<PAGE>




                     AMENDED EXECUTIVE EMPLOYMENT AGREEMENT


   This Amended Executive Employment Agreement ("Amendment Agreement") is 
entered into as of this 14th day of November, 1996, by and between QUIXOTE 
CORPORATION, a Delaware corporation (the "Company"), and MYRON R. SHAIN, of 
Palos Hills, Illinois (the "Executive").

                                     RECITALS:


          WHEREAS, the Company and Executive are parties to an Executive 
Employment Agreement dated as of June 24, 1991 ("Agreement"); and

          WHEREAS, the parties desire to amend the Agreement to permit 
Executive to accept outside directorships and to serve in such positions for 
or without compensation;

         NOW, THEREFORE, in consideration of the premises and the mutual 
covenants hereinafter contained, the parties agree as follows:

         1.  Section 2 of the Agreement is hereby amended as of the date 
hereof to read as follows:

               2.   POSITION AND DUTIES.   The Executive shall serve as 
Executive Vice President-Finance, Treasurer and Chief Financial Officer of 
the Company with such duties and responsibilities as may from time to time be 
determined by the President with the approval of the Chairman.  During the 
term of this Agreement, the Executive will devote his entire time during 
reasonable business hours to the performance of his duties under this 
Agreement and will not, without the consent of the Board, engage directly or 
indirectly in any other business for compensation or profit.  Notwithstanding 
the above, the Executive may accept outside directorships and serve in such 
positions for or without compensation, and may engage in activities in 
connection with his personal investments, as long as such positions and 
activities do not interfere with the performance of the Executive's duties 
hereunder.

          2.   Except as provided in Section 1, above, there shall be no 
other changes to the Agreement.

<PAGE>

          IN WITNESS WHEREOF, the Company and Executive have executed this 
Amendment Agreement as of the day and year first above written.




QUIXOTE CORPORATION                            MYRON R. SHAIN

By: /s/ Philip E. Rollhaus Jr.                /s/ Myron R. Shain
   ---------------------------                -----------------------
Its: Chairman and Chief Executive 
      Officer


ATTEST:

/s/ Joan R. Riley
-------------------------------

<PAGE>
                            AMENDED EXECUTIVE EMPLOYMENT AGREEMENT


          This Amended Executive Employment Agreement ("Amendment Agreement") 
is entered into as of this 14th day of November, 1996, by and between QUIXOTE 
CORPORATION, a Delaware corporation (the "Company"), and JAMES H. DEVRIES, of 
Winnetka, Illinois (the "Executive").

                                       RECITALS:


          WHEREAS, the Company and Executive are parties to an Executive 
Employment Agreement dated as of June 24, 1991 ("Agreement"); and

          WHEREAS, the parties desire to amend the Agreement to permit 
Executive to accept outside directorships and to serve in such positions for 
or without compensation;

          NOW, THEREFORE, in consideration of the premises and the mutual 
covenants hereinafter contained, the parties agree as follows:

          1.  Section 2 of the Agreement is hereby amended as of the date 
hereof to read as follows:

               2.  POSITION AND DUTIES.   The Executive shall serve as 
Executive Vice President, Secretary and General Counsel of the Company with 
such duties and responsibilities as may from time to time be determined by 
the President with the approval of the Chairman.  During the term of this 
Agreement, the Executive will devote his entire time during reasonable 
business hours to the performance of his duties under this Agreement and will 
not, without the consent of the Board, engage directly or indirectly in any 
other business for compensation or profit.  Notwithstanding the above, the 
Executive may accept outside directorships and serve in such positions for or 
without compensation, and may engage in activities in connection with his 
personal investments, as long as such positions and activities do not 
interfere with the performance of the Executive's duties hereunder.

          2.  Except as provided in Section 1, above, there shall be no other
changes to the Agreement.

<PAGE>



          IN WITNESS WHEREOF, the Company and Executive have executed this
Amendment Agreement as of the day and year first above written.









QUIXOTE CORPORATION                        JAMES H. DEVRIES

By: /s/ Philip E. Rollhaus Jr.            /s/ James H. DeVries
    -----------------------------         --------------------------
Its: Chairman and Chief Executive 
      Officer


ATTEST:

/s/ Joan R. Riley
----------------------

<PAGE>

                           AMENDED EXECUTIVE EMPLOYMENT AGREEMENT


          This Amended Executive Employment Agreement ("Amendment Agreement") 
is entered into as of this 14th day of November, 1996, by and between QUIXOTE 
CORPORATION, a Delaware corporation (the "Company"), and PHILIP E. ROLLHAUS, 
JR., of Chicago, Illinois (the "Executive").

                                       RECITALS:


          WHEREAS, the Company and Executive are parties to an Executive 
Employment Agreement dated as of June 24, 1991 ("Agreement"); and

          WHEREAS, the parties desire to amend the Agreement to permit 
Executive to accept outside directorships and to serve in such positions for 
or without compensation;

          NOW, THEREFORE, in consideration of the premises and the mutual 
covenants hereinafter contained, the parties agree as follows:

          1.  Section 2 of the Agreement is hereby amended as of the date 
hereof to read as follows:

               2.  POSITION AND DUTIES.   The Executive shall serve as 
Chairman and Chief Executive Officer of the Company with such duties and 
responsibilities as may from time to time be determined by the President with 
the approval of the Chairman.  During the term of this Agreement, the 
Executive will devote his entire time during reasonable business hours to the 
performance of his duties under this Agreement and will not, without the 
consent of the Board, engage directly or indirectly in any other business for 
compensation or profit.  Notwithstanding the above, the Executive may accept 
outside directorships and serve in such positions for or without 
compensation, and may engage in activities in connection with his personal 
investments, as long as such positions and activities do not interfere with 
the performance of the Executive's duties hereunder.

          2.  Except as provided in Section 1, above, there shall be no other 
changes to the Agreement.


<PAGE>


          IN WITNESS WHEREOF, the Company and Executive have executed this 
Amendment Agreement as of the day and year first above written.






QUIXOTE CORPORATION                     PHILIP E. ROLLHAUS, Jr.


By: /s/ James H. DeVries                 /s/ Philip E. Rollhaus, Jr.
   --------------------------            ----------------------------
Its: Executive Vice President




ATTEST:

/s/ Joan R. Riley
-----------------------------