Document:

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                                                                   EXHIBIT 10.24

                              AMENDED AND RESTATED
                                  KEY EXECUTIVE
                           INCENTIVE STOCK OPTION PLAN
                     OF FRANKLIN BANK, NATIONAL ASSOCIATION

         Effective at the close of business on October 23, 2002, Franklin
Bancorp, Inc. ("Bancorp") became the holding company for Franklin Bank, National
Association. Bancorp assumes the obligations of Franklin Bank, National
Association, its subsidiaries and affiliates (the "Bank") under this Plan.
References hereinafter to the Bank shall mean Bancorp unless the context is
applicable to the Bank or to Bancorp and the Bank.

                                    ARTICLE I
                                     GENERAL

1.01 PURPOSE

         The purposes of this Key Executive Incentive Stock Option Plan (the
"Plan") are to: (1) associate the interests of the management of the Bank with
shareholders by reinforcing the relationship between participants' rewards and
shareholder value; (2) provide key management at the level of Vice President and
above with an opportunity to increase their equity ownership in the Bank; (3)
maintain competitive compensation levels; and (4) provide an incentive to
management for continuous employment with the Bank.

1.02 ADMINISTRATION

         (a) The Plan shall be administered by the Board of Directors (the
"Board") and/or by a committee of non-employee directors appointed by the Board
of Directors (the "Committee"), as constituted from time to time. The term
"non-employee directors" shall be determined within the meaning of Rule 16b-3
under the Securities Exchange Act of 1934 (or any successor rule of similar
import). On the effective date of the Plan, the Committee shall consist of two
or more non-employee directors. As permitted under the rules or interpretations
of the Securities and Exchange Commission, the Compensation Committee of the
Board of Directors may act as the Committee, however, all decisions and
interpretations of the Plan by the Compensation Committee shall be made solely
by the non-employee Directors of the Compensation Committee.

         (b) The Board and/or the Committee shall have the authority, in their
sole discretion and from time to time to:

                  (i) Designate the employees who will participate in the Plan
         from those eligible to participate as described in Section 1.03 below;

                  (ii) Grant awards provided in the Plan in such form and amount
         as the Board and/or the Committee shall determine;

                  (iii) Impose such limitations, restrictions and conditions
         upon any such award as the Board and/or the Committee shall deem
         appropriate; and

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                  (iv) Interpret the Plan, adopt, amend and rescind rules and
         regulations relating to the Plan, and make all other determinations and
         take all other action necessary or advisable for the implementation and
         administration of the Plan.

         (c) Decisions and determinations of the Board and/or the Committee on
all matters relating to the Plan shall be in their sole discretion and shall be
conclusive. No member of the Board and/or the Committee shall be liable for any
action taken or decision made in good faith relating to the Plan or any award
thereunder.

1.03 ELIGIBILITY FOR PARTICIPATION

         Participants in the Plan shall be selected by the Board and/or the
Committee from the executive officers and other key employees of the Bank who
occupy responsible managerial or positions of Vice President or above, and who
have the capability of making a substantial contribution to the success of the
Bank. In making this selection and in determining the form and amount of awards,
the Board and/or the Committee shall consider all factors deemed relevant,
including the individual's functions, responsibilities, value of services to the
Bank and past and potential contributions to the Bank's profitability and sound
growth.

1.04 TYPES OF AWARDS UNDER PLAN

         Awards under the Plan shall be in the form of Incentive Stock Options,
as described in Article II.

1.05 AGGREGATE LIMITATION ON AWARDS

         Shares of stock which may be issued under the Plan shall be authorized
and unissued or treasury shares of Common Stock of the Bank ("Common Stock").
Under the Plan, pursuant to shareholder approval at the May 31, 1994, May 23,
1996 and May 29, 1998 annual meetings, a total of Three Hundred Forty Thousand
(340,000) shares of Common Stock are authorized for issuance, as adjusted for
stock dividends ("Old Shares"). Under the Plan, as amended and restated,
pursuant to shareholder approval at the June 17, 2003 Annual Meeting of
Shareholders, an additional One Hundred Twenty-Five Thousand (125,000) shares of
Common Stock are authorized for issuance ("New Shares").

1.06 EFFECTIVE DATE AND TERM OF PLAN

         (a) With respect to the Old Shares, the Plan became effective on May
31, 1994, May 23, 1996 and May 29, 1998 when it was approved by the holders of a
majority of the shares of Common Stock at the respective Annual Meetings of
Shareholders. With respect to the New Shares, the Plan became effective on June
17, 2003, the date approved by the holders of a majority of the shares of Common
Stock at the 2003 Annual Meeting of Shareholders.

         (b) No awards of Old Shares shall be made under the Plan after May 31,
2004; provided, however, that the Plan and all awards of Old Shares made under
the Plan prior to such date shall remain in effect until such awards have been
satisfied or terminated in accordance with the Plan and the terms of such
awards. No awards of New Shares shall be made under the Plan

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after December 31, 2008; provided, however, that the Plan and all awards of New
Shares made under the Plan prior to such date shall remain in effect until such
awards have been satisfied or terminated in accordance with the Plan and the
terms of such awards.

                                   ARTICLE II
                             INCENTIVE STOCK OPTIONS

2.01 AWARD OF INCENTIVE STOCK OPTIONS

         The Board and/or the Committee may, from time to time and subject to
the provisions of the Plan and such other terms and conditions as the Board
and/or the Committee may prescribe, grant to any participant in the Plan one or
more "incentive stock options" (intended to qualify as such under the provisions
of Section 422 of the Internal Revenue Code of 1986, as amended ("Incentive
Stock Options")) to purchase for cash or Bank shares the number of shares of
Common Stock allotted by the Board and/or the Committee. The date an Incentive
Stock Option is granted shall mean the date on which the Board and/or the
Committee approves the granting of such option. Any shares of Common Stock
subject to an Incentive Stock Option which for any reason terminate unexercised
or expire shall again be available for issuance under the Plan.

2.02 INCENTIVE STOCK OPTION AGREEMENTS

         The grant of an Incentive Stock Option shall be evidenced by a written
Incentive Stock Option Agreement, executed by the Bank and the holder of an
Incentive Stock Option (the "optionee"), stating the number of shares of Common
Stock subject to the Incentive Stock Option evidenced thereby, and in such form
as the Board and/or the Committee may from time to time determine.

2.03 INCENTIVE STOCK OPTION PRICE

         The option price per share of Common Stock deliverable upon the
exercise of an Incentive Stock Option shall be 110% of the fair market value of
a share of Common Stock on the date the Incentive Stock Option is granted.

2.04 TERM AND EXERCISE

         Each Incentive Stock Option shall be exercisable from the date of its
grant in accordance with a vesting Schedule determined by the Board and/or the
Committee, and unless a shorter period is provided by the Board and/or the
Committee or another Section of this Plan, may be exercised during a period of
ten years from the date of grant thereof (the "option term"). Notwithstanding
any other provision of this Agreement, no Incentive Stock Option shall be
exercisable after the expiration of its option term.

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2.05 $100,000 LIMITATION

         To the extent that the aggregate fair market value of stock with
respect to which incentive stock options are exercisable for the first time by
any optionee during any calendar year (under all of the Bank's plans) exceeds
$100,000, such options shall be treated as non-qualified options.

2.06 DEATH OR DISABILITY OF OPTIONEE

         (a) Upon the death of the optionee while an employee, any Incentive
Stock Option which is not exercisable on the date of death shall be immediately
cancelled; provided that any Incentive Stock Option which is exercisable on the
date of death may be exercised by the optionee's estate or by a person who
acquires the right to exercise such Incentive Stock Option by bequest or
inheritance or by reason of the death of the optionee (such as the personal
representative), if such exercise occurs within both the remaining option term
of the Incentive Stock Option and one year after the optionee's death.

         (b) Upon the disability (as determined by the Board and/or the
Committee) of the optionee while an employee, any Incentive Stock Option which
is not exercisable on the date of disability shall be immediately cancelled;
provided that any Incentive Stock Option which is exercisable on the date of
disability may be exercised by the optionee or by a person who acquires the
right to exercise such Incentive Stock Option on behalf of the optionee by
reason of the disability (such as a conservator or guardian), if such exercise
occurs within both the remaining option term of the Incentive Stock Option and
one year after the optionee's disability.

2.07 TERMINATION OF EMPLOYMENT

         Upon the termination of the optionee's employment for any reason other
than death or disability (as set forth in Section 2.06), except in the event of
a Qualifying Event pursuant to a Change in Control (as those terms are defined
in Section 2.08), any Incentive Stock Option which is not exercisable on the
date of termination will be immediately canceled; provided that any Incentive
Stock Option which is exercisable at the date of termination may be exercised if
such exercise occurs within both the remaining option term of the Incentive
Stock Option and three months after the date of termination.

2.08 CHANGE IN CONTROL

         In the event of a Qualifying Event pursuant to a Change in Control, (as
those terms are defined below), all Incentive Stock Options previously granted
to a participant, regardless of whether or not fully vested, shall be deemed
immediately vested and subject to exercise.

         For purposes of this Agreement, a Change in Control of the Bank shall
be deemed to have occurred upon the occurrence of any of the events described in
Subsections (a), (b), and (c) below, whether occurring prior to, subsequent to
or simultaneous to each other. Each event constitutes a separate Change in
Control for purposes of this Agreement.

         (a) any "person" or "group" (as such terms are used in Sections 13(d)
and 14(d)(2) of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), other than a trustee or

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other fiduciary under an employee benefit plan established or maintained by Bank
is or becomes the beneficial owner (within the meaning of Rule 13d-3 under the
Exchange Act), directly or indirectly, of securities of Bank representing more
than thirty percent (30%) of the combined voting power of Bank's then
outstanding securities; provided, however, that such acquisition of more than
thirty percent (30%) of the combined voting power of Bank's outstanding
securities will not constitute a Change in Control if the excess is acquired in
violation of law and the acquirer by court order, settlement or otherwise
disposes or is required to dispose of all securities acquired in violation of
law; or

         (b) upon the purchase of the Bank's Common Stock pursuant to a tender
or exchange offer at the point which results in the consummation of the sale of
more than thirty percent (30%) of the combined voting power of the Bank's then
outstanding securities (other than a tender or exchange offer or public market
purchase initiated by the Bank or a trustee or other fiduciary under an employee
benefit plan established or maintained by the Bank); or

         (c) upon consummation and closing of a transaction resulting in (i) a
merger or consolidation of the Bank with or into another institution, other than
a merger or consolidation which would result in the voting securities of the
Bank outstanding immediately prior thereto continuing to represent (either by
remaining or by being converted into voting securities of the surviving entity)
more than fifty percent (50%) of the combined voting power of the voting
securities of the Bank or such surviving entity outstanding immediately after
such merger or consolidation); or (ii) a sale, exchange, lease, mortgage,
pledge, transfer, or other disposition (in one transaction or a series of
related transactions) of all or substantially all of the assets or liabilities
of the Bank which shall include, without limitation, the sale of assets
aggregating more than fifty percent (50%) of the assets of the Bank on a
consolidated basis; or (iii) any liquidation or dissolution of Bank; or (iv) any
reorganization, reverse stock split, or recapitalization of Bank which would
result in a Change in Control.

         Notwithstanding the above, the formation of a bank holding company,
pursuant to which all of the outstanding voting securities of the Bank become
owned by such holding company and pursuant to which the holders of the
outstanding voting securities of the Bank immediately prior to the bank holding
company formation become the owners of at least 90% of the outstanding voting
securities of such bank holding company, shall not be deemed a `Change in
Control.

         For purposes of this Agreement, "Qualifying Event" means one of the
following events which occurs during the period commencing one hundred eighty
(180) days prior to the date of a Change in Control and ending on the first
anniversary of a Change in Control.

         (a) the termination of optionee's employment by Bank without Cause (as
defined below);

         (b) resignation from employment by optionee as the result of his
demotion from his position with Bank or the material and substantial reduction
of his duties or the relocation of optionee from Bank's current headquarters in
Southfield to a location at least fifty (50) miles away; or

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         (c) resignation from employment by optionee due to the reduction of
optionee's then current base salary or, if eligible, elimination of (i)
eligibility for an annual cash bonus, (ii) eligibility for long term incentive
compensation or (iii) any existing Benefits as defined below.

         For purposes of this Agreement, "Cause" shall consist of any of the
following:

         (a) Optionee's willful misrepresentation, fraud, willful dishonesty or
willful breach of a fiduciary duty which is intended to result, or does result,
in his or any person's or entity's enrichment at the expense of Bank;

         (b) willful misconduct; provided, however, that conduct by optionee in
good faith and/or ordinary negligence shall not be considered "Cause;"

         (c) failure to perform optionee's duties or failure to follow any
written policy or directive of the Board of Directors of Bank or Franklin
Bancorp, any of which is not remedied by optionee after receipt by him of a
written notice from Bank's President and CEO and/or the Board of Directors of
Bank or Franklin Bancorp specifying the required action and the time period
within which the action must be taken, which period shall not be less than three
(3) days;

         (d) willful violation of any law, rule or regulation relating to the
operation of Bank or any of its subsidiaries or affiliates;

         (e) the order of any court or supervising governmental agency with
jurisdiction over the affairs of Bank or any subsidiary or affiliate;

         (f) if optionee has a written employment agreement with Bank, his
willful violation of any provision thereof;

         (g) optionee's conviction or no contest plea to a felony or crime
involving moral turpitude;

         (h) abuse of illegal drugs or other controlled substances or habitual
intoxication; or

         (i) willful violation by optionee of Bank's published business conduct
guidelines, code of ethics, conflict of interest or other similar policies.

         For purposes of this Agreement, "Benefits" means all Bank sponsored
retirement plans, 401(k) plans, life insurance plans, medical insurance plans,
disability insurance plans, employee stock ownership plans and such other
benefit plans generally available from time to time to other executive employees
of Bank or Franklin Bancorp for which optionee qualifies under the terms of the
plans.

2.09 TERMINATION FOR OTHER REASONS

         Except in the event of a Qualifying Event pursuant to a Change in
Control as set forth in Section 2.08, all Incentive Stock Options which are not
fully vested shall terminate upon the termination of the optionee's employment.

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                                   ARTICLE III
                                  MISCELLANEOUS

3.01 GENERAL RESTRICTION

         Each award under the Plan shall be subject to the requirement that, if
at any time the Board and/or the Committee shall determine that (i) the listing,
registration or qualification of the shares of Common Stock subject or related
thereto upon any securities exchange or under any state or Federal law, or (ii)
the consent or approval of any government regulatory body, or (iii) an agreement
by the grantee of an award with respect to the disposition of shares of Common
Stock, is necessary or desirable as a condition of, or in connection with, the
granting of such award or the issue or purchase of shares of Common Stock
thereunder, such award may not be consummated in whole or in part unless such
listing, registration, qualification, consent, approval or agreement shall have
been effected or obtained free of any conditions not acceptable to the Board
and/or the Committee.

3.02 NON-ASSIGNABILITY

         No award under the Plan shall be assignable or transferable by the
recipient thereof, except by will or by the laws of descent and distribution.
During the life of the recipient, such award shall be exercisable only by such
person.

3.03 WITHHOLDING TAXES

         Whenever the Bank proposes or is required to issue or transfer shares
of Common Stock under the Plan, the Bank shall have the right to require the
grantee to remit to the Bank an amount sufficient to satisfy any Federal, state
and or local withholding tax requirements prior to the delivery of any
certificate or certificates for such shares. Alternatively, the Bank may issue
or transfer such shares of Common Stock net of the number of shares sufficient
to satisfy the withholding tax requirements. For withholding tax purposes, the
shares of Common Stock shall be valued on the date the withholding obligation is
incurred.

3.04 RIGHT TO TERMINATE EMPLOYMENT

         Nothing in the Plan or in any agreement entered into pursuant to the
Plan shall confer upon any participant the right to continue in the employment
of the Bank or effect any right which the Bank may have to terminate the
employment of such participant.

3.05 NON-UNIFORM DETERMINATIONS

         The Board's and/or the Committee's determinations under the Plan
(including without limitation, determinations of the persons to receive awards,
the form, amount and timing of such awards, the terms and provisions of such
awards and the agreements evidencing same) need not be uniform and may be made
by it; selectively among persons who are eligible to receive awards under the
Plan, whether or not such persons are similarly situated.

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3.06 RIGHTS AS A SHAREHOLDER

         The recipient of any award under the Plan shall have no voting or other
rights as a shareholder with respect thereto unless and until certificates for
shares of Common Stock are issued to him.

3.07 DEFINITIONS

         In this Plan the following definitions shall apply:

         (a) "Subsidiary" means any corporations of which, at the time, more
than 50% of the shares entitled to vote generally in an election of directors
are owned directly or indirectly by the Bank or any subsidiary thereof.

         (b) "Affiliate" means any person or entity which directly, or
indirectly through one or more intermediaries, controls, is controlled by, or is
under common control with the Bank.

         (c) "Fair market value" as of any date in respect of any share of
Common Stock means the closing price on such date or on the next business day,
if such date is not a business day, of a share of Common Stock reflected in the
consolidated trading tables of The Wall Street Journal (presently the NASDAQ
National Market) or any other publication selected by the Board and/or the
Committee, provided that, if shares of Common Stock shall not have been traded
on the consolidated trading tables of The Wall Street Journal (presently, the
NASDAQ National Market) for more than 10 days immediately preceding such date or
if deemed appropriate by the Board and/or the Committee for any other reason,
the fair market value of shares of Common Stock shall be as determined by the
Board and/or the Committee in such other manner as it may deem appropriate. In
no event shall the fair market value of any share of Common Stock be less than
its par value.

         (d) "Option" means Incentive Stock Option.

         (e) "Option price" means the purchase price per share of Common Stock
deliverable upon the exercise of an Incentive Stock Option.

3.08 LEAVES OF ABSENCE

         The Board and/or the Committee shall be entitled to make such rules,
regulations and determinations as it deems appropriate under the plan in respect
of any leave of absence taken by the recipient of any award. Without limiting
the generality of the foregoing, the Board and/or the Committee shall be
entitled to determine (i) whether or not any such leave of absence shall
constitute a termination of employment within the meaning of the Plan and (ii)
the impact, if any, of any such leave of absence on awards under the Plan
theretofore made to any recipient who takes such leave of absence.

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3.09 NEWLY ELIGIBLE EMPLOYEES

         The Board and/or the Committee shall be entitled to make such rules,
regulations, determinations and awards as it deems appropriate in respect of any
employee who becomes eligible to participate in the Plan or any portion thereof
after the commencement of an award or incentive period.

3.10 ADJUSTMENTS

         The total amount of Common Stock for which Options may be issued under
the Plan, and the number of shares subject to any such grants or awards (both as
to the number of shares of Common Stock and the exercise price), shall be
adjusted pro rata for any increase or decrease in the number of outstanding
shares of Common Stock resulting from payment of a stock dividend on Common
Stock, a subdivision or combination of shares of Common Stock, or a
reclassification of Common Stock, or any other increase or decrease in the
number of issued shares of Common Stock effected without receipt of
consideration by the Bank; provided, however, that conversion of any convertible
securities of the Bank shall not be deemed to have been "effected without
receipt of consideration." Such adjustment shall be made by the Board and/or the
Committee, whose determination in that respect shall be final, binding and
conclusive. Except as expressly provided herein, no issuance by the Bank of
shares of stock of any class, or securities convertible into shares of stock of
any class, shall affect, and no adjustment by reason thereof shall be made with
respect thereto, the number or price of shares of Common Stock subject to an
Option.

3.11 EFFECT OF MERGER OR OTHER REORGANIZATION

         In the event of the formation of a bank holding company pursuant to
which all of the outstanding voting securities of the Bank become owned by such
holding company and pursuant to which the holders of the outstanding voting
securities of the Bank immediately prior to the bank holding company formation
become the owners of at least 90% of the outstanding voting securities of such
bank holding company, then the Options shall extend to stock and securities of
such bank holding company to the same extent that a holder of that number of
Shares immediately prior to the bank holding company formation (corresponding to
the number of Shares covered by the Options) would be entitled to have or obtain
stock and securities of the bank holding company pursuant to the bank holding
company formation.

         In the event of a Change in Control pursuant to Section 2.08 (c), the
Bank shall attempt in good faith to cause each outstanding Option to be assumed
or an equivalent option or right substituted by the successor corporation or a
parent or subsidiary of the successor corporation or other applicable entity.
For the purposes of this paragraph, the Option shall be considered assumed if,
following such Change in Control, the option or right confers the right to
purchase or receive, for each share covered by the optionee's Option,
immediately prior to such Change in Control, the consideration (whether stock,
cash, or other securities or property) received in the Change in Control
transaction by holders of Common Stock for each share held on the effective date
of the transaction. If the successor corporation or a parent or subsidiary of
the successor corporation or other applicable entity has not agreed to assume
the then outstanding Options or

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agreed to substitute an equivalent option or right, then all of the then
outstanding Options shall become exercisable.

3.12 APPLICATION OF PROCEEDS

         The proceeds received by the Bank from the exercise of Options under
the Plan shall be used for general corporate purposes.

3.13 DURATION OF THE PLAN

         Unless sooner terminated in accordance with Section 3.17 hereof, the
Plan with respect to the Old Shares shall remain in effect until May 31, 2004
and with respect to the New Shares shall remain in effect until December 31,
2008.

3.14 GENERAL PROVISIONS

         The grant of an Incentive Stock Option in any year shall not give the
Grantee any right to similar grants in future years or any right to be retained
in the employ of the Bank.

3.15 GOVERNING LAW

         This Plan shall be construed and its provisions enforced and
administered in accordance with the laws of Michigan except to the extent that
such laws may be superseded by any federal law.

3.16 INDEMNIFICATION OF THE BOARD AND/OR THE COMMITTEE

         In addition to such other rights of indemnification as they may have as
Directors, the members of the Board and/or the Committee shall be indemnified by
the Bank against the reasonable expenses, including attorneys' fees, actually
and reasonably incurred in connection with the defense of any action taken or
failure to act under or in connection with the Plan or any Options, granted
hereunder, and against all amounts reasonably paid by them in settlement thereof
or paid by them in satisfaction of a judgment in any such action, suit or
proceeding, if such members acted in good faith and in a manner which they
believed to be in, and not opposed to, the best interests of the Bank.

3.17 AMENDMENT OF THE PLAN

         (a) The Board and/or the Committee may, without further action by the
shareholders and without receiving further consideration from the participants,
amend this Plan or condition or modify awards under this Plan in response to
changes in securities or other law or rules, regulations or regulatory
interpretations thereof applicable to this Plan or to comply with stock exchange
rules or requirements.

         (b) The Board and/or the Committee may at any time and from time to
time terminate or modify or amend the Plan in any respect, except that without
shareholder approval the Board and/or the Committee may not (i) increase the
maximum number of shares of Common Stock

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which may be issued under the Plan, (ii) extend the period during which any
award may be granted or exercised, (iii) extend the term of the Plan, (iv) make
any amendment which would affect the qualification of the Options granted
hereunder from being treated as Incentive Stock Options; (v) materially increase
the benefits accruing to participants under the Plan, or (vi) materially modify
the requirements as to eligibility for participation in the Plan. The
termination or any modification or amendment of the Plan, except as provided in
subsection (a), shall not, without the consent of a participant, affect his or
her rights under an award previously granted to him or her.

3.18 FRACTIONAL SHARES

         No fractional shares shall be issued in connection with the exercise of
an Option; instead, the Fair Market Value of the fractional shares shall be paid
in cash, or at the discretion of the Board and/or the Committee, the number of
shares shall be rounded down to the nearest whole number of shares and any
fractional shares shall be disregarded.

                                     FRANKLIN BANK, N.A.

                                     By:
                                        ----------------------------------------

                                     Its:
                                         ---------------------------------------

                                       11<PAGE>
                                                                    EXHIBIT 10.1

                               AMENDMENT NO. 1 TO
                DEBTOR-IN-POSSESSION LOAN AND SECURITY AGREEMENT

                                                  June 16, 2003

Weirton Steel Corporation
400 Three Springs Drive
Weirton, West Virginia 26062
Attention: Mark E. Kaplan

Ladies and Gentlemen:

            Reference is made to the Debtor-In-Possession Loan and Security
Agreement dated as of May 20, 2003 by and among Weirton Steel Corporation,
Chapter 11 Debtor and Debtor-in-Possession ("Borrower"), the lenders from time
to time party thereto (the "Lenders"), Fleet Capital Corporation, individually
as a Lender, and as agent for the Lenders (the "Agent"; as amended, supplemented
or otherwise modified from time to time, the "Loan Agreement"). Unless otherwise
defined herein, capitalized terms used herein shall have the meanings provided
to such terms in the Loan Agreement.

            Borrower has requested that (a) Majority Lenders and all Term
Lenders agree to amend the Loan Agreement in order to permit the Borrower to
grant additional liens to the Exchange Indenture Trustee (as defined in the
Final Financing Order), and (b) Majority Lenders agree to amend the Loan
Agreement in order to allow for the payment of a fee to Agent in connection with
the application of Borrower for a loan under the Emergency Steel Loan Guarantee
Program. Majority Lenders and all Term Lenders have agreed to the foregoing, on
the terms and conditions set forth herein. Therefore, Majority Lenders and all
Term Lenders hereby agree as follows:

            1. Amendments. The Loan Agreement is hereby amended as follows:

            (a) The following subsection 2.15 is hereby added to the Loan
      Agreement:

            "2.15. Byrd Bill Diligence Fee. Borrower may pay to Agent a fee (the
      "Byrd Bill Diligence Fee") equal to $375,000 as payment for the due
      diligence to be performed by Agent in connection with Borrower's request
      that Agent sponsor the application of Borrower for a loan under the
      Emergency Steel Loan Guarantee Program, $200,000 of which shall be payable
      upon execution of that certain Amendment No. 1 to Debtor-in-Possession
      Loan and Security Agreement among Borrower, the Lenders party thereto and
      Agent and the remaining $175,000 of which shall be payable upon Borrower
      submission of such application. The Byrd Bill Diligence Fee shall be fully
      earned when due
<PAGE>
      and payable and shall not be subject to rebate, refund or proration for
      any reason. Agent hereby agrees that if Agent makes a loan to Borrower
      under the Emergency Steel Loan Guarantee Program, Agent shall apply the
      Byrd Bill Diligence Fee against any closing or facility fee payable to
      Agent in connection with the closing of such loan."

            (b) Clause (xii) of subsection 8.2.5 of the Loan Agreement is hereby
relabeled as clause (xiii), the following is hereby inserted as clause (xii) and
the word "and" is removed from clause (xi) of subsection 8.2.5:

            "(xii) the Exchange Indenture Replacement Liens (as defined in the
      Final Financing Order), which Liens are junior to the Liens on the
      Collateral in favor of Agent securing the Obligations; and"

            (c) The definition of the term Carve Out contained in Appendix A to
the Loan Agreement is hereby amended and restated as follows:

            "'Carve Out' - the "Carveouts", as defined in the Final Financing
      Order."

            2. Representations and Warranties. Borrower hereby represents and
warrants to Lenders that after giving effect to the transactions contemplated
hereby:

            (a) there is no Default or Event of Default currently in existence;
      and

            (b) the representations and warranties of Borrower contained in the
      Loan Agreement, as amended hereby, and the other Loan Documents, are true
      and correct in all material respects as of the date hereof, with the same
      effect as though made on the date hereof, except to the extent that such
      representations and warranties expressly relate to an earlier date, in
      which case such representations and warranties are true and correct in all
      material respects as of such earlier date.

            3. Condition to Effectiveness. This Amendment No. 1 to Debtor-in-
Possession Loan and Security Agreement (the "Amendment") shall be effective upon
the execution hereof by the appropriate number of Lenders, acceptance hereof by
Borrower, and delivery hereof to Agent on or before June 16, 2003, together with
the Byrd Bill Diligence Fee.

            4. Scope. Except as expressly amended by this Amendment, the terms
of the Loan Agreement shall remain in full force and effect as executed.

                                      -2-
<PAGE>
            5. Counterparts. This Amendment and all other documents and
agreements provided for herein or delivered or to be delivered hereunder or in
connection herewith may be executed in any number of counterparts, and by the
parties hereto and/or thereto on the same or separate counterparts, and each
such counterpart, when executed and delivered, shall be deemed an original, but
all such counterparts shall together constitute but one and the same agreement
or document, as applicable.

                            [SIGNATURE PAGE FOLLOWS]

                                      -3-

<PAGE>

                                        Very truly yours,

                                        FLEET CAPITAL CORPORATION,
                                          as Agent and as a Revolving Lender

                                        By  /s/ Tom Karlov
                                          -------------------------------------
                                        Title   S.V.P.
                                             ----------------------------------

                                        Revolving Loan Commitment: $50,000,000

                                        WELLS FARGO FOOTHILL, INC.
                                        (f/k/a FOOTHILL CAPITAL CORPORATION,)
                                          as a Revolving Lender

                                        By /s/ Lan Wong
                                           ------------------------------------
                                        Title
                                             ----------------------------------

                                        Revolving Loan Commitment: $50,000,000

                                        THE CIT GROUP/BUSINESS CREDIT, INC.,
                                          as a Revolving Lender

                                        By  /s/ Glenn Bartley
                                          -------------------------------------
                                        Title  Vice President
                                             ----------------------------------

                                        Revolving Loan Commitment: $50,000,000

                                      -4-
<PAGE>

                                        GMAC COMMERCIAL FINANCE LLC,
                                          as a Revolving Lender

                                        By  /s/ Dianna Guzzo
                                          -------------------------------------
                                        Title   VP
                                             ----------------------------------

                                        Revolving Loan Commitment: $35,000,000

                                        TRANSAMERICA BUSINESS CAPITAL
                                          CORPORATION, as a Revolving Lender

                                        By  /s/ Ari Kaplan
                                          -------------------------------------
                                        Title  Ari Kaplan, Vice President
                                             ----------------------------------

                                        Revolving Loan Commitment: $15,000,000

                                        MANCHESTER SECURITIES CORP.,
                                          as a Term Lender

                                        By  /s/ Elliot Greenberg
                                          -------------------------------------
                                        Title  Vice President
                                             ----------------------------------

                                        Revolving Loan Commitment: $25,000,000

Acknowledged and agreed to as of
this ___ day of June, 2003.

WEIRTON STEEL CORPORATION, Chapter 11
Debtor and Debtor-in-Possession

By  /s/ David B Bordo
  -----------------------------
Its  Treasurer
   ----------------------------

                                      -5-

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