Document:

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Exhibit 10.2

                               MONROE BANK & TRUST
                             SPLIT DOLLAR AGREEMENT

         THIS AGREEMENT is adopted this 1st day of July, 2003, by and between
MONROE BANK & TRUST, a state-chartered commercial bank located in Monroe,
Michigan (the "Company"), and H. DOUGLAS CHAFFIN (the "Executive"). This
Agreement shall append the Split Dollar Endorsement entered into on even date
herewith or as subsequently amended, by and between the aforementioned parties.

                                  INTRODUCTION

         To encourage the Executive to remain an employee of the Company, the
         Company is willing to divide the death proceeds of life insurance
         policies on the Executive's life. The Company will pay life insurance
         premiums from its general assets.

                                    AGREEMENT

         The Company and the Executive agree as follows:

                                    ARTICLE 1
                               GENERAL DEFINITIONS

The following terms shall have the meanings specified:

         1.1      "Insured" means the Executive.

         1.2      "Insurer" means each life insurance carrier that has a Split
Dollar Policy Endorsement attached to this Agreement.

         1.3      "Normal Retirement Age" means the Executive's 65th birthday.

         1.4      "Policy" or "Policies" means the specific life insurance
policy or policies issued by the Insurer.

         1.5      "Termination of Employment" means the Executive ceasing to be
employed by the Company for any reason whatsoever, other than by reason of an
approved leave of absence.

                                    ARTICLE 2
                           POLICY OWNERSHIP/INTERESTS

         2.1 Company Ownership. The Company is the sole owner of the Policies
and shall have the right to exercise all incidents of ownership. The Company
shall be the beneficiary of the remaining death proceeds of the Policies after
the Interest of the Executive or the Executive's transferee has been paid
according to Section 2.2 below.

         2.2 Executive's Interest. The Executive shall have the right to
designate the beneficiary of an amount of death proceeds equal to the "Accrual
Balance" projected to be accrued at the Executive's Normal Retirement Age, as
set forth on Schedule A attached to the Monroe Bank & Trust Supplemental
Executive Retirement Agreement dated July 1, 2003 between the Company and the
Executive and incorporated by reference herein, and as revised and updated by
the Company from time to time. The Executive shall also have the right to elect
and change settlement options that may be permitted. However, the Executive, the
Executive's transferee or the Executive's beneficiary shall have no rights or
interests in the Policies with respect to that portion of the death proceeds
designated in this section 2.2 upon the Executive's Termination of Employment.

         2.3 Option to Purchase. The Company shall not sell, surrender, or
transfer ownership of the Policy while this Agreement is in effect without first
giving the Executive or the Executive's transferee the option to purchase the
Policy for a period of 60 days from written notice of such intention. The
purchase price shall be an amount equal to the cash surrender value of the
Policy.

<PAGE>

This provision shall not impair the right of the Company to terminate this
Agreement.

                                    ARTICLE 3
                                    PREMIUMS

         3.1 Premium Payment. The Company shall pay any premiums due on the
Policy.

         3.2 Economic Benefit. The Company shall determine the economic benefit
attributable to the Executive based on the amount of the current term rate for
the Executive's age multiplied by the aggregate death benefit payable to the
Executive's beneficiary. The "current term rate" is the minimum amount required
to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent
applicable authority.

         3.3 Imputed Income. The Company shall impute the economic benefit to
the Executive on an annual basis.

                                    ARTICLE 4
                                   ASSIGNMENT

         The Executive may assign without consideration all of the Executive's
interests in the Policy and in this Agreement to any person, entity or trust. In
the event the Executive transfers all of the Executive's interest in the Policy,
then all of the Executive's interest in the Policy and in the Agreement shall be
vested in the Executive's transferee, who shall be substituted as a party
hereunder and the Executive shall have no further interest in the Policy or in
this Agreement.

                                    ARTICLE 5
                                     INSURER

         The Insurer shall be bound only by the terms of the Policy. Any
payments the Insurer makes or actions it takes in accordance with the Policy
shall fully discharge it from all claims, suits and demands of all entities or
persons. The Insurer shall not be bound by or be deemed to have notice of the
provisions of this Agreement.

                                    ARTICLE 6
                          CLAIMS AND REVIEW PROCEDURES

         6.1 Claims Procedure. Any person or entity who has not received
benefits under the Agreement that he or she believes should be paid (the
"claimant") shall make a claim for such benefits as follows:

                  6.1.1 Initiation - Written Claim. The claimant initiates a
         claim by submitting to the Company a written claim for the benefits.

                  6.1.2 Timing of Company Response. The Company shall respond to
         such claimant within 90 days after receiving the claim. If the Company
         determines that special circumstances require additional time for
         processing the claim, the Company can extend the response period by an
         additional 90 days by notifying the claimant in writing, prior to the
         end of the initial 90-day period, that an additional period is
         required. The notice of extension must set forth the special
         circumstances and the date by which the Company expects to render its
         decision.

                  6.1.3 Notice of Decision. If the Company denies part or all of
         the claim, the Company shall notify the claimant in writing of such
         denial. The Company shall write the notification in a manner calculated
         to be understood by the claimant. The notification shall set forth:

                        (a)      The specific reasons for the denial,

                        (b)      A reference to the specific provisions of the
                  Agreement on which the denial is based,

                        (c)      A description of any additional information or
                  material necessary for the claimant to perfect the claim and
                  an explanation of why it is needed,

<PAGE>

                        (d)      An explanation of the Agreement's review
                  procedures and the time limits applicable to such procedures,
                  and

                        (e)      A statement of the claimant's right to bring a
                  civil action under ERISA Section 502(a) following an adverse
                  benefit determination on review.

         6.2 Review Procedure. If the Company denies part or all of the claim,
the claimant shall have the opportunity for a full and fair review by the
Company of the denial, as follows:

                  6.2.1 Initiation - Written Request. To initiate the review,
         the claimant, within 60 days after receiving the Company's notice of
         denial, must file with the Company a written request for review.

                  6.2.2 Additional Submissions - Information Access. The
         claimant shall then have the opportunity to submit written comments,
         documents, records and other information relating to the claim. The
         Company shall also provide the claimant, upon request and free of
         charge, reasonable access to, and copies of, all documents, records and
         other information relevant (as defined in applicable ERISA regulations)
         to the claimant's claim for benefits.

                  6.2.3 Considerations on Review. In considering the review, the
         Company shall take into account all materials and information the
         claimant submits relating to the claim, without regard to whether such
         information was submitted or considered in the initial benefit
         determination.

                  6.2.4 Timing of Company Response. The Company shall respond in
         writing to such claimant within 60 days after receiving the request for
         review. If the Company determines that special circumstances require
         additional time for processing the claim, the Company can extend the
         response period by an additional 60 days by notifying the claimant in
         writing, prior to the end of the initial 60-day period, that an
         additional period is required. The notice of extension must set forth
         the special circumstances and the date by which the Company expects to
         render its decision.

                  6.2.5 Notice of Decision. The Company shall notify the
         claimant in writing of its decision on review. The Company shall write
         the notification in a manner calculated to be understood by the
         claimant. The notification shall set forth:

                        (a)      The specific reasons for the denial,

                        (b)      A reference to the specific provisions of the
                  Agreement on which the denial is based,

                        (c)      A statement that the claimant is entitled to
                  receive, upon request and free of charge, reasonable access
                  to, and copies of, all documents, records and other
                  information relevant (as defined in applicable ERISA
                  regulations) to the claimant's claim for benefits, and

                        (d)      A statement of the claimant's right to bring a
                  civil action under ERISA Section 502(a).

                                    ARTICLE 7
                           AMENDMENTS AND TERMINATION

         This Agreement may be amended or terminated only by a written agreement
signed by the Company and the Executive. However, unless otherwise agreed to by
the Company and the Executive, this Agreement will automatically terminate upon
the Executive's Termination of Employment.

                                    ARTICLE 8
                                  MISCELLANEOUS

         8.1 Binding Effect. This Agreement shall bind the Executive and the
Company and their beneficiaries, survivors, executors, administrators and
transferees, and any Policy beneficiary.

<PAGE>

         8.2 No Guarantee of Employment. This Agreement is not an employment
policy or contract. It does not give the Executive the right to remain an
employee of the Company, nor does it interfere with the Company's right to
discharge the Executive. It also does not require the Executive to remain an
employee nor interfere with the Executive's right to terminate employment at any
time.

         8.3 Applicable Law. The Agreement and all rights hereunder shall be
governed by and construed according to the laws of the State of Michigan, except
to the extent preempted by the laws of the United States of America.

         8.4 Reorganization. The Company shall not merge or consolidate into or
with another company, or reorganize, or sell substantially all of its assets to
another company, firm or person unless such succeeding or continuing company,
firm or person agrees to assume and discharge the obligations of the Company.

         8.5 Notice. Any notice, consent or demand required or permitted to be
given under the provisions of this Split Dollar Agreement by one party to
another shall be in writing, shall be signed by the party giving or making the
same, and may be given either by delivering the same to such other party
personally, or by mailing the same, by United States certified mail, postage
prepaid, to such party, addressed to his or her last known address as shown on
the records of the Company. The date of such mailing shall be deemed the date of
such mailed notice, consent or demand.

         8.6 Entire Agreement. This Agreement constitutes the entire agreement
between the Company and the Executive as to the subject matter hereof. No rights
are granted to the Executive by virtue of this Agreement other than those
specifically set forth herein.

         8.7 Administration. The Company shall have powers which are necessary
to administer this Agreement, including but not limited to:

                  (a)      Interpreting the provisions of this Agreement;

                  (b)      Establishing and revising the method of accounting
         for this Agreement;

                  (c)      Maintaining a record of benefit payments; and

                  (d)      Establishing rules and prescribing any forms
         necessary or desirable to administer this Agreement.

         8.8 Named Fiduciary. The Company shall be the named fiduciary and plan
administrator under the Agreement. The named fiduciary may delegate to others
certain aspects of the management and operation responsibilities of the plan
including the employment of advisors and the delegation of ministerial duties to
qualified individuals.

         IN WITNESS WHEREOF, the parties have executed this Agreement the day
and year first above written.

EXECUTIVE:                             COMPANY:

                                       MONROE BANK & TRUST
/s/ H. Douglas Chaffin                 By: /s/ John L. Skibski
----------------------                 -----------------------------------------
H. Douglas Chaffin                     Title: Senior Vice President & Controller<PAGE>
                                                                   EXHIBIT 10.26

                                                                [EXECUTION COPY]

                 AMENDMENT NO. 1 AND WAIVER TO CREDIT AGREEMENT

         This AMENDMENT NO. 1 AND WAIVER dated as of October 16, 2003 (this
"Amendment"), among HLI OPERATING COMPANY, INC., a Delaware corporation (the
"Borrower"), HAYES LEMMERZ INTERNATIONAL, INC., a Delaware corporation (the
"Holdings"), and CITICORP NORTH AMERICA, INC. ("CNAI"), as Administrative Agent
(as defined below) on behalf of each Lender executing a Lender Consent (as
defined below) amends certain provisions of the Credit Agreement, dated as of
June 3, 2003 (as the same may be amended, restated, supplemented or otherwise
modified from time to time, the "Credit Agreement"), among the Borrower,
Holdings, the Lenders and Issuers (in each case as defined therein) party
thereto, CNAI, as administrative agent for the Lenders and the Issuers (in such
capacity, and as agent for the Secured Parties under the other Loan Documents,
the "Administrative Agent"), LEHMAN COMMERCIAL PAPER INC., as Syndication Agent
for the Lenders and the Issuers, and GENERAL ELECTRIC CAPITAL CORPORATION, as
Documentation Agent for the lenders and issuers, CITIGROUP GLOBAL MARKETS INC.
and LEHMAN BROTHERS INC., as Joint Book-Running Lead Managers and Joint Lead
Arrangers.

                              W I T N E S S E T H:

         WHEREAS, the Borrower has requested that the Lenders agree to amend
certain provisions of the Credit Agreement;

         WHEREAS, the Borrowers and the Administrative Agent wish to enter into
this Amendment for the purpose of giving effect to such modifications in each
case as more particularly set forth herein;

         WHEREAS, pursuant to Section 11.1(a) of the Credit Agreement, the
consent of the Requisite Lenders is required to effect the amendments set forth
herein; provided that the amendments set forth in Section 2.1 (Applicable
Margin) below shall also require the consent of each Lender in respect of which
the rate of interest on any Loan outstanding to such Lender is being reduced by
the terms of this Agreement (in each case, such Lenders, the "Affected
Lenders").

         NOW, THEREFORE, in consideration of the above premises, the Borrowers
and the Administrative Agent, at the direction of the Lenders constituting the
Requisite Lenders, and, in the case of Section 2.1 (Applicable Margin), below,
the Affected Lenders, agree as follows:

                                   ARTICLE I
                                   DEFINITIONS

         Unless otherwise defined herein, capitalized terms used herein shall
have the meanings ascribed to such terms in the Credit Agreement.

                                   ARTICLE II
                             AMENDMENT TO ARTICLE I
                                  (DEFINITIONS)

     Section 2.1 APPLICABLE MARGIN. The definition of "Applicable Margin" shall
be amended and restated in its entirety as set forth below:

<PAGE>

                  "Applicable Margin" means (a) with respect to Term Loans
                  maintained as (i) Base Rate Loans, a rate equal to 2.75% per
                  annum and (ii) Eurocurrency Rate Loans, a rate equal to 3.75%
                  per annum and (b) (i) during the period commencing on the
                  Closing Date and ending on five Business Days after the
                  receipt by the Administrative Agent of the Financial
                  Statements for the second full Fiscal Quarter ending after the
                  Closing Date required to be delivered pursuant to Section
                  6.1(b) or (c) (Financial Statements), as applicable, with
                  respect to Revolving Loans, maintained as (A) Base Rate Loans,
                  a rate equal to 2.50% per annum and (B) Eurocurrency Rate
                  Loans, a rate equal to 3.50% per annum and, (ii) thereafter
                  with respect to Revolving Loans, a per annum rate equal to the
                  rate set forth below opposite the applicable Leverage Ratio
                  (determined on the last day of the most recent Fiscal Quarter
                  for which Financial Statements have been delivered pursuant to
                  Section 6.1(b) or (c) (Financial Statements) set forth below:

<TABLE>
<CAPTION>
---------------------------------------------- ---------------- ---------------
Leverage Ratio                                 Base Rate Loans  Eurocurrency
                                                                Rate Loans
---------------------------------------------- ---------------- ---------------
<S>                                            <C>              <C>
Greater than or equal to 3.25 to 1             2.75%            3.75%
---------------------------------------------- ---------------- ---------------
Less than 3.25 to 1 and equal to or greater    2.50%            3.50%
than
2.75 to 1
---------------------------------------------- ---------------- ---------------
Less than 2.75 to 1 and equal to or greater    2.25%            3.25%
than
2.25 to 1
---------------------------------------------- ---------------- ---------------
Less than 2.25 to 1 and equal to or greater    2.00%            3.00%
than
1.75 to 1
---------------------------------------------- ---------------- ---------------
Less than 1.75 to 1                            1.75%            2.75%
---------------------------------------------- ---------------- ---------------
</TABLE>

                  Changes in the Applicable Margin resulting from a change in
                  the Leverage Ratio or the last day of any subsequent Fiscal
                  Quarter shall become effective five Business Days after
                  delivery by the Borrower to the Administrative Agent of new
                  Financial Statements pursuant to Section 6.1(b) or (c)
                  (Financial Statements), as applicable. Notwithstanding
                  anything to the contrary set forth in this Agreement
                  (including the then effective Leverage Ratio), if the Borrower
                  shall fail to deliver such Financial Statements within any of
                  the time periods specified in Section 6.1(b) or (c) (Financial
                  Statements), the Applicable Margin from and including the
                  first day after the date on which such Financial Statements
                  were required to be delivered pursuant to Section 6.1(b) or
                  (c) (Financial Statements), as the case may be, to but not
                  including the date the Borrower delivers to the Administrative
                  Agent such Financial Statements shall

                                       2
<PAGE>

                  conclusively equal the highest possible Applicable Margin
                  provided for in this definition.

         Section 2.2 NEW DEFINITIONS. The following definitions shall be
inserted in the correct alphabetical order in Section 1.1:

                           "Amendment No. 1" means Amendment No. 1 to the
                  Agreement dated as of October 16, 2003 among the Borrowers,
                  Holdings and the Administrative Agent on behalf of each Lender
                  that delivered to the Administrative Agent an executed
                  Acknowledgment and Consent in the form attached as Exhibit B
                  to Amendment No. 1.

                           "Amendment No. 1 Effective Date" means October 20,
                  2003.

                                  ARTICLE III
                             AMENDMENT TO ARTICLE II
                                (THE FACILITIES)

         Section 3.1 LETTERS OF CREDIT. Section 2.5(c) (Letters of Credit) shall
be amended by deleting the words "five Letters of Credit" therefrom and
inserting the words "ten Letters of Credit" in their place.

         Section 3.2 OPTIONAL PREPAYMENTS. Section 2.9(b) (Optional Prepayments)
shall be amended and restated in its entirety as follows:

                           (b) Term Loans. The Borrower may, upon at least three
                  Business Days' prior notice to the Administrative Agent
                  stating the proposed date and aggregate principal amount of
                  the prepayment, prepay the outstanding principal amount of the
                  Term Loans, in whole or in part, together with accrued
                  interest to the date of such prepayment on the principal
                  amount prepaid; provided, however, that if any prepayment of
                  any Eurocurrency Rate Loan is made by the Borrower other than
                  on the last day of an Interest Period for such Loan, the
                  Borrower shall also pay any amounts owing pursuant to Section
                  2.15(e) (Breakage Costs); provided, further, that each partial
                  prepayment shall be in an aggregate amount not less than
                  $5,000,000 or integral multiples of $1,000,000 in excess
                  thereof and that any such partial prepayment shall be applied
                  to the remaining installments of such outstanding principal
                  amount of the Term Loans in the inverse order of their
                  maturities; and, provided, further, that no prepayment of the
                  Term Loans shall be made hereunder prior to the first
                  anniversary of the Amendment No. 1 Effective Date (except from
                  the Net Cash Proceeds of an Equity Issuance and from Excess
                  Cash Flow, in each case, that is not required to be applied to
                  the Loans pursuant to clause (a) or (b) of Section 2.10
                  (Mandatory Prepayments)), unless the Borrower shall pay 101%
                  of the principal amount repaid. Upon the giving of such notice

                                       3
<PAGE>

                  of prepayment, the principal amount of the Term Loans
                  specified to be prepaid, and premium thereon (if any), shall
                  become due and payable on the date specified for such
                  prepayment.

         Section 3.3 MANDATORY PREPAYMENTS. Section 2.10(a) (Mandatory
Prepayments) shall be amended and restated in its entirety as follows:

                           (a) Upon receipt by Holdings, the Parent, the
                  Borrower or any of its Subsidiaries of Net Cash Proceeds
                  arising (i) from an Asset Sale, Property Loss Event or Debt
                  Issuance, the Borrower shall immediately prepay the Loans (or
                  provide cash collateral in respect of Letters of Credit) in an
                  amount equal to 100% of such Net Cash Proceeds, and (ii) from
                  an Equity Issuance, the Borrower shall immediately prepay the
                  Loans in an amount equal to 75% of such Net Cash Proceeds
                  (less the amount of any Net Cash Proceeds applied in
                  accordance with the immediately following proviso); provided,
                  however, that the first $25,000,000 of Net Cash Proceeds of an
                  Equity Issuance may be applied to the repayment, redemption or
                  repurchase of Senior Notes. Anything herein to the contrary
                  notwithstanding, prior to the first anniversary of the
                  Amendment No. 1 Effective Date, in making any prepayment
                  hereunder from Net Cash Proceeds of a Debt Issuance the
                  Borrower shall pay 101% of the principal amount repaid. Any
                  such mandatory prepayment shall be applied in accordance with
                  clause (c) below.

         Section 3.4 FEES. Section 2.13 (Fees) shall be amended by inserting a
new paragraph (e) at the end thereof as follows:

                           (e) Repricing Fee. In the event that the interest
                  rate of the Term Loan is reduced prior to the first
                  anniversary of the Amendment No. 1 Effective Date, the
                  Borrower shall pay to the Term Loan Lenders holding Term Loans
                  at the time of the effectiveness of such reduction an amount
                  equal to 1.00% of the principal amount of Term Loans then
                  outstanding in accordance with each Term Loan Lender's Ratable
                  Portion of the Term Loan Facility.

                                   ARTICLE IV
                            AMENDMENT TO ARTICLE VIII
                              (NEGATIVE COVENANTS)

         Section 4.1 INDEBTEDNESS.

                  (a) Subsection 8.1(e) shall be amended and restated in its
entirety as set forth below:

                           (e) Renewals, extensions, refinancings and refundings
                  of Indebtedness permitted by clause (d) above, this clause (e)
                  or clause (l) below; provided, however, that any such

                                       4

<PAGE>

                  renewal, extension, refinancing or refunding is in an
                  aggregate principal amount not greater than the principal
                  amount of, and is on terms (subject to market rates) no less
                  favorable to the Borrower, such Subsidiary, the Administrative
                  Agent, the Lenders or the Issuers, including as to weighted
                  average maturity, than the Indebtedness being renewed,
                  extended, refinanced or refunded;

         Section 4.2 INVESTMENTS.

                  (a) Subsection 8.3(f)(v) shall be amended by deleting the
figure "$30,000,000" therefrom and inserting in its place the figure
"$40,000,000."

                  (b) Subsection 8.3(m) shall be amended by deleting the figure
"euro 12,000,000" therefrom and inserting in its place the figure "$15,000,000."

         Section 4.3 SALE OF ASSETS.

                  (a) Subsection 8.4(j) shall be amended by deleting the figure
"$15,000,000" therefrom and inserting in its place the figure "$25,000,000."

         Section 4.4 PREPAYMENT AND CANCELLATION OF INDEBTEDNESS. Section 8.6(b)
shall be amended and restated in its entirety as set forth below:

                  (b) Neither Holdings nor the Borrower shall, nor shall they
                  permit any of their respective Subsidiaries to, (a) prepay,
                  redeem, purchase, defease or otherwise satisfy prior to the
                  scheduled maturity thereof in any manner, or make any payment
                  in violation of any subordination terms of, any Indebtedness;
                  provided, however, that the Borrower and its Subsidiaries may
                  (i) prepay the Obligations in accordance with the terms of
                  this Agreement, (ii) make regularly scheduled or otherwise
                  required repayments or redemptions of Indebtedness permitted
                  pursuant to Section 8.1(b), (iii) prepay any Indebtedness
                  payable to the Borrower by any of its Subsidiaries, (iv)
                  prepay any Intercompany Obligations, (v) renew, extend,
                  refinance and refund Indebtedness, so long as such renewal,
                  extension, refinancing or refunding is permitted under Section
                  8.1(e) (Indebtedness), (vi) make payments in connection with
                  the termination of Hedging Contracts in the ordinary course of
                  business, (vii) prepay Indebtedness secured by an asset upon
                  its sale in compliance with Section 8.4 (Sale of Assets),
                  (viii) prepay Indebtedness of Foreign Subsidiaries and (ix)
                  prepay, redeem or purchase up to $25,000,000 of the Senior
                  Notes from the Net Cash Proceeds of an Equity Issuance as
                  described in the proviso to clause (a) of Section 2.10
                  (Mandatory Repayments).

         Section 4.5 AMENDMENTS, WAIVERS, ETC. Clause (v) of Section 11.1(a)
(Amendments, Waivers, Etc.) is hereby amended and restated in its entirety as
follows:

                                       5

<PAGE>

                  (v) reduce the rate of interest on any Loan or Reimbursement
                  Obligation outstanding to such lender or any fee or premium
                  payable to such Lender;

         Section 4.6 AMENDMENTS, WAIVERS, ETC. Section 11.1(c) (Amendments,
Waivers, Etc.) shall be amended by inserting at the end thereof the following
sentence:

                  Anything herein to the contrary notwithstanding, the purchase
                  price payable pursuant to this Section 11.1(c) for the
                  Commitments, Term Loans and Revolving Credit Outstandings of a
                  Non-Consenting Lender shall be increased by 1.00% of the
                  principal balance of the Term Loans held by such
                  Non-Consenting Lender, in the case of any Proposed Change that
                  (i) becomes effective prior to the first anniversary of the
                  Amendment No. 1 Effective Date and (ii) (A) reduces the
                  interest rate in respect of the Term Loans, (B) reduces the
                  premium payable hereunder in respect of the Term Loans
                  pursuant to Section 2.9 (Optional Prepayments) or Section 2.10
                  (Mandatory Prepayments) or (C) reduces the fee payable to any
                  Term Loan Lender pursuant to Section 2.13(e)(Fees).

                                   ARTICLE V
                             AMENDMENT TO SCHEDULE I

         Section 5.1 SCHEDULE I (COMMITMENTS). The column titled "Term Loan
Facility Commitment" on Schedule I (Commitments) to the Credit Agreement is
hereby deleted in its entirety and replaced with Schedule I hereto.

         Section 5.2 SCHEDULE 7.13 (POST CLOSING COVENANTS). Annex A to Schedule
7.13 (Post Closing Covenants) to the Credit Agreement is hereby deleted in its
entirety and replaced with Schedule II hereto.

                                   ARTICLE VI
                              WAIVER OF SECTION 7.1
                   (PRESERVATION OF CORPORATE EXISTENCE, ETC.)

         Section 6.1 The provisions of Section 7.1 (Preservation of Corporate
Existence, Etc.) are hereby waived solely to the extent necessary to permit the
dissolution and liquidation of (a) Motorwheel Corporation of Canada Limited and
(b) EMAC R&D Corporation.

                                  ARTICLE VII
                    CONDITIONS PRECEDENT TO THE EFFECTIVENESS
                            OF THIS AMENDMENT NO. 1.

         Section 7.1 GENERAL EFFECTIVENESS. This Amendment No. 1 shall become
effective, on the date each of the following conditions precedent is satisfied
or duly waived by the Requisite Lenders and each Term Loan Lender (the
"Amendment Effective Date"):

                 (a) Documentation. The Administrative Agent shall have received
on or prior to the Amendment Effective Date each of the following, each dated
the Amendment

                                       6
<PAGE>

Effective Date unless otherwise indicated or agreed to by the Administrative
Agent, in form and substance satisfactory to the Administrative Agent:

                  (i) this Amendment No. 1 executed by the Borrower and
                  Holdings;

                  (ii) the Consent and Agreement in the form attached hereto as
                  Exhibit A, executed by each of the Guarantors;

                  (iii) Acknowledgment and Consents, in the form set forth
                  hereto as Exhibit B (each, a "Lender Consent"), executed by
                  the Lenders constituting the Requisite Lenders and the Term
                  Loan Lenders;

                  (iv) such additional documentation as the Administrative Agent
                  may reasonably require.

         (b)      Fees and Expenses. The Borrower shall have paid:

                  (i) to each Term Lender holding Term Loans on the Amendment
                  Effective Date that submitted a Lender Consent executed by
                  such Term Lender on or before 5:00 p.m. (New York City time)
                  on October 16, 2003, an amendment fee equal to .125% of the
                  principal balance of the Term Loans held by such Term Lender
                  on the Amendment Effective Date; and

                  (ii) all outstanding fees (including any amendment fee), costs
                  and expenses owing to the Administrative Agent, including the
                  reasonable fees, expenses and disbursements of all legal
                  counsel for the Administrative Agent.

                                  ARTICLE VIII
                                  MISCELLANEOUS

         Section 8.1 SUBSIDIARY GUARANTORS. Each Borrower hereby represents and
warrants to the Administrative Agent and the Lenders that as of the date hereof
the Consent and Agreement in the form attached hereto as Exhibit A sets forth
the true and correct name of each Subsidiary Guarantor.

         Section 8.2 REFERENCE TO AND EFFECT ON THE LOAN DOCUMENTS.

                  (a) Except as specifically amended or waived above, all of the
terms of the Credit Agreement and all other Loan Documents shall remain
unchanged and in full force and effect and all obligations and liabilities of
the Loan Parties thereunder shall remain in full force and effect and each of
which is hereby reaffirmed.

                  (b) The execution, delivery and effectiveness of this
Amendment No. 1 shall not, except as expressly provided herein, operate as an
amendment or waiver of any right, power or remedy of any Lender, any Issuer, or
the Administrative Agent under the Credit Agreement or any Loan Document nor
constitute an amendment or waiver of any provision of the Credit Agreement or
any Loan Document.

                                       7
<PAGE>

                  (c) This Amendment No. 1 is a Loan Document.

         Section 8.3 COSTS AND EXPENSES. The Borrowers agree to pay on demand in
accordance with the terms of Section 11.3 of the Credit Agreement all costs and
expenses of the Administrative Agent in connection with the preparation,
reproduction, execution and delivery of this Amendment No. 1, and all other Loan
Documents entered into in connection herewith, including the reasonable fees,
expenses and disbursements of Weil, Gotshal & Manges LLP and other counsel for
the Administrative Agent with respect thereto.

         Section 8.4 TITLES. The Section titles contained in this Amendment No.
1 are and shall be without substantive meaning or content of any kind whatsoever
and are not a part of the agreement between the parties hereto.

         Section 8.5 EXECUTION IN COUNTERPARTS. This Amendment No. 1 may be
executed and delivered in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed and delivered
shall be deemed an original and all of which taken together shall constitute one
and the same original agreement.

         Section 8.6 NOTICES. All communications and notices to the
Administrative Agent hereunder shall be given as provided in the Credit
Agreement.

         Section 8.7 SEVERABILITY. If any term or provision set forth in this
Amendment No. 1 shall be invalid or unenforceable, the remainder of this
Amendment No. 1, or the application of such terms or provisions to persons or
circumstances, other than those to which it is held unenforceable, shall not in
any way be affected or impaired thereby.

         Section 8.8 SUCCESSORS. The terms of this Amendment No. 1 shall be
binding upon, and shall inure to the benefit of, the parties hereto and their
respective successors or assigns.

         Section 8.9 GOVERNING LAW. This Amendment No. 1 shall be interpreted,
and the rights and liabilities of the parties determined, in accordance with the
internal law of the State of New York.

                            [signature pages follow]

                                       8
<PAGE>

         IN WITNESS WHEREOF, this Amendment No. 1 has been duly executed on the
date set forth above.

                                       HLI OPERATING COMPANY INC.,
                                       as Borrower

                                       By: /s/ Gary J. Findling
                                          --------------------------------------
                                       Name:  Gary J. Findling
                                       Title: Treasurer

                                       HAYES LEMMERZ INTERNATIONAL, INC.,
                                       as Holdings

                                       By: /s/ Gary J. Findling
                                          --------------------------------------
                                       Name:  Gary J. Findling
                                       Title: Treasurer

                                       CITICORP NORTH AMERICA INC.,
                                       as Administrative Agent

                                       By: /s/ Thomas Halsch
                                          --------------------------------------
                                       Name:  Thomas Halsch
                                       Title: Director

                                AMENDMENT NO. 1
<PAGE>

                                   SCHEDULE I
                                   TERM LOANS

<TABLE>
<CAPTION>
                                        LENDER                                      TERM LOAN
                                        ------                                      ---------
<S>                                                                             <C>
                             Pacifica Cdo II Ltd                                $    1,999,999.99
                             Centurion Cdo II, LTD                              $      500,000.02
                             Centurion Cdo VI                                   $      500,000.02
                             Kzh Cypresstree Funding Llc                        $    1,250,000.01
                             Kzh Ing-2 1                                        $    1,250,000.01
                             Kzh Sterling llc                                   $      999,999.99
                             Sequils-Centurion V, I LTD                         $      500,000.02
                             Ag Capital Funding Partners                        $    3,500,000.01
                             Northwoods Capital II, LTD                         $    3,500,000.01
                             Northwoods Capital III, LTD                        $    5,000,000.02
                             Northwoods Capital, LTD                            $    3,999,999.98
                             Ares IV CLO LTD                                    $    2,500,000.01
                             Ares Leveraged Investment Fund II LP               $    5,000,000.02
                             Ares V Clo Ltd.                                    $    2,250,000.00
                             Ares Vi CLO Ltd                                    $    2,250,000.00
                             Ares VII                                           $    2,999,999.00
                             Venture Cdo 2002 Limited                           $    1,999,999.99
                             Black Diamond Clo 2000-1 LTD                       $    5,000,000.02
                             Black Diamond Limited 1998-1 LTD                   $    5,000,000.02
                             Toronto Dominion Bank                              $    5,000,000.02
                             Callidus Debt Partners CDO Fund                    $    1,999,999.99
                             Stanwich Loan Funding                              $    1,500,000.01
                             Toronto Dominion Life (New York),                  $    1,500,000.01
                             Trumbull Thc, Ltd                                  $    1,999,999.99
                             Commerzbank Ag                                     $    9,999,999.99
                             Csam Funding III                                   $    1,999,999.99
                             First Dominion Finance I                           $    2,999,999.99
                             First Dominion Funding III                         $    2,999,999.99
                             First Dominion II                                  $    1,999,999.99
                             Hewett's Island CDO, Ltd                           $    1,999,999.99
                             Denali Capital CLO II, LTD                         $    1,999,999.99
                             Denali Capital CLO III, LTD                        $    2,999,999.99
                             Apex I (IDM) CDO I, LTD                            $    1,999,999.99
                             Babson Clo ltd                                     $    1,135,135.15
                             Bill & Melinda Gates Partners                      $      567,567.56
                             Elc (Cayman) LTD                                   $    1,135,135.15
                             Elc (Cayman) LTD. 1999-II                          $    1,135,135.15
                             Elc (Cayman) LTD. 1999-III                         $      756,756.74
                             Elc (Cayman) LTD. 2000-I                           $      756,756.74
                             Elc (Cayman) Ltd. CDO Series 1999-I                $    1,513,513.51
                             Maplewood (Cayman) Limited Investment              $    1,513,513.51
                             Massachusetts Mutual Life Insurance                $    2,459,459.45
                             Suffield Clo, Limited                              $    1,513,513.52
                             Tryon Clo Ltd.                                     $    1,513,513.52
                             Costantinus Eaton Limited Cdo V, LTD               $    2,500,000.01
                             Eaton Vance CDO III, LTD                           $    1,749,999.98
                             Eaton Vance CDO IV, LTD                            $    1,500,000.01
                             Eaton Vance CDO VI, LTD                            $    2,999,999.99
</TABLE>

                                AMENDMENT NO. 1
<PAGE>

<TABLE>
<CAPTION>
                                        LENDER                                      TERM LOAN
                                        ------                                      ---------
<S>                                                                             <C>
                             Eaton Vance Institutional Senior Loan              $    1,749,999.98
                             Eaton Vance Limited Duration                       $    6,000,000.01
                             Eaton Vance Senior Income Trust                    $    2,250,000.00
                             Grayson & Co                                       $    5,499,999.99
                             Oxford Strategic Income Fund                       $      500,000.02
                             Senior Debt Portfolio                              $   10,250,000.01
                             Foothill Income Trust II                           $    9,999,999.99
                             Franklin Clo I Ltd                                 $    1,999,999.99
                             Franklin Clo II Limited                            $    2,999,999.99
                             Franklin Clo III, LTD                              $    5,000,000.02
                             Franklin Clo IV, LTD                               $    2,999,999.99
                             Franklin Floating Daily Access                     $      999,999.99
                             Franklin Floating Rate Master Series               $    1,999,999.99
                             Franklin Floating Rate Trust                       $    9,000,000.00
                             General Electric Capital Corporation               $   17,000,000.01
                             Goldentree High Yield Opportunities I              $    3,999,999.98
                             Goldentree High Yield Opportunities II             $    3,999,999.98
                             Goldentree Loan Opportunities I, LTD               $    3,999,999.98
                             Goldentree Loan Opportunities II, LTD              $    2,999,999.99
                             Harch Clo I Ltd.                                   $      999,999.99
                             Blue Square Funding LTD                            $      999,999.99
                             Elf Funding Trust I                                $      999,999.99
                             Emerald Orchard Limited                            $      999,999.99
                             Highland Legacy Ltd                                $      999,999.99
                             Highland Loan Funding V                            $      999,999.99
                             Kzh Highland-2 Llc                                 $      999,999.99
                             Pamco Cayman LTD                                   $      999,999.99
                             Restoration Funding CLO, Ltd                       $      999,999.99
                             Ing Prime Rate Trust                               $    5,000,000.02
                             Ing Senior Income Fund                             $    1,500,000.01
                             Ml Clo XV Pilgrim America                          $    2,500,000.01
                             Ml Clo XX Pilgrim America (Cayman), LTD            $    1,999,999.99
                             Pilgrim Clo  1999-1 LTD                            $    2,999,999.99
                             Sequils-Pilgrim I Limited                          $    1,999,999.99
                             Aeries Finance II                                  $      800,000.01
                             Aim Floating Rate Fund                             $    1,299,999.98
                             Amara I Finance Ltd                                $      500,000.02
                             Amara-2 Finance Ltd.                               $      900,000.00
                             Avalon Capital ltd                                 $    1,600,000.01
                             Avalon Capital ltd-2                               $    1,600,000.01
                             Charter View Portfollio                            $    3,500,000.01
                             Diversified Credit Portfollio LTD.                 $      299,999.99
                             Invesco Cbo 2001-1 Ltd                             $      500,000.02
                             Invesco European CDO I S.A                         $      749,999.99
                             Oasis Collateralized High Income                   $      999,999.99
                             Saratoga Clo I, Limited                            $      749,999.99
                             Sequils Liberty LTD                                $    1,500,000.01
                             Continental Assurance Opportunities                $    2,500,000.01
                             Continental Casualty Company                       $   37,500,000.01
                             Elf Funding Ltd III                                $    2,500,000.01
                             New York Life Insurance and Annuity corp           $    7,000,000.01
                             Nylim Flatiron CLO 2003-1 LTD                      $    2,500,000.01
</TABLE>

                                       11
<PAGE>
<TABLE>
<CAPTION>
                                        LENDER                                      TERM LOAN
                                        ------                                      ---------
<S>                                                                             <C>
                             Harbourview Clo IV                                 $      999,999.99
                             Harbourview Clo V                                  $      999,999.99
                             Oppenheimer Senior Floating  Rate Fund             $    1,999,999.99
                             Orix Funding LLC                                   $   10,999,999.99
                             Seaboard Clo 2000 Ltd                              $    2,999,999.99
                             Addison Cdo, Limited                               $    1,999,999.99
                             Athena Cdo, ltd                                    $    1,500,000.01
                             Bedford Cdo, Limited                               $    1,500,000.01
                             Captiva IV Finance LTD                             $    1,999,999.99
                             Catalina Cdo Ltd.                                  $      999,999.99
                             Delano Company Clo                                 $    2,500,000.01
                             Jissekikun Funding, LTD                            $    1,500,000.01
                             Royalton Company                                   $    1,999,999.99
                             Sequils Magnum, LTD                                $    1,999,999.99
                             Waveland-Ingots, LTD                               $    1,999,999.99
                             Wrigley Cdo, LTD                                   $    1,999,999.99
                             Putnam Diversified Income Trust                    $    1,275,000.01
                             Putnam High Yield Advantage Fund                   $      277,499.99
                             Putnam High Yield Trust                            $      637,499.99
                             Putnam Master Income Trust                         $       97,499.99
                             Putnam Master Intermediate Income Trust            $      180,000.00
                             Putnam Premier IncomeTrust                         $      247,500.00
                             Putnam Variable Trust-PVT Diversified              $      150,000.01
                             Putnam Variable Trust-PVT High Yield               $      135,000.00
                             R2 Investments, LDC                                $   15,000,000.01
                             Trs Leda Iii                                       $   50,000,000.02
                             Castle Hill Clo III, Ltd                           $    2,500,000.01
                             Castle Hill II-Ingots ltd                          $    1,999,999.99
                             Great Point CLO 1999-1 LTD.                        $    2,999,999.99
                             Harbour Town Funding LLC                           $    3,500,000.01
                             Race Point CLO Limited                             $    3,500,000.01
                             Race Point II, CLO                                 $    2,999,999.99
                             Sankaty High Trust Partners II, L.P                $    7,499,999.99
                             Quantum Partners LDC                               $    5,000,000.02
                             First Sunamerica Life Insurance                    $    3,200,000.02
                             Galaxy Clo 1999-1, LTD                             $    1,400,000.02
                             Galaxy Clo CLO 2003-1                              $    1,179,999.99
                             Kzh Riverside LLC                                  $      540,000.00
                             Kzh Soleil 2 Llc                                   $    1,119,999.98
                             Kzh Soleil Llc                                     $      559,999.99
                             Inner Harbor CBO 2001-1 LTD                        $    1,999,999.99
</TABLE>

                                       12
<PAGE>

                                   SCHEDULE II

                            ANNEX A TO SCHEDULE 7.13

                                 AMENDMENT NO. 1
<PAGE>

                                    EXHIBIT A

                 CONSENT, AGREEMENT AND AFFIRMATION OF GUARANTY.

Each of the undersigned Guarantors hereby consents to the terms of the foregoing
Amendment No. 1 and agrees that the terms of this Amendment No. 1 shall not
affect in any way its obligations and liabilities under any Loan Document, all
of which obligations and liabilities shall remain in full force and effect and
each of which is hereby reaffirmed.

                  HLI PARENT COMPANY, INC.
                  HAYES LEMMERZ INTERNATIONAL -    BOWLING GREEN, INC.
                  HAYES LEMMERZ INTERNATIONAL -    BRISTOL, INC.
                  HAYES LEMMERZ INTERNATIONAL -    CADILLAC, INC.
                  HAYES LEMMERZ INTERNATIONAL -    CALIFORNIA, INC.
                  HAYES LEMMERZ INTERNATIONAL -    CMI, INC.
                  HAYES LEMMERZ INTERNATIONAL -    COMMERCIAL HIGHWAY, INC.
                  HAYES LEMMERZ INTERNATIONAL -    EQUIPMENT & ENGINEERING, INC.
                  HAYES LEMMERZ INTERNATIONAL -    GEORGIA, INC.
                  HAYES LEMMERZ INTERNATIONAL -    HOMER, INC.
                  HAYES LEMMERZ INTERNATIONAL -    HOWELL, INC.
                  HAYES LEMMERZ INTERNATIONAL -    HUNTINGTON, INC.
                  HAYES LEMMERZ INTERNATIONAL -    KENTUCKY, INC.
                  HAYES LEMMERZ INTERNATIONAL -    LAREDO, INC.
                  HAYES LEMMERZ INTERNATIONAL -    MEXICO, INC.
                  HAYES LEMMERZ INTERNATIONAL -    MONTAGUE, INC.
                  HAYES LEMMERZ INTERNATIONAL -    OHIO, INC.
                  HAYES LEMMERZ INTERNATIONAL -    PCA, INC.
                  HAYES LEMMERZ INTERNATIONAL -    PETERSBURG, INC.
                  HAYES LEMMERZ INTERNATIONAL -    SEDALIA, INC.
                  HAYES LEMMERZ INTERNATIONAL -    SOUTHFIELD, INC.
                  HAYES LEMMERZ INTERNATIONAL -    TECHNICAL CENTER, INC.
                  HAYES LEMMERZ INTERNATIONAL -    TEXAS, INC.
                  HAYES LEMMERZ INTERNATIONAL -    TRANSPORTATION, INC.
                  HAYES LEMMERZ INTERNATIONAL -    WABASH, INC.
                  HLI BRAKES HOLDING COMPANY, INC.
                  HLI COMMERCIAL HIGHWAY HOLDING COMPANY, INC.
                  HLI POWER TRAIN HOLDING COMPANY, INC.
                  HLI REALTY, INC.
                  HLI SERVICES HOLDING COMPANY, INC.
                  HLI WHEELS HOLDING COMPANY, INC.
                  HLI - SUMMERFIELD REALTY CORP.

             By: /s/ Gary J. Findling
                 ----------------------------------
             Name:  Gary J. Findling
             Title: Treasurer

                     Guarantors' Consent to Amendment No. 1
<PAGE>

                                    EXHBIT B

                           ACKNOWLEDGEMENT AND CONSENT

To:      Citicorp North America, Inc.
         388 Greenwich Street
         New York, New York  10013
         Attention:  Mr. Shapleigh Smith

Re: HLI Operating Company, Inc.

         Reference is made to the Credit Agreement, dated as of June 3, 2003 (as
the same may be amended, restated, supplemented or otherwise modified from time
to time, the "Credit Agreement"), among HLI Operating Company, Inc., a Delaware
corporation, as Borrower, Hayes Lemmerz International, Inc., a Delaware
corporation, as Holdings, the Lenders (as defined therein), the Issuers (as
defined therein), Citicorp North America, Inc., as administrative agent for the
Lenders and the Issuers (in such capacity, and as agent for the Secured Parties
under the other Loan Documents, the "Administrative Agent"), Lehman Commercial
Paper, Inc., as syndication agent for the Lenders and the Issuers, and General
Electric Capital Corporation as documentation agent for the Lenders and Issuers.
Capitalized terms used herein and not otherwise defined herein are used herein
as defined in the Credit Agreement.

         The Borrower has requested that the Lenders consent to an Amendment and
Waiver to the Credit Agreement on the terms described in Amendment No. 1 and
Waiver to the Credit Agreement ("Amendment No. 1"), the form of which is
attached hereto.

         Pursuant to Section 11.1(a) of the Credit Agreement, the undersigned
Lender hereby consents to the terms of Amendment No. 1 and authorizes the
Administrative Agent to execute and deliver Amendment No. 1 on its behalf.

                                         Very truly yours,

                                         ---------------------------------------
                                         (NAME OF LENDER)

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

Dated as of October __, 2003

                          ACKNOWLEDGEMENT AND CONSENT

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}]]