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EXHIBIT 10.13
HAWK
[LOGO]
October 1, 1996
Xx. Xxxxxx X. Xxxxxxx,
Xx. Xxxxxx X. Xxxxxxxx,
Xx. Xxxxx X. Xxxxxx,
Xx. Xxxxxxx X. Xxxxxx and
Xx. Xxxxxxx X. Xxxxxx
c/x Xxxx Corporation
000 Xxxxxx Xxxxxx, Xxxxx 00-0000
Xxxxxxxxx, Xxxx 00000-0000
Re: AMENDMENT OF STOCKHOLDER NOTES TO HAWK CORPORATION
Gentlemen:
This letter sets forth the agreement of Hawk Corporation (the
"Corporation," f.k.a. The Hawk Group of Companies, Inc.) to reduce the base rate
of interest set forth in those certain Promissory Notes, each dated June 30,
1995, issued by each of you to the Corporation to the Prime Lending Rate (as
defined in the Credit Agreement among The Hawk Group of Companies, Inc., Various
Banks and Bankers Trust Company, as Agent, dated June 30, 1995), or the
equivalent rate set forth in any successor senior credit facility of the
Corporation, effective as of October 1, 1996.
Sincerely,
HAWK CORPORATION
By: /s/ Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx, Secretary