Document:

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                                                                    EXHIBIT 10.3

                          PLEDGE AND SECURITY AGREEMENT

                          DATED AS OF DECEMBER 22, 2005

                                     BETWEEN

                        EACH OF THE GRANTORS PARTY HERETO

                                       AND

                              THE BANK OF NEW YORK,

                             AS THE COLLATERAL AGENT

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                                TABLE OF CONTENTS

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(11)  SECTION 1. DEFINITIONS; GRANT OF SECURITY..........................     1
   1.1 General Definitions...............................................     1
   1.2 Definitions; Interpretation.......................................     7

(12)  SECTION 2. GRANT OF SECURITY.......................................     8
   2.1 Grant of Security.................................................     8
   2.2 Certain Limited Exclusions........................................     9

(13)  SECTION 3. SECURITY FOR OBLIGATIONS; GRANTORS REMAIN LIABLE........     9
   3.1 Security for Obligations..........................................     9
   3.2 Grantors Remain Liable............................................     9

(14)  SECTION 4. REPRESENTATIONS AND WARRANTIES AND COVENANTS............    10
   4.1 Generally.........................................................    10
   4.2 Equipment and Inventory...........................................    13
   4.3 Receivables.......................................................    14
   4.4 Investment Related Property.......................................    16
   4.5 Material Contracts................................................    21
   4.6 Letter of Credit Rights...........................................    22
   4.7 Intellectual Property.............................................    23
   4.8 Commercial Tort Claims............................................    20

(15)  SECTION 5. ACCESS; RIGHT OF INSPECTION AND FURTHER ASSURANCES;
                    ADDITIONAL GRANTORS..................................    27
   5.1 Access; Right of Inspection.......................................    27
   5.2 Further Assurances................................................    27
   5.3 Additional Grantors...............................................    28

(16)  SECTION 6. COLLATERAL AGENT APPOINTED ATTORNEY-IN-FACT.............    28
   6.1 Power of Attorney.................................................    28
   6.2 No Duty on the Part of Collateral Agent or Secured Parties........    29

(17)  SECTION 7. REMEDIES................................................    23
   7.1 Generally.........................................................    23
   7.2 Application of Proceeds...........................................    31
   7.3 Sales on Credit...................................................    31
   7.4 Deposit Accounts..................................................    24
   7.5 Investment Related Property.......................................    32
   7.6 Intellectual Property.............................................    34
   7.7 Cash Proceeds.....................................................    34
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(18)  SECTION 8. COLLATERAL AGENT........................................    34

(19)  SECTION 9. CONTINUING SECURITY INTEREST; TRANSFER OF LOANS.........    35

(20)  SECTION 10. STANDARD OF CARE; COLLATERAL AGENT MAY PERFORM.........    36

(21)  SECTION 11. MISCELLANEOUS..........................................    36
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SCHEDULE 4.1 -- GENERAL INFORMATION

SCHEDULE 4.2 -- LOCATION OF EQUIPMENT AND INVENTORY

SCHEDULE 4.4 -- INVESTMENT RELATED PROPERTY

SCHEDULE 4.5 -- MATERIAL CONTRACTS

SCHEDULE 4.6 -- DESCRIPTION OF LETTERS OF CREDIT

SCHEDULE 4.7 -- INTELLECTUAL PROPERTY - EXCEPTIONS

SCHEDULE 4.8 -- COMMERCIAL TORT CLAIMS

EXHIBIT A -- PLEDGE SUPPLEMENT

EXHIBIT B -- FORM OF GRANT OF TRADEMARK SECURITY INTEREST

EXHIBIT C -- FORM OF GRANT OF COPYRIGHT SECURITY INTEREST

EXHIBIT D -- FORM OF GRANT OF PATENT SECURITY INTEREST

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NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, THE LIEN AND SECURITY INTEREST
GRANTED TO THE COLLATERAL AGENT PURSUANT TO THIS AGREEMENT AND THE EXERCISE OF
ANY RIGHT OR REMEDY BY THE COLLATERAL AGENT HEREUNDER ARE SUBJECT TO THE
PROVISIONS OF THE INTERCREDITOR AGREEMENT, DATED AS OF DECEMBER 22, 2005 (AS
AMENDED, RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME, THE
"INTERCREDITOR AGREEMENT"), BY AND AMONG AUTOCAM CORPORATION, A MICHIGAN
CORPORATION, CITICORP NORTH AMERICA, INC., AS FIRST LIEN COLLATERAL AGENT, THE
BANK OF NEW YORK, AS SECOND LIEN COLLATERAL AGENT, AND CERTAIN OTHER PERSONS
PARTY THERETO OR THAT MAY BECOME PARTY THERETO FROM TIME TO TIME. IN THE EVENT
OF ANY CONFLICT BETWEEN THE TERMS OF THE INTERCREDITOR AGREEMENT AND THIS
AGREEMENT, THE TERMS OF THE INTERCREDITOR AGREEMENT SHALL GOVERN AND CONTROL AS
BETWEEN THE FIRST LIEN COLLATERAL AGENT AND THE COLLATERAL AGENT.

     This PLEDGE AND SECURITY AGREEMENT, dated as of December 22, 2005 (this
"AGREEMENT"), between EACH OF THE UNDERSIGNED, whether as an original signatory
hereto or as an Additional Grantor (as herein defined) (each, a "GRANTOR"), and
THE BANK OF NEW YORK, as collateral agent for the Secured Parties (as herein
defined) (in such capacity as collateral agent, the "COLLATERAL AGENT").

                                    RECITALS:

     WHEREAS, reference is made to that certain Term Loan and Guaranty
Agreement, dated as of the date hereof (as it may be amended, restated,
supplemented or otherwise modified from time to time, the "CREDIT AGREEMENT"),
by and among AUTOCAM CORPORATION, a Michigan corporation ("COMPANY"), TITAN
HOLDINGS, INC., a Delaware corporation ("HOLDINGS"), certain Subsidiaries of
Company, as Guarantors, the Lenders party thereto from time to time, GOLDMAN
SACHS CREDIT PARTNERS L.P. ("GSCP") as Lead Arranger, Sole Book Runner and
Syndication Agent, THE BANK OF NEW YORK, as Administrative Agent and Collateral
Agent;

     WHEREAS, subject to the terms and conditions of the Credit Agreement,
certain Grantors may enter into one or more Hedge Agreements with one or more
Lender Counterparties;

     WHEREAS, pursuant to the First Lien Credit Agreement and First Lien
Security Agreement, Grantors have incurred and may in the future incur
Indebtedness and created security interests in favor of First Lien Collateral
Agent, which security interests, pursuant to the provisions of the Intercreditor
Agreement, are senior to the security interests created hereby; and

     WHEREAS, in consideration of the extensions of credit and other
accommodations of Lenders and Lender Counterparties as set forth in the Credit
Agreement and the Hedge Agreements, respectively, each Grantor has agreed to
secure such Grantor's obligations under the Credit Documents and the Hedge
Agreements as set forth herein;

     NOW, THEREFORE, in consideration of the premises and the agreements,
provisions and covenants herein contained, each Grantor and the Collateral Agent
agree as follows:

SECTION 1. DEFINITIONS; GRANT OF SECURITY.

     1.1 GENERAL DEFINITIONS. In this Agreement, the following terms shall have
the following meanings:

          "ACCOUNT DEBTOR" shall mean each Person who is obligated on a
Receivable or any Supporting Obligation related thereto.

          "ACCOUNTS" shall mean all "accounts" as defined in Article 9 of the
UCC.

          "ADDITIONAL GRANTORS" shall have the meaning assigned in Section 5.3.

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          "AGREEMENT" shall have the meaning set forth in the preamble.

          "ASSIGNED AGREEMENTS" shall mean all agreements and contracts to which
such Grantor is a party as of the date hereof, or to which such Grantor becomes
a party after the date hereof, including, without limitation, each Material
Contract, as each such agreement may be amended, supplemented or otherwise
modified from time to time.

          "CASH PROCEEDS" shall have the meaning assigned in Section 7.7.

          "CHATTEL PAPER" shall mean all "chattel paper" as defined in Article 9
of the UCC, including, without limitation, "electronic chattel paper" or
"tangible chattel paper", as each term is defined in Article 9 of the UCC.

          "COLLATERAL" shall have the meaning assigned in Section 2.1.

          "COLLATERAL AGENT" shall have the meaning set forth in the preamble.

          "COLLATERAL RECORDS" shall mean books, records, ledger cards, files,
correspondence, customer lists, blueprints, technical specifications, manuals,
computer software, computer printouts, tapes, disks and related data processing
software and similar items that at any time evidence or contain information
relating to any of the Collateral or are otherwise necessary or helpful in the
collection thereof or realization thereupon.

          "COLLATERAL SUPPORT" shall mean all property (real or personal)
assigned, hypothecated or otherwise securing any Collateral and shall include
any security agreement or other agreement granting a lien or security interest
in such real or personal property.

          "COMMERCIAL TORT CLAIMS" shall mean all "commercial tort claims" as
defined in Article 9 of the UCC, including, without limitation, all commercial
tort claims listed on Schedule 4.8 (as such schedule may be amended or
supplemented from time to time).

          "COMMODITIES ACCOUNTS" (i) shall mean all "commodity accounts" as
defined in Article 9 of the UCC that are (a) maintained at Comerica or (b) have
a principle balance with a value in excess of $200,000 for such account and
$1,000,000 in the aggregate for all such accounts and (ii) shall include,
without limitation, all of the accounts listed on Schedule 4.4 under the heading
"COMMODITIES ACCOUNTS" (as such schedule may be amended or supplemented from
time to time).

          "COMPANY" shall have the meaning set forth in the recitals.

          "CONTROLLED FOREIGN CORPORATION" shall mean "controlled foreign
corporation" as defined in the Tax Code. For avoidance of doubt, Autocam Europe
B.V. and Autocam France, SARL are not Controlled Foreign Corporations.

          "COPYRIGHT LICENSES" shall mean any and all agreements providing for
the granting of any right in or to Copyrights (whether such Grantor is licensee
or licensor thereunder) including, without limitation, each agreement referred
to in Schedule 4.7(B) (as such schedule may be amended or supplemented from time
to time).

          "COPYRIGHTS" shall mean all United States, and foreign copyrights
(including Community designs), including but not limited to copyrights in
software and databases, and all mask works (as defined under 17 U.S.C. 901 of
the U.S. Copyright Act), whether registered or unregistered, and, with respect
to any and all of the foregoing: (i) all registrations and applications therefor
including, without limitation, the registrations and applications applied for
thereon in the United States and any state thereof and in foreign countries
referred to in Schedule 4.7(A) (as such schedule may be amended or supplemented
from time to time), (ii) all extensions and renewals thereof, (iii) all rights
corresponding thereto throughout the world, (iv) all rights to sue for past,
present and future infringements thereof, and (v) all Proceeds of the foregoing,
including, without limitation, licenses, royalties, income, payments, claims,
damages and proceeds of suit.

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          "CREDIT AGREEMENT" shall have the meaning set forth in the recitals.

          "DEPOSIT ACCOUNT CONTROL AGREEMENT" means an agreement establishing
the Collateral Agent's "control" of a deposit account for purposes of Article 9
of the UCC in a form reasonably satisfactory to the Collateral Agent.

          "DEPOSIT ACCOUNTS" (i) shall mean all "deposit accounts" as defined in
Article 9 of the UCC that are (a) maintained at Comerica or (b) have a principal
balance with a value in excess of $200,000 for such account and $1,000,000 in
the aggregate for all such accounts and (ii) shall include, without limitation,
all of the accounts listed on Schedule 4.4 under the heading "Deposit Accounts"
(as such schedule may be amended or supplemented from time to time).

          "DOCUMENTS" shall mean all "documents" as defined in Article 9 of the
UCC.

          "EQUIPMENT" shall mean: (i) all "equipment" as defined in Article 9 of
the UCC, (ii) all machinery, manufacturing equipment, data processing equipment,
computers, office equipment, furnishings, furniture, appliances, fixtures and
tools (in each case, regardless of whether characterized as equipment under the
UCC) and (iii) all accessions or additions thereto, all parts thereof, whether
or not at any time of determination incorporated or installed therein or
attached thereto, and all replacements therefor, wherever located, now or
hereafter existing, including any fixtures.

          "FIRST LIEN SECURITY AGREEMENT" shall mean the Pledge and Security
Agreement dated as of June 21, 2004 by and among Company, Holdings, certain
Subsidiaries of Company and First Lien Collateral Agent, as amended from time to
time.

          "GENERAL INTANGIBLES" (i) shall mean all "general intangibles" as
defined in Article 9 of the UCC, including "payment intangibles" also as defined
in Article 9 of the UCC and (ii) shall include, without limitation, all interest
rate or currency protection or hedging arrangements, all tax refunds, all
licenses, permits, concessions and authorizations, all Assigned Agreements and
all Intellectual Property (in each case, regardless of whether characterized as
general intangibles under the UCC).

          "GOODS" (i) shall mean all "goods" as defined in Article 9 of the UCC
and (ii) shall include, without limitation, all Inventory and Equipment (in each
case, regardless of whether characterized as goods under the UCC).

          "GRANT" means a Grant of Trademark Security Interest, substantially in
the form of Exhibit B annexed hereto, and a Grant of Patent Security Interest,
substantially in the form of Exhibit C annexed hereto, and/or a Grant of
Copyright Security Interest, substantially in the form of Exhibit D annexed
hereto.

          "GRANTORS" shall have the meaning set forth in the preamble.

          "INSTRUMENTS" shall mean all "instruments" as defined in Article 9 of
the UCC.

          "INSURANCE" shall mean (i) all insurance policies covering any or all
of the Collateral (regardless of whether the Collateral Agent is the loss payee
thereof) and (ii) any key man life insurance policies.

          "INTELLECTUAL PROPERTY" shall mean, collectively, the Copyrights, the
Copyright Licenses, the Patents, the Patent Licenses, the Trademarks, the
Trademark Licenses, the Trade Secrets, and the Trade Secret Licenses.

          "INTERCOMPANY INDEBTEDNESS" shall mean all Indebtedness of any Grantor
to another Grantor.

          "INVENTORY" shall mean (i) all "inventory" as defined in Article 9 of
the UCC and (ii) all goods held for sale or lease or to be furnished under
contracts of service or so leased or furnished, all raw materials, work in
process, finished goods, and materials used or consumed in the manufacture,
packing, shipping, advertising,

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selling, leasing, furnishing or production of such inventory or otherwise used
or consumed in any Grantor's business; all goods in which any Grantor has an
interest in mass or a joint or other interest or right of any kind; and all
goods which are returned to or repossessed by any Grantor, all computer programs
embedded in any goods and all accessions thereto and products thereof (in each
case, regardless of whether characterized as inventory under the UCC).

          "INVESTMENT ACCOUNTS" shall mean the Securities Accounts, Commodities
Accounts and Deposit Accounts.

          "INVESTMENT RELATED PROPERTY" shall mean: (i) all "investment
property" (as such term is defined in Article 9 of the UCC) and (ii) all of the
following (regardless of whether classified as investment property under the
UCC): all Pledged Equity Interests, Pledged Debt, the Investment Accounts and
certificates of deposit.

          "LENDER" shall have the meaning set forth in the recitals.

          "LETTER OF CREDIT RIGHT" shall mean "letter-of-credit right" as
defined in Article 9 of the UCC.

          "MATERIAL IMPAIRMENT" means a material adverse effect on the value of
any material Collateral or the rights of the Collateral Agent (acting for the
benefit of the Secured Parties) in respect thereof, including the rights to levy
legal process or to sell such Collateral upon foreclosure.

          "MONEY" shall mean "money" as defined in the UCC.

          "PATENT LICENSES" shall mean all agreements providing for the granting
of any right in or to Patents (whether such Grantor is licensee or licensor
thereunder) including, without limitation, each agreement referred to in
Schedule 4.7(D) (as such schedule may be amended or supplemented from time to
time).

          "PATENTS" shall mean all United States and foreign patents and
certificates of invention, or similar industrial property rights, and
applications for any of the foregoing, including, but not limited to: (i) each
patent and patent application referred to in Schedule 4.7(C) hereto (as such
schedule may be amended or supplemented from time to time), (ii) all reissues,
divisions, continuations, continuations-in-part, extensions, renewals, and
reexaminations thereof, (iii) all rights corresponding thereto throughout the
world, (iv) all inventions and improvements described therein, (v) all rights
(but not obligations) to sue for past, present and future infringements thereof,
(vi) all licenses, claims, damages, and proceeds of suit arising therefrom, and
(vii) all Proceeds of the foregoing, including, without limitation, licenses,
royalties, income, payments, claims, damages, and proceeds of suit.

          "PLEDGE SUPPLEMENT" shall mean any supplement to this agreement in
substantially the form of Exhibit A.

          "PLEDGED DEBT" shall mean all Indebtedness owed to such Grantor,
including, without limitation, all Intercompany Indebtedness and Indebtedness
described on Schedule 4.4(A) under the heading "Pledged Debt" (as such schedule
may be amended or supplemented from time to time), issued by the obligors named
therein, the instruments evidencing such Indebtedness, and all interest, cash,
instruments and other property or proceeds from time to time received,
receivable or otherwise distributed in respect of or in exchange for any or all
of such Indebtedness.

          "PLEDGED EQUITY INTERESTS" shall mean all Pledged Stock, Pledged LLC
Interests, Pledged Partnership Interests and Pledged Trust Interests.

          "PLEDGED LLC INTERESTS" shall mean all interests acquired in any
limited liability company including, without limitation, all limited liability
company interests listed on Schedule 4.4(A) under the heading "Pledged LLC
Interests" (as such schedule may be amended or supplemented from time to time)
and the certificates, if any, representing such limited liability company
interests and any interest of such Grantor on the books and records of such
limited liability company or on the books and records of any securities
intermediary pertaining to

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such interest and all dividends or other distributions from time to time
received, receivable or otherwise distributed in respect of or in exchange for
any or all of such limited liability company interests.

          "PLEDGED PARTNERSHIP INTERESTS" shall mean all interests acquired in
any general partnership, limited partnership, limited liability partnership or
other partnership including, without limitation, all partnership interests
listed on Schedule 4.4(A) under the heading "Pledged Partnership Interests" (as
such schedule may be amended or supplemented from time to time) and the
certificates, if any, representing such partnership interests and any interest
of such Grantor on the books and records of such partnership or on the books and
records of any securities intermediary pertaining to such interest and all
dividends or other distributions from time to time received, receivable or
otherwise distributed in respect of or in exchange for any or all of such
partnership interests.

          "PLEDGED STOCK" shall mean all shares of capital stock owned by such
Grantor, including, without limitation, all shares of capital stock described on
Schedule 4.4(A) under the heading "Pledged Stock" (as such schedule may be
amended or supplemented from time to time), and the certificates, if any,
representing such shares and any interest of such Grantor in the entries on the
books of the issuer of such shares or on the books of any securities
intermediary pertaining to such shares, and all dividends or other distributions
from time to time received, receivable or otherwise distributed in respect of or
in exchange for any or all of such shares.

          "PLEDGED TRUST INTERESTS" shall mean all interests acquired in a
Delaware business trust or other statutory trust including, without limitation,
all trust interests listed on Schedule 4.4(A) under the heading "Pledged Trust
Interests" (as such schedule may be amended or supplemented from time to time)
and the certificates, if any, representing such trust interests and any interest
of such Grantor on the books and records of such trust or on the books and
records of any securities intermediary pertaining to such interest and all
dividends, distributions, cash, warrants, rights, options, instruments,
securities and other property or proceeds from time to time received, receivable
or otherwise distributed in respect of or in exchange for any or all of such
trust interests.

          "PROCEEDS" shall mean: (i) all "proceeds" as defined in Article 9 of
the UCC, (ii) payments or distributions made with respect to any Investment
Related Property and (iii) whatever is receivable or received when Collateral or
proceeds are sold, exchanged, collected or otherwise disposed of, whether such
disposition is voluntary or involuntary.

          "RECEIVABLES" shall mean all rights to payment, whether or not earned
by performance, for goods or other property sold, leased, licensed, assigned or
otherwise disposed of, or services rendered or to be rendered, including,
without limitation all such rights constituting or evidenced by any Account,
Chattel Paper or Instrument, together with all of Grantor's rights, if any, in
any goods or other property giving rise to such right to payment and all
Collateral Support and Supporting Obligations related thereto and all
Receivables Records.

          "RECEIVABLES RECORDS" shall mean (i) all original copies of all
documents, instruments or other writings or electronic records or other Records
evidencing the Receivables, (ii) all books, correspondence, credit or other
files, Records, ledger sheets or cards, invoices, and other papers relating to
Receivables, including, without limitation, all tapes, cards, computer tapes,
computer discs, computer runs, record keeping systems and other papers and
documents relating to the Receivables, whether in the possession or under the
control of Grantor or any computer bureau or agent from time to time acting for
Grantor or otherwise, (iii) all evidences of the filing of financing statements
and the registration of other instruments in connection therewith, and
amendments, supplements or other modifications thereto, notices to other
creditors or secured parties, and certificates, acknowledgments, or other
writings, including, without limitation, lien search reports, from filing or
other registration officers, (iv) all credit information, reports and memoranda
relating thereto and (v) all other written or nonwritten forms of information
related in any way to the foregoing or any Receivable.

          "RECORD" shall have the meaning specified in Article 9 of the UCC.

          "SECURED OBLIGATIONS" shall have the meaning assigned in Section 3.1.

          "SECURED PARTIES" shall mean the Agents, the Lenders and the Lender
Counterparties and shall include, without limitation, all former Agents, Lenders
and Lender Counterparties to the extent that any Obligations

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owing to such Persons were incurred while such Persons were Agents, Lenders or
Lender Counterparties and such Obligations have not been paid or satisfied in
full.

          "SECURITIES ACCOUNT CONTROL AGREEMENT" means an agreement establishing
the Collateral Agent's "control" of a securities account or a commodities
account for purposes of Article 9 of the UCC in a form reasonably satisfactory
to the Collateral Agent.

          "SECURITIES ACCOUNTS" (i) shall mean all "securities accounts" as
defined in Article 8 of the UCC that are (a) maintained at Comerica or (b) have
a principle balance with a value in excess of $200,000 for such account and
$1,000,000 in the aggregate for all such accounts and (ii) shall include,
without limitation, all of the accounts listed on Schedule 4.4(A) under the
heading "Securities Accounts" (as such schedule may be amended or supplemented
from time to time).

          "SECURITIES ENTITLEMENTS" shall mean all "securities entitlements" as
defined in Article 8 of the UCC.

          "SUPPORTING OBLIGATION" shall mean all "supporting obligations" as
defined in Article 9 of the UCC.

          "TAX CODE" shall mean the United States Internal Revenue Code of 1986,
as amended from time to time.

          "TRADEMARK LICENSES" shall mean any and all agreements providing for
the granting of any right in or to Trademarks (whether such Grantor is licensee
or licensor thereunder) including, without limitation, each agreement referred
to in Schedule 4.7(F) (as such schedule may be amended or supplemented from time
to time).

          "TRADEMARKS" shall mean all United States, and foreign trademarks,
trade names, corporate names, company names, business names, fictitious business
names, Internet domain names, service marks, certification marks, collective
marks, logos, other source or business identifiers, designs and general
intangibles of a like nature, all registrations and applications for any of the
foregoing including, but not limited to: (i) the registrations and applications
referred to in Schedule 4.7(E) (as such schedule may be amended or supplemented
from time to time), (ii) all extensions or renewals of any of the foregoing,
(iii) all of the goodwill of the business connected with the use of and
symbolized by the foregoing, (iv) the right to sue for past, present and future
infringement or dilution of any of the foregoing or for any injury to goodwill,
and (v) all Proceeds of the foregoing, including, without limitation, licenses,
royalties, income, payments, claims, damages, and proceeds of suit.

          "TRADE SECRET LICENSES" shall mean any and all agreements providing
for the granting of any right in or to Trade Secrets (whether such Grantor is
licensee or licensor thereunder) including, without limitation, each agreement
referred to in Schedule 4.7(G) (as such schedule may be amended or supplemented
from time to time).

          "TRADE SECRETS" shall mean all trade secrets and all other
confidential or proprietary information and know-how whether or not such Trade
Secret has been reduced to a writing or other tangible form, including all
documents and things embodying, incorporating, or referring in any way to such
Trade Secret, including but not limited to: (i) the right to sue for past,
present and future misappropriation or other violation of any Trade Secret, and
(ii) all Proceeds of the foregoing, including, without limitation, licenses,
royalties, income, payments, claims, damages, and proceeds of suit.

          "UCC" shall mean the Uniform Commercial Code as in effect from time to
time in the State of New York or, when the context implies, the Uniform
Commercial Code as in effect from time to time in any other applicable
jurisdiction.

          "UNCERTIFICATED SECURITIES CONTROL AGREEMENT" means an agreement
establishing the Collateral Agent's "control" of uncertificated securities for
purposes of Article 9 of the UCC in a form reasonably satisfactory to the
Collateral Agent.

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          "UNITED STATES" shall mean the United States of America.

     1.2 DEFINITIONS; INTERPRETATION. All capitalized terms used herein
(including the preamble and recitals hereto) and not otherwise defined herein
shall have the meanings ascribed thereto in the Credit Agreement or, if not
defined therein, in the UCC. References to "Sections," "Exhibits" and
"Schedules" shall be to Sections, Exhibits and Schedules, as the case may be, of
this Agreement unless otherwise specifically provided. Section headings in this
Agreement are included herein for convenience of reference only and shall not
constitute a part of this Agreement for any other purpose or be given any
substantive effect. Any of the terms defined herein may, unless the context
otherwise requires, be used in the singular or the plural, depending on the
reference. The use herein of the word "include" or "including", when following
any general statement, term or matter, shall not be construed to limit such
statement, term or matter to the specific items or matters set forth immediately
following such word or to similar items or matters, whether or not nonlimiting
language (such as "without limitation" or "but not limited to" or words of
similar import) is used with reference thereto, but rather shall be deemed to
refer to all other items or matters that fall within the broadest possible scope
of such general statement, term or matter. If any conflict or inconsistency
exists between this Agreement and the Credit Agreement, the Credit Agreement
shall govern. All references herein to provisions of the UCC shall include all
successor provisions under any subsequent version or amendment to any Article of
the UCC.

SECTION 2. GRANT OF SECURITY.

     2.1 GRANT OF SECURITY. Each Grantor hereby grants to the Collateral Agent
for the ratable benefit of the Secured Parties a security interest in and
continuing lien on all of such Grantor's right, title and interest in, to and
under all personal property of such Grantor including, but not limited to the
following, in each case whether now owned or existing or hereafter acquired or
arising and wherever located (all of which, except as provided in Section 2.2,
being hereinafter collectively referred to as the "COLLATERAL"):

          (a) Accounts;

          (b) Chattel Paper;

          (c) Documents;

          (d) General Intangibles;

          (e) Goods;

          (f) Instruments;

          (g) Insurance;

          (h) Intellectual Property;

          (i) Investment Related Property;

          (j) Letter of Credit Rights;

          (k) Money;

          (l) Receivables and Receivable Records;

          (m) Commercial Tort Claims;

          (n) to the extent not otherwise included above, all Collateral
Records, Collateral Support and Supporting Obligations relating to any of the
foregoing; and

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          (o) to the extent not otherwise included above, all Proceeds,
products, Accessions, rents and profits of or in respect of any of the
foregoing.

     2.2 CERTAIN LIMITED EXCLUSIONS. Notwithstanding anything contained in
Section 2.1 hereof or anything else herein to the contrary, in no event shall
the Collateral include, and no Grantor shall be deemed to have granted a
security interest in, any of such Grantor's right, title or interest (a) in any
Intellectual Property if the grant of such security interest shall constitute or
result in (i) the abandonment, invalidation or rendering unenforceable any
right, title or interest of any Grantor therein, or (ii) the breach or
termination pursuant to the terms of, or a default under, any Intellectual
Property or (iii) the violation of any applicable law; (b) in any General
Intangible if the grant of such security interest (i) shall be prohibited by any
contract, agreement, instrument or indenture governing such General Intangible,
(ii) would give any other party to such contract, agreement, instrument or
indenture the right to terminate its obligations thereunder or (iii) is
permitted only with the consent of another party to such contract, if such
consent has not been obtained; (c) in any lease, license, contract, property
rights or agreement to which any Grantor is a party or any of its rights or
interests thereunder if the grant of such security interest shall constitute or
result in (i) the abandonment, invalidation or unenforceability of any right,
title or interest of any Grantor therein or (ii) in a breach or termination
pursuant to the terms of, or a default under, any such lease, license, contract,
property rights or agreement; in each case of clauses (a), (b) and (c), other
than to the extent that any such term would be rendered ineffective pursuant to
Sections 9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor provision or
provisions) of any relevant jurisdiction or any other applicable law (including
the Bankruptcy Code) or principles of equity, provided, however that such
security interest shall attach, immediately at such time as and to the extent
severable, to any portion of such Intellectual Property, General Intangible,
lease, license, contract, property rights or agreement that does not result or
no longer results in any of the consequences specified in (a)(i), (ii) or (iii),
(b)(i), (ii) or (iii) or (c)(i) or (ii) above; (d) in the capital stock of
Autocam France, Sarl; or (e) in any of the outstanding capital stock of a
Controlled Foreign Corporation representing in excess of 65% of the voting power
of all classes of capital stock of such Controlled Foreign Corporation entitled
to vote; provided that immediately upon the amendment of the Tax Code to allow
the pledge of capital stock representing a greater percentage of the voting
power of capital stock in a Controlled Foreign Corporation without adverse tax
consequences, the Collateral shall include, and the security interest granted by
each Grantor shall attach to, such greater percentage of capital stock of each
Controlled Foreign Corporation.

SECTION 3. SECURITY FOR OBLIGATIONS; GRANTORS REMAIN LIABLE.

     3.1 SECURITY FOR OBLIGATIONS. This Agreement secures, and the Collateral is
collateral security for, the prompt and complete payment or performance in full
when due, whether at stated maturity, by required prepayment, declaration,
acceleration, demand or otherwise (including the payment of amounts that would
become due but for the operation of the automatic stay under Section 362(a) of
the Bankruptcy Code, 11 U.S.C. Section 362(a) (and any successor provision
thereof)), of all Obligations with respect to every Grantor (the "SECURED
OBLIGATIONS").

     3.2 GRANTORS REMAIN LIABLE. Anything contained herein to the contrary
notwithstanding, but subject to the transfer of Pledged Equity Interests to the
Collateral Agent or its nominee upon foreclosure after an Event of Default:

          (a) each Grantor shall remain liable under any partnership agreement
or limited liability company agreement relating to any Pledged Partnership
Interest or Pledged LLC Interest, any Assigned Agreement and/or any other
contracts and agreements included in the Collateral, to the extent set forth
therein, to perform all of its duties and obligations thereunder to the same
extent as if this Agreement had not been executed;

          (b) the exercise by the Collateral Agent of any of its rights
hereunder shall not release any Grantor from any of its duties or obligations
under the contracts and agreements included in the Collateral; and

          (c) neither the Collateral Agent nor any Lender nor Lender
Counterparty shall have any obligation or liability under any partnership
agreement or limited liability company agreement relating to any Pledged
Partnership Interests or Pledged LLC Interests, any Assigned Agreement or any
other contracts and agreements included in the Collateral by reason of this
Agreement, nor shall the Collateral Agent, any Lender or any

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Lender Counterparty be obligated to perform any of the obligations or duties of
any Grantor thereunder or to take any action to collect or enforce any claim for
payment assigned hereunder.

     Neither the Collateral Agent, any Lender, any Lender Counterparty nor any
purchaser at a foreclosure sale under this Agreement shall be obligated to
assume any obligation or liability under any partnership agreement or limited
liability company agreement relating to any Pledged Partnership Interests or
Pledged LLC Interests, any Assigned Agreement or any other contracts and
agreements included in the Collateral unless the Collateral Agent, any Lender,
any Lender Counterparty or any such purchaser otherwise expressly agrees in
writing to assume any or all of said obligations.

SECTION 4. REPRESENTATIONS AND WARRANTIES AND COVENANTS.

     4.1 GENERALLY.

          (a) Representations and Warranties. Each Grantor hereby represents and
warrants on the Closing Date that:

               (i) it owns the Collateral purported to be owned by it or
     otherwise has the rights it purports to have in each item of Collateral
     and, as to all Collateral whether now existing or hereafter acquired, will
     continue to own or have such rights in each item of the Collateral, in each
     case free and clear of any and all Liens, rights or claims of all other
     Persons, including, without limitation, liens arising as a result of such
     Grantor becoming bound (as a result of merger or otherwise) as debtor under
     a security agreement entered into by another Person other than Permitted
     Liens;

               (ii) it has indicated on Schedule 4.1(A) (as such schedule may be
     amended or supplemented from time to time): (w) the type of organization of
     such Grantor, (x) the jurisdiction of organization of such Grantor, (y) its
     Federal Taxpayer Identification Number and (z) the jurisdiction of the
     chief executive office or its sole place of business.

               (iii) the full legal name of such Grantor is as set forth on
     Schedule 4.1(A) and it has not done in the last five (5) years, and does
     not do, business under any other name (including any trade-name or
     fictitious business name) except for those names set forth on Schedule
     4.1(B) (as such schedule may be amended or supplemented from time to time);

               (iv) except as provided on Schedule 4.1(C), it has not changed
     its name, jurisdiction of organization, chief executive office or sole
     place of business or its corporate structure in any way (e.g., by merger,
     consolidation, change in corporate form or otherwise) within the past five
     (5) years;

               (v) it has not within the last five (5) years become bound
     (whether as a result of merger or otherwise) as debtor under a security
     agreement entered into by another Person, which has not heretofore been
     terminated other than the agreements identified on Schedule 4.1(D) hereof
     (as such schedule may be amended or supplemented from time to time);

               (vi) with respect to each agreement identified on Schedule
     4.1(D), it has indicated on Schedule 4.1(A) and Schedule 4.1(B) the
     information required pursuant to Section 4.1(a)(ii), (iii) and (iv) with
     respect to the debtor under each such agreement;

               (vii) (u) upon the filing of all UCC financing statements naming
     each Grantor as "debtor" and the Collateral Agent as "secured party" and
     describing the Collateral in the filing offices set forth opposite such
     Grantor's name on Schedule 4.1(E) hereof (as such schedule may be amended
     or supplemented from time to time) and other filings delivered by each
     Grantor, (v) upon delivery of all Instruments, Chattel Paper and
     certificated Pledged Equity Interests and Pledged Debt to either the
     Collateral Agent or the First Lien Collateral Agent acting as agent/bailee
     for the Collateral Agent pursuant to the terms of the Intercreditor
     Agreement, (w) upon sufficient identification of Commercial Tort Claims,
     (x) upon execution of a control agreement establishing the Collateral
     Agent's "control" (within the

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     meaning of Section 9-104 or 9-106 of the UCC, as applicable) with respect
     to any Investment Account, (y) upon consent of the issuer with respect to
     Letter of Credit Rights, and (z) in the case of the Intellectual Property,
     in addition to the filing of such UCC financing statements, the recordation
     of a Grant with the applicable intellectual property registries, including
     but not limited to the United States Patent and Trademark Office and the
     United States Copyright Office, the security interests granted to the
     Collateral Agent hereunder constitute valid and perfected Second Priority
     Liens on all of the Collateral;

               (viii) all actions and consents, including all filings, notices,
     registrations and recordings necessary for the exercise by the Collateral
     Agent of the voting or other rights provided for in this Agreement or the
     exercise of remedies in respect of the Collateral have been made or
     obtained, except such action or consents which if not made or obtained
     could not reasonably be expected to result in a Material Impairment;

               (ix) other than the financing statements filed in favor of the
     Collateral Agent, no effective UCC financing statement, fixture filing or
     other instrument similar in effect under any applicable law covering all or
     any part of the Collateral is on file in any filing or recording office
     except for (x) financing statements for which proper termination statements
     have been delivered to the Collateral Agent for filing or for which pay-off
     and Lien release letters containing authority to file such termination
     statements have been delivered to the Collateral Agent and (y) financing
     statements filed in connection with Permitted Liens;

               (x) no authorization, approval or other action by, and no notice
     to or filing with, any Governmental Authority or regulatory body is
     required for either (i) the pledge or grant by any Grantor of the Liens
     purported to be created in favor of the Collateral Agent hereunder or (ii)
     the exercise by Collateral Agent of any rights or remedies in respect of
     any Collateral (whether specifically granted or created hereunder or
     created or provided for by applicable law), except (A) for the filings
     contemplated by clause (vii) above, (B) which if not made or obtained could
     not reasonably be expected to result in a Material Impairment, and (C) as
     may be required, in connection with the disposition of any Investment
     Related Property, by laws generally affecting the offering and sale of
     Securities; and

               (xi) except as could not reasonably be expected to result in a
     Material Impairment, all information supplied by any Grantor with respect
     to any of the Collateral (in each case taken as a whole with respect to any
     particular Collateral) is accurate and complete in all material respects.

          (b) Covenants and Agreements. Each Grantor hereby covenants and agrees
that until the payment in full of all Secured Obligations:

               (i) except for the security interest created by this Agreement,
     it shall not create or suffer to exist any Lien upon or with respect to any
     of the Collateral, except Permitted Liens, and such Grantor shall defend
     the Collateral against all Persons at any time claiming any interest
     therein;

               (ii) it shall not produce, use or permit any Collateral to be
     used (a) in violation of any provision of this Agreement or (b) except as
     could not reasonably be expected to result in a Material Impairment,
     unlawfully or in violation of any applicable statute, regulation or
     ordinance or any policy of insurance covering the Collateral;

               (iii) it shall not change its name, type of organization,
     jurisdiction of organization, Federal Taxpayer Identification Number or
     corporate structure in any way (e.g., by merger, consolidation, change in
     corporate form or otherwise) unless it shall (a) promptly after such change
     or establishment notify the Collateral Agent in writing, by executing and
     delivering to the Collateral Agent a completed Pledge Supplement, together
     with all Supplements to Schedules thereto, of any such change or
     establishment, identifying such new proposed name, jurisdiction of
     organization, Federal Taxpayer Identification Number or corporate structure
     and providing the Collateral Agreement certified copies of any relevant
     filings and such other information in connection therewith as the
     Collateral Agent may reasonably request and (b) take all actions necessary
     or advisable, in the reasonable judgment of Collateral Agent, to

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<PAGE>

     maintain the continuous validity, perfection and the same or better
     priority of the Collateral Agent's security interest in the Collateral
     intended to be granted and agreed to hereby;

               (iv) to the extent required by the Credit Agreement, it shall pay
     promptly when due all property and other taxes, assessments and
     governmental charges or levies imposed upon, and all claims (including
     claims for labor, materials and supplies) against, the Collateral, except
     to the extent the validity thereof is being contested in good faith;
     provided, such Grantor shall in any event pay such taxes, assessments,
     charges, levies or claims not later than five (5) days prior to the date of
     any proposed sale under any judgment, writ or warrant of attachment entered
     or filed against such Grantor or any of the Collateral as a result of the
     failure to make such payment;

               (v) [intentionally deleted];

               (vi) it shall not take or permit any action which could
     materially impair the Collateral Agent's rights in the Collateral;

               (vii) it shall not sell, transfer or assign (by operation of law
     or otherwise) any Collateral except as otherwise in accordance with the
     Credit Agreement; and

               (viii) in the event any Person becomes its Domestic Subsidiary,
     such Grantor shall (a) promptly cause such Domestic Subsidiary to become an
     Additional Grantor pursuant to Section 5.3, (b) promptly take all actions
     necessary to grant and to perfect (with respect to Intellectual Property to
     the extent such perfection and priority may be achieved by filings made in
     the United States) a Second Priority security interest in the Collateral
     consisting of personal property of such Domestic Subsidiary in favor of
     Collateral Agent for the benefit of the Secured Parties in respect of such
     Collateral in accordance with this Agreement, and (c) subject to the
     provisions of the Intercreditor Agreement, promptly cause each Person
     holding Capital Stock of such Domestic Subsidiary to take all actions
     necessary to grant and to perfect a Second Priority security interest in
     favor of Collateral Agent for the benefit of the Secured Parties in respect
     of all such Capital Stock.

     4.2 Equipment and Inventory.

          (a) Representations and Warranties. Each Grantor represents and
warrants on the Closing Date that:

               (i) all of the Equipment and Inventory included in the Collateral
     is located only at the locations specified in Schedule 4.2 (as such
     schedule may be amended or supplemented from time to time), except for (A)
     Inventory which, in the ordinary course of business, (i) is in transit
     from, or has been purchased by a Grantor and not yet shipped by, a supplier
     to a Grantor, (ii) is in transit to, or has been delivered to but not yet
     paid for by, a customer or (iii) which has been delivered by a Grantor to a
     subcontractor for secondary processing and (B) other mobile goods,
     Equipment or Inventory with an aggregate net book value of up to
     $2,000,000;

               (ii) except as could not reasonably be expected to result in a
     Material Impairment, any Goods now or hereafter produced by any Grantor
     included in the Collateral have been and will be produced in compliance
     with the requirements of the Fair Labor Standards Act, as amended; and

               (iii) except as set forth on Schedule 4.2(A) (as such schedule
     may be amended or supplemented from time to time), none of the Inventory or
     Equipment (except for mobile goods, Equipment or Inventory with an
     aggregate net book value of up to $1,000,000) is in the possession of an
     issuer of a negotiable document (as defined in Section 7-104 of the UCC)
     therefor or otherwise in the possession of a bailee or a warehouseman.

          (b) Covenants and Agreements. Each Grantor covenants and agrees that
until the payment in full of all Secured Obligations:

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<PAGE>

               (i) it shall keep correct and accurate records of the Inventory,
     as is customarily maintained under similar circumstances by Persons of
     established reputation engaged in similar business, and in any event in
     conformity with GAAP;

               (ii) it shall not deliver any Document evidencing any Equipment
     and Inventory to any Person other than the issuer of such Document to claim
     the Goods evidenced therefor, the Collateral Agent, or the First Lien
     Collateral Agent;

               (iii) if any Equipment or Inventory is in possession or control
     of any third party (other than a supplier, customer or subcontractor in the
     ordinary course of business as described in Section 4.2(a)(i), above),
     each Grantor shall, as a condition to entering into any such arrangement in
     respect of Equipment or Inventory in an aggregate net book value exceeding
     $2,000,000 at any time and otherwise upon request of the Collateral Agent,
     join with the Collateral Agent in notifying the third party of the
     Collateral Agent's security interest and using commercially reasonable
     efforts to obtain an acknowledgment from the third party that it is holding
     the Equipment and Inventory for the benefit of the Collateral Agent;

               (iv) At any time when an Event of Default has occurred and is
     continuing, subject to the Intercreditor Agreement upon written request of
     Collateral Agent, each Grantor shall instruct each subcontractor then
     holding Inventory for processing to hold such Inventory for the account of
     Collateral Agent and subject to the instructions of the Collateral Agent;

               (v) with respect to any Equipment with net book value in excess
     of $100,000 individually or $1,000,000 in the aggregate which is covered by
     a certificate of title under a statute of any jurisdiction under the law of
     which indication of a security interest on such certificate is required as
     a condition of perfection thereof, upon the reasonable request of the
     Collateral Agent, (A) it shall provide the Collateral Agent information
     with respect to any such Equipment, (B) it shall execute and file with the
     registrar of motor vehicles or other appropriate authority in such
     jurisdiction an application or other document requesting the notation or
     other indication of the security interest created hereunder on such
     certificate of title, and (C) it shall deliver to the Collateral Agent
     copies of all such applications or other documents filed during such
     calendar quarter and copies of all such certificates of title issued during
     such calendar quarter indicating the security interest created hereunder in
     the items of Equipment covered thereby.

     4.3 Receivables.

          (a) Representations and Warranties. Each Grantor represents and
warrants on the Closing Date that: no Receivable in excess of $100,000
individually or $500,000 in the aggregate is evidenced by, or constitutes, an
Instrument or Chattel Paper which has not been delivered to, or otherwise
subjected to the control of, the Collateral Agent to the extent required by, and
in accordance with Section 4.3(c);

          (b) Covenants and Agreements: Each Grantor hereby covenants and agrees
that until the payment in full of all Secured Obligations:

               (i) it shall keep and maintain at its own cost and expense
     satisfactory and complete records of the Receivables as is customarily
     maintained under similar circumstances by Persons of established reputation
     engaged in similar business, and in any event in conformity with GAAP
     including, but not limited to, the originals of all documentation with
     respect to all such Receivables and records of all payments received and
     all credits granted on such Receivables, all merchandise returned and all
     other dealings therewith;

               (ii) it shall not amend, modify, terminate or waive any provision
     of any Receivable in any manner that could reasonably be expected to have a
     Material Adverse Effect. Other than in the ordinary course of business as
     generally conducted by it, and except as otherwise provided in subsection
     (v) below, during the continuance of an Event of Default, such Grantor
     shall not (w) grant any

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<PAGE>

     extension or renewal of the time of payment of any Receivable, (x)
     compromise or settle any dispute, claim or legal proceeding with respect to
     any Receivable for less than the total unpaid balance thereof, (y) release,
     wholly or partially, any Person liable for the payment thereof, or (z)
     allow any credit or discount thereon;

               (iii) except as otherwise provided in this subsection, each
     Grantor shall continue to collect all amounts due or to become due to such
     Grantor under the Receivables and any Supporting Obligation and diligently
     exercise each material right it may have under any Receivable, any
     Supporting Obligation or Collateral Support, in each case, at its own
     expense, and in connection with such collections and exercise, such Grantor
     shall take such action as such Grantor or after the occurrence and during
     the continuance of an Event of Default, subject to the provisions of the
     Intercreditor Agreement, the Collateral Agent, may deem necessary or
     advisable. Notwithstanding the foregoing, subject to the provisions of the
     Intercreditor Agreement, the Collateral Agent shall have the right at any
     time following the occurrence and during the continuation of an Event of
     Default to notify, or require any Grantor to notify, any Account Debtor of
     the Collateral Agent's security interest in the Receivables and any
     Supporting Obligation and, in addition, at any time following the
     occurrence and during the continuation of an Event of Default, subject to
     the Intercreditor Agreement, the Collateral Agent may: (1) direct the
     Account Debtors under any Receivables to make payment of all amounts due or
     to become due to such Grantor thereunder directly to the Collateral Agent;
     (2) notify, or require any Grantor to notify, each Person maintaining a
     lockbox or similar arrangement to which Account Debtors under any
     Receivables have been directed to make payment to remit all amounts
     representing collections on checks and other payment items from time to
     time sent to or deposited in such lockbox or other arrangement directly to
     the Collateral Agent; and (3) enforce, at the expense of such Grantor,
     collection of any such Receivables and to adjust, settle or compromise the
     amount or payment thereof, in the same manner and to the same extent as
     such Grantor might have done. If the Collateral Agent notifies any Grantor
     that it has elected to collect the Receivables in accordance with the
     preceding sentence, any payments of Receivables received by such Grantor
     shall be forthwith (and in any event within two (2) Business Days)
     deposited by such Grantor in the exact form received, duly indorsed by such
     Grantor to the Collateral Agent if required, in a Securities Account or
     Deposit Account maintained under the sole dominion and control of the
     Collateral Agent, and until so turned over, all amounts and proceeds
     (including checks and other instruments) received by such Grantor in
     respect of the Receivables, any Supporting Obligation or Collateral Support
     shall be received in trust for the benefit of the Collateral Agent
     hereunder and shall be segregated from other funds of such Grantor and such
     Grantor shall not adjust, settle or compromise the amount or payment of any
     Receivable, or release wholly or partly any Account Debtor or obligor
     thereof, or allow any credit or discount thereon; and

               (iv) it shall use commercially reasonable efforts to keep in full
     force and effect any Supporting Obligation or Collateral Support relating
     to any Receivable.

          (c) Delivery and Control of Receivables. Subject to the provisions of
the Intercreditor Agreement, with respect to any Receivables in excess of
$100,000 individually or $500,000 in the aggregate that is evidenced by, or
constitutes, Chattel Paper or Instruments, each Grantor shall cause each
originally executed copy thereof to be delivered to the Collateral Agent (or its
agent or designee) appropriately indorsed to the Collateral Agent or indorsed in
blank: (i) with respect to any such Receivables in existence on the date hereof,
on or prior to the date hereof and (ii) with respect to any such Receivables
hereafter arising, within ten (10) days of such Grantor acquiring rights
therein. Subject to the provisions of the Intercreditor Agreement, with respect
to any Receivables in excess of $100,000 individually or $500,000 in the
aggregate which would constitute "electronic chattel paper" under Article 9 of
the UCC, each Grantor shall use commercially reasonable efforts to give the
Collateral Agent control over such Receivables (within the meaning of Section
9-105 of the UCC): (i) with respect to any such Receivables in existence on the
date hereof, on or prior to the date hereof and (ii) with respect to any such
Receivables hereafter arising, within ten (10) days of such Grantor acquiring
rights therein. Subject to the provisions of the Intercreditor Agreement, any
Receivable that is evidenced by, or constitutes, Chattel Paper or Instruments or
would constitute "electronic chattel paper" under Article 9 of the UCC not
otherwise required to be delivered or subjected to the control of the Collateral
Agent in accordance with this subsection (c) shall be delivered or subjected to
such control upon request of the Collateral Agent at any time during the
continuance of an Event of Default.

     4.4 Investment Related Property.

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          4.4.1 INVESTMENT RELATED PROPERTY GENERALLY

          (a) Covenants and Agreements. Each Grantor hereby covenants and agrees
that until the payment in full of all Secured Obligations:

               (i) subject to the limitation described in Section 2.2(d) with
     respect to the capital stock of any Controlled Foreign Corporation, in the
     event it acquires rights in any Investment Related Property constituting
     Pledged Equity Interests or Pledged Debt or otherwise with an aggregate net
     book value in excess of $500,000 after the date hereof, it shall deliver to
     the Collateral Agent a completed Pledge Supplement, together with all
     Supplements to Schedules thereto, reflecting such new Investment Related
     Property and all other Investment Related Property. Notwithstanding the
     foregoing, it is understood and agreed that the security interest of the
     Collateral Agent shall attach to all Investment Related Property
     immediately upon any Grantor's acquisition of rights therein and shall not
     be affected by the failure of any Grantor to deliver a supplement to
     Schedule 4.4 as required hereby;

               (ii) except as provided in the next sentence, in the event such
     Grantor receives any dividends, interest or distributions on any Investment
     Related Property, or any securities or other property upon the merger,
     consolidation, liquidation or dissolution of any issuer of any Investment
     Related Property, then (a) such dividends, interest or distributions and
     securities or other property shall be included in the definition of
     Collateral without further action and (b) such Grantor shall within ten
     (10) days take all steps, if any, necessary or advisable to ensure the
     validity, perfection, priority and, if applicable, control of the
     Collateral Agent over such Investment Related Property (including, without
     limitation, delivery thereof to the Collateral Agent) and pending any such
     action such Grantor shall be deemed to hold such dividends, interest,
     distributions, securities or other property in trust for the benefit of the
     Collateral Agent and shall be segregated from all other property of such
     Grantor. Notwithstanding the foregoing, so long as no Event of Default
     shall have occurred and be continuing or shall be caused thereby, the
     Collateral Agent authorizes each Grantor to retain all cash dividends and
     distributions and all payments of interest and principal;

               (iii) each Grantor consents to the grant by each other Grantor of
     a security interest in all Investment Related Property to the Collateral
     Agent.

          (b) Delivery and Control.

               (i) Each Grantor agrees that with respect to any Investment
     Related Property in which it currently has rights it shall comply with the
     provisions of this Section 4.4.1(b) on or before the Closing Date and with
     respect to any Investment Related Property hereafter acquired by such
     Grantor it shall comply with the provisions of this Section 4.4.1(b)
     promptly upon acquiring rights therein, in each case in form and substance
     reasonably satisfactory to the Collateral Agent. Subject to the provisions
     of the Intercreditor Agreement, with respect to any Investment Related
     Property that is represented by a certificate or that is an "instrument"
     (other than any Investment Related Property credited to a Securities
     Account) it shall cause such certificate or instrument to be delivered to
     the Collateral Agent, indorsed in blank by an "effective indorsement" (as
     defined in Section 8-107 of the UCC), regardless of whether such
     certificate constitutes a "certificated security" for purposes of the UCC.
     Subject to the provisions of the Intercreditor Agreement, with respect to
     any Investment Related Property that is an "uncertificated security" for
     purposes of the UCC (other than any "uncertificated securities" credited to
     a Securities Account), it shall use commercially reasonable efforts to
     cause the issuer of such uncertificated security to either (i) register the
     Collateral Agent as the registered owner thereof on the books and records
     of the issuer or (ii) execute an Uncertificated Securities Control
     Agreement, pursuant to which such issuer agrees to comply with the
     Collateral Agent's instructions with respect to such uncertificated
     security without further consent by such Grantor.

          (c) Voting and Distributions.

               (i) So long as no Event of Default shall have occurred and be
     continuing, except as otherwise provided under the covenants and agreements
     relating to investment related property in this Agreement or elsewhere
     herein or in the Credit Agreement, each Grantor shall be entitled to
     exercise or

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<PAGE>

     refrain from exercising any and all voting and other consensual rights
     pertaining to the Investment Related Property or any part thereof,
     provided, no Grantor shall exercise or refrain from exercising any such
     right (1) if the Collateral Agent shall have notified such Grantor that, in
     the Collateral Agent's reasonable judgment, such action would have a
     Material Adverse Effect; or (2) for any purpose inconsistent with the terms
     of this Agreement or the Credit Agreement;

               (ii) the Collateral Agent shall promptly execute and deliver (or
     cause to be executed and delivered) to each Grantor all proxies, and other
     instruments as such Grantor may from time to time reasonably request for
     the purpose of enabling such Grantor to exercise the voting and other
     consensual rights when and to the extent which it is entitled to exercise
     pursuant to clause (ii) above; and

               (iii) Subject to the provisions of the Intercreditor Agreement,
     upon the occurrence and during the continuation of an Event of Default:

          (A)  all rights of each Grantor to exercise or refrain from exercising
               the voting and other consensual rights which it would otherwise
               be entitled to exercise pursuant hereto shall cease and all such
               rights shall thereupon become vested in the Collateral Agent who
               shall thereupon have the sole right but not the obligation to
               exercise such voting and other consensual rights; and

          (B)  in order to permit the Collateral Agent to exercise the voting
               and other consensual rights which it may be entitled to exercise
               pursuant hereto and to receive all dividends and other
               distributions which it may be entitled to receive hereunder: (1)
               each Grantor shall promptly execute and deliver (or cause to be
               executed and delivered) to the Collateral Agent all proxies,
               dividend payment orders and other instruments as the Collateral
               Agent may from time to time reasonably request and (2) each
               Grantor acknowledges that the Collateral Agent may utilize the
               power of attorney set forth in Section 6.1.

          4.4.2 PLEDGED EQUITY INTERESTS

          (a) Representations and Warranties. Each Grantor hereby represents and
warrants on the Closing Date that:

               (i) Schedule 4.4(A) (as such schedule may be amended or
     supplemented from time to time) sets forth under the headings "Pledged
     Stock, "Pledged LLC Interests," "Pledged Partnership Interests" and
     "Pledged Trust Interests," respectively, all of the Pledged Stock, Pledged
     LLC Interests, Pledged Partnership Interests and Pledged Trust Interests
     owned by any Grantor and such Pledged Equity Interests constitute the
     percentage of issued and outstanding shares of stock, percentage of
     membership interests, percentage of partnership interests or percentage of
     beneficial interest of the respective issuers thereof indicated on such
     Schedule;

               (ii) except as set forth on Schedule 4.4(B), it has not acquired
     any equity interests of another entity or substantially all the assets of
     another entity within the past five (5) years;

               (iii) it is the record and beneficial owner of the Pledged Equity
     Interests free of all Liens, rights or claims of other Persons other than
     Permitted Liens and except as described in Schedule 4.4(A), there are no
     outstanding warrants, options or other rights to purchase, or shareholder,
     voting trust or similar agreements outstanding with respect to, or property
     that is convertible into, or that requires the issuance or sale of, any
     Pledged Equity Interests;

               (iv) without limiting the generality of Section 4.1(a)(v), except
     as described in Schedule 4.4(A), no consent of any Person including any
     other general or limited partner, any other member of a limited liability
     company, any other shareholder or any other trust beneficiary is necessary
     or desirable in connection with the creation, perfection or second priority
     status of the security interest of the Collateral Agent in any Pledged
     Equity Interests or the exercise by the Collateral Agent of the voting or
     other rights provided for in this Agreement or the exercise of remedies in
     respect thereof;

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               (v) except as described in Schedule 4.4(A), none of the Pledged
     LLC Interests nor Pledged Partnership Interests are or represent interests
     in issuers that: (a) are registered as investment companies or (b) are
     dealt in or traded on securities exchanges or markets; and

               (vi) except as described in Schedule 4.4(A), none of the Pledged
     LLC Interests and Pledged Partnership Interests are or represent interests
     in issuers that have opted to be treated as securities under the uniform
     commercial code of any jurisdiction.

          (b) Covenants and Agreements. Each Grantor hereby covenants and agrees
that until the payment in full of the Secured Obligations:

               (i) without the prior written consent of the Collateral Agent, it
     shall not vote to enable or take any other action to: (a) other than as
     permitted under the Credit Agreement, permit any issuer of any Pledged
     Equity Interest to issue any additional stock, partnership interests,
     limited liability company interests or other equity interests of any nature
     or to issue securities convertible into or granting the right of purchase
     or exchange for any stock or other equity interest of any nature of such
     issuer, (b) other than as permitted under the Credit Agreement, permit any
     issuer of any Pledged Equity Interest to dispose of all or a material
     portion of their assets, (c) waive any default under or breach of any
     material terms of any organizational document relating to the issuer of any
     Pledged Equity Interest or the terms of any Pledged Debt, or (d) cause any
     issuer of any Pledged Partnership Interests or Pledged LLC Interests which
     are not securities (for purposes of the UCC) on the date hereof to elect or
     otherwise take any action to cause such Pledged Partnership Interests or
     Pledged LLC Interests to be treated as securities for purposes of the UCC
     unless such Grantor shall promptly notify the Collateral Agent in writing
     of any such election or action and, in such event, shall take all steps
     necessary or advisable to establish the Collateral Agent's "control"
     thereof;

               (ii) [intentionally deleted];

               (iii) without the prior written consent of the Collateral Agent
     or as permitted under the Credit Agreement, it shall not permit any issuer
     of any Pledged Equity Interest to merge or consolidate unless (i) such
     issuer creates a security interest that is perfected by a filed financing
     statement (that is not effective solely under section 9-508 of the UCC) in
     collateral in which such new debtor has or acquires rights, and (ii) all
     the outstanding capital stock or other equity interests of the surviving or
     resulting corporation, limited liability company, partnership or other
     entity is, upon such merger or consolidation, pledged hereunder; provided
     that if the surviving or resulting Grantors upon any such merger or
     consolidation involving an issuer which is a Controlled Foreign
     Corporation, then such Grantor shall only be required to pledge equity
     interests in accordance with Section 2.2; and

               (iv) each Grantor consents to the grant by each other Grantor of
     a security interest in all Investment Related Property to the Collateral
     Agent and, without limiting the foregoing, consents to the transfer of any
     Pledged Partnership Interest and any Pledged LLC Interest to the Collateral
     Agent or its nominee following an Event of Default and to the substitution
     of the Collateral Agent or its nominee as a partner in any partnership or
     as a member in any limited liability company with all the rights and powers
     related thereto.

          4.4.3 PLEDGED DEBT

          (a) Representations and Warranties. Each Grantor hereby represents and
warrants on the Closing Date that Schedule 4.4 (as such schedule may be amended
or supplemented from time to time) sets forth under the heading "Pledged Debt"
all of the Pledged Debt that constitutes Intercompany Indebtedness and otherwise
is in excess of $500,000 individually or $1,000,000 in the aggregate owned by
such Grantor and all of such Pledged Debt has been duly authorized,
authenticated or issued, and delivered and is the legal, valid and binding
obligation of the issuers thereof subject to the effect of applicable
bankruptcy, insolvency, reorganization, moratorium and other similar laws
affecting rights of creditors and general principles of equity and is not in
default and constitutes all of the issued and outstanding Intercompany
Indebtedness owned by such Grantor.

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<PAGE>

          (b) Covenants and Agreements. Each Grantor hereby covenants and agrees
that until the payment in full of all Secured Obligations it shall notify the
Collateral Agent of any default under any Pledged Debt that has caused, either
in any individual case or in the aggregate, a Material Adverse Effect.

          4.4.4 INVESTMENT ACCOUNTS

          (a) Representations and Warranties. Each Grantor hereby represents and
warrants on the Closing Date that:

               (i) Schedule 4.4 hereto (as such schedule may be amended or
     supplemented from time to time) sets forth under the headings "Securities
     Accounts" and "Commodities Accounts," respectively, all of the Securities
     Accounts and Commodities Accounts in which each Grantor has an interest.
     Each Grantor is the sole entitlement holder of each such Securities Account
     and Commodity Account, and such Grantor has not consented to, and is not
     otherwise aware of, any Person (other than the Collateral Agent pursuant
     hereto or First Lien Collateral Agent) having "control" (within the
     meanings of Sections 8-106 and 9-106 of the UCC) over, or any other
     interest in, any such Securities Account or Commodity Account or securities
     or other property credited thereto, except to the extent such control would
     constitute a Permitted Lien;

               (ii) Schedule 4.4 hereto (as such schedule may be amended or
     supplemented from time to time) sets forth under the headings "Deposit
     Accounts" all of the Deposit Accounts in which each Grantor has an
     interest. Each Grantor is the sole account holder of each such Deposit
     Account and such Grantor has not consented to, and is not otherwise aware
     of, any Person (other than the Collateral Agent pursuant hereto and the
     First Lien Collateral Agent) having either sole dominion and control
     (within the meaning of common law) or "control" (within the meanings of
     Section 9-104 of the UCC) over, or any other interest in, any such Deposit
     Account or any money or other property deposited therein, except to the
     extent such control would constitute a Permitted Lien; and

               (iii) Each Grantor has taken all actions necessary or desirable,
     including those specified in Section 4.4.4(c), to: (a) establish the
     Collateral Agent's "control" (within the meanings of Sections 8-106 and
     9-106 of the UCC) over any portion of the Investment Related Property
     constituting Securities Accounts, Securities Entitlements or Commodities
     Accounts (each as defined in the UCC); and (b) to establish the Collateral
     Agent's "control" (within the meaning of Section 9-104 of the UCC) over all
     Deposit Accounts.

          (b) Covenant and Agreement. Each Grantor hereby covenants and agrees
with the Collateral Agent and each other Secured Party that until the payment in
full of all Secured Obligations it shall not close or terminate any Investment
Account without the prior consent of the Collateral Agent and unless a successor
or replacement account has been established with the consent of the Collateral
Agent with respect to which successor or replacement account a control agreement
has been entered into by the appropriate Grantor, Collateral Agent and
securities intermediary or depository institution at which such successor or
replacement account is to be maintained in accordance with the provisions of
Section 4.4.4(c).

          (c) Delivery and Control

               (i) With respect to any Investment Related Property consisting of
     Securities Accounts or Securities Entitlements, it shall cause the
     securities intermediary maintaining such Securities Account or Securities
     Entitlement to enter into a Securities Account Control Agreement pursuant
     to which it shall agree to comply with the Collateral Agent's "entitlement
     orders" without further consent by such Grantor. With respect to any
     Investment Related Property that is a "Deposit Account," it shall cause the
     depositary institution maintaining such account to enter into a Deposit
     Account Control Agreement, pursuant to which the Collateral Agent shall
     have both sole dominion and control over such Deposit Account (within the
     meaning of the common law) and "control" (within the meaning of Section
     9-104 of the UCC) over such Deposit Account. Each Grantor shall have
     entered into such control agreement or agreements with respect to: (i) any
     Securities Accounts, Securities Entitlements or Deposit Accounts that exist
     on the Closing Date, as of or prior to the Closing Date and (ii) any
     Securities Accounts, Securities

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<PAGE>

     Entitlements or Deposit Accounts that are created or acquired after the
     Closing Date, as of or prior to the deposit or transfer of any such
     Securities Entitlements or funds, whether constituting moneys or
     investments, into such Securities Accounts or Deposit Accounts.

               (ii) In addition to the foregoing, if any issuer of any
     Investment Related Property is located in a jurisdiction outside of the
     United States, each Grantor shall take such additional actions, including,
     without limitation, using commercially reasonable efforts to cause the
     issuer to register the pledge on its books and records or making such
     filings or recordings, in each case as may be necessary or advisable, under
     the laws of such issuer's jurisdiction to insure the validity, perfection
     and priority of the security interest of the Collateral Agent. Subject to
     the provisions of the Intercreditor Agreement, upon the occurrence and
     during the continuance of an Event of Default, the Collateral Agent shall
     have the right, without notice to any Grantor, to transfer all or any
     portion of the Investment Related Property to its name or the name of its
     nominee or agent. In addition, subject to the provisions of the
     Intercreditor Agreement, the Collateral Agent shall have the right at any
     time during the continuance of an Event of Default, without notice to any
     Grantor, to exchange any certificates or instruments representing any
     Investment Related Property for certificates or instruments of smaller or
     larger denominations.

     4.5 Material Contracts.

          (a) Covenants and Agreements. Each Grantor hereby covenants and agrees
that until the payment in full of the Secured Obligations:

               (i) after the occurrence and during the continuance of an Event
     of Default, the applicable Grantor shall furnish to the Collateral Agent
     true and complete copies (including any amendments or supplements thereof)
     of all Material Contracts to which it is a party; and

               (ii) subject to the provisions of the Intercreditor Agreement,
     after the occurrence and during the continuance of an Event of Default, the
     Collateral Agent may upon written notice to the applicable Grantor, notify,
     or require any Grantor to notify, the counterparty to make all payments
     under the Material Contracts directly to the Collateral Agent.

     4.6 LETTER OF CREDIT RIGHTS.

          (a) Representations and Warranties. Except with respect to letters of
credit issued under the First Lien Credit Agreement, each Grantor hereby
represents and warrants on the Closing Date that:

               (i) all material letters of credit to which such Grantor has
     rights as the beneficiary in an amount in excess of $100,000 are listed on
     Schedule 4.6 (as such schedule may be amended or supplemented from time to
     time) hereto; and

               (ii) it has used or will use commercially reasonable efforts to
     obtain the consent of each issuer of any material letter of credit to the
     assignment of the proceeds of the letter of credit to the Collateral Agent
     (subject to the provisions of the Intercreditor Agreement) and such Grantor
     has not consented to, and is not otherwise aware of, any Person (other than
     the Collateral Agent pursuant hereto and the First Lien Collateral Agent)
     having "control" (within the meaning of Section 9-107 of the UCC) over, or
     any other interest in any of the Grantor's rights in respect thereof.

          (b) Covenants and Agreements. Except with respect to letters of credit
issued under the First Lien Credit Agreement, each Grantor hereby covenants and
agrees that, until the payment in full of all Secured Obligations, with respect
to any material letter of credit referred to in (a)(i) above hereafter arising
it will use commercially reasonable efforts to obtain the consent of the issuer
thereof to the assignment of the proceeds of the letter of credit to the
Collateral Agent (subject to the provisions of the Intercreditor Agreement) and
shall deliver to the Collateral Agent a completed Pledge Supplement, together
with all Supplements to Schedules thereto.

     4.7 INTELLECTUAL PROPERTY.

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<PAGE>

          (a) Representations and Warranties. Except as disclosed in Schedule
4.7(H) (as such schedule may be amended or supplemented from time to time), each
Grantor hereby represents and warrants on the Closing Date that:

               (i) Schedule 4.7 (as such schedule may be amended or supplemented
     from time to time) sets forth a true and complete list of (i) all United
     States, state and foreign registrations of and applications for Patents,
     Trademarks, and Copyrights owned by each Grantor and material to the
     business of each Grantor and (ii) all Patent Licenses, Trademark Licenses
     and Copyright Licenses material to the business of each Grantor;

               (ii) it has executed and delivered to the Collateral Agent, the
     applicable Grants for all Copyrights, Patents and Trademarks owned by such
     Grantor, including, but not limited to, all Copyrights, Patents and
     Trademarks on Schedule 4.7 (as such schedule may be amended or supplemented
     from time to time);

               (iii) it is the sole and exclusive owner of the entire right,
     title, and interest in and to or has the valid right to use the
     Intellectual Property on Schedule 4.7 (as such schedule may be amended or
     supplemented from time to time) listed under its respective name, and owns
     all other Intellectual Property used in or necessary to conduct its
     business, as currently conducted except where the failure to own or right
     to use in the aggregate could not be reasonably expected to have a Material
     Adverse Effect;

               (iv) its Intellectual Property is subsisting and has not been
     adjudged invalid or unenforceable, in whole or in part, except as could not
     reasonably be expected to have a Material Adverse Effect, and each Grantor
     has performed all acts and has paid all renewal, maintenance, and other
     fees and taxes required to maintain each and every registration and
     application of Intellectual Property in full force and effect, except where
     the failure to do so could reasonably be expected to have a Material
     Adverse Effect;

               (v) its Intellectual Property is valid and enforceable in all
     material respects; no holding, decision, or judgment has been rendered in
     any action or proceeding before any court or administrative authority
     challenging the validity of, such Grantor's right to register, or such
     Grantor's rights to own or use, any Intellectual Property except as could
     not reasonably be expected to have a Material Adverse Effect and no such
     action or proceeding is pending or, to such Grantor's knowledge,
     threatened;

               (vi) the conduct of its business does not infringe upon any
     trademark, patent, copyright, trade secret or similar intellectual property
     right owned or controlled by a third party and no written claim has been
     made that the use of any material Intellectual Property owned or used by
     any Grantor (or any of its respective licensees) violates the asserted
     rights of any third party except, in each case, as could not reasonably be
     expected to have a Material Adverse Effect; and

               (vii) except for Permitted Liens or as otherwise permitted under
     the Credit Agreement, each Grantor has not made a previous assignment, sale
     or transfer constituting a present or future assignment, sale or transfer
     of any Intellectual Property for purposes of granting a security interest
     or as Collateral that has not been terminated or released. There is no
     effective financing statement or other document or instrument now executed,
     or on file or recorded in any public office, granting a security interest
     in or otherwise encumbering any part of the Intellectual Property, other
     than in favor of the Collateral Agent or Permitted Liens.

          (b) Covenants and Agreements. Each Grantor hereby covenants and agrees
as follows until the payment in full of the Secured Obligations:

               (i) it shall take all commercially reasonable steps in the United
     States Patent and Trademark Office, the United States Copyright Office, any
     state registry or any foreign counterpart of the foregoing, to pursue any
     application and maintain any registration of each Trademark, Patent, and

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<PAGE>

     Copyright owned by any Grantor, the maintenance of or registration of which
     is material to its business which is now or shall become included in the
     Intellectual Property including, but not limited to, those items on
     Schedule 4.7(A), (C) and (E) (as each may be amended or supplemented from
     time to time);

               (ii) it shall promptly (but, except in the case of (II) below, in
     no event more than thirty (30) days after any Grantor obtains knowledge
     thereof) report to the Collateral Agent (x) the filing of any application
     to register any Intellectual Property with the United States Patent and
     Trademark Office, the United States Copyright Office, or any state registry
     or foreign counterpart of the foregoing (whether such application is filed
     by such Grantor or through any agent, employee, licensee, or designee
     thereof) and (y) the registration of any Intellectual Property by any such
     office, in each case by executing and delivering to the Collateral Agent
     (I) a completed Pledge Supplement, together with all Supplements to
     Schedules thereto, and (II) upon the request of the Collateral Agent, an
     applicable Grant for recordation with respect thereto in the applicable
     intellectual property registries, including but not limited to the United
     States Patent and Trademark Office and the United States Copyright Office,
     provided, the failure of any Grantor to execute the Pledge Supplement or
     submit a Grant for recordation with respect to any additional Intellectual
     Property shall not impair the security interest of the Collateral Agent
     therein or otherwise adversely affect the rights and remedies of the
     Collateral Agent hereunder with respect thereto;

               (iii) except with the prior consent of the Collateral Agent or as
     permitted under the Credit Agreement, it shall not execute, and there will
     not be on file in any public office, any financing statement or other
     document or instruments, except financing statements or other documents or
     instruments filed or to be filed in favor of the Collateral Agent and it
     shall not sell, assign, transfer, license, grant any option, or create or
     suffer to exist any Lien upon or with respect to the Intellectual Property,
     except for Permitted Liens or as otherwise permitted under the Credit
     Agreement;

               (iv) it shall hereafter use commercially reasonable efforts so as
     not to permit the inclusion in any contract to which it hereafter becomes a
     party of any provision that could or might in any way materially impair or
     prevent the creation of a security interest in, or the assignment of, such
     Grantor's rights and interests in any property included within the
     definitions of any Intellectual Property acquired under such contracts;

               (v) it shall take all commercially reasonable steps to protect
     the secrecy of all Trade Secrets relating to the products and services sold
     or delivered under or in connection with the Intellectual Property,
     including entering into confidentiality agreements with employees and
     labeling and restricting access to secret information and documents, except
     to the extent that a Trade Secret is no longer material or necessary to the
     business of such Grantor;

               (vi) it shall continue to collect, at its own expense, all
     amounts due or to become due to such Grantor in respect of the Intellectual
     Property or any portion thereof. In connection with such collections, any
     Grantor may take (and, at the Collateral Agent's reasonable direction,
     shall take) such action as such Grantor or, subject to the Intercreditor
     Agreement, after the occurrence and during the continuance of an Event of
     Default, the Collateral Agent may deem reasonably necessary or advisable to
     enforce collection of such amounts. Notwithstanding the foregoing, the
     Collateral Agent shall have the right at any time after the occurrence and
     during the continuance of an Event of Default, to notify, or require any
     Grantor to notify, any obligors with respect to any such amounts of the
     existence of the security interest created hereby.

     4.8 COMMERCIAL TORT CLAIMS

          (a) Representations and Warranties. Each Grantor hereby represents and
warrants on the Closing Date that Schedule 4.8 (as such schedule may be amended
or supplemented from time to time) sets forth all Commercial Tort Claims in
excess of $250,000 individually or $1,000,000 in the aggregate of each Grantor;
and

          (b) Covenants and Agreements. Each Grantor hereby covenants and agrees
that until the payment in full of the Secured Obligations with respect to any
Commercial Tort Claim in excess of $250,000 individually or $1,000,000 in the
aggregate hereafter arising it shall deliver to the Collateral Agent a completed

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<PAGE>

Pledge Supplement, together with all Supplements to Schedules thereto,
identifying such new Commercial Tort Claims.

SECTION 5. ACCESS; RIGHT OF INSPECTION AND FURTHER ASSURANCES; ADDITIONAL
     GRANTORS.

     5.1 ACCESS; RIGHT OF INSPECTION. The Collateral Agent shall at reasonable
times with reasonable notice have full and free access during normal business
hours and without unreasonable disruption of business to all the books,
correspondence and records of each Grantor, and the Collateral Agent and its
representatives may examine the same, take extracts therefrom and make
photocopies thereof, and each Grantor agrees to render to the Collateral Agent,
at such Grantor's cost and expense, such clerical and other assistance as may be
reasonably requested with regard thereto. The Collateral Agent and its
representatives shall at reasonable times with reasonable notice also have the
right during normal business hours and without unreasonable disruption of
business to enter any premises of each Grantor and inspect any property of each
Grantor where any of the Collateral of such Grantor granted pursuant to this
Agreement is located for the purpose of inspecting or exhibiting the same,
observing its use or otherwise protecting its interests therein. The Collateral
Agent shall (and shall cause all of its representatives to) keep all information
regarding the Grantors or obtained from any of the Grantors confidential in
accordance with Section 10.17 of the Credit Agreement.

     5.2 Further Assurances.

          (a) Each Grantor agrees that from time to time, at the expense of such
Grantor, that it shall promptly execute and deliver all further instruments and
documents, and take all further action, that may be necessary or desirable, or
that the Collateral Agent may reasonably request, in order to create and/or
maintain the validity, perfection or priority of and protect any security
interest granted or purported to be granted hereby or to enable the Collateral
Agent to exercise and enforce its rights and remedies hereunder with respect to
any Collateral. Without limiting the generality of the foregoing, each Grantor
shall:

               (i) file such financing or continuation statements, or amendments
     thereto, and execute and deliver such other agreements, instruments,
     endorsements, powers of attorney or notices, as may be necessary or
     desirable, or as the Collateral Agent may reasonably request, in order to
     perfect and preserve the security interests granted or purported to be
     granted hereby;

               (ii) take all actions necessary to ensure the recordation of
     appropriate evidence of the liens and security interest granted hereunder
     in the Intellectual Property with any intellectual property registry in the
     United States which said Intellectual Property is registered or in which an
     application for registration is pending including, without limitation, the
     United States Patent and Trademark Office, the United States Copyright
     Office, the various Secretaries of State, and the foreign counterparts of
     any of the foregoing; and

               (iii) at the Collateral Agent's request, appear in and defend any
     action or proceeding that may affect such Grantor's title to or the
     Collateral Agent's security interest in all or any part of the Collateral.

          (b) Each Grantor hereby authorizes the Collateral Agent to file a
Record or Records, including, without limitation, financing or continuation
statements, and amendments thereto, in any jurisdictions and with any filing
offices as the Collateral Agent may determine, in its sole discretion, are
necessary or advisable to perfect the security interest granted to the
Collateral Agent herein. Such financing statements may describe the Collateral
in the same manner as described herein or may contain an indication or
description of collateral that describes such property in any other manner as
the Collateral Agent may determine, in its sole discretion, is necessary,
advisable or prudent to ensure the perfection of the security interest in the
Collateral granted to the Collateral Agent herein, including, without
limitation, describing such property as "all assets" or "all personal property,
whether now owned or hereafter acquired." Each Grantor shall furnish to the
Collateral Agent from time to time statements and schedules further identifying
and describing the Collateral and such other reports in connection with the
Collateral as the Collateral Agent may reasonably request, all in reasonable
detail.

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<PAGE>

          (c) Each Grantor hereby authorizes the Collateral Agent to modify this
Agreement after obtaining such Grantor's approval of or signature to such
modification by amending Schedule 4.7 (as such schedule may be amended or
supplemented from time to time) to include reference to any right, title or
interest in any existing Intellectual Property or any Intellectual Property
acquired or developed by any Grantor after the execution hereof or to delete any
reference to any right, title or interest in any Intellectual Property in which
any Grantor no longer has or claims any right, title or interest.

     5.3 ADDITIONAL GRANTORS. From time to time subsequent to the date hereof,
additional Persons may become parties hereto as additional Grantors (each, an
"ADDITIONAL GRANTOR"), by executing a Counterpart Agreement. Upon delivery of
any such counterpart agreement to the Collateral Agent, notice of which is
hereby waived by Grantors, each Additional Grantor shall be a Grantor and shall
be as fully a party hereto as if Additional Grantor were an original signatory
hereto. Each Additional Grantor shall deliver to the Collateral Agent, together
with such Counterpart Agreement, a completed Pledge Supplement, together with
all Supplements to Schedules thereto, reflecting all personal property to which
it has rights that will be deemed Collateral pursuant to Section 2.1. Each
Grantor expressly agrees that its obligations arising hereunder shall not be
affected or diminished by the addition or release of any other Grantor
hereunder, nor by any election of the Collateral Agent not to cause any
Subsidiary of the Company to become an Additional Grantor hereunder. This
Agreement shall be fully effective as to any Grantor that is or becomes a party
hereto regardless of whether any other Person becomes or fails to become or
ceases to be a Grantor hereunder.

SECTION 6. COLLATERAL AGENT APPOINTED ATTORNEY-IN-FACT.

     6.1 POWER OF ATTORNEY. Each Grantor hereby irrevocably appoints the
Collateral Agent (such appointment being coupled with an interest) as such
Grantor's attorney-in-fact, with full authority in the place and stead of such
Grantor and in the name of such Grantor, the Collateral Agent or otherwise, from
time to time in the Collateral Agent's reasonable discretion to take any action
and to execute any instrument that the Collateral Agent may deem reasonably
necessary or advisable to accomplish the purposes of this Agreement in each
case, subject to the provisions of the Intercreditor Agreement, including,
without limitation, the following:

          (a) upon the occurrence and during the continuance of any Event of
Default, to obtain and adjust insurance required to be maintained by such
Grantor or paid to the Collateral Agent pursuant to the Credit Agreement;

          (b) upon the occurrence and during the continuance of any Event of
Default, to ask for, demand, collect, sue for, recover, compound, receive and
give acquittance and receipts for moneys due and to become due under or in
respect of any of the Collateral;

          (c) upon the occurrence and during the continuance of any Event of
Default, to receive, endorse and collect any drafts or other instruments,
documents and chattel paper in connection with clause (b) above;

          (d) upon the occurrence and during the continuance of any Event of
Default, to file any claims or take any action or institute any proceedings that
the Collateral Agent may deem necessary or desirable for the collection of any
of the Collateral or otherwise to enforce the rights of the Collateral Agent
with respect to any of the Collateral;

          (e) to prepare and file any UCC financing statements against such
Grantor as debtor;

          (f) to prepare, sign, and file for recordation in any intellectual
property registry, appropriate evidence of the lien and security interest
granted herein in the Intellectual Property in the name of such Grantor as
assignor;

          (g) upon the occurrence and during the continuance of any Event of
Default, to take or cause to be taken all actions necessary to perform or comply
or cause performance or compliance with the terms of this Agreement, including,
without limitation, to pay or discharge taxes or Liens (other than Permitted
Liens) levied or

                                       22

<PAGE>

placed upon or threatened against the Collateral, the legality or validity
thereof and the amounts necessary to discharge the same to be determined by the
Collateral Agent in its sole discretion, any such payments made by the
Collateral Agent to become obligations of such Grantor to the Collateral Agent,
due and payable immediately without demand; and

          (h) upon the occurrence and during the continuance of any Event of
Default, generally to sell, transfer, pledge, make any agreement with respect to
or otherwise deal with any of the Collateral as fully and completely as though
the Collateral Agent were the absolute owner thereof for all purposes, and to
do, at the Collateral Agent's option and such Grantor's expense, at any time or
from time to time, all acts and things that the Collateral Agent deems
reasonably necessary to protect, preserve or realize upon the Collateral and the
Collateral Agent's security interest therein in accordance with the terms of
this Agreement, all as fully and effectively as such Grantor might do.

     6.2 NO DUTY ON THE PART OF COLLATERAL AGENT OR SECURED PARTIES. The powers
conferred on the Collateral Agent hereunder are solely to protect the interests
of the Secured Parties in the Collateral and shall not impose any duty upon the
Collateral Agent or any Secured Party to exercise any such powers. The
Collateral Agent and the Secured Parties shall be accountable only for amounts
that they actually receive as a result of the exercise of such powers, and
neither they nor any of their or their Affiliates' officers, directors,
employees or agents shall be responsible to any Grantor for any act or failure
to act hereunder, except for their gross negligence or willful misconduct.

SECTION 7. REMEDIES.

     7.1 GENERALLY. Subject to the provisions of the Intercreditor Agreement:

          (a) If any Event of Default shall have occurred and be continuing, the
Collateral Agent may exercise in respect of the Collateral, in addition to all
other rights and remedies provided for herein or otherwise available to it at
law or in equity, all the rights and remedies of a secured party under the UCC
(whether or not the UCC applies to the affected Collateral) to collect, enforce
or satisfy any Secured Obligations then owing, whether by acceleration or
otherwise, and also may pursue any of the following separately, successively or
simultaneously:

               (i) require any Grantor to, and each Grantor hereby agrees that
     it shall at its expense and promptly upon request of the Collateral Agent
     forthwith, assemble all or part of the Collateral as directed by the
     Collateral Agent and make it available to the Collateral Agent at a place
     to be designated by the Collateral Agent that is reasonably convenient to
     both parties;

               (ii) enter onto the property where any Collateral is located and
     take possession thereof with or without judicial process;

               (iii) prior to the disposition of the Collateral, store, process,
     repair or recondition the Collateral or otherwise prepare the Collateral
     for disposition in any manner to the extent the Collateral Agent deems
     appropriate; and

               (iv) without notice except as specified below or under the UCC,
     sell, assign, lease, license (on an exclusive or nonexclusive basis) or
     otherwise dispose of the Collateral or any part thereof in one or more
     parcels at public or private sale, at any of the Collateral Agent's offices
     or elsewhere, for cash, on credit or for future delivery, at such time or
     times and at such price or prices and upon such other terms as the
     Collateral Agent may deem commercially reasonable.

          (b) The Collateral Agent or any Secured Party may be the purchaser of
any or all of the Collateral at any public or private (to the extent such
portion of the Collateral being privately sold is of a kind that is customarily
sold on a recognized market or the subject of widely distributed standard price
quotations) sale in accordance with the UCC and the Collateral Agent, as
collateral agent for and representative of the Secured Parties, shall be
entitled, for the purpose of bidding and making settlement or payment of the
purchase price for all or any portion of the Collateral sold at any such sale
made in accordance with the UCC, to use and apply any of the

                                       23

<PAGE>

Secured Obligations as a credit on account of the purchase price for any
Collateral payable by the Collateral Agent at such sale. Each purchaser at any
such sale shall hold the property sold absolutely free from any claim or right
on the part of any Grantor, and each Grantor hereby waives (to the extent
permitted by applicable law) all rights of redemption, stay and/or appraisal
which it now has or may at any time in the future have under any rule of law or
statute now existing or hereafter enacted. Each Grantor agrees that, to the
extent notice of sale shall be required by law, at least ten (10) days notice to
such Grantor of the time and place of any public sale or the time after which
any private sale is to be made shall constitute reasonable notification. The
Collateral Agent shall not be obligated to make any sale of Collateral
regardless of notice of sale having been given. The Collateral Agent may adjourn
any public or private sale from time to time by announcement at the time and
place fixed therefor, and such sale may, without further notice, be made at the
time and place to which it was so adjourned. Each Grantor agrees that it would
not be commercially unreasonable for the Collateral Agent to dispose of the
Collateral or any portion thereof by using Internet sites that provide for the
auction of assets of the types included in the Collateral or that have the
reasonable capability of doing so, or that match buyers and sellers of assets.
Each Grantor hereby waives any claims against the Collateral Agent and the
Secured Parties arising by reason of the fact that the price at which any
Collateral may have been sold at such a private sale was less than the price
which might have been obtained at a public sale, even if the Collateral Agent
accepts the first offer received and does not offer such Collateral to more than
one offeree. If the proceeds of any sale or other disposition of the Collateral
are insufficient to pay all the Secured Obligations, Grantors shall be liable
for the deficiency and the reasonable fees of any attorneys employed by the
Collateral Agent to collect such deficiency. Each Grantor further agrees that a
breach of any of the covenants contained in this Section will cause irreparable
injury to the Collateral Agent, that the Collateral Agent has no adequate remedy
at law in respect of such breach and, as a consequence, that each and every
covenant contained in this Section shall be specifically enforceable against
such Grantor, and such Grantor hereby waives and agrees not to assert any
defenses against an action for specific performance of such covenants except for
a defense that no default has occurred giving rise to the Secured Obligations
becoming due and payable prior to their stated maturities. Nothing in this
Section shall in any way alter the rights of the Collateral Agent hereunder.

          (c) The Collateral Agent may sell the Collateral without giving any
warranties as to the Collateral. The Collateral Agent may specifically disclaim
or modify any warranties of title or the like. This procedure will not be
considered to adversely effect the commercial reasonableness of any sale of the
Collateral.

          (d) The Collateral Agent shall have no obligation to marshal any of
the Collateral.

     7.2 APPLICATION OF PROCEEDS. Except as expressly provided elsewhere in this
Agreement, and subject to the provisions of the Intercreditor Agreement, all
proceeds received by the Collateral Agent in respect of any sale, any collection
from, or other realization upon all or any part of the Collateral shall be
applied in full or in part by the Collateral Agent against, the Secured
Obligations in the following order of priority: first, to the payment of all
reasonable costs and expenses of such sale, collection or other realization,
including reasonable out-of-pocket expenses of the Collateral Agent paid or
payable to its agents and counsel, and all other expenses, liabilities and
advances made or incurred by the Collateral Agent in connection therewith, and
all amounts for which the Collateral Agent is entitled to indemnification
hereunder (in its capacity as the Collateral Agent and not as a Lender) and all
advances made by the Collateral Agent hereunder for the account of the
applicable Grantor, and to the payment of all costs and expenses paid or
incurred by the Collateral Agent in connection with the exercise of any right or
remedy hereunder or under the Credit Agreement, all in accordance with the terms
hereof or thereof; second, to the extent of any excess of such proceeds, to the
payment of all other Secured Obligations for the ratable benefit of the Lenders
and the Lender Counterparties; and third, to the extent of any excess of such
proceeds, to the payment to or upon the order of such Grantor or to whosoever
may be lawfully entitled to receive the same or as a court of competent
jurisdiction may direct.

     7.3 SALES ON CREDIT. If Collateral Agent sells any of the Collateral upon
credit, Grantor will be credited only with payments actually made by purchaser
and received by Collateral Agent and applied to indebtedness of the purchaser.
In the event the purchaser fails to pay for the Collateral, Collateral Agent may
resell the Collateral and Grantor shall be credited with proceeds of the sale.

     7.4 DEPOSIT ACCOUNTS.

                                       24

<PAGE>

     Subject to the provisions of the Intercreditor Agreement, if any Event of
Default shall have occurred and be continuing, the Collateral Agent may apply
the balance from any Deposit Account or instruct the bank at which any Deposit
Account is maintained to pay the balance of any Deposit Account to or for the
benefit of the Collateral Agent.

     7.5 INVESTMENT RELATED PROPERTY.

     Each Grantor recognizes that, by reason of certain prohibitions contained
in the Securities Act and applicable state securities laws, the Collateral Agent
may be compelled, with respect to any sale of all or any part of the Investment
Related Property conducted without prior registration or qualification of such
Investment Related Property under the Securities Act and/or such state
securities laws, to limit purchasers to those who will agree, among other
things, to acquire the Investment Related Property for their own account, for
investment and not with a view to the distribution or resale thereof. Each
Grantor acknowledges that any such private sale may be at prices and on terms
less favorable than those obtainable through a public sale without such
restrictions (including a public offering made pursuant to a registration
statement under the Securities Act) and, notwithstanding such circumstances,
each Grantor agrees that any such private sale shall be deemed to have been made
in a commercially reasonable manner and that the Collateral Agent shall have no
obligation to engage in public sales and no obligation to delay the sale of any
Investment Related Property for the period of time necessary to permit the
issuer thereof to register it for a form of public sale requiring registration
under the Securities Act or under applicable state securities laws, even if such
issuer would, or should, agree to so register it. If the Collateral Agent
determines to exercise its right to sell any or all of the Investment Related
Property, upon written request, each Grantor shall and shall cause each issuer
of any Pledged Stock to be sold hereunder, each partnership and each limited
liability company from time to time to furnish to the Collateral Agent all such
information as the Collateral Agent may request in order to determine the number
and nature of interest, shares or other instruments included in the Investment
Related Property which may be sold by the Collateral Agent in exempt
transactions under the Securities Act and the rules and regulations of the
Securities and Exchange Commission thereunder, as the same are from time to time
in effect.

     7.6 INTELLECTUAL PROPERTY.

          (a) Anything contained herein to the contrary notwithstanding, but
subject to the provisions of the Intercreditor Agreement, upon the occurrence
and during the continuation of an Event of Default:

               (i) the Collateral Agent shall have the right (but not the
     obligation) to bring suit or otherwise commence any action or proceeding in
     the name of any Grantor, the Collateral Agent or otherwise, in the
     Collateral Agent's sole discretion, to enforce any Intellectual Property,
     in which event such Grantor shall, at the request of the Collateral Agent,
     do any and all lawful acts and execute any and all documents required by
     the Collateral Agent in aid of such enforcement and such Grantor shall
     promptly, upon demand, reimburse and indemnify the Collateral Agent and the
     Secured Parties as provided in Section 10 hereof in connection with the
     exercise of its rights under this Section, and, to the extent that the
     Collateral Agent shall elect not to bring suit to enforce any Intellectual
     Property as provided in this Section, each Grantor agrees to use all
     commercially reasonable efforts, whether by action, suit, proceeding or
     otherwise, to prevent the infringement of any of the Intellectual Property
     by others;

               (ii) upon written demand from the Collateral Agent, each Grantor
     shall grant, assign, convey or otherwise transfer to the Collateral Agent
     an absolute assignment of all of such Grantor's right, title and interest
     in and to the Intellectual Property and shall execute and deliver to the
     Collateral Agent such documents as are necessary or appropriate to carry
     out the intent and purposes of this Agreement;

               (iii) each Grantor agrees that such an assignment and/or
     recording shall be applied to reduce the Secured Obligations outstanding
     only to the extent that the Collateral Agent (or any Secured Party)
     receives cash proceeds in respect of the sale of, or other realization
     upon, the Intellectual Property;

               (iv) within five (5) Business Days after written notice from the
     Collateral Agent, each Grantor shall make available to the Collateral
     Agent, to the extent within such Grantor's power and

                                       25

<PAGE>

     authority, such personnel in such Grantor's employ on the date of such
     Event of Default as the Collateral Agent may reasonably designate, by name,
     title or job responsibility, to permit such Grantor to continue, directly
     or indirectly, to produce, advertise and sell the products and services
     sold or delivered by such Grantor under or in connection with the
     Trademarks or Trademark Licenses, such persons to be available to perform
     their prior functions on the Collateral Agent's behalf and to be
     compensated by the Collateral Agent at such Grantor's expense on a per
     diem, pro-rata basis consistent with the salary and benefit structure
     applicable to each as of the date of such Event of Default; and

               (v) the Collateral Agent shall have the right to notify, or
     require each Grantor to notify, any obligors with respect to amounts due or
     to become due to such Grantor in respect of the Intellectual Property, of
     the existence of the security interest created herein, to direct such
     obligors to make payment of all such amounts directly to the Collateral
     Agent, and, upon such notification and at the expense of such Grantor, to
     enforce collection of any such amounts and to adjust, settle or compromise
     the amount or payment thereof, in the same manner and to the same extent as
     such Grantor might have done.

          (b) If (i) an Event of Default shall have occurred and, by reason of
cure, waiver, modification, amendment or otherwise, no longer be continuing,
(ii) no other Event of Default shall have occurred and be continuing, (iii) an
assignment or other transfer to the Collateral Agent of any rights, title and
interests in and to the Intellectual Property shall have been previously made
and shall have become absolute and effective, and (iv) the Secured Obligations
shall not have become immediately due and payable, upon the written request of
any Grantor, the Collateral Agent shall promptly execute and deliver to such
Grantor, at such Grantor's sole cost and expense, such assignments or other
transfer as may be necessary to reassign to such Grantor any such rights, title
and interests as may have been assigned to the Collateral Agent as aforesaid,
subject to any disposition thereof that may have been made by the Collateral
Agent; provided, after giving effect to such reassignment, the Collateral
Agent's security interest granted pursuant hereto, as well as all other rights
and remedies of the Collateral Agent granted hereunder, shall continue to be in
full force and effect; and provided further, the rights, title and interests so
reassigned shall be free and clear of any other Liens granted by or on behalf of
the Collateral Agent and the Secured Parties.

          (c) Solely for the purpose of enabling the Collateral Agent to
exercise rights and remedies under this Section 7 after an Event of Default has
occurred and is continuing and at such time as the Collateral Agent shall be
entitled under the terms of the Intercreditor Agreement and lawfully entitled to
exercise such rights and remedies, each Grantor hereby grants so long as an
Event of Default has occurred and is continuing, to the Collateral Agent, to the
extent it has the right to do so, an irrevocable, nonexclusive license
(exercisable without payment of royalty or other compensation to such Grantor),
subject, in the case of Trademarks, to the grant of sufficient rights to quality
control and inspection in favor of such Grantor to avoid the risk of
invalidation of said Trademarks, to use, operate under, license, or sublicense
any Intellectual Property now owned or hereafter acquired by such Grantor, and
wherever the same may be located.

     7.7 CASH PROCEEDS. In addition to the rights of the Collateral Agent
specified in Section 4.3 with respect to payments of Receivables and Section
7.6(a)(v) with respect to payments in respect of Intellectual Property, all
proceeds of any Collateral received by any Grantor consisting of cash, checks
and other near-cash items (collectively, "CASH PROCEEDS") (i) except as
specified in clause (ii), shall be applied by such Grantor in a manner not
inconsistent with the Credit Agreement and the Intercreditor Agreement, and (ii)
if an Event of Default shall have occurred and be continuing, subject to the
provisions of the Intercreditor Agreement shall be held by such Grantor in trust
for the Collateral Agent, and if so directed by the Collateral Agent in writing,
shall segregate such Cash Proceeds from other funds of such Grantor, and shall,
following receipt of such written direction, forthwith upon receipt by such
Grantor, turn over to the Collateral Agent such Cash Proceeds in the exact form
received by such Grantor (duly indorsed by such Grantor to the Collateral Agent,
if required), which Cash Proceeds may, in the sole discretion of the Collateral
Agent, (A) be held by the Collateral Agent for the ratable benefit of the
Secured Parties, as collateral security for the Secured Obligations (whether
matured or unmatured) and/or (B) then or at any time thereafter may be applied
by the Collateral Agent against the Secured Obligations then due and owing.

SECTION 8. COLLATERAL AGENT.

                                       26

<PAGE>

     The Collateral Agent has been appointed to act as Collateral Agent
hereunder and under the Intercreditor Agreement by Lenders and, by their
acceptance of the benefits hereof, the other Secured Parties. Subject to the
provisions of the Intercreditor Agreement, the Collateral Agent shall be
obligated, and shall have the right hereunder, to make demands, to give notices,
to exercise or refrain from exercising any rights, and to take or refrain from
taking any action (including, without limitation, the release or substitution of
Collateral), solely in accordance with this Agreement, the Credit Agreement and
the Intercreditor Agreement; provided, the Collateral Agent shall, after payment
in full of all Obligations under the Credit Agreement and the other Credit
Documents, exercise, or refrain from exercising, any remedies provided for
herein in accordance with the instructions of the holders of a majority of the
aggregate notional amount (or, with respect to any Hedge Agreement that has been
terminated in accordance with its terms, the amount then due and payable
(exclusive of expenses and similar payments but including any early termination
payments then due) under such Hedge Agreement) under all Hedge Agreements. In
furtherance of the foregoing provisions of this Section, each Secured Party, by
its acceptance of the benefits hereof, agrees that it shall have no right
individually to realize upon any of the Collateral hereunder, it being
understood and agreed by such Secured Party that all rights and remedies
hereunder may be exercised solely by the Collateral Agent for the benefit of
Secured Parties in accordance with the terms of this Section. Collateral Agent
shall at all times be the same Person that is Administrative Agent under the
Credit Agreement. Written notice of resignation by Administrative Agent pursuant
to subsection 9.7 of the Credit Agreement shall also constitute notice of
resignation as Collateral Agent under this Agreement; removal of Administrative
Agent pursuant to Section 9.7 of the Credit Agreement shall also constitute
removal of Collateral Agent under this Agreement and appointment of a successor
Administrative Agent pursuant to subsection 9.7 of the Credit Agreement shall
also constitute appointment of a successor Collateral Agent under this
Agreement. Upon the acceptance of any appointment as Administrative Agent under
subsection 9.7 of the Credit Agreement by a successor Administrative Agent, that
successor Administrative Agent shall thereupon succeed to and become vested with
all the rights, powers, privileges and duties of the retiring Collateral Agent
under this Agreement. Upon the acceptance of any appointment as Collateral Agent
hereunder by a successor Collateral Agent, that successor Collateral Agent shall
thereupon succeed to and become vested with all the rights, powers, privileges
and duties of the retiring or removed Collateral Agent under this Agreement, and
the retiring or removed Collateral Agent under this Agreement shall promptly (i)
transfer to such successor Collateral Agent all sums, Securities and other items
of Collateral held hereunder, together with all records and other documents
necessary or appropriate in connection with the performance of the duties of the
successor Collateral Agent under this Agreement, and (ii) execute and deliver to
such successor Collateral Agent or otherwise authorize the filing of such
amendments to financing statements, and take such other actions, as may be
necessary or appropriate in connection with the assignment to such successor
Collateral Agent of the security interests created hereunder, whereupon such
retiring or removed Collateral Agent shall be discharged from its duties and
obligations under this Agreement. After any retiring or removed Collateral
Agent's resignation or removal hereunder as the Collateral Agent, the provisions
of this Agreement shall inure to its benefit as to any actions taken or omitted
to be taken by it under this Agreement while it was the Collateral Agent
hereunder.

SECTION 9. CONTINUING SECURITY INTEREST; TRANSFER OF LOANS.

     This Agreement shall create a continuing security interest in the
Collateral and shall remain in full force and effect until the payment in full
of all Secured Obligations, be binding upon each Grantor, its successors and
assigns, and inure, together with the rights and remedies of the Collateral
Agent hereunder, to the benefit of the Collateral Agent and its successors,
transferees and assigns for the benefit and on behalf of the Secured Parties.
Without limiting the generality of the foregoing, but subject to the terms of
the Credit Agreement, any Lender may assign or otherwise transfer any Loans held
by it to any other Person, and such other Person shall thereupon become vested
with all the benefits in respect thereof granted to Lenders herein or otherwise.
Upon the payment in full of all Secured Obligations, the security interest
granted hereby shall terminate hereunder and of record and all rights to the
Collateral shall revert to Grantors. Upon any such termination the Collateral
Agent shall, at Grantors' expense, reasonably promptly upon request by Grantor,
execute and deliver to Grantors such documents as Grantors shall reasonably
request to evidence such termination.

     If any of the Collateral shall be sold, transferred or otherwise disposed
of by any Grantor in a transaction permitted by the Credit Agreement, then the
Collateral Agent, at the request and sole expense of such Grantor, shall execute
and deliver to such Grantor all releases or other documents reasonably necessary
or desirable for the release of the Liens created hereby or by any other Credit
Document on such Collateral. In the case of any such sale,

                                       27

<PAGE>

transfer or disposal of any property constituting Collateral in a transaction
not constituting an "Asset Sale" under (and as defined in the Credit Agreement)
the Liens created hereby on such property shall be automatically released
(without need for further action by any person or entity). At the request and
sole expense of the Company, a Guarantor Subsidiary shall be released from its
obligations hereunder and under any other Credit Document in the event that all
the Capital Stock or substantially all of the assets of such Subsidiary
Guarantor shall be sold, transferred or otherwise disposed of in a transaction
permitted by the Credit Agreement (including by way of merger or consolidation).

SECTION 10. STANDARD OF CARE; COLLATERAL AGENT MAY PERFORM.

     The powers conferred on the Collateral Agent hereunder are solely to
protect its interest, for the benefit and on behalf of the Secured Parties, in
the Collateral and shall not impose any duty upon it to exercise any such
powers. Except for the exercise of reasonable care in the custody of any
Collateral in its possession and the accounting for moneys actually received by
it hereunder, the Collateral Agent shall have no duty as to any Collateral or as
to the taking of any necessary steps to preserve rights against prior parties or
any other rights pertaining to any Collateral. The Collateral Agent shall be
deemed to have exercised reasonable care in the custody and preservation of
Collateral in its possession if such Collateral is accorded treatment
substantially equal to that which the Collateral Agent accords its own property.
Neither the Collateral Agent nor any of its directors, officers, employees or
agents shall be liable for failure to take or delay in taking action under this
Agreement except to the extent such delay or failure arises from the gross
negligence or willful misconduct of the Collateral Agent or shall be under any
obligation to sell or otherwise dispose of any Collateral upon the request of
any Grantor or otherwise. If any Grantor fails to perform any agreement
contained herein, the Collateral Agent may so long as an Event of Default has
occurred and is continuing itself perform, or cause performance of, such
agreement, and the expenses of the Collateral Agent incurred in connection
therewith shall be payable by each Grantor under Section 10.2 of the Credit
Agreement.

SECTION 11. MISCELLANEOUS.

     Any notice required or permitted to be given under this Agreement shall be
given in accordance with Section 10.1 of the Credit Agreement. No failure or
delay on the part of the Collateral Agent in the exercise of any power, right or
privilege hereunder or under any other Credit Document shall impair such power,
right or privilege or be construed to be a waiver of any default or acquiescence
therein, nor shall any single or partial exercise of any such power, right or
privilege preclude other or further exercise thereof or of any other power,
right or privilege. All rights and remedies existing under this Agreement and
the other Credit Documents are cumulative to, and not exclusive of, any rights
or remedies otherwise available. In case any provision in or obligation under
this Agreement shall be invalid, illegal or unenforceable in any jurisdiction,
the validity, legality and enforceability of the remaining provisions or
obligations, or of such provision or obligation in any other jurisdiction, shall
not in any way be affected or impaired thereby. All covenants hereunder shall be
given independent effect so that if a particular action or condition is not
permitted by any of such covenants, the fact that it would be permitted by an
exception to, or would otherwise be within the limitations of, another covenant
shall not avoid the occurrence of a Default or an Event of Default if such
action is taken or condition exists. This Agreement shall be binding upon and
inure to the benefit of the Collateral Agent and Grantors and their respective
successors and assigns. No Grantor shall, without the prior written consent of
the Collateral Agent given in accordance with the Credit Agreement, assign any
right, duty or obligation hereunder. This Agreement and the other Credit
Documents embody the entire agreement and understanding between Grantors and the
Collateral Agent and supersede all prior agreements and understandings between
such parties relating to the subject matter hereof and thereof. Accordingly, the
Credit Documents may not be contradicted by evidence of prior, contemporaneous
or subsequent oral agreements of the parties. There are no unwritten oral
agreements between the parties. This Agreement may be executed in one or more
counterparts and by different parties hereto in separate counterparts, each of
which when so executed and delivered shall be deemed an original, but all such
counterparts together shall constitute but one and the same instrument;
signature pages may be detached from multiple separate counterparts and attached
to a single counterpart so that all signature pages are physically attached to
the same document.

          THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER
SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO ITS

                                       28

<PAGE>

CONFLICTS OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 AND SECTION 5-1402 OF THE
NEW YORK GENERAL OBLIGATION LAWS).

SECTION 12. INTERCREDITOR AGREEMENT.

          (a) Prior to the First Lien Obligations (as such term is defined in
the Intercreditor Agreement) being paid in full, the requirements of this
Agreement to deliver Collateral to Collateral Agent hereunder shall be deemed
satisfied by delivery of such Collateral to First Lien Collateral Agent or to
any other person acting as agent for Collateral Agent.

          (b) Prior to the First Lien Obligations (as such term is defined in
the Intercreditor Agreement) being paid in full, the requirements of this
Agreement to hold or "control" (within the meaning of Sections 8-106, 9-104 or
9-106 of the UCC) Collateral for, on behalf of or for the account of Collateral
Agent hereunder shall be deemed satisfied if such Collateral is held or
controlled for, on behalf of or for the account of First Lien Collateral Agent
or by any other person acting as agent for Collateral Agent.

          (c) Except as otherwise specifically provided herein, the provisions
set forth in the Intercreditor Agreement shall operate either as additions to or
modifications of the obligations of the parties hereunder, as the context may
require. In the event of any conflict between this Agreement and the
Intercreditor Agreement, the provisions of the Intercreditor Agreement shall
prevail.

                                       29

<PAGE>

     IN WITNESS WHEREOF, each Grantor and the Collateral Agent have caused this
Agreement to be duly executed and delivered by their respective officers
thereunto duly authorized as of the date first written above.

                                        AUTOCAM CORPORATION
                                        AUTOCAM-PAX, INC.
                                        AUTOCAM SOUTH CAROLINA, INC.
                                        AUTOCAM GREENVILLE, INC.
                                        AUTOCAM ACQUISITION, INC.
                                        AUTOCAM LASER TECHNOLOGIES, INC.
                                        AUTOCAM-HAR, INC.
                                        AUTOCAM INTERNATIONAL, LTD.
                                        AUTOCAM INTERNATIONAL SALES CORPORATION
                                        TITAN HOLDINGS, INC.

                                        By: /s/ Warren A. Veltman
                                            ------------------------------------
                                        Name: Warren A. Veltman
                                        Title: Treasurer and Secretary

                                       S-1

<PAGE>

                                        THE BANK OF NEW YORK,
                                        as the Collateral Agent

                                        By: /s/ Stephen C. Jerard
                                            ------------------------------------
                                        Name: Stephen C. Jerard
                                        Title: Vice President

                                       S-2

<PAGE>

                                        AUTOCAM EUROPE, B.V.

                                        By: /s/ John C. Kennedy
                                            ------------------------------------
                                        Name: John C. Kennedy, on behalf of
                                              Autocam Corporation
                                        Title: Managing Director

                                       S-3

<PAGE>

                                                                       EXHIBIT A
                                                TO PLEDGE AND SECURITY AGREEMENT

                            FORM OF PLEDGE SUPPLEMENT

     This PLEDGE SUPPLEMENT, dated [mm/dd/yy], is delivered by [NAME OF GRANTOR]
a [NAME OF STATE OF INCORPORATION] [Corporation] (the "GRANTOR") pursuant to the
Pledge and Security Agreement, dated as of December 22, 2005 (as it may be from
time to time amended, restated, modified or supplemented, the "SECURITY
AGREEMENT"), among AUTOCAM CORPORATION, TITAN HOLDINGS, INC. and the other
Grantors named therein, and THE BANK OF NEW YORK, as the Collateral Agent.
Capitalized terms used herein not otherwise defined herein shall have the
meanings ascribed thereto in the Security Agreement.

     Grantor hereby confirms the grant to the Collateral Agent set forth in the
Security Agreement of, and does hereby grant to the Collateral Agent, a security
interest in all of Grantor's right, title and interest in and to all Collateral
to secure the Secured Obligations, in each case whether now or hereafter
existing or in which Grantor now has or hereafter acquires an interest and
wherever the same may be located. Grantor represents and warrants that the
attached Supplements to Schedules accurately and completely set forth all
additional information required pursuant to the Security Agreement and hereby
agrees that such Supplements to Schedules shall constitute part of the Schedules
to the Security Agreement.

     IN WITNESS WHEREOF, Grantor has caused this Pledge Supplement to be duly
executed and delivered by its duly authorized officer as of [MM/DD/YY].

                                        [NAME OF GRANTOR]

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                       A-1

<PAGE>

                                                                    EXHIBIT B TO
                                                   PLEDGE AND SECURITY AGREEMENT

                 [FORM OF GRANT OF TRADEMARK SECURITY INTEREST]

                      GRANT OF TRADEMARK SECURITY INTEREST

NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, THE LIEN AND SECURITY INTEREST
GRANTED TO THE COLLATERAL AGENT PURSUANT TO THIS GRANT OF TRADEMARK SECURITY
INTEREST AND THE EXERCISE OF ANY RIGHT OR REMEDY BY THE COLLATERAL AGENT
HEREUNDER ARE SUBJECT TO THE PROVISIONS OF THE INTERCREDITOR AGREEMENT, DATED AS
OF DECEMBER 22, 2005 (AS AMENDED, RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED
FROM TIME TO TIME, THE "INTERCREDITOR AGREEMENT"), BY AND AMONG AUTOCAM
CORPORATION, A MICHIGAN CORPORATION, CITICORP NORTH AMERICA, INC., AS FIRST LIEN
COLLATERAL AGENT, THE BANK OF NEW YORK, AS SECOND LIEN COLLATERAL AGENT, AND
CERTAIN OTHER PERSONS PARTY THERETO OR THAT MAY BECOME PARTY THERETO FROM TIME
TO TIME. IN THE EVENT OF ANY CONFLICT BETWEEN THE TERMS OF THE INTERCREDITOR
AGREEMENT AND THIS GRANT OF TRADEMARK SECURITY INTEREST, THE TERMS OF THE
INTERCREDITOR AGREEMENT SHALL GOVERN AND CONTROL AS BETWEEN THE FIRST LIEN
COLLATERAL AGENT AND THE COLLATERAL AGENT.

          WHEREAS, [NAME OF GRANTOR], a ___________ corporation ("GRANTOR"),
owns and uses in its business, and will in the future adopt and so use, various
intangible assets, including the Trademark Collateral (as defined below); and

          WHEREAS, Autocam Corporation, a Michigan corporation ("COMPANY"), and
Titan Holdings, Inc., a Delaware corporation, have entered into a Term Loan and
Guaranty Agreement dated as of December 22, 2005 (said Term Loan and Guaranty
Agreement, as it may heretofore have been and as it may hereafter be further
amended, restated, supplemented or otherwise modified from time to time, being
the "CREDIT AGREEMENT") with the financial institutions named therein
(collectively, together with their respective successors and assigns party to
the Credit Agreement from time to time, the "LENDERS"), Goldman Sachs Credit
Partners L.P., as Syndication Agent, and The Bank of New York, as Administrative
Agent for the Lenders pursuant to which Lenders have made certain commitments,
subject to the terms and conditions set forth in the Credit Agreement, to extend
certain credit facilities to Company; and

          WHEREAS, Company may from time to time enter, or may from time to time
have entered, into one or more interest rate swap agreement or currency swap
agreement or other similar agreements or arrangements (collectively, the "HEDGE
AGREEMENTS") with one or more Persons that are Lenders or Affiliates of Lenders
at the time such Hedge Agreements are entered into (in such capacity,
collectively, "LENDER COUNTERPARTIES"); and

          [Insert if Grantor is a Subsidiary:] [WHEREAS, pursuant to Section 7
of the Credit Agreement, Grantor has guaranteed the prompt payment and
performance when due of all obligations of Company under the Credit Agreement
and the other Credit Documents and all obligations of Company under the Hedge
Agreements, including, without limitation, the obligation of Company to make
payments thereunder in the event of early termination thereof; and]

          WHEREAS, pursuant to the terms of a Pledge and Security Agreement
dated as of December 22, 2005 (said Pledge and Security Agreement, as it may
heretofore have been and as it may hereafter be further amended, restated,
supplemented or otherwise modified from time to time, being the "SECURITY
AGREEMENT"; the capitalized terms used in this Grant of Trademark Security
Interest not otherwise defined herein shall have the respective meanings given
thereto in the Security Agreement), among Grantor, Collateral Agent and the
other grantors named therein, Grantor has created in favor of Secured Party a
security interest in, and Secured Party has become a secured creditor with
respect to, the Trademark Collateral;

          NOW, THEREFORE, for good and valuable consideration, the receipt and
     adequacy of which are hereby acknowledged, subject to the terms and
     conditions of the Security Agreement, to evidence further the security
     interest granted by Grantor to Secured Party pursuant to the Security
     Agreement, Grantor hereby grants to Secured Party a security interest in
     all of Grantor's right, title and interest in and to the following, in each
     case whether now or hereafter existing or in which Grantor now has or
     hereafter acquires an interest and wherever the same may be located (the
     "TRADEMARK COLLATERAL"):

          (i) all rights, title and interest (including rights acquired pursuant
     to a license or otherwise) in and to all United States, and foreign
     trademarks, trade names, corporate names, company names, business names,
     fictitious

                                       B-1

<PAGE>

     business names, Internet domain names, service marks, certification marks,
     collective marks, logos, other source or business identifiers, designs and
     general intangibles of a like nature, all registrations and applications
     for any of the foregoing including, but not limited to: (a) the
     registrations and applications referred to in Schedule A annexed hereto,
     (b) all extensions or renewals of any of the foregoing, (c) all of the
     goodwill of the business connected with the use of and symbolized by the
     foregoing, and (d) the right to sue for past, present and future
     infringement or dilution of any of the foregoing or for any injury to
     goodwill; and

          (ii) all proceeds, products, accessions, rents and profits of or from
     any and all of the foregoing Trademark Collateral, including, without
     limitation, licenses, royalties, income, payments, claims, damages, and
     proceeds of suit. For purposes of this Grant of Trademark Security
     Interest, the term "PROCEEDS" includes whatever is receivable or received
     when Trademark Collateral or proceeds are sold, licensed, exchanged,
     collected or otherwise disposed of, whether such disposition is voluntary
     or involuntary.

Grantor does hereby further acknowledge and affirm that the rights and remedies
of Collateral Agent with respect to the security interest in the Trademark
Collateral granted hereby are more fully set forth in the Security Agreement,
the terms and provisions of which are incorporated by reference herein as if
fully set forth herein.

            [The remainder of this page is intentionally left blank.]

                                       B-2

<PAGE>

     IN WITNESS WHEREOF, Grantor has caused this Grant of Trademark Security
Interest to be duly executed and delivered by its officer thereunto duly
authorized as of the __ day of _______, _____.

                                        [NAME OF GRANTOR]

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                       B-3

<PAGE>

                                   SCHEDULE A
                                       TO
                      GRANT OF TRADEMARK SECURITY INTEREST

<TABLE>
<CAPTION>
         Trademark    Registration/Appl.   Registration/Appl.
Owner   Description         Number                Date
-----   -----------   ------------------   ------------------
<S>     <C>           <C>                  <C>

</TABLE>

                                      B-A-1

<PAGE>

                                                                    EXHIBIT C TO
                                                              SECURITY AGREEMENT

                 [FORM OF GRANT OF COPYRIGHT SECURITY INTEREST]

                      GRANT OF COPYRIGHT SECURITY INTEREST

NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, THE LIEN AND SECURITY INTEREST
GRANTED TO THE COLLATERAL AGENT PURSUANT TO THIS GRANT OF COPYRIGHT SECURITY
INTEREST AND THE EXERCISE OF ANY RIGHT OR REMEDY BY THE COLLATERAL AGENT
HEREUNDER ARE SUBJECT TO THE PROVISIONS OF THE INTERCREDITOR AGREEMENT, DATED AS
OF DECEMBER 22, 2005 (AS AMENDED, RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED
FROM TIME TO TIME, THE "INTERCREDITOR AGREEMENT"), BY AND AMONG AUTOCAM
CORPORATION, A MICHIGAN CORPORATION, CITICORP NORTH AMERICA, INC., AS FIRST LIEN
COLLATERAL AGENT, THE BANK OF NEW YORK, AS SECOND LIEN COLLATERAL AGENT, AND
CERTAIN OTHER PERSONS PARTY THERETO OR THAT MAY BECOME PARTY THERETO FROM TIME
TO TIME. IN THE EVENT OF ANY CONFLICT BETWEEN THE TERMS OF THE INTERCREDITOR
AGREEMENT AND THIS GRANT OF COPYRIGHT SECURITY INTEREST, THE TERMS OF THE
INTERCREDITOR AGREEMENT SHALL GOVERN AND CONTROL AS BETWEEN THE FIRST LIEN
COLLATERAL AGENT AND THE COLLATERAL AGENT.

          WHEREAS, [NAME OF GRANTOR], a ___________ corporation ("GRANTOR"),
owns and uses in its business, and will in the future adopt and so use, various
intangible assets, including the Copyright Collateral (as defined below); and

          WHEREAS, Autocam Corporation, a Michigan corporation ("COMPANY"), and
Titan Holdings, Inc., a Delaware corporation, have entered into a Term Loan and
Guaranty Agreement dated as of December 22, 2005 (said Term Loan and Credit
Agreement, as it may heretofore have been and as it may hereafter be further
amended, restated, supplemented or otherwise modified from time to time, being
the "CREDIT AGREEMENT") with the financial institutions named therein
(collectively, together with their respective successors and assigns party to
the Credit Agreement from time to time, the "LENDERS"), Goldman Sachs Credit
Partners L.P., as Syndication Agent, and The Bank of New York, as Administrative
Agent for the Lenders pursuant to which Lenders have made certain commitments,
subject to the terms and conditions set forth in the Credit Agreement, to extend
certain credit facilities to Company; and

          WHEREAS, Company may from time to time enter, or may from time to time
have entered, into one or more interest rate swap agreement or currency swap
agreement or other similar agreements or arrangements (collectively, the "HEDGE
AGREEMENTS") with one or more Persons that are Lenders or Affiliates of Lenders
at the time such Hedge Agreements are entered into (in such capacity,
collectively, "LENDER COUNTERPARTIES"); and

          [Insert if Grantor is a Subsidiary:] [WHEREAS, pursuant to Section 7
of the Credit Agreement, Grantor has guaranteed the prompt payment and
performance when due of all obligations of Company under the Credit Agreement
and the other Credit Documents and all obligations of Company under the Hedge
Agreements, including, without limitation, the obligation of Company to make
payments thereunder in the event of early termination thereof; and]

          WHEREAS, pursuant to the terms of a Pledge and Security Agreement
dated as of December 22, 2005 (said Pledge and Security Agreement, as it may
heretofore have been and as it may hereafter be further amended, restated,
supplemented or otherwise modified from time to time, being the "SECURITY
AGREEMENT"; the capitalized terms used in this Grant of Trademark Security
Interest not otherwise defined herein shall have the respective meanings given
thereto in the Security Agreement), among Grantor, Collateral Agent and the
other grantors named therein, Grantor created in favor of Collateral Agent a
security interest in, and Collateral Agent has become a secured creditor with
respect to, the Copyright Collateral;

          NOW, THEREFORE, for good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, subject to the terms and conditions
of the Security Agreement, to evidence further the security interest granted by
Grantor to Collateral Agent pursuant to the Security Agreement, Grantor hereby
grants to Collateral Agent a security interest in all of Grantor's right, title
and interest in and to the following, in each case whether now or hereafter
existing or in which Grantor now has or hereafter acquires an interest and
wherever the same may be located (the "COPYRIGHT COLLATERAL"):

          (i) all rights, title and interest (including rights acquired pursuant
     to a license or otherwise) under all United States, and foreign copyrights
     (including Community designs), including but not limited to copyrights in
     software and databases, and all Mask Works (as defined under 17 U.S.C. 901
     of the U.S. Copyright Act), whether

                                       C-1

<PAGE>

     registered or unregistered, and, with respect to any and all of the
     foregoing: (i) all registrations and applications therefor including,
     without limitation, the registrations and applications applied for thereon
     in the United States and any state thereof and in foreign countries
     referred to in Schedule A annexed hereto, (ii) all extensions and renewals
     thereof, (iii) all rights corresponding thereto throughout the world, and
     (iv) all rights to sue for past, present and future infringements thereof;
     and

          (ii) all proceeds, products, accessions, rents and profits of or from
     any and all of the foregoing Copyright Collateral, including, without
     limitation, licenses, royalties, income, payments, claims, damages, and
     proceeds of suit. For purposes of this Grant of Copyright Security
     Interest, the term "PROCEEDS" includes whatever is receivable or received
     when Copyright Collateral or proceeds are sold, licensed, exchanged,
     collected or otherwise disposed of, whether such disposition is voluntary
     or involuntary.

Grantor does hereby further acknowledge and affirm that the rights and remedies
of Collateral Agent with respect to the security interest in the Copyright
Collateral granted hereby are more fully set forth in the Security Agreement,
the terms and provisions of which are incorporated by reference herein as if
fully set forth herein.

     IN WITNESS WHEREOF, Grantor has caused this Grant of Copyright Security
Interest to be duly executed and delivered by its officer thereunto duly
authorized as of the ___ day of ___________, _____.

                                        [NAME OF GRANTOR]

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                       C-2

<PAGE>

                                   SCHEDULE A
                                       TO
                      GRANT OF COPYRIGHT SECURITY INTEREST

U.S. COPYRIGHT REGISTRATIONS:

<TABLE>
<CAPTION>
Title   Registration No   Date of Issue   Registered Owner
-----   ---------------   -------------   ----------------
<S>     <C>               <C>             <C>

</TABLE>

FOREIGN COPYRIGHT REGISTRATIONS:

<TABLE>
<CAPTION>
Country   Title   Registration No   Date of Issue
-------   -----   ---------------   -------------
<S>       <C>     <C>               <C>

</TABLE>

PENDING U.S. COPYRIGHT REGISTRATION APPLICATIONS:

<TABLE>
<CAPTION>
Title   Appl. No.   Date of Application   Copyright Claimant
-----   ---------   -------------------   ------------------
<S>     <C>         <C>                   <C>

</TABLE>

PENDING FOREIGN COPYRIGHT REGISTRATION APPLICATIONS:

<TABLE>
<CAPTION>
Country   Title   Appl. No   Date of Application
-------   -----   --------   -------------------
<S>       <C>     <C>        <C>

</TABLE>

                                      C-A-1

<PAGE>

                                                                    EXHIBIT D TO
                                                              SECURITY AGREEMENT

                   [FORM OF GRANT OF PATENT SECURITY INTEREST]

                        GRANT OF PATENT SECURITY INTEREST

NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, THE LIEN AND SECURITY INTEREST
GRANTED TO THE COLLATERAL AGENT PURSUANT TO THIS GRANT OF PATENT SECURITY
INTEREST AND THE EXERCISE OF ANY RIGHT OR REMEDY BY THE COLLATERAL AGENT
HEREUNDER ARE SUBJECT TO THE PROVISIONS OF THE INTERCREDITOR AGREEMENT, DATED AS
OF DECEMBER 22, 2005 (AS AMENDED, RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED
FROM TIME TO TIME, THE "INTERCREDITOR AGREEMENT"), BY AND AMONG AUTOCAM
CORPORATION, A MICHIGAN CORPORATION, CITICORP NORTH AMERICA, INC., AS FIRST LIEN
COLLATERAL AGENT, THE BANK OF NEW YORK, AS SECOND LIEN COLLATERAL AGENT, AND
CERTAIN OTHER PERSONS PARTY THERETO OR THAT MAY BECOME PARTY THERETO FROM TIME
TO TIME. IN THE EVENT OF ANY CONFLICT BETWEEN THE TERMS OF THE INTERCREDITOR
AGREEMENT AND THIS GRANT OF PATENT SECURITY INTEREST, THE TERMS OF THE
INTERCREDITOR AGREEMENT SHALL GOVERN AND CONTROL AS BETWEEN THE FIRST LIEN
COLLATERAL AGENT AND THE COLLATERAL AGENT.

          WHEREAS, [NAME OF GRANTOR], a ___________ corporation ("GRANTOR"),
owns and uses in its business, and will in the future adopt and so use, various
intangible assets, including the Patent Collateral (as defined below); and

          WHEREAS, Autocam Corporation, a Michigan corporation ("COMPANY"), and
Titan Holdings, Inc., a Delaware corporation, have entered into a Term Loan and
Guaranty Agreement dated as of December 22, 2005 (said Term Loan and Guaranty
Agreement, as it may heretofore have been and as it may hereafter be further
amended, restated, supplemented or otherwise modified from time to time, being
the "CREDIT AGREEMENT") with the financial institutions named therein
(collectively, together with their respective successors and assigns party to
the Credit Agreement from time to time, the "LENDERS"), Goldman Sachs Credit
Partners L.P., as Syndication Agent, and The Bank of New York, as Administrative
Agent for the Lenders pursuant to which Lenders have made certain commitments,
subject to the terms and conditions set forth in the Credit Agreement, to extend
certain credit facilities to Company; and

          WHEREAS, Company may from time to time enter, or may from time to time
have entered, into one or more interest rate swap agreement or currency swap
agreement or other similar agreements or arrangements (collectively, the "HEDGE
AGREEMENTS") with one or more Persons that are Lenders or Affiliates of Lenders
at the time such Hedge Agreements are entered into (in such capacity,
collectively, "LENDER COUNTERPARTIES"); and

          [Insert if Grantor is a Subsidiary:] [WHEREAS, pursuant to Section 7
of the Credit Agreement, Grantor has guaranteed the prompt payment and
performance when due of all obligations of Company under the Credit Agreement
and the other Credit Documents and all obligations of Company under the Hedge
Agreements, including, without limitation, the obligation of Company to make
payments thereunder in the event of early termination thereof; and]

          WHEREAS, pursuant to the terms of a Pledge and Security Agreement
dated as of December 22, 2005 (said Pledge and Security Agreement, as it may
heretofore have been and as it may hereafter be further amended, restated,
supplemented or otherwise modified from time to time, being the "SECURITY
AGREEMENT"; the capitalized terms used in this Grant of Patent Security Interest
not otherwise defined herein shall have the respective meanings given thereto in
the Security Agreement), among Grantor, Collateral Agent and the other grantors
named therein, Grantor created in favor of Collateral Agent a security interest
in, and Collateral Agent has become a secured creditor with respect to, the
Patent Collateral;

          NOW, THEREFORE, for good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, subject to the terms and conditions
of the Security Agreement, to evidence further the security interest granted by
Grantor to Collateral Agent pursuant to the Security Agreement, Grantor hereby
grants to Collateral Agent a security interest in all of Grantor's right, title
and interest in and to the following, in each case whether now or hereafter
existing or in which Grantor now has or hereafter acquires an interest and
wherever the same may be located (the "PATENT COLLATERAL"):

     (i) all rights, title and interest (including rights acquired pursuant to a
     license or otherwise) in and to all United States and foreign patents and
     certificates of invention, or similar industrial property rights, and
     applications for any of the foregoing, including, but not limited to: (i)
     each patent and patent application referred to in Schedule A

                                       D-1

<PAGE>

     annexed hereto, (ii) all reissues, divisions, continuations,
     continuations-in-part, extensions, renewals, and reexaminations thereof,
     (iii) all rights corresponding thereto throughout the world, (iv) all
     inventions and improvements described therein, (v) all rights (but not
     obligations) to sue for past, present and future infringements thereof, and
     (vi) all licenses, claims, damages, and proceeds of suit arising therefrom;

     (ii) all proceeds, products, accessions, rents and profits of or from any
     and all of the foregoing Patent Collateral, including, without limitation,
     licenses, royalties, income, payments, claims, damages, and proceeds of
     suit. For purposes of this Grant of Patent Security Interest, the term
     "PROCEEDS" includes whatever is receivable or received when Patent
     Collateral or proceeds are sold, licensed, exchanged, collected or
     otherwise disposed of, whether such disposition is voluntary or
     involuntary.

Grantor does hereby further acknowledge and affirm that the rights and remedies
of Collateral Agent with respect to the security interest in the Patent
Collateral granted hereby are more fully set forth in the Security Agreement,
the terms and provisions of which are incorporated by reference herein as if
fully set forth herein.

             [The remainder of this page intentionally left blank.]

                                       D-2

<PAGE>

     IN WITNESS WHEREOF, Grantor has caused this Grant of Patent Security
Interest to be duly executed and delivered by its officer thereunto duly
authorized as of the ___ day of ____________, _____.

                                        [NAME OF GRANTOR]

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                       D-3

<PAGE>

                                                                  EXECUTION COPY

                                   SCHEDULE A
                                       TO
                        GRANT OF PATENT SECURITY INTEREST

PATENTS ISSUED:

<TABLE>
<CAPTION>
Patent No.   Issue Date   Invention   Inventor
----------   ----------   ---------   --------
<S>          <C>          <C>         <C>

</TABLE>

PATENTS PENDING:

<TABLE>
<CAPTION>
Applicant's    Date   Application
    Name      Filed      Number     Invention   Inventor
-----------   -----   -----------   ---------   --------
<S>           <C>     <C>           <C>         <C>

</TABLE>

1<PAGE>
                                                                    EXHIBIT 10.4

                               AUTOCAM CORPORATION

                                SECOND AMENDMENT

                        TO CREDIT AND GUARANTY AGREEMENT

          This SECOND AMENDMENT TO CREDIT AND GUARANTY AGREEMENT (this "SECOND
AMENDMENT") is dated as of December 22, 2005 and entered into by and among
Autocam Corporation, a Michigan corporation (the "COMPANY"), Autocam France,
Sarl, a French societe a responsabilite limitee (limited liability company)
("EUROPEAN BORROWER"), Titan Holdings, Inc., a Delaware corporation
("HOLDINGS"), the other Credit Parties listed on the signature pages hereof, the
financial institutions party hereto (each individually a "LENDER" and
collectively the "LENDERS"), Citicorp North America, Inc., as General
Administrative Agent and Collateral Agent ("GENERAL ADMINISTRATIVE AGENT") and
Citibank International Plc, as European Administrative Agent ("EUROPEAN
ADMINISTRATIVE AGENT"), and is made with reference to that certain Credit and
Guaranty Agreement dated as of June 21, 2004, by and among Company, European
Borrower, Holdings, certain subsidiaries of Company, as Guarantors, the Lenders
party thereto from time to time, Goldman Sachs Credit Partners L.P. ("GSCP") and
Citigroup Global Markets, Inc., as Joint Lead Arrangers and Joint Book Runners,
GSCP, as Syndication Agent, General Administrative Agent, European
Administrative Agent, and Bank One, NA, ING Capital, LLC, and National City Bank
as Documentation Agents, as amended by the First Amendment to Credit Agreement
Credit and Guaranty Agreement dated as of March 31, 2005, by and among Company,
European Borrower, Holdings, the other Credit Parties party thereto, the Lenders
party thereto, the General Administrative Agent and the European Administrative
Agent (as amended, the "CREDIT AGREEMENT"). Capitalized terms used herein
without definition shall have the same meanings as set forth in the Credit
Agreement.

                                    RECITALS

WHEREAS, the Company and the Lenders desire to amend the Credit Agreement to (i)
permit the Company to incur term loans under a senior secured second lien credit
facility in the aggregate principal amount of up to $75,000,000 or the Dollar
Equivalent thereof, the proceeds of which will be used to repay certain
outstanding Loans hereunder, pay related fees and expenses and provide for
working capital as more particularly described herein, (ii) replace the Interest
Coverage Ratio covenant in Section 6.8(a) of the Credit Agreement, the Leverage
Ratio covenant in Section 6.8(b) of the Credit Agreement, and the Senior
Leverage Ratio covenant in Section 6.8(d) of the Credit Agreement with a maximum
First Lien Leverage Ratio covenant and a revised Senior Leverage Ratio covenant,
(iii) amend the Consolidated Capital Expenditures covenant in Section 6.8(c) of
the Credit Agreement, and (iv) address certain other matters set forth below.

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

SECTION 19. AMENDMENTS TO CREDIT AGREEMENT

19.1 Amendments to Section 1: Definitions and Interpretation.

     (a) Section 1.1 of the Credit Agreement is hereby amended by adding thereto
the following definitions, which shall be inserted in proper alphabetical order:

"FIRST LIEN LEVERAGE RATIO" means the ratio of (i) Consolidated Senior Debt
minus the principal amount of Second Lien Term Loans outstanding as of the date
of determination minus the amount of Term Loans repaid with the proceeds of
Additional Sponsor Equity during the 45-day period following the date of
determination to (ii) Consolidated Adjusted EBITDA of Holdings and its
Subsidiaries for the four-Fiscal Quarter period ending on such date.

"INTERCREDITOR AGREEMENT" means the Intercreditor Agreement, dated as of the
Second Amendment Effective Date, by and among the Collateral Agent, as
collateral agent for Lenders, the Second Lien Collateral Agent, as collateral
agent for the lenders under the Second Lien Credit Agreement, and the Company.

2

<PAGE>

"MANAGEMENT SERVICES AGREEMENT" means that certain Management Services Agreement
entered into on or about June 21, 2004, by and between Sponsor and Holdings (as
the same may be amended, restated, supplemented or otherwise modified from time
to time).

"REQUIRED APPLICATION OF PROCEEDS" means the application of the proceeds of the
Second Lien Term Loans, net of amounts thereof used to pay Second Lien
Transaction Costs, amounts used to repay Domestic Revolving Loans and/or
European Revolving Loans outstanding, if any, and cash retained by the Company
not to exceed $10,000,000, toward repayment of the Term Loans, to be applied
pro-rata between the US Term Loans and the European Term Loans in accordance
with their respective aggregate outstanding principal amounts.

"SECOND AMENDMENT" means that certain Second Amendment to this Agreement, dated
as of December 22, 2005.

"SECOND AMENDMENT EFFECTIVE DATE" means "Second Amendment Effective Date" as
defined in the Second Amendment.

"SECOND LIEN ADMINISTRATIVE AGENT" means The Bank of New York, in its capacity
as administrative agent under the Second Lien Credit Agreement, and its
permitted successors in such capacity.

"SECOND LIEN COLLATERAL AGENT" means The Bank of New York, in its capacity as
collateral agent under the Second Lien Credit Agreement, and its permitted
successors in such capacity.

"SECOND LIEN CREDIT AGREEMENT" means the Term Loan and Guaranty Agreement, dated
as of the Second Amendment Effective Date, entered into by Holdings, the
Company, each Domestic Subsidiary and Autocam Europe and the various lenders and
agents thereunder, as the same may be amended, supplemented or otherwise
modified from time to time in accordance with the provisions of Section 6.18.

"SECOND LIEN TERM LOANS" means the term loans made to the Company pursuant to
the Second Lien Credit Agreement on the Second Amendment Effective Date.

"SECOND LIEN TRANSACTION COSTS" means the fees, costs and expenses payable by
Holdings, the Borrowers or any of their Subsidiaries on or about the Second
Amendment Effective Date in connection with this Amendment and the Second Lien
Credit Agreement (including, for avoidance of doubt, consent fees, breakage or
other costs and expenses in connection with the prepayment of Indebtedness).

     (b) Section 1.1 of the Credit Agreement is hereby amended by deleting the
definitions "Additional Term Loans" and "Net Margin" in their entirety.

     (c) The definition of "Applicable Margin" set forth in Section 1.1 of the
Credit Agreement is hereby deleted in its entirety and replaced with the
following:

"APPLICABLE MARGIN" means (i) with respect to Loans that are Eurocurrency Rate
Loans, (a) 3.50% from the Second Amendment Effective Date until the later of (I)
the date that is twelve months after the First Amendment Effective Date, and
(II) three business days after the date on which General Administrative Agent
has received the applicable financial statements and a Compliance Certificate
pursuant to Section 5.1(d) demonstrating a Leverage Ratio of less than or equal
to 4.50:1.00; provided that, the Applicable Margin with respect to the European
Term Loans pursuant to this clause (a) shall be 4.00%; and (b) thereafter, a
percentage, per annum, determined by reference to the Leverage Ratio in effect
from time to time as set forth below:

<TABLE>
<CAPTION>
    LEVERAGE          APPLICABLE MARGIN FOR REVOLVING LOANS,
      RATIO        EUROPEAN REVOLVING LOANS AND U.S. TERM LOANS   APPLICABLE MARGIN FOR EUROPEAN TERM LOANS
    --------       --------------------------------------------   -----------------------------------------
<S>                <C>                                            <C>
> or = 3.00:1.00                       3.25%                                        3.75%

< 3.00:1.00                            3.00%                                        3.50%
</TABLE>

provided, that, at any time the First Lien Leverage Ratio then in effect exceeds
2.25:1.00, the Applicable Margin applicable to Eurocurrency Rate Loans pursuant
to clause (i)(a) or (i)(b) above shall be increased by .25%, and at any time the
First Lien Leverage Ratio then in effect exceeds 2.75:1.00, the Applicable
Margin applicable to Eurocurrency Rate Loans pursuant to clause (i)(a) or (i)(b)
above shall be increased by an additional .25%, and (ii) with respect to Swing
Line Loans and other Loans that are Base Rate Loans, an amount equal to (a) the
Applicable Margin applicable to Eurocurrency Rate Loans pursuant to clause
(i)(a) or (i)(b) above, as applicable, minus (b) 1.00% per annum. No change in
the Applicable Margin shall be effective until three Business Days after the
date on which General Administrative Agent shall have received the applicable
financial

3

<PAGE>

statements and a Compliance Certificate pursuant to Section 5.1(d) calculating
the Leverage Ratio and the First Lien Leverage Ratio. At any time Company has
not submitted to General Administrative Agent the applicable information as and
when required under Section 5.1(d), the Applicable Margin shall be determined as
if the Leverage Ratio were in excess of 3.00:1.00 and the First Lien Leverage
Ratio were in excess of 2.75:1.00. Within one Business Day of receipt of the
applicable information under Section 5.1(d), General Administrative Agent shall
give each Lender telefacsimile or telephonic notice (confirmed in writing) of
the Applicable Margin in effect from such date.

     (d) The definition of "Change of Control" set forth in Section 1.1 of the
Credit Agreement is hereby amended by deleting clause "(vi)" in its entirety and
substituting the following therefor:

          "(vi) any "change of control" or similar event under the Senior
     Subordinated Note Indenture or the Second Lien Credit Agreement or related
     documentation shall occur."

     (e) The definition of "Consolidated Adjusted EBITDA" set forth in Section
1.1 of the Credit Agreement is hereby amended by deleting the reference to
"10,000,000" in clause (f)(II)(b) and substituting "15,000,000" therefor.

     (f) The definition of "Consolidated Adjusted EBITDA" set forth in Section
1.1 of the Credit Agreement is hereby further amended by deleting clauses
(i)(f)(V) and (i)(f)(VI) in their entirety and substituting the following
therefor:

     "(V) charges associated with the write-off of unamortized financing fees
     and related costs arising in connection with the repayment of the Term
     Loans and the reduction of the Revolving Loan Commitments on or about the
     Second Amendment Effective Date, and (VI) Second Lien Transaction Costs
     paid or which became due and payable in Cash by Company and its
     Subsidiaries on or about the Second Amendment Effective Date, and"

     (g) The definition of "Consolidated Interest Expense" set forth in Section
1.1 of the Credit Agreement is hereby amended by deleting the reference to the
following phrase contained therein:

          ", any amounts paid in respect of Additional Term Loans or
     Indebtedness incurred pursuant to Section 6.1(s), in either case,"

     (h) The definition of "French Receivables Facility" set forth in Section
1.1 of the Credit Agreement is hereby amended by deleting the language "with an
aggregate Principal Amount not to exceed $15,000,000 at any one time
outstanding" contained therein.

     (i) The definition of "Permitted Acquisition" set forth in Section 1.1 of
the Credit Agreement is hereby amended as follows:

          (i) by adding the words "at least 45 days prior to the date of
consummation of such acquisition" after the word "ended" in clause (iv) thereof;

          (ii) by deleting the "and" at the end of clause "(v)" thereof,
inserting the word "and" at the end of clause (vi) thereof, and inserting the
following clause (vii) immediately after clause "(vi)" thereof:

          "(vii) the assets, capital stock, business line, unit or division so
     acquired generated positive EBITDA for the four quarter period most
     recently ended prior to the date of such acquisition (or for the four
     quarter period most recently ended for which financial statements are
     available to Holdings and its Subsidiaries), calculated on a pro forma
     basis after giving effect to the acquisition and related transactions (as
     determined in accordance with Section 6.8(e)) and, to the extent such
     Permitted Acquisition is to be financed in whole or part by Indebtedness
     (including assumed Indebtedness), the amount of such Indebtedness shall not
     exceed an amount equal to 3.5 multiplied by the amount of such positive
     EBITDA." and

(iii) by adding the following sentence to the end thereof:

"In addition to the foregoing, the Company's acquisition of assets of ATS
Automation Tooling Systems, Inc.'s Precision Metals Division shall constitute a
Permitted Acquisition so long as the cash consideration paid with respect
thereto is paid with the proceeds of Additional Sponsor Equity."

4

<PAGE>

     (j) The definition of "Restricted Junior Payment" set forth in Section 1.1
of the Credit Agreement is hereby amended by inserting "or Second Lien Term
Loans" immediately after "Subordinated Indebtedness" in clause "(v)" thereof.

     (k) The definition of "Senior Leverage Ratio" set forth in Section 1.1 of
the Credit Agreement is hereby deleted in its entirety and replaced with the
following:

"SENIOR LEVERAGE RATIO" means the ratio of (a) Consolidated Senior Debt as of
the date of determination minus the amount of Consolidated Senior Debt repaid
with the proceeds of Additional Sponsor Equity during the 45-day period
following the date of determination to (b) Consolidated Adjusted EBITDA for the
four-Fiscal Quarter period ending on such date.

19.2 Amendments to Section 2: Loans and Letters of Credit.

     (a) Section 2.1 of the Credit Agreement is hereby amended by deleting
Section 2.1(c) in its entirety.

     (b) Section 2.6 of the Credit Agreement is hereby amended by deleting the
second sentence thereof.

     (c) Section 2.8 of the Credit Agreement is hereby amended by deleting
Section 2.8(i) in its entirety.

19.3 Amendments to Section 4: Representations and Warranties.

     (a) Section 4.9 of the Credit Agreement is hereby amended by deleting the
reference to "December 31, 2003" therein and substituting "September 30, 2005"
therefor.

     (b) Section 4.22 of the Credit Agreement is hereby amended by adding after
the phrase "Each Credit Party" the following:

     "(other than Autocam-Har, Inc., as a result of Franklin Park Lease
Termination Charges)".

     (c) Section 4.25 of the Credit Agreement is hereby amended by adding at the
end thereof the following:

"(including the Form 10-Q for the period ended September 30, 2005 filed by the
Company with the Securities Exchange Commission)."

     (d) Section 4 of the Credit Agreement is hereby amended by inserting the
following Sections 4.26 and 4.27 at the end thereof:

          "4.26 FIRST LIEN CLAIMS. The Obligations constitute "First Lien
     Claims" under the Intercreditor Agreement.

          4.27 QUARTERLY FINANCIALS. The Company's quarterly financial
     statements for the quarterly period ended after September 30, 2005 were
     prepared in conformity with GAAP and fairly present in all material
     respects, the financial position, on a consolidated basis, of the Persons
     described in such financial statements as at the respective dates thereof
     and the results of operations and cash flows, on a consolidated basis, of
     the entities described therein for each of the periods then ended, subject
     to changes resulting from audit and normal year-end adjustments that
     individually or in the aggregate do not constitute or evidence a Material
     Adverse Effect."

19.4 Amendments to Section 5: Affirmative Covenants.

     (a) Section 5.1 of the Credit Agreement is hereby amended by deleting
clause "(l)" thereof in its entirety and substituting the following therefor:

"(l) Second Lien Credit Agreement.

               (i) Promptly upon execution and delivery thereof, copies of any
     amendment, restatement, supplement or other modification to or waiver of
     the Second Lien Credit Agreement entered into after Second Amendment
     Effective Date.

               (ii) Promptly upon any officer of Holdings or Company obtaining
     knowledge of any condition or

5

<PAGE>

     event that constitutes a default or an event of default under the Second
     Lien Credit Agreement, notice thereof."

19.5 Amendment to Section 6: Negative Covenants.

     (a) Section 6.1(b)(v) of the Credit Agreement is hereby amended by deleting
the reference to "6.7(m)" therein and substituting "6.7(o)" therefor.

     (b) Section 6.1 of the Credit Agreement is hereby amended by deleting
clause "(j)" in its entirety and substituting the following therefor:

          "(j) Indebtedness under Receivables Facilities in an aggregate
     outstanding Principal Amount not to exceed at any time the Dollar
     Equivalent of $35,000,000 minus the outstanding Principal Amount of
     obligations not constituting Indebtedness under any Receivables Facility;
     provided that no more than $5,000,000 of Indebtedness under such
     Receivables Facilities shall provide recourse to Company or any of its
     Subsidiaries other than customary provisions relating to the breach of
     representations by Company and/or its Subsidiaries;"

     (c) Section 6.1 of the Credit Agreement is hereby further amended by
substituting "$10,000,000" for "$5,000,000" in clause (o).

     (d) Section 6.1 of the Credit Agreement is hereby further amended by
deleting the "and" and the end of clause "(r)", deleting clause "(s)" in its
entirety and substituting the following therefor:

          "(s) (i) the Second Lien Term Loans in an aggregate principal amount
     not to exceed $75,000,000 or the Dollar Equivalent thereof, and (ii) any
     extensions, renewals, refinancings or replacements of the Second Lien Term
     Loans, provided, that (w) if secured, the Liens securing the same are
     subordinated on terms substantially equivalent to those set forth in the
     Intercreditor Agreement or on other terms reasonably satisfactory to the
     General Administrative Agent and Syndication Agent, (x) the other material
     terms and conditions thereof are not less favorable taken as a whole to the
     obligor thereon or to the Lenders than the Indebtedness being extended,
     renewed, refinanced or replaced, (y) the average life to maturity thereof
     is greater than or equal to that of the Indebtedness being extended,
     renewed, refinanced or replaced; and (z) shall not (A) include Indebtedness
     of an obligor that was not an obligor with respect to the Indebtedness
     being extended, renewed, refinanced or replaced, (B) exceed in a principal
     amount the Indebtedness being extended, renewed, refinanced or replaced or
     (C) be incurred, created or assumed if any Default or Event of Default has
     occurred and is continuing or would result therefrom; and"

     (e) Section 6.1 of the Credit Agreement is hereby further amended by
inserting the following clause (t) immediately following clause (s):

          "(t) Indebtedness of the Company consisting of unsecured guaranties of
     Indebtedness of Autocam Brazil permitted hereunder; provided that the
     principal amount guaranteed shall be deemed to constitute either
     Investments made under Section 6.7(d), or, at the Company's election,
     intercompany loans made to Autocam Brazil under Section 6.1(b)(iii)."

     (f) Section 6.2(r) of the Credit Agreement is hereby amended by deleting
clause "(r)" in its entirety and substituting the following therefor:

          "(r) Liens on the Collateral securing (i) the Second Lien Term Loans
     so long as the same are subordinated pursuant to the Intercreditor
     Agreement and (ii) Indebtedness permitted under Section 6.1(s) extending,
     renewing, refinancing or replacing the Second Lien Term Loans."

     (g) Section 6.4 of the Credit Agreement is hereby amended by deleting the
"and" immediately preceding clause (e) thereof and inserting the following as
clause (f) thereof:

"and (f) any such provision in the Second Lien Credit Agreement,"

     (h) Section 6.5 of the Credit Agreement is hereby amended by adding the
following clause (d) to the end thereof:

6

<PAGE>

"(d) Company (or any Guarantor Domestic Subsidiary or Autocam Europe) may make
the following payments in respect of the Second Lien Term Loans (and permitted
renewals, refinancings and replacements of the same): (i) scheduled payments of
interest, (ii) payments of principal, interest and fees made with the proceeds
of a refinancing permitted by Section 6.1(s), (iii) mandatory prepayments
required by the Second Lien Credit Agreement (so long as any required prepayment
of the Obligations has been made), and (iv) payments made with the portion of
proceeds from a capital contribution to, or the issuance of any Capital Stock
of, Parent that is not required to be applied to prepay the Obligations pursuant
to Section 2.14(c)."

     (i) Section 6.6 is hereby amended by replacing the phrase "Section 6.1(a),
(c), (i) or (m)" with the phrase "Section 6.1(a), (c), (i), (m) or (s)" and
inserting "6.1(l) and" immediately before the reference to "6.1(n)" contained
therein.

     (j) Section 6.7 is hereby amended by deleting the "and" at the end of
clause "(l)" thereof, relettering clause "(m)" as clause "(o)" and inserting the
following as clauses "(m)" and "(n)" therein:

          "(m) Investments made in Autocam Europe and/or the European Borrower
     with the proceeds of the Second Lien Term Loans, so as to permit the
     European Borrower to make the European Term Loan portion of the Required
     Application of Proceeds on or about the Second Amendment Effective Date;

          (n) Investments in the Chinese joint venture currently named Wuxi
     Weifu Autocam Precision Machinery Co., LTD. in an aggregate amount not to
     exceed $3,000,000 in the aggregate; provided that no less than 50% of such
     Investments shall be returned to the Company or any of its Guarantor
     Domestic Subsidiaries (including by way of technology transfer royalty
     payments or purchases of machine tools, or otherwise) within one year of
     the date such Investments are made; and"

     (k) Section 6.8(a) of the Credit Agreement is hereby amended by deleting it
in its entirety and substituting the following therefor:

          "(a) First Lien Leverage Ratio. Holdings shall not permit the First
     Lien Leverage Ratio as of the last day of any Fiscal Quarter, beginning
     with the Fiscal Quarter ending December 31, 2005, to exceed the correlative
     ratio indicated:

<TABLE>
<CAPTION>
FISCAL QUARTER ENDING                       FIRST LIEN LEVERAGE RATIO
---------------------                       -------------------------
<S>                                         <C>
December 31, 2005                                   3.00:1.00
March 31, 2006                                      3.00:1.00
June 30, 2006                                       3.00:1.00
September 30, 2006                                  3.00:1.00
December 31, 2006                                   3.00:1.00
March 31, 2007                                      3.00:1.00
June 30, 2007                                       3.00:1.00
September 30, 2007                                  3.00:1.00
December 31, 2007                                   2.50:1.00
March 31, 2008                                      2.50:1.00
June 30, 2008                                       2.50:1.00
September 30, 2008                                  2.50:1.00
December 31, 2008 and each Fiscal Quarter
thereafter                                          2.00:1.00
</TABLE>

"

     (l) The text of Section 6.8(b) is hereby deleted in its entirety and
replaced with "[Omitted]".

     (m) Section 6.8(c) is hereby amended by deleting it in its entirety and
substituting the following therefor:

7

<PAGE>

          "(c) Maximum Consolidated Capital Expenditures. Except to the extent
     funded with the proceeds of Additional Sponsor Equity or Indebtedness
     permitted under Section 6.1(l), Holdings shall not, and shall not permit
     its Subsidiaries to, make or incur Consolidated Capital Expenditures, in
     any Fiscal Year indicated below, in an aggregate amount for Holdings and
     its Subsidiaries in excess of the corresponding amount set forth below
     opposite such Fiscal Year (the "MAXIMUM CAPITAL EXPENDITURES AMOUNT");
     provided, the Maximum Capital Expenditures Amount (i) for any Fiscal Year
     shall be increased by an amount equal to the excess, if any, of the Maximum
     Capital Expenditures Amount for the previous Fiscal Year (as adjusted in
     accordance with this proviso) over the actual amount of Consolidated
     Capital Expenditures for such previous Fiscal Year (but in no event shall
     the amount of such increase exceed 50% of the Maximum Capital Expenditures
     Amount for such previous Fiscal Year), (ii) for any Fiscal Year commencing
     with the Company's Fiscal Year ending December 31, 2006, may be increased
     by the lesser of $2,000,000 or 50% of the pro forma EBITDA contribution
     from Permitted Acquisitions made after the Second Amendment Effective Date,
     (iii) for any Fiscal Year commencing with the Company's Fiscal Year ending
     December 31, 2006, shall be increased to $25,000,000 for such Fiscal Year
     if the First Lien Leverage Ratio as of December 31 of the previous Fiscal
     Year was less than 1.50 to 1.00, and (iv) for any Fiscal Year commencing
     with the Company's Fiscal Year ending December 31, 2008, shall be increased
     to $27,000,000 for such Fiscal Year if the First Lien Leverage Ratio as of
     December 31 of the previous Fiscal Year was less than 1.00 to 1.00.

<TABLE>
<CAPTION>
FISCAL YEAR                            CONSOLIDATED CAPITAL EXPENDITURES
-----------                            ---------------------------------
<S>                                    <C>
2005                                              $21,500,000
2006                                              $23,750,000
2007 and each Fiscal Year thereafter              $23,000,000
</TABLE>

"

     (n) Section 6.8(d) is hereby amended by deleting it in its entirety and
substituting the following therefor:

          "(d) Senior Leverage Ratio. Holdings shall not permit the Senior
     Leverage Ratio as of the last day of any Fiscal Quarter, beginning with the
     Fiscal Quarter ending December 31, 2005, to exceed the correlative ratio
     indicated:

<TABLE>
<CAPTION>
FISCAL QUARTER ENDING                       SENIOR LEVERAGE RATIO
---------------------                       ---------------------
<S>                                         <C>
December 31, 2005                                 5.00:1.00
March 31, 2006                                    5.00:1.00
June 30, 2006                                     5.00:1.00
September 30, 2006                                5.00:1.00
December 31, 2006                                 5.00:1.00
March 31, 2007                                    5.00:1.00
June 30, 2007                                     5.00:1.00
September 30, 2007                                5.00:1.00
December 31, 2007                                 4.50:1.00
March 31, 2008                                    4.50:1.00
June 30, 2008                                     4.50:1.00
September 30, 2008                                4.50:1.00
December 31, 2008 and each Fiscal Quarter
thereafter                                        4.00:1.00
</TABLE>

"

     (o) Section 6.14 of the Credit Agreement is hereby amended by deleting
clause "(a)" thereof in its entirety and substituting the following therefor:

          "(a) incur, directly or indirectly, any Indebtedness or any other
     obligation or liability whatsoever other than the Indebtedness and
     obligations under the Credit Documents, the Related Agreements and the
     Second Lien Credit Agreement (and any related Credit Documents as defined
     therein);"

8

<PAGE>

     (p) Section 6.14 of the Credit Agreement is hereby further amended by
deleting clause "(ii)" thereof in its entirety and substituting the following
therefor:

"(ii) performing its obligations and activities incidental thereto under the
Credit Documents, the Related Agreements and the Second Lien Credit Agreement
(and any related Credit Documents as defined therein);"

     (q) Section 6 of the Credit Agreement is hereby amended by inserting the
following Section 6.18 at the end thereof:

          "6.18. AMENDMENTS OR WAIVERS WITH RESPECT TO SECOND LIEN CREDIT
     AGREEMENT. Company shall not, nor shall it permit Holdings or any of its
     Subsidiaries to, amend or otherwise change the terms of the Second Lien
     Credit Agreement or any related document, or make any payment consistent
     with an amendment thereof or change thereto that is prohibited by the terms
     of the Intercreditor Agreement."

19.6 Amendments to Section 9 - Agents.

     (a) Section 9.8 of the Credit Agreement is hereby amended by deleting the
first sentence thereof and substituting the following therefor:

          "Each Lender hereby further authorizes Administrative Agents or
     Collateral Agent, as applicable, on behalf of and for the benefit of
     Lenders, to be agent for and representative of Lenders with respect to the
     Guaranty, the Intercreditor Agreement, the Collateral and the Collateral
     Documents and to execute and deliver on its behalf the Intercreditor
     Agreement and each of the Collateral Documents to which it is party."

     (b) Section 9 of the Credit Agreement is hereby amended by inserting the
following Section 9.10 at the end thereof:

          "9.10 USA PATRIOT ACT. Each Lender and Agent hereby notifies Company
     that pursuant to the requirements of the USA Patriot Act (Title III of Pub.
     L. 107-56 (signed into law October 26, 2001)) (the "PATRIOT ACT"), it is
     required to obtain, verify and record information that identifies Credit
     Parties, which information includes the name and address of each Credit
     Party and other information that will allow such Lender to identify such
     Credit Party in accordance with the Patriot Act."

19.7 Amendments to Section 10 - Miscellaneous.

     (a) Section 10.5(a) of the Credit Agreement is hereby amended by deleting
the last sentence thereof.

19.8 Amendment and Substitution of Exhibits. EXHIBIT C (FORM OF COMPLIANCE
CERTIFICATE) TO THE CREDIT AGREEMENT IS HEREBY AMENDED BY DELETING SAID EXHIBIT
C IN ITS ENTIRETY AND SUBSTITUTING IN PLACE THEREOF A NEW EXHIBIT C IN THE FORM
OF ANNEX A TO THIS SECOND AMENDMENT

19.9 Waiver. TO THE EXTENT THE INCURRENCE OF THE SECOND LIEN TERM LOANS WOULD
GIVE RISE TO A MANDATORY PREPAYMENT OF LOANS IN ACCORDANCE WITH SECTION 2.14(D)
OF THE CREDIT AGREEMENT, SUCH PREPAYMENT IS HEREBY WAIVED. THE APPLICABLE
PROVISIONS OF SECTION 2.15 OF THE CREDIT AGREEMENT ARE HEREBY WAIVED TO THE
EXTENT NECESSARY TO PERMIT 50% OF THE REQUIRED APPLICATION OF PROCEEDS TO BE
APPLIED TO REDUCE (AND IT IS HEREBY AGREED THAT SUCH AMOUNTS SHALL BE APPLIED TO
REDUCE) REMAINING INSTALLMENTS OF PRINCIPAL WITH RESPECT TO THE APPLICABLE TERM
LOANS IN FORWARD ORDER OF MATURITY. IN ADDITION, THE NOTICE AND MINIMUM
REDUCTION REQUIREMENTS OF SECTION 2.13(B) OF THE CREDIT AGREEMENT ARE HEREBY
WAIVED TO THE EXTENT NECESSARY TO PERMIT THE COMPANY TO REDUCE COMMITMENTS
CONCURRENTLY WITH THE SECOND AMENDMENT EFFECTIVE DATE.

SECTION 20. CREDIT PARTIES' REPRESENTATIONS AND WARRANTIES

In order to induce Lenders to enter into this Second Amendment, each Credit
Party represents and warrants to each Lender that the following statements are
true and correct:

               (1) each Credit Party has all requisite corporate power and
     authority to enter into this Second

9

<PAGE>

     Amendment and to carry out the transactions contemplated by, and perform
     its obligations under, the Credit Agreement as amended by this Second
     Amendment (the "AMENDED AGREEMENT");

               (2) the execution and delivery of this Second Amendment and the
     performance of the Amended Agreement have been duly authorized by all
     necessary corporate, and if required, stockholder, action on the part of
     each Credit Party;

               (3) the execution and delivery by each Credit Party of this
     Second Amendment and the performance by each Credit Party of the Amended
     Agreement do not and will not (i) violate the organizational documents of
     any Credit Party, (ii) violate any provision of any law or any governmental
     rule or regulation applicable to any Credit Party, or any order, judgment
     or decree of any court or other agency of government binding on any Credit
     Party, (iii) conflict with, result in a breach of or constitute (with due
     notice or lapse of time or both) a default under, or give rise to any right
     to accelerate or to require a prepayment, repurchase or redemption under
     any Contractual Obligation of any Credit Party, (iv) result in or require
     the creation or imposition of any Lien upon any of the properties or assets
     of any Credit Party (other than Liens created under any of the Credit
     Documents in favor of Collateral Agent on behalf of Lenders and other Liens
     permitted under the Amended Agreement), or (v) require any approval of
     stockholders or any approval or consent of any Person under any Contractual
     Obligation of any Credit Party or any of its Subsidiaries, except with
     respect to the foregoing clauses (ii), (iii) and (v) above, such
     violations, conflicts, breaches, defaults or failures to obtain approvals
     or consents which could not reasonably be expected to have, individually or
     in the aggregate, a Material Adverse Effect;

               (4) the execution and delivery by any Credit Party of this Second
     Amendment and the performance by any Credit Party of the Amended Agreement
     do not and will not require any registration with, consent or approval of,
     or notice to, or other action to, with or by, any federal, state or other
     governmental authority or regulatory body, except for registrations,
     consents, approvals, notices and other actions the failure to obtain or
     take have not and could not reasonably be expected to have, individually or
     in the aggregate, a Material Adverse Effect;

               (5) this Second Amendment and the Amended Agreement have been
     duly executed and delivered by each Credit Party and are the legally valid
     and binding obligations of each Credit Party, enforceable against such
     Credit Party in accordance with their respective terms, except as may be
     limited by bankruptcy, insolvency, reorganization, moratorium or similar
     laws relating to or limiting creditors' rights generally or by equitable
     principles relating to enforceability

               (6) after giving effect to Section 1 hereof, the representations
     and warranties contained in Section 4 of the Credit Agreement are and will
     be true and correct in all material respects on and as of the date hereof
     and the Second Amendment Effective Date (as defined below) to the same
     extent as though made on and as of such dates, except (i) to the extent
     such representations and warranties specifically relate to an earlier date,
     in which case they were true and correct in all material respects on and as
     of such earlier date, and (ii) the representation in Section 4.8 of the
     Credit Agreement shall be deemed to be made on the Second Amendment
     Effective Date with respect to the revised projections delivered to the
     Agents and the Lenders in connection with this Second Amendment; and

               (7) after giving effect to Section 1 hereof, no event has
     occurred and is continuing that would constitute an Event of Default or a
     Default.

SECTION 21. CONDITIONS TO EFFECTIVENESS

     Section 1 of this Second Amendment shall become effective only upon the
satisfaction of all of the following conditions precedent (the date of
satisfaction of such conditions being referred to herein as the "SECOND
AMENDMENT EFFECTIVE DATE"):

     (a) REPRESENTATIONS AND WARRANTIES. On the Second Amendment Effective Date,
(a) after giving effect to Section 1 hereof, the representations and warranties
contained in Section 2 hereof shall be true and correct as of such date, as
though made on and as of such date; (b) after giving effect to Section 1 hereof,
no Default or Event of Default shall then exist; and (c) the Company shall
deliver to General Administrative Agent a certificate signed by a responsible
officer of Company confirming the foregoing.

10

<PAGE>

     (b) CORPORATE DOCUMENTS. On or before the Second Amendment Effective Date,
each Credit Party that is a party to this Second Amendment shall have delivered
to Lenders (or to General Administrative Agent for Lenders with sufficient
originally executed copies, where appropriate, for each Lender and its counsel)
the following, each, unless otherwise noted, dated the Second Amendment
Effective Date:

               (1) An officer's certificate of such Credit Party certifying that
     organizational documents of such Credit Party as delivered to General
     Administrative Agent on the Closing Date, are in full force and effect and
     have not been amended or modified in any respect since the Closing Date;

               (2) Resolutions of its Board of Directors or other authorizing
     body or Person approving and authorizing the execution, delivery and
     performance of this Second Amendment, certified as of the Second Amendment
     Effective Date by its secretary or an assistant secretary as being in full
     force and effect without modification or amendment;

               (3) Signature and incumbency certificates of the officers of such
     Person executing this Second Amendment; and

               (4) Executed originals of this Second Amendment from Holdings,
     Company, European Borrower and each Credit Party.

     (c) LITIGATION. No action, suit, investigation, litigation or proceeding by
any entity (private or governmental) before any court, arbitration or
governmental authority shall be pending or, to the knowledge of Company,
threatened with respect to this Second Amendment, any other Credit Document, the
Second Lien Credit Agreement or any other documentation executed in connection
herewith or with respect to the transactions contemplated hereby, or which could
reasonably be expected to have a Material Adverse Effect.

     (d) COMPLETION OF PROCEEDINGS. All corporate and other proceedings taken or
to be taken in connection with the Second Amendment, the transactions
contemplated hereby and all documents incidental thereto not previously found
acceptable by General Administrative Agent, acting on behalf of Lenders,
Syndication Agent and their counsel shall be satisfactory in form and substance
to General Administrative Agent, Syndication Agent and such counsel, and General
Administrative Agent and such counsel shall have received all such counterpart
originals or certified copies of such documents as General Administrative Agent
may reasonably request.

     (e) FEES AND EXPENSES. Company shall have paid all reasonable out of pocket
expenses of Administrative Agents and Syndication Agent (including, without
limitation, the reasonable fees and disbursements of O'Melveny & Myers LLP and
Shearman & Sterling LLP) in connection with this Second Amendment and the
documents and transactions related hereto, and any fees separately agreed upon
among Company and Syndication Agent. On or before the Second Amendment Effective
Date, the General Administrative Agent shall have received payment, for the
account of each Lender that executes this Second Amendment on or before 5:00
p.m. Eastern Standard Time on December 14, 2005, of an amendment fee equal to
0.25% of the sum of such Lender's Revolving Exposure and the principal amount of
Term Loans held by such Lender on the Second Amendment Effective Date after
giving effect to the Required Application of Proceeds and the permanent
reduction of Revolving Commitments pursuant to Section 3(I) of this Second
Amendment.

     (f) REQUISITE LENDER APPROVAL. On or prior to the Second Amendment
Effective Date, the Requisite Lenders shall have executed and delivered
counterparts to this Second Amendment.

     (g) CLOSING AND FUNDING OF SECOND LIEN CREDIT AGREEMENT; MAKING OF REQUIRED
APPLICATION OF PROCEEDS.

(i) Company shall have received, on the Second Amendment Effective Date, gross
proceeds from the Second Lien Term Loans of at least $75,000,000 or the Dollar
Equivalent thereof and shall have made or will contemporaneously make the
Required Application of Proceeds; and

(ii) The General Administrative Agent and Syndication Agent shall have each
received a fully executed or conformed copy of the Second Lien Credit Agreement
and any documents executed in connection therewith. The Second Lien Credit
Agreement shall be in full force and effect, shall include terms and provisions
reasonably satisfactory to the Required Lenders and no provision thereof shall
have been modified or waived in any respect determined by Syndication Agent or
General Administrative

11

<PAGE>

Agent to be material, in each case without the consent of Syndication Agent and
General Administrative Agent.

     (h) REVOLVER OUTSTANDINGS. After giving effect to the application of the
proceeds of the Second Lien Term Loans, there shall be no Domestic Revolving
Loans or European Revolving Loans outstanding.

     (i) REVOLVER COMMITMENTS. The Company shall have permanently reduced the
Domestic Revolving Commitments by at least $7,220,000 and the European Borrower
shall have permanently reduced the European Revolving Loan Commitments by at
least E2,324,200, in each case pursuant to Section 2.13(b) of the Credit
Agreement.

     (j) INTERCREDITOR AGREEMENT. The Second Lien Collateral Agent, on behalf of
the lenders under the Second Lien Credit Agreement, shall have executed and
delivered the Intercreditor Agreement, reasonably satisfactory to the Required
Lenders.

SECTION 22. ACKNOWLEDGEMENT AND CONSENT

Each of Company, Holdings, European Borrower and each Guarantor (each
individually a "CREDIT SUPPORT PARTY" and collectively, the "CREDIT SUPPORT
PARTIES") has read this Second Amendment and consents to the terms hereof and
agrees that all references to the Credit Agreement in all Credit Documents shall
be deemed to mean the Credit Agreement as amended by this Second Amendment, and
each Credit Support Party further hereby confirms and agrees that the
obligations of such Credit Support Party under, and the Liens granted by such
Credit Support Party as collateral security for the indebtedness, obligations
and liabilities evidenced by the Credit Agreement and the other Credit Documents
pursuant to, each of the Credit Documents to which such Credit Support Party is
a party shall not be impaired by the effectiveness of this Second Amendment and
each of the Credit Documents to which such Credit Support Party is a party is,
and shall continue to be, in full force and effect and are hereby confirmed and
ratified in all respects.

SECTION 23. MISCELLANEOUS

     (a) REFERENCE TO AND EFFECT ON THE CREDIT AGREEMENT AND THE OTHER CREDIT
DOCUMENTS.

          (i) On and after the effective date of this Second Amendment, each
reference in the Credit Agreement to "this Agreement", "hereunder", "hereof",
"herein" or words of like import referring to the Credit Agreement and each
reference in the other Credit Documents to the "Credit Agreement", "thereunder",
"thereof" or words of like import referring to the Credit Agreement shall mean
and be a reference to the Credit Agreement as amended hereby.

          (ii) Each reference in other Credit Documents to defined terms in the
Credit Agreement shall be to the defined terms in the Credit Agreement as
amended hereby.

          (iii) Except as specifically amended by this Second Amendment, the
Credit Agreement and the other Credit Documents shall remain in full force and
effect and are hereby ratified and confirmed.

          (iv) The execution, delivery and performance of this Second Amendment
shall not, except as expressly provided herein, constitute a waiver of any
provision of, or operate as a waiver of any right, power or remedy of any
Administrative Agent or any Lender under the Credit Agreement or any of the
other Credit Documents.

     (b) FEES AND EXPENSES. Company acknowledges that all costs, fees and
expenses as described in Section 10.2 of the Credit Agreement incurred by Agents
and their counsel with respect to this Second Amendment and the documents and
transactions contemplated hereby shall be for the account of Company.

     (c) HEADINGS. Section headings in this Second Amendment are included herein
for convenience of reference only and shall not constitute a part of this Second
Amendment for any other purpose or be given any substantive effect.

     (d) APPLICABLE LAW. THIS SECOND AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF
THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING
WITHOUT LIMITATION SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF
NEW YORK), WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES.

12

<PAGE>

     (e) COUNTERPARTS. This Second Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed and delivered shall be deemed an original, but all such
counterparts together shall constitute but one and the same instrument;
signature pages may be detached from multiple separate counterparts and attached
to a single counterpart so that all signature pages are physically attached to
the same document.

                [Remainder of this page intentionally left blank]

13

<PAGE>

IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to be
duly executed and delivered by their respective officers thereunto duly
authorized as of the date first written above.

                                        AUTOCAM CORPORATION

                                        By: /s/ Warren A Veltman
                                            ------------------------------------
                                        Name: Warren A. Veltman
                                        Title: Treasurer and Secretary

                                        AUTOCAM FRANCE, SARL

                                        By: /s/ John C. Kennedy
                                            ------------------------------------
                                        Name: John C. Kennedy
                                        Title: Co-Manager

                                        TITAN HOLDINGS, INC.
                                        AUTOCAM-PAX, INC.
                                        AUTOCAM SOUTH CAROLINA, INC.
                                        AUTOCAM GREENVILLE, INC.
                                        AUTOCAM ACQUISITION, INC.
                                        AUTOCAM LASER TECHNOLOGIES , INC.
                                        AUTOCAM-HAR, INC.
                                        AUTOCAM INTERNATIONAL, LTD.
                                        AUTOCAM INTERNATIONAL SALES CORPORATION

                                        By: /s/ Warren A. Veltman
                                            ------------------------------------
                                        Name: Warren A. Veltman
                                        Title: Treasurer and Secretary

S-5

<PAGE>

                                        AUTOCAM EUROPE B.V.

                                        BY: AUTOCAM CORPORATION, AS MANAGING
                                            DIRECTOR

                                        By: /s/ Warren A. Veltman
                                            ------------------------------------
                                        Name: Warren A. Veltman
                                        Title: Treasurer and Secretary

S-2

<PAGE>

                                        GOLDMAN SACHS CREDIT PARTNERS L.P.,

                                        as Syndication Agent and a Lender

                                        By: Authorized Signatory
                                            ------------------------------------

S-3

<PAGE>

                                        CITICORP NORTH AMERICA, INC.,

                                        as General Administrative Agent,
                                        Collateral Agent, and a Lender

                                        By: /s/ Suzanne Crymes
                                            ------------------------------------
                                        Name: Suzanne Crymes
                                        Title: Vice President

S-4

<PAGE>

                                        CITIBANK INTERNATIONAL PLC,

                                        as European Administrative Agent

                                        By: /s/ Olu Dada
                                            ------------------------------------
                                        Name: Olu Dada
                                        Title: Facility Agent

S-5

<PAGE>

                                     ANNEX A

                         FORM OF COMPLIANCE CERTIFICATE

THE UNDERSIGNED HEREBY CERTIFIES AS FOLLOWS:

     1. I am the Chief Financial Officer of each of TITAN HOLDINGS, INC.
("HOLDINGS") and AUTOCAM CORPORATION ("COMPANY").

     2. I have reviewed the terms of that certain Credit and Guaranty Agreement,
dated as of June 21, 2004 (as it may be amended, supplemented or otherwise
modified, the "CREDIT AGREEMENT"; the terms defined therein and not otherwise
defined herein being used herein as therein defined), by and among AUTOCAM
CORPORATION, AUTOCAM FRANCE, SARL, TITAN HOLDINGS, INC., certain Subsidiaries of
Company, as Guarantors, the Lenders party thereto from time to time, GOLDMAN
SACHS CREDIT PARTNERS L.P. ("GSCP") and CITIGROUP GLOBAL MARKETS, INC., as Joint
Lead Arrangers and Joint Book Runners, GSCP, as Syndication Agent, CITICORP
NORTH AMERICA, INC., as General Administrative Agent and as Collateral Agent,
CITIBANK INTERNATIONAL PLC, as European Administrative Agent, and BANK ONE, NA,
ING CAPITAL, LLC and NATIONAL CITY BANK, as Documentation Agents, and I have
made, or have caused to be made under my supervision, a review in reasonable
detail of the transactions and condition of the Holdings and its Subsidiaries
during the accounting period covered by the attached financial statements.

     3. The examination described in paragraph 2 above did not disclose, and I
have no knowledge of, the existence of any condition or event which constitutes
an Event of Default or Default during or at the end of the accounting period
covered by the attached financial statements or as of the date of this
Certificate, except as set forth in a separate attachment, if any, to this
Certificate, describing in detail, the nature of the condition or event, the
period during which it has existed and the action which the Borrowers have
taken, are taking, or propose to take with respect to each such condition or
event.

The foregoing certifications, together with the computations set forth in the
Annex A hereto and the financial statements delivered with this Certificate in
support hereof, are made and delivered [MM/DD/YY] pursuant to Section 5.1(d) of
the Credit Agreement.

                                        TITAN HOLDINGS, INC.
                                        AUTOCAM CORPORATION

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title: Chief Financial Officer

A-1

<PAGE>

                                                                      ANNEX A TO
                                                          COMPLIANCE CERTIFICATE

               FOR THE FISCAL [QUARTER] [YEAR] ENDING [MM/DD/YY].

<TABLE>
<S>                                                                    <C>
1.  Consolidated Adjusted EBITDA: (I) - (II) =                         $[___,___,___]

    (i)  (a)   Consolidated Net Income:                                $[___,___,___]

         (b)   Consolidated Interest Expense:                          $[___,___,___]

         (c)   provisions for taxes based on income:                   $[___,___,___]

         (d)   total depreciation expense:                             $[___,___,___]

         (e)   total amortization expense:                             $[___,___,___]

         (f)   to the extent reducing Consolidated Net Income:

               (I)   net extraordinary losses:                         $[___,___,___]

               (II)  (A) other unusual or non recurring expenses[(1)]: $[___,___,___]

                     (B) French Restructuring Costs[(2)]:              $[___,___,___]

               (III)  Franklin Park Lease Termination Charges[(3)]:    $[___,___,___]

               (IV)  Insurance Termination Charges[(4)]:               $[___,___,___]

               (V)   charges allocated with the write-off of
                     unamortized financing fees and related costs
                     arising in connection with the repayment of the
                     Term Loans in accordance with the Required
                     Application of Proceeds on or about the Second
                     Amendment Effective Date:                         $[___,___,___]

               (VI)  Second Lien Transaction Costs paid or which
                     became due and payable in cash by Company and its
                     Subsidiaries on or about the Second Amendment
                     Effective Date:                                   $[___,___,___]

         (g)   other non Cash items reducing Consolidated Net
               Income[(5)]:                                            $[___,___,___]
</TABLE>

----------
[(1)] Not to exceed $10,000,000 in the aggregate from the Closing Date to the
     current period.

[(2)] Not to exceed $15,000,000 in the aggregate from the Closing Date to the
     current period and the aggregate of (A) and (B), not to exceed $15,000,000
     in any 12 month period.

[(3)] Not to exceed $2,000,000 in the aggregate from the Closing Date to the
     current period.

[(4)] Not to exceed $2,500,000 in the aggregate from the Closing Date to the
     current period.

[(5)] Including whether or not includible as a separate item in the statement of
     Consolidated Net Income, non-Cash losses on sales of assets outside the
     ordinary course of business or

A-2

<PAGE>

<TABLE>
<S>                                                                    <C>
    (ii) (a)   income or gains that are extraordinary, unusual or
               non-recurring[(6)]:                                     $[___,___,___]

         (b)   other non cash items increasing Consolidated Net
               Income[(7)]:                                            $[___,___,___]

2.  Consolidated Capital Expenditures:                                 $[___,___,___]

3.  Consolidated Cash Interest Expense:                                $[___,___,___]

4.  Consolidated Current Assets:                                       $[___,___,___]

5.  Consolidated Current Liabilities:                                  $[___,___,___]

6.  Consolidated Excess Cash Flow: (I) - (II) =                        $[___,___,___]

    (i)  (a)   Consolidated Adjusted EBITDA:                           $[___,___,___]

         (b)   Consolidated Working Capital Adjustment                 $[___,___,___]

    (ii) (a)   voluntary and scheduled repayments of Consolidated
               Total Debt[(8)]:                                        $[___,___,___]

         (b)   (x) Consolidated Capital Expenditures[(9)]:             $[___,___,___]

               (y) Permitted Acquisition Expenses[(10)]:               $[___,___,___]

         (c)   Consolidated Cash Interest Expense                      $[___,___,___]
</TABLE>

----------
returned surplus assets of any Pension Plan but excluding any such non-Cash item
to the extent that it represents an accrual or reserve for potential Cash items
in any future period or amortization of a prepaid Cash item that was paid in a
prior period.

[(6)] Including whether or not includible as a separate item in the statement of
     Consolidated Net Income, gains on sales of assets outside the ordinary
     course of business or returned surplus assets of any Pension Plan

[(7)] Excluding any such non-Cash item to the extent that it represents the
     reversal of an accrual or reserve for potential Cash items in any future
     period or amortization of a prepaid Cash item that was paid in a prior
     period.

[(8)] Excluding (i) repayments of Revolving Loans or Swing Line Loans except to
     the extent the Revolving Credit Commitments are permanently reduced in
     connection with such repayments and (ii) repurchases of Term Loans made
     pursuant to Section 2.13(c).

[(9)] Except to the extent financed with the proceeds of Additional Sponsor
     Equity, other financings, insurance proceeds or Asset Sales.

[(10)] Excluding Permitted Acquisition Expenses paid in respect of Cash or Cash
     Equivalents of an acquired Person, and except to the extent financed with
     the proceeds of other financings, insurance proceeds or Asset Sales.

A-3

<PAGE>

<TABLE>
<S>                                                                    <C>
         (d)   the provision for current taxes based on income of
               Holdings and its Subsidiaries and payable in cash with
               respect to such period:                                 $[___,___,___]

         (e)   amounts paid pursuant to [Section 6.5(b) and (c)]:      $[___,___,___]

         (f)   the sum of the amounts described in 1(f)(I) and 1(f)
               (II) above that are payable in Cash by Holdings and
               Company with respect to such period:                    $[___,___,___]

7.  Consolidated Interest Expense:                                     $[___,___,___]

8.  Consolidated Net Income: (I) - (II) =                              $[___,___,___]

    (i)  the net income (or loss) of Holdings and its Subsidiaries on
         a consolidated basis for such period taken as a single
         accounting period determined in conformity with GAAP:         $[___,___,___]

    (ii) (a)   the income of any Person (other than a Subsidiary of
               Holdings) in which any other Person (other than
               Holdings or any of its Subsidiaries) has a joint
               interest, except to the extent of the amount of
               dividends or other distributions actually paid to
               Holdings or any of its Subsidiaries by such Person:     $[___,___,___]

         (b)   the income (or loss) of any Person accrued prior to the
               date it becomes a Subsidiary of Holdings or is merged
               into or consolidated with Holdings or any of its
               Subsidiaries or that Person's assets are acquired by
               Holdings or any of its Subsidiaries[(11)]:              $[___,___,___]

         (c)   the undistributed income of any Subsidiary of Holdings
               to the extent that the declaration or payment of
               dividends or similar distributions by that Subsidiary
               of that income is not at the time permitted by
               operation of the terms of its charter or any agreement,
               instrument, judgment, decree, order, statute, rule or
               governmental regulation applicable to that Subsidiary:  $[___,___,___]

9.  Consolidated Total Debt[(12)]:                                     $[___,___,___]
</TABLE>

----------
[(11)] Except as provided in Section 6.8(d).

[(12)] For the purposes of the calculation in Section 13 hereof, any portion of
     Consolidated Total Debt that is denominated in Euros shall be converted
     into Dollars by applying the exchange rate used by the Company in
     calculating Consolidated Net Income for the preparation of the financial
     statements delivered to the Lenders under the Credit Agreement for the
     applicable period.

A-4

<PAGE>

<TABLE>
<S>                                                                    <C>
10. Consolidated Working Capital: (I) - (II) =                         $[___,___,___]

    (i)  Consolidated Current Assets:                                  $[___,___,___]

    (ii) Consolidated Current Liabilities:                             $[___,___,___]

11. Consolidated Working Capital Adjustment[(13)]: (I) - (II) =        $[___,___,___]

    (i)  Consolidated Working Capital as of the beginning of such
         period:                                                       $[___,___,___]

    (ii) Consolidated Working Capital as of the end of such
         period:                                                       $[___,___,___]

12. First Lien Leverage Ratio: (I)/(II) =                              $[___,___,___]

    (i)  Consolidated Senior Debt minus the principal amount of Second
         Lien Term Loans outstanding as of the date of determination
         minus the amount of Term Loans repaid with the proceeds of
         Additional Sponsor Equity during the 45-day period following
         the date of determination:                                    $[___,___,___]

    (ii) Consolidated Adjusted EBITDA for the four-Fiscal Quarter
         period then ended:                                            $[___,___,___]

                                                             Actual:   _.__:1.00
                                                             Required: _.__:1.00

13. Leverage Ratio[14]: (I)/(II) =

    (i)  Consolidated Total Debt                                       $[___,___,___]

    (ii) Consolidated Adjusted EBITDA for the four Fiscal Quarter
         period then ended:                                            $[___,___,___]

14. Maximum Consolidated Capital Expenditures:

                                                               Actual: $[___,___,___]
                                                             Required: $[___,___,___]

         plus, the excess, if any, over the actual amount of
         Consolidated Capital Expenditures for such previous Fiscal
         Year (but in no event more than 50% of such amount for the
         previous Fiscal Year, as adjusted in accordance with this
         proviso):                                                     $[___,___,___]
</TABLE>

----------
[(13)] For the purposes of this calculation, the Net Current Assets of any
     Subsidiary acquired in a Permitted Acquisition during such period,
     determined at the time of such acquisition, should be excluded.

[(14)] For the purposes of determining "Applicable Margin" and mandatory
     prepayments pursuant to Sections 2.14(c) and (e).

A-5

<PAGE>

<TABLE>
<S>                                                                    <C>
15. Senior Leverage Ratio: (I)/(II) =

    (i)  Consolidated Senior Debt as of the date of determination
         minus the amount of Consolidated Senior Debt repaid with the
         proceeds of Additional Sponsor Equity during the 45-day
         period following the date of determination:                   $[___,___,___]

    (ii) Consolidated Adjusted EBITDA for the four Fiscal Quarter
         period then ended:                                            $[___,___,___]

                                                               Actual: _.__:1.00
                                                             Required: _.__:1.00
</TABLE>

A-6

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