Document:

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                         TUBE TURNS TECHNOLOGIES, INC.
                           PROFIT SHARING BONUS PLAN

                                2000 FISCAL YEAR

1.   Establishment of Plan.
     ---------------------

     Sypris Solutions Inc., a Delaware corporation ("Sypris"), established this
profit sharing bonus plan effective as of January 3, 2000 (the "Plan"), to
provide a financial incentive for the employees of Tube Turns Technologies,
Inc., a wholly-owned subsidiary and a Kentucky corporation (the "Company"), to
advance the growth and prosperity of Sypris and the Company.

2.   Eligibility.
     -----------

     All full-time employees of the Company shall be eligible to participate in
the Plan, other than those employees who are specifically included in another
incentive bonus and/or profit sharing plan of the Company in lieu of
participation in this Plan.

3.   Profit Sharing Pool.
     -------------------

     (a) Award amounts will be based on a Profit Sharing Pool that shall be
comprised of (i) five percent (5%) of the Profit Before Bonus and Taxes of the
Company for the previous fiscal year and (ii) thirty percent (30%) of the
increase in Profit Before Bonus and Taxes of the Company for the current fiscal
year from the previous fiscal year, as reported on the financial statements of
the Company.  No award shall be granted should the Profit Before Bonus and Taxes
of the Company for the current fiscal year decline from that of the previous
fiscal year.

     (b) The sum of the face amount of all accounts receivable which have not
been collected within ninety (90) days of the date of invoice and which have not
otherwise been reserved for on the Company's balance sheet as of December 31,
2000, shall be deducted from the Profit Sharing Pool and classified as a
"Delayed Bonus Payment."  If an invoice is determined to be uncollectable and is
subsequently written-off, the amount of the Delayed Bonus Payment will be
reduced accordingly.

     (c) The Profit Sharing Pool and the Delayed Bonus Payment shall be divided
into two award levels, with thirty-five percent (35%) of the Profit Sharing Pool
and the Delayed Bonus Payment set aside for award to Key Executives (the "Key
Executive Award") and sixty-five percent (65%) of the Profit Sharing Pool and
the Delayed Bonus Payment set aside for Key Employees (the "Key Employee
Award").

4.   Key Executive Award.
     -------------------

     (a)  Eligibility.  Key Executives shall be eligible employees of the
          -----------
Company who are specifically designated by the Compensation Committee of the
Board of Directors of Sypris (the "Compensation Committee") for participation
during the current fiscal year.  A list of the participants shall be attached to
a copy of this Plan and shall include each participant's name, salary, start
date (for purposes of the current fiscal year), maximum percentage share of the
Key Executive Award, and objectives for the year.

     (b)  Amount of Award.  Each eligible Key Executive employee shall be
          ---------------
entitled to an amount equal to his or her maximum percentage share of the Key
Executive Award, subject to an adjustment and/or determination by the
Compensation Committee to reflect (i) the actual contribution of the employee to
the Company's performance and profitability during the course of the fiscal
year, (ii) the portion of the fiscal year employed, (iii) his or her performance
to goals, and (iv) the recommendation of the President and CEO of the Company,
subject to the cap on such award as provided herein and the provisions of
Sections 4(c), 8(a) and 8(b) below.  The maximum amount payable to an eligible
Key Executive employee shall be equal to the lesser of his or her maximum
percentage share of the Key Executive Award or one hundred percent (100%) of the
eligible Key Executive employee's base salary.

     (c)  Time of Payment.  Awards shall be payable to each eligible Key
          ---------------
Executive employee as soon as administratively practicable after release of the
audited annual financial statements of Sypris; provided,
<PAGE>

however, that the Plan shall be in effect as of the date of payment and such
employee shall be employed by the Company as of the date of payment. No employee
shall have any right to payment of an award unless the Plan is in effect and the
employee is employed by the Company as of the date of payment.

     (d)  Delayed Bonus Payment.  Distribution of the Delayed Bonus Payment will
          ---------------------
be made to each eligible Key Executive employee when payment of all invoices
which created the Delayed Bonus Payment have been received and/or the amounts
have been written-off by the Company; provided, however, that the Plan shall be
in effect as of the date of the payment and such employee shall be employed by
the Company as of the date of payment.  No employee shall have any right to
payment of an award unless the Plan is in effect and the employee is employed by
the Company as of the date of payment.

5.   Key Employee Award.
     ------------------

     (a)  Eligibility.  Key Employees shall be eligible employees of the Company
          -----------
who are specifically designated by the Compensation Committee for participation
during the current fiscal year.  A list of the participants shall be attached to
a copy of this Plan and shall include each participant's name, salary, start
date (for purposes of the current fiscal year) and maximum percentage share of
the Key Employee Award.

     (b)  Amount of Award.  Each eligible Key Employee shall be entitled to an
          ---------------
amount equal to his or her maximum percentage share of the Key Employee Award,
subject to an adjustment and/or determination by the Compensation Committee to
reflect (i) the actual contribution of the employee to the Company's performance
and profitability during the course of the fiscal year, (ii) the portion of the
fiscal year employed, and (iii) the recommendation of the President and CEO of
the Company, subject to the cap on such award as provided herein and the
provisions of Sections 5(c), 8(a) and 8(b) below.  The maximum amount payable to
an eligible Key Employee shall be equal to the lesser of his or her maximum
percentage share of the Key Executive Award or one hundred percent (100%) of the
eligible Key Employee's base salary.

     (c)  Time of Payment.  Awards shall be payable to each eligible Key
          ---------------
Employee as soon as administratively practicable after release of the audited
annual financial statements of Sypris; provided, however, that the Plan shall be
in effect as of the date of payment and such employee shall be employed by the
Company as of the date of payment.  No employee shall have any right to payment
of an award unless the Plan is in effect and the employee is employed by the
Company as of the date of payment.

     (d)  Delayed Bonus Payment.  Distribution of the Delayed Bonus Payment will
          ---------------------
be made to each eligible employee when payment of all invoices which created the
Delayed Bonus Payment have been received and/or the amounts have been written-
off by the Company; provided, however, that the Plan shall be in effect as of
the date of payment and such employee shall be employed by the Company as of the
date of payment.  No employee shall have any right to payment of an award unless
the Plan is in effect and the employee is employed by the Company as of the date
of payment.

6.   Method of Payment.
     -----------------

     Awards shall be payable by check in lump sum.  All such payments shall be
subject to withholding for income, social security or other such payroll taxes
as may be appropriate.

7.   Administration.
     --------------

     The Compensation Committee shall administer this Plan.  The decisions of
the Compensation Committee in interpreting and applying the Plan shall be final.

8.   Miscellaneous.
     -------------

     (a)  Employment Rights.  The adoption and maintenance of this Plan is not
          -----------------
an employment agreement between the Company and any employee.  Nothing herein
contained shall be deemed to give any employee the right to be retained in the
employ of the Company nor to interfere with the right of the Company to
discharge any employee at any time.

                                       2
<PAGE>

     (b)  Amendment and Termination.  The Company may, without the consent of
          -------------------------
any employee or beneficiary, amend or terminate the Plan at any time and from
time-to-time.

     (c)  Governing Law.  This Plan shall be governed by and construed in
          -------------
accordance with the laws of the State of Delaware.

     (d)  Construction.  The headings and subheadings of this Plan have been
          ------------
inserted for convenience for reference only and are to be ignored in any
construction of the provisions hereof.  The masculine shall be deemed to include
the feminine, the singular shall include the plural, and the plural shall
include the singular unless the context otherwise requires.  The invalidity or
unenforceability of any provision hereunder shall not affect the validity or
enforceability of the balance hereof.  This Plan represents the entire
undertaking by the Company concerning its subject matter and supersedes all
prior undertakings with respect thereto.  No provision hereof may be waived or
discharged except by a written document approved by the Compensation Committee
and signed by a duly authorized representative of the Company.

     SYPRIS SOLUTIONS INC.              TUBE TURNS TECHNOLOGIES, INC.

     /s/ Jeffrey T. Gill                /s/ John M. Kramer
     -----------------------------      ---------------------------------
     President & CEO                    President & CEO

     1/3/2000                           1/3/2000
     -----------------------------      ---------------------------------
     Date                               Date

                                       3<PAGE>

                             SYPRIS SOLUTIONS INC.
                             EXECUTIVE BONUS PLAN
                               2001 FISCAL YEAR

1.   Establishment of Plan.
     ---------------------

     Sypris Solutions Inc., a Delaware corporation (the "Company"), established
this executive bonus plan effective as of January 2, 2001 (the "Plan"), to
provide a financial incentive for employees of the Company to advance the growth
and prosperity of the Company.

2.   Eligibility.
     -----------

     Officers of the Company who are specifically designated by the Compensation
Committee of the Board of Directors of the Company (the "Compensation
Committee") for participation during the current year shall be eligible to
participate in the Plan.

3.   Bonus Potential.
     ---------------

     The Bonus Potential for each participant will be established and approved
by the Compensation Committee at the beginning of each Plan year. Each
participant will be provided with a copy of this Plan, which will include an
exhibit that lists the participant's full name, salary, start date (for purposes
of the current fiscal year), cash bonus potential, stock option bonus potential,
the Company's (and the subsidiary's, in the case of a subsidiary president)
financial plan benchmarks and management objectives for the current year.
Participants who serve in the capacity of president of a Company subsidiary will
derive 20% of their Bonus Potential from the performance of the Company and 80%
of their Bonus Potential from the performance of the individual subsidiary for
which they are responsible, as more fully described below, in accordance with
the provisions of this Plan.

     (a)  Cash Bonus Potential.  The Cash Bonus Potential will be divided into
          --------------------
five award components of equal amount. Four of the award components will be
allocated to each of the four quarters of the year, while the fifth award
component will be allocated to the fiscal year. An award component will be
deemed to have been activated and therefore available for future payment upon
the achievement of at least 90% of the Company's (and/or the subsidiary's, in
the case of a subsidiary president) financial plan for profit before bonus and
tax and no more than 105% of the financial plan for average monthly net working
capital for the period to which the award component has been allocated, with the
exception of the fiscal year, for which at least 100% of the Company's (and/or
the subsidiary's, in the case of a subsidiary president) financial plan must be
achieved (the "Plan Metrics").

          Should the Company's financial performance for any given quarter fail
to meet the Plan Metrics for that quarter, the participant will still have the
opportunity to activate that award component currently, or at some future point
during the Plan year, based upon the achievement of the Company's Plan Metrics
on a year-to-date basis. Once an award component has been activated, it will
remain available for future payment regardless of any subsequent shortfall in
financial performance by the Company.

     (b)  Stock Option Bonus Potential.  The Stock Option Bonus Potential will
          ----------------------------
also be divided into five award components of equal amount.  Four of the award
components will be allocated to each of the four quarters of the year, while the
fifth award component will be allocated to the fiscal year.  An award component
will be deemed to have been activated and therefore available for future grant
upon the achievement of the Company's (and/or the subsidiary's, in the case of a
subsidiary president) Plan Metrics for the period to which the award component
has been allocated.

     Should the Company's financial performance for any given quarter fall short
of the Plan Metrics for that quarter, the participant will still have the
opportunity to activate that award component currently, or at some future point
during the Plan year, based upon the achievement of the Company's Plan Metrics
on a year-to-date basis. Once an award component has been activated, it will
remain available for future grant regardless of any subsequent shortfall in
financial performance by the Company.

<PAGE>

     (c)  Acquisitions and Divestitures.  The Plan Metrics will be adjusted to
          -----------------------------
reflect the expected impact of any acquisitions and/or divestitures that are
completed during the current Plan year at the time of such acquisition or
divestiture.

4.   Bonus Award.
     -----------

     Each eligible participant will be entitled to an amount equal to the sum of
the cash award components and the sum of the shares represented by the stock
option award components that have been activated during the Plan year, subject
to the provisions of Sections 7(a), 7(b) and the following:

     (a)  Management Objectives.  Each participant will have up to five
          ---------------------
Management Objectives for the Plan year, each of which will be specific with
regard to (i) the expected outcome, (ii) the expected financial impact on the
Company and (iii) the date or dates by which the objective must be achieved.
Each objective will receive a weighting, the total of which for all objectives
will be equal to 100%. The president and chief executive officer of the Company
will have the responsibility to review and determine each participant's
performance to objectives and to assign each individual a percentage that will
be used as a factor to determine the actual amount of the awards to be
distributed.

     (b)  Discretionary Review.  The president and chief executive officer of
          --------------------
the Company will have the discretion to increase the actual amount of the awards
to be distributed by up to 20% of the participant's Bonus Potential, based upon
the individual's specific performance and contribution to the Company. Such
discretion will be used sparingly and will generally be limited to the
recognition of extenuating circumstances and/or exceptional accomplishments that
may or may not have been captured by the Management Objectives.

     (c)  Approval of the Compensation Committee.  The Bonus Award for each
          --------------------------------------
participant will be subject to the review of and approval by the Compensation
Committee.  As a matter of policy, the Compensation Committee will not approve
the award of any bonus that would otherwise lead or contribute to an operating
loss as reported on the consolidated financial statements of Sypris Solutions
Inc.

     (d)  Qualification.  Awards will be payable to each eligible participant as
          -------------
soon as administratively practicable after release of the audited annual
financial statements of the Company and the approval of the Compensation
Committee; provided, however, that the Plan shall be in effect as of the date of
payment and such employee shall be employed by the Company as of the date of
payment.  NO EMPLOYEE SHALL HAVE ANY RIGHT TO PAYMENT OF AN AWARD UNLESS THE
PLAN IS IN EFFECT AND THE EMPLOYEE IS EMPLOYED BY THE COMPANY AS OF THE DATE OF
PAYMENT.

5.   Method of Distribution.
     ----------------------

     Cash awards shall be payable by check in lump sum. All such payments will
be subject to withholding for income, social security or other such payroll
taxes as may be appropriate. Stock option grants will be granted under and
subject to the Sypris Solutions Inc. 1994 Stock Option Plan for Key Employees
and will contain an option price that will be equal to the closing price of the
common stock on the over-the-counter market, as reported by the Nasdaq Stock
Market, on the date of grant.

6.   Administration.
     --------------

     The Compensation Committee shall administer this Plan. The decisions of the
Compensation Committee in interpreting and applying the Plan shall be final.

7.   Miscellaneous.
     -------------

     (a)  Employment Rights.  The adoption and maintenance of this Plan is not
          -----------------
an employment agreement between the Company and any employee.  Nothing herein
contained shall be deemed to give any employee the right to be retained in the
employ of the Company nor to interfere with the right of the Company to
discharge any employee at any time.

                                       2
<PAGE>

     (b)  Amendment and Termination.  The Company may, without the consent of
          -------------------------
any employee or beneficiary, amend or terminate the Plan at any time and from
time-to-time.

     (c)  Governing Law.  This Plan shall be governed by and construed in
          -------------
accordance with the laws of the State of Delaware.

     (d)  Construction.  The headings and subheadings of this Plan have been
          ------------
inserted for convenience for reference only and are to be ignored in any
construction of the provisions hereof.  The masculine shall be deemed to include
the feminine, the singular shall include the plural, and the plural shall
include the singular unless the context otherwise requires.  The invalidity or
unenforceability of any provision hereunder shall not affect the validity or
enforceability of the balance hereof.  This Plan represents the entire
undertaking by the Company concerning its subject matter and supersedes all
prior undertakings with respect thereto.  No provision hereof may be waived or
discharged except by a written document approved by the Compensation Committee
and signed by a duly authorized representative of the Company.

     IN WITNESS WHEREOF, the parties have entered into this Plan as of the date
first written above.

     SYPRIS SOLUTIONS INC.               PARTICIPANT

     /s/ Robert E. Gill
     ____________________________        ______________________
     Robert E. Gill
     Chairman

     /s/ Henry F. Frigon
     ____________________________
     Henry F. Frigon
     Chairman
     Compensation Committee

     /s/ Jeffrey T. Gill
     ____________________________
     Jeffrey T. Gill
     President and CEO

                                       3

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