One Year Extension of Revolving Credit and Term Loan Agreement between Federal Screw Works and Comerica Bank

Summary

Federal Screw Works and Comerica Bank have agreed to extend the maturity dates of their existing Revolving Credit Facility and Term Loan by one year. The new maturity dates are October 31, 2007 for the Revolving Credit Facility and October 31, 2009 for the Term Loan. This extension was approved by Comerica Bank in response to a request from Federal Screw Works and is formalized in this letter. The agreement outlines the continued lending relationship and the revised timeframes for repayment.

EX-10.1 2 k89660exv10w1.txt ONE YEAR EXTENSION OF REVOLVING CREDIT AND TERM LOAN AGREEMENT EXHIBIT 10.1 ONE DETROIT CENTER P.O. BOX 75000 DETROIT, MI ###-###-#### PHONE: (313) 222-5431 ROBERT M. RAMIREZ VICE PRESIDENT U.S. BANKING - AUTOMOTIVE FACSIMILE: (313) 222-3778 October 19, 2004 Mr. W.T. ZurSchmiede, Jr. Chairman & Chief Financial Officer Federal Screw Works 20229 Nine Mile Road St. Clair Shores, MI 48080-1775 Dear Mr. ZurSchmiede, Per your request dated September 14, 2002 and pursuant to Section 2.13 of the Revolving Credit and Term Loan Agreement between Federal Screw Works and Comerica Bank, the Bank has approved the one year extension for the Revolving Credit Facility and Term Loan option. The new maturity dates for the facilities are October 31, 2007 and October 31, 2009, respectively. Please feel free to contact me if you have any questions. Thank you. Regards, /s/ Robert M. Ramirez - --------------------- Robert M. Ramirez cc: Wade C. Plaskey