EXHIBIT 10.03 *** AGREEMENT * THIS *** AGREEMENT dated as of the 24th day of February, 2000, by and between American Axle & Manufacturing, Inc. ("AAM") and General Motors Corporation ("Customer"). WHEREAS, AAM and the Customer have entered into...
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EXHIBIT 10.03
*** AGREEMENT *
THIS *** AGREEMENT dated as of the 24th day of February, 2000,
by and between American Axle & Manufacturing, Inc. ("AAM") and General Motors
Corporation ("Customer").
WHEREAS, AAM and the Customer have entered into various
commercial agreements providing for certain *** on components manufactured by
AAM and sold to the Customer, and
WHEREAS, the Customer has agreed with AAM to ***.
NOW, THEREFORE, for good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties hereto
agree as follows:
1. *** that have been previously agreed to by AAM and GM
for various GM programs for model years 2001 through
2005 approximate ***, which is subject to change
based on ***, as shown on Exhibit I.
2. Commencing March 1, 2000, GM shall *** and AAM shall
*** the *** of these parts by *** in model year 2001
without further ***, until such time as AAM receives
the *** set forth below. The projected *** to GM
based on the foregoing is *** (*** per year for ***
years) as shown in the following table and the
agreed upon *** benefit to AAM is expected to equal
***:
--------------------- ------------------ ------------------ ------------------ ------------------ ------------------
8/1/2000 - 8/1/2001 - 8/1/2002 - 8/1/2003 - 8/1/2003 - Total
7/31/2001 7/31/2002 7/31/2003 7/31/2004 7/31/2005
--------------------- ------------------ ------------------ ------------------ ------------------ ------------------
*** *** *** *** *** ***
--------------------- ------------------ ------------------ ------------------ ------------------ ------------------
The resulting *** to AAM during the period is agreed to be ***
(*** less *** based on projected volume). After *** have yielded *** to AAM's
*** during the period of time covered by this agreement will be resumed in
accordance with the schedules set forth in the
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various applicable AAM/Customer agreements. For example: In the year following
the year in which the *** to AAM equals ***, *** scheduled for year 2000, but
not yet implemented, will be made in the months originally scheduled. In the
second year *** previously scheduled for year 2001 will be made in the months
originally scheduled, etc.
IN WITNESS WHEREOF, and intending to be legally bound, the
parties hereto have executed this agreement as of the date first set forth
above.
GENERAL MOTORS AMERICAN AXLE &
CORPORATION ("CUSTOMER") MANUFACTURING, INC. ("AAM")
BY: /S/ XXXX X. XXXXXX BY: /S/ X.X. XXXXXX
-------------------- -----------------
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Exhibit I
DAILY LCR RED. 02/25/00-
AXLES 2000 2001 2002 2003 2004 $/PC. 05/24/2000
8.25 *** *** *** *** ***
97-01 05/25/2000 *** ***
97-01 05/25/2001 ***
97-01 05/25/2002 ***
LT 08/01/2003 ***
8.25 *** *** *** *** ***
97-01 05/25/2000 *** ***
97-01 05/25/2001 ***
97-01 05/25/2002 ***
LT 08/01/2003 ***
8.6 LEAF *** *** *** *** ***
97-01 05/25/2000 *** ***
97-01 05/25/2001 ***
97-01 05/25/2002 ***
LT 08/01/2003 ***
8.6 MULTI-LINK *** *** *** *** ***
97-01 05/25/2000 *** ***
97-01 05/25/2001 ***
97-01 05/25/2002 ***
LT 08/01/2003 ***
9.5 *** *** *** *** ***
97-01 05/25/2000 *** ***
97-01 05/25/2001 ***
97-01 05/25/2002 ***
LT 08/01/2003 ***
10.5 *** *** *** *** ***
97-01 05/25/2000 *** ***
97-01 05/25/2001 ***
97-01 05/25/2002 ***
LT 08/01/2003 ***
11.5 *** *** *** ***
08/01/2003 ***
PROPS
97-01 03/01/2001 ***
(GPS)
LT 08/01/2003
LINKAGE & ***
XXXXXX
XX 08/01/2003 ***
TOTAL 800 *** *** *** ***
GMT600/610 * *** *** *** ***
REARS
LT 08/01/2002 ***
LT 08/01/2003 ***
PROPS
LT 08/01/2002 ***
LT 08/01/2003 ***
LINKAGE
LT 08/01/2002 ***
LT 08/01/2003 ***
STAB BAR
LT 08/01/2002 ***
LT 08/01/2003 ***
TOTAL PER YEAR
05/25/00- 02/25/00- 03/01/01- 05/25/01-
12/31/2000 12/31/2000 12/31/2001 12/31/2001
8.25
97-01 05/25/2000 *** ***
97-01 05/25/2001 ***
97-01 05/25/2002
LT 08/01/2003
8.25
97-01 05/25/2000 *** ***
97-01 05/25/2001 ***
97-01 05/25/2002
LT 08/01/2003
8.6 LEAF
97-01 05/25/2000 *** ***
97-01 05/25/2001 ***
97-01 05/25/2002
LT 08/01/2003
8.6 MULTI-LINK
97-01 05/25/2000 *** ***
97-01 05/25/2001 ***
97-01 05/25/2002
LT 08/01/2003
9.5
97-01 05/25/2000 *** ***
97-01 05/25/2001 ***
97-01 05/25/2002
LT 08/01/2003
10.5
97-01 05/25/2000 *** ***
97-01 05/25/2001 ***
97-01 05/25/2002
LT 08/01/2003
11.5
08/01/2003
PROPS
97-01 03/01/2001 ***
(GPS)
LT 08/01/2003
LINKAGE &
XXXXXX
XX 08/01/2003
TOTAL 800
GMT600/610 *
REARS
LT 08/01/2002
LT 08/01/2003
PROPS
LT 08/01/2002
LT 08/01/2003
LINKAGE
LT 08/01/2002
LT 08/01/2003
STAB BAR
LT 08/01/2002
LT 08/01/2003
TOTAL PER YEAR ***
*Assumes that AAM is awarded 610 axle and propshaft
LT = Lifetime agreement reductions
97-01 = Red action due to GMT 800 capital
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LT = Lifetime agreement reductions
97-01 = Red action due to GMT 800 capital
AXLES 01/01/01-12/31/2001 05/25/02-12/31/2002 08/01/02-12/31/2002 01/01/02-12/31/2002 08/01/03-12/31/2003
8.25
97-01 05/25/2000 *** ***
97-01 05/25/2001 *** ***
97-01 05/25/2002 *** ***
LT 08/01/2003 ***
8.25
97-01 05/25/2000 *** ***
97-01 05/25/2001 *** ***
97-01 05/25/2002 *** ***
LT 08/01/2003 ***
8.6 LEAF
97-01 05/25/2000 *** ***
97-01 05/25/2001 *** ***
97-01 05/25/2002 *** ***
LT 08/01/2003 ***
8.6 MULTI-LINK
97-01 05/25/2000 *** ***
97-01 05/25/2001 *** ***
97-01 05/25/2002 *** ***
LT 08/01/2003 ***
9.5
97-01 05/25/2000 *** ***
97-01 05/25/2001 *** ***
97-01 05/25/2002 *** ***
LT 08/01/2003 ***
10.5
97-01 05/25/2000 *** ***
97-01 05/25/2001 *** ***
97-01 05/25/2002 *** ***
LT 08/01/2003 ***
11.5
08/01/2003 ***
PROPS
97-01 03/01/2001 (GPS) *** ***
LT 08/01/2003 ***
LINKAGE & XXXXXX
XX 08/01/2003 ***
TOTAL 800
GMT 600/610
REARS
LT 08/01/2002 *** ***
LT 08/01/2003 ***
PROPS
LT 08/01/2002 *** ***
LT 08/01/2003 ***
LINKAGE
LT 08/01/2002 *** ***
LT 08/01/2003 ***
STAB BAR
LT 08/01/2002 *** ***
LT 08/01/2003 ***
TOTAL PER YEAR *** ***
AXLES 01/01/03-12/31/2003 01/01/04-02/25/2004 _____ 2/25/04
THRU 2/25/04
8.25
97-01 05/25/2000 **** **** ****
97-01 05/25/2001 **** **** ****
97-01 05/25/2002 **** **** ****
LT 08/01/2003 **** **** ****
8.25
97-01 05/25/2000 **** **** ****
97-01 05/25/2001 **** **** ****
97-01 05/25/2002 **** **** ****
LT 08/01/2003 **** **** ****
8.6 LEAF
97-01 05/25/2000 **** **** ****
97-01 05/25/2001 **** **** ****
97-01 05/25/2002 **** **** ****
LT 08/01/2003 **** **** ****
8.6 MULTI-LINK
97-01 05/25/2000 **** **** ****
97-01 05/25/2001 **** **** ****
97-01 05/25/2002 **** **** ****
LT 08/01/2003 **** **** ****
9.5
97-01 05/25/2000 **** **** ****
97-01 05/25/2001 **** **** ****
97-01 05/25/2002 **** **** ****
LT 08/01/2003 **** **** ****
10.5
97-01 05/25/2000 **** **** ****
97-01 05/25/2001 **** **** ****
97-01 05/25/2002 **** **** ****
LT 08/01/2003 **** **** ****
11.5
08/01/2003 *** *** ***
PROPS
97-01 03/01/2001 (GPS) *** *** ***
LT 08/01/2003 *** *** ***
LINKAGE & XXXXXX
XX 08/01/2003
TOTAL 800
GMT 600/610
REARS
LT 08/01/2002 *** *** ***
LT 08/01/2003 *** *** ***
PROPS
LT 08/01/2002 *** *** ***
LT 08/01/2003 *** *** ***
LINKAGE
LT 08/01/2002 *** *** ***
LT 08/01/2003 *** *** ***
STAB BAR
LT 08/01/2002 *** *** ***
LT 08/01/2003 *** *** ***
TOTAL PER YEAR *** *** ***
* Portions of this Exhibit 10.03 were omitted and filed separately with the
Secretary of the Securities and Exchange Commission (the "Commission")
pursuant to an application for confidential treatment filed with the
Commission pursuant to Rule 406 under the Securities Act of 1933, as
amended. Such portions are marked by the symbol "***".
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*Assumes that AAM is awarded 610 axle and propshaft
LT = Lifetime agreement reductions
97-01 = Red action due to GMT 800 capital
* Portions of this Exhibit 10.03 were omitted and filed separately with the
Secretary of the Securities and Exchange Commission (the "Commission")
pursuant to an application for confidential treatment filed with the
Commission pursuant to Rule 406 under the Securities Act of 1933, as
amended. Such portions are marked by the symbol "***".
