EXHIBIT 10(a)(7)
AMENDMENT NO. 1 TO
UNSECURED PROMISSORY NOTE
THIS AMENDMENT NO. 1 TO UNSECURED PROMISSORY NOTE (this "Amendment")
entered into as of this 30th day of January 2004, by and between International
Truck & Engine Corporation, a Delaware corporation ("International"), and Core
Molding Technologies, Inc., a Delaware corporation (the "Company").
WITNESSETH:
WHEREAS, the Company previously executed and delivered to International
that certain Unsecured Promissory Note dated as of December 29, 2003, in the
original principal amount of Two Hundred Thousand and 00/100 Dollars
($200,000.00) (the "Note");
NOW, THEREFORE, for good and valuable consideration, the receipt of
which is hereby acknowledged, International and the Company desire to amend the
Note and hereby agree as follows:
1. Each reference to "Noteholder" in Section 3. MISCELLANEOUS of
the Note shall be stricken and replaced with "International" and any reference
to "his" in such Section 3 shall be stricken and replaced with "it. "
2. A new Section 4. PERFORMANCE OF OBLIGATIONS shall be added to
the Note and shall read as follows:
4. PERFORMANCE OF OBLIGATIONS.
The outstanding principal and interest of this Note will be
forgiven by International, provided the Company achieves earnings
before interest and taxes of $3,981,000.00 for the period January 1,
2004 to December 31, 2004.
3. The Company hereby ratifies and confirms the Note, as amended
hereby, in all respects, and, as amended hereby, the terms thereof shall remain
in full force and effect. This Amendment may be attached to and shall form a
part of the Note for all purposes. This Amendment may be executed in two or more
counterparts, each of which shall be deemed to be an original, but all of which
together shall constitute one and the same instrument
IN WITNESS WHEREOF, this instrument is executed as of the day and year
first above written.
Core Molding Technologies, Inc.
By: /s/ Xxxxxx X. Xxxx Xx.
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Xxxxxx X. Xxxx, Xx.
Treasurer and CFO
International Truck & Engine Corp.
By: /s/ X.X. Xxxxxxx
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Xxxxx Xxxxxxx
Vice President and Treasurer
