STONERIDGE INC
AMENDMENT TO LONG-TERM INCENTIVE PLAN
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<DESCRIPTION>AMENDMENT TO LONG-TERM INCENTIVE PLAN
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 <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2">EXHIBIT 10.1 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">STONERIDGE, INC. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman"
SIZE="2">FIRST AMENDMENT TO LONG-TERM INCENTIVE PLAN </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2">Pursuant
to Section 12 (Amendments and Termination) of the Stoneridge, Inc. Long-Term Incentive Plan (&#147;the Plan&#148;) the Board of Directors of Stoneridge, Inc. on May 12, 2003 amended the Plan as follows: </FONT></P> <P
STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">1.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Section 5(d) was deleted in its entirety and replaced with the following: </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%"><FONT FACE="Times New Roman" SIZE="2">(d)<I> Buyout Provisions</I>. The Committee may at any time buy out for a payment in cash, Shares, Deferred Shares or Restricted Shares an option
previously granted, based on such terms and conditions as the Committee shall establish and agree upon with the participant, provided that no such transaction under this provision (i) is to be made at other than the fair value of the option on the
date of the buyout, or (ii) involving a Section 16 Participant shall be structured or effected in a manner that would violate, or result in any liability on the part of the participant under, Section 16 of the Exchange Act or the rules and
regulations promulgated thereunder. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">2.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">The remainder of the Plan shall remain in full force and effect. </FONT></TD></TR></TABLE>
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