Document:

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                                                                   EXHIBIT 10.3

                              MANAGEMENT AGREEMENT

      AGREEMENT made as of February 5, 2001 by and between PMD GROUP INC., a
Delaware corporation (the "Corporation"), and AEA INVESTORS INC., a Delaware
corporation ("AEA").

      WHEREAS, AEA rendered certain investment banking services to the
Corporation since the date of the Agreement for Sale and Purchase of Assets,
dated November 28, 2000, by and between The B.F. Goodrich Company and PMD Group
Inc.;

      WHEREAS, AEA also renders advisory services to selected client companies,
and the Corporation desires to retain AEA to render advisory and consulting
services to it and AEA is willing to provide such services on the terms and
conditions hereinafter set forth;

      NOW, THEREFORE, it is mutually agreed as follows:

      1. The Corporation hereby retains AEA to render advisory and consulting
services to the Corporation, and AEA hereby agrees to render such services, for
the period commencing on November 28, 2000 and continuing for so long as is
provided in the Stockholders Agreement, dated as of November 28, 2000, by and
among PMD Group Holdings Inc., PMD Investors I LLC, PMD Investors II LLC, DLJMB
Funding III, Inc. and DB Capital/PMD Investors LLC (the "Stockholders
Agreement"). AEA shall render such advisory and consulting services to the
Corporation in connection with such financial, management and other matters
relating to the business and operations of the Corporation or any of its
subsidiaries or affiliated companies, as the Corporation's Board of Directors
may from time to time request, in each case consistent with the Stockholders
Agreement.

      2. As compensation for AEA's advisory and consulting services rendered
pursuant to Section 1 hereof, the Corporation will pay, and AEA will accept, so
long as this Agreement

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continues in effect and so long as payments of interest and principal are being
paid on a current basis on the Corporation's senior subordinated notes, a fee of
$1,925,000 payable per annum quarterly in advance, on the first day of each
calendar quarter, commencing as of April 1, 2001. If at any time the Corporation
is not current with respect to payments of interest and principal on its senior
subordinated notes, no fee shall be currently payable; rather, such fees shall
accrue until such time as the Corporation is current on such interest and
principal payments, at which time all accrued and unpaid fees hereunder shall be
paid by the Corporation. The Corporation also agrees to the provisions with
respect to indemnifying AEA and the other matters set forth in Annex A hereto,
which is incorporated by reference into this Agreement (the "Indemnification
Agreement").

      It is the understanding of the parties that AEA may be involved with
potential acquisitions, mergers, financings or other major transactions
involving the Corporation, in which case AEA shall be entitled to such
compensation, in addition to the fee provided above, as the Corporation and AEA
shall mutually agree, in each case consistent with the Stockholders Agreement.

      In addition to the aforementioned fees, the Corporation shall reimburse
AEA for its reasonable out-of-pocket costs and expenses incurred in connection
with the performance of its advisory and consulting services hereunder.

      No advice rendered by AEA in its advisory role hereunder, whether formal
or informal, may be disclosed, in whole or in part, or summarized, excerpted
from or otherwise referred to without AEA's prior written consent. In addition,
AEA's role under this Agreement may not be otherwise referred to without its
prior consent.

      3. Any notice required to be given hereunder shall be in writing and shall
be

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deemed sufficient if delivered in person or mailed by certified mail as follows:
if to the Corporation, to it at its office at PMD Group Inc., 9911 Brecksville
Road, Cleveland, Ohio 44141 or such other address as the Corporation may
hereafter designate for that purpose; and if to AEA, to it at its office at Park
Avenue Tower, 65 East 55th Street, New York, New York 10022, or such other
address as AEA may hereafter designate for that purpose.

      4. In connection with this engagement, AEA and/or its affiliates will be
acting as independent contractors and not in any other capacity, with duties
owing solely to the Corporation.

      5. This Agreement, together with the Indemnification Agreement and the
Stockholders Agreement, constitutes the entire agreement between the parties and
supersedes all prior agreements and understandings, both written and oral, with
respect to the subject matter hereof. This Agreement shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and
assigns, including any corporation into which the Corporation shall consolidate
or merge or to which it shall transfer substantially all of its assets. This
Agreement shall be governed by and construed in accordance with the laws of the
State of New York applicable to contracts made and to be performed entirely
within such state.

                   [REMAINDER OF PAGE IS INTENTIONALLY BLANK]

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

                                      PMD GROUP INC.

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

                                      AEA INVESTORS INC.

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

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                       ANNEX A - INDEMNIFICATION AGREEMENT

            As part of the consideration for the agreement of AEA to furnish its
services under this Agreement, the Corporation hereby agrees to indemnify and
hold harmless AEA and its affiliates and the respective managing directors,
officers, directors, investors, shareholders, members, partners, employees and
agents of, and persons controlling, AEA or any of its affiliates within the
meaning of either Section 15 of the Securities Act of 1933, as amended, or
Section 20 of the Securities Act of 1934, as amended, and each of their
respective successors and assigns (collectively, the "INDEMNIFIED PERSONS") from
and against all claims, liabilities, expenses, losses or damages (or actions in
respect thereof) related to or arising out of actions taken (or omitted to be
taken) by AEA pursuant to the terms of this Agreement, or AEA's role in
connection therewith; PROVIDED, HOWEVER, that the Corporation shall not be
responsible for any claims, liabilities, expenses, losses and damages to the
extent that it is finally judicially determined that they result primarily from
actions taken or omitted to be taken by AEA in bad faith or due to AEA's gross
negligence or willful misconduct. If for any reason (other than the bad faith,
gross negligence or willful misconduct of AEA as provided above) the foregoing
indemnity is unavailable to the indemnified persons or insufficient to hold the
indemnified persons harmless, then the Corporation shall contribute to the
amount paid or payable by the indemnified persons as a result of such claim,
liability, expense, loss or damage in such proportion as is appropriate to
reflect not only the relative benefits received by the Corporation on the one
hand and AEA on the other, but also the relative fault of the Corporation and
AEA, as well as any relevant equitable considerations, subject to the limitation
that in any event AEA's aggregate contribution to all claims, expenses, losses,
liabilities and damages shall not exceed the amount of fees actually received by
AEA pursuant to this Agreement. Promptly after receipt by AEA of notice of any
complaint or the commencement of any action or proceeding with respect to which
indemnification may be sought against the Corporation, AEA will notify the
Corporation in writing of the receipt or commencement thereof, but failure to
notify the Corporation will relieve the Corporation from any liability which it
may have hereunder only if, and to the extent that, such failure results in the
forfeiture of substantial rights and defenses, and will not in any event relieve
the Corporation from any other obligation to any indemnified person other than
under this Indemnification Agreement. The Corporation shall assume the defense
of such action (including payment of fees and disbursements of counsel) insofar
as such action shall relate to any alleged liability in respect of which
indemnity may be sought against the Corporation. AEA shall have the right to
employ separate counsel in any such action and to participate in the defense
thereof, but the fees and disbursements of such counsel shall be at the expense
of AEA unless employment of such counsel has been specifically authorized by the
Chief Executive Officer of the Corporation in writing. The Corporation shall pay
the fees and expenses of one separate counsel for AEA and any other indemnified
persons if the named parties to any such action (including any impleaded
parties) include the Corporation (or any of the directors of the Corporation)
and AEA and (i) in the good faith judgment of AEA the use of joint counsel would
present such counsel with an actual or potential conflict of interest or (ii)
AEA shall have been advised by counsel that there may be one or more legal
defenses available to it which are different from or additional to those
available to the Corporation (or the director(s)). The Corporation will not,
without AEA's prior written consent, settle, compromise, consent to the entry of
any judgment in or otherwise seek to terminate any action, claim, suit,
investigation or proceeding in respect

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of which indemnification may be sought hereunder (whether or not any Indemnified
Person is a party thereto) unless such settlement, compromise, consent or
termination includes a release of each Indemnified Person from any liabilities
arising out of such action, claim, suit, investigation or proceeding. The
Corporation shall not be liable to indemnify any person for any settlement of
any claim or action effected without written consent of the Chief Executive
Officer of the Corporation, which consent shall not be unreasonably withheld. In
addition, the Corporation hereby agrees to reimburse AEA and each other
indemnified person for all expenses (including reasonable fees and disbursements
of counsel if the Corporation does not assume the defense of such action) as
they are incurred by AEA, or any indemnified person in connection with
investigating, preparing or defending any such action or claim. AEA shall have
no liability to the Corporation or any other person in connection with the
services which they render pursuant to this Agreement, except for AEA's bad
faith, gross negligence or willful misconduct judicially determined as
aforesaid. The indemnification, contribution and expense reimbursement
obligation the Corporation has under this paragraph shall be in addition to any
liability the Corporation may otherwise have. ANY RIGHT TO TRIAL BY JURY WITH
RESPECT TO ANY ACTION OR PROCEEDING ARISING IN CONNECTION WITH OR AS A RESULT OF
EITHER AEA'S ENGAGEMENT OR ANY MATTER REFERRED TO IN THIS AGREEMENT IS HEREBY
WAIVED BY THE PARTIES HERETO. THE PROVISIONS OF THIS ANNEX A SHALL SURVIVE ANY
TERMINATION OR COMPLETION OF THE ENGAGEMENT PROVIDED BY THIS AGREEMENT.

                                      * * *

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                                                                   Exhibit 10.4

                                         February 5, 2001

PMD Group Inc.
9911 Brecksville Road
Cleveland, Ohio  44141

Dear Sir/Madam:

This letter confirms our understanding that PMD Group Inc. (the "Company" or
"you") has engaged Credit Suisse First Boston Corporation and its affiliates,
successors and assigns, as appropriate ("CSFB" or "we"), to act as a financial
advisor to the Company with respect to the Company's continuing review of
strategic and financial planning matters.

As part of our engagement, we will, if appropriate and if requested:

(a)      undertake, in consultation with members of management, a comprehensive
         study and analysis of the business, operations, financial condition and
         prospects of the Company; and

(b)      review with members of management the Company's financial plans and
         analyze its strategic plans and business alternatives.

The term of this engagement (the "Term") shall commence on November 28, 2000 and
continue for so long as provided in the Stockholders Agreement dated as of
November 28, 2000 by and among PMD Group Holdings Inc., PMD Investors I LLC, PMD
Investors II LLC, DLJMB Funding III, Inc. ("Funding") and DB Capital/PMD
Investors LLC (the "Stockholders Agreement") unless terminated sooner as
provided below. During the Term, we will continue to update and maintain our
knowledge to assure that we are current with the Company's business, operations,
financial condition and prospects. In addition, CSFB will be available at your
request to meet with your Board of Directors to discuss strategic alternatives
and their financial implications.

In connection with CSFB's engagement, the Company will furnish CSFB with all
information concerning the Company which CSFB reasonably deems appropriate and
will provide CSFB with access to the Company's officers, directors, employees,
accountants, counsel and other representatives (collectively, the
"Representatives"), it being understood that CSFB will rely solely upon such
information supplied by the Company and its Representatives without assuming any
responsibility for independent investigation or verification thereof. All
non-public information concerning the Company which is given to CSFB will be
used solely in the course of the performance of our services hereunder and will
be treated confidentially by it for so long as it remains non-public. Except as
otherwise required by law or judicial or regulatory process, CSFB will not
disclose this information to a third party without the Company's consent.
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As compensation for our services hereunder, during the Term, the Company agrees
to pay CSFB a financial advisory fee equal to $500,000, ("Financial Advisory
Fee") payable per annum quarterly in advance, on the first day of each calendar
quarter, commencing as of April 1, 2001. If at any time, the Company is not
current with respect to payments of interest and principal on its senior
subordinated notes, no Financial Advisory Fee shall be currently payable;
rather, such fees shall accrue until such time as the Company is current on such
interest and principal payments, at which time all accrued and unpaid fees
hereunder shall be paid by the Company.

In addition, to the aforementioned fees, the Company shall reimburse CSFB for
its reasonable out-of-pocket costs and expenses, incurred in connection with the
performance of its advisory and consulting services hereunder.

No advice rendered by CSFB in its advisory role hereunder, whether formal or
informal, may be disclosed, in whole or in part, or summarized, excerpted from
or otherwise referred to without our prior written consent. In addition, CSFB's
role under this Agreement may not be otherwise referred to without our prior
consent.

Since CSFB will be acting on behalf of the Company in connection with its
engagement hereunder, the Company and CSFB agree to the indemnity provisions and
other matters set forth in Annex A of the Management Agreement dated as of
February 5, 2001, between the Company and DLJ Merchant Banking Partners III,
L.P. (the "Management Agreement"). Said Annex A is hereby incorporated by
reference into this agreement.

It is the understanding of the parties that CSFB may be involved with potential
acquisitions, mergers, financings or other major transactions involving the
Company, in which case CSFB shall be entitled to such compensation, in addition
to the fee provided above, as the Company and CSFB shall mutually agree, in each
case consistent with the Stockholders Agreement.

CSFB's engagement hereunder may be terminated at any time by the Company or by
CSFB, with or without cause, upon ten days' prior written notice thereof to the
other party, at which time the Company's obligation to pay the Financial
Advisory Fee to CSFB shall cease; PROVIDED, HOWEVER, that no termination of
CSFB's engagement hereunder shall affect the Company's obligation to pay all
fees and expenses required to be paid to Funding or another affiliate of Credit
Suisse Group designated by Funding to the full extent provided for in the
Stockholders Agreement, and to indemnify CSFB and certain related persons and
entities as provided in Annex A of the Management Agreement referred to above.

CSFB is a full service securities firm engaged in securities trading and
brokerage activities as well as investment banking and financial advisory
services. In the ordinary course of our trading and brokerage activities, CSFB
or its affiliates may hold positions, for its own account or the accounts of
customers, in equity, debt or other securities of the

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Company or any other company that may be involved in the matters contemplated by
this agreement.

Any notice required to be given hereunder shall be in writing and shall be
deemed sufficient if delivered in person or mailed by certified mail as follows:
if to the Company, to it at its office at PMD Group Inc., 9911 Brecksville Road,
Cleveland, Ohio 44141 or such other address as the Company may hereafter
designate for that purpose; and if to CSFB to it at its offices at 277 Park
Avenue, New York, New York, 10172.

In connection with this engagement, CSFB is acting as an independent contractor
and not in any other capacity, with duties owing solely to the Company. This
agreement shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and assigns, including any corporation into
which the Company shall consolidate or merge or to which it shall transfer
substantially all of its assets. All aspects of the relationship created by this
agreement shall be governed by and construed in accordance with the laws of the
State of New York, applicable to contracts made and to be performed therein.

We are delighted to accept this engagement and look forward to working with you
on this assignment. Please confirm that the foregoing is in accordance with your
understanding by signing and returning to us the enclosed duplicate of this
letter.

                                         Very truly yours,

                                         CREDIT SUISSE FIRST BOSTON
                                         CORPORATION

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

Accepted and agreed to as of the date first written above:

PMD Group Inc.

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

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