Document:

Exhibit 10.26

 

EXHIBIT 1 TO SEVERANCE AGREEMENT
AND RELEASE

 

CONSULTING AGREEMENT

 

THIS CONSULTING AGREEMENT (the “Agreement”)
is made as of May 17, 2021 by and between Humacyte, Inc., a Delaware corporation (the “Company”), and Douglas Blankenship
(“Consultant” or “Blankenship”).

 

WHEREAS,

 

A. The
Company is in the business of researching and developing biologics and pharmaceuticals;

 

B. Consultant was formerly employed by Company as its Chief Financial Officer;

and,

 

C. Consultant
has specialized knowledge that he is willing to furnish to the Company from time to time.

 

NOW, THEREFORE, in consideration of the
mutual promises and other good and valuable consideration, and intending to be legally bound, the parties hereby agree as follows:

 

ARTICLE I

SERVICES

 

Section 1.01 Engagement. On
the terms and subject to the conditions set forth in this Agreement, the Company’ hereby engages Consultant to perform, and Consultant
hereby agrees to perform, the services set forth in Exhibit A hereto (the “Services”). The Services will be performed
upon written request by the Company at the times and places directed by the Company.

 

Section 1.02 Status of Consultant.

 

(a) Consultant
shall perform the Services as an independent contractor. Nothing in this Agreement shall in any way be construed to constitute Consultant
as an agent, employee, co- venturer, partner or other representative of the Company.

 

(b) Consultant
shall not perform the Services on Company premises, except as necessary for particular face-to-face meetings with Company employees at
the Company’s request. Consultant shall control the manner and means by which the Services are performed, shall have discretion
over when and how long to perform the Services to meet the deadlines specified by Company, and shall provide the instrumentalities, equipment
and tools necessary to perform the Services.

 

(c) Consultant
acknowledges and agrees that Consultant is obligated to report as income all compensation received by Consultant pursuant to this Agreement,
and Consultant agrees to and acknowledges the obligation to pay all income, employment and other taxes thereon. The Company shall not
be required to withhold from the consulting fee any state or federal income taxes or to make payments for Social Security (“FICA”)
tax, unemployment insurance, or any other payroll taxes. Consultant shall indemnify and hold the Company (which term shall include its
affiliates and its and their officers, directors, employees, agents and business advisors) free and harmless, to the full extent permitted
by law or in equity, for and from any and all income, employment and other taxes arising from this Agreement.

 

     

     

    

 

(d) Consultant
is not entitled to any rights under, and shall not participate in, any of the Company’s employee benefits plans. The Company shall
not be responsible for, and shall not obtain, worker’s compensation, disability benefits insurance, or unemployment security insurance
coverage for Consultant.

 

ARTICLE II

COMPENSATION AND INDEMNIFICATION

 

Section 2.01 Compensation.
The Company agrees to pay Consultant the compensation set forth in Exhibit A (“Compensation”) for the satisfactory
performance of the Services.

 

Section 2.02 Billing. Consultant
will invoice the Company monthly for pre-approved Services provided and for pre-approved reimbursable expenses incurred. The invoice shall
include detailed narrative concerning all the Services rendered and expenses incurred. Invoices will be dated as of the end of the month.
Invoices will be sent to the attention of Accounts Payable, Humacyte, Inc.

 

Section 2.03 Payment. The Company
will pay Consultant no later than thirty (30) days after the receipt of Consultant’s invoice. Payments will be sent to Consultant
at the address provided in Section 5.02 (Notices and Other Communications) of this Agreement.

 

Section 2.04 Disputes. In the
event of a dispute hereunder, the Company will have the right to withhold payment related to the disputed amounts due to Consultant until
the matter is resolved.

 

Section 2.05 Indemnification.

 

(a) Consultant
shall indemnify and hold the Company (which term shall include its affiliates and its and their officers, directors, employees, agents
and business advisors) free and harmless, to the full extent permitted by law or in equity, for and from any and all losses, obligations,
liabilities, damages, costs, expenses, claims, actions, judgments, reasonable attorneys’ fees and attachments, joint or several,
arising from third party claims made in connection with this Agreement, to the extent arising from (x) any breach by Consultant of any
representations, warranties or covenants under this Agreement (including any related matter or transaction occurring prior to the date
of this Agreement), or (y) Consultant’s willful misconduct, negligence or violation of law in connection with this Agreement (including
any related matter or transaction occurring prior to the date of this Agreement), and any litigation, investigation or other proceeding
relating to any of the foregoing.

 

    2

     

    

 

ARTICLE III

REPRESENTATIONS AND WARRANTIES

 

Section 3.01 The Company’s Representations
and Warranties. Company represents and warrants to Consultant that:

 

(a) The
Company has all necessary corporate authority to enter into and perform all of its obligations under this Agreement and has taken all
necessary corporate action to authorize the execution, delivery and performance of this Agreement, and that the execution, delivery and
performance of this Agreement does not violate any other agreement or understanding to which Company is a party or by which it may be
bound or to which any of its assets or properties may be subject; and,

 

(b) Company
is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware.

 

Section 3.02 Consultant’s Representations
and Warranties. Consultant represents and warrants to the Company that:

 

(a) Consultant
has all necessary authority, corporate or otherwise, to enter into and perform all of its obligations under this Agreement and has taken
all necessary action, corporate or otherwise, to authorize the execution, delivery and performance of this Agreement, and that the execution,
delivery and performance of this Agreement does not violate any other agreement or understanding to which Consultant is a party or by
which it may be bound or to which any of its assets or properties may be subject; and,

 

(b) Consultant
shall render and complete the Services in accordance with the highest professional standards, applicable guidelines and all relevant federal,
state and local laws, regulations and policies.

 

ARTICLE IV

CONFIDENTIAL INFORMATION AND INTELLECTUAL PROPERTY

 

4.01 Confidential Information.

 

(a) Definition.
“Confidential Information” means any and all confidential and/or proprietary knowledge, data or information of the Company.
By way of illustration but not limitation, “Confidential Information” includes (a) trade secrets, inventions, mask works,
ideas, processes, formulas, source and object codes, data, programs, other works of authorship, know- how, improvements, discoveries,
developments, designs, techniques; (b) information regarding plans for research, development, new products, marketing, business plans,
budgets, financial statement information, licenses, prices, costs, suppliers, or actual or potential customers or investors; and (c) information
regarding the skills and compensation of employees of, or other consultants to, the Company. Confidential Information does not include
information which is known to Consultant at the time of disclosure to Consultant by the Company as evidenced by written records of Consultant,
has become publicly known and made generally available through no wrongful act of Consultant, or has been rightfully received by Consultant
from a third party who is authorized to make such disclosure.

 

    3

     

    

 

(b) Non-Use
and Non-Disclosure. Consultant will not, during or subsequent to the term of this Agreement, disclose, use, lecture upon or publish
any the Company’s Confidential Information for any purpose whatsoever other than the performance of the Services on behalf of the
Company. Consultant further agrees to take all reasonable precautions to prevent any unauthorized disclosure of such Confidential Information
including, but not limited to, having each employee of Consultant, if any, with access to any Confidential Information, execute a nondisclosure
agreement containing provisions in the Company’s favor identical to this Section 4.01. It is understood that Confidential Information
shall remain the sole property of the Company. Consultant hereby assigns to the Company any rights it/he may have or acquire in such Confidential
Information and acknowledges and agrees that all Confidential Information shall be the sole property of the Company and its assigns. Under
the Defend Trade Secrets Act, 18 U.S.C. § 1833(b), Consultant may be entitled to immunity for certain disclosures to his attorney
or government officials.

 

(c) Third
Party Confidential Information. Consultant recognizes that the Company has received and in the future will receive from third parties
their confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such information
and to use it only for certain limited purposes. Consultant agrees that Consultant owes the Company and such third parties, during the
term of this Agreement and thereafter, a duty to hold all such confidential or proprietary information in the strictest confidence and
not to disclose it to any person, firm or corporation or to use it except as necessary in carrying out the Services for the Company consistent
with the Company’s agreement with such third party.

 

(d) Return
of Materials. Upon the termination of this Agreement, Consultant will deliver to the Company all of the Company’s property or
Confidential Information that Consultant may have in Consultant’s possession or control.

 

4.02 Intellectual Property.

 

(a) Assignment.
Consultant agrees that all materials, notes, records, drawings, designs, inventions, improvements, developments, discoveries and trade
secrets (collectively, “Inventions”) conceived, made or discovered by Consultant, solely or in collaboration with others,
during the period of this Agreement which relate in any manner to the business of the Company that Consultant may be directed to undertake,
investigate or experiment with, or which Consultant may become associated with in work, investigation or experimentation in the line of
business of Company in performing the Services hereunder, are the sole property of the Company. Consultant further agrees to assign (or
cause to be assigned) and does hereby assign fully to the Company all Inventions and any copyrights, patents, mask work rights, trade
secret rights or other intellectual property rights relating thereto.

 

    4

     

    

 

(b) Further
Assurances. Consultant agrees to assist Company, or its designee, at the Company’s expense, in every proper way to secure the
Company’s rights in the Inventions and any copyrights, patents, mask work rights or other intellectual property rights relating
thereto in any and all countries, including the disclosure to the Company of all pertinent information and data with respect thereto,
the execution of all applications, specifications, oaths, assignments and all other instruments which the Company shall deem necessary
in order to apply for and obtain such rights and in order to assign and convey to the Company, its successors, assigns and nominees the
sole and exclusive right, title and interest in and to such Inventions, and any copyrights, patents, mask work rights or other intellectual
property rights relating thereto. Consultant further agrees that Consultant’s obligation to execute or cause to be executed, when
it is in Consultant’s power to do so, any such instrument or papers shall continue after the termination of this Agreement.

 

(c) Pre-Existing
Materials. Consultant agrees that if in the course of performing the Services, Consultant incorporates into any Invention developed
hereunder any invention, improvement, development, concept, discovery or other proprietary information owned by Consultant or in which
Consultant has an interest, (i) Consultant shall inform Company, in writing before incorporating such invention, improvement, development,
concept, discovery or other proprietary information into any Invention; and (ii) the Company is hereby granted and shall have a nonexclusive,
royalty-free, perpetual, irrevocable, worldwide license to make, have made, modify, use and sell such item as part of or in connection
with such Invention. Consultant shall not incorporate any invention, improvement, development, concept, discovery or other proprietary
information owned by any third party into any Invention without Company’s prior written permission.

 

(d) Enforcement
of Intellectual Property Rights. Consultant agrees to assist the Company in every proper way to obtain, and from time to time enforce,
United States and foreign intellectual property rights relating to Company Inventions in any and all countries. To that end Consultant
agrees to execute, verify and deliver such documents and perform such other acts (including appearances as a witness) as the Company may
reasonably request for use in applying for, obtaining, perfecting, evidencing, sustaining and enforcing such intellectual property rights
and the assignment thereof. In addition, Consultant agrees to execute, verify and deliver assignments of such intellectual property rights
to the Company or its designee. Consultant’s obligation to assist the Company with respect to intellectual property rights relating
to such Company Inventions in any and all countries shall continue beyond the termination of this Agreement, but the Company shall compensate
Consultant at a reasonable rate after termination for the time actually spent by Consultant at the Company’s request on such assistance.
Consultant agrees that if the Company is unable because of Consultant’s unavailability, dissolution, mental or physical incapacity,
or for any other reason, to secure Consultant’s signature to apply for or to pursue any application for any United States or foreign
patents or mask work or copyright registrations covering the Inventions assigned to the Company above, then Consultant hereby irrevocably
designates and appoints the Company and its duly authorized officers and agents as Consultant’s agent and attorney in fact, to act
for and in Consultant’s behalf and stead to execute and file any such applications and to do all other lawfully permitted acts to
further the prosecution and issuance of patents, copyright and mask work registrations thereon with the same legal force and effect as
if executed by Consultant.

 

    5

     

    

 

ARTICLE V

MISCELLANEOUS 

 

Section 5.01 Term and Termination.
The term of this Agreement shall begin on June 13, 2021 and shall remain in force until December 31, 2021, or earlier if terminated as
provided in this Section 5.01. Either party may terminate this Agreement five days after notice from the non-breaching party to the breaching
party of the breaching party’s material breach or material violation of any term or obligation of such party under this Agreement.
Company may terminate this Agreement, with cause, upon written notice to Consultant. In the case of termination of this Agreement, Consultant
shall be responsible for the performance of the Services in accordance with the Agreement up to and including the effective date of termination
and the Company agrees to pay Consultant for those pre-approved Services satisfactorily rendered and pre- approved reimbursable expenses
incurred by Consultant up to and including the effective date of termination.

 

Section 5.02 Severability.
If any provision or portion of this Agreement is judicially or administratively interpreted or construed as being in violation of controlling
law in any jurisdiction, such provision or portion shall be inoperative in such jurisdiction and the remainder of this Agreement shall
remain binding upon the parties hereto in such jurisdiction with the Agreement as a whole unaffected elsewhere.

 

Section 5.03 Notices and Other
Communications. Every notice required under or contemplated by this Agreement shall be given in writing and shall be deemed effectively
given upon (i) personal delivery to the party to be notified, (ii) electronic delivery via email with appropriate confirmation of receipt
by the other party at the number provided below, (iii) one (1) day after deposit with any nationally recognized overnight carrier or (iv)
three (3) days after deposit with the U.S. Post Office by registered or certified mail, postage prepaid and addressed to the party to
be notified as follows:

 

	 	To Consultant:	Douglas Blankenship
	 	 	[***]
	 	 	[***]
	 	 	 
	 	To the Company:	Humacyte, Inc.
	 	 	Attention: Laura Niklason, M.D., Ph.D., Chief Executive Officer

 2525 E. NC Highway 54
	 	 	Durham, NC 27713

 

or at such other address as the intended recipient previously
shall have designated by written notice to the other party in like manner. It is the responsibility of the party giving notice to obtain
a receipt for delivery of the notice, if that party considers such a receipt advisable.

 

Section 5.04 Counterparts.
This Agreement may be executed in any number of counterparts and each counterpart shall constitute an original instrument, but all such
separate counterparts shall constitute one and the same instrument.

 

    6

     

    

 

Section 5.05 Governing Law, Jurisdiction.
This Agreement shall be governed by, and construed in accordance with, the laws of the State of North Carolina applicable to contracts
made and to be performed within the state. Any disputes arising out of or relating to this Agreement that cannot be resolved by the parties
shall be conducted in the courts of Wake County, North Carolina, or the federal courts of the United States for the Eastern District of
North Carolina, and Consultant consents to the personal jurisdiction of those courts for any such dispute.

 

Section 5.06 Written Agreement
to Govern. This Agreement constitutes the sole and entire agreement between the Company and Consultant and supersedes any and all
prior discussions and agreements, whether oral or written, regarding the subject matter of this Agreement. Provided, however, this Agreement
does not supersede or affect the Executive Employment Agreement between Company and Blankenship or the Proprietary Information, Inventions
and Noncompetition Agreement signed by Blankenship.

 

Section 5.07 Assignability.
Consultant may not assign this Agreement nor any right or obligation hereunder in whole or in part, whether by operation of law or otherwise,
without the express written consent of the Company, and any such attempted assignment shall be void and unenforceable. Company may assign
this Agreement to any successor.

 

Section 5.08 No Waiver of Rights.
All waivers hereunder must be made in writing, and failure of any party at any time to require another party’s performance of any
obligation under this Agreement shall not affect the right subsequently to require performance of that obligation. Any waiver of any breach
of any provision of this Agreement shall not be construed as a waiver of any continuing or succeeding breach of such provision or a waiver
or modification of the provision.

 

Section 5.9 Subject Headings.
The subject headings of the Articles and Sections of this Agreement are included for purposes of convenience only, and shall not affect
the construction or interpretation of any of the provisions of this Agreement.

 

Section 5.10 Survival. Notwithstanding
any provision in this Agreement to the contrary, the provisions of Sections 2.06 (Indemnification), Article 4 (Confidential Information
and Intellectual Property), Section 5.02 (Severability), and Section 5.05 (Governing Law, Jurisdiction) hereof shall survive any termination
of this Agreement and Consultant’s engagement hereunder.

 

    7

     

    

 

IN WITNESS WHEREOF, the parties have
set their hand effective as of the first date above written.

 

	 	DOUGLAS BLANKENSHIP
	 	 
	 	By:	 /s/ Douglas Blankenship
	 	 
	 	HUMACYTE, INC.
	 	
	 	By: 	/s/ Sabrina Osborne
	 	Name: Sabrina Osborne
	 	Title EVP, Business Strategy & People

 

    8

     

    

 

EXHIBIT A

 

SERVICES

 

Consultant shall, at the Company’s
request, provide information and advice to the Company regarding the Company’s finances and operations and assist the Company in
the transition of information and responsibilities to the Company’s new CFO.

 

COMPENSATION

 

Company shall pay Consultant the amount
of one hundred and eighty dollars ($180.00) per hour, for consultation and project related work as requested by Company and agreed to
by Blankenship, plus pre-approved expenses as set forth in this Agreement.Exhibit 10.1

 

EXECUTION VERSION

 

 

 

AGREEMENT dated as of June 11, 2021 (this
“Agreement”), amending the SECOND AMENDMENT dated as of April 28, 2020 (the “Existing Second Amendment”,
and as amended or otherwise modified by this Agreement, the “Second Amendment”) to the CREDIT AGREEMENT dated as of
April 6, 2017 (as amended, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”; capitalized
terms used and not defined herein shall have the meanings assigned to such terms in the Credit Agreement or the Existing Second Amendment,
as applicable), among AMERICAN AXLE & MANUFACTURING, INC., a Delaware corporation (the “Borrower”), AMERICAN AXLE
& MANUFACTURING HOLDINGS, INC., a Delaware corporation (the “Parent”), the LENDERS party thereto and JPMORGAN CHASE
BANK, N.A., as Administrative Agent (the “Administrative Agent”).

WHEREAS, the Borrower has requested that Section
3(i) of the Existing Second Amendment be amended as set forth herein; and

WHEREAS, the Lenders party hereto, constituting
the requisite Lenders necessary to approve this Agreement, are willing to consent to such amendment to the Existing Second Amendment on
the terms and subject to the conditions set forth herein.

NOW, THEREFORE, in consideration of the mutual
agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, and
subject to the conditions set forth herein, the parties hereto hereby agree as follows:

SECTION 1. Rules of Interpretation.
The rules of interpretation set forth in Section 1.03 of the Credit Agreement are hereby incorporated by reference herein, mutatis
mutandis.

SECTION 2. Amendment to the Existing
Second Amendment. Section 3(i) of the Existing Second Amendment is hereby amended and restated in its entirety to read as follows:

“neither the Parent nor the Borrower
shall, or shall permit any Restricted Subsidiary to, make or agree to pay or make, directly or indirectly, any voluntary payment or other
distribution (whether in cash, securities or other property) of or in respect of any of the Borrower’s senior unsecured notes other
than the Existing Senior Notes described in clause (c) of the definition thereof set forth in the Existing Credit Agreement (the “Senior
Unsecured Notes”), or any payment or other distribution (whether in cash, securities or other property), including any sinking
fund or similar deposit, on account of the repayment, repurchase, redemption, retirement, acquisition, cancellation or termination of
any of the Senior Unsecured Notes, except (i) any refinancing of Senior Unsecured Notes with Permitted Refinancing Indebtedness, (ii)
regularly scheduled payments of principal or interest in respect thereof and (iii) payments or redemptions of the New Senior Notes described
in clause (a) of the definition thereof set forth in the Existing Credit Agreement (including for the avoidance of doubt payments of any
premium, interest or other costs payable in connection with payments or redemptions of such New Senior Notes).”

    	 	 	 

    	 	 	2

    

SECTION 3. Representations and Warranties.
The Borrower represents and warrants to the Administrative Agent and to each of the Lenders that:

(a) This Agreement and the transactions contemplated
hereby are within the corporate powers of each of the Borrower and the Parent and have been duly authorized by all necessary corporate
and, if required, stockholder action.

(b) This Agreement has been duly executed
and delivered by each of the Borrower and the Parent and constitutes a legal, valid and binding obligation of such Loan Party, enforceable
in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’
rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law.

SECTION 4. Effectiveness. This Agreement
shall become effective as of the date first above written (the “Agreement Effective Date”) when:

(a) the Administrative Agent shall have received
counterparts of this Agreement, duly executed and delivered on behalf of (i) the Borrower, (ii) the Parent and (iii) the requisite Lenders
necessary to approve this Agreement, or as to any of the foregoing parties, advice reasonably satisfactory to the Administrative Agent
that each of the foregoing parties has executed a counterpart of this Agreement;

(b) each of the representations and warranties
set forth in Section 3 hereof shall be true and correct as of the Agreement Effective Date;

(c) The representations and warranties of
each Loan Party set forth in the Loan Documents shall be true and correct in all material respects (or, in the case of representations
and warranties qualified as to materiality, in all respects) on and as of the Agreement Effective Date, except to the extent any such
representation and warranty expressly relates to a prior date, in which case such representation and warranty shall be true and correct
in all material respects (or in all respects, as applicable) as of such earlier date;

    	 	 	 

    	 	 	3

    

(d) At the time of and immediately after
giving effect to this Agreement, no Default or Event of Default shall have occurred and be continuing;

(e) the Administrative Agent shall have received
a certificate of a Responsible Officer of the Borrower confirming compliance with the conditions set forth in paragraphs (b), (c) and
(d) of this Section 4; and

(f) the Administrative Agent shall have received
payment of all expenses required to be paid or reimbursed by the Borrower under or in connection with this Agreement, including those
expenses set forth in Section 9 hereof, to the extent such expenses are invoiced at least one Business Day prior to the proposed Agreement
Effective Date.

SECTION 5. Reaffirmation. Each of
the Borrower, Parent and each other Loan Party hereby (a) reaffirms its obligations under the Credit Agreement and each other Loan Document
to which it is a party, in each case as modified by the Second Amendment, (b) reaffirms all Liens on the Collateral which have been granted
by it in favor of the Collateral Agent (for the benefit of the Secured Parties) pursuant to the Loan Documents and (c) acknowledges and
agrees that the guarantees of the Loan Parties contained in the Guarantee Agreement and the grants of security interests by the Loan Parties
contained in the Collateral Agreement and the other Security Documents are, and shall remain, in full force and effect in respect of,
and to secure, the Secured Obligations.

SECTION 6. Credit Agreement. Except
as expressly set forth herein, this Agreement (a) shall not by implication or otherwise limit, impair, constitute a waiver of or
otherwise affect the rights and remedies of the Lenders, the Administrative Agent, the Borrower or any other Loan Party under the Credit
Agreement or any other Loan Document and (b) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations,
covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects
and shall continue in full force and effect. Nothing herein shall be deemed to entitle the Borrower or any other Loan Party to any future
consent to, or waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements
contained in the Credit Agreement or any other Loan Document in similar or different circumstances. After the Agreement Effective Date,
any reference in the Loan Documents to the Second Amendment shall mean the Existing Second Amendment as modified hereby. This Agreement
shall constitute a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents and, for the avoidance
of doubt, any breach of this Agreement by the Borrower or the Parent shall constitute an Event of Default.

    	 	 	 

    	 	 	4

    

SECTION 7. Applicable Law; Waiver of
Jury Trial.

(a) THIS AGREEMENT AND ANY CLAIM,
CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT
AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

(b) EACH PARTY HERETO HEREBY AGREES
AS SET FORTH IN SECTION 9.10 OF THE CREDIT AGREEMENT AS IF SUCH SECTION WERE SET FORTH IN FULL HEREIN.

SECTION 8. Counterparts; Amendment;
Effectiveness.

(a) This Agreement may be executed in
counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which
when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Agreement by facsimile
transmission or other electronic imaging shall be effective as delivery of an original executed counterpart of this Agreement. This Agreement
may not be amended nor may any provision hereof be waived except pursuant to a writing signed by the Borrower, the Administrative Agent
and the Lenders party hereto.

(b) The words “execution”,
“signed”, “signature”, “delivery” and words of like import in or relating to any document to be signed
in connection with this Agreement and the transactions contemplated hereby shall be deemed to include any electronic sound, symbol or
process attached to, or associated with, a contract or other record and adopted by a Person with the intent to sign, authenticate or accept
such contract or record (each, an “Electronic Signature”), and deliveries or the keeping of records in electronic form,
each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof
or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including
the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act or any
other similar State laws based on the Uniform Electronic Transactions Act; provided that nothing herein shall require the Administrative
Agent to accept electronic signatures in any form or format without its prior written consent. Without limiting the generality of the
foregoing, the Borrower (i) agrees that, for all purposes, including in connection with any workout, restructuring, enforcement of remedies,
bankruptcy proceedings or litigation among the Administrative Agent, the Lenders and the Loan Parties, electronic images of this Agreement
(including with respect to any signature pages hereto) shall have the same legal effect, validity and enforceability as any paper original,
and (ii) waives any argument, defense or right to contest the validity or enforceability of this Agreement based solely on the lack of
paper original copies of this Agreement, including with respect to any signature pages hereto.

    	 	 	 

    	 	 	5

    

SECTION 9. Expenses. The Borrower
agrees to reimburse the Administrative Agent for its reasonable out-of-pocket expenses in connection with this Agreement to the extent
required under Section 9.03 of the Credit Agreement.

SECTION 10. Headings. Section headings
used herein are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be
taken into consideration in interpreting, this Agreement.

 

[Signature Pages Follow]

 

 

 

 

 

 

 

 

 

 

 

 

    	 	 	 

    	 	 	

    

IN WITNESS WHEREOF, the parties hereto have caused
this Agreement to be duly executed by their respective authorized officers as of the day and year first written above.

 

	 	
    AMERICAN AXLE & MANUFACTURING, INC.

    AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.

     

	 	By
	 	         	         /s/ Shannon J. Curry
	 	         	Name:  Shannon J. Curry
	 	         	
    Title:    Vice President & Treasurer

     

 

 

 

 

 

 

 

 

 

 

 

 

 

[Signature
Page to Agreement]

 

    	 	 	 

     

    

Solely with respect to the provisions of Section 5 hereof:

 

	 	AAM International Holdings, Inc.
	 	Auburn Hills Manufacturing, Inc.
	 	Oxford Forge, Inc.
	 	Colfor Manufacturing, Inc.
	 	AccuGear, Inc.
	 	MSP Industries Corporation
	 	Metaldyne Performance Group Inc.
	 	MPG Holdco I Inc.
	 	Metaldyne BSM, LLC
	 	Metaldyne M&A Bluffton, LLC
	 	Metaldyne Powertrain Components, Inc.
	 	Metaldyne Sintered Ridgway, LLC
	 	Metaldyne SinterForged Products, LLC
	 	Punchcraft Machining and Tooling, LLC
	 	HHI FormTech, LLC
	 	Jernberg Industries, LLC
	 	Impact Forge Group, LLC
	 	ASP HHI Holdings, Inc.
	 	ASP HHI Acquisition Co., Inc.
	 	ASP MD Holdings, Inc.
	 	MD Investors Corporation
	 	Metaldyne, LLC
	 	Gear Design and Manufacturing, LLC
	 	AAM Powder Metal Components, Inc.
	 	ASP Grede Intermediate Holdings LLC
	 	HHI Holdings, LLC
	 	Rochester Manufacturing, LLC
	 	AAM Casting Corp.

 

 

	 	By
	 	  	/s/ Shannon J. Curry 
	 		Name:  Shannon J. Curry
	 	
    

     
	Title:    Vice President & Treasurer

 

 

 

 

 

 

[Signature
Page to Agreement]

 

    	 	 	 

     

    

  

 

	 	JPMORGAN CHASE BANK, N.A., individually and as Administrative Agent 
	 	By
		       
 	         /s/ Gene Riego De Dios
	 	       
 	Name:Gene Riego De Dios
	 	          	Title:Executive Director
	 	          	 

 

 

 

 

 

 

 

 

[Signature
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    LENDERS

     

    SIGNATURE PAGE TO THE AGREEMENT AMENDING THE SECOND AMENDMENT TO THE CREDIT
    AGREEMENT DATED AS OF APRIL 6, 2017, AMONG AMERICAN AXLE & MANUFACTURING, INC., AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.,
    THE LENDERS AND ISSUING BANKS PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT

     

     

	 	Name of Institution:
	 	 
	 	 
	 	BANK OF AMERICA, N.A.
	 	 
	 	 
	 	By
	 	 	/s/ Brian Lukehart
	 	 	Name: Brian Lukehart
	 	 	Title:  Managing Director

 

 

 

 

 

 

 

 

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    LENDERS

     

    SIGNATURE PAGE TO THE AGREEMENT AMENDING THE SECOND AMENDMENT TO THE CREDIT
    AGREEMENT DATED AS OF APRIL 6, 2017, AMONG AMERICAN AXLE & MANUFACTURING, INC., AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.,
    THE LENDERS AND ISSUING BANKS PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT

     

     

	 	Name of Institution: Barclays Bank PLC
	 	 
	 	 
	 	
	 	 
	 	 
	 	By
	 	 	/s/ Robert Walsh
	 	 	Name: Robert Walsh
	 	 	Title:  Assistant Vice President

 

 

For institutions that require a second signature:

 

	 	 
	 	By
	 	 	 
	 	Name:
	 	Title:

 

 

 

 

 

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    LENDERS

     

    SIGNATURE PAGE TO THE AGREEMENT AMENDING THE SECOND AMENDMENT TO THE CREDIT
    AGREEMENT DATED AS OF APRIL 6, 2017, AMONG AMERICAN AXLE & MANUFACTURING, INC., AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.,
    THE LENDERS AND ISSUING BANKS PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT

     

     

	 	Name of Institution:
	 	 
	 	ROYAL BANK OF CANADA
	 	
	 	 
	 	 
	 	By
	 	 	/s/ Nikhil Madhok
	 	 	Name: Nikhil Madhok
	 	 	Title:   Authorized Signatory

 

 

 

 

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    LENDERS

     

    SIGNATURE PAGE TO THE AGREEMENT AMENDING THE SECOND AMENDMENT TO THE CREDIT
    AGREEMENT DATED AS OF APRIL 6, 2017, AMONG AMERICAN AXLE & MANUFACTURING, INC., AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.,
    THE LENDERS AND ISSUING BANKS PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT

     

     

	 	Name of Institution:
	 	 
	 	 
	 	CITIBANK, N.A.
	 	 
	 	 
	 	By
	 	 	/s/ Matthew Burke
	 	 	Name: Matthew Burke
	 	 	Title: Managing Director and Vice President

 

For institutions that require a second signature:

 

	 	 
	 	By
	 	 	 
	 	Name:
	 	Title:

 

 

 

 

 

 

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    LENDERS

     

    SIGNATURE PAGE TO THE AGREEMENT AMENDING THE SECOND AMENDMENT TO THE CREDIT
    AGREEMENT DATED AS OF APRIL 6, 2017, AMONG AMERICAN AXLE & MANUFACTURING, INC., AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.,
    THE LENDERS AND ISSUING BANKS PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT

     

     

	 	Name of Institution:
	 	 
	 	 
	 	BMO Harris Bank N.A.
	 	 
	 	 
	 	By
	 	 	/s/ Andrew Berryman
	 	 	Name: Andrew Berryman
	 	 	Title: Director

 

For institutions that require a second signature:

 

	 	 
	 	By
	 	 	 
	 	Name:
	 	Title:

 

 

 

 

 

 

[Signature
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    LENDERS

     

    SIGNATURE PAGE TO THE AGREEMENT AMENDING THE SECOND AMENDMENT TO THE CREDIT
    AGREEMENT DATED AS OF APRIL 6, 2017, AMONG AMERICAN AXLE & MANUFACTURING, INC., AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.,
    THE LENDERS AND ISSUING BANKS PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT

     

     

	 	Name of Institution:
	 	 
	 	 
	 	PNC BANK, NATIONAL ASSOCIATION
	 	 
	 	 
	 	By
	 	 	/s/ Scott Neiderheide
	 	 	Name: Scott Neiderheide
	 	 	Title: Senior Vice President

 

 

 

 

 

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    LENDERS

     

    SIGNATURE PAGE TO THE AGREEMENT AMENDING THE SECOND AMENDMENT TO THE CREDIT
    AGREEMENT DATED AS OF APRIL 6, 2017, AMONG AMERICAN AXLE & MANUFACTURING, INC., AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.,
    THE LENDERS AND ISSUING BANKS PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT

     

     

	 	U.S. BANK NATIONAL ASSOCIATION
	 	 
	 	
	 	 
	 	 
	 	By
	 	 	/s/ Jeffrey S. Johnson
	 	 	Name: Jeffrey S. Johnson
	 	 	Title:   Senior Vice President

 

 

 

 

 

 

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    LENDERS

     

    SIGNATURE PAGE TO THE AGREEMENT AMENDING THE SECOND AMENDMENT TO THE CREDIT
    AGREEMENT DATED AS OF APRIL 6, 2017, AMONG AMERICAN AXLE & MANUFACTURING, INC., AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.,
    THE LENDERS AND ISSUING BANKS PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT

     

     

	 	Name of Institution:
	 	 
	 	 
	 	CITIZENS BANK, NATIONAL ASSOCIATION
	 	 
	 	 
	 	By
	 	 	/s/ Stephen A. Maenhout
	 	 	Name: Stephen A. Maenhout
	 	 	Title:   Senior Vice President

 

 

 

 

 

 

 

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    LENDERS

     

    SIGNATURE PAGE TO THE AGREEMENT AMENDING THE SECOND AMENDMENT TO THE CREDIT
    AGREEMENT DATED AS OF APRIL 6, 2017, AMONG AMERICAN AXLE & MANUFACTURING, INC., AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.,
    THE LENDERS AND ISSUING BANKS PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT

     

     

	 	Name of Institution:
	 	 
	 	 
	 	MIZUHO
BANK, LTD.
	 	 
	 	 
	 	By
	 	 	/s/ Donna DeMagistris
	 	 	Name: Donna DeMagistris
	 	 	Title: Executive Director

 

 

 

 

 

 

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    LENDERS

     

    SIGNATURE PAGE TO THE AGREEMENT AMENDING THE SECOND AMENDMENT TO THE CREDIT
    AGREEMENT DATED AS OF APRIL 6, 2017, AMONG AMERICAN AXLE & MANUFACTURING, INC., AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.,
    THE LENDERS AND ISSUING BANKS PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT

     

     

	 	Name of Institution:
	 	 
	 	 
	 	The Huntington National Bank
	 	 
	 	 
	 	By
	 	 	/s/ Steven J. McCormack
	 	 	Name: Steven J. McCormack
	 	 	Title:   Senior Vice President

 

For institutions that require a second signature:

 

	 	 
	 	By  N/A
	 	 	 
	 	Name:
	 	Title:

 

 

 

 

 

 

 

 

[Signature
Page to Agreement]

 

    	 	 	 

     

    

 

	 	
    LENDERS

     

    SIGNATURE PAGE TO THE AGREEMENT AMENDING THE SECOND AMENDMENT TO THE CREDIT
    AGREEMENT DATED AS OF APRIL 6, 2017, AMONG AMERICAN AXLE & MANUFACTURING, INC., AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.,
    THE LENDERS AND ISSUING BANKS PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT

     

     

	 	Name of Institution:
	 	 
	 	 
	 	KEYBANK NATIONAL ASSOCIATION
	 	 
	 	 
	 	By
	 	 	/s/ Brian P. Fox
	 	 	Name: Brian P. Fox
	 	 	Title: Senior Vice President

 

 

 

 

 

 

 

 

[Signature
Page to Agreement]

    	 	 	 

     

    

 

	 	
    LENDERS

     

    SIGNATURE PAGE TO THE AGREEMENT AMENDING THE SECOND AMENDMENT TO THE CREDIT
    AGREEMENT DATED AS OF APRIL 6, 2017, AMONG AMERICAN AXLE & MANUFACTURING, INC., AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.,
    THE LENDERS AND ISSUING BANKS PARTY THERETO AND JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT

     

     

	 	Name of Institution:
	 	 
	 	 
	 	HSBC BANK USA, NATIONAL ASSOCIATION
	 	 
	 	 
	 	By
	 	 	/s/ Kyle Patterson
	 	 	Name: Kyle Patterson
	 	 	Title: Senior Vice President

 

 

 

 

 

[Signature
Page to Agreement]

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