Ex. 10.47 Amendment #6 dated May 3, 2008 to Letter Agreement dated February 26,2004 by and between GM and AAM, Inc
EX-10.47 2 exhibit10-47.htm AMENDMENT #6 DATED MAY 3, 2008 TO LETTER AGREEMENT DATED FEBRUARY 26, 2004 BY AND BETWEEN GM AND AAM INC. exhibit10-47.htm
Exhibit 10.47
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN
OMITTED AND FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 24B-2 OF THE SECURITIES EXCHANGE
ACT OF 1934, AS AMENDED
Amendment # 6 dated May 3, 2008 to Letter Agreement dated February 26, 2004 by and between GM and AAM Inc.
1. | Amendment # 3 and Amendment #5 are hereby amended as follows: Estimated annual volume for the […***…] Program shall be […***…] adjusted from a previous volume of […***…]. |
2. | Amendment #5 is hereby amended as follows: Estimated annual volume for the […***…] shall be […***…] adjusted from a previous volume of […***…]. |
3. | Amendment #5 is hereby amended as follows: Estimated annual volume for the […***…] shall be […***…] adjusted from a previous volume of […***…]. |
4. | Amendment #5 is hereby amended as follows: Estimated annual volume for the […***…] shall be […***…] adjusted from a previous volume of […***…]. |
5. | Amendment # 5 is hereby amended as follows: |
a. | AAM and GM agree to […***…] as set forth in accordance with the February 26, 2004 Letter Agreement with the following product programs: |
[Missing Graphic Reference]
b. | […***…] the programs detailed in sub-paragraph “a,” above, which are […***…] from other products supplied by AAM, shall be […***…] in the specifications for such products. |
c. | […***…] the programs detailed in sub-paragraph “a,” above, which […***…] other products supplied by AAM, shall be […***…] to AAM, […***…] in the specifications for such products as set forth below: |
i) | […***…] - based on […***…] in the specifications for such products. |
ii) | […***…] Products for the […***…] – based on […***…] per Amendments #1 & #2. |
iii) | […***…] – based on the […***…] for […***…] products. |
iv) | […***…] – […***…] of these products to the […***…] based upon an agreed upon design direction. |
v) | […***…] – […***…] of these products to the […***…] based upon an agreed upon design direction. |
vi) | […***…] – […***…] in the specifications for such products |
d. | The […***…] is deleted. |
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*** Confidential Treatment Requested
6. | […***…] and […***…] programs […***…] to AAM under Amendment #5 is amended as follows: |
a) | […***…] and […***…] program: […***…] is […***…] from January 2008 to October 2008. |
b) | […***…] and […***…] program: […***…] is […***…] from January 2008 to July 2009. |
7. | In the event that GM […***…] or other platform(s) that […***…] and / or […***…] products […***…] by AAM, then […***…] products to AAM […***…] under the terms and conditions of the February 26, 2004 Agreement between GM and AAM. |
8. | […***…] which provides additional consideration […***…]. |
9. | With respect to the […***…], now designated as […***…] in this amendment, […***…] or be consolidated with other […***…] or […***…] platforms […***…], then AAM will be […***…] such […***…] under the terms and conditions of this Agreement. |
10. | […***…]: All of these products being […***…] pursuant to this agreement shall be included in […***…]. |
11. | Program Cancellation: Not withstanding the terms of any other agreement […***…], in the event that any of the programs […***…] under the original 2-26-04 Agreement and subsequent Amendments (#1 through #6 and beyond) […***…] based on the same terms and conditions as the parties have previously agreed. The date of […***…] shall be deleted from paragraph […***…] of the […***…] Agreement. |
12. | Amendment #’s referenced herein refer to Amendments to the Letter Agreement dated February 26, 2004, between General Motors Corporation and American Axle & Manufacturing Inc. |
13. | Amendment #3 and Amendment #5 are each hereby acknowledged, ratified, and confirmed in their entireties to be in full force and effect, except as modified by this Amendment #6. |
14. | With this Agreement, AAM acknowledges that the […***…] and the […***…]. |
15. | […***…] components for the products […***…] pursuant to this agreement or under the original 2-26-04 Agreement or subsequent Amendments (#1 through #6) will be subject to […***…]. The attached document (attachment 2) specifies the […***…] components for each program. For each mutually agreed […***…], GM will issue a […***…] to AAM pursuant to the […***…] in place between GM and AAM. This alteration to the existing […***…] will be initiated with the launch of […***…] under the 2-26-04 Agreement or subsequent Amendments (#1 through #6). (Current programs will not be affected by this alteration). |
16. | GM and AAM understand that the program […***…] under this Agreement (amendments 1 – 6) […***…]. Notwithstanding paragraph 11 above, AAM agrees that […***…]. AAM and GM agree […***…] for such […***…] with respect to the remedies outlined in paragraph 11 above. |
/s/ Steven J. Proctor | /s/ Randall Pappal | |||
American Axle & Manufacturing, Inc. | General Motors Corporation | |||
Steven J. Proctor | Randall Pappal | |||
Vice President | Executive Director | |||
Sales & Marketing | Global Purchasing and Supply Chain |
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*** Confidential Treatment Requested