Document:

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                                                                    Exhibit 10-8

                                    AGREEMENT

         This Agreement dated as of October 31, 2001 (the "Agreement"), among
Lexington Precision Corporation, a Delaware corporation (the "LPC"), Lexington
Rubber Group, Inc., a Delaware corporation formerly known as Lexington
Components, Inc. ("LRG"; LPC and LRG are referred to individually as "Borrower"
and collectively as the "Borrowers"), and Bank One, NA (formerly known as Bank
One, Akron, NA) ("Lender").

         WHEREAS, Lender and each of the Borrowers have entered into a certain
Credit Facility and Security Agreement dated as of January 31, 1997, including
Rider A thereto, as amended, modified, and supplemented, and certain mortgages,
security agreements, deeds of trust and other documents, instruments, and
agreements in connection therewith, and the Borrowers have executed certain
promissory notes in connection therewith (all of the foregoing, as amended,
modified, and supplemented, being referred to collectively as the "Loan
Documents").

         NOW, THEREFORE, in consideration of the mutual covenants contained
herein and for other good and valuable consideration, the receipt and adequacy
of which are hereby acknowledged, the parties hereto, intending to be legally
bound, hereby agree as follows:

         1. Waiver. Subject to paragraph 2 hereof, the Lender hereby waives,
until February 1, 2002, any Default or Event of Default under any of the Loan
Documents resulting solely from the failure of LPC to pay any principal or
interest due on February 1, 2000, May 1, 2000, August 1, 2000, November 1, 2000,
February 1, 2001, May 1, 2001, August 1, 2001, or November 1, 2001, in respect
of (a) LPC's 14% Junior Subordinated Notes due November 1, 2000, (b) LPC's
Junior Subordinated Convertible Increasing Rate Notes due May 1, 2000, and/or
(c) LPC's 12 3/4% Senior Subordinated Notes due February 1, 2000 (the
indebtedness referred to in clauses (a), (b) and (c) is referred to herein
as the "Other Indebtedness").

         2. Rescission of Waivers. The foregoing waivers shall be automatically
rescinded, without notice to LPC or LRG, in the event that the holder of any
Other Indebtedness or trustee in respect thereof seeks to accelerate the
maturity of any such Other Indebtedness or to enforce or exercise any remedies
in respect thereto.

         3. Effective Date.

            This Agreement shall be deemed effective as of October 31, 2001.

         4. Representations and Warranties. Each of the parties represents and
warrants that: (a) the execution, delivery, and performance of this Agreement
have been duly authorized by all requisite action on its part; and (b) this
Agreement has been duly executed and delivered by it and constitutes its legal,
valid, and binding agreement, enforceable against it in accordance with its
terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium, or similar laws affecting the
enforceability of creditors' rights generally or by general equitable
principles.
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         5.       No Other Amendments.

                  Except as set forth herein, all terms and provisions of the
Loan Documents among Lender, LPC and LRG shall remain in full force and effect.
Except as expressly set forth herein, no other or further amendment, waiver or
consent is implied by, and LPC and LRG shall not be entitled to, any other or
further amendment, waiver or consent by virtue of the provisions of this
Agreement. In addition, without limiting the foregoing, the waivers of Lender
set forth herein do not constitute an agreement to, and LPC and LRG acknowledge
that Lender may decline to, grant any other or further waivers with respect to
the subject matter hereof or any other matters regardless of whether or not
there occurs any change in facts or circumstances relating to LPC and/or LRG

         6.       General Provisions.

                  (a) Defined Terms.  Capitalized terms used herein, unless
otherwise defined herein, shall have the meaning ascribed thereto in the Loan
Documents.

                  (b) Counterparts. This Agreement may be executed by the
parties in any number of counterparts and all of said counterparts taken
together shall be deemed to constitute one and the same instrument. This
Agreement may be signed by facsimile transmission of the relevant signature
pages hereof.

                  (c) Governing Law.  This Agreement shall be governed by,
and construed and interpreted in accordance with, the internal laws of the
State of New York.

                  (d) Successors and Assigns.  This Agreement shall be
binding upon and inure to the benefit of the successors and assigns of the
parties hereto.

                  (e) Headings.  The paragraph headings of this Agreement
are for convenience of reference only and are not to be considered in
construing this Agreement.

                                      -2-
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         IN WITNESS WHEREOF, each Borrower and Lender have caused this Agreement
to be duly executed and delivered as of the date first written above.

                     LEXINGTON PRECISION CORPORATION

                     By:      Michael A. Lubin
                              --------------------------------------------------
                     Name:    Michael A. Lubin
                              --------------------------------------------------
                     Title:   Chairman of the Board
                              --------------------------------------------------

                     LEXINGTON RUBBER GROUP, INC.

                     By:      Michael A. Lubin
                              --------------------------------------------------
                     Name:    Michael A. Lubin
                              --------------------------------------------------
                     Title:   Chairman of the Board
                              --------------------------------------------------

                     BANK ONE, NA

                     By:      Sally C. Barton
                              --------------------------------------------------
                     Name:    Sally C. Barton
                              --------------------------------------------------
                     Title:   Vice President
                              --------------------------------------------------

                                      -3-<PAGE>
                                                                 EXHIBIT 4.4 (i)

                                              August 14, 2001

Paragon Corporate Holdings
7400 Caldwell Avenue
Niles, Illinois  60714
Attention:  John H. Fountain, Chairman
         Re:      Credit  and Security Agreement

Dear Sir:

         Reference is hereby made to that certain Credit and Security Agreement,
dated as of April 1, 1998, as amended by that certain Amendment No. 1 to Credit
and Security Agreement, dated as of March 17, 1999, as further amended by that
certain Amendment No. 2 to Credit and Security Agreement, dated as of March 31,
2000, as further amended by that certain Amendment No. 3 to Credit and Security
Agreement, dated as of May 10, 2000, as further amended by that certain
Amendment No. 4 to Credit and Security Agreement, dated as of March 31, 2001 (as
amended, modified, restated, substituted, extended and renewed at any time and
from time to time, the "Credit Agreement"), by and among PARAGON CORPORATE
HOLDINGS INC. ("Borrower"), certain financial institutions listed on the
signature pages hereto (the "Banks"), KEY CORPORATE CAPITAL INC., as Letter of
Credit Bank (the "Letter of Credit Bank"), and KEY CORPORATE CAPITAL INC. as
Agent for the Banks and the Letter of Credit Bank (the "Agent"). All capitalized
terms used but not otherwise defined herein shall have the meanings ascribed to
such terms in the Credit Agreement.

         Borrower has informed the Agent and the Banks that the Consolidated
EBITDA of A. B. Dick for the period beginning January 1, 2001 and ending June
30, 2001, was approximately $128,000, which amount violated Section 8.4(a) of
the Credit Agreement and resulted in an Event of Default. The Agent and the
Banks hereby waive such Event of Default resulting from the violation of Section
8.4(a) of the Credit Agreement for the period beginning January 1, 2001 and
ending June 30, 2001.

         Borrower has informed the Agent and the Banks that the Consolidated
Fixed Charge Coverage Ratio of Borrower as at the end of the period beginning
January 1, 2001 and ending June 30, 2001, was approximately -0.29 which amount
violated Section 8.4(b)(i) of the Credit Agreement and resulted in an Event of
Default. The Agent and the Banks hereby waive such Event of Default resulting
from the violation of Section 8.4(b)(i) of the Credit Agreement for the period
beginning January 1, 2001 and ending June 30, 2001.

         Borrower has informed the Agent and the Banks that the Consolidated
Fixed Charge Coverage Ratio of A.B. Dick as at the end of the period beginning
January 1, 2001 and ending June 30, 2001, was approximately -0.25 which amount
violated Section 8.4(b)(ii) of the Credit Agreement and resulted in an Event of
Default. The Agent and the Banks hereby waive such Event of Default resulting
from the violation of Section 8.4(b)(ii) of the Credit Agreement for the period
beginning January 1, 2001 and ending June 30, 2001.

         The waivers granted herein are contingent upon the payment to the Agent
of an administration fee of Two Thousand Five Hundred Dollars ($2,500). All
waivers granted herein

                                       25
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are limited strictly to their respective terms, shall apply only to the specific
waivers described herein, shall not extend to or affect any of the Borrower's
other obligations contained in the Credit Agreement or any of the other
financing documents and shall not impair any rights consequent thereon. Except
as expressly set forth herein, nothing contained herein shall be deemed to be a
waiver of, or shall in any way impair or prejudice, any rights of the Agent or
the Banks under the Credit Agreement. Neither the Agent nor any Bank shall have
any obligation to issue any other or further waivers with respect to the subject
matter hereof or any other matter, and, except as expressly provided herein, the
Credit Agreement and all documents, instruments and agreements related thereto
are hereby ratified and confirmed in all respects and shall continue in full
force and effect.

         The effectiveness of this waiver is conditioned upon the Agent's
receipt of the attached acknowledgment and consent executed by the Borrower.

Sincerely,

KEY CORPORATE CAPITAL INC., as Agent     KEY CORPORATE CAPITAL INC., as a Bank

By: /s/ Daniel S. Moskowitz                 By: /s/ Daniel S. Moskowitz
   ---------------------------------        ---------------------------------
Its: Assistant Vice President               Its: Assistant Vice President
    --------------------------------            -----------------------------

                                         KEY CORPORATE CAPITAL INC., as a Letter
                                         of Credit Bank

                                         By: /s/ Daniel S. Moskowitz
                                            ---------------------------------
                                         Its: Assistant Vice President
                                             --------------------------------

                                       26
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                           ACKNOWLEDGMENT AND CONSENT
         As of the date of this Acknowledgment and Consent, Borrower has no
defenses, claims, counterclaims or setoffs with respect to the Credit Agreement
or its Obligations thereunder or with respect to any actions of the Agent, any
Bank or any of their respective officers, directors, shareholders, employees,
agents or attorneys, and Borrower irrevocably and absolutely waives any such
defenses, claims, counterclaims and setoffs and releases the Agent, the Banks
and each of their respective officers, directors, shareholders, employees,
agents and attorneys from the same.

                                  PARAGON CORPORATE HOLDINGS INC.

                                  By: /s/ Gregory T. Knipp
                                      --------------------------------
                                  Its: Vice President & Chief Financial Officer
                                      ------------------------------------------

Dated August 14, 2001.

                                       27

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