Document:

<PAGE>

                                                                EXHIBIT 10.21

                                 AMENDMENT NO. 2
                               TO CREDIT AGREEMENT

         THIS AMENDMENT NO. 2 TO CREDIT AGREEMENT, dated as of March 25, 2003
(the "Agreement") relating to the Credit Agreement referenced below, is by and
among WOLVERINE TUBE, INC., a Delaware corporation (the "Company"), its U.S. and
Canadian Subsidiaries identified as Subsidiary Borrowers on the signature pages
hereto and any additional U.S. or Canadian Subsidiaries of the Company which
become parties to the Credit Agreement in accordance with the terms thereof
(collectively referred to as the "Subsidiary Borrowers" and individually
referred to as a "Subsidiary Borrower") (hereinafter, the Company and the
Subsidiary Borrowers are collectively referred to as the "Borrowers" or referred
to individually as a "Borrower"), each of the financial institutions identified
as Lenders on the signature pages hereto (the "Lenders" and each individually, a
"Lender"), WACHOVIA BANK, NATIONAL ASSOCIATION, ("Wachovia"), acting in the
manner and to the extent described in Article XIII of the Credit Agreement (in
such capacity, the "Administrative Agent") and CONGRESS FINANCIAL CORPORATION
(CANADA) acting in the manner and to the extent described in Article XIII of the
Credit Agreement (in such capacity, the "Canadian Agent"). Terms used but not
otherwise defined herein shall have the meanings provided in the Credit
Agreement and the provisions of Sections 1.2, 1.3 and 1.4 of the Credit
Agreement related to the definitions shall apply herein.

                               W I T N E S S E T H

         WHEREAS, a $37,500,000 credit facility has been extended to the
Borrowers pursuant to the terms of that certain Credit Agreement dated as of
March 27, 2002 (as amended, modified or otherwise supplemented from time to
time, the "Credit Agreement") among the Borrowers, the Lenders, the
Administrative Agent and the Canadian Agent;

         WHEREAS, the Borrowers anticipate that violations of the minimum
Consolidated EBITDA covenant set forth in Section 8.3 of the Credit Agreement
will occur and thus the Borrowers request that the Lenders agree to amend such
covenant pursuant to the terms and conditions herein; and

         WHEREAS, as a result of the inducement described herein and the other
good and valuable consideration provided to the Lenders, the undersigned Lenders
agree to enter into this Agreement to amend certain of the Credit Documents as
set forth in this Agreement;

         NOW, THEREFORE, in consideration of these premises and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

         (A) Amendments. The Credit Agreement is amended by replacing the table
in Section 8.3 thereof with the following table:

<PAGE>

<TABLE>
<CAPTION>

               ---------------------------------------------------------------------
                                                                          Minimum
                                                                        Consolidated
                             Fiscal Quarter Ending                        EBITDA
               ---------------------------------------------------------------------
               <S>                                                      <C>
               March 31, 2002                                           $ 7,800,000
               ---------------------------------------------------------------------
               June 30, 2002                                            $21,500,000
               ---------------------------------------------------------------------
               September 30, 2002                                       $34,500,000
               ---------------------------------------------------------------------
               December 31, 2002                                        $45,000,000
               ---------------------------------------------------------------------
               March 31, 2003                                           $40,000,000
               ---------------------------------------------------------------------
               June 30, 2003                                            $40,000,000
               ---------------------------------------------------------------------
               September 30, 2003                                       $40,000,000
               ---------------------------------------------------------------------
               December 31, 2003                                        $42,000,000
               ---------------------------------------------------------------------
               Each fiscal quarter ending in fiscal year 2004           $55,000,000
               ---------------------------------------------------------------------
</TABLE>

         (B) Representations and Warranties. Each Credit Party hereby represents
and warrants that (i) the representations and warranties contained in Article VI
of the Credit Agreement are true and correct in all material respects on and as
of the date hereof as though made on and as of such date (except for those
representations and warranties which by their terms relate solely to an earlier
date) and after giving effect to the transactions contemplated herein, (ii) no
Default or Event of Default exists under the Credit Agreement on and as of the
date hereof and after giving effect to the transactions contemplated herein,
(iii) it has the corporate, limited liability company or limited partnership
power and authority to execute and deliver this Agreement and to perform its
obligations hereunder and has taken all necessary organizational action to
authorize the execution, delivery and performance by it of this Agreement; (iv)
it has duly executed and delivered this Agreement, and this Agreement
constitutes its legal, valid and binding obligation enforceable in accordance
with its terms except as the enforceability thereof may be limited by
bankruptcy, insolvency or other similar laws affecting the rights of creditors
generally or by general principles of equity and (v) neither the execution and
delivery of this Agreement, nor the consummation of the transactions
contemplated therein, nor performance of and compliance with the terms and
provisions thereof will violate or conflict in any material respect with any
material provision of its articles or certificate of incorporation or
certificate of limited partnership or certificate of formation, bylaws,
agreement of limited partnership or limited liability company agreement or
violate, contravene or conflict in any material respect with contractual
provisions of, or cause an event of default under, any indenture, including
without limitation the 2008 Senior Note Indenture and 2009 Senior Note
Indenture, loan agreement, mortgage, deed of trust, contract or other agreement
or instrument to which it is a party or by which it may be bound.

         (C) Effectiveness. This Agreement shall become effective upon
satisfaction of all of the following conditions precedent:

                1. Executed Agreement. The Administrative Agent shall have
         received a fully executed counterpart of this Agreement from each party
         hereto.

                2. Secretary's Certificates. The Administrative Agent shall
         have received a secretary's certificates from each Borrower (except the
         Canadian Borrowers party to the Credit Agreement prior to the date
         hereof) dated as of the date hereof either substantially in the form
         required by Section 5.1(d) of the Credit Agreement, mutatis mutandis,
         or a bring-down certificate if no change has occurred to the
         secretary's certificate since the

                                       2
<PAGE>

         last delivery thereof to the Administrative Agent, in accordance with
         the Credit Agreement, and, in each case, otherwise in form and
         substance acceptable to the Administrative Agent.

                3. Other Conditions Precedent. The Borrowers shall have
         completed all proceedings taken in connection with the transactions
         contemplated by this Agreement and delivered to the Administrative
         Agent all other documentation and other items incident thereto and each
         shall be satisfactory to the Administrative Agent and its legal
         counsel, Moore & Van Allen PLLC.

         (D) No Other Modification. Except to the extent specifically provided
to the contrary in this Agreement, all terms and conditions of the Credit
Agreement (including Exhibits and Schedules thereto) and the other Credit
Documents shall remain in full force and effect, without modification or
limitation. This Agreement shall not operate as a consent to any other action or
inaction by the Borrowers or any other Credit Party, or as a waiver or amendment
of any right, power, or remedy of any Lender, the Administrative Agent or the
Canadian Agent under the Credit Agreement or any other Credit Document nor
constitute a consent to any such action or inaction, or a waiver or amendment of
any provision contained in the Credit Agreement or any other Credit Document
except as specifically provided herein.

         (E) Release. In consideration of entering into this Agreement, each
Credit Party (a) represents and warrants to each Agent and each Lender that as
of the date hereof there are no causes of action, claims, actions, proceedings,
judgments, suits, demands, damages or offsets against or defenses or
counterclaims to its Obligations or Secured Obligations under the Credit
Documents and furthermore, such Credit Party waives any and all such causes of
action, claims, actions, proceedings, judgments, suits, demands, damages,
offsets, defenses or counterclaims whether known or unknown, arising prior to
the date of this Agreement and (b) releases each Agent and each Lender and each
of their respective Affiliates, Subsidiaries, officers, employees,
representatives, agents, counsel and directors from any and all actions, causes
of action, claims, actions, proceedings, judgments, suits, demands, damages and
liabilities of whatever kind or nature, in law or in equity, now known or
unknown, suspected or unsuspected to the extent that any of the foregoing arises
from any action or failure to act with respect to any Credit Document, on or
prior to the date hereof.

         (F) Governing Law. This Agreement shall be governed by and construed
and interpreted in accordance with the laws of the State of North Carolina,
without regard to the principles governing conflicts of laws thereof.

         (G) INCORPORATION BY REFERENCE OF CERTAIN PROVISIONS. THE PROVISIONS IN
SECTIONS 14.5, 14.6, 14.8, 14.9, 14.10, 14.12, 14.13, 14.14, 14.15, 14.19 AND
14.24 OF THE CREDIT AGREEMENT ARE HEREBY INCORPORATED BY REFERENCE HEREIN,
MUTATIS MUTANDIS.

                  [Remainder of Page Intentionally Left Blank]

                                       3
<PAGE>

         Each of the parties hereto has caused a counterpart of this Agreement
to be duly executed and delivered as of the date first above written.

                                       COMPANY:

                                       WOLVERINE TUBE, INC.

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

                                       U.S. SUBSIDIARY BORROWERS:

                                       TF INVESTOR, INC.

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

                                       TUBE FORMING HOLDINGS, INC.

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

                                       TUBE FORMING, L.P.

                                       By:  Tube Forming Holdings, Inc.,
                                            its General Partner

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

                           (signature pages continue)

                                         Amendment No. 2 to the Credit Agreement

<PAGE>

                                         WOLVERINE FINANCE, LLC

                                         By:  Wolverine Tube, Inc.,
                                              its Sole Member

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

                                         STPC HOLDING, INC.

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

                                         SMALL TUBE MANUFACTURING, LLC

                                         By:  Wolverine Tube, Inc.,
                                              its Sole Member

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

                                         WOLVERINE JOINING TECHNOLOGIES, LLC

                                         By:  Wolverine Tube, Inc.,
                                              its Sole Member

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

                           (signature pages continue)

                                       Amendment No. 2 to the Credit Agreement

<PAGE>

                                          WOLVERINE CHINA INVESTMENTS, LLC

                                          By:  Wolverine Tube, Inc.,
                                               its Managing Manager

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

                                       WT HOLDING COMPANY, INC.

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

                           (signature pages continue)

                                       Amendment No. 2 to the Credit Agreement

<PAGE>

                                        CANADIAN SUBSIDIARY BORROWERS:

                                        3072996 NOVA SCOTIA COMPANY

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

                                        WOLVERINE JOINING TECHNOLOGIES
                                        (CANADA) INC.

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

                                        3072452 NOVA SCOTIA COMPANY

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

                                        3072453 NOVA SCOTIA COMPANY

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

                                        WOLVERINE TUBE CANADA LIMITED
                                        PARTNERSHIP

                                        By: 3072453 NOVA SCOTIA COMPANY,
                                        its General Partner

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

                           (signature pages continue)

                                        Amendment No. 2 to the Credit Agreement

<PAGE>

                                       WOLVERINE TUBE (CANADA) INC.

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

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

                           (signature pages continue)

                                       Amendment No. 2 to the Credit Agreement

<PAGE>

                                       LENDERS:

                                       WACHOVIA BANK, NATIONAL ASSOCIATION,
                                       in its capacity as Administrative Agent
                                       and as a Lender

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

                           (signature pages continue)

                                        Amendment No. 2 to the Credit Agreement

<PAGE>

                                       CONGRESS FINANCIAL CORPORATION (CANADA),
                                       in its capacity as Canadian Agent and as
                                       a Lender

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

                              [signature pages end]

                                        Amendment No. 2 to the Credit Agreement<PAGE>

                                                               EXHIBIT 10.22

                              WOLVERINE TUBE, INC.

                     2003 ANNUAL PERFORMANCE INCENTIVE PLAN

OVERVIEW OF THE PLAN:

The Wolverine Tube, Inc. Annual Performance Incentive Plan ("The Plan") will
provide each eligible participant with a specific incentive opportunity -
expressed as a percentage of base compensation - which can be earned based upon
the Company and the participant achieving certain performance targets. These
goals can be corporate, division, group or some combination of all and will be
weighted to emphasize key areas.

OPERATIONS OF THE PLAN:

-    Performance Measures and Targets - Under this plan, the Company establishes
     various target performance levels based on projected business results
     during the plan year. There will be three levels: level one, level two and
     level three. Exhibit A contains a definition of performance goals to be
     used for the specific Plan Year. Each participant in the Plan will receive
     his/her own list of targets.

-    Incentive Opportunities - The Company will then establish percentage of
     salaries that can be earned when and if the targets are reached. The
     percentages increase as performance improves based upon a grading formula.
     For example, if actual performance in any area is between level one and
     level two, a pro-rata increase in incentives will be provided on a sliding
     scale. Once target level three is achieved for overall Corporate Operating
     Income, additional bonus can be achieved in a pro-rata manner. All other
     Performance Measures are fully achieved at level three. Additionally,
     the Corporate Quantifiable Objectives are a stepped award payout (i.e.
     not linear). Each Participant in the Plan will receive his/her own list
     of incentive opportunities for achieving performance.

-    Weighting of Factors - The performance measures are applied in combination
     by assigning a specified weight to each measure based upon degree of
     importance and assessing the extent to which the goals were achieved.

-    Performance Areas and Targets - Each participant will be assigned three to
     five performance measures and their associated specified weights.
     Performance goals can be achieved at various levels and may trigger
     incentives at various levels. No minimum level of performance for any one
     factor is required before incentives are paid. As such, incentive may be
     paid if only one of the four factors is at level one.

                                     Page 1
<PAGE>

-    Eligibility for Participation - Participation in the Plan, for the CEO
     and his direct reports will be determined by the Compensation Committee
     based upon recommendations of the CEO. All others below this level will
     be determined by the Executive Management Committee ("Plan Administrator").
     No individual may participate simultaneously in more than one incentive or
     bonus plan. Once an individual is determined to be eligible for
     participation, he must be an employee of the Company at all times during
     the year, through and including the date the awards are granted in the
     following year in order to be eligible to receive the award. A person
     who is demoted during the year is subject to removal from the Plan by
     the Plan Administrator, with no entitlement to compensation under the
     Plan. A Participant in the Plan who retires, becomes disabled (as defined
     in the applicable Company plan) or who dies during the year will be
     eligible to receive a pro rata award, if applicable. The Plan Administrator
     will review situations involving involuntary terminations to determine
     potential awards under the Plan. A participant who voluntarily terminates
     service or who is terminated for "Cause" (as determined by the Plan
     Administrator) will not be eligible for an award.

-    Administration of the Plan - The Plan Administrator will make any and all
     determinations regarding the operation of the Plan for non-officer level
     employees and the Compensation Committee will make any and all
     determinations regarding the operation of the Plan for Corporate Officer
     level employees.

-    Extenuating Circumstances - The Plan Administrator will evaluate
     unexpected, uncontrollable events that could impact the Plan. Examples of
     these include fluctuations in energy costs and foreign currency exchange.

                                                   PREPARED BY:

                                                   -----------------------------
                                                   Dennis J. Horowitz
                                                   President & CEO
                                                   Date:
                                                        ------------------------

APPROVED:

-------------------------------------------
Compensation Committee

Date:
      -------------------------------------

                                     Page 2
<PAGE>

EXHIBIT A

PLAN DEFINITIONS OF GOALS (A):

OPERATING INCOME (OI) - Defined as Net Sales less Cost of Goods Sold (excluding
LIFO impact) less SGA and other recurring and non-recurring charges (except as
modified by the Compensation Committee). These goals are on a Consolidated
basis. Amount to be calculated on a consistent basis and in accordance with the
Company's internal accounting policies.

NEW PRODUCT SALES TO TOTAL PRODUCT SALES RATIO (NPS) - Ratio of New Commercial
Products to Total Commercial Products spread dollars, where new products are
defined as any new commercial products sold for a three year life cycle from the
date of first commercial sale of product. Commercial products shall mean all
products of the Company, excluding plumbing service, refrigeration service, rod,
bar, strip and shaped products. Moreover, new products will consist of new
product designs and/or a new function for existing product. This will be
determined on a Consolidated basis or product line basis. Goal will be achieved
if certain threshold amounts are achieved and exceeded. Determination as to
definition of New Product Sales will be made by the Plan Administrator.

GROSS PROFIT BY PRODUCT LINE (GM) - Net Sales less cost of goods sold (excluding
LIFO impact), expressed as total dollars. Goal will be achieved if certain
threshold amounts are achieved and exceeded.

WOW COST SAVINGS - Certain Plants have pre-determined WOW targets. To the extent
these are achieved will determine a success factor.

CORPORATE QUANTIFIABLE OBJECTIVES (CQO) - each participant may be eligible to
receive up to the maximum percentage for each group, a bonus for achieving
certain pre-determined goals for performance areas not specifically noted in the
other goals. Goal will be achieved if certain quantifiable goals that are
measurable are achieved and/or exceeded, however, a threshold minimum level of
performance for objectives is required before incentive is paid.

(a)      It is assumed that for all 2003 calculations, metal prices per pound
         are set forth below. Participants should be aware that amounts in the
         Data Book may differ from these calculations. Participants will be
         advised quarterly regarding the performance and potential awards.

Copper ($.75/lb.)    Zinc ($.45/lb.)     Nickel ($3.67/lb.)     Tin ($2.25/lb.)

................................................................................

                                     Page 3

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