Document:

Exhibit 4.5
               CERTIFICATE OF DESIGNATION, PREFERENCES AND RIGHTS
                           OF SERIES C PREFERRED STOCK

                        LUND INTERNATIONAL HOLDINGS, INC.

             Pursuant to Section 151 of the General Corporation Law
                            of the State of Delaware

           The undersigned, Dennis W. Vollmershausen, hereby certifies that:

           A. He is the duly elected and acting President and Chief Executive
Officer of LUND INTERNATIONAL HOLDINGS, INC., a Delaware corporation (the
"Corporation").

           B. Pursuant to authority given by the Corporation's Certificate of
Incorporation, as amended through the date hereof (the "Certificate of
Incorporation"), the Board of Directors of the Corporation duly adopted the
following resolutions as of December 20, 2000 creating a new series of 30,000
shares of Preferred Stock designated as "Series C Preferred Stock."

           C. The resolutions contained herein have not been modified, altered
or amended and are presently in full force and effect.

           RESOLVED, that pursuant to the authority expressly vested in the
Board of Directors of the Corporation by Article Fourth of the Certificate of
Incorporation, the Board of Directors hereby fixes and determines the powers,
preferences, rights and limitations of a series of Preferred Stock, which shall
consist of 30,000 shares and shall be designated as Series C Preferred Stock
(the "Series C Preferred Stock"), as follows:

4B.        Series C Preferred Stock.

           (i) Designation: Stated Value. There shall be a series of Preferred
Stock designated as "Series C Preferred Stock." The number of shares initially
constituting such series shall be 30,000. In the event that additional shares of
Series C Preferred Stock are required for the payment of dividends as described
below, the Corporation shall amend this Certificate to increase the number of
shares of Series C Preferred Stock; provided, however, that the Corporation
shall only be required to amend such number up to the number of shares of
preferred stock that is authorized, unissued and undesignated at such time. The
Series C Preferred Stock shall have a stated value of $1,000.00 per share (the
"Series C Stated Value"). Shares of Series C Preferred Stock may be issued from
time to time upon payment therefore pursuant to that certain Investment
Agreement, dated as of December 28, 2000, by and between the Corporation and LIH
Holdings IV, LLC (the "Investment Agreement"). Each issuance pursuant to the
Investment Agreement is hereinafter referred to as a "Tranche" and the shares
issued in each Tranche are hereinafter referred to as "Tranche Shares."

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           (ii) Rank. The Series C Preferred Stock shall, with respect to
dividend and other distribution rights, and rights on liquidation, dissolution
and winding up, rank (i) part passu with any class of capital stock or series of
Preferred Stock hereafter created which expressly provides that it ranks part
passu with the Series C Preferred Stock as to dividends, other distributions,
liquidation preference and/or otherwise (collectively, the "Parity Securities"),
(ii) junior to the Series B Preferred Stock, and (iii) senior to (x) the Common
Stock, the Class B Common Stock and all other securities of any class or classes
(however designated) of the Corporation (other than the Series B Preferred
Stock) the holders of which have the right, without limitation as to amount,
after payment on any securities entitled to a preference on dividends or other
distributions upon any dissolution, liquidation or winding up, either to all or
to a share of the balance of payments upon such dissolution, liquidation or
winding up (collectively, the "Common Stock Instruments") and (y) any other
class of capital stock or series of Preferred Stock hereafter created which does
not expressly provide that it ranks pari passu with, or senior to, the Series C
Preferred Stock as to dividends, other distributions, liquidation preference
and/or otherwise (collectively, the "Junior Securities"). The terms "Parity
Securities" and "Junior Securities" as used herein with respect to any class or
series of capital stock shall only be deemed to refer to such class or series to
the extent it ranks (i) pari passu with or (ii) no pari passu with, as
applicable, the Series C Preferred Stock with respect to dividends, other
distributions, liquidation preference or otherwise. The Corporation shall not
issue any securities ranking senior to or pari passu with the Parity Securities
with respect to dividends, distributions, liquidation preference or otherwise
unless a majority in interest of the Series C Preferred Stock, voting as a
class, shall have approved such a proposed issuance.

           (iii)     Dividends.

                     (a) The holders of shares of Series C Preferred Stock shall
           be entitled to receive, when, as and if declared by the Board of
           Directors, to the extent such dividends are legally available
           therefore in accordance with the Delaware General Corporation Law, a
           dividend on shares of Series C Preferred Stock hold (whether such
           shares are Tranche Shares or issued as a dividend on Tranche Shares
           as provided below ("Tranche Dividend Shares")), payable by the
           issuance of additional shares of Series C Preferred Stock, as
           provided below, quarterly on the last day of each March, June,
           September and December, commencing on the first of such dates
           following the date of an issuance of Series C Preferred Stock
           (whether Tranche Shares or Tranche Dividend Shares), (each such date
           hereinafter referred to as a "Series C Dividend Payment Date"),
           except that if such date is not a Business Day, then such dividend
           shall be payable on the next succeeding Business Day, to the holders
           of record as they appear on the register of the Corporation for the
           Series C Preferred Stock of the Corporation five Business Days prior
           to such Dividend Payment Date (the "Series C Dividend Record Date").

                     Dividends on the Series C Preferred Stock shall accrue and
           be paid at a rate per annum by distributing that number of shares of
           Series C Preferred Stock with a Stated Value equal to 12% of the
           Stated Value of each share of Series C Preferred Stock outstanding on
           a Series C Dividend Record Date with respect to such Series C
           Dividend Payment Date. No fractional shares shall be issued;
           provided, however, that fractional shares, if any, shall accrue and
           shall be issued when a whole number is accumulated.

                     (b) Dividends on the Series C Preferred Stock shall be
           cumulative and shall accrue from the date of issuance whether or not
           such dividends have been declared or paid.

                     (c) For so long as any shares of Series C Preferred Stock
           shall be outstanding, no dividend or distribution, whether in cash,
           stock or other property, shall be paid, declared and set apart for
           payment or made on any date on or in respect to any Junior Securities
           and no payment on account of the redemption, purchase or other
           acquisition or retirement for value by the Corporation shall be made
           on any date of shares of Junior Securities unless, in each case, the
           full amount of unpaid dividends accrued on all outstanding shares of
           Series C Preferred Stock shall have been paid or contemporaneously
           are declared and paid; provided, however, that the foregoing
           provisions of this sentence shall not prohibit (i) a dividend payable
           solely in shares of Common Stock Instruments or any other Junior
           Securities, or (ii) the acquisition of any shares of any Common Stock
           Instruments or any other Junior Securities upon conversion or
           exchange thereof into or for any shares of any other class of Common
           Stock Instruments or other Junior Securities.

           (iv)      Redemption and Retirement of Series C Preferred Stock.

                      (a) Redemption by Corporation. The Series C Preferred
           Stock shall be redeemed by the Corporation only upon satisfaction of
           each of the conditions for redemption set forth in that certain
           Capital Call Agreement, dated as of November 13, 2000, by and among
           the Corporation, Harvest Partners III, L.P. and Agent (as the same
           may be amended, restated, supplemented or otherwise modified from
           time to time, the "Capital Call Agreement"). Notwithstanding the
           foregoing, the Series C Preferred Stock shall be redeemable upon
           demand by the Corporation in the event that certain Credit Agreement,
           dated February 27, 1998 (as such agreement has from time to time been
           amended, supplemented or otherwise modified, including without
           limitation that certain Waiver and fourth Amendment to Credit
           Agreement dated as of November 13, 2000 and as it may hereafter be
           further amended, restated, supplemented, modified, refinanced or
           replaced (the "Credit Agreement")), by and among the Corporation,
           Lund Industries, Incorporated, Deflecta-Shield Corporation, Belmor
           Autotron Corp., DFM Corp., Auto Ventshade Company, Smittybilt, Inc.,
           Lund Acquisition Corp., BAC Acquisition Co., Trailmaster Products,
           Inc., Delta III, Inc., Ventshade Holdings, Inc., Heller Financial,
           Inc., individually as a Lender and in its capacity as Agent, and the
           other Lenders which are signatories thereto, is terminated and all
           obligations thereunder are indefeasibly repaid in full in cash.

                     (b) Payment of Series C Redemption Price. On the Series C
           Redemption Date (as hereinafter defined), if permitted by law, the
           Corporation shall pay to the holder of each share of Series C
           Preferred Stock being redeemed, upon surrender by such holder at the
           Corporation's principal executive office of the certificate
           representing such share, duly endorsed in blank or accompanied by an
           appropriate form of assignment, the Series C Redemption Price. As
           used herein, the "Series C Redemption Price" means the sum of (x) the
           Series C Stated Value, plus (y) an amount equal to all accrued and
           unpaid dividends thereon to the Series C Redemption Date.

                     (c) Redeemed or Otherwise Acquired Shares Not to be
           Reissued; Shares Not Acquired. All shares of Series C Preferred Stock
           redeemed pursuant to this Part (iv) of Section 4B or otherwise
           acquired by the Corporation shall be retired and shall not thereafter
           be reissued as Series C Preferred Stock, but shall revert to the
           status of authorized, undesignated and unissued preferred stock. In
           the event that the Second Capital Call, as defined in the Investment
           Agreement, does not occur, 5,000 shares of Series C Preferred Stock
           plus any shares of Series C Preferred Stock that were reserved for
           dividends thereon, shall be retired and shall not thereafter be
           reissued as Series C Preferred Stock, but shall revert to the status
           of authorized, undesignated and unissued preferred stock.

                     (d) Determination of Number of Each Holder's Shares to be
           Redeemed. If, for any reason, less than all of the outstanding shares
           of Series C Preferred Stock are to be redeemed pursuant to Part
           (iv)(a) of this Section 4B, the Corporation shall determine the
           shares held by each holder of Series C Preferred Stock to be redeemed
           as hereinafter provided. The number of shares to be redeemed from
           each holder thereof shall be the number of shares determined by
           multiplying the total number of shares to be redeemed times a
           fraction, the numerator of which shall be the total number of shares
           of Series C Preferred Stock then held by such holder and the
           denominator of which shall be the total number of shares of Series C
           Preferred Stock then outstanding.

                     (d) Notice of Redemption. Notice of any redemption of
           Series C Preferred Stock pursuant to Part (iv)(a) of this Section 4B,
           specifying the time and place of redemption and the Series C
           Redemption Price (the "Series C Redemption Date"), shall be mailed by
           certified or registered mail, return receipt requested, to each
           holder of record of shares to be redeemed, at the address for such
           holder shown on the Corporation's records, not less than 15 days
           prior to the date on which such redemption is to be made; provided,
           that neither failure to give such notice nor any defect therein shall
           affect the validity of the proceeding for the redemption of any
           shares of Series C Preferred Stock to be redeemed. Such notice shall
           also specify the number of shares of each holder thereof and the
           certificate numbers thereof which are to be redeemed. In case less
           than all the shares represented by any certificate re redeemed, a new
           certificate representing the unredeemed shares shall be issued to the
           holder thereof without cost to such holder. Upon receipt of any such
           notice, the holder of the shares being redeemed shall deliver to the
           Corporation the certificate(s), duly endorsed for transfer,
           representing the shares to be redeemed; provided, however, that any
           failure by a holder to deliver such certificate(s) shall not in any
           way affect the status of such shares, upon tender by the Corporation
           of the Series C Redemption Price, as redeemed and canceled.

                     (f) Dividends After Redemption Date. Unless the Series C
           Redemption Price in respect of a share of Series C Preferred Stock is
           not made available in full to the holder thereof, from and after the
           Series C Redemption Date, such share of Series C Preferred Stock
           shall not be entitled to any dividends accruing after such date, all
           rights of the holder of such share, as a stockholder of the
           Corporation by reason of the ownership of such share, shall cease,
           except the right to receive the Series C Redemption Price of such
           share upon the presentation and surrender of the certificate
           representing such share, and such share shall not after such date be
           deemed to be outstanding for any purpose.

           (v)       Liquidation Rights.

                     (a) Upon the dissolution, liquidation or winding up of the
           Corporation, whether voluntary or involuntary, the holders of
           outstanding shares of Series C Preferred Stock shall be entitled to
           receive for each such share, out of the assets of the Corporation
           available for distribution to stockholders, before any payment or
           distribution to stockholders and before any payment or distribution
           shall be made to the holders of Common Stock or any other Junior
           Securities upon liquidation, an amount in cash equal to the sum (the
           "Series C Liquidation Value") of (x) the Series C Stated Value, plus
           (y) an amount equal to all accrued and unpaid dividends in respect of
           such share to the date of final distribution.

                     (b) After the payment to the holders of the Series C
           Preferred Stock of the full preferential amounts provided for in this
           Part (v) of Section 4B, the holders of the Series C Preferred Stock
           as such shall have no right or claim to any of the remaining assets
           of the Corporation.

                     (c) If, upon any such liquidation, dissolution or other
           winding up of the affairs of the Corporation, the assets of the
           Corporation are insufficient to permit the payment in full of the
           Series C Liquidation Value for each share of Series C Preferred Stock
           then outstanding and the full liquidating payment on all Parity
           Securities, then the assets of the Corporation remaining shall be
           ratably distributed among the holders of Series C Preferred Stock and
           of any Parity Securities in proportion to the full amounts to which
           they would otherwise be respectively entitled if all amounts thereon
           were paid in full.

                     (d) Neither the voluntary sale, conveyance, exchange or
           transfer (for cash, shares of stock, securities or other
           consideration) of all or substantially all the property or assets of
           the Corporation nor the consolidation, merger or other business
           combination of the Corporation with or into one or more corporations
           shall be deemed to be a liquidation, dissolution or winding-up
           voluntary or involuntary, of the Corporation.

           (vi)      Conversion.

                     (a) Each share of Series C Preferred Stock shall be
           convertible, at the option of the holder at any time, into that
           number of shares of Common Stock equal to the Series C Liquidation
           Value divided by the Fair Market Value, as described below, per share
           of Common Stock on the date of notice of conversion (the "Series C
           conversion Ratio"). For purposes of this Section 4B (vi)(a), Fair
           Market Value means the average of the closing sale price for the
           Common Stock for the twenty (20) business days prior to the date of
           conversion as reported on the largest securities exchange on which
           such shares are listed; and if not so listed, as reported on Nasdaq
           National or Small Cap market and if such shares are not listed on
           either a national securities exchange or on the Nasdaq National or
           Small Cap markets, then on the Nasdaq Bulletin Board, and if the
           Common Stock is not, for the twenty (20) business days prior to the
           date of conversion, quoted on the bulletin board, any national
           exchange or automated quotation system, means the value determined by
           the independent members of the Board of Directors of the Corporation.
           Independent members shall mean those directors who are not affiliates
           of Harvest Partners III, L.P. or the Chief Executive Officer of the
           Corporation.

                     (b) Each conversion of shares of Series C Preferred Stock
           into shares of Common Stock will be effected by the surrender of the
           certificate or certificates representing the shares to be converted
           at the principal office of the Corporation (or such other office or
           agency of the Corporation as the Corporation may designate in writing
           to the holders of the Series C Preferred Stock) at any time during
           normal business hours. Each conversion will be deemed to have been
           effected as of the close of business on the date on which such
           certificate or certificates were surrendered. At such time, the
           rights of the holder of the converted Series C Preferred Stock (in
           its capacity as such) will cease certificates for shares of Common
           Stock are to be issued upon such conversion will be deemed to have
           become the holder or holders of record of the shares of Common Stock
           represented thereby.

                     (c) Following each surrender of certificates pursuant to
           paragraph (b) above, the Corporation will issue and deliver, in
           accordance with the surrendering holder's instructions, (x) the
           certificate or certificates for Common Stock issuable upon such
           conversion, and (y) any cash payment required to be made pursuant to
           Part (vi)(a) of Section 4B.

                     (d) The issuance of certificates representing shares of
           Common Stock upon conversion of any shares of Series C Preferred
           Stock will be made without charge to the holders of such converted or
           newly issued shares for any issuance tax in respect thereof or other
           cost incurred by the Corporation in connection with such conversion
           and the related issuance of shares of Common Stock.

                     (e) The Corporation will at all times reserve and keep
           available out of its authorized but unissued shares of Common Stock
           the number of such shares sufficient for issuance upon conversion of
           the Series C Preferred Stock hereunder.

                     (f) The Corporation will not close its books against the
           transfer of Common Stock in any manner which would interfere with the
           timely conversion of Series C Preferred Stock.

                     (g) In the event the outstanding shares of Common Stock
           shall, after the determination of the Series C Conversion Ratio be
           further subdivided (split), or combined (reverse split), by
           reclassification or otherwise, or in the event of any dividend or
           other distribution payable on the Common Stock or Junior Securities
           in shares of Common Stock, Common Stock Instruments or Junior
           Securities, then, in each such case, the Series C Conversion Ratio in
           effect immediately prior to such event shall be adjusted so that each
           holder of shares of Series C Preferred Stock shall have the right to
           convert its shares of Series C Preferred Stock into the number of
           shares of the Common Stock which it would have owned after the event
           had such shares of Series C Preferred Stock been converted
           immediately before the happening of such event. Any adjustment under
           this Part (vi)(g) of Section 4B shall become effective as of the date
           and time the subdivision or combination becomes effective.

                     (h) In connection with any merger, consolidation,
           recapitalization, reorganization or similar transactions in which
           holders of Common Stock generally receive, or are given the
           opportunity to receive, consideration for their shares, then, in all
           such circumstances, unless otherwise approved by a majority of the
           holders of the then outstanding shares of Series C Preferred Stock
           voting as a separate class, all holders of Series C Preferred Stock
           shall be entitled to receive the same consideration per share for
           their shares (calculated as if such shares of Series C Preferred
           Stock, including cumulative dividends thereon, whether declared or
           paid, had been converted on a one-for-one basis into shares of Common
           Stock) as is received by the holders of Common Stock, including, but
           not limited to, form, amount and timing of payment.

           (vii) Voting Rights. Except as expressly provided herein or as
required under the Delaware General Corporation Law, on all matters to be voted
on by the Corporation's stockholders, holders of shares of Series C Preferred
Stock will be entitled to no voting rights.

           RESOLVED, that the Board of Directors hereby authorizes and directs
the officers of the Corporation, in the name of and on behalf of the
Corporation, and to the extent required under its corporate seal, to execute and
deliver any and all other instruments, certificates and other documents, and to
do any and all other acts and things, including the expenditure of corporate
funds, that said officers shall deem necessary or appropriate in order to fully
carry out the intent and accomplish the purposes of the resolutions adopted
hereby.

IN WITNESS WHEREOF, the Corporation has caused its corporate seal to be hereunto
affixed and this Certificate to be signed by Dennis W. Vollmershausen, its
President and Chief Executive Officer, and attested by Edmund J. Schwartz, its
Assistant Secretary, this 28th day of December, 2000.

                                 LUND INTERNATIONAL HOLDINGS, INC.

                                 By:  /s/ Dennis W. Vollmershausen
                                    --------------------------------------------
                                 Name:  Dennis W. Vollmershausen
                                 Title:  President and Chief Executive Officer

Attest:

/s/ Edmund J. Schwartz
------------------------------------------
Name:  Edmund J. Schwartz
Title:  Assistant SecretaryExhibit 10.62
                              TERMINATION AGREEMENT

           Reference is made to that Certain Capital Contribution agreement,
dated as of January 28, 1999 (the "Agreement"), by and among Harvest Partners
III, L.P. ("Harvest Partners"), LIH Holdings III, LLC and Heller Financial,
Inc., as Agent ("Agent").

           The parties to the Agreement hereby agree that, on and as of November
14, 2000 and subject to the prior execution and delivery by Harvest Partners,
Lund International Holdings, Inc., Lund Industries, Incorporated,
Deflecta-Shield Corporation, Belmor Autotron Corp., DFM Corp., Auto Ventshade
Company, Smittybilt, Inc. to Agent of, and the prior effectiveness of, a new
Capital Call Agreement in form and substance satisfactory to Agent, the
Agreement and all obligations of the parties pursuant thereto shall terminate
and be of no further force and effect.

           IN WITNESS WHEREOF, the parties to the Agreement have caused this
Termination of Agreement to be executed and delivered as of the date first above
written.

                                          HARVEST PARTNERS III L.P.

                                          By:  /s/ Ira D. Kleinman
                                               ---------------------------------
                                          Title:  /s/ General Partner
                                                  ------------------------------

                                          LIH HOLDINGS III.LLC

                                          By:  /s/ Ira D. Kleinman
                                               ---------------------------------
                                          Title:
                                                 -------------------------------

                                          HELLER  FINANCIAL, INC., as Agent

                                          By:  /s/ Marc A. Pressler
                                               ---------------------------------
                                          Title:  Vice President
                                               ---------------------------------

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