Document:

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                                                              EXHIBIT (10)(xxvi)
                                                               EXECUTION VERSION

                                 FIRST AMENDMENT

                                       TO

                            STOCK PURCHASE AGREEMENT

                                  BY AND AMONG

                          COOPER TIRE & RUBBER COMPANY,

                     COOPER TYRE & RUBBER COMPANY UK LIMITED

                                       AND

                              CSA ACQUISITION CORP.

                          DATED AS OF DECEMBER 3, 2004

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                   FIRST AMENDMENT TO STOCK PURCHASE AGREEMENT

      THIS FIRST AMENDMENT TO STOCK PURCHASE AGREEMENT (this "AMENDMENT"), dated
as of December 3, 2004, amends that certain Stock Purchase Agreement, dated as
of September 16, 2004 (the "AGREEMENT"), by and among Cooper Tire & Rubber
Company, a Delaware corporation ("COOPER"), Cooper Tyre & Rubber Company UK
Limited, a company organized under the laws of England and Wales ("COOPER UK"
and, together with Cooper, the "SELLERS") and CSA Acquisition Corp., a Delaware
corporation ("BUYER").

      A. The parties hereto have previously executed and delivered the
Agreement;

      B. Pursuant to Section 9.4 of the Agreement, the Agreement may be amended
with the written consent of the Sellers and Buyer; and

      C. The parties desire to amend the Agreement as set forth in this
Amendment;

      NOW, THEREFORE, in consideration of the foregoing and the representations,
warranties, covenants and agreements herein contained and intending to be
legally bound hereby, Buyer and Sellers hereby agree as follows:

                                    ARTICLE I
                                   DEFINITIONS

      Unless otherwise stated in this Amendment, capitalized terms used herein
but not defined have the meaning assigned to them in the Agreement.

                                   ARTICLE II
                             AMENDMENT OF AGREEMENT

      2.1 DEFINITIONS. Article I of the Agreement is hereby amended to add or
amend and restate the following defined terms:

      "FINAL PURCHASE PRICE" means an amount equal to the Preliminary Purchase
Price, as adjusted to reflect the differences, if any, between (a) Estimated
Cash and Cash Equivalents and Final Cash and Cash Equivalents, (b) Estimated
Debt Obligations and Final Debt Obligations and (c)(i) Target Working Capital
less $30,000,000 and (ii) Working Capital (as finally determined pursuant to
SECTION 2.2(c)(II)). For clarification purposes, in calculating the Final
Purchase Price, the Preliminary Purchase Price shall be (x) increased dollar for
dollar to the extent (A) Working Capital exceeds Target Working Capital less
$30,000,000, (B) Final Cash and Cash Equivalents exceeds Estimated Cash and Cash
Equivalents and (C) Estimated Debt Obligations exceed Final Debt Obligations;
and (y) decreased dollar for dollar to the extent (A) Target Working Capital
less $30,000,000 exceeds Working Capital, (B) Estimated Cash and Cash
Equivalents exceeds Final Cash and Cash Equivalents and (C) Final Debt
Obligations exceed Estimated Debt Obligations.

      "PER DIEM AMOUNT" means $150,000 multiplied by the number of calendar days
from and including January 1, 2005 through and including the Closing Date.

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      "PERMANENT FINANCING" means the debt financing contemplated by the Debt
Securities (as defined and described in the Debt Financing Commitment),
excluding, for the sake of clarity, the Bridge Loan facility contemplated by the
Debt Financing Commitments.

      "TARGET WORKING CAPITAL" means $193,000,000.

      "WORKING CAPITAL" means the amount, if any, by which the current assets of
the Sold Companies and their consolidated Subsidiaries as of the opening of
business on the Closing Date exceed (b) the current liabilities of the Sold
Companies and their consolidated Subsidiaries as of the opening of business on
the Closing Date.

      For purposes of calculating Working Capital, current assets and current
liabilities includes only those accounts reflected on Annex A under the column
"Working Capital, as defined at Sept. 30, 2004". For the purposes of the
foregoing, these accounts will be determined in accordance with GAAP and
consistent with the accounting principles, procedures, policies and methods that
were employed in preparing the accounts reflected in the column "CSA Sept. 30,
2004, as reported" on Annex A. For the avoidance of doubt, any adjustments to
Working Capital due solely to the transactions contemplated by the Agreement and
this Amendment (including any purchase accounting adjustments) will be
disregarded for the purposes of the calculation of Working Capital. On Annex A,
the column "CSA Sept. 30, 2004, as reported" is based on the internal Hyperion
balance sheet of the Sold Companies and their consolidated Subsidiaries. Certain
assets and liabilities relating to the Sold Companies and their consolidated
Subsidiaries, as specified in Annex B, are retained on Cooper's records at
September 30, 2004. To the extent that any of the assets and liabilities
relating to the Sold Companies and their consolidated Subsidiaries, as specified
in Annex B, is recorded on the internal Hyperion balance sheet of the Sold
Companies and their consolidated Subsidiaries on the Closing Date, such assets
and liabilities will be excluded from the calculation of Working Capital.

      "WORKING CAPITAL STATEMENT" has the meaning set forth in SECTION
2.2(c)(I).

      2.2 CONSIDERATION. Section 2.2 of the Agreement is hereby amended by
deleting it and replacing it with the following:

      "CONSIDERATION. (a) On the Closing Date and subject to the terms and
conditions set forth in this Agreement, the Buyer will pay to Cooper and Cooper
UK, in consideration of the sale, assignment and transfer of the Shares, the
aggregate sum of $1,157,500,000 in cash (in U.S. dollars) plus all Estimated
Cash and Cash Equivalents minus (i) all Estimated Debt Obligations and (ii)
$30,000,000 (the "PRELIMINARY PURCHASE PRICE"). Such amount shall be paid to the
applicable Seller on the Closing Date by means of one or more wire transfers of
immediately available funds to an account or accounts designated in writing by
Cooper at least one Business Day prior the Closing Date.

      (b) (i) The Preliminary Purchase Price shall be allocated among the Shares
sold by each Seller in accordance with applicable Law and as set forth on
SCHEDULE 2.2(b) (the "PURCHASE PRICE ALLOCATION"). None of the Sellers, the
Buyer or their respective Affiliates shall take any position inconsistent with
the Purchase Price Allocation on any Tax Return or in any audit or other
proceeding relating to Taxes unless otherwise required by applicable Law.

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      (ii) If an adjustment is made to the (A) Preliminary Purchase Price
pursuant to SECTIONS 2.2(c) or 2.3 hereof or otherwise or (B) Final Purchase
Price, the parties shall jointly agree to allocate such adjustment among the
Shares sold by each Seller in accordance with applicable Law and consistent with
the allocations set forth on SCHEDULE 2.2(b) (the "ADJUSTED PURCHASE PRICE
ALLOCATION"). If after good faith negotiations, the parties cannot agree upon
the allocation of such adjustment among the Shares sold by each Seller and such
non-competition and non-solicitation covenants within thirty (30) days after
such adjustment was made, then Cooper and Buyer jointly shall engage the
Arbitration Firm to resolve such dispute and whose fees shall be borne equally
by Cooper and Buyer. The determination by the Arbitration Firm shall be binding
on the parties. None of the Sellers, the Buyer or their respective Affiliates
shall take any position inconsistent with the Adjusted Purchase Price Allocation
on any Tax Return or in any audit or other proceeding relating to Taxes unless
otherwise required by Law.

      (c) (i) Within 45 days following the Closing Date, Buyer shall prepare and
deliver to Cooper a statement (the "WORKING CAPITAL STATEMENT") containing a
certificate setting forth the calculation of the Working Capital as of the
opening of business on the Closing Date, together with the workpapers used in
the preparation thereof. The Working Capital Statement shall be prepared in
accordance with the definition of Working Capital.

      (ii) After receipt of the Working Capital Statement, Cooper shall have
thirty (30) days to review the Working Capital Statement, together with the
workpapers used in the preparation thereof. Cooper may dispute items reflected
in the calculation of Working Capital only on the basis that such amounts (i)
were not determined in accordance with GAAP or otherwise as required by the
definition of Working Capital or (ii) contain arithmetic error. If within the
30-day period following receipt by Cooper of the Working Capital Statement,
Cooper shall deliver written notice to the Buyer of any dispute it has with
respect to the preparation and content of the Working Capital Statement. Such
notice must describe in reasonable detail the items contained in the Working
Capital Statement that Cooper disputes and the basis for any such disputes. If
Cooper does not notify the Buyer of a dispute with respect to the Working
Capital Statement within such 30-day period, such Working Capital Statement or
any amounts thereon that are not disputed will be final, conclusive and binding
on the parties. In the event of such notification of a dispute, the non-disputed
items will be final, conclusive and binding on the parties and subject to
payment in accordance with SECTION 2.3(e) and SECTION 2.3(f), and Cooper and
Buyer shall negotiate in good faith to resolve any amounts in dispute. If Cooper
and Buyer, notwithstanding such good faith effort, fail to resolve all amounts
in dispute within ten (10) days after Cooper advises Buyer of its objections,
then Cooper and Buyer jointly shall engage the Arbitration Firm to resolve the
amounts in dispute. As promptly as practicable thereafter, Cooper and Buyer
shall each prepare and submit a written presentation to the Arbitration Firm. As
soon as practicable thereafter, Cooper and Buyer shall cause the Arbitration
Firm to determine based solely upon the presentations by Cooper and Buyer, only
those issues still in dispute and only as to whether such amounts were arrived
at in conformity with GAAP, as modified by the manner used to calculate the
Target Working Capital. All fees and expenses relating to this work of the
Arbitration Firm shall be borne by the party whose position was not selected by
the Arbitration Firm. All determinations made by the Arbitration Firm will be
final, conclusive and binding on the parties. For purposes of clarification, if
some but not all of the Working Capital Statement is not

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disputed, such undisputed amounts shall be paid in accordance with SECTION
2.3(e) and SECTION 2.3(f) as they are finally determined pursuant to this
SECTION 2.2(c)(ii)."

      (iii) For purposes of complying with the terms set forth in this SECTION
2.2(c), each party shall cooperate with and make available to the other parties
and their respective representatives all information, records, data and working
papers, and shall permit reasonable access to its facilities and personnel, as
may be reasonably required in connection with the preparation and analysis of
the Working Capital Statement and the resolution of any disputes thereunder.

      (iv) The difference between Working Capital and Target Working Capital
less $30,000,000 will be included in the computation of the Final Purchase Price
and will be paid in accordance with SECTIONS 2.3(e) and (f).

      (d) Notwithstanding anything in this Agreement to the contrary, if any of
the Sellers fails to provide the Buyer with the certification provided in
SECTION 2.5(a)(v) in whole or in part, the Buyer shall be entitled to withhold
the requisite amount from the Preliminary Purchase Price in accordance with
Section 1445 of the Internal Revenue Code of 1986, as amended (the "CODE"), and
the Treasury Regulations promulgated thereunder or other applicable Law."

      2.3 ADJUSTMENT TO CASH AND CASH EQUIVALENTS AND DEBT OBLIGATIONS.

            (a) Section 2.3 of the Agreement is renamed "Adjustment to Cash and
      Cash Equivalents and Debt Obligations; Post-Closing Payments."

            (b) The first sentence of Section 2.3(a) of the Agreement is hereby
      amended by deleting it and replacing it with the following:

            "Five (5) Business Days prior to the Closing Date, Cooper shall
      prepare and deliver to Buyer a statement (the "ESTIMATED CASH AND DEBT
      STATEMENT") of (i) a good faith estimate of the amount of Cash and Cash
      Equivalents anticipated to exist immediately prior to the Closing (the
      "ESTIMATED CASH AND CASH EQUIVALENTS"), and (ii) a good faith estimate of
      the Debt Obligations of the Sold Companies and the wholly-owned
      Subsidiaries and the Venture Entity and Non-Wholly Owned Subsidiary Debt
      Obligations anticipated to be outstanding immediately prior to the Closing
      ("ESTIMATED DEBT Obligations")."

            (c) Section 2.3(c) of the Agreement is hereby amended by deleting it
      and replacing it with the following:

            "(c) Within fifteen (15) days following receipt by Cooper of the
      Final Cash and Debt Statement, Cooper shall deliver written notice to
      Buyer of any dispute it has with respect to the preparation or content of
      the Final Cash and Debt Statement. Such notice must describe in reasonable
      detail the items contained in the Final Cash and Debt Statement that
      Cooper disputes and the basis for any such disputes. If Cooper does not
      notify Buyer of a dispute with respect to the Final Cash and Debt
      Statement within such 15-day period, such Final Cash and Debt Statement
      will be final, conclusive and binding

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      on the parties. In the event of such notification of a dispute, the
      non-disputed items will be final, conclusive and binding on the parties
      and subject to payment in accordance with SECTION 2.3(e) and SECTION
      2.3(f), and Cooper and Buyer shall negotiate in good faith to resolve any
      amounts in dispute. If Cooper and Buyer, notwithstanding such good faith
      effort, fail to resolve all amounts in dispute within ten (10) days after
      Cooper advises Buyer of its objections, then Cooper and Buyer jointly
      shall engage the Arbitration Firm to resolve the amounts in dispute. As
      promptly as practicable thereafter, Cooper and Buyer shall each prepare
      and submit a written presentation to the Arbitration Firm. As soon as
      practicable thereafter, Cooper and Buyer shall cause the Arbitration Firm
      to determine based solely upon the presentation by Cooper and Buyer only
      those issues still in dispute. All fees and expenses relating to this work
      of the Arbitration Firm shall be borne by the party whose position was not
      selected by the Arbitration Firm. All determinations made by the
      Arbitration Firm will be final, conclusive and binding on the parties. For
      purposes of clarification, if some but not all of the Final Cash and Debt
      Statement is not disputed, such undisputed amounts shall be paid in
      accordance with SECTION 2.3(e) and SECTION 2.3(f) as they are finally
      determined pursuant to this SECTION 2.3(c)."

            (d) Sections 2.3(e) and (f) of the Agreement are hereby amended by
      replacing the four references to "Section 2.3(c)" with "Sections
      2.2(c)(ii) and 2.3(c)."

            (e) A new Section 2.3(g) of the Agreement is hereby added:

            "(g) If the Closing occurs on or after January 1, 2005, at the time
      the first payment by Buyer or Cooper as contemplated by SECTIONS 2.3(e)
      and (F) is made, Buyer shall pay to Cooper by means of one or more wire
      transfers of immediately available funds to an account or accounts
      designated in writing by Cooper an amount in cash (in U.S. dollars) equal
      to the Per Diem Amount. Notwithstanding the foregoing, no payment will be
      due to Cooper under this SECTION 2.3(g) if (i)(A) a material adverse
      change or material disruption occurs after the date hereof in the
      financial, banking or capital markets generally (including, without
      limitation, the markets for loans to or debt securities issued by
      companies similar to Buyer or the Business) or (B) subsequent to September
      30, 2004, any event or development has occurred relating to the Business
      (individually or in the aggregate), in either case that has had a material
      adverse effect on the Buyer's ability to complete the Permanent Financing
      prior to December 31, 2004 or (ii) any of the conditions set forth in
      SECTIONS 6.1 or 6.3 (including any failure of the Sellers to comply in all
      material respects with the agreements and covenants contained herein and
      excluding SECTION 6.3(e) except to the extent the failure of such
      condition to be satisfied is attributable to the Sellers or their
      subsidiaries (including the Sold Companies and the Subsidiaries)) has not
      been satisfied or waived by Buyer (or, with respect to those conditions
      which by their terms are not expected to be satisfied until the Closing
      Date, would have not been so satisfied) on or prior to December 31, 2004."

      2.4 EMPLOYEES; BENEFIT PLANS COVENANTS.

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            (a) Subclause (ii) of Section 5.7(i)(ii)(C)(x) of the Agreement
      (through the end of the parenthetical of which such subclause is a part)
      is hereby amended by deleting it and replacing it with the following:

            "(ii) in the case of the Employment Agreement, arise from a
      termination of employment on or before December 31, 2007)"

            (b) A new Section 5.7(w) is hereby added to the Agreement that reads
      as follows:

            "(w) Promptly following December 3, 2004 and continuing through the
      Closing, Sellers shall use best efforts to amend the applicable Assumed
      Plans, the Standard Products Company (Gaylord, Michigan Plant) UAW Local
      388 Collectively Bargained Savings and Retirement Plan and Cooper's
      Pension Plan to reflect applicable terms as set forth in items 4, 5 and 6
      of SCHEDULE 5.1(h), including distribution options and contribution
      requirements. Prior to the Closing, Sellers shall also prepare and submit
      voluntary compliance filings to the Internal Revenue Service with respect
      to such amendments. Sellers shall provide Buyer copies of such filings
      prior to submission and provide Buyer with reasonable time to review and
      comment on such submissions, which Sellers shall incorporate. Commencing
      as of the Closing, Buyer shall take primary responsibility for completing
      the voluntary compliance filings with the Internal Revenue Service, and
      Sellers shall be entitled to reasonably consult with Buyer and comment,
      which Buyer shall in good faith take into account in respect of Buyer's
      completion of such voluntary compliance process, and Buyer shall notify
      Sellers of any proposal of the Internal Revenue Service to levy any tax,
      fine, cost or other charge in connection with such voluntary compliance
      process so as to allow Sellers a reasonable time to consult with Buyer
      with respect to such proposal."

      2.5 FINANCING.

            (a) Section 5.23 of the Agreement is hereby amended to add the
      following at the beginning thereof:

            "Subject to Section 5.24,"

            (b) A new Section 5.24 is hereby added to the Agreement that reads
      as follows:

      "5.24 FINANCING. Buyer shall promptly use commercially reasonable efforts
to market the Permanent Financing. If Buyer is unable to consummate the
Permanent Financing on the terms set forth in the Debt Financing Commitment and
otherwise acceptable to it on or prior to December 31, 2004, Buyer may instead
use commercially reasonable efforts to market the Permanent Financing after
December 31, 2004. If Buyer is unable to consummate the Permanent Financing on
or prior to January 31, 2005, Buyer shall (subject to the satisfaction or waiver
by Buyer of the conditions set forth in SECTIONS 6.1 and 6.3 of the Agreement)
use commercially reasonable efforts to make borrowings under the bridge loan
facility in place of the Permanent

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Financing as contemplated by the Debt Financing Commitments, subject to the
terms and conditions thereof, not later than January 31, 2005."

      2.6 REAL PROPERTY. A new Section 5.25 is hereby added to the Agreement
that reads as follows:

      "5.25 REAL PROPERTY - GRIFFIN, GEORGIA. If it is determined that the
facility located at 200 Wilson Road, Griffin, Georgia is Leased Real Property
and not Owned Real Property, Sellers shall promptly endeavor to cause Standard
to consummate the purchase of the fee interest in such facility from the Griffin
Spalding Development Authority prior to Closing. In the event Sellers are not
able to cause Standard to consummate the purchase of the fee interest in such
facility prior to Closing, Sellers shall indemnify the Buyer Indemnified Parties
for any Liabilities and Losses due to such inability to transfer the facility
pursuant to SECTION 8.1(a)(xvi)."

      2.7 TERMINATION. Section 7.1(b) of the Agreement is hereby amended by
deleting it and replacing it with the following:

      "(b) by Cooper or the Buyer, upon written notice to the other party, if
the Closing has not occurred on or before January 31, 2005 (the "OUTSIDE DATE"),
unless the failure of such consummation is due to the failure of the party
wishing to terminate to comply in all material respects with the agreements and
covenants contained herein;"

      2.8 INDEMNIFICATION BY THE SELLERS.

            (a) Section 8.1(a) of the Agreement is hereby amended to add the
      following at the end thereof:

            "(xv) (I) the failure of any Assumed Plan, the Standard Products
      Company (Gaylord, Michigan Plant) UAW Local 388 Collectively Bargained
      Savings and Retirement Plan or Cooper's Pension Plan (for purposes of this
      subsection (XV), each a "Plan") to reflect applicable terms as set forth
      in items 4, 5 and 6 of SCHEDULE 5.1(h), including distribution options and
      contribution requirements, (II) the failure of a Plan prior to the
      Closing, or following the Closing in respect of the compliance issues set
      forth in items 4, 5 and 6 of SCHEDULE 5.1(h), to be administered pursuant
      to its terms, Plan amendments and/or Internal Revenue Service voluntary
      compliance filings described in SECTION 5.7(w) (provided that this clause
      (II) shall not apply with respect to any such failure that results from
      the negligence of Standard), (III) the unwinding or other correction or
      alteration of the changes permitted in items 4, 5 and 6 of SCHEDULE 5.1(h)
      or (IV) any tax, fine, cost or other charge imposed by the Internal
      Revenue Service in connection with the Internal Revenue Service voluntary
      compliance filings described in SECTION 5.7(w); and (xvi) Sellers'
      inability to cause Standard to consummate the purchase of the fee interest
      in the facility located at 200 Wilson Road, Griffin, Georgia from the
      Griffin Spalding Development Authority prior to Closing."

            (b) Section 8.4 of the Agreement is hereby amended by replacing the
      reference to "subclauses (ii)-(xiv)" with "subclauses (ii)-(xvi)."

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      2.9 INDEMNIFICATION BY THE BUYER. Section 8.2(a)(iii) is hereby amended by
deleting it and replacing it with the following:

      (iii) any payments required to be made by the Sellers after the Closing
under the guarantees set forth as items 4, 5, 6, 9, 10, 14, 20, 21 and 22 on
SCHEDULE 3.6(b).

                                   ARTICLE III
                             AMENDMENT OF SCHEDULES

      3.1 RESTRUCTURING. Notwithstanding Section 5.17(b) of the Agreement, a new
Schedule B is hereby added to the disclosure schedules to the Agreement as set
forth on Exhibit A hereto.

      3.2 PURCHASE PRICE ALLOCATION SCHEDULE. Notwithstanding Section 5.17(b) of
the Agreement, a new Schedule 2.2(b) is hereby added to the disclosure schedules
to the Agreement as set forth on Exhibit B hereto.

      3.3 SUBSIDIARY SCHEDULE. Notwithstanding Section 5.17(b) of the Agreement,
Schedule 3.4(a) to the Agreement is hereby amended and restated as set forth on
Exhibit C hereto.

      3.4 CONSENT SCHEDULE. Notwithstanding Section 5.17(b) of the Agreement,
Schedule 3.6(b) to the Agreement is hereby amended and restated as set forth on
Exhibit D hereto.

      3.5 REAL PROPERTY SCHEDULE. Notwithstanding Section 5.17(b) of the
Agreement, Schedule 3.18(b) is amended by noting beside the property listed on
such Schedule that is located at 200 Wilson Road, Griffin, Georgia that such
property may be Leased Real Property and not Owned Real Property. Nothing
contained in this Section 3.5 of this Amendment and Section 5.25 of the
Agreement shall be taken into account for purposes of determining whether the
conditions precedent in ARTICLE VI of the Agreement are satisfied.

      3.6 DIRECTOR AND OFFICER SCHEDULE. Notwithstanding Section 5.17(b) of the
Agreement, Schedule 3.26 to the Agreement is hereby amended and restated as set
forth on Exhibit E hereto.

      3.7 INTERIM COVENANT SCHEDULE. Notwithstanding Section 5.17(b) of the
Agreement, Schedule 5.1 to the Agreement is hereby amended and restated as set
forth on Exhibit F hereto.

                                   ARTICLE IV
                            MISCELLANEOUS AND GENERAL

      4.1 DELIVERIES. Concurrently with the execution and delivery of this
Amendment, Buyer will deliver to Cooper amended Financing Commitments, which
amendments extend the expiration of the Financing Commitments to January 31,
2005.

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      4.2 ARTICLE IX OF THE AGREEMENT. The provisions of Article IX of the
Agreement are incorporated into, and made part of, this Amendment.

      4.3 COMPLETE AGREEMENT. The Agreement, as amended by this Amendment, and
the disclosure schedules and exhibits hereto and thereto and the other documents
delivered by the parties in connection herewith, together with the
Confidentiality Agreement, contain the complete agreement between the parties
hereto with respect to the transactions contemplated hereby and thereby and
supersede all prior agreements and understandings between the parties hereto
with respect thereto.

      4.4 CAPTIONS. The captions contained in this Amendment are for convenience
of reference only and do not form a part of this Amendment.

      4.5 AMENDMENT. This Amendment may be amended or modified only by an
instrument in writing duly executed by Buyer and Sellers.

      4.6 GOVERNING LAW. This Amendment will be construed under and governed by
the Laws of the State of Delaware applicable to contracts made and to be
performed in that State.

      4.7 COUNTERPARTS. This Amendment may be executed in two or more
counterparts, all of which will be considered one and the same agreement and
each of which will be deemed an original.

                       [SIGNATURES ON THE FOLLOWING PAGE]

                                       9
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      IN WITNESS WHEREOF, Buyer and Sellers have executed or have caused this
Amendment to be executed as of the day and year first above written.

                                         COOPER TIRE & RUBBER COMPANY

                                         By: /s/ Philip G. Weaver
                                             ----------------------------------
                                             Name: Philip G. Weaver
                                             Title: Vice President and Chief
                                                    Financial Officer

                                         COOPER TYRE & RUBBER COMPANY UK LIMITED

                                         By: /s/ Philip G. Weaver
                                             ----------------------------------
                                             Name: Philip G. Weaver
                                             Title: Director

                                         CSA ACQUISITION CORP.

                                         By: /s/ David P. Spalding
                                             ----------------------------------
                                             Name: David P. Spalding
                                             Title: Chief Executive Officer<PAGE>

                                                             EXHIBIT (10)(xxvii)

                                                                [EXECUTION COPY]

            THIS STRATEGIC SUBSCRIPTION AGREEMENT (this "AGREEMENT") is dated
January 7, 2005 and is made by and between KUMHO TIRE CO., INC., a limited
liability company established under the laws of the Republic of Korea (the
"COMPANY"), and COOPER TIRE & RUBBER COMPANY, a Delaware corporation (the
"INVESTOR").

            WHEREAS, the Company proposes to offer and sell its common shares,
par value Won 5,000 per share (the "SHARES") and global depositary shares
representing Shares (the "GDSS") by way of a global offering of Shares and GDSs,
which may include a secondary offering (the "OFFERING"), comprising:

                        (i) an initial public offering of Shares in Korea (the
            "KOREAN OFFERING"), and

                        (ii) an international offering of GDSs without being
            registered under the U.S. Securities Act of 1933, as amended (the
            "SECURITIES ACT"), to (x) qualified institutional buyers in
            compliance with the exemption from registration provided by Rule
            144A under the Securities Act, (y) an institutional accredited
            investor (within the meaning of Rule 501(a)(1), (2), (3) or (7)
            under the Securities Act) that is not a qualified institutional
            buyer and that is purchasing for its own account or for the account
            of another institutional accredited investor and (z) non-U.S.
            persons in offshore transactions in reliance on Regulation S under
            the Securities Act (the "INTERNATIONAL OFFERING");

            and to list the Shares and the GDSs for trading simultaneously on
the Korea Stock Exchange and the London Stock Exchange, respectively; and

            WHEREAS, the Company and the Investor wish to cooperate to promote
their mutual interests and build a lasting and mutually beneficial strategic
relationship and, consistent with this, the Investor is now willing to make an
equity investment in the Company on the basis and terms set out in this
Agreement.

            NOW, THEREFORE, in consideration of the mutual promises and
agreements set forth herein and for other valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto hereby
agree as follows:

            SECTION 1. Investment. The Investor agrees that, if the Offering of
the Shares occurs as contemplated and described in this Agreement, the Company
will use its best endeavors to enable the Investor to participate in the
Offering to purchase the Investor Shares (as hereinafter defined) in the
Offering at the aggregate Initial Price to Public (as hereinafter defined), and
the Investor will purchase the Investor Shares at the aggregate Initial Price to
Public under and as part of the Offering (the "TRANSACTION"), provided that the
Investor's obligation to purchase the Investor Shares is conditioned upon the
Initial Price to Public being at or below Won 19,000 per Share (the "PRICE
CAP"). In the case that the Initial Price to Public is likely to be higher than
the Price Cap in the judgment of the Company, then the Company will notify the
Investor and the Investor will reconsider the Price Cap.

                                       1
<PAGE>

            "INVESTOR SHARES" means 7,500,000 Shares (in the form of GDSs at the
time of Closing (as hereinafter defined)) to be purchased by the Investor
pursuant to the provisions of this Agreement at the Initial Price to Public per
Share to be determined by the Company and J.P. Morgan Securities Ltd., as sole
global coordinator and international bookrunner for the Offering ("JPMORGAN").
The Investor Shares will represent at least 10.7% of the Company's issued Shares
on a fully diluted basis after the completion of the Offering.

            "INITIAL PRICE TO PUBLIC" means the price per Investor Share at
which Shares (in the form of GDSs) are acquired by investors under the
International Offering and determined as referred to in Section 8(a)(ii).

            SECTION 2. Agreement Conditional upon Completion of Offering. The
Investor's agreements in Sections 1 and 3 hereof (and the right of the Investor
to acquire the Investor Shares) are conditional upon underwriting agreements for
each of the Korean Offering and the International Offering being entered into
and the completion of the Offering (in accordance with their respective original
terms or as subsequently varied by agreement of the relevant parties) by June
30, 2005. The Company intends to use its best efforts to ensure that the
Offering is completed by June 30, 2005. No liability to the Investor or the
Company will arise if the Offering is not completed by June 30, 2005.

            SECTION 3. Closing. (a) Subject to Sections 1 and 2, the Investor
will acquire the Investor Shares pursuant to this Agreement, as part of the
International Offering and through JPMorgan in its capacity as underwriter of
the International Offering. Accordingly, subject to this Section 3(a), the
Investor Shares will be acquired simultaneously with settlement of the
International Offering. The closing of the Transaction (the "CLOSING") shall
occur simultaneously with the closing date of the Offering (the "CLOSING DATE"),
and the Company shall use reasonable endeavors to notify the Investor promptly
as to the expected Closing Date. Payment for and delivery of the Investor Shares
shall be made on the date notified to the Investor by JPMorgan which shall not
be later than 31 days after the date of pricing of the International Offering as
referred to in Section 8(a)(ii), but otherwise on the same basis on which GDSs
are delivered to other investors which acquire GDSs in the International
Offering through JPMorgan, as underwriter of the International Offering (or in
any other manner which the Company, JPMorgan and the Investor may agree).

            (b) In the event that any over-allotment Shares (the "OVER-ALLOTMENT
SHARES") (in the form of GDSs) are issued upon exercise of any over-allotment
option granted to the underwriters in connection with the Offering (the
"OVER-ALLOTMENT OPTION"), the Investor shall not subscribe for any such
Over-allotment Shares.

            SECTION 4. Restrictions on Disposals by the Investor. The Investor
agrees that it will not Dispose (as hereinafter defined) of any of the Investor
Shares at any time without the prior written consent of the Company, except on
or after the third anniversary of the Closing Date, the Investor may exercise
the Put Option as defined in Section 5(a) (subject to the approval of the Bank
of Korea as set forth in Section 5(a)). The Investor and the Company confirms
that, if the Company fails to (x) deliver the Put Acceptance Notice (as defined
in Section 5(a)) or (y) purchase the Investor Shares pursuant to Section 5(a)
following the due exercise of the Put Option by the Investor pursuant to Section
5(a), the Investor shall have the right and discretion to sell the Investor
Shares in any manner. Such right of the Investor shall not affect any of the
Investor's

                                       2
<PAGE>

claims against the Company under this Agreement as a result of such failure on
the part of the Company.

            The Investor hereby acknowledges and agrees that the Investor Shares
have not been registered under the Securities Act and may not be offered or sold
in the United States except pursuant to an exemption from, or in a transaction
not subject to, the registration requirements of the Securities Act, and it
represents, warrants and agrees that it will comply with the securities laws of
the United States, Korea and other jurisdictions that prohibit, inter alia, any
investor who has received from the Company or any of the directors, officers,
employees, representatives, agents or advisers of the Company material,
non-public information relating to the Company or any of its subsidiaries from
Disposing of any Investor Shares.

            "DISPOSE," "DISPOSAL" or "DISPOSING" means (i) offering, pledging,
selling, contracting to sell, selling any option or contracting to purchase any
option, purchasing any option or contracting to sell any option, granting any
option, right or warrant to purchase, or otherwise transferring or disposing of
(including, without limitation, pursuant to the creation of a derivative
security such as a hedge), directly or indirectly, any Shares, global, American
or similar depositary shares representing the Company's capital stock or any
securities convertible into or exercisable or exchangeable for, or representing
interests in such securities, or other instruments, warrants or options or (ii)
entering into any swap or other arrangement that transfers all or a portion of
the economic consequences associated with the ownership of any Investor Shares
(regardless of whether any of the transactions described in clause (i) or (ii)
is to be settled by the delivery of Investor Shares or such other securities, in
cash or otherwise).

            SECTION 5. Put Option/Call Option; Right of First Refusal. The
Investor and the Company agrees that, subject to the approval of the Bank of
Korea, on or after the day following the third anniversary of the Closing Date
(the "POST-LOCKUP PERIOD"), (i) the Investor shall have the right to sell the
Investor Shares to the Company (or any party or parties designated by the
Company) (the "PUT OPTION") and (ii) the Company shall have the right to
purchase (or cause any party or parties designated by the Company to purchase)
the Investor Shares from the Investor (the "CALL OPTION"), subject to applicable
laws and regulations. The Company shall use its commercially reasonable efforts
to obtain the approval of the Bank of Korea in respect of the Put Option and the
Call Option as promptly as practicable. Neither the Put Option nor the Call
Option shall become effective unless and until the approval of the Bank of Korea
shall have been obtained and, if the Company fails to obtain such approval,
Section 5(a) and Section 5(b) will become null and void. The Company shall make
the application to the Bank of Korea for such approval within 90 days of the
date of this Agreement and shall use its best efforts to secure such approval.

            (a) (i) To exercise the Put Option, the Investor shall deliver a
written notice to the Company (the "PUT NOTICE"), which shall be irrevocable, at
any time during the Post-Lockup Period, stating that the Investor intends to
exercise the Put Option pursuant to this Section 5(a), to sell to the Company
(or such other party or parties designated by the Company) and to cause the
Company (or such other party or parties designated by the Company) to purchase
from the Investor, all of the Investor Shares held by the Investor for a per
Share purchase price equal to the higher of (x) Initial Price to Public per
Share and (y) the Average Market Price (as hereinafter defined).

            (ii) The Company shall deliver a written notice to the Investor (the
"PUT ACCEPTANCE NOTICE") within 21 calendar days from the date when it receives
the Put Notice,

                                       3
<PAGE>

stating that it (or such other party or parties designated by the Company) will
purchase all of the Investor Shares then held by the Investor and specifying the
date on which the closing of such purchase shall take place, which shall be no
later than 45 calendar days from the date of the Put Acceptance Notice.

            (b) (i) To exercise the Call Option, the Company shall deliver a
written notice to the Investor (the "CALL NOTICE"), which shall be irrevocable,
at any time during the Post-Lockup Period, stating that the Company intends to
exercise the Call Option pursuant to this Section 5(b) and specifying the date
for the closing of the purchase of the Investor Shares pursuant to the Call
Option (the "CALL CLOSING DATE"), which shall be no earlier than 15 calendar
days and no later than 45 calendar days from the date of the Call Notice.

            (ii) On the Call Closing Date, the Company shall purchase from the
Investor and the Investor shall sell to the Company, all of the Investor Shares
for a per Share purchase price equal to the higher of (x) the Initial Price to
Public per Share and (y) the Average Market Price.

            (c) (i) In the event that the Put Option and the Call Option fail to
become effective as a result of failure to obtain approval of the Bank of Korea,
if at any time during the Post-Lockup Period, subject to Section 5(d), the
Investor receives from any party a bona fide offer to purchase any of the
Investor Shares (the "DISPOSED SHARES") that the Investor is willing to accept,
the Investor shall provide written notice thereof (each, a "DISPOSITION NOTICE")
to the Company in advance to provide reasonable time for the Company to take
actions set out in this Section 5(c). Each Disposition Notice shall include the
identity of the prospective buyer, the price per Share offered, the terms of the
prospective buyer's financing and the other material terms of the offer.

            (ii) Upon receipt of a Disposition Notice, the Company shall have
the right to elect to acquire, or cause any party or parties designated by the
Company to acquire, all but not less than all of the Disposed Shares to which
such Disposition Notice relates by delivering to the Investor a written notice
(an "EXERCISE NOTICE") within 21 calendar days from the date the Company
received such Disposition Notice. In the event that the Company delivers an
Exercise Notice with respect to such Disposed Shares as provided herein, the
Company shall have the right to acquire, or cause any party or parties
designated by the Company to acquire, all but not less than all of such Disposed
Shares on terms no less favorable to the Investor than those set forth in the
applicable Disposition Notice, to the extent permitted under applicable laws and
regulations.

            (iii) In the event that the Company does not deliver an Exercise
Notice as provided in Section 5(c)(i), then the Investor, subject to Section
5(d), shall be entitled to:

                  (A) Dispose of all but not less than all of such Disposition
            Shares to the party and on the terms set forth in the Disposition
            Notice related to such Disposition Shares; provided, however, that
            if such Disposition is not consummated within 90 calendar days
            following the date of such Disposition Notice pursuant to such
            terms, such Disposed Shares shall be again subject to the Company's
            right of first refusal pursuant to this Section 5(c); or

                  (B) retain such Disposed Shares, in which case such Disposed
            Shares shall be again subject to the Company's right of first
            refusal pursuant to this Section 5(c).

                                       4
<PAGE>

            (iv) The closing of a purchase by the Company (or such party or
parties designated by the Company) of Disposed Shares in accordance with this
Section 5(c) shall be on the 45th calendar day following delivery of such
applicable Exercise Notice, unless otherwise agreed by the Company and the
Investor. At each such closing, the Investor shall deliver written instruments
in form satisfactory to the Company, duly executed by the Investor, that such
Disposed Shares have been delivered free and clear of any pledge, encumbrance,
security interest, purchase option, call, lien or similar right under any
applicable law arising by, through or under such Disposed Shares against payment
of the purchase price therefor, subject to the applicable laws and regulations.

            (d) In the event that the Put Option and the Call Option fail to
become effective as a result of failure to obtain approval of the Bank of Korea,
at any time during the Post-Lockup Period, the Investor agrees that:

                  (i) without the prior written consent of the Company, it will
      not Dispose of any Investor Shares to any Tire Company (as defined below)
      and will use its best endeavors to ensure that any purchaser of Investor
      Shares from it in such period does not Dispose of such Investor Shares to
      a Tire Company; and

                  (ii) it will not Dispose of any of the Investor Shares held by
      it other than (A) in one or more transactions in which no person or Group
      acquires more than 2% of the Voting Power of the outstanding Voting
      Securities of the Company, except with the prior written consent of the
      Company, or (B) in ordinary market transactions through a broker or
      directly with a market maker in the Investor Shares; provided that the
      amount of Investor Shares sold, together with all sales of any Investor
      Shares made within the preceding three-month period, shall not exceed the
      greater of (x) 1% of the Shares outstanding as shown by the most recent
      report or statement published by the Company, or (y) the average weekly
      reported volume of trading in the Shares on the Korea Stock Exchange
      during the four-week period preceding the date of receipt of the order to
      execute the transaction by the broker or the date of execution of the
      transaction directly with a market maker.

            "AVERAGE MARKET PRICE" means the volume-weighted average Market
Price of the Shares over the 20 Trading Day period ending on the Trading Day
preceding the date of the Put Notice (in the case of Section 5(a)) or the Call
Notice (in the case of Section 5(b)).

            "MARKET PRICE" of a Share for any Trading Day means the closing
sales price of a Share on the Korea Stock Exchange on such day as quoted on
Bloomberg or, if no reported sales take place on such day, the arithmetic
average of the reported closing bid and offered prices, in either case as
reported by the Korea Stock Exchange for such day or, if Shares are not on such
day listed or admitted to trading on the Korea Stock Exchange, the arithmetic
average of the closing bid and offered prices of Shares for such day as
furnished by a leading independent member firm of the Korea Stock Exchange
selected from time to time by the Company.

            "TRADING DAY" means when the Korea Stock Exchange (or, if
applicable, with respect to another stock exchange, a day when such stock
exchange) is open for business; provided, however, that if no transaction price
or closing bid and offered prices are reported on Korea Stock Exchange or such
other exchange in respect of the relevant securities for one or more Trading
Days, such day or days will be disregarded in the relevant calculation relating
to a period of consecutive Trading Days.

                                       5
<PAGE>

            "TIRE COMPANY" means a company which is itself, or is a holding
company or a subsidiary or an affiliate of a company which is, engaged in tire
manufacturing and/or sales of tires or tire-related products.

            SECTION 6. Standstill Agreement.

            (a) The Investor covenants and agrees with the Company that, without
the prior written approval of the Company, it will not:

                        (i) directly or indirectly, acquire, or offer, propose
            or agree to acquire, whether by purchase, tender or exchange offer,
            through the acquisition of control of another person, by joining a
            Group (as hereinafter defined), or otherwise, beneficial ownership
            of any Voting Securities (as hereinafter defined) of the Company if,
            upon completion of such acquisition, the number of Voting Securities
            beneficially owned by the Investor would exceed the maximum number
            of Voting Securities beneficially owned by the Investor immediately
            following the Closing;

                        (ii) propose or seek to effect, or request permission to
            propose or seek to effect, or initiate any other action with respect
            to, a Company Business Combination (as hereinafter defined)
            involving, or a tender or exchange offer for securities of, the
            Company or any of its subsidiaries or any material portion of their
            respective businesses or any other type of transaction that would
            result in a Company Control Transaction (as hereinafter defined);

                        (iii) become a member of or participate in a Group
            formed for the purpose of exercising joint influence with respect to
            the Voting Securities of the Company, other than a Group composed
            solely of itself;

                        (iv) solicit any proxies or stockholder consents, or
            become a participant (other than by voting), or encourage any person
            to become a participant, in a proxy or consent solicitation with
            respect to any of the Company's Voting Securities; or

                        (v) publicly suggest or announce its willingness or
            desire to engage in a transaction or series of transactions that
            could reasonably be expected to result in a Company Control
            Transaction.

            (b) The Company covenants and agrees with the Investor that, without
the prior written approval of the Investor, it will not:

                        (i) directly or indirectly, acquire, or offer, propose
            or agree to acquire, whether by purchase, tender or exchange offer,
            through the acquisition of control of another person, by joining a
            Group, or otherwise, beneficial ownership of any Voting Securities
            of the Investor if, upon completion of such acquisition, the number
            of Voting Securities beneficially owned by the Company would exceed
            the maximum number of Voting Securities beneficially owned by the
            Company immediately following the Closing;

                                       6
<PAGE>

                        (ii) propose or seek to effect, or request permission to
            propose or seek to effect, or initiate any other action with respect
            to, a Investor Business Combination (as hereinafter defined)
            involving, or a tender or exchange offer for securities of, the
            Investor or any of its subsidiaries or any material portion of their
            respective businesses or any other type of transaction that would
            result in a Investor Control Transaction (as hereinafter defined);

                        (iii) become a member of or participate in a Group
            formed for the purpose of exercising joint influence with respect to
            the Voting Securities of the Investor, other than a Group composed
            solely of itself;

                        (iv) solicit any proxies or stockholder consents, or
            become a participant (other than by voting), or encourage any person
            to become a participant, in a proxy or consent solicitation with
            respect to any of the Investor's Voting Securities; or

                        (v) publicly suggest or announce its willingness or
            desire to engage in a transaction or series of transactions that
            could reasonably be expected to result in an Investor Control
            Transaction.

            "GROUP" means any "group" within the meaning of Section 13(d) of the
U.S. Securities Exchange Act of 1934, as amended.

            "VOTING SECURITIES" means, (i) with respect to the Company, the
equity securities of the Company entitled to vote generally for the election of
directors of the Company, (ii) with respect to the Investor, the equity
securities of the Investor entitled to vote generally for the election of
directors of the Investor, an (iii) with respect to any other person, any
securities of or interests in such person entitled to vote generally for the
election of directors or any similar managing person of such person or entitled
to direct the management and policies of such person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise.

            "VOTING POWER" means, with respect to any Voting Securities, the
aggregate number of votes attributable to such Voting Securities that could
generally be cast by the holders of such Voting Securities for the election of
directors or any similar managing person at the time of determination (assuming
such election were then being held).

            "COMPANY BUSINESS COMBINATION" means (i) a merger, amalgamation,
share exchange or consolidation in which the Company is a constituent
corporation or (ii) a sale of all or substantially all of the assets of the
Company and its subsidiaries taken as a whole, provided that, in each case, a
"Company Business Combination" shall not include any transaction or series of
transactions following which the stockholders of the Company immediately prior
to such transaction or series of transactions continue to hold, by reason of
their prior holdings of Voting Securities, an aggregate number of Voting
Securities of the Company (or the surviving entity, as the case may be)
representing at least two-thirds of the Voting Power (as hereinafter defined) of
the Voting Securities of the Company (or the surviving entity).

            "COMPANY CONTROL TRANSACTION" means any transaction or series of
transactions that involves (i) a Company Business Combination or (ii) the sale
or issuance of Company Voting Securities to any person or Group formed for the
purpose of exercising joint influence with respect

                                       7
<PAGE>

thereto or (iii) the acquisition of equity securities of the Company by any
person or Group formed for the purpose of exercising joint influence with
respect thereto, other than, in each case a transaction or series of
transactions following which the stockholders of the Company immediately prior
to such transaction or series of transactions continue to hold, by reason of
their prior holdings of Voting Securities, an aggregate number of Voting
Securities of the Company (or the surviving entity, as the case may be)
representing at least two-thirds of the Voting Power of the Voting Securities of
the Company (or the surviving entity).

            "INVESTOR BUSINESS COMBINATION" means (i) a merger, amalgamation,
share exchange or consolidation in which the Investor is a constituent
corporation or (ii) a sale of all or substantially all of the assets of the
Investor and its subsidiaries taken as a whole, provided that, in each case, an
"Investor Business Combination" shall not include any transaction or series of
transactions following which the stockholders of the Investor immediately prior
to such transaction or series of transactions continue to hold, by reason of
their prior holdings of Voting Securities, an aggregate number of Voting
Securities of the Investor (or the surviving entity, as the case may be)
representing at least two-thirds of the Voting Power of the Voting Securities of
the Investor (or the surviving entity).

            "INVESTOR CONTROL TRANSACTION" means any transaction or series of
transactions that involves (i) an Investor Business Combination or (ii) the sale
or issuance of Investor Voting Securities to any person or Group formed for the
purpose of exercising joint influence with respect thereto or (iii) the
acquisition of equity securities of the Investor by any person or Group formed
for the purpose of exercising joint influence with respect thereto, other than,
in each case a transaction or series of transactions following which the
stockholders of the Investor immediately prior to such transaction or series of
transactions continue to hold, by reason of their prior holdings of Voting
Securities, an aggregate number of Voting Securities of the Investor (or the
surviving entity, as the case may be) representing at least two-thirds of the
Voting Power of the Voting Securities of the Investor (or the surviving entity).

            SECTION 7. "Kumho Tires" and "Kumho" Trademarks. The Company
represents and warrants that it owns "Kumho Tires" as its registered trade mark.
For so long as the Investor owns an amount of Shares in excess of 5% of the
issued and outstanding Shares of the Company, the Company shall use its best
endeavors to maintain the right to use the original trademarks of "Kumho" with
respect to the tire business, free of royalty or other charges, subject to
requirement of applicable law, and provided that Kumho Industrial Co., Ltd.
continues to possess the right directly or indirectly to elect or nominate for
election a majority of the board of directors of the Company.

            SECTION 8. Acknowledgments, Representations, Warranties and
Covenants.

            (a) The Investor acknowledges and confirms that:

                        (i) it is not entitled to nominate or appoint any person
            to be a director of the Company as a result or through its purchase
            of the Investor Shares;

                        (ii) the Initial Price to Public is to be determined by
            agreement between the Company and JPMorgan (on behalf of the
            underwriters) following, and on the basis of, the "roadshow" and
            "bookbuilding" process in connection with the Offering;

                                       8
<PAGE>

                        (iii) the Investor Shares will be acquired by the
            Investor through JPMorgan as underwriter of the International
            Offering on the basis provided in Sections 1, 2 and 3 above, and on
            the basis that the Investor has not relied, and will not be entitled
            to rely on any legal opinion or other advice given by legal counsel
            to the Company (except as provided in Section 9(c)) or legal counsel
            to JPMorgan and underwriters in connection with the Offering, and
            has taken its own independent advice to the extent it has considered
            necessary or appropriate;

                        (iv) the Company and JPMorgan will have the absolute
            discretion to change or adjust (a) the number of Shares and GDSs
            comprising the Offering or any part thereof and (b) the ratio of
            Shares and GDSs to be offered by the Company under the Offering or
            any part thereof;

                        (v) the Investor is an accredited investor within the
            meaning of Rule 501(a)(3) under the Securities Act;

                        (vi) subject to the provisions herein, the Investor
            Shares may be offered, resold, pledged or otherwise transferred only
            (A) to the Company, (B) to a person whom the seller reasonably
            believes is a qualified institutional buyer in a transaction meeting
            the requirements of Rule 144A, (C) outside the United States to a
            person other than a U.S. person (as such terms are defined in
            Regulation S under the Securities Act), (D) pursuant to an exemption
            from registration under the Securities Act provided by Rule 144
            under the Securities Act (if available), or (E) pursuant to an
            effective registration statement under the Securities Act;

                        (vii) While any Investor Shares remain outstanding are
            "restricted securities" within the meaning of Rule 144(a)(3) under
            the Securities Act, the Company, during any period which (x) the
            Company is not subject to and in compliance with Section 13 or 15(d)
            of the U.S. Securities Exchange Act of 1934, as amended (the
            "EXCHANGE ACT"), or (y) the Company is not exempt from the reporting
            obligations of the Exchange Act pursuant to Rule 12g3-2(b), the
            Company will furnish prospective purchasers of Investor Shares
            designated by the Investor pursuant to Section 4, upon the request
            of the Investor or such prospective purchasers, the information
            required to be delivered pursuant to Rule 144A(d)(4) under the
            Securities Act;

                        (viii) the Investor is purchasing the Investor Shares
            for investment purposes and not with a view to the distribution of
            such Shares; and

                        (ix) the Company and, for purposes of the opinions to be
            delivered pursuant to the Purchase Agreement in connection with the
            Offering, the counsels for the Company and the counsels for the
            underwriters of the International Offering, respectively, may rely
            upon the accuracy of the representations and warranties of the
            Investor, and the Investor hereby consents to such reliance.

            (b) Each of the Investor and the Company represents and warrants as
      of the date hereof and as of the Closing Date that:

                                       9
<PAGE>

                        (i) it is a corporation duly organized and validly
            existing under the laws of its jurisdiction of incorporation;

                        (ii) the execution, delivery and performance of this
            Agreement by it has been duly authorized by all necessary corporate
            action on its part;

                        (iii) the execution, delivery and performance of this
            Agreement by it, the compliance by it with all the provisions hereof
            and the consummation of the transactions contemplated hereby will
            not (i) violate any provisions of the articles of incorporation or
            other constitutional documents, (ii) require any consent, approval,
            authorization or other order of, or qualification with, any court or
            governmental body or agency (except such as have been obtained or
            made and are in full force and effect as of the Closing Date), (iii)
            conflict with or constitute a breach of any of the terms or
            provisions of, or a default under, any indenture, loan agreement,
            mortgage, lease or other agreement or instrument to which it or any
            of its subsidiaries is a party or by which it or any of its
            subsidiaries or their respective property is bound, or (iv) violate
            or conflict with any applicable law or any rule, regulation,
            judgment, order or decree of any court or any governmental body or
            agency having jurisdiction over it, any of its subsidiaries or their
            respective property, except for such failures, violations,
            conflicts, breaches or defaults under clauses (ii), (iii) and (iv)
            that, individually or in the aggregate, neither have had nor are
            reasonably likely to have a material adverse effect on the ability
            of the party to perform its respective obligations under this
            Agreement;

                        (iv) this Agreement has been duly authorized, executed
            and delivered by it and constitutes its legal, valid and binding
            obligations and that no corporate, shareholder or other consents,
            approvals or authorizations are required by such party for the
            performance of its obligations under this Agreement (except such as
            have been obtained or made and are in full force and effect as of
            the Closing Date).

            (c) The Company represents and warrants as of the date hereof that:

                        (i) the authorized capital stock of the Company consists
            of 200,000,000 Shares; as of the date hereof, 50,000,000 Shares are
            validly issued and outstanding; and Kumho Industrial Co., Ltd. owns
            of record 15,000,000 Shares as of December 31, 2004;

                        (ii) the Company has furnished to the Investor (x) the
            audited combined balance sheets of the Company and its subsidiaries
            (on a carve-out basis) as of December 31, 2001, December 31, 2002,
            and June 30, 2003 and the audited consolidated balance sheet of the
            Company and its subsidiaries as of December 31,2003, and related
            combined statements of income and combined statements of cash flows
            for each of the twelve-month periods ended December 31, 2001 and
            2002, and related combined statement of income and combined
            statement of cash flows for the six-month period ending June 30,
            2003, and related consolidated statement of income and consolidated
            statement of cash flows for the six-month period ended December 31,
            2003, including, in each case, the notes thereto, and (y) the
            audited non-consolidated balance sheet of the Company as of
            September 30,

                                       10
<PAGE>

            2004, and the related non-consolidated statement of income and
            non-consolidated statement of cash flows for the nine-month period
            then ended, including the notes thereto (collectively, the
            "FINANCIAL STATEMENTS"). The Financial Statements fairly present in
            all material respects the financial position of the Company as of
            such dates, the operation of the Company's business and its net
            income and cash flows for the periods then ended, and were prepared
            in accordance with generally accepted accounting principles in
            Korea;

                        (iii) no action, suit or proceeding by or before any
            court or governmental agency, authority or body or any arbitrator
            involving the Company, any subsidiary or their respective properties
            or assets is pending or, to the reasonable knowledge of the Company,
            threatened, in each case, that (i) could have a material adverse
            effect on the performance by the Company of its obligations pursuant
            to this Agreement or the consummation of any of the transactions
            contemplated hereby or (ii) could result in a material adverse
            effect on the business, operations or financial condition of the
            Company and its subsidiaries, taken as a whole; and

                        (iv) the preliminary offering circular and the final
            offering circular, each relating to the International Offering, will
            not, as of their respective dates, contain any untrue statement of a
            material fact or omit a material fact necessary to make the
            statements contained therein in light of the circumstances under
            which they were made.

            SECTION 9. Conditions Precedent. The rights and obligations of each
party hereto shall be subject to the conditions precedent that:

            (a) the Offering shall occur simultaneously with the Transaction;

            (b) each of the Company and the Investor shall have given all
notifications to, and received all consents and/or approvals of, third parties,
including governmental authorities, that are or may be required for the purposes
of or in connection with this Agreement, including, without limitation,
expiration or termination of the waiting period (and any extension thereof)
applicable to the transactions contemplated hereby under the Hart-Scott-Rodino
Antitrust Improvements Act of 1974, as amended;

            (c) the Investor shall have received from Shin & Kim, counsel for
the Company, an opinion dated as of the Closing Date, in form and substance
satisfactory to the Investor; and

            (d) the representations of the Investor (with respect to the
Company) and of the Company (with respect to the Investor) set forth in Section
8 herein shall be true and correct as in all respects as of the dates specified
herein.

            SECTION 10. Announcements. The parties hereto shall consult with
each other prior to issuing any public announcement or statement with respect to
this Agreement or the transaction contemplated hereby. The Investor will not
make any announcement or other public statement with respect to this Agreement
or the arrangements contemplated by it, except (i) for any announcement by the
Investor which may be required in order to comply with the rules of any
government authority or agency or stock exchange applicable to the Investor (but
only after prior

                                       11
<PAGE>

consultation with the Company with respect to the form, timing and content of
any such announcement) or (ii) as may be agreed by the Company. In addition, the
Investor acknowledges and agrees (i) that this Agreement and the relationship
and arrangements between the parties contemplated by this Agreement will be
required to be described in the Offering Circular and any other marketing
materials for the Offering and specifically, this Agreement will be a material
contract required to be filed with regulatory authorities and/or made available
for public inspection in connection with the Offering and (ii) to permit the
Company to identify the Investor as a purchaser of Shares in the Offering
Circular and in any required filings with the relevant regulatory authorities
and/or stock exchanges or otherwise required in order to comply with the rules
of any government authority or agency or stock exchange applicable to the
Company.

            SECTION 11. Further Efforts. (a) Each of the Investor and the
Company shall use its best endeavors to enter into further agreements in respect
of their business cooperation and/or strategic alliance.

            (b) Each of the Investor and the Company shall use its best
endeavors to hold periodic meetings of a strategic management committee,
consisting of the Chairman of the Company's board of directors, the Company's
President and the Investor's President/Chief Executive Officer.

            (c) The Investor and the Company shall cooperate with respect to any
notifications to, or consents and/or approvals of, third parties that are or may
be required for the purposes of or in connection with this Agreement.

            (d) From and after the date of this Agreement, upon the request of
the Investor or the Company, the Company and the Investor shall execute and
deliver such instruments, documents and other writings as may be reasonably
necessary or desirable to confirm and carry out and to effectuate fully the
intent and purposes of this Agreement.

            SECTION 12. Miscellaneous.

            (a) Termination.

                        (i) The Company or the Investor may terminate this
            Agreement at any time upon mutual agreement, or by giving written
            notice to the other party if the other party (either the Company or
            the Investor, as applicable) has committed a material breach of any
            agreement, representation, condition, covenant or other term of this
            Agreement and fails to cure such breach within thirty (30) days from
            receipt by the defaulting party of a written notice to cure from the
            non-defaulting party.

                        (ii) In the event that this Agreement is terminated
            without any default of either party (including as a result of the
            fact that the Offering shall not have been completed by June 30,
            2005), the Investor shall no longer have any obligation to acquire
            the Investor Shares from the Company and the Company shall no longer
            have any obligation to sell the Investor Shares to the Investor;
            provided, however, the Company and the Investor may proceed (but are
            not obligated) to discuss, with participation of other concerned
            parties if necessary, the possible acquisition by the Investor of
            other equity stakes in the Company, including acquisition of an
            ownership equity stake.

                                       12
<PAGE>

                        (iii) Any termination of this Agreement shall not affect
            any accrued rights or liabilities of either party nor shall it
            affect the coming into force or the continuation in force of any
            provisions of this Agreement which are expressly or by implication
            intended to come into force or continue in force on or after that
            termination.

            (b) Expenses. Each party hereto will pay its own expenses in
connection with the transactions contemplated hereby, whether or not such
transactions shall be consummated.

            (c) Amendments and Waivers. This Agreement may be amended only by a
written instrument signed by each party hereto.

            (d) No Assignment. This Agreement, or any party hereof, may not be
assigned by any party hereto without the prior written consent of the other
party hereto. Any purported assignment in violation of this paragraph (d) shall
be null and void.

            (e) Notices. All notices required or permitted hereunder shall be in
writing and shall be deemed effectively given: (i) upon personal delivery to the
party to be notified; (ii) when sent by facsimile if sent during normal business
hours of the recipient, if not, then on the next business day; (iii) upon
delivery if sent by registered or certified mail, return receipt requested,
postage prepaid; or (iv) upon delivery if deposited with a nationally recognized
overnight courier, specifying next day delivery, with written verification of
receipt. All communications shall be sent to the parties at the following
addresses (or at such other address for a party as shall be specified by like
notice):

        If to the Company:

            Kumho Tire Co., Inc.
            Kumho Asiana Building
            57 Shinmunro 1-ga, Jongro-gu
            Seoul 110-713, Korea
            Attention: Young Kyo Park
            Facsimile: (822) 6303 8299

            and

            Kumho Asiana Group
            Kumho Asiana Building
            57 Shinmunro 1-ga, Jongro-gu
            Seoul 110-713, Korea
            Attention: Park, Sam Koo, Chairman, Ahn Seok Kim and Young Ju Lee
            Facsimile: (822) 6303 1679

        with a copy to:

            J.P. Morgan Securities (Asia Pacific) Ltd.
            28F, Chater House
            8 Connaught Road
            Central, Hong Kong SAR

                                       13
<PAGE>

            Attention: Julian Ball and James Mak
            Facsimile: (852) 2836 9622

            and

            Simpson Thacher & Bartlett LLP
            425 Lexington Avenue
            New York, NY 10017
            Attention: Paul B. Ford, Esq. and Youngjin Sohn, Esq.
            Facsimile: (212) 455-2502

        If to the Investor:

            Cooper Tire & Rubber Company
            701 Lima Avenue
            Findlay, Ohio
            Attention: Thomas A. Dattilo, Chairman of the Board,
                          President and Chief Executive Officer
            Facsimile: (419) 420-6050

        with a copy to:

            Cooper Tire & Rubber Company
            701 Lima Avenue
            Findlay, Ohio
            Attention: James E. Kline, Vice President, General Counsel and
                          Secretary
            Facsimile: (419) 420-6052,

            or to such other address or addresses as shall be designated in
writing. All notices shall be effective when received.

            (f) Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be an original, but all of which together
shall constitute one instrument.

            (g) Titles and Subtitles. The titles of the sections and subsections
of this Agreement are for convenience of reference only and are not to be
considered in construing this Agreement.

            (h) Governing Law. This Agreement shall be governed by, and
construed in accordance with, the law of the Republic of Korea.

            (i) Separability. In case any provision of this Agreement shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions shall not in any way be affected or impaired thereby.

            (j) Entire Agreement. This Agreement and the other documents
delivered pursuant hereto constitute the full and entire understanding and
agreement between the parties with regard to the subjects thereto and no party
shall be liable or bound to any other in any manner

                                       14
<PAGE>

by any representations, warranties, covenants and agreements except as
specifically set forth herein and therein.

            (k) No Waiver; Cumulative Remedies. No failure or delay on the part
of any party to this Agreement in exercising any right, power or remedy
hereunder shall operate as a waiver thereof; nor shall any single or partial
exercise of any such right, power or remedy preclude any other or further
exercise thereof or the exercise of any other right, power or remedy hereunder.
The remedies herein provided are cumulative and not exclusive of any remedies
provided by law.

            (l) Submission to Jurisdiction. Each party hereto irrevocably
consents, to the fullest extent permitted by applicable law, to the
non-exclusive jurisdiction of Seoul Central District Court and in the courts
hearing appeals therefrom, for the resolution of any dispute, action, suit or
proceeding arising out of or relating to this Agreement.

                            [Signature page follows.]

                                       15
<PAGE>

            IN WITNESS WHEREOF, the parties have executed this Agreement as of
the date first written above.

                                          KUMHO TIRE CO., INC.

                                          By:  /s/ Lee Young Ju
                                               --------------------------------
                                               Name: Lee Young Ju
                                               Title: Attorney-in-fact

                                          COOPER TIRE & RUBBER COMPANY

                                          By:  /s/ Thomas A. Dattilo
                                               --------------------------------
                                               Name: Thomas A. Dattilo
                                               Title: Chairman, President and
                                                      Chief Executive Officer

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