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                                                                     EXHIBIT 4.4

                             M-TRON INDUSTRIES, INC.

                          EXCLUDED HOLDER TRANSFER FORM



IMPORTANT: The number of Rights that may be transferred by the person whose
name appears on the label affixed to this form is the number indicated in the
top right-hand corner of the label.

THIS FORM SHOULD BE USED TO TRANSFER YOUR SUBSCRIPTION CERTIFICATE OR SOME OR
ALL OF YOUR RIGHTS.

For value received, ___ Rights to purchase shares of Class A common stock of
M-tron Industries, Inc. represented by Subscription Certificate No. ___
issued in the name of the undersigned and held by American Stock Transfer &
Trust Company for the account of the undersigned are hereby assigned to
(please print name, address to which a new subscription certificate should be
delivered and Social Security No. or Taxpayer ID No. of transferee in full):

Name:...........................................................................

Address:........................................................................

 ................................................................................

 ................................................................................

 ................................................................................
         Social Security No. or Taxpayer ID No.


PROVIDE GUARANTEE OF SIGNATURE(S) BELOW.


                                    IMPORTANT
                             RIGHTS HOLDER SIGN HERE

              .......................................................

              .......................................................
                           (Signature(s) of Holder(s))


              Dated ............................................, 2000


(Must be signed by the Rights holder(s) exactly as name(s) appear(s) on the
certificate(s) representing shares of common stock of Lynch Corporation as to
which the Rights have been distributed. If signature is by trustee(s),
executor(s), administrator(s), guardian(s), attorney(s), in-fact agent(s),
officer(s) of a corporation or another acting in a fiduciary or
representative capacity, please provide the following information. See
instructions.)

Name(s).........................................................................

 ................................................................................
                                 (Please Print)

Capacity........................................................................

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Address.........................................................................

 ................................................................................
                              (Including Zip Code)

Area Code and Telephone
Number..........................................................................
                                     (Home)

 ................................................................................
                                   (Business)

Tax Identification or Social Security No. ......................................
                                             (Complete Substitute Form W-9)



                            GUARANTEE OF SIGNATURE(S)

Authorized Signature............................................................

Name of Firm....................................................................
                                 (Please Print)

Capacity (full title)...........................................................
                                 (Please Print)

Address.........................................................................
                               (Include Zip Code)

Area Code and Telephone Number..................................................

Dated......................................................, 2000