Document:

Amendment No. 1 to Commitment Agreement, dated June 29, 2004

 Exhibit 10.2 
  
 AMENDMENT NO. 1 TO COMMITMENT AGREEMENT 
  
 As of June 29, 2004 
  
 To the Subscribers under the 
 Commitment Agreement referred to below

  
 Ladies and Gentlemen: 
  
 Reference is made to the Commitment Agreement, dated as of February 23,
2004, entered into by and among Oglebay Norton Company and the other parties (the “Subscribers”) signatory thereto (the “Agreement”). Defined terms used but not otherwise defined herein shall have the meaning ascribed to them in
the Agreement. The Company has agreed to amend the Agreement (1) to provide for the sale of an additional $5 million of Preferred Shares to those Subscribers having a Standby Commitment, (2) to change the date on which the non-completion of the
Restructuring Transaction will become a Termination Event from August 31, 2004 to October 15, 2004, (3) to change the date prior to which the Registration Statement shall be declared effective from August 23, 2004 to September 23, 2004, (4) to
reflect the fact that the filing of the Registration Statement does not require the Bankruptcy Court’s prior authorization, (5) to reflect the fact that the shares of Common Stock to be issued to the holders of the Subordinated Notes may be
included in the Registration Statement, (6) to reflect the fact that no stockholders agreement shall be entered into among the Subscribers and the Company and that a registration rights agreement may be entered into among the Company and the
Subscribers under certain conditions set forth herein, and (7) to amend the provision that releases from its rights and obligations under the Agreement any Subscriber that does not consent to the amendment of the Agreement. The total of $85 million
of Preferred Shares will represent approximately 74.4% of the equity of reorganized Oglebay before dilution for the Management Options and the Warrants. 
  
 Upon receipt of the Requisite Subscribers’ consent as described herein, the Agreement shall be amended as follows: 
  
 1. Paragraph (D) of the Preliminary Statements of the Agreement shall be
amended by adding thereto the following: 
  
 “In addition,
the Company will issue and sell to those holders of Subordinated Notes having a Standby Commitment (as defined herein) and the Third Party Investors, and those holders of Subordinated Notes and Third Party Investors shall purchase, additional
Preferred Shares for an aggregate purchase price of $5 million.” 

 As of June 29, 2004 
 Page 2

  
 2. The following sentence is added as the penultimate sentence
of Section 1(a) of the Agreement: 
  
 “In addition to the
Preferred Shares having an aggregate purchase price of $80 million that are subject to the Offering and notwithstanding the provisions of Exhibit A to this Agreement, each Noteholder having a Standby Commitment and each Third Party Investor agrees
to purchase, and the Company agrees to issue and sell to such Noteholders and Third Party Investors, a pro rata portion of that number of Preferred Shares having an aggregate purchase price of $5 million, such pro rata
portions to be based upon such Subscribers’ respective Standby Commitment Amounts.” 
  
 3. The references to “$80 million” in Section 1(b) of the Agreement and under “Offering of New Convertible Preferred Stock” in Exhibit A of the Agreement shall be deleted and replaced by
“$85 million.” 
  
 4. The reference to “August 23,
2004” in Section 2 of the Agreement shall be deleted and replaced by “September 23, 2004.” 
  
 5. Sections 6(a)(xi) and (6(a)(xii) shall be deleted in their entirety and replaced by the following: 
  
 “(xi) the issuance of the shares of Common Stock to the holders of the
Subordinated Notes in respect of the cancellation thereof in accordance with the Plan shall be exempt from the registration requirements of the Securities Act by virtue of Section 1145 of the Bankruptcy Code or shall be included in the Registration
Statement; and 
  
 (xii) if requested by the Requisite
Subscribers, the Company shall enter into customary registration rights agreement with any Subscribers or other persons who may be deemed to be underwriters providing demand and piggy-back registration rights, subject to customary restrictions, such
agreement to be reasonably satisfactory in form and substance to the Requisite Subscribers.” 
  
 6. Section 6(b)(i) of the Agreement shall be deleted in its entirety and replaced by the following: “(i) [intentionally omitted].” 

 
 7. Section 7(a)(vii) of the Agreement shall be deleted in its entirety and
replaced by the following: 
  
 “(vii) the Restructuring
Transaction is not completed by October 15, 2004” 

 As of June 29, 2004 
 Page 3

  
 8. The second sentence of Section 8 of the Agreement shall be
deleted in its entirety and replaced by the following: 
  
 “Notwithstanding the foregoing, no such amendment of this Agreement or any waiver or consent hereunder shall, unless in writing and signed by a Subscriber affected thereby, be effective as to such Subscriber to do any of the following:
(i) increase or decrease the Commitment Amount or decrease the Commitment Fee of such Subscriber; (ii) decrease the percentage ownership specified under “Existing Senior Subordinated Notes” in Exhibit A to the Agreement; (iii)
change the definition of “Required Subscribers”; or (iv) amend this Section 8 of the Agreement.” 
  
 9. In order to give effect to the increase from $80 million to $85 million the aggregate purchase price of the Preferred Shares to be purchased by the
Subscribers in accordance with Section 1(a) of the Agreement, as amended hereby, the respective Commitment Amounts and Commitment Fees of those Subscribers listed on Schedule I attached hereto shall be increased to the respective Increased
Commitment Amounts and Increased Commitment Fees set forth opposite the names of such Subscribers on Schedule I. 
  
 The delivery to the Company of this letter duly executed by you will evidence your agreement to the amendments to the Agreement set forth above. These
amendments will become effective upon delivery to the Company of copies of this letter duly executed by the Requisite Subscribers. If the Company does not receive a copy of this letter duly executed by you, you will be deemed not to have consented
to the proposed amendments set forth in this letter and will be released from all of your rights and obligations under the Agreement in accordance with Section 8. 
  
 The provisions of Section 14 of the Agreement relating to counterparts and facsimile signatures shall be applicable to this
Amendment No. 1 to the Agreement. 

 As of June 29, 2004 
 Page 4

  
 Except as amended hereby, the Agreement shall remain in full
force and effect in accordance with its terms. 
  

			
	 Very truly yours,

	
	 OGLEBAY NORTON COMPANY

		
	 By:
	 	 /s/ Julie Boland

	 Name:
	 	 Julie Boland

	 Title:
	 	 Vice President, Chief Financial
 Officer and Treasurer

  

 NOTEHOLDERS: 
  
 SUBSCRIBERS 
  

					
	Airlie Opportunity Fund, L.P.	 	 
			
	 By:
	 	 /s/ Adam Goodfriend

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $3,705,000
  
 Commitment Amount:
 $7,870,326
  
 Commitment Fee:
 $304,596

	 Name:
	 	 Adam Goodfriend
	 
	 Title:
	 	 Managing Director
	 
	  
 Address:

c/o Airlie Opportunity Fund, L.P.
 115 East Putnam Avenue
 Greenwich, CT 06830
 Fax: (203) 661-0479
	 
		
	Airlie Opportunity Fund Cayman, LTD	 	 
			
	 By:
	 	 /s/ Adam Goodfriend

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $1,045,000
  
 Commitment Amount:
 $2,219,836
  
 Commitment Fee:
 $85,912

	 Name:
	 	 Adam Goodfriend
	 
	 Title:
	 	 Managing Director
	 
	  
 Address:

c/o Airlie Opportunity Fund Cayman, LTD
 115 East Putnam Avenue
 Greenwich, CT 06830
 Fax: (203) 661-0479
	 
		
	Robert T. Clutterbuck Trust	 	 
			
	 By:
	 	 /s/ Robert T. Clutterbuck

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $655,000
  
 Commitment Amount:
 $524,000
  
 Commitment Fee:
 $10,480

	 Name:
	 	 Robert T. Clutterbuck
	 
	 Title:
	 	 Trustee
	 
	  
 Address:

Kensington Oval
 Rocky River, OH 44116
 Fax: (440) 356-5259
	 

 As of June 29, 2004 
 Page 6

  

					
	Thomas G. Berlin	 	 
		
	 /s/ Thomas G. Berlin

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $7,120,000
  
 Commitment Amount:
 $10,650,361
  
 Commitment Fee:
 $361,638

	  
 Address:

23811 Chagrin Blvd. 275
 Beachwood, OH 44122
 Fax: (216) 514-3344
	 
		
	Stifel Nicolaus & Company, Incorporated	 	 
			
	 By:
	 	 /s/ Ronald J. Kruszewski

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $655,000
  
 Commitment Amount:
 $524,000
  
 Commitment Fee:
 $10,480

	 Name:
	 	 Ronald J. Kruszewski
	 
	 Title:
	 	 Chairman and Chief Executive Officer
	 
	  
 Address:

501 N. Broadway
 St. Louis, MO 63102
 Fax: (314) 342-2115
	 
		
	Christopher R. Siegel	 	 
			
	 By:
	 	 /s/ Christopher R. Siegel

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $300,000
  
 Commitment Amount:
 $792,399
  
 Commitment Fee:
 $32,420

	  
 Address:

c/o Ingalls & Snyder LLC
 61 Broadway
 New York, NY 10006
 Fax: (212) 269-4177
	 

 As of June 29, 2004 
 Page 7

  

					
	H. Sheppard Boone	 	 
			
	 By:
	 	 /s/ H. Sheppard Boone

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $400,000
  
 Commitment Amount:
 $871,859
  
 Commitment Fee:
 $33,993

	  
 Address:

c/o Ingalls & Snyder LLC
 61 Broadway
 New York, NY 10006
 Fax: (212) 269-4177
	 
		
	Neil Janovic	 	 
			
	 By:
	 	 /s/ Neil Janovic

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $400,000
  
 Commitment Amount:
 $320,000
  
 Commitment Fee:
 $6,400

	  
 Address:

c/o Ingalls & Snyder LLC
 61 Broadway
 New York, NY 10006
 Fax: (212) 269-4177
	 
		
	Adam Janovic	 	 
			
	 By:
	 	 /s/ Adam Janovic

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $150,000
  
 Commitment Amount:
 $120,000
  
 Commitment Fee:
 $2,400

	  
 Address:

c/o Ingalls & Snyder LLC
 61 Broadway
 New York, NY 10006
 Fax: (212) 269-4177
	 

 As of June 29, 2004 
 Page 8

  

					
	Thomas Boucher	 	 
			
	By:	 	 /s/ Thomas Boucher

	 	 Principal Amount of Subordinated Notes
 Beneficially
Owned:

	  
 Address:
 c/o Ingalls & Snyder LLC
 61 Broadway
 New York, NY 10006
 Fax: (212) 269-4177
	 	 $10,000
  
 Commitment Amount:
 $597,423
  
 Commitment Fee:
 $29,631

		
	Thomas DiTosto	 	 
			
	By:	 	 /s/ Thomas DiTosto

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $320,000
  
 Commitment Amount:
 $807,183
  
 Commitment Fee:
 $32,679

	  
 Address:
 c/o Ingalls & Snyder LLC
 61 Broadway
 New York, NY 10006
 Fax: (212) 269-4177
	 
		
	Connecticut General Life Insurance	 	 
			
	By:	 	 /s/ Leon Meyers

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $2,000,000
  
 Commitment Amount:
 $1,600,000
  
 Commitment Fee:
 $32,000

	Name:	 	Leon Meyers	 
	Title:	 	Senior Vice President	 
	  
 Address:
 c/o Ingalls & Snyder LLC
 61 Broadway
 New York, NY 10006
 Fax: (212) 269-4177
	 

 As of June 29, 2004 
 Page 9 
  

					
	Evan Janovic	 	 
			
	 By:
	 	 /s/ Evan Janovic

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $300,000
  
 Commitment Amount:
 $240,000
  
 Commitment Fee:
 $4,800

	  
 Address:

c/o Ingalls & Snyder LLC
 61 Broadway
 New York, NY 10006
 Fax: (212) 269-4177
	 
		
	Robert Altman	 	 
			
	 By:
	 	 /s/ Ronald Altman

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $500,000
  
 Commitment Amount:
 $400,000
  
 Commitment Fee:
 $8,000

	  
 Address:

c/o Ingalls & Snyder LLC
 61 Broadway
 New York, NY 10006
 Fax: (212) 269-4177
	 
		
	John Dougherty	 	 
			
	 By:
	 	 /s/ John Dougherty

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $1,000,000
  
 Commitment Amount:
 $1,902,637
  
 Commitment Fee:
 $71,132

	  
 Address:

c/o Ingalls & Snyder LLC
 61 Broadway
 New York, NY 10006
 Fax: (212) 269-4177
	 

 As of June 29, 2004 
 Page 10 
  

					
	Ramer 1990 Living Trust	 	 
			
	 By:
	 	 /s/ Lawrence Ramer

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $200,000
  
 Commitment Amount:
 $160,000
  
 Commitment Fee:
 $3,000

	 Name:
	 	 Lawrence Ramer
	 
	 Title:
	 	 Trustee
	 
	  
 Address:

c/o Ingalls & Snyder LLC
 61 Broadway
 New York, NY 10006
 Fax: (212) 269-4177
	 
		
	Ingalls & Snyder Value Part. L.C.	 	 
			
	 By:
	 	 /s/ Thomas Boucher

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $8,700,000
  
 Commitment Amount:
 $20,988,419
  
 Commitment Fee:
 $840,621

	 Name:
	 	 Thomas Boucher
	 
	 Title:
	 	 General Partner
	 
	  
 Address:

c/o Ingalls & Snyder LLC
 61 Broadway
 New York, NY 10006
 Fax: (212) 269-4177
	 
		
	Shannah Ferguson	 	 
			
	 By:
	 	 /s/ Shannah Ferguson

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $620,000
  
 Commitment Amount:
 $496,000
  
 Commitment Fee:
 $9,920

	 	 	 	 
	  
 Address:

c/o Ingalls & Snyder LLC
 61 Broadway
 New York, NY 10006
 Fax: (212) 269-4177
	 

 As of June 29, 2004 
 Page 11 
  

					
	Theresa M. Foote	 	 
			
	 By:
	 	 /s/ Theresa M. Foote

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $400,000
  
 Commitment Amount:
 $320,000
  
 Commitment Fee:
 $6,400

	 	 
	  
 Address:

c/o Ingalls & Snyder LLC
 61 Broadway
 New York, NY 10006
 Fax: (212) 269-4177
	 
		
	Kenneth J. Foote IRA	 	 
			
	 By:
	 	 /s/ Kenneth J. Foote

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $100,000
  
 Commitment Amount:
 $80,000
  
 Commitment Fee:
 $1,600

	 Name:
	 	 Kenneth J. Foote
	 
	 	 	 	 
	  
 Address:

c/o Ingalls & Snyder LLC
 61 Broadway
 New York, NY 10006
 Fax: (212) 269-4177
	 
		
	William Robert Thomas Trust	 	 
			
	 By:
	 	 /s/ Shirley A. Foote

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $150,000
  
 Commitment Amount:
 $120,000
  
 Commitment Fee:
 $2,400

	 Name:
	 	 Shirley A. Foote
	 
	 Title:
	 	 Trustee
	 
	  
 Address:

c/o Ingalls & Snyder LLC
 61 Broadway
 New York, NY 10006
 Fax: (212) 269-4177
	 

 As of June 29, 2004 
 Page 12

  

					
	Abigail Foote Thomas Trust	 	 
			
	 By:
	 	 /s/ Shirley A. Foote

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $200,000
  
 Commitment Amount:
 $160,000
  
 Commitment Fee:
 $3,200

	 Name:
	 	 Shirley A. Foote
	 
	 Title:
	 	 Trustee
	 
	  
 Address:
	 
	 c/o Ingalls & Snyder LLC
	 
	 61 Broadway
	 
	 New York, NY 10006
	 
	 Fax: (212) 269-4177
	 
		
	Lynn Foote	 	 
			
	 By:
	 	 /s/ Lynn Foote

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $100,000
  
 Commitment Amount:
 $544,836
  
 Commitment Fee:
 $24,842

	 	 	 	 
	 Address:
	 
	 c/o Ingalls & Snyder LLC
	 
	 61 Broadway
	 
	 New York, NY 10006
	 
	 Fax: (212) 269-4177
	 
	 	 
	 	 
		
	Steadfast LLC	 	 
			
	 By:
	 	 /s/ Steven M. Foote

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $100,000
  
 Commitment Amount:
 $80,000
  
 Commitment Fee:
 $1,600

	 Name:
	 	 Steven M. Foote
	 
	 Title:
	 	 Manager
	 
	  
 Address:
	 
	 c/o Ingalls & Snyder LLC
	 
	 61 Broadway
	 
	 New York, NY 10006
	 
	 Fax: (212) 269-4177
	 

 As of June 29, 2004 
 Page 13

  

					
	Blythefield Farms LLC	 	 
			
	 By:
	 	 /s/ Kenneth J. Foote

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $100,000
  
 Commitment Amount:
 $80,000
  
 Commitment Fee:
 $1,600

	 Name:
	 	 Kenneth J. Foote
	 
	 Title:
	 	 Manager
	 
	  
 Address:
	 
	 c/o Ingalls & Snyder LLC
	 
	 61 Broadway
	 
	 New York, NY 10006
	 
	 Fax: (212) 269-4177
	 
		
	Richard Groenendyke	 	 
			
	 By:
	 	 /s/ Richard Groenendyke

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $120,000
  
 Commitment Amount:
 $96,000
  
 Commitment Fee:
 $1,920

	 	 	 	 
	 Address:
	 
	 c/o Ingalls & Snyder LLC
	 
	 61 Broadway
	 
	 New York, NY 10006
	 
	 Fax: (212) 269-4177
	 
	 	 	 	 
	 	 	 	 
	Heritage Mark Foundation	 	 
			
	 By:
	 	 /s/ Kenneth J. Foote

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $2,300,000
  
 Commitment Amount:
 $1,840,000
  
 Commitment Fee:
 $36,800

	 Name:
	 	 Kenneth J. Foote
	 
	 Title:
	 	 Trustee
	 
	  
 Address:
	 
	 c/o Ingalls & Snyder LLC
	 
	 61 Broadway
	 
	 New York, NY 10006
	 
	 Fax: (212) 269-4177
	 

 As of June 29, 2004 
 Page 14

  

					
	Bradford Shingleton Trust	 	 
			
	By:	 	 /s/ Brad Shingleton

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $175,000
  
 Commitment Amount:
 $140,000
  
 Commitment Fee:
 $2,800

	Name:	 	Brad Shingleton	 
	Title:	 	Trustee	 
	  
 Address:
	 
	c/o Ingalls & Snyder LLC	 
	61 Broadway	 
	New York, NY 10006	 
	Fax: (212) 269-4177	 
		
	Elizabeth A. Shingleton Trust	 	 
			
	By:	 	 /s/ Shirley A. Foote

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $100,000
  
 Commitment Amount:
 $80,000
  
 Commitment Fee:
 $1,600

	Name:	 	Shirley A. Foote	 
	Title:	 	Trustee	 
	  
 Address:
	 
	c/o Ingalls & Snyder LLC	 
	61 Broadway	 
	New York, NY 10006	 
	Fax: (212) 269-4177	 
		
	Jennifer C. Shingleton Trust	 	 
			
	By:	 	 /s/ Shirley A. Foote

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $100,000
  
 Commitment Amount:
 $80,000
  
 Commitment Fee:
 $1,600

	Name:	 	Shirley A. Foote	 
	Title:	 	Trustee	 
	  
 Address:
	 
	c/o Ingalls & Snyder LLC	 
	61 Broadway	 
	New York, NY 10006	 
	Fax: (212) 269-4177	 

 As of June 29, 2004 
 Page 15

  

					
	Rebecca M. Shingleton Trust	 	 
			
	By:	 	 /s/ Shirley A. Foote

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $75,000
  
 Commitment Amount:
 $60,000
  
 Commitment Fee:
 $1,200

	Name:	 	Shirley A. Foote	 
	Title:	 	Trustee	 
	  
 Address:
	 
	c/o Ingalls & Snyder LLC	 
	61 Broadway	 
	New York, NY 10006	 
	Fax: (212) 269-4177	 
		
	Brad Shingleton	 	 
			
	By:	 	 /s/ Brad Shingleton

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $150,000
  
 Commitment Amount:
 $120,000
  
 Commitment Fee:
 $2,400

	 	 	 	 
	Address:	 
	c/o Ingalls & Snyder LLC	 
	61 Broadway	 
	New York, NY 10006	 
	Fax: (212) 269-4177	 
	 	 	 	 
	 	 	 	 
		
	David Shuldiner	 	 
			
	By:	 	 /s/ David Shuldiner

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $75,000
  
 Commitment Amount:
 $60,000
  
 Commitment Fee:
 $1,200

	 	 	 	 
	Address:	 
	c/o Ingalls & Snyder LLC	 
	61 Broadway	 
	New York, NY 10006	 
	Fax: (212) 269-4177	 
	 	 	 	 
	 	 	 	 

 As of June 29, 2004 
 Page 16

  

					
	Kenneth P. Singleton	 	 
			
	By:	 	 /s/ Kenneth P. Singleton

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $100,000
  
 Commitment Amount:
 $80,000
  
 Commitment Fee:
 $1,600

	 	 	 	 
	Address:	 
	c/o Ingalls & Snyder LLC	 
	61 Broadway	 
	New York, NY 10006	 
	Fax: (212) 269-4177	 
	 	 
	 	 
		
	CFG Trust	 	 
			
	By:	 	 /s/ Cheryl F. Groenendyke

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $250,000
  
 Commitment Amount:
 $200,000
  
 Commitment Fee:
 $4,000

	Name:	 	Cheryl F. Groenendyke	 
	Title:	 	Trustee	 
	  
 Address:
	 
	c/o Ingalls & Snyder LLC	 
	61 Broadway	 
	New York, NY 10006	 
	Fax: (212) 269-4177	 
		
	Martin L. Solomon	 	 
			
	By:	 	 /s/ Martin L. Solomon

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $150,000
  
 Commitment Amount:
 $1,094,264
  
 Commitment Fee:
 $51,113

	 	 	 	 
	Address:	 
	c/o Ingalls & Snyder LLC	 
	61 Broadway	 
	New York, NY 10006	 
	Fax: (212) 269-4177	 
	 	 	 	 
	 	 	 	 

 As of June 29, 2004 
 Page 17 
  

					
	 WCI Steel, Inc. Defined Pension Benefit Plan
 By: Banc One High Yield Partners, LLC
	 	 
			
	 By:
	 	 /s/ James P. Shanahan, Jr.

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $100,000
  
 Commitment Amount
 $80,000
  
 Commitment Fee:
 $1,600

	 Name:
	 	 James P. Shanahan, Jr.
	 
	 Title:
	 	 Manager
	 
	  
 Address:
	 
	 c/o Banc One High Yield Partners, LLC
	 
	 8044 Montgomery Rd.
	 
	 Suite 555
	 
	 Cincinnati, OH 45236
	 
	 Fax: (513) 985-3217
	 
	 
		
	 Legacy Aggressive High Yield Fund
 By: Banc One High Yield Partners, LLC
	 	 
			
	 By:
	 	 /s/ James P. Shanahan, Jr.

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $150,000
  
 Commitment Amount:
 $120,000
  
 Commitment Fee:
 $2,400

	 Name:
	 	 James P. Shanahan, Jr.
	 
	 Title:
	 	 Managing Director/General Counsel
	 
	  
 Address:
	 
	 c/o Banc One High Yield Partners, LLC
	 
	 8044 Montgomery Rd.
	 
	 Suite 555
	 
	 Cincinnati, OH 45236
	 
	 Fax: (513) 985-3217
	 
		
	 Southern UTE Permanent Fund
 By:
Banc One High Yield Partners, LLC
	 	 
			
	 By:
	 	 /s/ James P. Shanahan, Jr.

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $151,000
  
 Commitment Amount:
 $120,800
  
 Commitment Fee:
 $2,416

	 Name:
	 	 James P. Shanahan, Jr.
	 
	 Title:
	 	 Manager
	 
	  
 Address:
	 
	 c/o Banc One High Yield Partners, LLC
	 
	 8044 Montgomery Rd.
	 
	 Suite 555
	 
	 Cincinnati, OH 45236
	 
	 Fax: (513) 985-3217
	 

 As of June 29, 2004 
 Page 18

  

					
	 Southern UTE Growth Fund
 By: Banc
One High Yield Partners, LLC
	 	 
			
	By:	 	 /s/ James P. Shanahan, Jr.

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $90,000
  
 Commitment Amount:
 $72,000
  
 Commitment Fee:
 $1,440

	Name:	 	James P. Shanahan, Jr.	 
	Title:	 	Manager	 
	  
 Address:
	 
	c/o Banc One High Yield Partners, LLC	 
	8044 Montgomery Rd.	 
	Suite 555	 
	Cincinnati, OH 45236	 
	Fax: (513) 985-3217	 	 
		
	 Pacholder High Yield Fund, Inc.
 By: Banc One High Yield Partners, LLC
	 	 
			
	By:	 	 /s/ James P. Shanahan, Jr.

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $2,250,000
  
 Commitment Amount:
 $2,563,473
  
 Commitment Fee:
 $74,174

	Name:	 	James P. Shanahan, Jr.	 
	Title:	 	Secretary	 
	  
 Address:
	 
	c/o Banc One High Yield Partners, LLC	 
	8044 Montgomery Rd.	 
	Suite 555	 
	Cincinnati, OH 45236	 
	Fax: (513) 985-3217	 
		
	 One Group Income Bond Fund
 By:
Banc One High Yield Partners, LLC
	 	 
			
	By:	 	 /s/ James P. Shanahan, Jr.

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $500,000
  
 Commitment Amount:
 $400,000
  
 Commitment Fee:
 $8,000

	Name:	 	James P. Shanahan, Jr.	 
	Title:	 	Manager	 
	  
 Address:
	 
	c/o Banc One High Yield Partners, LLC	 
	8044 Montgomery Rd.	 
	Suite 555	 
	Cincinnati, OH 45236	 
	Fax: (513)-985-3217	 

 As of June 29, 2004 
 Page 19

  

					
	 One Group High Yield Bond Fund
 By:
Banc One High Yield Partners, LLC
	 	 
			
	By:	 	 /s/ James P. Shanahan, Jr.

	 	 Principal Amount of Subordinated Notes
 Beneficially Owned:
 $4,250,000
  
 Commitment Amount:
 $6,487,528
  
 Commitment Fee
 $222,376

	Name:	 	James P. Shanahan, Jr.	 
	Title:	 	Manager	 
	  
 Address:
	 
	c/o Banc One High Yield Partners, LLC	 
	8044 Montgomery Rd.	 
	Suite 555	 
	Cincinnati, OH 45236	 
	Fax: (513)-985-3217	 
		
	THIRD PARTY INVESTORS	 	 
		
	John Stein	 	 
			
	By:	 	 /s/ John Stein

	 	 Commitment Amount:
 $1,008,039
  
 Commitment Fee:
 $55,402

	  
 Address:
	 
	507 Carew Tower	 
	Cincinnati, OH 45202	 
	Fax: (513)-241-1026	 
		
	Steven N. Stein	 	 
			
	By:	 	 /s/ Steven N. Stein

	 	 Commitment Amount:
 $1,108,039
  
 Commitment Fee:
 $55,402

	  
 Address:
	 
	507 Carew Tower	 
	Cincinnati, OH 45202	 
	Fax: (513) 241-1026	 

 As of June 29, 2004 
 Page 20

  

					
	Robert L. Gipson	 	 
			
	 By:
	 	 /s/ Robert L. Gipson

	 	 Commitment Amount:
 $3,324,116
  
 Commitment Fee:
 $166,206

	 	 	 	 
	 Address:
	 
	 c/o Ingalls & Snyder LLC
	 
	 61 Broadway
	 
	 New York, NY 10006
	 	 
	 Fax: (212) 269-4177
	 	 
		
	Thomas L. Gipson	 	 
			
	 By:
	 	 /s/ Thomas L. Gipson

	 	 Commitment Amount:
 $3,324,116
  
 Commitment Fee:
 $166,206

	 	 	 	 
	 Address:
	 
	 c/o Ingalls & Snyder LLC
	 
	 61 Broadway
	 
	 New York, NY 10006
	 	 
	 Fax: (212) 269-4177
	 	 
		
	Gator Investment Company	 	 
			
	 By:
	 	 /s/ Adam Janovic

	 	 Commitment Amount:
 $1,108,039
  
 Commitment Fee:
 $55,402

	 Name:
	 	 Adam Janovic
	 
	 Title:
	 	 Member
	 
	 	 	 	 
	 Address:
	 
	 c/o Ingalls & Snyder LLC
	 	 
	 61 Broadway
	 	 
	 New York, NY 10006
	 	 
	 Fax: (212) 269-4177
	 	 

 As of June 29, 2004 
 Page 21 
  

					
	Fledgling Associates LLC	 	 
			
	 By:
	 	 /s/ Edward Stern

	 	 Commitment Amount:
 $5,540,194
  
  
 Commitment Fee:
 $277,010

	 Name:
	 	 Edward Stern
	 
	 Title:
	 	 Manager
	 
	  
 Address:
	 
	 c/o Ingalls & Snyder LLC
	 
	 61 Broadway
	 
	 New York, NY 10006
	 
	 Fax: (212) 269-4177
	 
		
	Nikolaos Monoyios	 	 
			
	 By:
	 	 /s/ Nikolaos Monoyios

	 	 Commitment Amount:
 $3,324,116
  
 Commitment Fee:
 $166,206

	 	 
	  
 Address:
	 
	 c/o Ingalls & Snyder LLC
	 
	 61 Broadway
	 
	 New York, NY 10006
	 
	 Fax: (212) 269-4177
	 

 SCHEDULE I 
  

										
	 Subscriber

	  	 Principal Amount of
 Subordinated Notes
 Beneficially Owned

	  	 Increased
 Commitment Amount

	  	 Increased
 Commitment Fee

	Noteholders	  	 	 	  	 	 	  	 	 
	 Airlie Opportunity Fund, L.P.
	  	$	3,705,000	  	$	7,870,326	  	$	304,596
	 Airlie Opportunity Fund Cayman, LTD
	  	$	1,045,000	  	$	2,219,836	  	$	85,912
	 Thomas G. Berlin
	  	$	7,120,000	  	$	10,650,361	  	$	361,638
	 Christopher R. Siegel
	  	$	300,000	  	$	792,399	  	$	32,420
	 H. Sheppard Boone
	  	$	400,000	  	$	871,859	  	$	33,993
	 Thomas Boucher
	  	$	10,000	  	$	597,423	  	$	29,631
	 Thomas DiTosto
	  	$	320,000	  	$	807,183	  	$	32,679
	 John Dougherty
	  	$	1,000,000	  	$	1,902,637	  	$	71,132
	 Ingalls & Snyder Value Part. L.C.
	  	$	8,700,000	  	$	20,988,419	  	$	840,621
	 Lynn Foote
	  	$	100,000	  	$	544,836	  	$	24,842
	 Martin L. Solomon
	  	$	150,000	  	$	1,094,264	  	$	51,113
	 Pacholder High Yield Fund, Inc.
	  	$	2,250,000	  	$	2,563,473	  	$	74,174
	 One Group High Yield Bond Fund
	  	$	4,250,000	  	$	6,487,528	  	$	222,376
				
	Third Party Investors	  	 	 	  	 	 	  	 	 
	 John Stein
	  	 	 	  	$	1,108,039	  	$	55,402
	 Steven N. Stein
	  	 	 	  	$	1,108,039	  	$	55,402
	 Robert L. Gipson
	  	 	 	  	$	3,324,116	  	$	166,206
	 Thomas L. Gipson
	  	 	 	  	$	3,324,116	  	$	166,206
	 Gator Investment Company
	  	 	 	  	$	1,108,039	  	$	55,402
	 Fledgling Associates LLC
	  	 	 	  	$	5,540,194	  	$	277,010
	 Nikolaos Monoyios
	  	 	 	  	$	3,324,116	  	$	166,206Amendment No. 2 to Commitment Agreement, dated November 15, 2004

 Exhibit 10.3 
  
 AMENDMENT NO. 2 TO COMMITMENT AGREEMENT 
  
 As of November 15, 2004 
  
 To the Subscribers under the 
 Commitment Agreement referred to below

  
 Ladies and Gentlemen: 
  
 Reference is made to the Commitment Agreement, dated as of February 23,
2004, entered into by and among Oglebay Norton Company and the other parties (the “Subscribers”) signatory thereto, as amended by Amendment No. 1 to the Commitment Agreement, dated as of June 29, 2004 (the “Agreement”). Defined
terms used but not otherwise defined herein shall have the meaning ascribed to them in the Agreement. 
  
 In connection with the Company’s Second Amended Joint Plan of Reorganization of Debtors and Debtors in Possession as modified and dated July 30, 2004
and as further modified and filed with or submitted to the Bankruptcy Court on September 24, September 28 and October 1, 2004 (the “Plan Modifications”) (as so modified, the “Amended Plan”) and the approval by the Bankruptcy
Court on August 4, 2004 of the Second Amended Disclosure Statement Pursuant to Section 1125 of the Bankruptcy Code for the Amended Plan, as modified and dated July 30, 2004 (the “Disclosure Statement”), the parties have agreed to amend the
Agreement (1) to accurately reflect the treatment of the holders of claims under the MLO Contract in the Amended Plan, (2) to accurately reflect the treatment of the Senior Notes in the Amended Plan, (3) to accurately reflect the treatment of the
Subordinated Notes in the Amended Plan, (4) to amend the Company’s obligation with respect to the exit financing contemplated by the Silverpoint Commitment Letter, (5) to include the agreement of the Subscribers to support confirmation and
consummation of the Amended Plan, (6) to amend and restate the terms of the Offering and the conditions precedent to the Subscribers’ obligation to perform their obligations under the Agreement, (7) to change the date on which the
non-completion of the Restructuring Transaction will become a Termination Event from October 15, 2004 to December 15, 2004, (8) to change the date prior to which the Registration Statement relating to the Offering shall be declared effective from
September 23, 2004 to November 15, 2004, (9) to acknowledge the discussions and negotiations being conducted with certain third parties and the existence of certain objections to the Amended Plan as well as the adversary proceeding commenced against
the Company and others by certain holders of Senior Notes, (10) to amend Exhibit A to the Agreement to accurately reflect the Restructuring Terms as set forth and described in the Amended Plan and the Disclosure Statement (as modified by the Plan
Modifications) and (11) to amend and restate on Schedule 1 attached hereto the respective beneficial ownership of Subordinated Notes, Commitment Amounts and Commitment Fees of each of the Subscribers as of the date hereof and reflect the
substitution as Noteholders of successors in interest to certain of the original Noteholders who were parties to the Agreement. 

 Upon receipt of the Requisite Subscribers’ consent as described herein, the Agreement shall be
amended as follows: 
  
 1. Preliminary Statement C of the
Agreement shall be deleted in its entirety and replaced by the following: 
  
 “Under the terms and upon the effective date of the Plan (the “Effective Date”), (i) existing classes of equity in the Company and interests therein will be cancelled and the holders thereof will
receive the treatment provided for in the Term Sheet, and (ii) the Company’s 10% Senior Subordinated Notes due 2009 (the “Subordinated Notes”) will be cancelled and the Company will, in exchange therefore, issue shares of
common stock of the reorganized Company (the “Common Stock”) as contemplated in the Amended Plan and the Disclosure Statement (as modified by the Plan Modifications). The Company and the Subscribers agree that the MLO earn-out
contract claims under the Interest Purchase Agreement among the Company, Johnson Mining, Inc., The Cary Mining Company Inc., Michigan Minerals Associates, Inc., and Michigan Limestone Operations Limited Partnership, dated April 14, 200 (the
“MLO Contract”), should be amended as described in the Disclosure Statement and, as of the Effective Date, should be assumed by the reorganized Company.” 
  
 2. Preliminary Statement D of the Agreement shall be deleted in its entirety and replaced by the following: 
  
 “In connection with the Amended Plan, the Company will implement, among
other things, an offering (the “Offering”) registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to which the Company will extend to the holders of the Subordinated Notes not party
to this Agreement the right to subscribe for their pro rata share (based on their respective beneficial ownership of the total of $100 million principal amount of outstanding Subordinated Notes) of $80 million of shares of convertible
preferred stock of the reorganized Company (the “Preferred Shares”) having the rights and preferences set forth in the Term Sheet attached hereto as Exhibit A (the “Term Sheet”). Pursuant to this Agreement, the
Company will offer and sell to (i) holders of Subordinated Notes party to this Agreement their pro rata share of $80 million of Preferred Shares and (ii) holders of Subordinated Notes and Third Party Investors parties to this Agreement
having Standby Commitments (as defined herein) the Preferred Shares not subscribed for in the Offering, and those holders of Subordinated Notes and Third Party Investors will purchase such Preferred Shares. In addition, the Company will offer and
sell to those holders of Subordinated Notes and Third Party Investors having Standby Commitments, and those holders of Subordinated Notes and Third Party Investors will purchase, additional Preferred Shares for an aggregate purchase price of $5
million. The Company will offer and sell 
  

 2 

 those Preferred Shares under this Agreement in reliance on Section 4(2) of the Securities Act. In
addition, the Company will prepare and file with the Securities and Exchange Commission (the “SEC”) a resale registration statement covering the Preferred Shares sold pursuant to this Agreement and the underlying Common Stock (the
“Resale Registration Statement”).” 
  
 3.
Preliminary Statement E of the Agreement shall be deleted in its entirety and replaced by the following: 
  
 “E. The Noteholders hold the principal amount of Subordinated Notes set forth opposite their respective names on Schedule 1 to Amendment No. 2 of
this Agreement, which represents approximately 37.3% of the aggregate amount of Subordinated Notes outstanding.” 
  
 4. Preliminary Statement F of the Agreement shall be deleted in its entirely and replaced by the following: 
  
 “F. The proceeds from the issuance of the Preferred Shares will be used
to fund the redemption of the Company’s outstanding Senior Secured Notes due 2008 (the “Senior Notes”), subsequent to their reinstatement on the Effective Date pursuant to the Amended Plan.” 
  
 5. Section 1(a) of the Agreement shall be deleted in its entirety and
replaced by the following: 
  
 “(a) Each Noteholder agrees
to purchase that number of Preferred Shares having an aggregate Purchase Price (defined below) equal to such Noteholder’s pro rata share of $80 million based on such Noteholder’s respective beneficial ownership of $100
million principal amount of outstanding Subordinated Notes as set forth opposite their respective names on Schedule 1 to Amendment No. 2 to this Agreement (the “Basic Commitment Amount”). In addition, each Noteholder and each Third
Party Investor agrees to purchase (the “Standby Commitment”) Preferred Shares issuable pursuant to the Offering that are not subscribed for and purchased by holders of the Subordinated Notes other than the Noteholders
(“Unsubscribed Shares”) having an aggregate Purchase Price (the “Standby Commitment Amount”) determined as follows: (i) each Noteholder’s Standby Commitment shall equal up to that number of Unsubscribed Shares
having an aggregate Purchase Price equal to the difference between (x) such Noteholder’s Commitment Amount set forth opposite its name on Schedule 1 to Amendment No. 2 to this Agreement and (y) such Noteholder’s Basic Commitment Amount set
forth opposite its name on Schedule 1 to Amendment No. 2 to this Agreement; and (ii) each Third-Party Investor’s Standby Commitment shall equal up to that number of Unsubscribed Shares having an aggregate Purchase Price equal to such
Third-Party Investor’s Commitment Amount set forth opposite its 
  

 3 

 name on Schedule 1 to Amendment No. 2 to this Agreement. If the aggregate Purchase Price of the
Unsubscribed Shares is less than the aggregate Standby Commitment Amounts of the Noteholders and Third-Party Investors, the Unsubscribed Shares shall be allocated to the Noteholders and the Third-Party Investors pro rata based upon the
amounts of their respective Standby Commitment Amounts. In addition to the Preferred Shares having an aggregate purchase price of $80 million that are subject to the Offering and the Noteholders’ Basic Commitment Amount and notwithstanding the
provisions of Exhibit A to this Agreement, each Noteholder having a Standby Commitment and each Third Party Investor agrees to purchase, and the Company agrees to issue and sell to such Noteholders and Third Party Investors, a pro rata
portion of that number of Preferred Shares having an aggregate purchase price of $5 million, such pro rata portions to be based upon such Subscribers’ respective Standby Commitment Amounts. For the avoidance of doubt, in no event
shall any Subscriber be obligated to purchase Preferred Shares for an aggregate Purchase Price in excess of such Subscriber’s Commitment Amount.” 
  
 6. Section 1(c) of the Agreement shall be deleted in its entirety and replaced by the following: 
  
 “(c) Use of Proceeds. The proceeds from the issuance and sale of
the Preferred Shares will be applied by the Company to the redemption of the Senior Notes, subsequent to their reinstatement on the Effective Date pursuant to the Amended Plan.” 
  
 7. Section 2 of the Agreement shall be deleted in its entirety and replaced by the following: 
  
 “The offer and sale of the Preferred Shares to holders of the
Subordinated Notes not party to this Agreement will be registered under the Securities Act. The Company agrees, unless waived by Subscribers representing two-thirds of the aggregate Commitment Amounts pursuant to this Agreement (the
“Requisite Subscribers”), to prepare and file with the SEC an amendment to the registration statement under the Securities Act with respect to the Offering of the Preferred Shares (the “Registration Statement”) as
soon as practicable and to use its reasonable best efforts to cause the Registration Statement to become effective as soon as possible thereafter and, in any event, prior to November 15, 2004 (or such later date as may be reasonably requested and
agreed by the Requisite Subscribers). The terms and conditions of the Offering will be consistent with the Restructuring Terms, including the deposit of the Purchase Price and stock certificates, to the extent applicable, representing the Preferred
Shares in escrow until the Effective Date or termination of the Plan by the Company. In addition, the Company agrees to prepare and file with the SEC as soon as practicable the Resale Registration Statement and to use 
  

 4 

 its reasonable best efforts to cause the Resale Registration Statement to become effective on the
Effective Date. Pursuant to the Amended Plan, on the Effective Date the Company will enter into a registration rights agreement substantially in the form of Exhibit B to Amendment No. 2 to this Agreement. The Company will afford the Subscribers and
their counsel and financial advisors the opportunity to review and comment on the Registration Statement, the Resale Registration Statement and any amendments or supplements thereto prior to the filing thereof with the SEC.” 
  
 8. Section 3(b) of the Agreement shall be amended by adding the following
proviso to the end thereof: 
  
 “provided,
however, that the fee of certain Third Party Investors shall be two percent (2%) as indicated on Schedule 1 to Amendment No. 2 to this Agreement.” 
  

9. Section 4(a) of the Agreement shall be amended by adding the following new sentence to the end thereof: 
  
 “The foregoing representations and warranties do not take into account
(i) the objections filed by various parties to the Amended Plan, (ii) the adversary proceeding commenced against the Company and others by certain holders of the Senior Notes or (iii) the consequences of a ruling adverse to the Company in connection
with either such objections or such adversary proceeding.” 
  
 10. Section 5(a)(ii) of the Agreement shall be deleted in its entirety and replaced by the following: 
  
 “(ii) shall execute definitive agreements regarding the Confirmation Facility (as defined in the Amended Plan) consistent in all material respects
with the terms thereof attached as an Exhibit to the Amended Plan.” 
  
 11. Section 5(g) of the Agreement shall be deleted in its entirety and replaced by the following: 
  
 “(g) The parties agree to the amendment of the MLO Contract substantially as set forth in Exhibit III.C.2 to the Amended Plan and the assumption of
the MLO Contract as so amended on the Effective Date of the Plan.” 
  
 12. Section 5 of the Agreement shall be amended by adding the following new Section 5 (h) thereto: 
  
 “(h) Amended Plan Support. Each Noteholder shall take (and shall cause its affiliates to take) all necessary and appropriate actions to
support 
  

 5 

 confirmation and consummation of the Amended Plan containing terms and conditions consistent in all
material respects with the Amended Plan in accordance with the Bankruptcy Code as expeditiously as possible and shall not and shall cause its affiliates not to object, or solicit objections or support any such objection by a third party, to
confirmation of such Amended Plan; provided, however, that (i) nothing contained herein shall limit the ability of each Noteholder to consult with the Company or its representatives and advisors, or to appear and be heard, concerning any
matter arising in the Chapter 11 Cases (as defined in the Amended Plan) so long as such consultation or appearance is not inconsistent with the terms of such Amended Plan and this Agreement; and (ii) this Agreement shall not be construed to require
any Noteholder to support or have any obligation with respect to any plan other than such Amended Plan. Notwithstanding anything to the contrary herein, nothing herein shall require any Noteholder (or representative thereof that is also a director
or officer of the company or a member of a statutory committee established in the Chapter 11 Cases) to take or to refrain from taking any action (x) in such person’s capacity as such a director or officer or member to the extent required to
comply with their fiduciary obligations under law applicable to such director or officer or member (including the Bankruptcy Code) or (y) in connection with supporting, participating in, voting for or entering into an alternative proposal or plan
that a majority of the members of the Creditors’ Committee (as defined in the Amended Plan) who are not Noteholders determines, in good faith after consultation with its legal and/or financial advisors, is reasonably likely to be consummated
(taking into account all legal, financial, and regulatory aspects of the proposal) and is superior, from a financial point of view, to the holders of the Subordinated Notes.” 
  
 13. Section 6(a) of the Agreement shall be deleted in its entirety and replaced by the following: 
  
 6. Conditions Precedent. 
  
 (a) The obligation of each Subscriber to perform its
obligations hereunder shall be subject to the following conditions which can be waived only by the Requisite Subscribers: 
  
 (i) the fees and expenses referred to in Section 3(c) hereof shall have been paid in full; 
  
 (ii) the Company shall have entered into the Confirmation
Facility consistent in all material respects with the terms thereof filed as an Exhibit to the Amended Plan; 
  
 (iii) an amended plan, containing terms and conditions consistent in all material respects with the Amended Plan, shall have been

  

 6 

 confirmed by the Bankruptcy Court pursuant to an order (the “Confirmation Order”) that (x) is
consistent in all material respects with the Amended Plan, (y) contains a finding of ‘good faith’ with respect to the participation in the Amended Plan of each Noteholder and (z) does not modify in any respect the recoveries or the
treatment provided by such Amended Plan for Class 7 (Old Senior Subordinated Note Claims) or establish or permit any claim or encumbrance on any part of such recoveries (except as contemplated in the Amended Plan and the Disclosure Statement (as
modified by the Plan Modifications)), and such Confirmation Order shall have become a final order; 
  
 (iv) the Amended Plan shall be consummated on terms consistent in all material respects with the Amended Plan and the Disclosure Statement
(as modified by the Plan Modifications); 
  
 (v)
the representations and warranties of the Company contained herein shall be true and correct in all material respects on and as of the date hereof and the Effective Date, with the same force and effect as though made on and as of such date, except
to the extent that any representation or warranty is made as of a specified date, in which case such representation or warranty shall be true and correct as of such specified date, and the Company shall have performed or complied with, in all
material respects, its covenants required to be performed or complied with under this Agreement (and the Company shall have delivered to the Subscribers a certificate signed by an authorized executive to the effect that each of the conditions
specified in this subsection (a)(v) is satisfied in all respects); 
  
 (vi) the Registration Statement relating to the Offering shall have become effective and the issuance of the Preferred Shares issuable pursuant to the Offering (including the shares of Common Stock issuable upon
conversion thereof) shall have been duly registered under the Securities Act and the Offering shall have expired; 
  
 (vii) the Resale Registration Statement filed by the Company pursuant hereto shall have been amended to reflect the results of the
Offering and disclose the respective numbers of Preferred Shares being registered for resale on behalf of each of the Subscribers; 
  
 (viii) the Company shall have executed and delivered to the Subscribers a registration rights agreement substantially in the form attached
as Exhibit B to Amendment No. 2 to this Agreement; and 
  
 (ix) the issuance of the shares of Common Stock to the holders of the Subordinated Notes in respect of the cancellation thereof in accordance with the Amended Plan and the Disclosure Statement (as modified by the Plan Modifications) shall
be exempt from the registration requirements of the Securities Act by virtue of Section 1145 of the Bankruptcy Code.” 
  

 7 

 14. Section 6(b)(v) of the Agreement shall be deleted in its entirety. 
  
 15. Section 7(a)(vi) of the Agreement shall be deleted in its entirety and
replaced by the following: “(vi) [intentionally omitted].” 
  
 16. Section 7(a)(vii) of the Agreement shall be deleted in its entirety and replaced by the following: 
  
 “(vii) the Restructuring Transaction is not completed by December 15, 2004” 
  
 17. Section 7(a) of the Agreement shall be amended by adding the following new sentence to the end thereof: 
  
 “Notwithstanding clause (iv) of the preceding sentence or Section 5(b)
of this Agreement, no Termination Event or breach of Section 5(b) of this Agreement shall be deemed to have occurred as a result of the furnishing of information to the Consortium (as defined in the Disclosure Statement under the caption
“Consortium Letters of Intent”) or the participation by the Company, at the request or with the prior consent of the Creditors’ Committee (as defined in the Amended Plan), in discussions or negotiations with the Consortium with
respect to any Alternative Proposal made by the Consortium.” 
  
 18. The Term Sheet attached as Exhibit A to the Agreement shall be deemed amended to the extent necessary to conform to the Restructuring Terms (including, without limitation, (i) the treatment of the Senior Note claim, the Subordinated
Note claim, the MLO Contract claims and the General Unsecured Claims, (ii) the terms of the New Preferred Shares, the Warrants and the DIP/Exit Facility and (iii) the terms and conditions of the Offering and the sale of the Preferred Shares), as set
forth and described in the Amended Plan and the Disclosure Statement (as modified by the Plan Modifications) and the Agreement as amended hereby. 
  
 19. The terms of the Management Incentive Plan, the Management Stock Plan and the Change in Control Agreements (each as defined or referred to in the
Amended Plan) as set forth in Exhibit I.A.51, Exhibit I.A.52 and Exhibit IV.C.3.a, respectively, to the Amended Plan are hereby approved. 
  
 20. Schedule 1 attached hereto hereby amends and restates the respective beneficial ownership of Subordinated Notes, Commitment Amounts and Commitment
Fees of each of the Subscribers as set forth on the signature pages of the original Agreement and Schedule 1 to Amendment No. 1 to the Agreement to reflect as of the date hereof changes in beneficial ownership of Subordinated Notes by certain
Noteholders and the substitution as Noteholders of successors in interest to certain of the original Noteholders who were parties to the Agreement. Each of the Subscribers hereby confirms the information set forth opposite its name on Schedule 1
attached hereto. 
  

 8 

 21. In order to facilitate the Offering of rights to purchase Preferred Shares to holders of Subordinated
Notes who are not parties to this Agreement, each Noteholder agrees, at the Company’s request, to promptly confirm in writing or by email that its beneficial ownership of Subordinated Notes remains as set forth on Schedule 1 or, if such
beneficial ownership has been reduced or increased, the principal amount of Subordinated Notes then owned by the Noteholder. 
  
 The delivery to the Company of this letter duly executed by you will evidence your agreement to the amendments to the Agreement set forth above. These
amendments will become effective, and binding upon the Company and all of the Subscribers, upon delivery to the Company of copies of this letter duly executed by the Requisite Subscribers. 
  
 The provisions of Section 14 of the Agreement relating to counterparts and
facsimile signatures shall be applicable to this Amendment No. 2 to the Agreement. 
  
 [The balance of this page has been intentionally left blank.] 
  

 9 

 Except as amended hereby, the Agreement shall remain in full force and effect in accordance with its
terms. 
  

			
	 Very truly yours,

	
	OGLEBAY NORTON COMPANY
		
	 By:
	 	 /s/ Rochelle F. Walk

	 Name:
	 	 Rochelle F. Walk

	 Title:
	 	 Vice President, General Counsel and Secretary

  

 10 

 NOTEHOLDERS: 
  
 SUBSCRIBERS 
  

			
	Airlie Opportunity Master Fund, LTD.
		
	 By:
	 	 /s/ Adam Goodfriend

	 Name:
	 	 Adam Goodfriend

	 Title:
	 	 Managing Director

	
	Thomas G. Berlin
	
	 /s/ Thomas G. Berlin

	
	Christopher R. Siegel
		
	 By:
	 	 /s/ Christopher R. Siegel

	
	H. Sheppard Boone
		
	 By:
	 	 /s/ H. Sheppard Boone

	
	Neil Janovic
		
	 By:
	 	 /s/ Neil Janovic

	
	Adam Janovic
		
	 By:
	 	 /s/ Adam Janovic

	
	Thomas Boucher
		
	 By:
	 	 /s/ Thomas Boucher

			
	Thomas DiTosto
		
	 By:
	 	 /s/ Thomas DiTosto

	
	Connecticut General Life Insurance
		
	 By:
	 	 /s/ Leon Meyers

	 Name:
	 	 Leon Meyers

	 Title:
	 	 Senior Vice President

	
	Evan Janovic
		
	 By:
	 	 /s/ Evan Janovic

	
	Robert Altman
		
	 By:
	 	 /s/ Ronald Altman

	
	John Dougherty
		
	 By:
	 	 /s/ John Dougherty

	
	Ramer 1990 Living Trust
		
	 By:
	 	 /s/ Lawrence Ramer

	 Name:
	 	 Lawrence Ramer

	 Title:
	 	 Trustee

  

 12 

			
	Ingalls & Snyder Value Part. L.C.
		
	 By:
	 	 /s/ Thomas Boucher

	 	 	

	 Name:
	 	 Thomas Boucher

	 Title:
	 	 General Partner

	
	Shannah Ferguson
		
	 By:
	 	 /s/ Shannah Ferguson

	 	 	

	
	Theresa M. Foote
		
	 By:
	 	 /s/ Theresa M. Foote

	 	 	

	
	Kenneth J. Foote IRA
		
	 By:
	 	 /s/ Kenneth J. Foote

	 	 	

	 Name:
	 	 Kenneth J. Foote

	
	William Robert Thomas Trust
		
	 By:
	 	 /s/ Shirley A. Foote

	 	 	

	 Name:
	 	 Shirley A. Foote

	 Title:
	 	 Trustee

	
	Abigail Foote Thomas Trust
		
	 By:
	 	 /s/ Shirley A. Foote

	 	 	

	 Name:
	 	 Shirley A. Foote

	 Title:
	 	 Trustee

  

 13 

			
	Lynn Foote
		
	 By:
	 	 /s/ Lynn Foote

	 	 	

	
	Steadfast LLC
		
	 By:
	 	 /s/ Steven M. Foote

	 	 	

	 Name:
	 	 Steven M. Foote

	 Title:
	 	 Manager

	
	Blythefield Farms LLC
		
	 By:
	 	 /s/ Kenneth J. Foote

	 	 	

	 Name:
	 	 Kenneth J. Foote

	 Title:
	 	 Manager

	
	Richard Groenendyke
		
	 By:
	 	 /s/ Richard Groenendyke

	 	 	

	
	Heritage Mark Foundation
		
	 By:
	 	 /s/ Kenneth J. Foote

	 	 	

	 Name:
	 	 Kenneth J. Foote

	 Title:
	 	 Trustee

	
	Bradford Shingleton Trust
		
	 By:
	 	 /s/ Brad Shingleton

	 	 	

	 Name:
	 	 Brad Shingleton

	 Title:
	 	 Trustee

  

 14 

			
	Elizabeth A. Shingleton Trust
		
	 By:
	 	 /s/ Shirley A. Foote

	 	 	

	 Name:
	 	 Shirley A. Foote

	 Title:
	 	 Trustee

	
	Jennifer C. Shingleton Trust
		
	 By:
	 	 /s/ Shirley A. Foote

	 	 	

	 Name:
	 	 Shirley A. Foote

	 Title:
	 	 Trustee

	
	Rebecca M. Shingleton Trust
		
	 By:
	 	 /s/ Shirley A. Foote

	 	 	

	 Name:
	 	 Shirley A. Foote

	 Title:
	 	 Trustee

	
	Brad Shingleton
		
	 By:
	 	 /s/ Brad Shingleton

	 	 	

	
	David Shuldiner
		
	 By:
	 	 /s/ David Shuldiner

	 	 	

	
	Kenneth P. Singleton
		
	 By:
	 	 /s/ Kenneth P. Singleton

	 	 	

  

 15 

			
	CFG Trust
		
	 By:
	 	 /s/ Cheryl F. Groenendyke

	 	 	

	 Name:
	 	 Cheryl F. Groenendyke

	 Title:
	 	 Trustee

	
	Martin L. Solomon
		
	 By:
	 	 /s/ Martin L. Solomon

	 	 	

	
	WCI Steel, Inc. Defined Pension Benefit Plan
	By:	 	Banc One High Yield Partners, LLC
		
	 By:
	 	 /s/ James P. Shanahan, Jr.

	 	 	

	 Name:
	 	 James P. Shanahan, Jr.

	 Title:
	 	 Manager

	
	Legacy Aggressive High Yield Fund
	By:	 	Banc One High Yield Partners, LLC
		
	 By:
	 	 /s/ James P. Shanahan, Jr.

	 	 	

	 Name:
	 	 James P. Shanahan, Jr.

	 Title:
	 	 Managing Director/General Counsel

	
	Southern UTE Permanent Fund
	By:	 	Banc One High Yield Partners, LLC
		
	 By:
	 	 /s/ James P. Shanahan, Jr.

	 	 	

	 Name:
	 	 James P. Shanahan, Jr.

	 Title:
	 	 Manager

  

 16 

			
	Pacholder High Yield Fund, Inc.
	By:	 	Banc One High Yield Partners, LLC
		
	 By:
	 	 /s/ James P. Shanahan, Jr.

	 	 	

	 Name:
	 	 James P. Shanahan, Jr.

	 Title:
	 	 Secretary

	
	One Group Income Bond Fund
	By:	 	Banc One High Yield Partners, LLC
		
	 By:
	 	 /s/ James P. Shanahan, Jr.

	 	 	

	 Name:
	 	 James P. Shanahan, Jr.

	 Title:
	 	 Manager

	
	One Group High Yield Bond Fund
	By:	 	Banc One High Yield Partners, LLC
		
	 By:
	 	 /s/ James P. Shanahan, Jr.

	 	 	

	 Name:
	 	 James P. Shanahan, Jr.

	 Title:
	 	 Manager

	
	THIRD PARTY INVESTORS
	
	Robert T. Clutterbuck Trust
		
	 By:
	 	 /s/ Robert T. Clutterbuck

	 	 	

	 Name:
	 	 Robert T. Clutterbuck

	 Title:
	 	 Trustee

	
	John Stein
		
	 By:
	 	 /s/ John Stein

	 	 	

  

 17 

			
	Steven N. Stein
		
	 By:
	 	 /s/ Steven N. Stein

	 	 	

	
	Robert L. Gipson
		
	 By:
	 	 /s/ Robert L. Gipson

	 	 	

	
	Thomas L. Gipson
		
	 By:
	 	 /s/ Thomas L. Gipson

	 	 	

	
	Gator Investment Company
		
	 By:
	 	 /s/ Adam Janovic

	 	 	

	 Name:
	 	 Adam Janovic

	 Title:
	 	 Member

	
	Fledgling Associates LLC
		
	 By:
	 	 /s/ Edward Stern

	 	 	

	 Name:
	 	 Edward Stern

	 Title:
	 	 Manager

	
	Nikolaos Monoyios
		
	 By:
	 	 /s/ Nikolaos Monoyios

	 	 	

	
	Stifel Nicolaus & Company, Incorporated
		
	 By:
	 	 /s/ Ronald J. Kruszewski

	 	 	

	 Name:
	 	 Ronald J. Kruszewski

	 Title:
	 	 Chairman and Chief Executive Officer

  

 18

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00074-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00074-of-00352.parquet"}]]