Summary of DOUGLAS DYNAMICS, INC

Item 1.01 Entry into a Material Definitive Agreement.

On November 9, 2012, Douglas Dynamics, Inc. (the "Company") and its subsidiaries, Douglas Dynamics, L.L.C. ("DD LLC"), Douglas Dynamics Finance Company ("DD Finance") and Fisher, LLC (together with DD LLC and DD Finance, the "Borrowers"), entered into a First Amendment (the "Amendment") to the Amended and Restated Credit and Guaranty Agreement (the "Agreement"), dated as of April 18, 2011, among the Company, the Borrowers and the banks and financial institutions listed in the Agreement.

The Amendment increased the aggregate principal amount of the senior secured revolving credit facility under the Agreement by $10.0 million, to a total of $80.0 million, and reduced the amount available under the accordion feature of the Agreement from $40.0 million to $30.0 million. The Amendment also reduced the interest rates payable on borrowings under the Agreement by .50% per annum, and extended the final maturity date of the Agreement by one year, from April 18, 2016 to April 17, 2017.

The preceding summary of the material terms of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.

Item 2.03 Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The description of the Amendment in Item 1.01 of this Current Report on Form 8-K is incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits.

(a) Not applicable.

(b) Not applicable.

(d) Exhibits. The following exhibit is being filed herewith:

(10.1) First Amendment, dated as of November 9, 2012, to the Amended and Restated Credit and Guaranty Agreement, dated as of April 18, 2011, among Douglas Dynamics, L.L.C., Douglas Dynamics Finance Company and Fisher, LLC, as borrowers, Douglas Dynamics, Inc., as guarantor, the banks and financial institutions listed therein, as lenders, J.P. Morgan Securities LLC, as sole bookrunner and sole lead arranger, and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent.