Document:

<PAGE>

                    ASSUMPTION AND INDEMNIFICATION AGREEMENT

         THIS AGREEMENT is made as of May 1, 1984 between Masco Corporation, a
Delaware corporation ("Masco") and Masco Industries, Inc., a Delaware
corporation ("Industries"), pursuant to that certain Masco Corporation Corporate
Restructuring Plan, dated as of May 1, 1984 (the "Plan").

         WHEREAS, pursuant to the Plan, Masco has transferred to Industries
certain assets, and Industries is required to assume the liabilities pertaining
thereto.

         NOW, THEREFORE, in consideration of such transfer and for other good
and valuable consideration, the parties agree as follows:

         1. Industries hereby agrees to assume, pay, perform, satisfy and
discharge, when due, all of the obligations, liabilities and commitments of
Masco and any of its subsidiaries arising out of or relating to any of the
"Industries Assets" (as defined in the Plan) or any subsidiary directly or
indirectly owned by a corporation included within the Industries Assets, as a
result of any event, transaction, state of facts or occurrence existing or
occurring on or prior to the "Transfer Date" (as defined in the Plan), whether
such obligation, liability or commitment is known or unknown or fixed or
contingent, and whether or not accrued or otherwise in existence at the Transfer
Date. The obligations, liabilities and commitments assumed hereby include,
without limitation, those:

              (i) Of Masco or any of its subsidiaries arising out of or relating
         to the operation of the businesses included within the Industries
         Assets, including all accounts payable incurred by Masco or any of its
         subsidiaries in respect of such businesses and all Federal income taxes
         on income earned by such businesses through April 30, 1984;

              (ii) Of Masco or any of its subsidiaries to their respective
         former employees who become Industries' or its subsidiaries' employees
         as of the Transfer Date, including liabilities for accrued salaries and
         payroll deductions, obligations to employees under collective
         bargaining agreements and obligations under vacation, pension and other
         retirement, health, life insurance and benefit plans and under
         applicable workers' and unemployment compensation laws;

              (iii) Of Masco or any of its subsidiaries existing with respect to
         contracts (including leases) arising out of or relating to the
         operation of the Industries Assets or any subsidiary directly or
         indirectly owned by a corporation included within the Industries
         Assets, to which Masco or any of its subsidiaries is a party and which
         Masco or any of its subsidiaries is assigning to Industries as of the
         Transfer Date;

              (iv) Of Masco or any of its subsidiaries or their respective
         officers, Directors or employees consisting of claims and litigation
         including product liability, warranty and other claims of whatever
         nature, whether or not pending, threatened or otherwise in existence as
         of the Transfer Date arising out of or relating to any of the
         Industries Assets or any subsidiary directly or indirectly owned by a
         corporation included within the Industries Assets; and

              (v) Of Industries and its subsidiaries reflected in the pro forma
         balance sheet of Industries as at March 31, 1984 a copy of which is
         attached as Exhibit 1.03(iii) to the Plan subject to such changes, if
         any, as have occurred subsequent to such date in the ordinary course of
         business (and including accrued interest of Industries on the
         Subordinated Debentures, as defined in the Plan, from January 1, 1984
         to the Transfer Date notwithstanding the fact that such liability did
         not exist prior thereto).

         2. Notwithstanding the provisions of Section I hereof, the following
obligations, liabilities and commitments of Masco and its subsidiaries arising
out of or relating to the Industries Assets or subsidiaries directly or
indirectly owned by a corporation included within the Industries Assets are not
being assumed by Industries but shall remain with Masco:

<PAGE>

         (i) Those under the Masco 1971 and 1975 Stock Option Plans, the Masco
Restricted Stock Incentive Plan and the Masco Restricted Stock (Industries)
Incentive Plan (excluding unamortized cost of non-vested shares issued pursuant
to either of these incentive plans which, pursuant to the Plan, is to be
transferred to Industries), provided, however, that for purposes of Section 422A
of the Internal Revenue Code, Industries hereby assumes the outstanding
incentive stock options issued under the Masco 1975 Stock Option Plan which are
held by employees of Masco or its subsidiaries who become solely employees of
Industries or its subsidiaries as of the Transfer Date, which assumption shall
be satisfied by delivering Masco shares received from Masco upon such a stock
option exercise to the person exercising such option, and remitting option
proceeds received therefor to Masco;

              (ii) Those under the Masco Corporation Salaried Employees' Pension
         Plan to persons who, as of the Transfer Date, are retired former
         employees of businesses included within the Industries Assets; and

              (iii) Those owing by Masco to the former stockholders of Arrow
         Specialty Company and Arrow Oil Tools, Inc. for the purchase by Masco
         of such corporations.

         3. From and after the Transfer Date the Industries Assets shall be
deemed operated for the benefit of Industries and its subsidiaries and,
accordingly, all liabilities, obligations and commitments of Masco or any of its
subsidiaries arising out of or relating to the Industries Assets after the
Transfer Date shall be the sole responsibility of Industries and its
subsidiaries.

         4. Industries shall indemnify, defend and hold harmless Masco and its
subsidiaries, and their respective officers, Directors, employees and
shareholders from, against and with respect to any claim, liability, obligation,
loss, damage, assessment, judgment, cost and expense (including, without
limitation, reasonable attorney's fees and costs and expenses reasonably
incurred in investigating, preparing, defending against or prosecuting any
litigation or claim, action, suit, proceeding or demand), of any kind or
character, arising out of or in any manner incident, relating or attributable to
any actual or alleged failure of Industries to pay, perform, satisfy and
discharge, when due, the obligations, liabilities and commitments of Masco and
its subsidiaries assumed by Industries hereunder.

         5. Masco shall give Industries prompt notice of any claim for which
indemnification may be sought hereunder. Except for claims relating to income
taxes, Industries shall at its own expense assume the defense of such claims
with counsel of its choice; provided, however, that Industries shall not be
entitled to settle any claim without the prior consent of Masco if at the time
Masco then owns 20 percent or more of Industries Common Stock (as defined in the
Plan), which consent shall not be unreasonably withheld. Masco shall have the
right to employ its own counsel in any such case, but the fees and expenses of
such counsel shall be at Masco's expense. If Masco shall have reasonably
concluded that there may be defenses available to it which are not available to
Industries, Industries shall not have the right to assert such different or
additional defenses on behalf of Masco and the fees and expenses of Masco's own
counsel shall be borne by Industries.

         6. Masco shall have the right to control the defense of any claim
relating to income taxes for which indemnification may be sought hereunder
(whether pending on the Transfer Date or asserted thereafter), provided that
Masco shall keep Industries apprised on the status thereof Masco shall not be
entitled to settle any such action without the prior consent of Industries,
which consent shall not be unreasonably withheld. If any such income tax claim
results in a determination that an amount previously deducted by Masco was not
an allowable deduction at the time, but would be at a later time an allowable
deduction by Industries, Industries shall be obligated to indemnify Masco for
the entire amount of additional income tax liability related thereto plus
interest assessed thereon against Masco and such indemnification shall not be
diminished in any way on account of any reserves for income taxes established on
the books of Masco.

<PAGE>

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date and year first above written.

MASCO CORPORATION                      MASCO INDUSTRIES, INC.

By /s/ Wayne B. Lyon                   By /s/ Richard A. Manoogian
   ------------------                     ------------------------
   Executive Vice President               President<PAGE>

                                                                  Execution Copy

                        AMENDMENT No. 1 dated as of December 15, 2000 (this
                   "Amendment"), to the Receivables Transfer Agreement referred
                   to below among MTSPC, INC.,(the "Transferor"), MASCOTECH,
                   INC. (the "Parent"), individually, as Collection Agent and as
                   Guarantor, PARK AVENUE RECEIVABLES CORPORATION ("PARCO"), and
                   EIFFEL FUNDING, LLC ("Eiffel") (collectively, the "CP Conduit
                   Purchasers"), THE CHASE MANHATTAN BANK, as Committed
                   Purchaser and Funding Agent for PARCO ("Chase"), CDC
                   FINANCIAL PRODUCTS INC., as Committed Purchaser and Funding
                   Agent for Eiffel ("CDC") (collectively, the "Committed
                   Purchasers"), and THE CHASE MANHATTAN BANK, as Administrative
                   Agent.

         A. The Transferor, the Collection Agent, the Guarantor, PARCO, Chase
and the Administrative Agent have entered into a Receivables Transfer Agreement
dated as of November 28, 2000 (the "Receivables Transfer Agreement").

         B. The Transferor has asked to amend certain terms of the Receivables
Transfer Agreement and to add Eiffel as a CP Conduit Purchaser and CDC as the
Committed Purchaser and Funding Agent for Eiffel, and the Transferor, the
Collection Agent, the Guarantor, PARCO and Chase are willing, on the terms and
subject to the conditions set forth below, to amend the Receivables Transfer
Agreement as provided herein.

         C. In connection with the addition of Simpson Industries, Inc.
("Simpson") as a Seller party to the Receivables Purchase Agreement, the
Transferor has requested an increase in the Facility Limit from $175,000,000 to
$225,000,000 and an increase in the Aggregate Commitment from $178,500,000 to
$229,500,000.

         D. Capitalized terms used and not otherwise defined herein shall have
the meanings assigned to them in the Receivables Transfer Agreement.

<PAGE>

                                                                               2

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

         SECTION 1. Schedule A of the Receivables Transfer Agreement. (a) The
definition of "CP Conduit Purchaser's Termination Event" with respect to Eiffel
shall mean:

         "Any Program Support Provider of Eiffel has given notice that an event
    of termination or event of default has occurred and is continuing under its
    agreement with Eiffel."

         (b) The proviso at the end of the definition of "CP Rate" is hereby
amended to read in its entirety as follows:

         "provided, that to the extent that such CP Tranche is funded by a
    specific issuance of such Pooled Funding CP Conduit Purchaser's Commercial
    Paper, the "CP Rate" may, in such Pooled Funding CP Conduit Purchaser's sole
    discretion, equal the rate or weighted average of the rates applicable to
    such issuance."

         (c) The definition of "Net Receivables Balance" is hereby amended to
read in its entirety as follows:

         "Net Receivables Balance" shall mean, at any time, the aggregate
    Outstanding Balance of the Eligible Receivables at such time, as reduced by
    the aggregate amount for all Designated Obligors by which the Outstanding
    Balance of all Eligible Receivables of each Designated Obligor exceeds the
    product of the Concentration Factor for such Designated Obligor multiplied
    by the Outstanding Balance of all Eligible Receivables.

         SECTION 2. Amendments to Schedule B of the Receivables Transfer
Agreement. Schedule B of the Receivables Transfer Agreement is hereby amended to
read in its entirety as set forth in Schedule B attached to this Amendment.
Schedule B is hereby amended to add Eiffel as a CP Conduit Purchaser and CDC as
the Committed Purchaser and Funding Agent for Eiffel. From and after the
Effective Date (as hereinafter defined) the "CP Conduit Funding Limit" of each
CP Conduit Purchaser and the "Commitment" of

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                                                                               3

each Committed Purchaser shall be as specified on Schedule B attached hereto.

         Eiffel hereby agrees to become a CP Conduit Purchaser and CDC hereby
agrees to become the Committed Purchaser and Funding Agent for Eiffel.

         SECTION 3. Further Amendments to the Receivables Transfer Agreement.
(a) Amendment to Section 2.03. Section 2.03 of the Receivables Transfer
Agreement is hereby amended by adding the following new subsection (e) at the
end of such Section:

         "(e) Transfer of Transferred Interest to Certain Program Support
    Providers. If any Pooled Funding CP Conduit Purchaser assigns, participates
    or otherwise transfers any portion of the Transferred Interest to a Program
    Support Provider who is not a Committed Purchaser, such portion of the
    Transferred Interest shall be treated as a Eurodollar Tranche unless the
    applicable Tranche Rate would, without regard to this Section 2.03(e), be
    calculated by reference to the Base Rate."

         (b) Amendment to Section 10.06. Section 10.06 of the Receivables
Transfer Agreement is hereby amended by adding the following sentence at the end
of Section 10.06(a):

    "Each CP Conduit Purchaser may assign, participate, grant security interests
    in or otherwise transfer all or any portion of the Transferred Interest to
    any Program Support Provider with respect to such CP Conduit Purchaser
    without prior notice to or consent from any other party or any other
    condition or restriction of any kind."

         SECTION 4. Representations and Warranties. Each of the Transferor and
the Parent, individually, as Collection Agent and as Guarantor, hereby
represents and warrants to the Administrative Agent, the Funding Agents, the CP
Conduit Purchasers and the Committed Purchasers, on and as of the date hereof,
and after giving effect to this Amendment, that:

         (a) This Amendment has been duly executed and delivered by it and
    constitutes its legal, valid and binding obligation enforceable against it
    in accordance with its terms.

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                                                                               4

         (b) The representations and warranties set forth in Article III of the
    Receivables Transfer Agreement are true and correct in all material respects
    on and as of the date hereof with the same effect as though made on and as
    of the date hereof, except to the extent such representations and warranties
    expressly relate to an earlier date.

         (c) No Termination Event or Potential Termination Event has occurred
    and is continuing.

         SECTION 5. Effectiveness. This Amendment shall become effective on the
first date (the "Effective Date") on which each of the following conditions
shall have been satisfied:

         (a) the Administrative Agent shall have received duly executed
    counterparts of this Amendment signed by the Transferor, the Parent, the
    Collection Agent, the Guarantor, PARCO, Eiffel, Chase, CDC and the
    Administrative Agent;

         (b) The Administrative Agent shall have received a certificate, dated
    the Effective Date and signed by an authorized officer of the Transferor,
    confirming the representations and warranties set forth in paragraphs (b)
    and (c) of Section 4;

         (c) The Administrative Agent shall have received an opinion of counsel
to the Transferor and the Parent addressed to the Administrative Agent, the CP
Conduit Purchasers, the Committed Purchasers and the Funding Agents, to the
effect set forth in Section 4(a); and

         (d) All the conditions precedent to the addition of Simpson as a Seller
    specified in Section 7.02 of the Receivables Purchase Agreement shall have
    been satisfied.

         SECTION 6. Governing Law. THIS AMENDMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.

         SECTION 7. Expenses. The Transferor shall pay all out-of-pocket fees
and expenses incurred by the Administrative Agent in connection with the
preparation, negotiation, execution and delivery of this Amendment, including
the fees, disbursements and other charges of Cravath, Swaine & Moore, counsel
for the Administrative Agent.

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                                                                               5

         SECTION 8. Counterparts. This Amendment may be executed in any number
of counterparts, each of which shall be an original but all of which, when taken
together, shall constitute but one instrument. Delivery of an executed
counterpart of a signature page of this Amendment by fax shall be as effective
as delivery of a manually executed counterpart of this Amendment.

         SECTION 9. Headings. Section headings used herein are for convenience
of reference only, are not part of this Amendment and are not to affect the
construction of, or to be taken into consideration in interpreting, this
Amendment.

         SECTION 10. Effect of Amendment. Except as specifically amended or
modified hereby, the Receivables Transfer Agreement shall continue in full force
and effect in accordance with the provisions thereof. As used therein, the terms
"Agreement", "herein", "hereunder", "hereinafter", "hereto", "hereof" and words
of similar import shall, unless the context otherwise requires, refer to the
Receivables Transfer Agreement as amended hereby.

<PAGE>

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

                                       MTSPC, INC., as
                                         Transferor

                                       by /s/ David B. Liner
                                          -------------------------------
                                          Name:  David B. Liner
                                          Title: Secretary

                                       MASCOTECH, INC.,
                                         individually, as
                                         Collection Agent and as
                                         Guarantor

                                       by /s/ David B. Liner
                                          --------------------------------
                                          Name:  David B. Liner
                                          Title: Vice President

<PAGE>

                                       PARK AVENUE RECEIVABLES CORPORATION, as
                                         CP Conduit Purchaser

                                       by /s/ Kevin P. Burns
                                          --------------------------------
                                          Name:  Kevin P. Burns
                                          Title: Vice President

                                       THE CHASE MANHATTAN BANK, as
                                         Committed Purchaser for
                                         Park Avenue Receivables Corporation,

                                       by /s/ Bradley S. Schwartz
                                          --------------------------------
                                          Name:  Bradley S. Schwartz
                                          Title: Managing Director

                                       THE CHASE MANHATTAN BANK, as
                                         Funding Agent for Park
                                         Avenue Receivables Corporation,

                                       by /s/ Lara Graff
                                          --------------------------------
                                          Name:  Lara Graff
                                          Title: Vice President

                                       THE CHASE MANHATTAN BANK, as
                                       Administrative Agent,

                                       by /s/ Lara Graff
                                          --------------------------------
                                          Name:  Lara Graff
                                          Title: Vice President

<PAGE>

                                       EIFFEL FUNDING LLC,
                                         as CP Conduit Purchaser
                                       by Global Securitization
                                         Services, LLC, its Manager

                                       by /s/ Bernard J. Angelo
                                          --------------------------------
                                          Name:  Bernard J. Angelo
                                          Title: Vice President

                                       CDC FINANCIAL PRODUCTS INC., as
                                         Committed Purchaser for Eiffel
                                         Funding, LLC

                                       by /s/ N. Mumford
                                          --------------------------------
                                          Name:  N. Mumford
                                          Title: Managing Director

                                       by /s/ Ramine Rouhani
                                          --------------------------------
                                          Name:  Ramine Rouhani
                                          Title: Managing Director

                                       CDC FINANCIAL PRODUCTS, INC.,
                                       as Funding Agent for
                                       Eiffel Funding, LLC

                                       by /s/ N. Mumford
                                          --------------------------------
                                          Name:  N. Mumford
                                          Title: Managing Director

                                       by /s/ Ramine Rouhani
                                          --------------------------------
                                          Name:  Ramine Rouhani
                                          Title: Managing Director

<PAGE>

                                                                      SCHEDULE B
                       Schedule of CP Conduit Purchasers,
                     Committed Purchasers and Funding Agents

CP CONDUIT PURCHASERS:
--------------------------------------------------------------------------------
NAME & ADDRESS FOR NOTICES                       CP CONDUIT FUNDING LIMIT
--------------------------------------------------------------------------------
Park Avenue Receivables Corporation                     $150,000,000
c/o Global Securitization Services, LLC
114 West 47th Street,
Suite 1715
New York, NY  10036
Attention:  President
Telephone: (212) 302-5151
Fax:       (212) 302-8767
--------------------------------------------------------------------------------
Eiffel Funding, LLC                                      $75,000,000
c/o Global Securitization Services, LLC
115 West 47th Street
Suite 1715
New York, New York 10036
Attn:  Andrew Stidd
Telephone: (212) 302-8330
Fax:       (212) 302-8767
--------------------------------------------------------------------------------

Total Facility Limit:                                   $225,000,000
---------------------

<PAGE>

COMMITTED PURCHASERS:
--------------------------------------------------------------------------------
NAME & ADDRESS FOR NOTICES                                   COMMITMENT
--------------------------------------------------------------------------------
The Chase Manhattan Bank, as Committed Purchaser for        $153,000,000
Park Avenue Receivables Corporation
450 West 33rd Street,
15th Floor
New York, NY 10011
Attention:  Lara Graff
            CMFS-PARCO
Telephone: (212) 946-3748
Fax:       (212) 946-8098
--------------------------------------------------------------------------------
CDC Financial Products, Inc. as Committed Purchaser          $76,500,000
for
Eiffel Funding, LLC
9 West 57th Street
New York, New York 10019
Attention:  Michael Sista
Telephone: (212) 891-6121
Fax:       (212) 891-3335
--------------------------------------------------------------------------------

Total Aggregate Commitment:                                 $229,500,000
--------------------------

<PAGE>

FUNDING AGENTS:
--------------------------------------------------------------------------------
NAME & ADDRESS FOR NOTICES
--------------------------------------------------------------------------------
The Chase Manhattan Bank, as Funding Agent for
Park Avenue Receivables Corporation
450 West 33rd Street,
15th Floor
New York, NY 10011
Attention:  Lara Graff
            CMFS-PARCO
Telephone: (212) 946-3748
Fax:       (212) 946-8098
--------------------------------------------------------------------------------
CDC Financial Products, Inc. as Funding Agent for
Eiffel Funding, LLC
9 West 57th Street
New York, New York 10019
Attention:  Michael Sista
Telephone: (212) 891-6121
Fax:       (212) 891-3335
--------------------------------------------------------------------------------

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