Document:

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                                                                   EXHIBIT 10.29

                       FIRST AMENDMENT TO LEASE AGREEMENT

         This FIRST AMENDMENT TO LEASE AGREEMENT ("First Amendment") is made
this 25th day of June, 2004, by and between VAN DYKE OFFICE LLC, a Michigan
limited liability company (the "Landlord"), whose address is 30078 Schoenherr
Road, Suite 300, Warren, Michigan 48088; and ASSET ACCEPTANCE, LLC, a Delaware
limited liability company (the "Tenant"), whose address is 6985 Miller Road,
Warren, Michigan 48092.

                                    RECITALS:

         This First Amendment is based on the following recitals:

         A. Landlord and Tenant have entered into that certain Lease Agreement
dated October 31, 2003 as may be amended from time to time ("Lease"), pursuant
to which Landlord has agreed to construct a 200,000 square foot office building
("Asset Acceptance Building") and parking deck ("Asset Acceptance Parking Deck")
to be located on the Leased Premises.

         B. Under the terms of the Lease, Landlord is to construct the Asset
Acceptance Building pursuant to certain Plans, Specifications and Allowance,
also known as Landlord's Work, all as more particularly set forth in the Lease.

         C. Landlord has requested Tenant's consent to the construction of a
second building consisting of approximately 75,000 to 100,000 square feet
("Second Phase Building") and a second parking deck ("Second Phase Parking
Deck") with the Second Phase Building (collectively, the "Second Phase Building
and Second Phase Parking Deck" are sometimes collectively referred to as "Second
Phase Development"), all to be located on the Leased Premises.

         D. In constructing the Second Phase Development, the configuration and
size of the Leased Premises will change, particularly with respect to the common
areas and the Asset Acceptance Parking Deck being built as part of Landlord's
Work under the Lease.

         E. In exchange for Tenant's consent to the Second Phase Development,
the parties are amending the Lease.

         F. The parties desire to set forth their agreements in writing as
provided below.

         NOW, THEREFORE, the parties agree as follows:

         1. The defined terms in the Lease shall have the same meanings in this
First Amendment.

         2. In consideration of the covenants of Landlord set forth in this
First Amendment, Tenant hereby consents to the construction of the Second Phase
Development subject to the terms of this First Amendment.

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         3. (a) Subject to the terms of Paragraph 5 hereof, the Site Plan
attached as Exhibit B to the Lease is hereby amended, restated and replaced with
the Site Plan attached hereto as EXHIBIT A ("Revised Site Plan") which is a
preliminary site plan. Upon the Commencement of Construction (as defined below)
on part, but not all of the Second Phase Building or Second Phase Parking Deck,
Landlord shall convert the original Leased Premises into either a three (3) or a
four (4) unit condominium, consisting of the Asset Acceptance Building, Asset
Acceptance Parking Deck, Second Phase Building and Second Phase Parking Deck, as
applicable, together with appropriate general and limited common elements. Upon
Commencement of Construction on part, but not all of the Second Phase
Development, Landlord shall be obligated to record a Condominium Plan (as
defined below) approved by Tenant and Landlord shall have a continuing
obligation to amend the Condominium Plan once Commencement of Construction of
the remaining part of the Second Phase Development shall occur. For purposes of
this First Amendment, the term "Commencement of Construction" shall mean the
installation of any foundations as to any part of the Second Phase Development.

            (b) Until the first to occur of Commencement of Construction or the
recording of the condominium plan approved by Tenant ("Condominium Plan"), which
approval shall not be unreasonably withheld ("Leased Premises Adjustment Date"),
the Leased Premises and, particularly, the "common areas" as defined in Section
2.04 of the Lease, shall consist of every part of the original Leased Premises.
From and after the Leased Premises Adjustment Date, the Leased Premises shall be
deemed to consist of (i) the units comprising the Asset Acceptance Building and
the Asset Acceptance Parking Deck under the Condominium Plan as amended from
time-to-time, (ii) any land which is not part of the Second Phase Development
because Commencement of Construction has not begun (for example, if the Second
Phase Parking Deck is constructed prior to Second Phase Building, the Leased
Premises will include any land intended to be part of the Second Phase Building
until Commencement of Construction of the Second Phase Building) and (iii)
rights to use the limited and general common elements (the limited common
elements would constitute the exclusive "common areas" as defined in Section
2.04 of the Lease). General common element maintenance expenses shall be shared
in an equitable manner between Tenant and the occupiers and users of the Second
Phase Development. The Condominium Plan shall include common and reciprocal
easements to use all utility lines, roadways, curb cuts, walkways, driveways,
parking areas and infrastructure improvements which are located on the Leased
Premises and Second Phase Development, except that the occupiers or users of the
Second Phase Development shall have no right to use the Asset Acceptance Parking
Deck, and Tenant shall have no right to use the Second Phase Parking Deck.

         4. Notwithstanding anything to the contrary in Section 2.05 of the
Lease, except for its equitable share of general common element maintenance
expenses to be set forth in the Condominium Plan, Tenant shall not be charged or
assessed for any repair, maintenance, and construction costs and/or Operating
Expenses related to the Second Phase Development. Landlord shall employ such
procedures and accounting principles as reasonably requested by Tenant to ensure
that Tenant is not charged or assessed for any repairs, maintenance and
construction costs and/or Operating Expenses related to the Second Phase
Development.

                                       2

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         5. Before Landlord obtains site plan approval for the Second Phase
Development, Landlord shall present all site plans, construction drawings,
easements, agreements, plans and specifications regarding the Second Phase
Development to Tenant for its approval, which approval shall not be unreasonably
withheld, delayed or conditioned. Landlord agrees that building materials,
design and aesthetics of the Second Phase Development will be consistent and
harmonious as to the Asset Acceptance Building and Asset Acceptance Parking
Deck. After Landlord so obtains final site plan approval, such approved site
plan ("Approved Site Plan") shall be deemed to have replaced the Revised Site
Plan attached hereto as EXHIBIT A without any further action. It is expressly
acknowledged and agreed by Landlord that, except as set forth herein, Landlord
will make no further changes, alterations or modifications to (a) the approved
Condominium Plan, or (b) the Leased Premises and the Second Phase Development as
shown on the Approved Site Plan, without the prior written consent of Tenant
which Tenant may withhold in its sole discretion; provided, however, Landlord
may make changes, alterations or modifications to the Leased Premises which are
not in excess of Twenty-Five Thousand ($25,000) Dollars, and to the Second Phase
Development which are not in excess of Seventy-Five Thousand ($75,000) Dollars,
without Tenant's written consent so long as Landlord is not in default under the
Lease.

         6. The Landlord's Work set forth in Exhibit D to the Lease is hereby
amended and modified to provide that Landlord will upgrade the ceiling tiles,
interior doors and door jambs pursuant to materials and specifications
acceptable to Tenant at Landlord's sole cost as described in EXHIBIT B attached
hereto (collectively, "Tenant Upgrades"). The additional cost of such Tenant
Upgrades shall not be part of the Allowance under the Lease. In addition,
Landlord hereby grants to Tenant the right to audit the calculation of costs for
Landlord Work below the ceiling grade if Tenant is charged for an amount in
excess of the Allowance, exclusive of the costs of the Tenant Upgrades.

         7. In addition, Landlord shall contribute Three Hundred Thousand
Dollars ($300,000) towards installation of a generator pursuant to
specifications acceptable to Tenant as part of Landlord's Work. This
contribution shall not be made until such time as Commencement of Construction
begins on the Second Phase Building. Such payment shall be made upon Landlord's
receipt of payment under the first construction draw request as to the Second
Phase Building but not later than ninety (90) days from Commencement of
Construction. This payment will be reduced by ten percent (10%) of such amount
annually for the yearly period of time commencing upon the Commencement Date of
the Lease and ending upon the Commencement of Construction for the Second Phase
Building. Such adjustment shall not be made for partial years. Notwithstanding
anything to the contrary, the minimum amount that Tenant will contribute towards
the generator is One Hundred Eighty Thousand Dollars ($180,000). This amount
shall be due regardless of whether or not there is no Commencement of
Construction as to the Second Phase Development, and such amount shall be paid
within forty-eight (48) months from the Commencement Date of the Lease. If
Landlord shall fail to contribute any amounts due as to the generator, Tenant
shall have the right to offset such amounts from any rent or other amounts owed
under the Lease after giving Landlord notice and a thirty (30) day period within
which to make such contribution. In addition, the contribution of this amount is
also guaranteed by

                                       3
<PAGE>

Lorenzo John Cavaliere, L.L.C., a Michigan limited liability company, ("Landlord
Guarantor") pursuant to that certain Guaranty dated October 30, 2003 ("Landlord
Guaranty").

         8. Landlord agrees that it will construct a park ("Park") in an area
where the Second Phase Building will be located. Attached hereto as EXHIBIT C is
a preliminary drawing showing the Park. The Park shall be for the sole use of
the Tenant Group (as defined below). Landlord agrees to employ all commercially
reasonable procedures that are necessary to ensure the exclusive use of the Park
by the Tenant Group at the sole cost of Landlord. Upon Commencement of
Construction of the Second Phase Building, the Leased Premises shall no longer
contain the footprint of such Second Phase Building and Landlord shall have the
right to remove the Park.

         9. Landlord agrees to upgrade the Asset Acceptance Parking Deck to a
brick finish consistent and harmonious with the finish of the Asset Acceptance
Building. Prior to Landlord installing such brick finish, Landlord shall submit
preliminary drawings to Tenant for its review and approval which approval shall
not be unreasonably withheld, delayed or conditioned. The Asset Acceptance
Parking Deck will be used solely by Tenant, its employees, agents, guests,
invitees, successors and assigns, (collectively, "Tenant Group"). Landlord shall
use security arrangements reasonably acceptable to Tenant as to the Asset
Acceptance Parking Deck and Second Phase Parking Deck. Landlord shall, at its
cost and expense, employ such commercially reasonable procedures, rules and
regulations that are necessary to ensure that the Asset Acceptance Parking Deck
is used solely by the Tenant Group.

         10. Notwithstanding anything to the contrary contained in Article II of
the Lease and Exhibit E of the Lease which is the Rent Schedule, Tenant's base
rental rate in the Rent Schedule will be the lesser of the applicable base rent
in the Rent Schedule and the lowest base rental rate (after taking into account
any below market rent abatements or concessions) being paid by any tenant in the
Second Phase Development. Upon reasonable request, Landlord shall provide
certified rent rolls showing the base rental rates in the Second Phase
Development. The base rental rate in the Rent Schedule under the Lease will be
adjusted on the first day of the first full calendar month following any lease
of space to a tenant (other than Tenant and/or any person or entity affiliated
with Tenant) in the Second Phase Development ("Second Phase Lease") at a base
rental rate lower than Tenant's base rental rate under Schedule E of the Lease.
This adjustment shall be effective for the entire term of the Lease. For
example, if Tenant is paying $15 per square foot as base rent under the Lease
and a tenant is leased space pursuant to a written lease or otherwise in the
Second Phase Development at $10 per square foot, regardless of the other terms
of that tenancy in the Second Phase Development, the base rental rate for the
Leased Premises and the Rent Schedule under the Lease shall become $10 per
square foot, commencing on the rent commencement date of such Second Phase
Lease. Landlord and Tenant will execute the amendments to the Lease, setting
forth the new base rent under the Rent Schedule. The provisions of this Section
10 shall automatically expire and be of no further force or effect upon the
earlier of (a) the sale or transfer of Landlord's interest in the Second Phase
Development so long as such sale or transfer is to

                                       4

<PAGE>

Tenant or an independent third party purchaser, subject to any reduction in
Tenant's base rental rate as provided in this Paragraph 10, and (b) the date
which is five (5) years from the Commencement of Construction of the Second
Phase Building.

         11. Section 1.04 of the Lease is amended to provide that the Right of
First Refusal shall extend to the Second Phase Development. As such, Landlord
must also notify Tenant and give Tenant the right to match any bona fide third
party offer received by Landlord to sell any part of the Second Phase
Development. This Right of First Refusal shall exist separate and independent
from the Right of First Refusal as to the Building and the Leased Premises as
modified by this First Amendment. Tenant shall also have the right to record an
appropriate affidavit or other evidence of this Right of First Refusal as to the
Leased Premises and/or Second Phase Development.

         12. In addition to the Right of First Refusal set forth in Section 1.04
of the Lease, as amended by Section 11 above, Tenant shall have the right of
first refusal as to any proposed lease or tenancy as to the Second Phase
Development. Tenant shall have fifteen (15) days from the presentment of any
bona fide written offer to lease received by Landlord to accept such offer to
lease such space in the Second Phase Building on the same terms and conditions
of the proposed offer. If Tenant does not exercise such right of first refusal
to lease, such right shall expire as to the space under such offer to lease.
Such right of first refusal shall not extend to any proposed lease or tenancy to
Landlord or its affiliates for any space which is less than twenty-five thousand
twenty (25,020) square feet.

         13. Section 22.05 of the Lease is amended to provide that Landlord
shall send any notice to Tenant directly to the attention of Thomas Good,
General Counsel.

         14. Notwithstanding anything to the contrary in Section 22.12 of the
Lease, Landlord's obligations as to parking spaces are seven (7) parking spaces
for each 1,000 square feet of Built Out Square Footage up to a total of 1,400
parking spaces. Accordingly, unless and until the Vanilla Box Square Footage is
built out, Landlord shall be obligated to provide 1,050 parking spaces.

         15. Tenant hereby waives its termination rights set forth in Sections
1.02 and 1.05 of the Lease. In addition, Tenant acknowledges receipt of Landlord
Documentation and that it has no Objections thereto.

         16. (a) Section 4.01 of the Lease is hereby amended as follows:
"Landlord must obtain a temporary certificate of occupancy ("Temporary C of O")
for its build out of the Built Out Square Footage on or before October 1, 2004
("Delivery Date"). If Landlord does not obtain such Temporary C of O on or
before the Delivery Date, then Landlord will be responsible for Tenant's actual
rent holdover costs charged under Tenant's current leases at 6985, 7027 and 7177
Miller Road until Landlord obtains the Temporary C of O, but only to the extent
that such holdover costs (a) exceed the amount of monthly base rent paid by
Tenant under such leases in August 2004, and (b) do not exceed 50% of such
monthly base rent ("Tenant's Holdover Costs"). If Landlord does not obtain the

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<PAGE>

Temporary C of O on or before November 3, 2004, in addition to Tenant's Holdover
Costs, Tenant shall receive two (2) days of rent abatement for each day after
October 1, 2004 that Landlord has not obtained the Temporary C of O."

            (b) In consideration of the foregoing provision, Landlord
acknowledges and agrees that there are no delays as of the date hereof,
resulting in an Excused Delay which would extend the Delivery Date, and Landlord
hereby releases, waives and disclaims the right to make any such claim for an
Excused Delay as it relates to the Delivery Date. In addition, Landlord agrees
that there is no Excused Delay as to the steel requirements with respect to the
Asset Acceptance Building.

         17. Landlord agrees to pay all costs and expenses, including, without
limitation, the attorney fees of Tenant in negotiating and finalizing this First
Amendment. Such reimbursement by Landlord will occur upon the execution of this
First Amendment by Tenant.

         18. Landlord Guarantor hereby joins in this First Amendment to
acknowledge and agree that the terms of this First Amendment are also guaranteed
in full under the Landlord Guaranty and that this First Amendment does not
amend, modify or alter the Landlord Guarantor's obligation under the Landlord
Guaranty. If Tenant shall make a demand under the Landlord Guaranty, the
Landlord Guarantor shall be responsible for all of Landlord's obligations under
this First Amendment and the Lease.

         19. Asset Acceptance Holdings LLC ("Tenant Guarantor") hereby joins in
this First Amendment to acknowledge and agree that the terms of this First
Amendment are also guaranteed in full under that certain Guaranty dated October
31, 2003 ("Tenant Guaranty"), and that this First Amendment does not amend,
modify or alter the Tenant Guarantor's obligation under the Tenant Guaranty. If
Landlord shall make a demand under the Tenant Guaranty, the Tenant Guarantor
shall be responsible for all of Tenant's obligations under this First Amendment
and the Lease.

         20. Except as amended hereby, the Lease, Landlord's Guaranty, and
Tenant's Guaranty are restated and republished in their entirety and remain in
full force and effect. To the extent that there are any conflicts or
inconsistencies between the provisions contained in this First Amendment and the
provisions contained in the Lease, the provisions of this First Amendment shall
be deemed to be superseding and controlling.

                            [signature page follows]

                                       6

<PAGE>

         IN WITNESS WHEREOF, the parties have executed this First Amendment the
date and year first above written.

                                   VAN DYKE OFFICE LLC,
                                   a Michigan limited liability company

                                   By:      /s/ Lorenzo J. Cavaliere
                                            ------------------------------------
                                            Lorenzo J. Cavaliere
                                   Its:     Manager
                                                                      "Landlord"

                                   ASSET ACCEPTANCE, LLC,
                                   a Delaware limited liability company

                                   By:      /s/ Nathaniel F. Bradley IV
                                            ------------------------------------
                                            Nathaniel F. Bradley IV
                                   Its:     President
                                                                        "Tenant"

                                   LORENZO JOHN CAVALIERE, LLC,
                                   a Michigan limited liability company

                                   By:      /s/ Lorenzo J. Cavaliere
                                            ------------------------------------
                                            Lorenzo J. Cavaliere
                                   Its:     Manager
                                                            "Landlord Guarantor"

                                   ASSET ACCEPTANCE HOLDINGS, LLC,
                                   a Delaware limited liability company

                                   By:      /s/ Nathaniel F. Bradley IV
                                            ------------------------------------
                                            Nathaniel F. Bradley IV
                                   Its:     President
                                                              "Tenant Guarantor"
Exhibits:
A  --    Revised Site Plan
B  --    Tenant Upgrades
C  --    Preliminary Site Plan of Park

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<PAGE>

                                    EXHIBIT A

                                Revised Site Plan

                                      A-1

<PAGE>

                                    EXHIBIT B

                                 Tenant Upgrades

The materials and specifications for the upgraded ceiling tiles, interior doors
and door jambs are as follows:

Ceiling grid panels

Armstrong Second Look II Cortega Tegular edge panel, in lieu of square edge
Radar.

Doors and frames

Prefinished Oak veneer doors and prefinished aluminum frames, in lieu of solid
core legacy doors with prefinished Timely knock down frames

                                      B-1

<PAGE>

                                    EXHIBIT C

                          Preliminary Site Plan of Park

                                      C-1
<PAGE>

                       SECOND AMENDMENT TO LEASE AGREEMENT

         This SECOND AMENDMENT TO LEASE AGREEMENT ("Second Amendment") is made
this 1st day of October, 2004, by and between VAN DYKE OFFICE LLC, a Michigan
limited liability company (the "Landlord"), whose address is 30078 Schoenherr
Road, Suite 300, Warren, Michigan 48088; and ASSET ACCEPTANCE, LLC, a Delaware
limited liability company (the "Tenant"), whose address is 6985 Miller Road,
Warren, Michigan 48092.

                                    RECITALS:

         This First Amendment is based on the following recitals:

         A. Landlord and Tenant have entered into that certain Lease Agreement
dated October 31, 2003 which was amended pursuant to a First Amendment to Lease
Agreement ("First Amendment") dated as of June 25, 2004 (as amended, the
"Lease"), pursuant to which Landlord has agreed to construct a 200,000 square
foot office building ("Asset Acceptance Building") and parking deck ("Asset
Acceptance Parking Deck") to be located on the Leased Premises.

         B. Under the terms of the Lease, Landlord is to construct the Asset
Acceptance Building pursuant to certain Plans, Specifications and Allowance,
also known as Landlord's Work, all as more particularly set forth in the Lease.

         C. The parties wish to modify certain provisions of the Lease in order
to more accurately reflect their understanding of the schedule of the
Construction.

         D. The parties desire to set forth their agreements in writing as
provided below.

         NOW, THEREFORE, the parties agree as follows:

         1. The defined terms in the Lease shall have the same meanings in this
Second Amendment.

         2. The first sentence of Section 1.02 of the Lease is amended to read
in its entirety as follows:

         "The term of this Lease shall be for a period of ten years plus any
         option period as provided below (the "Term") commencing upon the later
         of (i) the issuance of a temporary certificate of occupancy by the City
         of Warren or (ii) December 1, 2004 (the "Commencement Date"), provided,
         however, if the Commencement Date shall be other than on the first of
         the month, the term shall be adjusted to the first of the following
         month and the term of the Lease thereby extended for such fraction of
         such month."

         3. The first paragraph of Section 2.01 of the Lease is amended to read
in its entirety as follows:

         "For the month of November, 2004, Tenant shall pay rent to Landlord in
         the amount of Seventy Four Thousand Four Hundred Seventy Nine and
         17/100 ($74,479.17) Dollars. For the first year of the Term from and
         after the Commencement date, Tenant shall only pay rent on One Hundred
         Fifty Thousand (150,000) square feet. From month thirteen through the
         end of the Term, Tenant shall pay rent on the entire Two Hundred
         Thousand (200,000) square feet as set forth on the Rent Schedule. Asa
         result the total rent payable

<PAGE>

         during the term of this Lease shall be payable as indicated on the
         attached Rent Schedule as more particularly described on Exhibit E
         attached hereto ("Rent Schedule").

         4. Section 2.01 of the Lease is amended to add the following paragraph
at the conclusion:

         "No later than October 26, 2004, Landlord shall supply Tenant with wire
         transfer instructions for the payment of Rent."

         5. Section 2.02 of the Lease is amended to add the following sentence
at the conclusion:

         "For the month of November, 2004, Tenant shall pay 50% of the Operating
         Expenses as defined in Section 2.05 of the Lease."

         6. Section 8.01 of the Lease is amended to provide that, in addition to
carrying insurance during the Term, Tenant shall be required to carry the
requisite insurance between October 18, 2004 and the Commencement Date.

         7. Section 16 (a) of the First Amendment (which amended Section 4.01 of
the original Lease) is amended to read in its entirety as follows:

         "Landlord must obtain a temporary certificate of occupancy ("Temporary
         C of O") for its build out of the Built Out Square Footage on or before
         November 1, 2004 ("Delivery Date"). If Landlord does not obtain such
         Temporary C of O on or before the Delivery Date, then Landlord will be
         responsible for Tenant's actual rent holdover costs charged under
         Tenant's current leases at 6985, 7027 and 7177 Miller Road until
         Landlord obtains the Temporary C of O, but only to the extent that such
         holdover costs (a) exceed the amount of monthly base rent paid by
         Tenant under such leases in September, and (b) do not exceed 50% of
         such monthly base rent ("Tenant's Holdover Costs"). If Landlord does
         not obtain the Temporary C of O on or before December 3, 2004, in
         addition to Tenant's Holdover Costs, Tenant shall receive two (2) days
         of rent abatement for each day after November 1, 2004 that Landlord has
         not obtained the Temporary C of O."

         8. Landlord shall use best efforts to complete the Asset Acceptance
Parking Deck as soon as possible, with an estimated completion date on or before
January 15, 2005. From November 10, 2004 until such parking deck is completed,
Landlord shall at all times cause at least 500 surface level parking spaces to
be available on the Property for Tenant employee parking. If Tenant needs more
parking spaces during such time, Landlord will, at its sole cost, provide Tenant
with shuttle service for its employees from mutually acceptable parking
locations upon property owned by Landlord's affiliate located on George Merrelh
Drive, during the following hours:

         Monday through Friday          7:00 a.m. until 9:00 p.m.

         Saturday                       As needed between
                                        8:00 a.m. until 12:30 p.m.

         9. Landlord agrees that Tenant may begin the assembly and installation
of furniture, workstations and related items on the 3rd and 4th floor of the
Asset Acceptance Building no later than October 18, 2004. Without limiting the
foregoing right of Tenant and its vendors to

<PAGE>

assemble and install furniture, workstations and related items at any time,
Tenant agrees that prior to November 1, 2004, the use of the elevators by the
Tenant or its vendors shall be limited to the period commencing at 5:00 p.m. and
ending at 6:00 am To the extent that Landlord has not yet received all necessary
elevator certifications, all extra costs and liabilities associated therewith
shall be borne by Landlord, including additional costs charged and/or mandated
by Otis Elevator Company. In addition, if possible, Landlord, at Tenant's
request, will provide (at Landlord's cost) a sky-lift to lift Tenant's furniture
into the upper floor windows of the building. The foregoing entry rights are
subject to Landlord's receipt of Tenant's insurance certificates in accordance
with Section 8.01 of the Lease, as amended by Section 6 hereof. Prior to
November 1, 2004, during all times that Tenant and/or its vendors are on site,
Landlord, at its own expense, may hire a security company to patrol the Asset
Acceptance Building for theft or damage. Tenant shall provide Landlord with
reasonable notice prior to entering the Asset Acceptance Building so that
Landlord may notify the security company.

         10. Tenant agrees that it shall pay Landlord's invoice number 1927 in
the amount of Four Hundred Seventy Five Thousand and 00/100 Dollars in two equal
installments of Two Hundred Thirty Seven Thousand Five Hundred and 00/100
Dollars. The first installment shall be paid on October 5, 2004 and the second
installment shall be paid on October 11, 2004.

         11. In consideration of the foregoing provision, Landlord acknowledges
and agrees that there are no delays as of the date of this Second Amendment,
resulting in an Excused Delay which would extend the Delivery Date, and Landlord
hereby releases, waives and disclaims the right to make any such claim for an
Excused Delay as it relates to the Delivery Date.

         12. Landlord Guarantor hereby joins in this Second Amendment to
acknowledge and agree that the terms of this First Amendment are also guaranteed
in full under the Landlord Guaranty and that this First Amendment does not
amend, modify or alter the Landlord Guarantor's obligation under the Landlord
Guaranty. If Tenant shall make a demand under the Landlord Guaranty, the
Landlord Guarantor shall be responsible for all of Landlord's obligations under
this First Amendment and the Lease.

         13. Asset Acceptance Holdings LLC ("Tenant Guarantor") hereby joins in
this Second Amendment to acknowledge and agree that the terms of this Second
Amendment are also guaranteed in full under that certain Guaranty dated October
31, 2003 ("Tenant Guaranty"), and that this Second Amendment does not amend,
modify or alter the Tenant Guarantor's obligation under the Tenant Guaranty. If
Landlord shall make a demand under the Tenant Guaranty, the Tenant Guarantor
shall be responsible for all of Tenant's obligations under this Second Amendment
and the Lease.

         14. Except as amended hereby, the Lease, Landlord's Guaranty, and
Tenant's Guaranty are restated and republished in their entirety and remain in
full force and effect. To the extent that there are any conflicts or
inconsistencies between the provisions contained in this Second Amendment and
the provisions contained in the Lease, the provisions of this Second Amendment
shall be deemed to be superseding and controlling.

<PAGE>

IN WITNESS WHEREOF, the parties have executed this Second Amendment the date and
year first above written,

                                           LANDLORD:

                                           VAN DYKE OFFICE LLC,
                                           a Michigan limited liability company

                                           By:  /s/ Lorenzo J. Cavaliere
                                                ------------------------
                                                Lorenzo J. Cavaliere
                                           Its: Manager

                                           TENANT:

                                           ASSET ACCEPTANCE, LLC,
                                           a Delaware limited liability company

                                           By:   /s/ Nathaniel F. Bradley IV
                                                 ---------------------------
                                                 Nathaniel F. Bradley IV
                                           Its:  President

                                           LANDLORD GUARANTOR:

                                           LORENZO JOHN CAVALIERE, LLC,
                                           a Michigan limited liability company

                                           By:  /s/ Lorenzo J. Cavaliere
                                                ------------------------
                                                Lorenzo J. Cavaliere
                                           Its: Manager

                                           TENANT GUARANTOR:

                                           ASSET ACCEPTANCE HOLDINGS, LLC,
                                           a Delaware limited liability company

                                           By:   /s/ Nathaniel F. Bradley IV
                                                 ---------------------------
                                                 Nathaniel F. Bradley IV
                                           Its:  President<PAGE>

                                                                   EXHIBIT 10-56

                  FORM OF CHANGE-IN-CONTROL SEVERANCE AGREEMENT

      This CHANGE-IN-CONTROL SEVERANCE AGREEMENT (the "Agreement") is made and
entered into by and between DTE Energy Company, a Michigan corporation (the
"Company"), and             (the "Executive"), effective as of the date
the Agreement has been executed by both parties (the "Effective Date").

                                   WITNESSETH:

      WHEREAS, the Executive is an executive or a key employee of the Company or
one or more of its Subsidiaries and has made and is expected to continue to make
major contributions to the short- and long-term profitability, growth and
financial strength of the Company;

      WHEREAS, the Company recognizes that, as is the case for most publicly
held companies, the possibility of a Change in Control (as defined below)
exists;

      WHEREAS, the Company desires to assure itself of both present and future
continuity of management and to establish minimum severance benefits for certain
of its senior executives or key employees, including the Executive, in the event
of a Change in Control;

      WHEREAS, the Company wishes to ensure that its senior executives and key
employees are able to discharge their duties in respect of a proposed or actual
transaction involving a Change in Control; and

      WHEREAS, the Company desires to provide additional inducement for the
Executive to continue to remain in the ongoing employ of the Company.

      NOW, THEREFORE, the Company and the Executive agree as follows:

1.    Certain Defined Terms. In addition to terms defined elsewhere herein, the
      following terms have the indicated meanings when used in this Agreement
      with initial capital letters:

      (a)   "Annual Bonus" means the aggregate annual bonus, incentive or other
            payments of cash compensation (determined without regard to any
            deferral election) to which the Executive would have been entitled
            under the bonus, incentive, profit-sharing, performance,
            discretionary pay or similar agreement, policy, plan, program or
            arrangement of the Company or Subsidiary in which the Executive was
            participating in the year of reference.

      (b)   "Base Pay" means the Executive's annual base salary (prior to any
            deferrals or reductions) at a rate not less than the Executive's
            annual fixed or base compensation as in effect immediately prior to
            the occurrence of a Change in Control or such higher rate as may be
            determined thereafter from time to time by the Board or a committee
            thereof.

<PAGE>

      (c)   "Board" means the Board of Directors of the Company.

      (d)   "Cause" means that, prior to termination pursuant to Section 3(b),
            the Executive shall have committed or engaged in:

            (i)   an intentional act of fraud, embezzlement or theft in
                  connection with the Executive's duties or in the course of the
                  Executive's employment with the Company or a Subsidiary;

            (ii)  intentional wrongful damage to property of the Company or a
                  Subsidiary;

            (iii) intentional wrongful disclosure of secret processes or
                  confidential information of the Company or a Subsidiary;

            (iv)  intentional wrongful engagement in any Competitive Activity;
                  or

            (v)   other intentional activity which in the reasonable judgement
                  of the Board is significantly detrimental to the reputation,
                  goodwill or business of the Company or significantly disrupts
                  the workplace environment or operation of the Company's
                  business or administrative activities.

            For purposes of this Agreement, no act or failure to act on the part
            of the Executive shall be deemed "intentional" if it was due
            primarily to an error in judgment or negligence. An act shall be
            deemed "intentional" only if done or omitted to be done by the
            Executive not in good faith and without reasonable belief that the
            Executive's action or omission was in the best interest of the
            Company. Notwithstanding the foregoing, the Executive shall not be
            deemed to have been terminated for "Cause" hereunder unless and
            until there shall have been delivered to the Executive a copy of a
            resolution duly adopted by the affirmative vote of not less than
            three-quarters of the Board then in office at a meeting of the Board
            called and held for such purpose, after reasonable notice to the
            Executive and an opportunity for the Executive, together with the
            Executive's counsel (if the Executive chooses to have counsel
            present at such meeting), to be heard before the Board, finding
            that, in the good faith opinion of the Board, the Executive had
            committed an act constituting "Cause" as herein defined and
            specifying the particulars thereof in detail. Nothing herein limits
            the right of the Executive or the Executive's beneficiaries to
            contest the validity or propriety of any such determination.

      (e)   "Change-in-Control" means the occurrence during the Term of any of
            the following events:

            i)    The Company is merged, consolidated or reorganized into or
                  with another corporation or other legal person, and as a
                  result of such merger, consolidation or reorganization less
                  than 55% of the combined voting power of the then-outstanding
                  Voting Stock of such corporation or person immediately after
                  such transaction is held in the aggregate by the holders of
                  Voting Stock of the Company immediately prior to such
                  transaction;

                                       2
<PAGE>

            (ii)  The Company sells or otherwise transfers all or substantially
                  all of its assets to another corporation or other legal
                  person, and as a result of such sale or transfer less than 55%
                  of the combined voting power of the then-outstanding Voting
                  Stock of such corporation or person immediately after such
                  sale or transfer is held in the aggregate (directly or through
                  ownership of Voting Stock of the Company or a Subsidiary) by
                  the holders of Voting Stock of the Company immediately prior
                  to such sale or transfer;

            (iii) There is a report filed on Schedule 13D or Schedule 14D-1 (or
                  any successor schedule, form or report), each as promulgated
                  pursuant to the Exchange Act, disclosing that any person (as
                  the term "person" is used in Section 13(d)(3) or Section
                  14(d)(2) of the Exchange Act) has become the beneficial owner
                  (as the term "beneficial owner" is defined under Rule 13d-3 or
                  any successor rule or regulation promulgated under the
                  Exchange Act) of securities representing 20% or more of the
                  combined voting power of the then-outstanding Voting Stock of
                  the Company;

            (iv)  The Company files a report or proxy statement with the
                  Securities and Exchange Commission pursuant to the Exchange
                  Act disclosing in response to Form 8-K or Schedule 14A (or any
                  successor schedule, form or report or item therein) that a
                  change in control of the Company will occur in the future
                  pursuant to a then-existing contract or transaction which when
                  consummated would be a Change in Control determined without
                  regard to this subsection (iv);

            (v)   If, during any period of two consecutive years, individuals
                  who at the beginning of any such period constitute the
                  Directors of the Company cease for any reason to constitute at
                  least a majority thereof; provided, however, that for purposes
                  of this clause (v) each Director who is first elected, or
                  first nominated for election by the Company's stockholders, by
                  a vote of at least two-thirds of the Directors of the Company
                  (or a committee thereof) then still in office who were
                  Directors of the Company at the beginning of any such period
                  will be deemed to have been a Director of the Company at the
                  beginning of such period; or

            (vi)  The approval by the shareholders of the Company of a complete
                  liquidation or dissolution of the Company.

            Notwithstanding the foregoing provisions of Section l(e)(iii) or
            l(e)(iv), unless otherwise determined in a specific case by majority
            vote of the Board, a "Change in Control" shall not be deemed to have
            occurred for purposes of Section l(e)(iii) or l(e)(iv) solely
            because (A) the Company, (B) a Subsidiary, or (C) any
            Company-sponsored employee stock ownership plan or any other
            employee benefit plan of the Company or a Subsidiary either files or
            becomes obligated to file a report or a proxy statement under or in
            response to Schedule 13D, Schedule 14D-1, Form 8-K or Schedule 14A
            (or any successor schedule, form or report or item therein) under
            the Exchange Act disclosing beneficial ownership by it of shares of
            Voting Stock,

                                       3
<PAGE>

            whether in excess of 20% or otherwise, or because the Company
            reports that a Change in Control of the Company has occurred or will
            occur in the future by reason of such beneficial ownership.

      (f)   "Competitive Activity" means the Executive's participation, without
            the written consent of the Chief Executive Officer of the Company
            (or, if the Executive is the Chief Executive Officer, without the
            affirmative vote of not less than a majority of the Board), in the
            management of any business enterprise if such enterprise engages in
            substantial and direct competition with the Company or any of its
            Subsidiaries and such enterprise's sales of any product or service
            competitive with any product or service of the Company or any of its
            Subsidiaries amounted to 10% of such enterprise's net sales for its
            most recently completed fiscal year and if the Company's or
            Subsidiary's net sales of said product or service amounted to 10% of
            the Company's or Subsidiary's net sales for its most recently
            completed fiscal year. "Competitive Activity" will not include the
            mere ownership of not more than 10% of the total combined voting
            power or aggregate value of all classes of stock or other securities
            in such enterprise and the exercise of rights appurtenant thereto.
            It shall be Executive's responsibility to provide the Company with
            information sufficient to make such determinations.

      (g)   "Employee Benefits" means the perquisites, benefits and service
            credit for benefits as provided under any and all employee
            retirement income and welfare benefit policies, plans, programs or
            arrangements in which Executive is entitled to participate,
            including without limitation any stock option, stock purchase, stock
            appreciation, savings, pension, supplemental executive retirement,
            or other retirement income or welfare benefit, deferred
            compensation, incentive compensation, group or other life, health,
            medical/hospital or other insurance (whether funded by actual
            insurance or self-insured by the Company or a Subsidiary),
            disability, salary continuation, expense reimbursement and other
            employee benefit policies, plans, programs or arrangements that may
            now exist or any equivalent successor policies, plans, programs or
            arrangements that may be adopted hereafter by the Company or a
            Subsidiary, providing perquisites, benefits and service credit for
            benefits at least as great in the aggregate as are payable
            thereunder prior to a Change in Control.

      (h)   "Exchange Act" means the Securities Exchange Act of 1934, as
            amended.

      (i)   "Incentive Pay" means an aggregate annual bonus, incentive or other
            payments of cash compensation (determined without regard to any
            deferral election), in addition to Base Pay, pursuant to any bonus,
            incentive, profit-sharing, performance, discretionary pay or similar
            agreement, policy, plan, program or arrangement (whether or not
            funded) of the Company or a Subsidiary, or any successor thereto,
            providing benefits on a basis at least as favorable to the
            Executive, in terms of each of the amount of benefits, levels of
            coverage and performance measures and levels of required
            performance, as the benefits payable thereunder prior to the Change
            in Control.

                                       4
<PAGE>
      (j)   "Severance Period" means, in respect of the occurrence of each and
            every Change in Control, the period of time commencing on the date
            of the occurrence of such Change in Control and continuing until the
            earlier of (i) the second anniversary of the occurrence of such
            Change-in-Control and (ii) the Executive's death; provided, however,
            that in the event of the occurrence of a Change in Control resulting
            from a filing of a report or proxy statement described in subsection
            1(e)(iv) of the definition of Change in Control, the Severance
            Period in respect of such Change in Control shall continue until the
            later of (A) the date provided in this subsection 1(j) determined
            without regard to this proviso or (B) the earlier of (x) the date
            any transaction, occurrence or event described in such report or
            proxy statement (a "Transaction") is consummated or (y) the date it
            is determined that such Transaction will not be consummated. The
            Board may make the determination referred to in clause (y) by
            resolution adopted in good faith.

      (k)   "Subsidiary" means an entity in which the Company directly or
            indirectly beneficially owns 50% or more of the outstanding Voting
            Stock.

      (l)   "Term" means the period commencing as of the Effective Date and
            expiring as of the later of (i) the close of business on the day
            before the third anniversary of the Effective Date or (ii) the
            expiration of the Severance Period; provided, however, that (A)
            commencing on the first anniversary of the Effective Date and each
            anniversary of the Effective Date thereafter, the term of this
            Agreement will automatically be extended for an additional year
            unless, not later than 90 days preceding any anniversary of the
            Effective Date, (1) the Company or the Executive shall have given
            notice that it or the Executive, as the case may be, does not wish
            to have the Term extended, or (2) the Company shall have given
            notice that it wishes the Term to be extended for a period of less
            than one year, in which case the term of this Agreement will
            automatically be extended for such shorter period and will then
            terminate if not further extended by written agreement between the
            Company and the Executive and (B) if, prior to a Change in Control,
            the Executive ceases for any reason to be an employee of the Company
            and any Subsidiary, thereupon without further action the Term shall
            be deemed to have expired and this Agreement will immediately
            terminate and be of no further effect. For purposes of this Section
            1(l), the Executive shall not be deemed to have ceased to be an
            employee of the Company and any Subsidiary by reason of the transfer
            of Executive's employment between the Company and any Subsidiary, or
            among any Subsidiaries.

      (m)   Termination Date" means the date on which the Executive's employment
            is terminated (the effective date of which shall be the date of
            termination, or such other date that may be specified by the
            Executive if the termination is pursuant to Section 3(b)).

      (n)   "Voting Stock," means securities entitled to vote generally in the
            election of directors.

2.    Operation of Agreement. This Agreement will be effective and binding
      immediately upon its execution, but, anything in this Agreement to the
      contrary notwithstanding, this

                                       5
<PAGE>

      Agreement will not be operative unless and until a Change in Control
      occurs. Upon the occurrence of a Change in Control at any time during the
      Term, without further action, this Agreement shall become immediately
      operative.

3.    Termination Following a Change in Control.

      (a)   In the event of the occurrence of a Change in Control, the
            Executive's employment with the Company or a Subsidiary may be
            terminated by the Company or a Subsidiary during the Severance
            Period applicable to such Change in Control and the Executive shall
            be entitled to the benefits provided under Section 4 unless such
            termination is the result of the occurrence of one or more of the
            following events:

            (i)   the Executive's death;

            (ii)  if the Executive becomes permanently disabled within the
                  meaning of, and begins receiving disability benefits pursuant
                  to, the Company or Subsidiary sponsored long-term disability
                  plan in effect for, or applicable to, Executive immediately
                  prior to such Change in Control; or

            (iii) Cause.

            If, during the Severance Period applicable to such Change in
            Control, the Executive's employment is terminated by the Company or
            a Subsidiary other than pursuant to Section 3(a)(i), 3(a)(ii), or
            3(a)(iii), the Executive will be entitled to the benefits provided
            under Section 4 hereof.

      (b)   In the event of the occurrence of a Change in Control, the Executive
            may terminate employment with the Company and all Subsidiaries
            during the Severance Period applicable to such Change in Control,
            with the right to severance compensation as provided in Section 4,
            upon, or at any time (during such Severance Period) after, the
            occurrence of one or more of the following events (regardless of
            whether any other reason, other than Cause as herein above provided,
            for such termination exists or has occurred, including without
            limitation other employment):

            (i)   failure to elect or reelect to the office, or otherwise
                  maintain the Executive in the position, or a substantially
                  equivalent office or position, of or with the Company and/or a
                  Subsidiary, as the case may be, which the Executive held
                  immediately prior to such Change in Control, or the removal of
                  the Executive as a Director of the Company (or any successor
                  thereto) if the Executive shall have been a Director of the
                  Company immediately prior to such Change in Control;

            (ii)  (A) a significant adverse change in the nature or scope of the
                  authorities, powers, functions, responsibilities or duties
                  attached to the position with the Company and its Subsidiaries
                  which the Executive held immediately prior to such Change in
                  Control, or (B) a reduction in the Executive's Base Pay or the
                  opportunity to earn Incentive Pay from the Company, its
                  Subsidiaries or the

                                       6
<PAGE>

                  failure to pay the Executive Base Pay or Incentive Pay earned
                  when due, or (C) the termination or denial of the Executive's
                  rights to Employee Benefits or a reduction in the scope or
                  value thereof (unless, in the case of an insured "welfare
                  plan," within the meaning of Section 3(1) of the Employee
                  Retirement Income Security Act of 1974, as amended, such
                  termination, denial or reduction is pursuant to or the result
                  of a change in insurers or by an insurer in the terms or cost
                  of coverage under an insurance policy or other contract
                  relating to the plan, provided that such termination, denial
                  or reduction is applicable to all similarly situated employees
                  of the Company and its Subsidiaries), any of which is not
                  remedied by the Company within 10 calendar days after receipt
                  by the Company of written notice from the Executive of such
                  change, reduction or termination, as the case may be;

            (iii) a determination by the Executive (which determination will be
                  conclusive and binding upon the parties hereto provided it has
                  been made in good faith and in all events will be presumed to
                  have been made in good faith unless otherwise shown by the
                  Company by clear and convincing evidence) that a change in
                  circumstances has occurred following such Change in Control,
                  including, without limitation, a change in the scope of the
                  business or other activities for which the Executive was
                  responsible immediately prior to such Change in Control, which
                  has rendered the Executive substantially unable to carry out,
                  has substantially hindered Executive's performance of, or has
                  caused Executive to suffer a substantial reduction in, any of
                  the authorities, powers, functions, responsibilities or duties
                  attached to the position held by the Executive immediately
                  prior to such Change in Control, which situation is not
                  remedied within 10 calendar days after written notice to the
                  Company from the Executive of such determination;

            (iv)  the liquidation, dissolution, merger, consolidation or
                  reorganization of the Company or transfer of all or
                  substantially all of its business and/or assets, unless the
                  successor or successors (by liquidation, merger,
                  consolidation, reorganization, transfer or otherwise) to which
                  all or substantially all of its business and/or assets have
                  been transferred (directly or by operation of law) assumed all
                  duties and obligations of the Company under this Agreement
                  pursuant to Section 11(a);

            (v)   the Company relocates its principal executive offices and the
                  Executive's principal location of work is then in such
                  offices, or requires the Executive to have the Executive's
                  principal location of work changed, to any location that is in
                  excess of 50 miles from the location thereof immediately prior
                  to such Change in Control, or requires the Executive to travel
                  away from the Executive's office in the course of discharging
                  the Executive's responsibilities or duties hereunder at least
                  20% more (in terms of aggregate days in any calendar year or
                  in any calendar quarter when annualized for purposes of
                  comparison to any prior year) than the average number of
                  travel days per calendar year that was required of Executive
                  in the three full calendar years

                                       7
<PAGE>

                  immediately prior to such Change in Control, without , in
                  either case, the Executive's prior written consent; or

            (vi)  without limiting the generality or effect of the foregoing,
                  any material breach of this Agreement by the Company or any
                  successor thereto.

      (c)   A termination by the Company pursuant to Section 3(a) or by the
            Executive pursuant to Section 3(b) will not affect any rights that
            the Executive may have pursuant to any agreement, policy, plan,
            program or arrangement of the Company or Subsidiary providing
            Employee Benefits, which rights shall be governed by the terms
            thereof.

4.    Severance Compensation.

      (a)   If, following the occurrence of a Change in Control, the Company or
            a Subsidiary, as the case may be, terminates the Executive's
            employment during the Severance Period applicable to such Change in
            Control other than pursuant to Section 3(a)(i), 3(a)(ii) or
            3(a)(iii), or if the Executive terminates employment pursuant to
            Section 3(b), the Company will pay the Executive the amounts and
            benefits:

            (i)   a lump sum payment in an amount equal to three (3) times the
                  sum of (A) Base Pay, plus (B) the greater of (1) the Annual
                  Bonus for the year in which the Change in Control occurs or
                  (2) the Annual Bonus for the year in which the Termination
                  Date occurs, in either case based on the assumption that
                  target performance goals for such year would be met and such
                  payments would be made assuming Executive was employed for the
                  entire year or until such later date as may be required to
                  receive such payment. Such lump sum payment shall be paid
                  within five business days after the Termination Date.

            (ii)  a lump sum payment in an amount equal to the (A) the greater
                  of (1) the Annual Bonus for the year in which the Change in
                  Control occurs or (2) the Annual Bonus for the year in which
                  the Termination Date occurs, in either case based on the
                  assumption that target performance goals for such year would
                  be met and such payments would be made assuming Executive was
                  employed for the entire year or until such later date as may
                  be required to receive such payment, (B) multiplied by a
                  fraction, the numerator of which is the number of days prior
                  to the Executive's Termination Date during the calendar year
                  in which the Termination Date occurs, and the denominator of
                  which is 365. Such lump sum payment shall be paid within five
                  business days after the Termination Date.

            (iii) (A) for a period of twenty-four (24) months following the
                  Termination Date (the "Continuation Period"), the Company will
                  continue to provide the Executive with benefits substantially
                  similar to those insured "welfare benefits" within the meaning
                  of Section 3(1) of the Employee Retirement Income Security Act
                  of 1974, as amended ("Welfare Benefits") that the

                                       8
<PAGE>

                  Executive was receiving or entitled to receive immediately
                  prior to the Termination Date (or, if greater, immediately
                  prior to the reduction, termination, or denial described in
                  Section 3(b)(ii)), but only to the extent permitted, on terms
                  acceptable to the Company in its sole discretion, by the
                  Company's insurance carriers (which permission the Company
                  will use its best efforts to secure); and (B) for (1)
                  uninsured or self-insured Welfare Benefits and (2) insured
                  Welfare Benefits with respect to which continued coverage is
                  not permitted by the Company's insurance carriers on terms
                  acceptable to the Company, the Company will provide a lump sum
                  payment equal to the present value of the cost of coverage,
                  for a period beginning on the Termination Date (or such later
                  date that continued insurance coverage ceases) and ending
                  twenty-four (24) months after the Termination Date, of the
                  types of welfare benefits referenced in Section
                  4(a)(iii)(B)(1) and (2) substantially similar to those that
                  the Executive was receiving or entitled to receive immediately
                  prior to the Termination Date (or, if greater, immediately
                  prior to the reduction, termination, or denial described in
                  Section 3(b)(ii)); provided, that the cost of such coverage
                  shall be determined at rates in effect as of the Termination
                  Date (or such later date that continued insurance coverage
                  ceases), and the present value of such cost shall be
                  determined using an interest rate equal to the so-called
                  composite "prime rate" in effect as of the Termination Date
                  (or such later date that continued insurance coverage ceases)
                  in the Northeast Edition of The Wall Street Journal. Such lump
                  sum payment shall be paid within five business days after the
                  Termination Date (or, if later, within five business days
                  after continued insurance coverage ceases). Employee Benefits
                  otherwise receivable by the Executive pursuant to subsection
                  (A) of this Section 4(a)(iii) will be reduced to the extent
                  comparable Welfare Benefits are actually received by or in
                  respect of the Executive from another employer during the
                  Continuation Period following the Executive's Termination
                  Date, and any such benefits actually received shall be
                  reported by the Executive or other recipient to the Company.

            (iv)  the length of such Continuation Period will be considered as
                  additional age and service with the Company for the purpose of
                  determining age and service credits (but not for the purpose
                  of determining compensation) and benefits due and payable to
                  or in respect of the Executive under the Management
                  Supplemental Benefit Plan or Key Employee Deferred
                  Compensation Plan, or any successor thereto, of the Company or
                  a Subsidiary applicable to the Executive immediately prior to
                  the Termination Date (or, if greater, immediately prior to the
                  reduction, termination, or denial described in Section
                  3(b)(ii)). In addition, the Company shall provide the
                  Executive with outplacement services by a firm selected by the
                  Executive, at the expense of the Company in an amount up to
                  15% of the Executive's Base Pay.

            In the event the Executive's employment is terminated or the
            Executive terminates employment during more than one Severance
            Period under the circumstances described above in this Section 4
            with entitlement to severance compensation under

                                       9
<PAGE>

            this Section 4, a determination of the payments and benefits to be
            provided under this Section 4 shall be made with respect to each
            Severance Period, but the Executive shall receive only: (i) the
            greatest lump sum payment under Section 4(a)(i) determined with
            respect to all such Severance Periods; (ii) the greatest lump sum
            payment under 4(a)(ii) determined with respect to all such Severance
            Periods; (iii) the greatest lump sum payment under Section 4(a)(iii)
            determined with respect to all such Severance Periods; and (iv) the
            greatest benefits under Section 4(a)(iv) determined with respect to
            all such Severance Periods.

(b)   Without limiting the rights of the Executive at law or in equity, if the
      Company fails to make any payment or provide any benefit required to be
      made or provided hereunder on a timely basis, the Company will pay
      interest on the amount or value thereof at an annualized rate of interest
      equal to the so-called composite "prime rate" as quoted from time to time
      during the relevant period in the Northeast Edition of The Wall Street
      Journal. Such interest is payable as it accrues on demand, but in no event
      must interest be paid more frequently than monthly. Any change in such
      prime rate will be effective on and as of the date of such change.

(c)   Notwithstanding any provision of this Agreement to the contrary, the
      parties' respective rights and obligations under this Section 4 and under
      Sections 5 and 7 will survive any termination or expiration of this
      Agreement or the termination of the Executive's employment following a
      Change in Control for any reason whatsoever.

5.    Certain Additional Payments by the Company.

      (a)   Anything in this Agreement to the contrary notwithstanding, in the
            event that this Agreement shall become operative and it shall be
            determined (as hereafter provided) that any payment or distribution
            by the Company or any of its affiliates to or for the benefit of the
            Executive, whether paid or payable or distributed or distributable
            pursuant to the terms of this Agreement or otherwise pursuant to or
            by reason of any other agreement, policy, plan, program or
            arrangement, including without limitation any stock option, stock
            appreciation right or similar right, or the lapse or termination of
            any restriction on or the vesting or exercisability of any of the
            foregoing (a "Payment"), would be subject to the excise tax imposed
            by Section 4999 of the Internal Revenue Code of 1986, as amended
            (the "Code") (or any successor provision thereto) by reason of being
            considered "contingent on a change in ownership or control" of the
            Company, within the meaning of Section 280G of the Code (or any
            successor provision thereto) or to any similar tax imposed by state
            or local law, or any interest or penalties with respect to such tax
            (such tax or taxes, together with any such interest and penalties,
            being hereafter collectively referred to as the "Excise Tax"), then
            the Executive shall be entitled to receive an additional payment or
            payments (collectively, a "Gross-Up Payment"). The Gross-Up Payment
            shall be in an amount such that, after payment by the Executive of
            all taxes (including any interest or penalties imposed with respect
            to such taxes), including any Excise Tax imposed upon the Gross-Up
            Payment, the Executive retains an

                                       10
<PAGE>

            amount of the Gross-Up Payment equal to the Excise Tax imposed upon
            the Payment.

      (b)   Subject to the provisions of Section 5(f), all determinations
            required to be made under this Section 5, including whether an
            Excise Tax is payable by the Executive and the amount of such Excise
            Tax and whether a Gross-Up Payment is required to be paid by the
            Company to the Executive and the amount of such Gross-Up Payment, if
            any, shall be made by a nationally recognized accounting firm (the
            "Accounting Firm") selected by the Company in the Company's sole
            discretion. The Executive shall direct the Accounting Firm to submit
            its determination and detailed supporting calculations to both the
            Company and the Executive within 30 calendar days after the
            Termination Date, if applicable, and any such other time or times as
            may be requested by the Company or the Executive. If the Accounting
            Firm determines that any Excise Tax is payable by the Executive, the
            Company shall pay the required Gross-Up Payment to the Executive
            within five business days after receipt of such determination and
            calculations with respect to any Payment to the Executive. If the
            Accounting Firm determines that no Excise Tax is payable by the
            Executive, it shall, at the same time as it makes such
            determination, furnish the Company and the Executive an opinion that
            the Executive has substantial authority not to report any Excise Tax
            on the Executive's federal, state or local income or other tax
            return. As a result of the uncertainty in the application of Section
            4999 of the Code (or any successor provision thereto) and the
            possibility of similar uncertainty regarding applicable state or
            local tax law at the time of any determination by the Accounting
            Firm hereunder, it is possible that Gross-Up Payments which will not
            have been made by the Company should have been made (an
            "Underpayment"). In the event that the Company exhausts or fails to
            pursue its remedies pursuant to Section 5(f) and the Executive
            thereafter is required to make a payment of any Excise Tax, the
            Executive shall direct the Accounting Firm to determine the amount
            of the Underpayment that has occurred and to submit its
            determination and detailed supporting calculations to both the
            Company and the Executive as promptly as possible. Any such
            Underpayment shall be promptly paid by the Company to, or for the
            benefit of, the Executive within five business days after receipt of
            such determination and calculations.

      (c)   The Company and the Executive shall each provide the Accounting Firm
            access to and copies of any books, records and documents in the
            possession of the Company or the Executive, as the case may be,
            reasonably requested by the Accounting Firm, and otherwise cooperate
            with the Accounting Firm in connection with the preparation and
            issuance of the determinations and calculations contemplated by
            Section 5(b). Any determination by the Accounting Firm as to the
            amount of the Gross-Up Payment shall be binding upon the Company and
            the Executive.

      (d)   The federal, state and local income or other tax returns filed by
            the Executive shall be prepared and filed on a consistent basis with
            the determination of the Accounting Firm with respect to the Excise
            Tax payable by the Executive. The Executive shall make proper
            payment of the amount of any Excise Tax, and at the request of the

                                       11
<PAGE>

            Company, provide to the Company true and correct copies (with any
            amendments) of the Executive's federal income tax return as filed
            with the Internal Revenue Service and corresponding state and local
            tax returns, if relevant, as filed with the applicable taxing
            authority, and such other documents reasonably requested by the
            Company, evidencing such payment. If prior to the filing of the
            Executive's federal income tax return, or corresponding state or
            local tax return, if relevant, the Accounting Firm determines that
            the amount of the Gross-Up Payment should be reduced, the Executive
            shall within five business days pay to the Company the amount of
            such reduction.

      (e)   The fees and expenses of the Accounting Firm for its services in
            connection with the determinations and calculations contemplated by
            Section 5(b) shall be borne by the Company. If such fees and
            expenses are initially paid by the Executive, the Company shall
            reimburse the Executive the full amount of such fees and expenses
            within five business days after receipt from the Executive of a
            statement therefor and reasonable evidence of the Executive's
            payment thereof.

      (f)   The Executive shall notify the Company in writing of any claim by
            the Internal Revenue Service or any other taxing authority that, if
            successful, would require the payment by the Company of a Gross-Up
            Payment. Such notification shall be given as promptly as practicable
            but no later than 10 business days after the Executive actually
            receives notice of such claim and the Executive shall further
            apprise the Company of the nature of such claim and the date on
            which such claim is requested to be paid (in each case, to the
            extent known by the Executive). The Executive shall not pay such
            claim prior to the earlier of (i) the expiration of the
            30-calendar-day period following the date on which the Executive
            gives such notice to the Company and (ii) the date that any payment
            of amount with respect to such claim is due. If the Company notifies
            the Executive in writing prior to the expiration of such period that
            it desires to contest such claim, the Executive shall:

            (i)   provide the Company with any written records or documents in
                  the Executive's possession relating to such claim reasonably
                  requested by the Company;

            (ii)  take such action in connection with contesting such claim as
                  the Company shall reasonably request in writing from time to
                  time, including without limitation accepting legal
                  representation with respect to such claim by an attorney
                  competent in respect of the subject matter and reasonably
                  selected by the Company;

            (iii) cooperate with the Company in good faith in order effectively
                  to contest such claim; and

            (iv)  permit the Company to participate in any proceedings relating
                  to such claim;

            provided, however, that the Company shall bear and pay directly all
            costs and expenses (including interest and penalties) incurred in
            connection with such contest

                                       12
<PAGE>

            and shall indemnify and hold harmless the Executive, on an after-tax
            basis, for and against any Excise Tax or income tax, including
            interest and penalties with respect thereto, imposed as a result of
            such representation and payment of costs and expenses. Without
            limiting the foregoing provisions of this Section 5(f), the Company
            shall control all proceedings taken in connection with the contest
            of any claim contemplated by this Section 5(f) and, at its sole
            option, may pursue or forego any and all administrative appeals,
            proceedings, hearings and conferences with the taxing authority in
            respect of such claim (provided, however, that the Executive may
            participate therein at the Executive's own cost and expense) and
            may, at its option, either direct the Executive to pay the tax
            claimed and sue for a refund or contest the claim in any permissible
            manner, and the Executive agrees to prosecute such contest to a
            determination before any administrative tribunal, in a court of
            initial jurisdiction and in one or more appellate courts, as the
            Company shall determine; provided, however, that if the Company
            directs the Executive to pay the tax claimed and sue for a refund,
            the Company shall advance the amount of such payment to the
            Executive on an interest-free basis and shall indemnify and hold the
            Executive harmless, on an after-tax basis, from any Excise Tax or
            income or other tax, including interest or penalties with respect
            thereto, imposed with respect to such advance; and provided further,
            however, that any extension of the statute of limitations relating
            to payment of taxes for the taxable year of the Executive with
            respect to which the contested amount is claimed to be due is
            limited solely to such contested amount. Furthermore, the Company's
            control of any such contested claim shall be limited to issues with
            respect to which a Gross-Up Payment would be payable hereunder and
            the Executive shall be entitled to settle or contest, as the case
            may be, any other issue raised by the Internal Revenue Service or
            any other taxing authority.

      (g)   If, after the receipt by the Executive of an amount advanced by the
            Company pursuant to Section 5(f), the Executive receives any refund
            with respect to such claim, the Executive shall (subject to the
            Company's complying with the requirements of Section 5(f)) promptly
            pay to the Company the amount of such refund (together with any
            interest paid or credited thereon less any taxes applicable
            thereto). If, after the receipt by the Executive of an amount
            advanced by the Company pursuant to Section 5(f), a determination is
            made that the Executive shall not be entitled to any refund with
            respect to such claim and the Company does not notify the Executive
            in writing of its intent to contest such denial or refund prior to
            the expiration of 30 calendar days after such determination, then
            such advance shall be forgiven and shall not be required to be
            repaid and the amount of any such advance shall offset, to the
            extent thereof, the amount of Gross-Up Payment required to be paid
            by the Company to the Executive pursuant to this Section 5.

6.    No Mitigation Obligation. The Company hereby acknowledges that it will be
      difficult and may be impossible for the Executive to find reasonably
      comparable employment following the Termination Date and that the
      non-competition covenant contained in Section 8 will further limit the
      employment opportunities for the Executive. Accordingly, the payment of
      the severance compensation by the Company to the Executive in

                                       13
<PAGE>

      accordance with the terms of this Agreement is hereby acknowledged by the
      Company to be reasonable, and the Executive will not be required to
      mitigate the amount of any payment provided for in this Agreement by
      seeking other employment or otherwise, nor will any profits, income,
      earnings or other benefits from any source whatsoever create any
      mitigation, offset, reduction or any other obligation on the part of the
      Executive hereunder or otherwise, except as expressly provided in the last
      sentence of Section 4(a)(iii) and except as may have been otherwise paid
      to the Executive by the Company or a Subsidiary in connection with or in
      consideration of Executive's release and settlement of any or all claims
      arising out of the Executive's employment or termination thereof.

7.    Legal Fees and Expenses. It is the intent of the Company that the
      Executive not be required to incur legal fees and the related expenses
      associated with the interpretation, enforcement or defense of Executive's
      rights under this Agreement by litigation or otherwise because the cost
      and expense thereof would substantially detract from the benefits intended
      to be extended to the Executive hereunder. Accordingly, if it should
      appear to the Executive that the Company has failed to comply with any of
      its obligations under this Agreement or in the event that the Company or
      any other person takes or threatens to take any action to declare this
      Agreement void or unenforceable, or institutes any litigation or other
      action or proceeding designed to deny, or to recover from, the Executive
      the benefits provided or intended to be provided to the Executive
      hereunder, the Company irrevocably authorizes the Executive from time to
      time to retain counsel of Executive's choice, at the expense of the
      Company as hereafter provided, to advise and represent the Executive in
      connection with any such interpretation, enforcement or defense, including
      without limitation the initiation or defense of any litigation or other
      legal action, whether by or against the Company or any Director, officer,
      stockholder or other person affiliated with the Company, in any
      jurisdiction. Notwithstanding any existing or prior attorney-client
      relationship between the Company and such counsel, the Company irrevocably
      consents to the Executive's entering into an attorney-client relationship
      with such counsel, and in that connection the Company and the Executive
      agree that a confidential relationship shall exist between the Executive
      and such counsel. Without respect to whether the Executive prevails, in
      whole or in part, in connection with any of the foregoing, the Company
      will pay and be solely financially responsible for any and all reasonable
      attorneys' and related fees and expenses incurred by the Executive in
      connection with any of the foregoing.

8.    Competitive Activity. During a period ending one year following the
      Termination Date, if the Executive shall have received or shall be
      receiving benefits under Section 4, and, if applicable, Section 5, the
      Executive shall not, without the prior written consent of the Chief
      Executive Officer of the Company, engage in any Competitive Activity.

9.    Employment Rights. Nothing expressed or implied in this Agreement will
      create any right or duty on the part of the Company or the Executive to
      have the Executive remain in the employment of the Company or any
      Subsidiary prior to or following any Change in Control.

                                       14
<PAGE>

10.   Withholding of Taxes. The Company may withhold from any amounts payable
      under this Agreement all federal, state, city or other taxes as the
      Company is required to withhold pursuant to any law or government
      regulation or ruling.

11.   Successors and Binding Agreement.

      (a)   The Company will require any successor (whether direct or indirect,
            by purchase, merger, consolidation, reorganization or otherwise) to
            all or substantially all of the business or assets of the Company,
            by agreement in form and substance satisfactory to the Executive, to
            expressly assume and agree to perform this Agreement in the same
            manner and to the same extent the Company would be required to
            perform it if no such succession had taken place. This Agreement
            will be binding upon and inure to the benefit of the Company and any
            successor to the Company, including without limitation any persons
            acquiring directly or indirectly all or substantially all of the
            business or assets of the Company whether by purchase, merger,
            consolidation, reorganization or otherwise (and such successor shall
            thereafter be deemed the "Company" for the purposes of this
            Agreement), but will not otherwise be assignable, transferable or
            delegable by the Company.

      (b)   This Agreement will inure to the benefit of and be enforceable by
            the Executive's personal or legal representatives, executors,
            administrators, successors, heirs, distributees and legatees

      (c)   This Agreement is personal in nature and neither of the parties
            hereto shall, without the consent of the other, assign, transfer or
            delegate this Agreement or any rights or obligations hereunder
            except as expressly provided in Sections 11(a) and 11(b). Without
            limiting the generality or effect of the foregoing, the Executive's
            right to receive payments hereunder will not be assignable,
            transferable or delegable, whether by pledge, creation of a security
            interest, or otherwise, other than by a transfer by Executive's will
            or by the laws of descent and distribution and, in the event of any
            attempted assignment or transfer contrary to this Section 11(c), the
            Company shall have no liability to pay any amount so attempted to be
            assigned, transferred or delegated.

12.   Notices. For all purposes of this Agreement, all communications, including
      without limitation notices, consents, requests or approvals, required or
      permitted to be given hereunder will be in writing and will be deemed to
      have been duly given when hand delivered or dispatched by electronic
      facsimile transmission (with receipt thereof orally confirmed), or five
      business days after having been mailed by United States registered or
      certified mail, return receipt requested, postage prepaid, or three
      business days after having been sent by a nationally recognized overnight
      courier service such as Federal Express or UPS, addressed to the Company
      (to the attention of the Corporate Secretary of the Company) at its
      principal executive office and to the Executive at the Executive's
      principal residence, or to such other address as any party may have
      furnished to the other in writing and in accordance herewith, except that
      notices of changes of address shall be effective only upon receipt.

                                       15
<PAGE>

13.   Governing Law. The validity, interpretation, construction and performance
      of this Agreement will be governed by and construed in accordance with the
      substantive laws of the State of Michigan, without giving effect to the
      principles of conflict of laws of such State.

14.   Validity. If any provision of this Agreement or the application of any
      provision hereof to any person or circumstances is held invalid,
      unenforceable or otherwise illegal, the remainder of this Agreement and
      the application of such provision to any other person or circumstances
      will not be affected and the provision so held to be invalid unenforceable
      or otherwise illegal will be reformed to the extent (and only to the
      extent) necessary to make it enforceable, valid or legal.

15.   Miscellaneous. No provision of this Agreement may be modified, waived or
      discharged unless such waiver, modification or discharge is agreed to in
      writing signed by the Executive and the Company. No waiver by either party
      hereto at any time of any breach by the other party hereto or compliance
      with any condition or provision of this Agreement to be performed by such
      other party will be deemed a waiver of similar or dissimilar provisions or
      conditions at the same or at any prior or subsequent time. No agreements
      or representations, oral or otherwise, expressed or implied with respect
      to the subject matter hereof have been made by either party which are not
      set forth expressly in this Agreement. References to Sections are to
      references to Sections of this Agreement.

16.   Prior Agreements. As of the effective date hereof, this Agreement
      supersedes and replaces any prior change-in-control severance agreement
      between the Company or any of its Subsidiaries and the Executive.

17.   Counterparts. This Agreement may be executed in one or more counterparts,
      each of which shall be deemed to be an original but all of which together
      will constitute one and the same agreement.

IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed
and delivered as of the dates set forth below.

DTE ENERGY COMPANY
______________________________________
Susan M. Beale                                   Date: _________________________
Vice President and Corporate Secretary
______________________________________
[Executive's Name]                               Date: _________________________

                                       16

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