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

Summary

Comerica Bank has approved a one-year extension for both the Revolving Credit Facility and Term Loan provided to Federal Screw Works. The new maturity dates are October 31, 2004 for the Revolving Credit Facility and October 31, 2006 for the Term Loan. This extension is granted in response to a request from Federal Screw Works and is made under the terms of their existing loan agreement. No other changes to the agreement are mentioned in this letter.

EX-10.1 3 k65678ex10-1.txt 1 YEAR EXTENSION OF REVOLVING CREDIT AND TERM LOAN EXHIBIT 10.1 [COMERICA BANK LETTERHEAD] October 19, 2001 Mr. W.T. ZurSchmiede, Jr. Chairman & Chief Executive Officer Federal Screw Works 20229 Nine Mile Road St. Clair Shores, MI 48080-1775 Dear Mr. ZurSchmiede, Per your request dated September 4, 2001 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, 2004 and October 31, 2006, respectively. Please feel free to contact me if you have any questions. Best Regards, /s/ Robert M. Ramirez Robert M. Ramirez cc: Wade Plaskey