                                                                                                                                                                        Impairment
      of marketable securities

                                                                                                                                                                      	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 	 	 	-	 
	
                                                                                                                                                                        Other
      expense, net

                                                                                                                                                                      	 	 	296	 	 	 	296	 	 	 	(4	)	 	 	(4	)	 	 	(4	)	 	 	(4	)	 	 	(4	)	 	 	(4	)	 	 	(4	)	 	 	(4	)	 	 	(4	)	 	 	(4	)	 	 	552	 	 	 	588	 	 	 	(12	)	 	 	(12	)	 	 	(12	)	 	 	552	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                                                                                                                                        Pretax
      income

                                                                                                                                                                      	 	 	(5,316	)	 	 	(3,902	)	 	 	(3,645	)	 	 	(2,791	)	 	 	(2,616	)	 	 	(2,948	)	 	 	(1,551	)	 	 	(1,304	)	 	 	(874	)	 	 	174	 	 	 	(130	)	 	 	(1,049	)	 	 	(25,951	)	 	 	(12,863	)	 	 	(8,355	)	 	 	(3,729	)	 	 	(1,005	)	 	 	(25,951	)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                                                                                                                                        Pretax
      income %

                                                                                                                                                                      	 	 	(19.4	)%	 	 	(15.7	)%	 	 	(13.2	)%	 	 	(11.5	)%	 	 	(10.6	)%	 	 	(9.9	%)	 	 	(6.1	)%	 	 	(5.2	)%	 	 	(2.9	)%	 	 	0.6	%	 	 	(0.4	)%	 	 	(3.5	)%	 	 	(7.9	)%	 	 	(16.1	)%	 	 	(10.6	)%	 	 	(4.6	)%	 	 	(1.1	)%	 	 	(7.9	)%
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                                                                                                                                        Income
      taxes

                                                                                                                                                                      	 	 	(15	)	 	 	(35	)	 	 	(57	)	 	 	(30	)	 	 	(1	)	 	 	58	 	 	 	(0	)	 	 	3	 	 	 	(13	)	 	 	113	 	 	 	76	 	 	 	(37	)	 	 	63	 	 	 	(106	)	 	 	27	 	 	 	(11	)	 	 	153	 	 	 	63	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                                                                                                                                        Net
      income

                                                                                                                                                                      	 	 	(5,302	)	 	 	(3,867	)	 	 	(3,588	)	 	 	(2,761	)	 	 	(2,615	)	 	 	(3,005	)	 	 	(1,551	)	 	 	(1,306	)	 	 	(861	)	 	 	60	 	 	 	(206	)	 	 	(1,012	)	 	 	(26,014	)	 	 	(12,757	)	 	 	(8,382	)	 	 	(3,718	)	 	 	(1,158	)	 	 	(26,014	)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                                                                                                                                        Net
      income %

                                                                                                                                                                      	 	 	(19.4	)%	 	 	(15.6	)%	 	 	(12.9	)%	 	 	(11.4	)%	 	 	(10.6	)%	 	 	(10.1	%)	 	 	(6.1	)%	 	 	(5.2	)%	 	 	(2.8	)%	 	 	0.2	%	 	 	(0.7	)%	 	 	(3.3	)%	 	 	(7.9	)%	 	 	(16.0	)%	 	 	(10.6	)%	 	 	(4.6	)%	 	 	(1.3	)%	 	 	(7.9	)%
	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                                                                                                                                        Operating
      income

                                                                                                                                                                      	 	 	(4,681	)	 	 	(3,245	)	 	 	(3,207	)	 	 	(2,199	)	 	 	(2,012	)	 	 	(2,193	)	 	 	(934	)	 	 	(680	)	 	 	(128	)	 	 	772	 	 	 	476	 	 	 	(309	)	 	 	(18,341	)	 	 	(11,134	)	 	 	(6,403	)	 	 	(1,743	)	 	 	939	 	 	 	(18,341	)
	
                                                                                                                                                                        Special
      charges

                                                                                                                                                                      	 	 	750	 	 	 	558	 	 	 	825	 	 	 	380	 	 	 	385	 	 	 	330	 	 	 	216	 	 	 	216	 	 	 	186	 	 	 	183	 	 	 	183	 	 	 	84	 	 	 	4,294	 	 	 	2,133	 	 	 	1,094	 	 	 	618	 	 	 	449	 	 	 	4,294	 
	
                                                                                                                                                                        Other
      expense, net

                                                                                                                                                                      	 	 	(296	)	 	 	(296	)	 	 	4	 	 	 	4	 	 	 	4	 	 	 	4	 	 	 	4	 	 	 	4	 	 	 	4	 	 	 	4	 	 	 	4	 	 	 	4	 	 	 	(552	)	 	 	(588	)	 	 	12	 	 	 	12	 	 	 	12	 	 	 	(552	)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                                                                                                                                        EBIT
      before restructuring

                                                                                                                                                                      	 	 	(4,228	)	 	 	(2,984	)	 	 	(2,378	)	 	 	(1,815	)	 	 	(1,623	)	 	 	(1,859	)	 	 	(714	)	 	 	(460	)	 	 	62	 	 	 	959	 	 	 	663	 	 	 	(221	)	 	 	(14,599	)	 	 	(9,590	)	 	 	(5,297	)	 	 	(1,113	)	 	 	1,401	 	 	 	(14,599	)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                                                                                                                                        Depreciation

                                                                                                                                                                      	 	 	1,522	 	 	 	1,689	 	 	 	1,571	 	 	 	1,594	 	 	 	1,527	 	 	 	1,609	 	 	 	1,603	 	 	 	1,593	 	 	 	1,579	 	 	 	1,572	 	 	 	1,565	 	 	 	1,553	 	 	 	18,978	 	 	 	4,782	 	 	 	4,731	 	 	 	4,775	 	 	 	4,690	 	 	 	18,978	 
	
                                                                                                                                                                        Amortization

                                                                                                                                                                      	 	 	61	 	 	 	60	 	 	 	53	 	 	 	60	 	 	 	61	 	 	 	52	 	 	 	61	 	 	 	61	 	 	 	52	 	 	 	60	 	 	 	60	 	 	 	53	 	 	 	694	 	 	 	174	 	 	 	173	 	 	 	174	 	 	 	173	 	 	 	694	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                                                                                                                                                                        EBITDA
      before restructuring

                                                                                                                                                                      	 	 	(2,645	)	 	 	(1,235	)	 	 	(754	)	 	 	(161	)	 	 	(35	)	 	 	(198	)	 	 	949	 	 	 	1,194	 	 	 	1,693	 	 	 	2,591	 	 	 	2,288	 	 	 	1,385	 	 	 	5,073	 	 	 	(4,634	)	 	 	(393	)	 	 	3,836	 	 	 	6,264	 	 	 	5,073Exhibit
10.2

     

    
      

      

    

    EXECUTION
VERSION

    

    SYPRIS
SOLUTIONS, INC.

    

    
      
        

      
FOURTH AMENDMENT

    TO
NOTE PURCHASE AGREEMENT 

      

    

     

    Dated
as of April 1, 2009

    

    $4,090,909
12.00% Senior Notes, Series A, due January 15, 2010

    

    $15,000,001
10.20% Senior Notes, Series B, due January 15, 2010

    

    $10,909,090
10.30% Senior Notes, Series C, due January 15, 2010

     

    
      

      

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    SYPRIS
SOLUTIONS, INC.

    

    $4,090,909
12.00% Senior Notes, Series A, due January 15, 2010

    $15,000,001
10.20% Senior Notes, Series B, due January 15, 2010

    $10,909,090
10.30% Senior Notes, Series C, due January 15, 2010

    

    As of
April 1, 2009

    

    To
each of the Current Noteholders

    Named
in Annex 1 hereto:

    

    Ladies
and Gentlemen:

    

    SYPRIS SOLUTIONS, INC., a
Delaware corporation (together with any successors and assigns, the “Company”), hereby agrees with
each of you as follows:

     

    
      	
              1.

            	
              PRIOR
      ISSUANCE OF NOTES, ETC.

            

    

     

    The Company has outstanding (i)
$4,090,909 in aggregate principal amount of its 7.25% Senior Notes, Series A,
due June 30, 2009 (collectively, the “Existing Series A Notes”),
(ii) $15,000,001 in aggregate principal amount of its 7.45% Senior Notes, Series
B, due June 30, 2011 (collectively, the “Existing Series B Notes”) and
(iii) $10,909,090 in aggregate principal amount of its 7.55% Senior Notes,
Series C, due June 30, 2012 (collectively, the “Existing Series C Notes” and
together with the Existing Series A Notes and the Existing Series B Notes,
collectively, the “Existing
Notes”, and the Existing Notes, as amended pursuant to this Agreement and
as may be further amended, restated, modified or replaced from time to time,
together with any such notes issued in substitution therefor pursuant to Section
13 of the Note Purchase Agreement, the “Notes”) under the Note
Purchase Agreement dated as of June 1, 2004 by and among the Company and the
purchasers named in Schedule A thereto, as amended by that certain First
Amendment to Note Purchase Agreement, dated as of August 3, 2005, that certain
Second Amendment to Note Purchase Agreement, dated as of March 13, 2006, and
that certain Third Amendment to Note Purchase Agreement dated as of April 6,
2007 (as so amended, the “Existing Note Agreement” and,
as amended pursuant to this Agreement and as may be further amended, restated or
otherwise modified from time to time, the “Note Purchase
Agreement”).  The Company represents and warrants to each of
you that the register kept by the Company for the registration and transfer of
the Notes indicates that each of the Persons named in Annex 1 hereto
(collectively, the “Current
Noteholders”) is currently a holder of the aggregate principal amount of
the Notes of each Series indicated in such Annex.

     

    
      	
              2.

            	
              WAIVERS;
      AMENDMENTS.

            

    

     

    The Company agrees and, subject to the
satisfaction of the conditions set forth in Section 5 of this Agreement, each of
the Current Noteholders (a) waives its rights to take any action as a
consequence of any of the Specified Defaults (the “Waivers”) and (b) agrees to
the amendment of the Existing Notes and certain provisions of the Existing Note
Agreement, in each case as provided for by Section 4 of this Agreement (the
“Amendments”).

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    
      Exhibit
10.2

    

     

    
      	
              3.

            	
              WARRANTIES
      AND REPRESENTATIONS.

            

    

     

    To induce the Current Noteholders to
enter into this Agreement and to agree to the Amendments, the Company warrants
and represents to you, as of the date hereof, as follows (it being agreed,
however, that nothing in this Section 3 shall affect any of the warranties and
representations previously made by the Company in or pursuant to the Existing
Note Agreement, and that all of such other warranties and representations, as
well as the warranties and representations in this Section 3, shall survive the
effectiveness of the Amendments).

     

    
      	
               
      

            	
              3.1.

            	
              Material
      Adverse Change.

            

    

     

    Except as disclosed in the draft of the
Company’s Annual Report on Form 10-K (the “Draft 10-K”) for the period
ended December 31, 2008 (including without limitation, the Company’s disclosures
regarding the Material Adverse Effects of recent global and national
macroeconomic developments, the loss of up to 50% of the anticipated sales
volumes for Sypris Industrial Group, and the lack of credit availability for the
Company’s customers and suppliers) proposed to be filed with the Securities and
Exchange Commission, there has been no change in the business operations,
profits, financial condition, properties or business prospects of the Company
and its Subsidiaries except changes that, in the aggregate, could not reasonably
be expected to have a Material Adverse Effect.  A true and correct
copy of the Draft 10-K has been delivered to the Current Noteholders on the date
hereof.

     

    
      	
               
      

            	
              3.2.

            	
              Full
      Disclosure.

            

    

     

    Neither the financial statements and
other certificates previously provided to the Current Noteholders pursuant to
the provisions of the Existing Note Agreement nor the statements made in this
Agreement nor the projected financial information provided to the Current
Noteholders on March 16, 2009 (the “Initial Projections”) in
connection with the proposal and negotiation of the Amendments, taken as a
whole, contain any untrue statement of a material fact or omit a material fact
necessary to make the statements contained therein and herein, taken as a whole,
not misleading.  There is no fact relating to any event or
circumstance that has occurred or arisen since the date of the Initial
Projections that the Company has not disclosed to the Current Noteholders in
writing that has had or, so far as the Company can now reasonably foresee, could
reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect.  All pro forma financial information, financial or
other projections and forward-looking statements delivered to the Current
Noteholders (including the Initial Projections) have been prepared in good faith
by the Company based on reasonable assumptions.

     

    
      	
               
      

            	
              3.3.

            	
              Solvency.

            

    

     

    The fair
value of the business and assets of each of the Company and each Subsidiary
Guarantor exceeds the amount that will be required to pay its respective
liabilities (including, without limitation, contingent, subordinated, unmatured
and unliquidated liabilities on existing debts, as such liabilities may become
absolute and matured).  Neither the Company nor the Subsidiary
Guarantors is engaged in any business or transaction, or about to engage in any
business or transaction, for which such Person has unreasonably small assets or
capital (within the meaning of the Uniform Fraudulent Transfer Act, the Uniform
Fraudulent Conveyance Act and Section 548 of the Federal Bankruptcy Code), and
neither the Company nor the Subsidiary Guarantors has any intent
to:

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    
      Exhibit
10.2

       

    

    (a)           hinder,
delay or defraud any entity to which any of them is, or will become, on or after
the Closing Date, indebted, or

     

    (b)           incur
debts that would be beyond any of their ability to pay as they
mature.

     

    
      	
               
      

            	
              3.4.

            	
              No
      Defaults.

            

    

     

    Except for the Defaults set forth on
Schedule 3.4
(the “Specified
Defaults”), no event has occurred and no condition exists that, upon the
execution and delivery of this Agreement and the effectiveness of the
Amendments, would constitute a Default or an Event of Default.

     

    
      	
               
      

            	
              3.5.

            	
              Title
      to Properties.

            

    

     

    The
Company and its Subsidiaries have good and sufficient title to or the legal
right to use their respective properties, including all such properties
reflected in the most recent audited balance sheet of the Company delivered
pursuant to the provisions of Section 7.1 of the Existing Note Agreement (except
as sold or otherwise disposed of in the ordinary course of business) or
purported to have been acquired by the Company or any Subsidiary after said date
(except as sold or otherwise disposed of in the ordinary course of business), in
each case (a) to the extent such properties are individually or in the aggregate
Material, and (b) free and clear from Liens not permitted by the Financing
Documents.

     

    
      	
               
      

            	
              3.6.

            	
              Transaction
      is Legal and Authorized; Obligations are
  Enforceable.

            

    

     

    (a)           The
execution and delivery of this Agreement, the Notes, the Subsidiary Guaranty
Amendment and the other documents and instruments entered into in connection
herewith and therewith (collectively, the “Fourth Amendment Documents”)
by the Company and the Subsidiary Guarantors (collectively, the “Obligors”) and compliance by
the Obligors with all of their respective obligations thereunder:

     

    (i)           is
within the corporate or limited liability company powers of each
Obligor;

     

    (ii)           is
legal and does not conflict with, result in any breach in any of the provisions
of, constitute a default under, or result in the creation of any Lien upon any
property of the Obligors under the provisions of, any agreement, charter
instrument, bylaw or other instrument to which any Obligor is a party or by
which it or any of its Property may be bound; and

     

    (iii)           does
not give rise to a right or option of any other Person under any agreement or
other instrument, which right or option, individually or in the aggregate, could
reasonably be expected to have a Material Adverse Effect.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    
      Exhibit
10.2

       

    

    (b)           The
Fourth Amendment Documents have been duly authorized by all necessary action on
the part of each Obligor and each Fourth Amendment Document has been executed
and delivered by one or more duly authorized officers of each Obligor party
thereto, and each constitutes a legal, valid and binding obligation of such
Obligor, enforceable in accordance with its terms, except that such
enforceability may be:

     

    (i)           limited
by applicable bankruptcy, reorganization, arrangement, insolvency, moratorium or
other similar laws affecting the enforceability of creditors’ rights generally;
and

     

    (ii)           subject
to the availability of equitable remedies.

     

    
      	
               
      

            	
              3.7.

            	
              Collateral
      Representations.

            

    

     

    (a)           Valid and Perfected Security
Interests.  The Security Documents create in favor of the
Collateral Agent, for the benefit of the holders from time to time of the Notes
and the Lenders, a good and valid security interest upon the property purported
to be encumbered thereby, subject only to Liens permitted by the terms of the
Financing Documents (“Permitted
Liens”).  Such security interest is a first priority (subject
to Permitted Liens) security interest duly perfected with respect to all
property purported to be covered thereby (other than any motor vehicles and any
fixtures for which a fixture filing is not required under the terms of the
Security Agreement) and shall be effective as to any purchaser or grantee of the
property encumbered thereby.

     

    (b)           Filings and
Registrations.  No authorization or approval or other action
by, and no notice to or filing with, any Governmental Authority is required
for:

     

    (A)           the
continued existence of the Liens granted pursuant to the Security Documents;
or

     

    (B)           the
continued perfection of such security interest (other than any motor vehicles
and any fixtures for which a fixture filing is not required under the terms of
the Security Agreement);

     

    (c)           Absence of Financing
Statements, etc.  Except for
Permitted Liens, there is no financing statement, security agreement, chattel
mortgage, real estate mortgage or other document filed or recorded with any
filing records, registry or other public office, that purports to cover, affect
or give notice of any present or possible future Lien on, or security interest
in, any property of any Obligor or any rights relating thereto.

    

    (d)           Deposit
Accounts.  The Obligors maintain all of their deposit and
securities accounts with the Collateral Agent, other than (i) any such accounts
holding money or securities for the benefit of employees of the Obligors under
employee benefit plans and (ii) any such accounts the current outstanding
balance of which does not exceed $100,000 with respect to any single
account.

     

    (e)           Third Party
Beneficiary.  The Lenders are intended third party
beneficiaries of the representations set forth in this Section
3.7.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    Exhibit
10.2

     

    
      	
               
      

            	
              3.8.

            	
              Certain
      Laws.

            

    

     

    The
execution and delivery of the Fourth Amendment Documents by the Obligors and the
consummation of the transaction contemplated hereby:

     

    (a)           is
not subject to regulation under the Investment Company Act of 1940, as amended,
or the Federal Power Act, as amended, and

     

    (b)           does
not violate any provision of any statute or other rule or regulation of any
Governmental Authority applicable to the Company or any Subsidiary.

     

    
      	
               
      

            	
              3.9.

            	
              Litigation;
      Observance of Agreements.

            

    

     

    (a)           There
are no actions, suits or proceedings pending or, to the knowledge of the
Company, threatened against or affecting the Company or any Subsidiary or any
property of the Company or any Subsidiary in any court or before any arbitrator
of any kind or before or by any Governmental Authority that, individually or in
the aggregate, could reasonably be expected to have a Material Adverse
Effect.

     

    (b)           Neither
the Company nor any Subsidiary is in default under any term of any order,
judgment, decree or ruling of any court, arbitrator or Governmental Authority or
is in violation of any applicable law, ordinance, rule or regulation (including,
without limitation, Environmental Laws) of any Governmental Authority, which
default or violation, individually or in the aggregate, could reasonably be
expected to have a Material Adverse Effect.

     

    
      	
            	
              3.10.

            	
              Charter
      Instruments; Other Agreements.

            

    

     

    Neither
the Company nor any Subsidiary is in violation in any respect of any term of any
charter instrument or bylaw, other than possible immaterial violations by
Mexican Subsidiaries.  Except for the Specified Defaults, upon the
execution and delivery of the 2009A Amendment to Loan Documents (as defined
herein) and the Fourth Amendment Documents and the effectiveness of the
amendments provided therein, neither the Company nor any Subsidiary is in
violation or default in respect of any term in any agreement or other instrument
to which it is a party or by which it or any of its material property may be
bound or affected which violation or default, individually or in the aggregate,
could reasonably be expected to have a Material Adverse Effect.  The
execution, delivery and performance by each Obligor of the Fourth Amendment
Documents to which it is a party will not conflict with or result in the
material breach of any of the terms, conditions or provisions of any order,
judgment, decree or ruling of any court, arbitrator or Governmental Authority
applicable to the Company or any Subsidiary or violate any provision of any
statute or other rule or regulation of any Government Authority applicable to
the Company or any Subsidiary.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    Exhibit
10.2
  

    
      	
            	
              3.11.

            	
              Taxes.

            

    

     

    The
Company and its Subsidiaries have filed all tax returns that are required to
have been filed in any jurisdiction, and have paid all taxes shown to be due and
payable on such returns and all other taxes and assessments levied upon them or
their properties, assets, income or franchises, to the extent such taxes and
assessments have become due and payable and before they have become delinquent,
except for any taxes and assessments (a) the amount of which is not
individually or in the aggregate Material or (b) the amount, applicability
or validity of which is currently being contested in good faith by appropriate
proceedings and with respect to which the Company or a Subsidiary, as the case
may be, has established adequate reserves in accordance with GAAP, other than,
in the case of this clause (b), taxes and assessments in immaterial amounts
required to be paid by Mexican Subsidiaries.  The Company knows of no
basis for any other tax or assessment that could reasonably be expected to have
a Material Adverse Effect.  The charges, accruals and reserves on the
books of the Company and the Subsidiaries (other than the Mexican Subsidiaries)
in respect of federal, state or other taxes for all fiscal periods are
adequate.  The charges, accruals and reserves on the books of the
Mexican Subsidiaries in respect of federal, state or other taxes for all fiscal
periods are adequate in all material respects.

     

    
      	
            	
              3.12.

            	
              Governmental
      Consent.

            

    

     

    Neither
the Obligors, nor the nature of any of their respective businesses or
properties, is such so as to require a consent, approval or authorization of, or
filing, registration or qualification with, any Governmental Authority as a
condition to the execution and delivery of the Fourth Amendment
Documents.

     

    
      	
            	
              3.13.

            	
              Fees.

            

    

     

    Neither
the Company nor any Subsidiary thereof has paid (or promised to pay) any
amendment fee or any other direct or indirect compensation to any party to the
Credit Agreement or to any other creditor of the Company or any Subsidiary
(other than Ernst & Young LLP, Middleton Reutlinger PSC, Sherman &
Sterling LLP or Alvarez & Marsal) in connection with the transactions
contemplated hereby other than as contemplated by this Agreement and the 2009A
Amendment to Loan Documents.

     

    
      	
            	
              3.14.

            	
              Indebtedness;
      Liens.

            

    

     

    There is
no outstanding Debt of the Company or any Subsidiary in respect of borrowed
money, Capital Leases, the deferred purchase price of property, or existing
guaranties issued by the Company or any Subsidiary, in each case in an amount in
excess of $100,000, or existing Liens encumbering the property of the Company or
any Subsidiary other than as disclosed in the most recent annual and quarterly
financial statements of the Company delivered to the Current
Noteholders.  Schedule 10.16(b)
sets forth a complete and correct list of all of the real properties leased by
the Obligors at which Collateral is located with an aggregate net book value in
excess of $1,000,000.  Neither the Company nor any Subsidiary is in
default and no waiver of default is currently in effect, in the payment of any
principal or interest on any Debt of the Company or such Subsidiary, and no
event or condition exists with respect to any Debt of the Company or any
Subsidiary that would permit (or that with notice or the lapse of time, or both,
would permit) one or more Persons to cause such Debt to become due and payable
before its stated maturity or before its regularly scheduled dates of payment,
in each case after giving effect to the amendments contemplated by this
Agreement and the 2009A Amendment to Loan Documents.

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    
      Exhibit
10.2

    

     

    
      	
            	
              3.15.

            	
              Amendment
      to Credit Agreement.

            

    

     

    The
Company has delivered to each of the Current Noteholders true and correct copies
of the existing Credit Agreement and the 2009A Amendment to Loan
Documents.

     

    
      	
            	
              3.16.

            	
              Fiscal
      Quarter End Dates.

            

    

    The
fiscal quarter end dates of the Company for fiscal year 2009 are April 5, 2009,
July 5, 2009, October 4, 2009 and December 31, 2009.

     

    
      	
            	
              3.17.

            	
              2009
      Monthly Business Plan.

            

    

     

    The 2009
Monthly Business Plan provides a reasonable estimate of the future financial
performance of the Company and the Subsidiary Guarantors for the periods set
forth therein and the 2009 Monthly Business Plan has been prepared on the basis
of the assumptions set forth therein, which the Company believes are fair and
reasonable in light of current and reasonably foreseeable business conditions at
the time submitted to the holders of the Notes, subject, in each case, to the
Company’s disclosures in the Draft 10-K and its most recent Form 10-Q filing
with the Securities and Exchange Commission.

     

    
      	
            	
              3.18.

            	
              Completeness
      of Disclosures.

            

    

     

    Any
representation, warranty, covenant or other provision hereof, or in any related
document, which relates to the accuracy or completeness of any notice, reporting
obligation or disclosure to the Noteholders shall be accurate or complete only
when taken as a whole together with the Company’s other notices, reports or
disclosures, including, without limitation, the Risk Factors sections of the
Company’s Form 10-K and 10-Q filings.

    

    
      	
              4.

            	
              AMENDMENTS
      TO NOTES AND NOTE PURCHASE
AGREEMENT.

            

    

     

    
      	
               
      

            	
              4.1.

            	
              Amendment
      of Notes.

            

    

     

    (a)           Series A Notes.  The
Existing Series A Notes are hereby and shall be deemed to be, automatically and
without any further action, amended and restated in their entirety as set forth
on Exhibit A;
except that the date, registration number and principal amount set forth in each
Existing Series A Note shall remain the same; provided, however, that, at
the request of any Current Noteholder, the Company shall execute and deliver a
new Series A Note or Series A Notes in the form of such Exhibit A in exchange
for its Existing Series A Note, registered in the name of such Current
Noteholder, in the aggregate principal amount of the Series A Notes owing to
such Current Noteholder on the date hereof and dated the date of the last
interest payment made to such Current Noteholder in respect of its Existing
Series A Notes.  Each reference to the “7.25% Senior Notes, Series A,
due June 30, 2009” in any of the Financing Documents is hereby deleted and
replaced with a reference to the “12.00% Senior Notes, Series A, due January 15,
2010”.  Each other reference to “7.25%” in any of such agreements as
the interest rate applicable to the Series A Notes is hereby deleted and
replaced with “12.00%”.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    Exhibit
10.2

    (b)           Series B Notes. The Existing
Series B Notes are hereby and shall be deemed to be, automatically and without
any further action, amended and restated in their entirety as set forth on Exhibit B; except
that the date, registration number and principal amount set forth in each
Existing Series B Note shall remain the same; provided, however, that, at
the request of any Current Noteholder, the Company shall execute and deliver a
new Series B Note or Series B Notes in the form of such Exhibit B in exchange
for its Existing Series B Note, registered in the name of such Current
Noteholder, in the aggregate principal amount of the Series B Notes owing to
such Current Noteholder on the date hereof and dated the date of the last
interest payment made to such Current Noteholder in respect of its Existing
Series B Notes.  Each reference to the “7.45% Senior Notes, Series B,
due June 30, 2011” in any of the Financing Documents is hereby deleted and
replaced with a reference to the “10.20% Senior Notes, Series B, due January 15,
2010”.  Each other reference to “7.45%” in any of such agreements as
the interest rate applicable to the Series B Notes is hereby deleted and
replaced with “10.20%”.

     

    (c)           Series C Notes. The Existing
Series C Notes are hereby and shall be deemed to be, automatically and without
any further action, amended and restated in their entirety as set forth on Exhibit C; except
that the date, registration number and principal amount set forth in each
Existing Series C Note shall remain the same; provided, however, that, at
the request of any Current Noteholder, the Company shall execute and deliver a
new Series C Note or Series C Notes in the form of such Exhibit C in exchange
for its Existing Series C Note, registered in the name of such Current
Noteholder, in the aggregate principal amount of the Series C Notes owing to
such Current Noteholder on the date hereof and dated the date of the last
interest payment made to such Current Noteholder in respect of its Existing
Series C Notes.  Each reference to the “7.55% Senior Notes, Series C,
due June 30, 2012” in any of the Financing Documents is hereby deleted and
replaced with a reference to the “10.30% Senior Notes, Series C, due January 15,
2010”.  Each other reference to “7.55%” in any of such agreements as
the interest rate applicable to the Series C Notes is hereby deleted and
replaced with “10.30%.”

     

    
      	
               
      

            	
              4.2.

            	
              Note
      Purchase Agreement Amendments.

            

    

     

    The
Existing Note Agreement is hereby and shall be amended in the manner specified
in Exhibit D to
this Agreement.

     

    
      	
               
      

            	
              4.3.

            	
              No
      Other Amendments; Confirmation.

            

    

     

    Except as
expressly provided herein, (a) no terms or provisions of any agreement are
modified or changed by this Agreement, (b) the terms of this Agreement shall not
operate as a waiver by any Current Noteholder of, or otherwise prejudice any
Current Noteholder’s rights, remedies or powers under, the Existing Note
Agreement, the Existing Notes or any other Financing Document or under any
applicable law, and (c) the terms and provisions of the Existing Note Agreement,
the Existing Notes and each other Financing Document shall continue in full
force and effect.

     

    
      	
              5.

            	
              CONDITIONS
      TO EFFECTIVENESS OF WAIVERS AND
AMENDMENTS.

            

    

     

    The
Waivers and Amendments shall become effective on the date hereof (the “Closing Date”), provided that
the following conditions precedent have been satisfied to the satisfaction of
the Current Noteholders pursuant to documentation (where applicable) in form and
substance satisfactory to them:

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    
      Exhibit
10.2

       

    

    (a)           the
Obligors shall have executed and delivered this Agreement and the Subsidiary
Guaranty Amendment to the Current Noteholders, and the Company shall have
executed and delivered replacement Notes to any Current Noteholder requesting
the same;

     

    (b)           the
Company shall have delivered to each of the Current Noteholders true and correct
copies of the existing Credit Agreement and the 2009A Amendment to Loan
Documents, which agreements shall be in full force and effect;

     

    (c)           each
Obligor shall have delivered a certificate of its secretary in the form agreed
to by the Company and special counsel to the Current Noteholders;

     

    (d)           the
Company shall have engaged Alvarez & Marsal as the Company’s financial
advisor;

     

    (e)           the
Company shall have provided all other due diligence materials requested by the
Current Noteholders;

     

    (f)           the
Company shall have delivered (i) a legal opinion of the general counsel to the
Obligors, addressing the matters set forth on Exhibit E, and (ii) a
legal opinion of Middleton Routlinger, addressing the matters set forth on Exhibit
F;

     

    (i)           the
Company shall have paid to each Current Noteholder, in consideration of the
agreements of such Current Noteholder contained herein, by wire transfer of
immediately available funds, a fee in an amount equal to 0.75% of the aggregate
outstanding principal amount of the Notes held by such Current
Noteholder.  In accordance with Section 17.2(b) of the Note Purchase
Agreement, such fee shall be deemed earned when paid and shall not be subject to
recovery or repayment in the event this Agreement is terminated or rescinded for
any reason;

     

    (j)           the
Company shall have paid all unpaid fees and disbursements of Bingham McCutchen
LLP (“Bingham”), special
counsel to the Current Noteholders, as reflected in an invoice presented to the
Company on or before the date hereof;

     

    (k)           within
two (2) days after execution of this Agreement, the Company shall have received,
and delivered to each of the Current Noteholders, the audited financial
statements for its 2008 fiscal year together with the certificates and auditors’
opinion as required by Section 7.1(b) of the Existing Note Purchase Agreement
which financial statements and opinion shall be not subject to any footnote or
qualification which specifies that the Company may not continue as a going
concern for the year 2009; and

     

    (l)           The
Current Noteholders, the Lenders and the Company shall have agreed to amendments
to the Existing Sharing Agreement reasonably satisfactory to the Current
Noteholders concerning the calculation of Pro Rata Shares with respect to
amounts due under Sections 8.1(b) of the Note Purchase Agreement.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    
      Exhibit
10.2

       

    

    Any
document entered into in connection with the transaction contemplated hereby
shall be in form and substance satisfactory to the Required Holders, provided
that execution and delivery of this Agreement by the Required Holders shall be
deemed to be an affirmation that such document is so satisfactory.

     

    
      	
              6.

            	
              DEFINED
      TERMS.

            

    

     

    Capitalized terms used herein and not
otherwise defined herein shall have the meanings ascribed to them in the Note
Purchase Agreement.  In addition, the following capitalized terms used
herein shall have the meanings ascribed to them in the corresponding section of
this Agreement referenced below:

     

    “Agreement” means this Fourth
Amendment to Note Purchase Agreement.

     

    “Amendments” – Section
2.

     

    “Bingham” – Section
5(i).

     

    “Closing Date” – Section
5.

     

    “Company” – the introductory
sentence hereof.

     

    “Current Noteholders” – Section
1.

     

    “Existing Financing Documents”
– Section 8.

     

    “Existing Note Agreement” –
Section 1.

     

    “Existing Notes” – Section
1.

     

    “Existing Pledge Agreement” –
means the Pledge Agreement, dated as of September 13, 2005, by and among the
Company, the Collateral Agent, Sypris Technologies Mexican Holdings, LLC and
Sypris Technologies, Inc.

     

    “Existing Series A Notes” –
Section 1.

     

    “Existing Series B Notes” –
Section 1.

     

    “Existing Series C Notes” –
Section 1.

     

    “Existing Sharing Agreement” –
means the Amended and Restated Collateral Sharing Agreement, dated as of April
6, 2007, by and among the Collateral Agent, the Lenders and the holders of the
Notes.

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    
      Exhibit
10.2

       

    

    “Fourth Amendment Documents” –
Section 3.6(a).

     

    “Initial Projections” – Section
3.2.

     

    “Note Purchase Agreement” –
Section 1.

     

    “Notes” – Section
1.

     

    “Obligors” – Section
3.6(a).

     

    “Permitted Liens” – Section
3.7(a).

     

    “Specified Defaults” — Section
3.4.

     

    
      	
              7.

            	
              EXPENSES.

            

    

     

    The Company hereby agrees to pay, as
and when billed, all reasonable costs and expenses of the Current Noteholders,
including, without limitation, the fees and expenses of Bingham, and also
including any other reasonable out-of-pocket expenses of the Current Noteholders
incurred in connection with this Agreement and the Financing Documents and in
otherwise assessing, analyzing, evaluating, protecting, asserting, defending or
enforcing any rights or remedies which are or may be available to the Current
Noteholders under the Financing Documents.  This provision shall be
supplementary to, and shall not in any way be deemed to limit, the terms of any
engagement letter between the Company and Bingham or any agreement of the
Company or any Subsidiary to pay the fees and expenses of the Current
Noteholders in any other Financing Document.

     

    
      	
              8.

            	
              RELEASE.

            

    

     

    In order to induce the Current
Noteholders to enter into this Agreement, the Obligors acknowledge and agree
that: (a) neither the Company nor any of its Subsidiaries has any claim or cause
of action against any of the Current Noteholders (or any of their respective
directors, trustees, officers, employees, attorneys, advisors or agents)
relating to or arising out of the Existing Note Agreement, the Existing Notes,
the Subsidiary Guaranty, the Existing Pledge Agreement, the Existing Sharing
Agreement or any agreement entered into in connection therewith (collectively,
the “Existing Financing
Documents”); (b) neither the Company nor any of its Subsidiaries has any
offset right, counterclaim or defense of any kind against any of their
respective obligations, indebtedness or liabilities to any of the Current
Noteholders; and (c) each of the Current Noteholders and the Collateral Agent
has heretofore properly performed and satisfied in a timely manner all of its
obligations to the Company and its Subsidiaries under the Existing Financing
Documents. The Obligors wish to eliminate any possibility that any past
conditions, acts, omissions, events, circumstances or matters would impair or
otherwise adversely affect any of the Current Noteholders’ or the Collateral
Agent’s rights, interests, contracts, or remedies under the Existing Financing
Documents, whether known or unknown, as applicable. Therefore, each of the
Obligors (in the case of the Subsidiary Guarantors, pursuant to the
acknowledgement and agreement on the signature pages hereto) unconditionally
releases, waives and forever discharges (x) any and all liabilities,
obligations, duties, promises or indebtedness of any kind of the Current
Noteholders and the Collateral Agent to the Company or any of its Subsidiaries,
except the obligations to be performed by any of them on or after the date
hereof as expressly stated in the Financing Documents, as such obligations may
be modified pursuant to the terms of this Agreement, and (y) all claims,
offsets, causes of action, suits or defenses of any kind whatsoever (if any),
whether arising at law or in equity, whether known or unknown, which the Company
or its Subsidiaries might otherwise have against any Current Noteholder, the
Collateral Agent or any of their respective directors, trustees, officers,
employees or agents, in either case (x) or (y), whether known or unknown, on
account of any past or presently existing condition, act, omission, event,
contract, liability, obligation, indebtedness, claim, cause of action, defense,
circumstance or matter of any kind.  Neither the Collateral Agent nor
any Current Noteholder shall be liable with respect to, and the Company and each
Subsidiary Guarantor hereby waives, releases and agrees not to sue for, any
special, indirect or consequential damages relating to this Agreement or any
other Financing Document or arising out of its activities in connection herewith
or therewith (whether before, on or after the date hereof).

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    
      Exhibit
10.2

       

    

    
      	
              9.

            	
              MISCELLANEOUS.

            

    

     

    
      	
               
      

            	
              9.1.

            	
              Part
      of Note Purchase Agreement, Future References,
  etc.

            

    

     

    This Agreement shall be construed in
connection with and as a part of the Existing Note Agreement and, except as
expressly amended by this Agreement, all terms, conditions and covenants
contained in the Existing Note Agreement, the Existing Notes and the other
Existing Financing Documents are hereby ratified and shall be and remain in full
force and effect.  Any and all notices, requests, certificates and
other instruments executed and delivered after the execution and delivery of
this Agreement may refer to the Note Purchase Agreement without making specific
reference to this Agreement, but nevertheless all such references shall include
this Agreement unless the context otherwise requires.

     

    
      	
               
      

            	
              9.2.

            	
              Governing
      Law.

            

    

     

    THIS AGREEMENT SHALL BE GOVERNED BY,
AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAW OF THE STATE OF ILLINOIS,
UNITED STATES OF AMERICA, EXCLUDING CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH
STATE THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER
THAN SUCH STATE.

     

    
      	
               
      

            	
              9.3.

            	
              Duplicate
      Originals, Execution in
Counterpart.

            

    

     

    Two (2) or more duplicate originals
hereof may be signed by the parties, each of which shall be an original but all
of which together shall constitute one and the same instrument.  This
Agreement may be executed in one or more counterparts and shall become effective
at the time provided in Section 5 hereof, and each set of counterparts that,
collectively, show execution by the Company and each Current Noteholder shall
constitute one duplicate original.

     

    
      	
               
      

            	
              9.4.

            	
              Binding
      Effect.

            

    

     

    This Agreement shall be binding upon
and shall inure to the benefit of the Company and the Current Noteholders and
their respective successors and assigns.

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    Exhibit
10.2
  

    If this
Agreement is satisfactory to each of you, please so indicate by signing the
applicable acceptance on a counterpart hereof and returning such counterpart to
the Company, whereupon this Agreement shall become binding among the Company,
the Subsidiary Guarantors and each of you in accordance with its
terms.

    

    
      
        	 	
                Very
      truly yours,

              
	 	 
      
	 	
                SYPRIS
      SOLUTIONS, INC.

              
	 	 
      	 
      
	 	
                By:

              	
                /s/ Jeffrey T. Gill

              
	 	
                Name:  Jeffrey
      T. Gill

              
	 	
                Title:  President
      & CEO

              

      

    

    

    [Signature
Page to Fourth Amendment to Note Purchase Agreement]

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Exhibit
10.2

    

    
      
        	
                THE
      GUARDIAN LIFE INSURANCE

                COMPANY
      OF AMERICA

              
	 
      
	
                By:

              	
                /s/ Ellen I. Whittaker

              
	
                Name:  Ellen
      I. Whittaker

              
	
                Title:  Senior
      Director, Private Placements

              

      

    

     

    [Signature
Page to Fourth Amendment to Note Purchase Agreement]

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Exhibit
10.2

    

    CONNECTICUT
GENERAL LIFE INSURANCE

    COMPANY

    
      By:  CIGNA
Investments, Inc. (authorized agent)

    

    

    
      
        	
                By:

              	
                /s/ David M. Cass

              
	
                Name:  David
      M. Cass

              
	
                Title:  Managing
      Director

              

      

    

    

    LIFE
INSURANCE COMPANY OF NORTH

    AMERICA

    
      By:  CIGNA
Investments, Inc. (authorized agent)

    

    

    
      
        	
                By:

              	
                /s/ David M. Cass

              
	
                Name:  David
      M. Cass

              
	
                Title:  Managing
      Director

              

      

    

    

    [Signature
Page to Fourth Amendment to Note Purchase Agreement]

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Exhibit
10.2

    

    THE
LINCOLN NATIONAL LIFE INSURANCE COMPANY

    (Successor
by merger to JEFFERSON

    PILOT
FINANCIAL INSURANCE

    COMPANY)

    
      
        
          
            
              
                	
                        By:

                      	
                        Delaware
      Investment Advisers, a Series of Delaware

                      
	 
      	
                        Management
      Business Trust,
Attorney-in-Fact

                      

              

            

          

        

      

    

     

    
      
        	
                By:

              	
                /s/ Edward J. Brennan

              
	
                Name:
      Edward J. Brennan

              
	
                Title:  Vice
      President

              

      

    

    

    THE
LINCOLN NATIONAL LIFE INSURANCE COMPANY

    (Successor
by merger to JEFFERSON-PILOT LIFE

    INSURANCE
COMPANY)

    
      
        	
                By:

              	
                Delaware
      Investment Advisers, a Series of Delaware

              
	 
      	
                Management
      Business Trust,
Attorney-in-Fact

              

      

    

    

    
      
        	
                By:

              	
                /s/ Edward J. Brennan

              
	
                Name:
      Edward J.  Brennan

              
	
                Title:  Vice
      President

              

      

    

    

    LINCOLN
LIFE & ANNUITY COMPANY OF NEW YORK

    (Successor
by merger to JEFFERSON PILOT LIFEAMERICA

    INSURANCE
COMPANY)

    
      
        
          	
                  By:

                	
                  Delaware
      Investment Advisers, a Series of Delaware

                
	 
      	
                  Management
      Business Trust,
Attorney-in-Fact

                

        

      

    

    

    
      
        	
                By:

              	
                /s/ Edward J. Brennan

              
	
                Name:  Edward
      J. Brennan

              
	
                Title:  Vice
      President

              

      

    

    

    [Signature
Page to Fourth Amendment to Note Purchase Agreement]

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Exhibit
10.2

    The
undersigned Subsidiary Guarantors hereby acknowledge and reaffirm all of their
obligations under the Subsidiary Guaranty and further acknowledge and agree to
the terms and provisions contained herein, agree to be bound by the terms of
Section 8 hereof and consent to the Company’s execution hereof:

    

    
      
        	
                SYPRIS
      TEST & MEASUREMENT, INC.

              
	 
      	 
      
	
                By:

              	
                /s/ Jeffrey T. Gill

              
	
                Name:

              	
                Jeffrey
      T. Gill

              
	
                Title:

              	
                Chairman
      of the Board

              
	 
      	 
      
	
                SYPRIS
      TECHNOLOGIES, INC.

              
	 
      	 
      
	
                By:

              	
                /s/ Jeffrey T. Gill

              
	
                Name:

              	
                Jeffrey
      T. Gill

              
	
                Title:

              	
                Chairman
      of the Board

              
	 
      	 
      
	
                SYPRIS
      ELECTRONICS, LLC

              
	 
      	 
      
	
                By:

              	
                /s/ Jeffrey T. Gill

              
	
                Name:

              	
                Jeffrey
      T. Gill

              
	
                Title:

              	
                Chairman
      of the Board

              
	 
      	 
      
	
                SYPRIS
      DATA SYSTEMS, INC.

              
	 
      	 
      
	
                By:

              	
                /s/ Jeffrey T. Gill

              
	
                Name:

              	
                Jeffrey
      T. Gill

              
	
                Title:

              	
                Chairman
      of the Board

              
	 
      	 
      
	
                SYPRIS
      TECHNOLOGIES MARION, LLC

              
	 
      	 
      
	
                By:

              	
                /s/ Jeffrey T. Gill

              
	
                Name:

              	
                Jeffrey
      T. Gill

              
	
                Title:

              	
                Chairman
      of the Board

              
	 
      	 
      
	
                SYPRIS
      TECHNOLOGIES KENTON, INC.

              
	 
      	 
      
	
                By:

              	
                /s/ Jeffrey T. Gill

              
	
                Name:

              	
                Jeffrey
      T. Gill

              
	
                Title:

              	
                Chairman
      of the Board

              

      

    

     

    [Signature
Page to Fourth Amendment to Note Purchase Agreement]

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Exhibit
10.2

    

    
      
        	
                SYPRIS
      TECHNOLOGIES MEXICAN HOLDINGS, LLC

              
	 
      	 
      
	
                By:

              	
                /s/ Jeffrey T. Gill

              
	
                Name:

              	
                Jeffrey
      T. Gill

              
	
                Title:

              	
                Chairman
      of the Board:

              

      

    

    

    [Signature
Page to Fourth Amendment to Note Purchase Agreement]

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    Exhibit
10.2

    ANNEX
1

    

    CURRENT
NOTEHOLDERS AND PRINCIPAL AMOUNTS

    

    
      
        
          
            	 
      	 	
                    Principal Amount

                  	 
	
                    Holder

                  	 	
                    Series A

                  	 	 	
                    Series B

                  	 	 	
                    Series C

                  	 
	
                    The
      Guardian Life Insurance Company of

                    America

                  	 	 	 	 	 	 	 	$	10,909,090	 
	
                    Connecticut
      General Life Insurance Company

                  	 	 	 	 	$	6,545,456	 	 	 	 	 
	
                    Life
      Insurance Company of North America

                  	 	 	 	 	 	4,363,636	 	 	 	 	 
	
                    The
      Lincoln National Life Insurance

                    Company,
      successor by merger to Jefferson-

                    Pilot
      Financial Insurance Company

                  	 	$	3,272,727	 	 	 	 	 	 	 	 	 
	
                    The
      Lincoln National Life Insurance

                    Company,
      successor by merger to Jefferson-

                    Pilot
      Life Insurance Company

                  	 	 	 	 	 	 	2,727,273	 	 	 	 	 
	
                    Lincoln
      Life & Annuity Company of New

                    York,
      successor by merger to Jefferson

                    Pilot
      LifeAmerica Insurance Company

                  	 	 	818,182	 	 	 	1,363,636	 	 	 	 	 

          

        

      

    

    
      
         

      

      
        Annex
1

        
          

        

      

      
         

      

    

    Exhibit
10.2

    SCHEDULE
3.4

    

    SPECIFIED
DEFAULTS

    

    The
Company has failed to observe or perform Section 10.1(a) of the Existing Note
Agreement by failing to maintain the ratio set forth therein as of its fourth
Fiscal Quarter of 2008 and its first Fiscal Quarter of 2009 (the “Consolidated
Net Debt to EBITDA Ratio Failure”).

    

    The
Company has failed to observe or perform Section 10.1(b) of the Existing Note
Agreement by failing to maintain the ratio set forth therein as of its fourth
Fiscal Quarter of 2008 and its first Fiscal Quarter of 2009 (the “Fixed Charge
Coverage Failure”).

    

    The
Company has failed to observe or perform Section 10.2 of the Existing Note
Agreement by failing to maintain level set forth therein as of its fourth Fiscal
Quarter of 2008 and its first Fiscal Quarter of 2009 (the “Minimum Adjusted
Consolidated Net Worth Failure”).

    

    A breach
of any representations and warranties which may have been included in any
certificate or instrument delivered by the Company related to the Fixed Charge
Coverage Failure, the Adjusted Funded Debt to EBITDA Ratio Failure and the
Minimum Net Worth Failure (the “Representations and Warranties
Failures”) provided the Company and the Current Noteholders represent
that to the best knowledge of each of them respectively no such representation
or warranty has been made.

    

    A failure
to satisfy within the time required certain of the post closing obligations of
Section 10.16 of the Existing Note Agreement (the “Condition Subsequent
Failures”).

    

    A failure
to provide within the time required certain informational reports delivered by
the Company prior to the date hereof under the terms of the Existing Note
Agreement (the “Reporting
Failures”).

    

    Any
failure to timely notify each holder of Notes that is an Institutional Investor,
or any other Person, of the Company’s knowledge of the Consolidated Net Debt to
EBITDA Ratio Failure, the Fixed Charge Coverage Failure and the Minimum Adjusted
Consolidated Net Worth Failure as required by the Note Purchase Agreement (the
“Notice Failures”).

    

    The Fixed
Charge Coverage Failure, the Consolidated Net Debt to EBITDA Ratio Failure, the
Minimum Adjusted Consolidated Net Worth Failure, the Representations and
Warranties Failures, the Condition Subsequent Failures, and the Reporting
Failures and the Notice Failures, as they are in effect on the date of this
Agreement, are collectively referred to as the “Specified
Defaults”.

    
      
         

      

      
        Schedule
3.4

        
          

        

      

      
         

      

    

    EXHIBIT
A

    

    [FORM
OF SERIES A SENIOR NOTE]

     

    SYPRIS
SOLUTIONS, INC.

     

    12.00%
Senior Note, Series A

    Due
January 15, 2010

    

    
      	
              No.
      AR-[___]

            	
              [Date]

            
	
              $[________]

            	
              PPN: 871655
      C*5

            

    

    

    FOR VALUE RECEIVED, the
undersigned, SYPRIS SOLUTIONS,
INC. (herein called the “Company”), a corporation organized and existing
under the laws of the State of Delaware, promises to pay to [___________], or registered
assigns, the principal sum of [________________] Dollars
($[_________]) on January 15, 2010, with interest (computed on the basis
of a 360-day year of twelve 30-day months) (a) on the unpaid balance thereof at
the rate of (i) 4.73% per annum at all times prior to, but not including, April
6, 2007, (ii) 7.25% per annum at all times on or after April 6, 2007 to, but not
including, April 1, 2009, and (iii) 12.00% per annum at all times on or after
April 1, 2009 (in each case subject to clause (b) below), payable monthly, on
the last day of each calendar month in each calendar year, commencing with the
first calendar month end next succeeding the date hereof, until the principal
hereof shall have become due and payable, and (b) to the extent permitted by
law, on any overdue payment of interest and, during the continuance of an Event
of Default, on such unpaid balance and on any overdue payment of any Make-Whole
Amount (as defined in the Note Purchase Agreement referred to below), payable
monthly as aforesaid (or, at the option of the registered holder hereof, on
demand), at a rate per annum from time to time equal to 14.00%.

     

    Payments
of principal of, interest on and any Make-Whole Amount with respect to this Note
are to be made in lawful money of the United States of America at the principal
office of J.P. Morgan Chase Bank, NA (or its successor) in Chicago, Illinois or
at such other place as the Company shall have designated by written notice to
the holder of this Note as provided in the Note Purchase Agreement referred to
below.

     

    This Note
is one of a series of Senior Notes (herein called the “Notes”) issued pursuant
to a Note Purchase Agreement dated as of June 1, 2004 (as from time to time
amended, the “Note Purchase Agreement”), between the Company and the respective
Purchasers named therein and is entitled to the benefits thereof. Each holder of
this Note will be deemed, by its acceptance hereof, (i) to have agreed to the
confidentiality provisions set forth in Section 20 of the Note Purchase
Agreement and (ii) to have made the representations and agreements set forth in
Section 6 of the Note Purchase Agreement.

     

    This Note
is a registered Note and, as provided in the Note Purchase Agreement, upon
surrender of this Note for registration of transfer, duly endorsed, or
accompanied by a written instrument of transfer duly executed, by the registered
holder hereof or such holder’s attorney duly authorized in writing, a new Note
for a like principal amount will be issued to, and registered in the name of,
the transferee. Prior to due presentment for registration of transfer, the
Company may treat the person in whose name this Note is registered as the owner
hereof for the purpose of receiving payment and for all other purposes, and the
Company will not be affected by any notice to the contrary.

    
      
         

      

      
        Exhibit
A-1

        
          

        

      

      
         

      

    

     

    This Note
is subject to optional prepayment, in whole or from time to time in part, and is
subject to mandatory prepayment of principal and other amounts due under the
Note Purchase Agreement, in each case at the times and on the terms specified in
the Note Purchase Agreement but not otherwise.

     

    If an
Event of Default, as defined in the Note Purchase Agreement, occurs and is
continuing, the principal of this Note may be declared or otherwise become due
and payable in the manner, at the price (including any applicable Make-Whole
Amount) and with the effect provided in the Note Purchase
Agreement.

     

    Payment
of the principal of, and interest and Make-Whole Amount, if any, on this Note,
and all other amounts due under the Note Purchase Agreement, is guaranteed
pursuant to the terms of a Subsidiary Guaranty dated as of June 1, 2004 of
certain Subsidiaries of the Company, as amended or supplemented from time to
time.

     

    This Note
shall be construed and enforced in accordance with, and the rights of the
parties shall be governed by, the law of the State of Illinois excluding
choice-of-law principles of the law of such State that would require the
application of the laws of a jurisdiction other than such State.

     

    
      
        	
                SYPRIS
      SOLUTIONS, INC.

              
	 
      
	
                By:

              	
                   

              
	
                Name:

              
	
                Title:

              

      

    

    
      
         

      

      
        Exhibit
A-2

        
          

        

      

      
         

      

    

    EXHIBIT
B

    

    [FORM
OF SERIES B SENIOR NOTE]

     

    SYPRIS
SOLUTIONS, INC.

     

    10.20%
Senior Note, Series B

    Due
January 15, 2010

    

    
      	
              No.
      BR-[___]

            	
              [Date]

            
	
              $[________]

            	
              PPN: 871655
      C@3

            

    

    

    FOR VALUE RECEIVED, the
undersigned, SYPRIS SOLUTIONS,
INC. (herein called the “Company”), a corporation organized and existing
under the laws of the State of Delaware, promises to pay to [___________], or registered
assigns, the principal sum of ________________] Dollars
($[_______]) on January 15, 2010, with interest (computed on the basis of
a 360-day year of twelve 30 day months) (a) on the unpaid balance thereof at the
rate of (i) 5.35% per annum at all times prior to, but not including, April 6,
2007, (ii) 7.45% per annum at all times on or after April 6, 2007 to, but not
including, April 1, 2009, and (iii) 10.20% per annum at all times on or after
April 1, 2009 (in each case subject to clause (b) below), payable monthly, on
the last day of each calendar month in each calendar year, commencing with the
first calendar month end next succeeding the date hereof, until the principal
hereof shall have become due and payable, and (b) to the extent permitted by
law, on any overdue payment of interest and, during the continuance of an Event
of Default, on such unpaid balance and on any overdue payment of any Make-Whole
Amount (as defined in the Note Purchase Agreement referred to below),
payable monthly as aforesaid (or, at the option of the registered holder hereof,
on demand), at a rate per annum from time to time equal to 12.20%.

     

    Payments
of principal of, interest on and any Make-Whole Amount with respect to this Note
are to be made in lawful money of the United States of America at the principal
office of J.P. Morgan Chase Bank, NA (or its successor) in Chicago, Illinois or
at such other place as the Company shall have designated by written notice to
the holder of this Note as provided in the Note Purchase Agreement referred to
below.

     

    This Note
is one of a series of Senior Notes (herein called the “Notes”) issued pursuant
to a Note Purchase Agreement dated as of June 1, 2004 (as from time to time
amended, the “Note Purchase Agreement”), between the Company and the respective
Purchasers named therein and is entitled to the benefits thereof. Each holder of
this Note will be deemed, by its acceptance hereof, (i) to have agreed to the
confidentiality provisions set forth in Section 20 of the Note Purchase
Agreement and (ii) to have made the representations and agreements set forth in
Section 6 of the Note Purchase Agreement.

     

    This Note
is a registered Note and, as provided in the Note Purchase Agreement, upon
surrender of this Note for registration of transfer, duly endorsed, or
accompanied by a written instrument of transfer duly executed, by the registered
holder hereof or such holder’s attorney duly authorized in writing, a new Note
for a like principal amount will be issued to, and registered in the name of,
the transferee. Prior to due presentment for registration of transfer, the
Company may treat the person in whose name this Note is registered as the owner
hereof for the purpose of receiving payment and for all other purposes, and the
Company will not be affected by any notice to the contrary.

    
      
         

      

      
        Exhibit
B-1

        
          

        

      

      
         

      

    

     

    This Note
is subject to optional prepayment, in whole or from time to time in part, and is
subject to mandatory prepayment of principal and other amounts due under the
Note Purchase Agreement, in each case at the times and on the terms specified in
the Note Purchase Agreement but not otherwise.

     

    If an
Event of Default, as defined in the Note Purchase Agreement, occurs and is
continuing, the principal of this Note may be declared or otherwise become due
and payable in the manner, at the price (including any applicable Make-Whole
Amount) and with the effect provided in the Note Purchase
Agreement.

     

    Payment
of the principal of, and interest and Make-Whole Amount, if any, on this Note,
and all other amounts due under the Note Purchase Agreement, is guaranteed
pursuant to the terms of a Subsidiary Guaranty dated as of June 1, 2004 of
certain Subsidiaries of the Company, as amended or supplemented from time to
time.

     

    This Note
shall be construed and enforced in accordance with, and the rights of the
parties shall be governed by, the law of the State of Illinois excluding
choice-of-law principles of the law of such State that would require the
application of the laws of a jurisdiction other than such State.

     

    
      
        
          	
                  SYPRIS
      SOLUTIONS, INC.

                
	 
      	 
      
	
                  By:

                	 
      
	
                  Name:

                	 
      
	
                  Title:

                	 
      

        

      

    

    
      
         

      

      
        Exhibit
B-2

        
          

        

      

      
         

      

    

    

    EXHIBIT
C

    

    [FORM
OF SERIES C SENIOR NOTE]

     

    SYPRIS
SOLUTIONS, INC.

     

    10.30%
Senior Note, Series C

    Due
January 15, 2010

    

    
      	
              No.
      CR-[___]

            	
              [Date]

            
	
              $[________]

            	
              PPN:
      871655 C#1

            

    

    

    FOR VALUE RECEIVED, the
undersigned, SYPRIS SOLUTIONS,
INC. (herein called the “Company”), a corporation organized and existing
under the laws of the State of Delaware, promises to pay to [___________], or registered
assigns, the principal sum of [________________] Dollars
($[________]) on January 15, 2010, with interest (computed on the basis
of a 360-day year of twelve 30-day months) (a) on the unpaid balance thereof at
the rate of (i) 5.78% per annum at all times prior to, but not including, April
6, 2007 and (ii) 7.55% per annum at all times on or after April 6, 2007 to, but
not including, April 1, 2009, and (iii) 10.30% per annum at all times on or
after April 1, 2009  (in each case subject to clause (b) below),
payable monthly, on the last day of each calendar month in each calendar year,
commencing with the first calendar month end next succeeding the date hereof
until the principal hereof shall have become due and payable, and (b) to the extent permitted by
law, on any overdue payment of interest and, during the continuance of an Event
of Default, on such unpaid balance and on any overdue payment of any Make-Whole
Amount (as defined in the Note Purchase Agreement referred to below),
payable monthly as aforesaid (or, at the option of the registered holder hereof,
on demand), at a rate per annum from time to time equal to 12.30%.

     

    Payments
of principal of, interest on and any Make-Whole Amount with respect to this Note
are to be made in lawful money of the United States of America at the principal
office of J.P. Morgan Chase Bank, NA (or its successor) in Chicago, Illinois or
at such other place as the Company shall have designated by written notice to
the holder of this Note as provided in the Note Purchase Agreement referred to
below.

     

    This Note
is one of a series of Senior Notes (herein called the “Notes”) issued pursuant
to a Note Purchase Agreement dated as of June 1, 2004 (as from time to time
amended, the “Note Purchase Agreement”), between the Company and the respective
Purchasers named therein and is entitled to the benefits
thereof.  Each holder of this Note will be deemed, by its acceptance
hereof, (i) to have agreed to the confidentiality provisions set forth in
Section 20 of the Note Purchase Agreement and (ii) to have made the
representations and agreements set forth in Section 6 of the Note Purchase
Agreement.

     

    This Note
is a registered Note and, as provided in the Note Purchase Agreement, upon
surrender of this Note for registration of transfer, duly endorsed, or
accompanied by a written instrument of transfer duly executed, by the registered
holder hereof or such holder’s attorney duly authorized in writing, a new Note
for a like principal amount will be issued to, and registered in the name of,
the transferee.  Prior to due presentment for registration of
transfer, the Company may treat the person in whose name this Note is registered
as the owner hereof for the purpose of receiving payment and for all other
purposes, and the Company will not be affected by any notice to the
contrary.

    
      
         

      

      
        Exhibit
C-1

        
          

        

      

      
         

      

    

     

    This Note
is subject to optional prepayment, in whole or from time to time in part, and is
subject to mandatory prepayment of principal and other amounts due under the
Note Purchase Agreement, in each case at the times and on the terms specified in
the Note Purchase Agreement but not otherwise.

     

    If an
Event of Default, as defined in the Note Purchase Agreement, occurs and is
continuing, the principal of this Note may be declared or otherwise become due
and payable in the manner, at the price (including any applicable Make-Whole
Amount) and with the effect provided in the Note Purchase
Agreement:

     

    Payment
of the principal of, and interest and Make-Whole Amount, if any, on this Note,
and all other amounts due under the Note Purchase Agreement, is guaranteed
pursuant to the terms of a Subsidiary Guaranty dated as of June 1, 2004 of
certain Subsidiaries of the Company, as amended or supplemented from time to
time.

     

    This Note
shall be construed and enforced in accordance with, and the rights of the
parties shall be governed by, the law of the State of Illinois excluding
choice-of-law principles of the law of such State that would require the
application of the laws of a jurisdiction other than such State.

     

    
      
        
          
            
              	
                      SYPRIS
      SOLUTIONS, INC.

                    
	 	 
	
                      By:

                    	 
      
	
                      Name:

                    	 
      
	
                      Title:

                    	 
      

            

          

        

      

    

    
      
         

      

      
        Exhibit
C-2

        
          

        

      

      
         

      

    

    EXHIBIT
D

    

    AMENDMENTS
TO EXISTING NOTE AGREEMENT

    

    
      	
              1.

            	
              Section
      7.1(h) of the Existing Note Agreement is hereby amended to delete the word
      “and” appearing after the semi-colon at the end of such
      section.

            

    

     

    
      	
              2.

            	
              New
      Sections 7.1(i) and (j) are hereby added to Section 7.1 of the Existing
      Note Agreement in their proper numeric order immediately following
      existing Section 7.1(h) to read in their entireties as
      follows:

            

    

     

    “(i)           13 Week Cash Flow
Forecast.  No later than the last calendar day of each week:
(i) a weekly cash flow forecast for each of the next 13 weeks and (ii) a
comparison of the actual weekly cash flow results against the Company’s forecast
for the preceding week and each prior week which forecast is consistent with the
forecasts as set forth in the Company’s 2009 Monthly Business Plan most recently
presented to, and validated by, the Company’s Financial Advisor (the “2009 Monthly Business Plan”);
and

     

    (j)           Information
Undertakings.  As soon as practicable, but in no event more
than 3 Business Days after receipt or delivery, as applicable, by the Company,
the following: (i) except if otherwise provided by the terms hereof, each
financial statement, report or similar document provided to any Lender
(excluding information to be sent to the Lenders in the ordinary course of the
administration of a banking facility, such as information related to pricing or
borrowing availability), (ii) any final written reports prepared by Alvarez
& Marshal and delivered to the Company, (iii) any final mutually agreed upon
term sheets provided by the Company to, or received by the Company from, any
Person who is arranging or providing refinancing of the Debt under the Note
Purchase Agreement or the Credit Agreement, (iv) weekly written updates on the
Company’s program to complete the Strategic Divestitures (including copies of
any bids or offers received from potential buyers), and (v) monthly updates of
its 2009 Monthly Business Plan.”

     

    
      	
              3.

            	
              A
      new Section 7.4 is added to the Existing Note Purchase
      Agreement.  Such Section 7.4 shall read in full as
      follows:

            

    

     

    “7.4       Bi-Weekly Telephone
Updates.

     

    Every
other Monday, beginning on April 6, 2009, one or more Responsible Officers will
participate in a conference call with each holder of Notes to provide them with
a detailed update concerning the business operations and most recent financial
results of the Company (each, a “Periodic Conference
Call”).  The Company will provide each holder of Notes with
sufficient time during each Periodic Conference Call to have its questions
answered.  Each Periodic Conference Call will be held at 10:00 a.m.
(prevailing New York City time) unless the Company and each holder of Notes
agree otherwise.”

    
      
         

      

      
        Exhibit
D-1

        
          

        

      

      
         

      

    

    

    
      	
              4.

            	
              Section
      8.1 of the Existing Note Agreement is hereby amended and restated as
      follows:

            

    

     

    “8.1.       Mandatory
Prepayments.

     

    (a)           No Scheduled
Prepayments.  No regularly scheduled prepayments are due on the
Notes prior to their stated maturity.

    

    (b)           Payment from
Proceeds.  Within (1) Business Day of the receipt by the
Company or any Subsidiary of (i) any Dana Payment, (ii) Mexican Loan Proceeds or
(iii) any proceeds from the sale of any Collateral outside the ordinary course
of business (with respect to such sale the “Aggregate Sale Proceeds” and after
subtracting investment banking fees, legal fees and other expenses directly
related to such sale, and after subtracting the applicable “Company Retained
Sale Proceeds” provided in the table below, the “Net Sale Proceeds”), the
Company shall give written notice thereof to each holder of Notes, which notice
shall set forth the amount of such Dana Payment, Mexican Loan Proceeds or such
Aggregate Sale Proceeds, Company Retained Sale Proceeds and Net Sale Proceeds
and shall specify a date (not more than 15 Business Days following receipt of
Dana Payment, Mexican Loan Proceeds or such Aggregate Sale Proceeds) on which
the Company will make a prepayment in respect of the Notes in accordance with
the terms of this Section 8.1(b).  On such prepayment date (the “Specified Prepayment Date”),
Dana Payment, Mexican Loan Proceeds or such Net Sale Proceeds shall be allocated
and paid to the Creditors in proportion to the respective Pro Rata Shares (as
such terms are defined in the Collateral Sharing Agreement and assuming for such
definition a Notice of Actionable Default shall have been received by the
Collateral Agent and not withdrawn) of the Creditors on such Specified
Prepayment Date, and the Company shall pay to each holder of a Note, and there
shall become due and payable, an aggregate principal amount of the Notes of such
holder (together with interest accrued on such Notes to the Specified Prepayment
Date) based on such holder’s Pro Rata Share.  The principal amounts
received by each holder of the Notes shall be applied as a prepayment of the
Notes without premium or penalty except as set forth herein based upon the then
outstanding principal balances of each Note held by it (for the avoidance of
doubt or confusion, no Make Whole Amount shall be due or payable in connection
with or as a result of any payment to any holder of Notes of any Dana Payment,
Mexican Loan Proceeds or Net Sales Proceeds so long as (i) the payment of its
Pro Rata Share of the Dana Proceeds, Mexican Loan Proceeds and the Net Sale
Proceeds is received by each holder of the Notes on or prior to January 15, 2010
and (ii) the amounts required to be paid to the holders of the Series B Notes
and the holders of the Series C Notes pursuant to the last paragraph of Section
9.9 have been paid in full to such holders on the Payoff Date.  The
foregoing shall not be construed to in any way limit the rights of the holders
of the Notes to receive Make Whole Amounts pursuant to Section
12.2).  The amounts paid to the Lenders shall be distributed to the
Lenders based upon their Pro Rata Shares (as defined in the Collateral Sharing
Agreement and assuming for such definition a Notice of Actionable Default shall
have been received by the Collateral Agent and not withdrawn) and, subject to
the provisions of Section 10.14, the Revolving Loan Commitments of such Lenders
shall be permanently reduced by an amount equal to the amounts so
received.  Notwithstanding any statement herein to the contrary, to
the extent that substantially all of the assets or equity interests in Sypris
Test & Measurement, Inc. and/or the engineered products division of Sypris
Technologies, Inc. are sold (each a “Strategic Divestiture”), the
“Company Retained Sale
Proceeds” of each Strategic Divestiture shall be as follows, depending
upon the month in which the closing date of each such transaction occurs (all
amounts expressed in thousands of U.S. dollars):

    
      
         

      

      
        Exhibit
D-2

        
          

        

      

      
         

      

    

    

    
      
        
          
            
              	
                      Closing
      Date (2009)

                    	 	
                      May

                    	 	 	
                      June

                    	 	 	
                      July

                    	 	 	
                      August

                    	 	 	
                      Sept

                    	 	 	
                      Oct

                    	 	 	
                      Nov

                    	 	 	
                      Dec

                    	 
	
                      Engineered
      Products

                    	 	 	3,759	 	 	 	3,420	 	 	 	2,915	 	 	 	2,441	 	 	 	1,973	 	 	 	1,351	 	 	 	924	 	 	 	377	 
	
                      Sypris
      Test & Measurement

                    	 	 	6,183	 	 	 	5,232	 	 	 	4,619	 	 	 	3,828	 	 	 	2,890	 	 	 	2,142	 	 	 	1,051	 	 	 	216	 

            

          

        

      

    

     

    (c)           Notice and Certification in
Connection with Dana Payment, Mexican Loan Proceeds and Aggregate Sale
Proceeds.  On or prior to the 5th
Business Day prior to such scheduled prepayment date, the Company shall send a
written notice to each holder of Notes which shall specify the aggregate
principal amount of the Notes of each series to be prepaid on such date, the
principal amount of each Note of such series held by such holder to be prepaid
(determined in accordance with Section 8.4), the interest to be paid on the
prepayment date with respect to such principal amount being prepaid, and the
principal amount of the loans held by each Lender being prepaid under Section
2.4D of the Credit Agreement in connection herewith.

    

    (d)           Company Retained Sale
Proceeds Fee.  The Company shall pay each holder of a Note a
monthly fee in an amount equal to the result of (i) such holder’s Pro Rata Share
(as defined in the Collateral Sharing Agreement and assuming for such definition
that a Notice of Actionable Default shall have been received by the Collateral
Agent and not withdrawn) times (ii) the aggregate
Company Retained Sale Proceeds with respect to each Strategic Divestiture times (iii) a fraction, the
numerator of which is the stated rate of interest of such Note and the
denominator of which is 12 (each a “Company Retained Sale Proceeds
Fee”).  Each such Company Retained Sales Proceeds Fee shall be
payable monthly on the same date interest is due on such Note.

    

    
      	
              5.

            	
              Section
      8.2 of the Existing Note Agreement is hereby amended and restated as
      follows:

            

    

     

    “8.2.       Optional
Prepayments.

     

    The
Company may, at its option, upon notice as provided below, prepay at any time
all, or from time to time any part of, the Notes (without regard to series) in
an amount not less than $500,000 in the aggregate in the case of a partial
prepayment, at 100% of the principal amount so prepaid, together with interest
accrued to the date of prepayment.  The Company will give each holder
of Notes to be prepaid written notice of each optional prepayment under this
Section 8.2 not less than 30 days and not more than 60 days prior to the date
fixed for such prepayment.  Each such notice shall specify such date,
the aggregate principal amount of the Notes to be prepaid on such date, the
principal amount of each Note held by such holder to be prepaid (determined in
accordance with Section 8.4), and the interest to be paid on the prepayment date
with respect to such principal amount being prepaid.”

    
      
         

      

      
        Exhibit
D-3

        
          

        

      

      
         

      

    

     

    
      	
              6.

            	
              Section
      8.4 of the Existing Note Agreement is hereby amended and restated as
      follows:

            

    

     

    “8.4        Allocation of Partial
Prepayments.

     

    In the case of each partial prepayment
of the Notes, the principal amount of the Notes to be prepaid shall be allocated
among all of the Notes (without regard to series) at the time outstanding in
proportion, as nearly as practicable, to the respective unpaid principal amounts
thereof not theretofore called for prepayment.”

     

    
      	
              7.

            	
              Section
      8.5 of the Existing Note Agreement is hereby amended and restated as
      follows:

            

    

     

    “8.5        Maturity; Surrender,
etc.

     

    Without
limiting and subject to the obligation of the Company to pay the applicable
Make-Whole Amount to the holders of the Notes pursuant to Section 12.1, in the
case of each prepayment of Notes pursuant to this Section 8, the principal
amount of each Note to be prepaid shall mature and become due and payable on the
date fixed for such prepayment, together with interest on such principal amount
accrued to such date.  From and after such date, unless the Company
shall fail to pay such principal amount when so due and payable, together with
the interest as aforesaid, interest on such principal amount shall cease to
accrue.  Any Note paid or prepaid in full shall be surrendered to the
Company and canceled and shall not be reissued, and no Note shall be issued in
lieu of any prepaid principal amount of any Note.”

     

    
      	
              8.

            	
              Section
      8.7 of the Existing Note Agreement is hereby amended by deleting the
      phrase “to be prepaid pursuant to Section 8.1(b) or Section 8.2” in the
      definitions of “Called Principal” and “Settlement Date” therein and
      replacing it with the phrase “is paid after January 15, 2010 as provided
      in Section 9.9”, and by amending and restating the definition of
      “Remaining Scheduled Payments” set forth therein to read in its entirety
      as follows:

            

    

     

    ““Remaining Scheduled Payments”
means, means, with respect to the Called Principal of any Note, all payments of
such Called Principal (determined as if the maturity date with respect to (i)
the Series B Notes were June 30, 2011 and (ii) the Series C Notes were June 30,
2014) and interest thereon (determined as though the per annum rates in effect
with respect to the Notes were the rates in effect immediately prior to the
effectiveness of the Third Amendment) that would be due after the Settlement
Date with respect to such Called Principal if no payment of such Called
Principal were made prior to its scheduled due date, provided that if such
Settlement Date is not a date on which interest payments are due to be made
under the terms of the Notes, then the amount of the next succeeding scheduled
interest payment will be reduced by the amount of interest accrued (at the per
annum rates noted above) to such Settlement Date and required to be paid on such
Settlement Date pursuant to Section 9.9 or Section 12.1.”

     

    
      	
              9.

            	
              New
      Sections 9.8, 9.9 and 9.10 are hereby added to the Existing Note Agreement
      immediately following Section 9.7 thereof to read in their entirety as
      follows:

            

    

     

    
      
        
        

      

      
        Exhibit
D-4

        
          

        

      

      
        
        

      

    

     

    “9.8        Financial
Advisors.

     

    (a)           Company’s Financial
Advisor.  Prior to the Fourth Amendment Effective Date, the
Company shall engage a financial advisor acceptable to the holders of the Notes
pursuant to the terms of an engagement agreement satisfactory to the holders of
the Notes after consultation with the Company (the “Company’s Financial
Advisor”).  The Company and the holders of the Notes agree that
the firm of Alvarez & Marsal is acceptable as of the Fourth Amendment
Effective Date.  The duties of the Company’s Financial Advisor will
include, without limitation, the following: (1) validate completeness and
reasonableness of the Company’s 2009 Monthly Business Plan and any adjustments
thereto; (2) validate and confirm the Company’s actions to execute the 2009
Monthly Business Plan, and (3) validate the execution of the investment banking
efforts to complete each Strategic Divesture.  The Company shall
provide the holders of the Notes, promptly after its receipt thereof, with all
final written reports prepared by the Company’s Financial Advisor.

     

    (b)           Noteholders’ Financial
Advisor.  The Company acknowledges and agrees that the holders
of the Notes (as a group) may, at their option, engage Conway, DelGenio, Gries
& Co., LLC (or any other financial advisor selected by them) as their
financial advisor (the “Noteholders’ Financial
Advisor” and together with the Company’s Financial Advisor, the “Financial Advisors”) to advise
them (as a group) on matters relating to the Company and its
Subsidiaries.  The Company shall, and shall cause each of its
Subsidiaries, their officers and advisors (including the Company’s financial
advisors and accountants) to, cooperate in a reasonable manner with, and in good
faith assist, the Noteholders’ Financial Advisor in the performance of its
duties for and on behalf of the holders of the Notes, and the Company will pay
the reasonable costs and expenses of the Noteholders’ Financial Advisor, and in
furtherance of the foregoing, will enter into a fee arrangement with the
Noteholders’ Financial Advisor as and when requested by the Required
Holders.

     

    9.9           Success
Fee.

    

    On the date (the “Payoff Date”) upon which the
Debt evidenced by all of the Notes is paid in full (the “Payoff”), the Company shall
pay to each holder of the Notes an amount equal to the product of (a) the
Applicable Percentage corresponding to the time period in which the Payoff Date
shall occur and (b) the outstanding principal amount of the Notes held by such
holder on the day immediately prior to the Payoff Date (the “Success Fee”).

    

    
      
        
          
            
              
                	
                        Payoff
      Date Occurring:

                      	 	
                        Applicable Percentage

                      	 
	
                        On
      or before July 31, 2009

                      	 	 	0.00	%
	
                        August
      1, 2009 to August 31, 2009

                      	 	 	0.25	%
	
                        September
      1, 2009 to September 30, 2009

                      	 	 	0.50	%
	
                        October
      1, 2009 to October  31, 2009

                      	 	 	1.00	%
	
                        November
      1, 2009 and thereafter

                      	 	 	1.50	%

              

            

          

        

      

    

    
      
         

      

      
        Exhibit
D-5

        
          

        

      

      
         

      

    

    Without
limiting and subject to the obligation of the Company to pay the applicable
Make-Whole Amount to the holders of the Notes pursuant to Section 12.1 and the
last sentence of this Section 9.9, the Company shall pay the following amounts
in addition to the Success Fee to the holders of the Notes on the Payoff Date in
lieu of any Make-Whole Amount which may be payable on or prior to January 15,
2010: (i) to each holder of the Series B Notes, an amount equal to (a) the
product of (x) $375,000 and (y) a fraction, the numerator of which is the
outstanding principal amount of the Series B Notes held by such holder on the
day immediately prior to the Payoff Date and the denominator of which is the
outstanding principal amount of all Series B Notes on such day and (ii) to each
holder of the Series C Notes, an amount equal to (a) the product of (x) $750,000
and (y) a fraction, the numerator of which is the outstanding principal amount
of the Series C Notes held by such holder on the day immediately prior to the
Payoff Date and the denominator of which is the outstanding principal amount of
all Series C Notes on such day.  Notwithstanding the foregoing, it is
agreed and understood that any and all payments on any Note made after January
15, 2010 shall be made together with accrued and unpaid interest and Make-Whole
Amount determined for the date of payment with respect to the principal amount
paid.

    

    9.10        Investment
Banking Plan Milestones and Payments.

    

    The Company shall take all efforts
necessary to complete each Strategic Divestiture as promptly as
possible.  Without limiting the foregoing it shall complete and comply
with the following as it relates to each Strategic Divestiture:

    

    (a)           With
respect to the process of marketing and selling the engineered products division
of Sypris Technologies, Inc. (“Engineered Products” or “EP”):

     

    (i)           The
Company shall submit the final management presentation to the holders of the
Notes no later than March 31, 2009;

     

    (ii)         The
Company shall arrange to make a data room available to potential buyers no later
than April 30, 2009;

     

    (iii)        The
Company shall make a call for initial, non-binding, indicative offers no later
than May 31, 2009;

     

    (iv)        The
Company shall report to the holders of the Notes no later than May 31, 2009
regarding initial offers received;

     

    (v)         The
Company shall make arrangements for potential buyer due diligence during the
periods from April 30, 2009 through May 31, 2009;

     

    (vi)        The
Company shall make a call for final offers no later than June 15,
2009;

     

    (vii)       The
Company shall provide the holders of the Notes with copies of all final offers
and bids, together with a report summary of such final offers and bids no later
than June 22, 2009;

    
      
         

      

      
        Exhibit
D-6

        
          

        

      

      
         

      

    

     

    (viii)      If
the Company receives one or more binding definitive offers to purchase for a
purchase price which will provide net proceeds (after transaction expenses) of
more than $18,000,000 in cash consideration (not including earn out and other
payments not paid in cash at the date of closing of the applicable sale) for EP
(an “EP Qualified
Offer”), the Company agrees to (1) accept the EP Qualified Offer on or
before July 15, 2009 and (2) use best efforts to close on the EP Qualified Offer
on or before August 15, 2009.  If the Company receives one or more
binding definitive offers to purchase for a purchase price which will provide
net proceeds (after transaction expenses) of less than or equal to $18,000,000
in cash consideration (not including earn out and other payments not paid in
cash at the date of closing of the applicable sale) for EP (an “EP Fairness Offer”), the
Company agrees to seek a fairness opinion from Lazard Middle Markets, and if the
value of the EP Fairness Offer is equal to or greater than the value rendered in
the fairness opinion, the Company agrees to (1) accept the EP Fairness Offer on
or before August 15, 2009 and (2) use best efforts to close on the EP Fairness
Offer on or before September 15, 2009; and

     

    (ix)         The
failure to observe or perform any of the covenants set forth in this
subparagraph (a), which failure continues uncured for a period of fourteen days,
shall constitute an Event of Default under Section 11(c).

     

    (b)           With
respect to the process of marketing and selling the business of Sypris Test
& Measurement, Inc. (“STM”):

     

    (i)           The
Company shall submit the final management presentation to the holders of the
Notes no later than May 31, 2009;

     

    (ii)         
The Company shall arrange to make a data room available to potential buyers no
later than June 30, 2009;

     

    (iii)         The
Company shall make a call for initial, non-binding, indicative offers no later
than May 31, 2009;

     

    (iv)         The
Company shall report to the holders of the Notes no later than June 15, 2009
regarding initial offers received;

     

    (v)          The
Company shall make arrangements for potential buyer due diligence during the
periods from June 30, 2009 through August 31, 2009;

     

    (vi)         The
Company shall make a call for final offers no later than September 15,
2009;

     

    (vii)        The
Company shall provide the holders of the Notes with copies of all final offers
and bids, together with a report summary of such final offers and bids no later
than September 22, 2009;

    
      
         

      

      
        Exhibit
D-7

        
          

        

      

      
         

      

    

     

    (viii)      If
the Company receives one or more binding definitive offers to purchase for a
purchase price which will provide net proceeds (after transaction expenses) of
more than $36,000,000 in cash consideration (not including earn out and other
payments not paid in cash at the date of closing of the applicable sale) for STM
(an “STM Qualified
Offer”), the Company agrees to (1) accept the STM Qualified Offer on or
before September 30, 2009 and (2) use best efforts to close on the STM Qualified
Offer on or before November 15, 2009.  If the Company receives one or
more binding definitive offers to purchase for a purchase price which will
provide net proceeds (after transaction expenses) of less than or equal to
$36,000,000 in cash consideration (not including earn out and other payments not
paid in cash at the date of closing of the applicable sale) for STM (an “STM Fairness Offer”), the
Company agrees to seek a fairness opinion from Needham & Co. and if the
value of the STM Fairness Offer is equal to or greater than the value rendered
in the fairness opinion, the Company agrees to (1) accept the STM Fairness Offer
on or before October 15, 2009 and (2) use best efforts to close on the STM
Fairness Offer on or before December 1, 2009; and

     

    (ix)         The
failure to observe or perform any of the covenants set forth in this
subparagraph (b), which failure continues uncured for a period of fourteen days,
shall constitute an Event of Default under Section 11(c).”

    

    
      	
              10.

            	
              Section
      10.1 is hereby amended and restated in its entirety to read as
      follows:

            

    

     

    “10.1      Cumulative Consolidated EBITDAR;
Capital Expenditures.

    

    (a)         Cumulative Consolidated EBITDAR.  The
Company will not permit the result of (i) Consolidated EBITDA plus, to the extent deducted
in determining such Consolidated EBITDA, rent paid (“EBITDAR”) for any period
beginning April 6, 2009 and ending on a date set forth in the table below, plus, (ii)
to the extent deducted in determining such EBITDAR,
restructuring charges as recorded in the Company’s financial statements, as
determined on a consolidated basis in accordance with GAAP, plus (iii) the Company
Retained Sale Proceeds from any Strategic Divestiture made during such period;
plus, (iv) to the
extent deducted in determining such EBITDAR, any
impairment of long-lived assets, goodwill, intangibles or any of the shares of
the stock of the Dana Entities; and (v) plus or minus any translation gains
or losses on the Company’s statement of operations due to changes in foreign
currency exchange rates, all as determined on a consolidated basis in accordance
with GAAP (for any period such result is referred to, “Cumulative Consolidated
EBITDAR” for such period), to be less than the amount set forth opposite
such date (all amounts shown in parentheses indicate negative
numbers):

     

    
      
        
          
            
              	
                      If Such Date is During the Period From

                      April 6, 2009 Through:

                    	 	
                      Minimum Cumulative

                      Consolidated EBITDAR

                    	 
	
                      July
      5, 2009

                    	 	$	(2,000,000	)
	
                      October
      4, 2009

                    	 	$	(500,000	)
	
                      December
      31, 2009

                    	 	$	2,000,000	 

            

          

        

      

    

    
      
         

      

      
        Exhibit
D-8

        
          

        

      

      
         

      

    

    

    (b)           Capital
Expenditures.  Other than as set forth in Schedule 10.1(b) to
the Fourth Amendment, the Company and its Subsidiaries shall not incur Capital
Expenditures in an aggregate amount in excess of $2,000,000 during the period
from the Fourth Amendment Effective Date.”

    

    
      	
              11.

            	
              Section
      10.2 is hereby amended and restated in their entirety to read as
      follows:

            

    

     

    “10.2.  Adjusted
Consolidated Net Worth; Liquidity.

     

    (a)           Adjusted Consolidated Net
Worth.  The Company will not permit the sum of Adjusted
Consolidated Net Worth as of the last day of any fiscal quarter noted in the
table below plus the
aggregate amount of any impairment of long-lived assets, goodwill, intangibles
or any of the shares of the stock of the Dana Entities taken year-to-date
through such fiscal quarter and reflected in such Adjusted Consolidated Net
Worth, to be less than the amount set forth for such day in such
table:

    

    
      
        
          
            
              	
                      Date

                    	 	
                      Minimum Levels

                    	 
	
                      July
      5, 2009

                    	 	$	55,000,000	 
	
                      October
      4, 2009

                    	 	$	50,000,000	 
	
                      December
      31, 2009

                    	 	$	45,000,000	 

            

          

        

      

    

    

    (b)           Liquidity.  On
the last five Business Days of each fiscal month, the sum of (1) the average
daily cash balance of the Company’s cash funds on hand (the “Cash Amount”) plus (2) the average daily
difference between the (a) Revolving Loan Commitments (as defined in the Credit
Agreement) and (b) the sum of (x) the entire aggregate then outstanding
principal balance of all Revolving Credit Loans (as defined in the Credit
Agreement) made by the Lenders pursuant to the Credit Agreement, (y) the then
existing Letter of Credit Usage (as defined in the Credit Agreement) and (z) the
then existing Swing Line Usage (as defined in the Credit Agreement) (such
calculation, the “Availability
Amount”) (the Cash Amount plus the Availability Amount, the “Liquidity Amount”) shall be
greater than or equal to the following Monthly Minimum Liquidity Amounts
(subject to adjustment as noted below) for each of the following
months:

     

    
      
        
          
            
              	
                      Fiscal Month Ending

                    	 	
                      Monthly Minimum Liquidity Amount*

                    	 
	
                      April
      5, 2009

                    	 	$	2,500,000	 
	
                      May
      3, 2009

                    	 	$	2,500,000	 
	
                      May
      31, 2009

                    	 	$	2,500,000	 
	
                      July
      5, 2009

                    	 	$	2,500,000	 
	
                      August
      2, 2009

                    	 	$	1,000,000	 
	
                      August
      30, 2009

                    	 	$	1,000,000	 
	
                      October
      4, 2009

                    	 	$	2,500,000	 
	
                      November
      1, 2009

                    	 	$	1,000,000	 
	
                      November
      29, 2009

                    	 	$	2,500,000	 
	
                      December
      31, 2009

                    	 	$	6,000,000	 

            

          

        

      

    

     

    
      
        
        

      

      
        Exhibit
D-9

        
          

        

      

      
        
        

      

    

     

    The
Monthly Minimum Liquidity Amount set forth in the table above shall
automatically be increased each fiscal month, beginning the fiscal month in
which the Company or any Subsidiary receives a tax refund from the government of
Mexico or any State or political subdivision of Mexico (a “Mexican Tax Refund”) by the
amount of the Mexican Tax Refund.  Solely for purposes of calculating
the Cash Amount in any such fiscal month, if the Mexican Tax Refund is received
in the last five Business Days of a fiscal month, it shall be deemed to have
been received on the fourth Business Day preceding the last Business Day of such
fiscal month.  Within five Business Days of the receipt of any Mexican
Tax Refund, the Company shall notify the holders of the Notes.

     

    The
Company’s compliance with this provision shall be evidenced by the Company’s
delivery of a certificate (a “Liquidity Certificate”) which
is due 15 days after the end of each fiscal month and which shall include a
calculation of the Liquidity Amount, separately setting forth the Availability
Amount and the Cash Amount as calculated for such prior month. In the event that
the Liquidity Amount falls below the Monthly Minimum Liquidity Amount (as
adjusted) in any fiscal month, the Company shall present a reasonably detailed,
written action plan to the holders of the Notes, no later than the delivery of
its Liquidity Certificate, designed to ensure that the Liquidity Amount exceeds
the Monthly Minimum Liquidity Amount (as adjusted) for the following fiscal
month.  In the event that the Company’s Liquidity Amount falls below
the Monthly Minimum Liquidity Amount (as adjusted) in any two consecutive fiscal
months, such failure shall constitute an Event of Default under Section
11(c).”

     

    
      	
              12.

            	
              Section
      10.3 of the Existing Note Agreement is hereby amended and restated as
      follows:

            

    

    

    “10.3      Indebtedness, Guaranties,
Etc.

    

    The
Company will not, and will not permit any Subsidiary to, directly or indirectly,
create, incur, assume, guarantee, agree to purchase or repurchase or provide
funds in respect of, or otherwise be or become liable with respect to any Debt
other than:

    

    (a)           Permitted
Senior Secured Debt;

    
      
         

      

      
        Exhibit
D-10

        
          

        

      

      
         

      

    

    

    (b)         obligations
to the Lenders or their Affiliates under credit card programs in an aggregate
amount for all such Persons not in excess of One Million Dollars ($1,000,000)
through April 23, 2009 and in excess of five hundred thousand dollars ($500,000)
thereafter;

    

    (c)          Debt,
other than Debt permitted under clauses (a) and (b) of this Section 10.3,
whether secured or unsecured, in an aggregate amount not to exceed two million
five hundred thousand dollars ($2,500,000); and

    

    (d)         Any
Guaranty by the Company or any Subsidiary Guarantor of Debt incurred by the
Company or any Subsidiary Guarantor that is permitted under clauses (a), (b) or
(c) of this Section 10.3.”

    

    
      	
              13.

            	
              Section
      10.4 of the Existing Note Agreement is hereby amended and restated as
      follows:

            

    

    

    
      	 	
              “10.4

            	
              Liens.

            

    

    

    The
Company will not, and will not permit any Subsidiary to, permit to exist,
create, assume or incur, directly or indirectly, any Lien on its properties or
assets (including, without limitation, any Lien on real property or improvements
thereon), whether now owned or hereafter acquired, except:

    

    (a)          Liens
on property and Capital Leases that are disclosed on Schedule 10.4 to the Fourth
Amendment;

    

    (b)          Liens
in favor of the Collateral Agent for the equal and ratable benefit of the
Lenders and the holders of Notes securing Permitted Senior Secured
Debt;

    

    (c)          Liens
for taxes, assessments or governmental charges not yet due and payable or the
payment of which is not at the time required under Section 9.4;

    

    (d)          Liens
incurred or deposits made in the ordinary course of business in connection with
worker's compensation, unemployment insurance and other types of social security
or to secure the performance of tenders, statutory obligations, surety and
appeal bonds, bids, leases, performance and return of money bonds and other
similar obligations (exclusive of obligations for the payment of borrowed money)
for sums not yet due or being contested in good faith and by appropriate
proceedings promptly initiated and diligently conducted, if such reserve or
other appropriate provision, if any, as shall be required by GAAP shall have
been made therefor;

    

    (e)           Liens
incidental to the conduct of business or the ownership of properties and assets
(including landlords’, lessors’, carriers’, operators’, warehousemen’s,
mechanics’, materialmen’s and other similar Liens) incurred in the ordinary
course of business and not in connection with the borrowing of
money;

    
      
         

      

      
        Exhibit
D-11

        
          

        

      

      
         

      

    

    

    (f)         
encumbrances in the nature of leases, subleases, zoning restrictions, easements,
rights of way, minor survey exceptions and other rights and restrictions of
record on the use of real property and defects in title arising or incurred in
the ordinary course of business, which, individually and in the aggregate, do
not materially detract from the value of such property or assets subject thereto
or materially impair the use of the property or assets subject thereto by the
Company or such Subsidiary; and

    

    (g)        
Liens resulting from extensions, renewals or replacements of Liens permitted by
paragraph (a), provided that (i) there is no increase in the principal amount or
decrease in maturity of the Debt secured thereby at the time of such extension,
renewal or replacement, (ii) any new Lien attaches only to the same property
theretofore subject to such earlier Lien and (iii) immediately after such
extension, renewal or replacement no Default or Event of Default would
exist.”

    

    
      	
              14.

            	
              Section
      10.5 of the Existing Note Agreement is hereby amended and restated as
      follows:

            

    

     

    “10.5.     Sale of Assets.

     

    The
Company will not, and will not permit any Subsidiary to, sell, lease, transfer
or otherwise dispose of, including by way of merger, any property, including
capital stock of Subsidiaries (collectively a “Disposition”), in one or a
series of transactions, to any Person, other than (a) Dispositions of inventory
and equipment in the ordinary course of business and (b) Strategic Divestitures
completed in accordance with the terms of Section 9.10 with the prior written
consent of the Required Holders].”

     

    
      	
              15.

            	
              Section
      10.6 of the Existing Note Agreement is hereby amended and restated as
      follows:

            

    

    

    “10.6      Mergers; Acquisitions;
Liquidations.

     

    The
Company and its Subsidiaries shall not:

     

    (a)           be
a party to any consolidation, reorganization (including without limitation those
types referred to in Section 368 of the United States Internal Revenue Code of
1986, as amended), recapitalization, “stock-swap” or merger; or

     

    (b)           liquidate
or dissolve or take any action with a view toward liquidation or dissolution;
or

     

    (c)           purchase
all or a substantial part of the Capital Stock or property of any Person or
business enterprise.”

     

    
      	
              16.

            	
              Section
      10.7 of the Existing Note Agreement is hereby amended and restated as
      follows:

            

    

    
      
         

      

      
        Exhibit
D-12

        
          

        

      

      
         

      

    

    

    “10.7     
Restricted
Payments.

     

    The
Company will not, and will not permit any of its Subsidiaries to, declare or
make, or incur any liability to declare or make, any Restricted
Payments.”

    

    
      	
              17.

            	
              Section
      10.9 of the Existing Note Agreement is hereby amended and restated as
      follows:

            

    

    

    
      	
               
      

            	
              “10.9

            	
              Limitations on Investments,
      Loans and Advances.

            

    

    

    The
Company shall not, and shall not permit any of its Subsidiaries to, make or
permit to exist any investment in, or make, accrue or permit to exist loans or
advances of money (any such investment, loan or advance an “Investment”), to any Person,
through the direct or indirect lending of money, holding of securities or
otherwise, except for:

    

    (a)          Investments
in the Company or any Subsidiary Guarantor;

     

    (b)         Investments
in Subsidiaries with operations outside the United States that have been made
prior to the Fourth Amendment Effective Date and were permitted to be made and
exist under the terms of the Existing Financing Documents (as defined in the
Fourth Amendment); or

     

    (c)         promissory
notes, trade receivables and other similar non-cash consideration received by
the Company and its Subsidiaries in connection with sales of inventory in the
ordinary course of business.”

    

    
      	
              18.

            	
              Section
      10.14 of the Existing Note Agreement is hereby amended and restated as
      follows:

            

    

    

    
      “10.14.  Commitments under
Credit Agreement.

    

     

    (a)        
The Company will not at any time permit the commitments of the Lenders under the
Credit Agreement to be less than $50,000,000 in the aggregate; provided that
such commitments may be reduced in connection with Sections 8.1(b), 8.2 and
10.17.

     

    (b)        
The Company will not any time permit the conditions to borrowing under the
Credit Agreement to be modified (other than to make such conditions less
restrictive on the Company) from the conditions set forth in the Credit
Agreement on the date hereof.”

     

    
      	
              19.

            	
              Section
      10.15 of the Existing Note Agreement is hereby amended and restated as
      follows:

            

    

     

    “10.15.  [Intentionally
Omitted.]”

     

    
      	
              20.

            	
              A
      new Section 10.17 is hereby added to the Existing Note Agreement
      immediately following Section 10.16 thereof to read in its entirety as
      follows:

            

    

    
      
         

      

      
        Exhibit
D-13

        
          

        

      

      
         

      

    

     

    “Section 10.17    
Payment of Debt.

     

    The Company will not, and will not
permit any of its Subsidiaries to, pay, defease or otherwise satisfy (in whole
or in part) in any manner (whether by set-off, exercise of remedies or
otherwise), the principal amount of any Debt that results in a permanent
reduction of the committed amount of such Debt (other than the Debt referred to
in Section 10.3(b) available to the Company, unless the principal of each Note
of each Series is prepaid concurrently with such principal payment, defeasance
or other satisfaction, such that each holder of Notes receives its pro rata
share of the total amount of Debt then being permanently reduced (calculated
based on the current principal amount of the specific facility being paid,
defeased or otherwise satisfied and the principal amount of all Permitted Senior
Secured Debt being prepaid that results in a permanent reduction of the
Commitments), together with accrued and unpaid interest in accordance with
Section 8.2 of the Existing Note Agreement.”

     

    
      	
              21.

            	
              Schedule
      B of the Existing Note Purchase Agreement is hereby amended as
      follows:

            

    

     

    (a)           New
definitions of “2009 Monthly
Business Plan”, “2009A
Amendment to Loan Documents”, “Aggregate Sale Proceeds”,
“Availability Amount”,
“Cash Amount”, “Company Retained Sales
Proceeds”, “Company’s
Financial Advisor”, “Cumulative Consolidated
EBITDAR”, “EBITDAR”, “Engineered Products”, “EP”, “EP Fairness Offer”, “EP Qualified Offer”, “Financial Advisors”, “Fourth Amendment”, “Fourth Amendment Effective
Date”, “Liquidity
Amount”, “Liquidity
Certificate”, “Mexican
Loan Proceeds”, “Mexican
Tax Refund”, “Net Sale
Proceeds”, “Noteholders’
Financial Advisor”, “Payoff”, “Payoff Date”, “Periodic Conference Call”,
“Specified Prepayment
Date”, “STM”,
“STM Fairness Offer”,
“STM Qualified Offer”,
“Strategic Divestiture”
and “Success Fee” are
hereby added in their proper alphabetical order as follows:

     

    “2009 Monthly Business Plan”
means the Company’s 2009 Monthly Business Plan delivered to the holders of the
Notes and the Lenders in writing on the Fourth Amendment Effective
Date.

     

    “2009A Amendment to Loan
Documents” means that certain 2009A Amendment to Loan Documents, dated as
of the Fourth Amendment Effective Date, among the Company, the Subsidiaries of
the Company named as guarantors therein, JPMorgan Chase Bank, N.A., as
Administrative Agent, and the other lenders party thereto.

     

    “Aggregate Sale Proceeds” is
defined in Section 8.1(b).

     

    “Availability Amount” is
defined in Section 10.2(b).

     

    “Cash Amount” is defined in
Section 10.2(b).

     

    “Company Retained Sale
Proceeds” is defined in Section 8.1(b).

     

    “Company’s Financial Advisor”
is defined in Section 9.8(a).

    
      
         

      

      
        Exhibit
D-14

        
          

        

      

      
         

      

    

     

    “Cumulative Consolidated
EBITDAR” is defined in Section 10.1(b).

     

    “EBITDAR” is defined in Section
10.1(a).

     

    “Engineered Products” or “EP” means the engineered
products division of Sypris Technologies, Inc.

     

    “EP Fairness Offer” is defined
in Section 9.10(a).

     

    “EP Qualified Offer” is defined
in Section 9.10(a).

     

    “Financial Advisors” is defined
in Section 9.8(b).

     

    
      “Fourth Amendment” means the Fourth
Amendment to Note Purchase Agreement dated as of April 1, 2009 by and among the
Company and the holders of the Notes, as amended, restated or otherwise modified
from time to time.

    

     

    “Fourth Amendment Effective
Date” means April 1, 2009.

     

    “Liquidity Amount” is defined
in Section 10.2(b).

     

    “Liquidity Certificate” is
defined in Section 10.2(b).

     

    “Mexican Loan Proceeds” means
any proceeds repatriated to the United States from any loan made by a
third-party lender to any of the Company’s Mexican subsidiaries with the prior
written consent of the Required Holders pursuant to documentation in form and
substance satisfactory to the Required Holders.

     

    “Mexican Tax Refund” is defined
in Section 10.2(b).

     

    “Net Sale Proceeds” is defined
in Section 8.1(b).

     

    “Noteholders’ Financial
Advisor” is defined in Section 9.8(b).

     

    “Payoff” is defined in Section
9.9.

     

    “Payoff Date” is defined in
Section 9.9.

     

    “Periodic Conference Call” is
defined in Section 7.4.

     

    “Specified Prepayment Date” is
defined in Section 8.1(b).

     

    “STM” means Sypris Test &
Measurement, Inc.

     

    “STM Fairness Offer” is defined
in Section 9.10(b).

     

    “STM Qualified Offer” is
defined in Section 9.10(b).

     

    “Strategic Divestiture” is
defined in Section 8.1(b).

    
      
         

      

      
        Exhibit
D-15

        
          

        

      

      
         

      

    

     

    “Success Fee” is defined in
Section 9.9.

     

    (b)           The
definitions of “Credit
Agreement”, “Dana
Payment” and “Permitted
Senior Secured Debt” are hereby amended and restated in full as
follows:

     

    “Credit Agreement” means the
Amended and Restated Loan Agreement, dated as of April 6, 2007, among the
Company, the Subsidiaries of the Company named as guarantors therein, JPMorgan
Chase Bank, N.A., as Administrative Agent, and the other lenders party thereto,
as amended by the 2009A Amendment to Loan Documents, dated as of the Fourth
Amendment Effective Date, among the Company, the Subsidiaries of the Company
named as guarantors therein, JPMorgan Chase Bank, N.A., as Administrative Agent,
and the other lenders party thereto, as such agreement may be hereafter amended,
modified, restated, supplemented, replaced, refinanced, increased or reduced
from time to time, and any successor credit agreement or similar
facility.

     

    “Dana Payment” means any cash
payment received (including by way of setoff) by the Company or any Subsidiary
(or otherwise paid in accordance with the instructions of the Company or any
Subsidiary) (i) under the terms of any one or more of the Dana Supply Agreements
upon any termination or rejection of such agreement or agreements in connection
with or arising out of the Dana Bankruptcy Proceedings, (ii) constituting cash
proceeds (including by way of setoff) from the sale, disposition, transfer or
liquidation of any interest in any claim of the Company or any Subsidiary for
damages arising out of such termination or rejection, or (iii) constituting cash
proceeds from the sale, disposition, transfer or liquidation of any and all
Capital Stock of Dana Holding Corporation.

     

    “Permitted Senior Secured Debt”
means the aggregate outstanding Principal Exposure (as such term is defined in
the Collateral Sharing Agreement) of all Creditors, together with accrued and
unpaid interest thereon, as of the Fourth Amendment Effective Date.

     

    (c)           The
definition of “Retained Dana Payment” is hereby deleted in its
entirety.

    
      
         

      

      
        Exhibit
D-16

        
          

        

      

      
         

      

    

    EXHIBIT
E

    

    MATTERS
TO BE COVERED BY GENERAL COUNSEL OPINION

    

    
      	
               
      

            	
              1.

            	
              Due
      organization, valid existence and good standing of
    Obligors.

            

    

     

    
      	
               
      

            	
              2.

            	
              Due
      authorization, execution and delivery of the Fourth Amendment
      Documents.

            

    

     

    
      	
               
      

            	
              3.

            	
              Execution
      and delivery of the Fourth Amendment Documents does not cause any conflict
      with agreements.

            

    

    
      
         

      

      
        Exhibit
E

        
          

        

      

      
         

      

    

    EXHIBIT
F

    

    MATTERS
TO BE COVERED BY OUTSIDE COUNSEL OPINION

    

    
      	
               
      

            	
              1.

            	
              The
      Financing Documents (as amended by the Fourth Amendment Documents),
      constitute the legal, valid and binding obligations of the Obligors,
      enforceable in accordance with their
terms.

            

    

     

    
      	
               
      

            	
              2.

            	
              Execution
      and delivery of the Fourth Amendment Documents does not cause any conflict
      with laws or judgments or the imposition of any
  Liens.

            

    

     

    
      	
               
      

            	
              3.

            	
              No
      consent, approval, notification or filing required with any Governmental
      Authority in connection with the execution, delivery and performance of
      the Financing Documents.

            

    

     

    
      	
               
      

            	
              4.

            	
              Validity,
      attachment and perfection of security interests created under Security
      Documents.

            

    

     

    
      	
               
      

            	
              5.

            	
              No
      state or local recording tax, stamp tax, documentary tax or other fees,
      taxes or governmental charges required to be paid in connection with
      transactions contemplated by the Fourth Amendment Documents other than
      nominal filing fees.

            

    

    
      
         

      

      
        Exhibit
F

        
          

        

      

      
         

      

    

    SCHEDULE
10.1(b)

    

    CAPITAL
EXPENDITURES

    

    Capital
Expenditure Summary

    Sypris
Solutions, Inc.

    

    
      
        
          
            
              	
                      Category

                    	 	
                      A&D

                    	 	 	
                      STM

                    	 	 	
                      ST

                    	 	 	
                      Corp

                    	 	 	
                      Total

                    	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                      Capacity

                    	 	 	631,820	 	 	 	375,000	 	 	 	81,702	 	 	 	-	 	 	 	1,088,522	 
	
                      Cost
      Savings

                    	 	 	439,120	 	 	 	12,000	 	 	 	608,353	 	 	 	-	 	 	 	1,059,473	 
	
                      Maintenance
      & HSE

                    	 	 	1,090,000	 	 	 	295,000	 	 	 	1,021,383	 	 	 	-	 	 	 	2,406,383	 
	
                      IT

                    	 	 	463,060	 	 	 	25,000	 	 	 	18,000	 	 	 	25,000	 	 	 	531,060	 
	
                      Bus.  Process

                    	 	 	-	 	 	 	-	 	 	 	142,500	 	 	 	-	 	 	 	142,500	 
	
                      Normal
      Cap Ex

                    	 	 	2,624,000	 	 	 	707,000	 	 	 	1,871,938	 	 	 	25,000	 	 	 	5,227,938	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                      Quench
      & Temper (Morganton)

                    	 	 	-	 	 	 	-	 	 	 	1,588,859	 	 	 	-	 	 	 	1,588,859	(1)
	
                      13K
      Hammer (Toluca)

                    	 	 	-	 	 	 	-	 	 	 	1,017,050	 	 	 	-	 	 	 	1,017,050	(2)
	
                      Other
      Restructuring

                    	 	 	-	 	 	 	-	 	 	 	370,950	 	 	 	-	 	 	 	370,950	 
	 
      	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
                      Restructuring
      Cap Ex

                    	 	 	-	 	 	 	-	 	 	 	2,976,859	 	 	 	-	 	 	 	2,976,859	 
	
                      Total
      Cap Ex

                    	 	 	2,624,000	 	 	 	707,000	 	 	 	4,848,797	 	 	 	25,000	 	 	 	8,204,797	 

            

          

        

      

    

    

    (1)
Quench & Temper - Related to transfer of trailer axle production from Kenton
to Morganton

    (2) 13K
Hammer - Related to transfer of large press parts production from Marion to
Toluca

    
      
         

      

      
        Schedule
10.1(b)

        
          

        

      

      
         

      

    

    SCHEDULE
10.16(b)

    

    LEASED
LOCATIONS/LANDLORD LIEN WAIVERS

    

    
      	
               
      

            	
              (i)

            	
              7307
      and 7337 South Revere Parkway, Centennial,
  Colorado;

            

    

    

    
      	
               
      

            	
              (ii)

            	
              160
      East Via Verde Road, San Dimas,
California;

            

    

    

    
      	
               
      

            	
              (iii)

            	
              10901
      Malcolm McKinley Drive, Tampa,
Florida;

            

    

    

    
      	
               
      

            	
              (iv)

            	
              2320
      W. Peoria Avenue, Bldg. D 133, Phoenix, Arizona;
  and

            

    

    

    
      	
               
      

            	
              (v)

            	
              7
      Sterling Avenue, Billerica,
Massachusetts.

            

    

    
      
         

      

      
        Schedule
10.16(b)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00165-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00165-of-00352.parquet"}]]