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                                                                     EXHIBIT 4.9

THIS WARRANT AND THE SHARES OF COMMON STOCK PURCHASABLE HEREUNDER HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933 OR ANY STATE SECURITIES LAWS AND MAY
NOT BE SOLD OR OFFERED FOR SALE UNLESS REGISTERED UNDER SAID ACT AND ANY
APPLICABLE STATE SECURITIES LAWS OR UNLESS AN EXEMPTION FROM SUCH REGISTRATION
IS AVAILABLE. THIS WARRANT AND THE SHARES OF VOTING COMMON STOCK PURCHASABLE
HEREUNDER ARE SUBJECT TO AND HAVE THE BENEFIT OF (1) AN AMENDED AND RESTATED
STOCKHOLDER AGREEMENT DATED AS OF THE DATE HEREOF, AMONG MCE COMPANIES, INC. AND
THE STOCKHOLDERS LISTED ON THE SIGNATURE PAGES THEREOF, WHICH CONTAINS CERTAIN
RESTRICTIONS ON TRANSFER, AND (2) A REGISTRATION RIGHTS AGREEMENT, DATED AS OF
THE DATE HEREOF, AMONG MCE COMPANIES, INC. AND THE STOCKHOLDERS AND
WARRANTHOLDERS LISTED ON THE SIGNATURE PAGES THEREOF, A COPY OF WHICH IS ON FILE
WITH MCE COMPANIES, INC.

                                                           Dated:  July 28, 1999

                                     WARRANT

     To Purchase 4,726.80 Shares of Common Stock, without par value plus any
               Additional Exercise Amount (as hereinafter defined)
                             provided for herein of

                               MCE COMPANIES, INC.

            Expiring on the earlier of (i) July 28, 2009 or (ii) the
date  which is six years  after the date on which the  Company's  8%  Promissory
Notes due July 28, 2004 in the aggregate principal amount of $4,000,000 shall be
paid in full

                  THIS IS TO CERTIFY THAT, for value received, ROCKY MOUNTAIN
MEZZANINE FUND II, L.P., a Colorado limited partnership, or registered assigns
("Holder") is entitled to purchase from MCE COMPANIES, INC., a Michigan
corporation (together with its successors, the "Company"), at any time or from
time to time after 9:00 a.m., Cleveland, Ohio time, on and after the earlier of
(a) the date on which a Triggering Event (as hereinafter defined) shall occur or
(b) July 28, 2004, and prior to 5:00 p.m., Cleveland, Ohio time, and on the
earlier of (i) July 28, 2009, (ii) the date which is six years after the date on
which the Company's 8% Promissory Notes due July 28, 2004 in the aggregate
principal amount of $4,000,000 shall be paid in full or (iii) the Business Day
preceding the date of redemption of this Warrant, at the place where the Warrant
Agency is located, at the Exercise Price, the number of shares of Common

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Stock, without par value per share (the "Common Stock") of the Company
shown above, all subject to adjustment and upon the terms and conditions
hereinafter provided, and is entitled also to exercise the other appurtenant
rights, powers and privileges hereinafter described.

                  This Warrant is one of one or more warrants (the "Warrants")
of the same form and having similar terms, entitling the holders initially to
purchase up to an aggregate of 13,130 shares of Common Stock (the "Original
Exercise Amount"), as the number of shares of Common Stock subject to the
Warrants that are to be issued upon the exercise of the Warrants may be
increased as provided in Section 5.5 of this Warrant (the "Additional Exercise
Amount"). The Warrants have been issued pursuant to the Senior Subordinated Note
and Warrant Purchase Agreement dated as of July 28, 1999 (as amended from time
to time, the "Purchase Agreement") among the Company and the purchasers listed
on the signature pages thereof, and the Holder is entitled to certain benefits
and is subject to certain obligations as set forth therein and to certain
benefits and certain obligations described in the Stockholder Agreement and the
Registration Rights Agreement (as those terms are hereinafter defined). The
Company shall keep copies of the Purchase Agreement, the Stockholder Agreement,
and the Registration Rights Agreement, and any amendments thereto, at the
Warrant Agency and shall furnish, without charge, copies thereof to the Holder
upon request.

         Certain terms used in this Warrant are defined in Article VII.

                                    ARTICLE I

                              EXERCISE OF WARRANTS

                  1.1. Method of Exercise. To exercise this Warrant in whole or
in part, the Holder shall deliver on any Business Day to the Company at the
Warrant Agency, (a) this Warrant, (b) a written notice of such Holder's election
to exercise this Warrant, which notice shall specify the number of shares of
Common Stock to be purchased (which shall be a minimum of 10 whole shares if for
less than all the shares then issuable hereunder), the denominations of the
share certificate or certificates desired and the name or names in which such
certificates are to be registered, and (c) payment of the Exercise Price with
respect to such shares. Such payment may be made, at the option of the Holder,
either (a) by cash, certified or bank cashier's check or wire transfer in an
amount equal to the product of (i) the Exercise Price times (ii) the number of
Warrant Shares as to which this Warrant is being exercised or (b) at any time on
or after the date of consummation of the initial public offering of the Common
Stock by receiving from the Company the number of Warrant Shares equal to (i)
the number of Warrant Shares as to which this Warrant is being exercised minus
(ii) the number of Warrant Shares having a value, based on (x) on the date of
consummation of the initial public offering of the Common Stock, the public
offering price thereof and (y) thereafter the Closing Price on the trading day
immediately prior to the date of such exercise, equal to the product of (x)

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the Exercise Price times (y) the number of Warrant Shares as to which
this Warrant is being exercised.

                  The Company shall, as promptly as practicable and in any event
within seven days after receipt of such notice and payment, execute and deliver
or cause to be executed and delivered, in accordance with such notice, a
certificate or certificates representing the aggregate number of shares of
Common Stock specified in said notice together with cash in lieu of any
fractions of a share as provided in Section 1.3. The share certificate or
certificates so delivered shall be in such denominations as may be specified in
such notice, and shall be issued in the name of the Holder or such other name or
names as shall be designated in such notice. This Warrant shall be deemed to
have been exercised and such certificate or certificates shall be deemed to have
been issued, and such Holder or any other Person so designated to be named
therein shall be deemed for all purposes to have become a holder of record of
shares, as of the date the aforementioned notice and payment is received by the
Company. If this Warrant shall have been exercised only in part, the Company
shall, at the time of delivery of such certificate or certificates, deliver to
the Holder a new Warrant evidencing the rights to purchase the remaining shares
of Common Stock called for by this Warrant, which new Warrant shall in all other
respects be identical with this Warrant, or, at the request of the Holder,
appropriate notation may be made on this Warrant which shall then be returned to
the Holder. The Company shall pay all expenses, taxes and other charges payable
in connection with the preparation, issuance and delivery of share certificates
and new Warrants, except that, if share certificates or new Warrants shall be
registered in a name or names other than the name of the Holder, funds
sufficient to pay all transfer taxes payable as a result of such transfer shall
be paid by the Holder at the time of delivery of the aforementioned notice of
exercise or promptly upon receipt of a written request of the Company for
payment.

                  1.2. Shares to be Fully Paid and Nonassessable. All shares of
Common Stock issued upon the exercise of this Warrant shall be validly issued,
fully paid and nonassessable and, if such class of Common Stock is then listed
on any national securities exchange (as defined in the Exchange Act) or quoted
on NASDAQ, shall be duly listed or quoted thereon, as the case may be.

                  1.3. No Fractional Shares Required to be Issued. The Company
shall not be required to issue fractions of shares of Common Stock upon exercise
of this Warrant. If any fraction of a share would, but for this Section, be
issuable upon final exercise of this Warrant, in lieu of such fractional share
the Company may, at its option, pay to the Holder, in cash, an amount equal to
the same fraction of the Fair Market Value of the Company per share of
outstanding Common Stock on the Business Day immediately prior to the date of
such exercise.

                  1.4. Share Legend. Each certificate for shares of Common Stock
issued upon exercise of this Warrant, unless at the time of exercise such shares
are registered under the Securities Act, shall bear the following legend:

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                  "This security has not been registered under the Securities
                  Act of 1933 and may not be sold or offered for sale unless
                  registered under said Act and any applicable state securities
                  laws or unless an exemption from such registration is
                  available."

In addition, each such certificate shall bear the legend set forth in Section 6
of the Stockholder Agreement.

                  Any certificate issued at any time in exchange or substitution
for any certificate bearing such legend (except a new certificate issued upon
completion of a public offering pursuant to a registration statement under the
Securities Act) shall also bear such legend unless, in the opinion of counsel
selected by the holder of such certificate (who may be an employee of such
holder) and reasonably acceptable to the Company, the securities represented
thereby need no longer be subject to restrictions on resale under the Securities
Act.

                  1.5. Reservation. The Company has duly reserved and will keep
available for issuance upon exercise of the Warrants the total number of Warrant
Shares deliverable from time to time upon exercise of all Warrants from time to
time outstanding and the total number of shares of Common Stock deliverable upon
conversion of such Warrant Shares to Common Stock.

                                   ARTICLE II

                     WARRANT AGENCY; TRANSFER, EXCHANGE AND
                             REPLACEMENT OF WARRANTS

                  2.1. Warrant Agency. As long as any of the Warrants remain
outstanding, the Company shall perform the obligations of and be the warrant
agency with respect to the Warrants (the "Warrant Agency") at its address set
forth in the Credit Agreement or at such other address as the Company shall
specify by notice to all Warrantholders.

                  2.2. Ownership of Warrant. The Company may deem and treat the
person in whose name this Warrant is registered as the holder and owner hereof
(notwithstanding any notations of ownership or writing hereon made by any person
other than the Company) for all purposes and shall not be affected by any notice
to the contrary, until due presentment of this Warrant for registration of
transfer as provided in this Article II.

                  2.3. Registration of Warrants. The Company agrees to maintain
at the Warrant Agency books for the registration of transfers of the Warrants,
and any transfer of this Warrant and all rights hereunder pursuant to and in
accordance with Section 2.7 below shall be registered, in whole or in part, on
such books, upon surrender of this Warrant at the Warrant Agency, together with
a written assignment of this Warrant duly

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executed by the Holder or its duly authorized agent or attorney, with (if the
Holder is a natural person) signatures guaranteed by a bank or trust company or
a broker or dealer registered with the NASD, and funds sufficient to pay any
transfer taxes payable upon such transfer. Upon surrender and, if required, such
payment, the Company shall execute and deliver a new Warrant or Warrants in the
name of the assignee or assignees and in the denominations specified in the
instrument of assignment (which shall be whole numbers of shares only) and shall
issue to the assignor a new Warrant evidencing the portion of this Warrant not
so assigned, and this Warrant shall promptly be canceled.

                  2.4. Division or Combination of Warrants. This Warrant may be
divided or combined with other Warrants held by the Holder upon presentment
hereof and of any Warrant or Warrants with which this Warrant is to be combined
at the Warrant Agency, together with a written notice specifying the names and
denominations (which shall be whole numbers of shares only) in which the new
Warrant or Warrants are to be issued, signed by the Holder hereof or its
respective duly authorized agents or attorneys. Subject to compliance with
Sections 2.3 and 2.7 as to any transfer or assignment which may be involved in
the division or combination, the Company shall execute and deliver a new Warrant
or Warrants in exchange for the Warrant or Warrants to be divided or combined in
accordance with such notice.

                  2.5. Loss, Theft, Destruction of Warrant Certificates. Upon
receipt of evidence satisfactory to the Company of the ownership of and the
loss, theft, destruction or mutilation of any Warrant and, in the case of any
such loss, theft or destruction, upon receipt of indemnity or security
satisfactory to the Company (it being understood and agreed that if the holder
of such Warrant is the Purchaser, then a written agreement of indemnity given by
the Purchaser alone shall be satisfactory to the Company and no further security
shall be required) or, in the case of any such mutilation, upon surrender and
cancellation of such Warrant, the Company will make and deliver, in lieu of such
lost, stolen, destroyed or mutilated Warrant, a new Warrant of like tenor and
representing the right to purchase the same aggregate number of shares of Common
Stock.

                  2.6. Expenses of Delivery of Warrants. The Company shall pay
all expenses, taxes (other than transfer taxes) and other charges payable in
connection with the preparation, issuance and delivery of Warrants hereunder.

                  2.7. Restrictions on Transfer.

                  (a) General Restriction. The Warrants shall be transferable
only upon satisfaction of the conditions set forth in this Section 2.7 and any
applicable provisions of the Stockholder Agreement.

                  (b) Transfer Notice; Opinion. Prior to any transfer of any
Warrants, the transferor thereof shall deliver (i) if reasonably determined by
the Company to be necessary with respect to such transfer, an opinion addressed
to the Company of counsel nominated by the transferor and reasonably acceptable
to the Company (which may be in-house counsel for a Purchaser), that such
transfer may be effected without registration of such Warrants under the
Securities Act, and (ii) the written agreement of the proposed

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transferee to be bound by all of the provisions of the Stockholder Agreement and
the Registration Rights Agreement.

                                   ARTICLE III

                                 CERTAIN RIGHTS

                  3.1. Rights and Obligations under the Stockholder Agreement
and the Registration Rights Agreement. This Warrant is entitled to the benefits
and subject to the terms of each of the Stockholder Agreement dated as of July
23, 1996, among the Company and the Stockholders listed on the signature pages
thereof, as amended, modified or supplemented from time to time, and the
Registration Rights Agreement dated as of the date hereof, among the Company and
the stockholders and/or warrantholders listed on the signature pages thereof, as
amended, modified or supplemented from time to time (the "Stockholder
Agreement," and the "Registration Rights Agreement," respectively).

                  3.2. Board Meetings. The Company will hold at least four
regular meetings of the Board of Directors of the Company during each calendar
year at such times and places (or via telephone conference) as shall be
determined from time to time by the Board of Directors. The Company shall give
to the Holder notice of all meetings and actions by written consent of the Board
of Directors of the Company and each committee thereof, at the same time and in
the same manner as notice of any meetings of such board or committees is
required to be given to directors who do not waive such notice (or, if such
action requires no notice, then 10 days written notice thereof describing the
matters upon which action is to be taken). So long as the purchasers (or their
respective successor or assigns) under the Senior Subordinated Note and Warrant
Purchase Agreement, dated July 23, 1996, as amended, modified or supplemented
from time to time, among the Company, National City Capital Corporation and
Hanifen Imhoff Mezzanine Fund, L.P. (the "1996 Agreement") have the right to
send two representatives selected by them to each such meeting, Holder shall
have no additional rights to send representatives selected by it to such
meetings. If, however, such rights are no longer in full force and effect under
the 1996 Agreement, then the Holders of the Warrants shall have the right to
send two representatives selected by them to each such meeting, who shall be
permitted to attend, at the expense of the Company, such meeting and any
adjournments thereof, provided that in no event shall the holders of the
Securities be entitled to send more than two representatives in the aggregate
(in addition to the number of Directors to which the Purchasers are entitled)
pursuant to the terms of this Agreement, the Warrants or the Stockholder
Agreement.

                  3.3 Financial Statements and Other Information. The Company
will, and will cause its Subsidiaries to, deliver to any Holder:

                  (a) as soon as practicable and in any event within 30 days
after the end of each fiscal quarter, a consolidated and consolidating balance
sheet of the Company and

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its Subsidiaries as at the end of such fiscal quarter and the related statements
of operations and cash flows for such fiscal quarter and for the portion of the
fiscal year ended at the end of such fiscal quarter, setting forth in each case
in comparative form the revenues and the other figures for the corresponding
periods of the previous fiscal year, all in reasonable detail and certified by
the chief financial officer of the Company as fairly presenting the financial
condition and results of operations of the Company and as having been prepared
in accordance with generally accepted accounting principles applied on a basis
consistent with the audited financial statements of the Company, subject to
changes resulting from audit and normal year-end adjustments;

                  (b) as soon as available and in any event within 90 days after
the end of each fiscal year, a balance sheet of the Company and its Subsidiaries
as of the end of such fiscal year and the related consolidated statements of
operations, stockholders' equity and cash flows for such fiscal year, setting
forth in each case in comparative form the revenues and the other figures for
the previous fiscal year, certified by Ernst & Young LLP, or other independent
public accountants of nationally recognized standing;

                  (c) promptly following the filing thereof with the Department
of Consumer and Industry Services of the State of Michigan, a copy of each
amendment to, or restatement of, the Articles of Incorporation of the Company,
and promptly following the adoption thereof by the Company, a copy of each
amendment to, or restatement of, the By-laws of the Company;

                  (d) as promptly as practicable following each meeting of the
board of directors of the Company, a copy of the minutes of such meeting, and
promptly following the execution by all of the directors on the board of
directors of the Company, a copy of each unanimous written consent of directors
in lieu of a meeting of the board of directors of the Company, in each case,
including all exhibits and attachments, if any, to such minutes or unanimous
written consents; and

                  (e) with reasonable promptness, such other information and
data with respect to the Company or any of its Subsidiaries as from time to time
may be reasonably requested by such Warrantholders holding the Required
Interest.

                                   ARTICLE IV

                             ANTIDILUTION PROVISIONS

                  4.1. Adjustment Generally. The Exercise Price and the number
of shares of Common Stock (or other securities or property) issuable upon
exercise of this Warrant shall be subject to adjustment from time to time upon
the occurrence of certain events as provided in this Article IV; provided, that
the Exercise Price and the number of shares of Common Stock issuable upon
exercise of this Warrant shall not be adjusted pursuant to this Article IV with
respect to the exercise of the Management Options.

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                  4.2. Common Stock Reorganization. If the Company shall
subdivide its outstanding shares of Common Stock (or any class thereof) into a
greater number of shares or consolidate its outstanding shares of Common Stock
(or any class thereof) into a smaller number of shares (any such event being
called a "Common Stock Reorganization"), then (a) the Exercise Price shall be
adjusted, effective immediately after the effective date of such Common Stock
Reorganization, to a price determined by multiplying the Exercise Price in
effect immediately prior to such effective date by a fraction, the numerator of
which shall be the number of shares of Common Stock outstanding on such
effective date before giving effect to such Common Stock Reorganization and the
denominator of which shall be the number of shares of Common Stock outstanding
after giving effect to such Common Stock Reorganization, and (b) the number of
shares of Common Stock subject to purchase upon exercise of this Warrant shall
be adjusted, effective at such time, to a number determined by multiplying the
number of shares of Common Stock subject to purchase immediately before such
Common Stock Reorganization by a fraction, the numerator of which shall be the
number of shares of Common Stock outstanding after giving effect to such Common
Stock Reorganization and the denominator of which shall be the number of shares
of Common Stock outstanding immediately before such Common Stock Reorganization.

                  4.3. Common Stock Distribution. (a) If the Company shall
issue, sell or otherwise distribute any shares of Common Stock, other than
pursuant to a Common Stock Reorganization (which is governed by Section 4.2
hereof) (any such event, including any event described in paragraphs (b) and (c)
below, being herein called a "Common Stock Distribution"), for a consideration
per share less than the Exercise Price then in effect or less than the Fair
Market Value of the Company per share of outstanding Common Stock on a Fully
Diluted Basis on the date of such Common Stock Distribution (before giving
effect to such Common Stock Distribution), then, effective upon such Common
Stock Distribution, the Exercise Price shall be reduced, if such consideration
per share shall be less then the Exercise Price then in effect but not less than
such Fair Market Value per share, to the lower of the prices (calculated to the
nearest one-thousandth of one cent) determined as provided in clauses (i) and
(ii) below or, if such consideration per share shall be less than such Fair
Market Value per share, to the lowest of the prices (calculated to the nearest
one-thousandth of one cent) determined as provided in clauses (i), (ii) and
(iii) below:

                  (i) if the Company shall receive any consideration for the
         Common Stock issued, sold or distributed in such Common Stock
         Distribution, the consideration per share of Common Stock received by
         the Company upon such issue, sale or distribution;

                  (ii) by dividing (A) an amount equal to the sum of (1) the
         number of shares of Common Stock outstanding immediately prior to such
         Common Stock Distribution multiplied by the then existing Exercise
         Price, plus (2) the consideration, if any, received by the Company upon
         such Common Stock Distribution by (B) the total number of shares of
         Common Stock outstanding immediately after such Common Stock
         Distribution; and

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                  (iii) by multiplying the Exercise Price in effect immediately
         prior to such Common Stock Distribution by a fraction, the numerator of
         which shall be the sum of (A) the number of shares of Common Stock
         outstanding immediately prior to such Common Stock Distribution
         multiplied by such Fair Market Value per share on the date of such
         Common Stock Distribution, plus (B) the consideration, if any, received
         by the Company upon such Common Stock Distribution, and the denominator
         of which shall be the product of (1) the total number of shares of
         Common Stock outstanding immediately after such Common Stock
         Distribution multiplied by (2) such Fair Market Value per share on the
         date of such Common Stock Distribution.

                  If any Common Stock Distribution shall require an adjustment
to the Exercise Price pursuant to the foregoing provisions of this paragraph
(a), including by operation of paragraph (b) or (c) below, then, effective at
the time such adjustment is made, the number of shares of Common Stock subject
to purchase upon exercise of this Warrant shall be increased to a number
determined by multiplying the number of shares of Common Stock subject to
purchase immediately before such Common Stock Distribution by a fraction, the
numerator of which shall be the number of shares of Common Stock outstanding
immediately after giving effect to such Common Stock Distribution and the
denominator of which shall be the sum of the number of shares of Common Stock
outstanding immediately before giving effect to such Common Stock Distribution
(both calculated on a Fully Diluted Basis) plus the number of shares of Common
Stock which the aggregate consideration received by the Company with respect to
such Common Stock Distribution would purchase at the Fair Market Value of the
Company per share of outstanding Common Stock on a Fully Diluted Basis on the
date of such Common Stock Distribution (before giving effect to such Common
Stock Distribution). In computing adjustments under this paragraph, fractional
interests in Common Stock shall be taken into account to the nearest
one-thousandth of a share.

                  The provisions of this paragraph (a), including by operation
of paragraph (b) or (c) below, shall not operate to increase the Exercise Price
or reduce the number of shares of Common Stock subject to purchase upon exercise
of this Warrant.

                  (b) If the Company shall issue, sell, distribute or otherwise
grant in any manner (including by assumption) any rights to subscribe for or to
purchase, or any warrants or options for the purchase of Common Stock or any
stock or securities convertible into or exchangeable for Common Stock (such
rights, warrants or options being herein called "Options" and such convertible
or exchangeable stock or securities being herein called "Convertible
Securities"), whether or not such Options or the rights to convert or exchange
any such Convertible Securities in respect of such Options are immediately
exercisable, and the price per share for which Common Stock is issuable upon the
exercise of such Options or upon conversion or exchange of such Convertible
Securities in respect of such Options (determined by dividing (i) the aggregate
amount, if any, received or receivable by the Company as consideration for the
granting of such Options, plus the minimum aggregate amount of additional
consideration payable to the Company upon the exercise of all such Options,
plus, in the case of Options to acquire Convertible Securities, the minimum
aggregate amount of additional consideration, if

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any, payable upon the issuance or sale of such Convertible Securities and upon
the conversion or exchange thereof, by (ii) the total maximum number of shares
of Common Stock issuable upon the exercise of such Options or upon the
conversion or exchange of all such Convertible Securities issuable upon the
exercise of such Options) shall be less than the Exercise Price then in effect
or less than the Fair Market Value of the Company per share of outstanding
Common Stock on a Fully Diluted Basis on the date of granting such Options
(before giving effect to such grant), then, for purposes of paragraph (a) above,
the total maximum number of shares of Common Stock issuable upon the exercise of
such Options or upon conversion or exchange of the total maximum amount of such
Convertible Securities issuable upon the exercise of such Options shall be
deemed to have been issued as of the date of granting of such Options and
thereafter shall be deemed to be outstanding and the Company shall be deemed to
have received as consideration of such price per share, determined as provided
above, therefor. Except as otherwise provided in paragraph (d) below, no
additional adjustment of the Exercise Price shall be made upon the actual
exercise of such Options or upon conversion or exchange of such Convertible
Securities.

                  (c) If the Company shall issue, sell or otherwise distribute
(including by assumption) any Convertible Securities, whether or not the rights
to exchange or convert thereunder are immediately exercisable, and the price per
share for which Common Stock is issuable upon such conversion or exchange
(determined by dividing (i) the aggregate amount received or receivable by the
Company as consideration for the issuance, sale or distribution of such
Convertible Securities, plus the minimum aggregate amount of additional
consideration, if any, payable to the Company upon the conversion or exchange
thereof, by (ii) the total maximum number of shares of Common Stock issuable
upon the conversion or exchange of all such Convertible Securities) shall be
less than the Exercise Price then in effect or less than the Fair Market Value
of the Company per share of outstanding Common Stock on a Fully Diluted Basis on
the date of such issuance, sale or distribution (before giving effect to such
issuance, sale or distribution), then, for purposes of paragraph (a) above, the
total maximum number of shares of Common Stock issuable upon conversion or
exchange of all such Convertible Securities shall be deemed to have been issued
as of the date of the issuance, sale or distribution of such Convertible
Securities and thereafter shall be deemed to be outstanding and the Company
shall be deemed to have received as consideration such price per share,
determined as provided above, therefor. Except as otherwise provided in
paragraph (d) below, no additional adjustment of the Exercise Price shall be
made upon the actual conversion or exchange of such Convertible Securities.

                  (d) If (i) the purchase price provided for in any Option
referred to in paragraph (b) above or the additional consideration, if any,
payable upon the conversion or exchange of any Convertible Securities referred
to in paragraph (b) or (c) above or the rate at which any Convertible Securities
referred to in paragraph (b) or (c) above are convertible into or exchangeable
for Common Stock shall change at any time (other than under or by reason of
provisions designed to protect against dilution upon an event which results in a
related adjustment pursuant to this Article IV), or (ii) any of such Options or
Convertible Securities shall have terminated, lapsed or expired, the Exercise
Price then in effect shall forthwith be readjusted to the Exercise Price which
would then be in effect,

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and the number of shares of Common Stock then subject to purchase upon exercise
of the Warrant shall be readjusted to the number of shares of Common Stock which
would then be subject to purchase upon exercise of this Warrant (in each case
effective only with respect to any exercise of this Warrant after such
readjustment), had the adjustment made upon the issuance, sale, distribution or
grant of such Options or Convertible Securities been made based upon such
changed purchase price, additional consideration or conversion rate, as the case
may be (in the case of any event referred to in clause (i) of this paragraph
(d)) or had such adjustment not been made (in the case of any event referred to
in clause (ii) of this paragraph (d)).

                  (e) If the Company shall pay a dividend or make any other
distribution upon any capital stock of the Company payable in Common Stock,
Options or Convertible Securities, then, for purposes of paragraph (a) above,
such Common Stock, Options or Convertible Securities shall be deemed to have
been issued or sold without consideration.

                  (f) If any shares of Common Stock, Options or Convertible
Securities shall be issued, sold or distributed for cash, the consideration
received therefor shall be deemed to be the gross amount received by the Company
therefor. If any shares of Common Stock, Options or Convertible Securities shall
be issued sold or distributed for a consideration other than cash, the amount of
the consideration other than cash received by the Company shall be deemed to be
the Fair Market Value of such consideration, after deduction of any expenses
incurred in connection therewith. If any shares of Common Stock, Options or
Convertible Securities shall be issued in connection with any merger in which
the Company is the surviving corporation, the amount of consideration therefor
shall be deemed to be the Fair Market Value of such portion of the assets and
business of the non-surviving corporation as shall be attributable to such
Common Stock, Options or Convertible Securities, as the case may be. If any
Options shall be issued in connection with the issuance and sale of other
securities of the Company, together comprising one integral transaction in which
no specific consideration is allocated to such Options by the parties thereto,
such Options shall be deemed to have been issued without consideration.

                  4.4. Special Dividends. If the Company shall issue or
distribute to any holder or holders of shares of Common Stock evidences of
indebtedness, any other securities of the Company or any cash, property or other
assets (excluding a Common Stock Reorganization or a Common Stock Distribution),
whether or not accompanied by a purchase, redemption or other acquisition of
shares of Common Stock (any such nonexcluded event being herein called a
"Special Dividend"), (a) the Exercise Price shall be decreased, effective
immediately after the effective date of such Special Dividend, to a price
determined by multiplying the Exercise Price then in effect by a fraction, the
numerator of which shall be the Fair Market Value of the Company per share of
outstanding Common Stock as of such effective date less any cash and the then
Fair Market Value of any evidences of indebtedness, securities or property or
other assets issued or distributed in such Special Dividend with respect to one
share of Common Stock, and the denominator of which shall be such Fair Market
Value per share and (b) the number of shares of Common Stock subject to purchase
upon exercise of this Warrant shall be increased to a number determined by
multiplying the number of shares of

                                       11
<PAGE>   12

Common Stock subject to purchase immediately before such Special Dividend by a
fraction, the numerator of which shall be the Exercise Price in effect
immediately before such Special Dividend and the denominator of which shall be
the Exercise Price in effect immediately after such Special Dividend. A
reclassification of Common Stock (other than a change in par value, or from par
value to no par value or from no par value to par value) into shares of Common
Stock and shares of any other class of stock shall be deemed a distribution by
the Company to the holders of such Common Stock of such shares of such other
class of stock and, if the outstanding shares of Common Stock shall be changed
into a larger or smaller number of shares of Common Stock as part of such
reclassification, a Common Stock Reorganization.

                  4.5. Capital Reorganizations. If there shall be any
consolidation or merger to which the Company is a party, other than a
consolidation or a merger of which the Company is the continuing corporation and
which does not result in any reclassification of, or change (other than a Common
Stock Reorganization) in, outstanding shares of Common Stock, or any sale or
conveyance of the property of the Company as an entirety or substantially as an
entirety, or any recapitalization of the Company (any such event being called a
"Capital Reorganization"), then, effective upon the effective date of such
Capital Reorganization, the Holder shall no longer have the right to purchase
Common Stock, but shall have instead the right to purchase, upon exercise of
this Warrant, the kind and amount of shares of stock and other securities and
property (including cash) which the Holder would have owned or have been
entitled to receive pursuant to such Capital Reorganization if this Warrant had
been exercised immediately prior to the effective date of such Capital
Reorganization. As a condition to effecting any Capital Reorganization, the
Company or the successor or surviving corporation, as the case may be, shall
execute and deliver to each Warrantholder and to the Warrant Agency an agreement
as to the Warrantholders' rights in accordance with this Section 4.5, providing,
to the extent of any right to purchase equity securities hereunder, for
subsequent adjustments as nearly equivalent as may be practicable to the
adjustments provided for in this Article IV. The provisions of this Section 4.5
shall similarly apply to successive Capital Reorganizations.

                  4.6. Adjustment Rules. Any adjustments pursuant to this
Article IV shall be made successively whenever an event referred to herein shall
occur, except that, notwithstanding any other provision of this Article IV, no
adjustment shall be made to the number of shares of Common Stock to be delivered
to each Holder (or to the Exercise Price) if such adjustment represents less
than one percent (1%) of the number of shares previously required to be so
delivered, but any lesser adjustment shall be carried forward and shall be made
at the time and together with the next subsequent adjustment which together with
any adjustments so carried forward shall amount to one percent (1%) or more of
the number of shares to be so delivered. No adjustment shall be made pursuant to
this Article IV in respect of the issuance from time to time of shares of Common
Stock upon the exercise of any of the Warrants. If the Company shall take a
record of the holders of its Common Stock for any purpose referred to in this
Article IV, then (i) such record date shall be deemed to be the date of the
issuance, sale, distribution or grant in question and (ii) if the Company shall
legally abandon such action prior to effecting such action, no adjustment shall
be made pursuant to this Article IV in respect of such action.

                                       12
<PAGE>   13

                  4.7. Proceedings Prior to Any Action Requiring Adjustment. As
a condition precedent to the taking of any action which would require an
adjustment pursuant to this Article IV, the Company shall take any action which
may be necessary, including obtaining regulatory approvals or exemptions, in
order that the Company may thereafter validly and legally issue as fully paid
and nonassessable all shares of Common Stock which the holders of Warrants are
entitled to receive upon exercise thereof.

                  4.8. Notice of Adjustment. Not less than 10 nor more than 30
days prior to the record date or effective date, as the case may be, of any
action which requires or might require an adjustment or readjustment pursuant to
this Article IV, the Company shall give notice to each Warrantholder of such
event, describing such event in reasonable detail and specifying the record date
or effective date, as the case may be, and, if determinable, the required
adjustment and the computation thereof. If the required adjustment is not
determinable at the time of such notice, the Company shall give notice to each
Warrantholder of such adjustment and computation promptly after such adjustment
becomes determinable.

                                    ARTICLE V

                PURCHASE OF WARRANTS; INCREASE OF WARRANT SHARES

                  5.1. Purchase of Warrants by the Company. The Company shall
have the obligation to purchase or otherwise acquire Warrants at such times, in
such manner and for such consideration as set forth below.

                  5.2. Put Rights.  The Holder shall:

                  (a) at any time and from time to time on or after the date on
which a Triggering Event shall occur, have the right (the "Put Right") to sell
back to the Company its Warrant Shares at the greater of (i) the Fair Market
Value of all such Warrant Shares or (ii) the cash amount determined by
application of the following formula:

                  [(EBITDA times 5) - Term Debt - Minimum Revolving Debt -
                  Preferred Stock + Cash] times Applicable Percentage

                  (b) Within thirty (30) days of the Company's receipt of
notification from the Holder that it wishes to exercise its Put Right (the "Put
Notification"), the Company shall repurchase such number of Warrant Shares then
held by the Holder as shall be specified in the Put Notification (the
"Repurchase Date"). The repurchase price for each Share (the "Repurchase Price")
shall be paid in cash on the Repurchase Date or, at the option of the Holder, in
the form of an unsecured promissory note in form reasonably satisfactory to the
Holder maturing in one year and bearing interest at the rate of eight percent
(8%) per annum].

                                       13
<PAGE>   14

                  (c) Surrender the certificate(s) representing Warrant Shares
being repurchased to the Company and thereupon the Repurchase Price for such
Warrant Shares shall be paid to the order of the person whose name appears on
such certificate(s) and each surrendered certificate shall be canceled and
retired.

                  5.3. Termination of Put Rights; Limitation. Notwithstanding
anything herein to the contrary, (a) the Put Rights shall terminate upon the
closing of a Qualified IPO, and (b) the Holder shall have the right to exercise
no more than three (3) Put Rights.

                  5.4. Cancellation of Warrants. All Warrants purchased,
redeemed or otherwise acquired by the Company shall thereupon be canceled and
retired. The Warrant Agency shall cancel any Warrant surrendered for exercise or
registration of transfer or exchange and deliver such canceled Warrants to the
Company.

                  5.5 Increase of Warrant Shares. If the Company has not
redeemed or repurchased all of the Holder Warrant Shares on or prior to July 28,
2004, then on July 29, 2004 and on each July 28, October 28, January 28, and
April 28, thereafter (each a "Warrant Share Increase Date"), on which any of the
Holder Warrant Shares have not been redeemed or repurchased by the Company, then
the number of shares of Common Stock that are subject to this Warrant shall
automatically, and without any act of the Company or its Board of Directors,
increase by an amount equal to the product of:

                  (a) the number of shares of outstanding Common Stock of the
Company on a Fully Diluted Basis as of July 28, 2004; and

                  (b) .32% (provided that, in the event that this Warrant is
transferred or assigned, the percentage set forth in this subsection (b) shall
be adjusted on a pro rata basis among the Warrants issued as a result of such
transfer or assignment so that the aggregate sum of such percentages set forth
in all of the Warrants resulting from the transfer or assignment of this Warrant
shall equal .32%) multiplied by a fraction, the numerator of which shall be the
number of Holder Warrant Shares that have not been redeemed (excluding those
shares attributable to the Additional Exercise Amount) and the denominator of
which shall be the initial number of Holder Warrant Shares (i.e., 4,726.80,
assuming no adjustments pursuant to Article IV hereof).

                                   ARTICLE VI

                           REDUCTION OF WARRANT SHARES

                  6.1 Reduction of Original Exercise Amount in First Year. If
during the period commencing on the date hereof and terminating on the first
anniversary of the date hereof, (a) the Company closes a Qualified IPO covering
the offer and sale of shares of Common Stock in the United States, and (b) based
on the offering price per share of such Qualified IPO, the value of all
outstanding and issued Common Stock of the Company has a value of not less than
$100,000,000, then, in the case of (a) and (b), the Original Exercise Amount
shall be reduced to 5,092 shares of Common Stock, and each

                                       14
<PAGE>   15

Warrant shall be reduced proportionately. Accordingly, in such event, this
Warrant may be exercisable into 1,833.12 shares of Common Stock plus any
Additional Exercise Amount, subject to adjustment as provided herein.

                  6.2 Reduction of Original Exercise Amount in Second Year. If
during the period commencing on the first anniversary of the date hereof and
terminating on the second anniversary of the date hereof, (a) the Company closes
a Qualified IPO covering the offer and sale of shares of Common Stock in the
United States, and (b) based on the offering price per share of such Qualified
IPO, the value of all outstanding and issued Common Stock of the Company has a
value of not less than $100,000,000, then, in the case of (a) and (b), the
Original Exercise Amount shall be reduced to 9,049 shares of Common Stock, and
each Warrant shall be reduced proportionately. Accordingly, in such event, this
Warrant may be exercisable into 3,257.64 shares of Common Stock plus any
Additional Exercise Amount, subject to adjustment as provided herein.

                                   ARTICLE VII

                                   DEFINITIONS

                  The following terms, as used in this Warrant, have the
following meanings:

                  "Additional Exercise Amount" has the meaning set forth in the
second paragraph of this Warrant.

                  "Applicable Percentage" means the percentage equity ownership
of the Holder in the Company represented by the Warrant Shares being put to the
Company, assuming exercise of the Warrants into Common Shares.

                  "Business Day" means any day excluding Saturday, Sunday and
any day on which banking institutions located in New York are authorized by law
or other governmental action to be closed, unless there shall have been an
offering of Common Stock registered under the Securities Act, in which case
"Business Day" means (a) if Common Stock is listed or admitted to trading on a
national securities exchange, a day on which the principal national securities
exchange on which the Common Stock is listed or admitted to trading is open for
business or (b) if Common Stock is not so listed or admitted to trading, a day
on which the New York Stock Exchange is open for business.

                  "Capital Reorganization" has the meaning set forth in Section
4.5.

                  "Cash" shall mean cash or cash equivalents then on the balance
sheet of the Company.

                  "Common Stock" has the meaning set forth in the first
paragraph of this Warrant, subject to change pursuant to Article IV.

                                       15
<PAGE>   16

                  "Company" has the meaning set forth in the first paragraph of
this Warrant.

                  "Closing Price" on any day means (a) if Common Stock is listed
or admitted for trading on a national securities exchange, the reported last
sales price regular way or, if no such reported sale occurs on such day, the
average of the closing bid and asked prices regular way on such day, in each
case on the principal national securities exchange on which Common Stock is
listed or admitted to trading, or (b) if Common Stock is not listed or admitted
to trading on any national securities exchange, the average of the closing bid
and asked prices in the over-the-counter market on such day as reported by
NASDAQ or any comparable system or, if not so reported, as reported by any New
York Stock Exchange member firm selected by the Company for such purpose.

                  "Common Stock Distribution" has the meaning set forth in
Section 4.3(a).

                  "Common Stock Reorganization" has the meaning set forth in
Section 4.2.

                  "Company" means Microwave Components Enterprises, Inc., a
Michigan corporation, together with its successors.

                  "Convertible Securities" has the meaning set forth in Section
4.3(b).

                  "Determination Notice" has the meaning set forth in Section
5.2.

                  "EBITDA" shall mean annual consolidated earnings of the
Company and all of its Subsidiaries before income tax, depreciation and
amortization, and before extraordinary, non-recurring and non-operating income
and expense, computed in accordance with GAAP at the end of the Company's most
recent four full fiscal quarters immediately preceding the Repurchase Date. For
purposes of determining EBITDA, the Company agrees, at the request of the
Holders, to have the Company's financial statements audited at the expense of
the Company by an independent public accounting firm acceptable to the Holders.

                  "Exchange Act" means the Securities Exchange Act of 1934, as
amended, and any successor Federal statute, and the rules and regulations of the
Securities and Exchange Commission (or its successor) thereunder, all as the
same shall be in effect at the time.

                  "Exercise Price" means $.01 per share of the Common Stock,
subject to adjustment pursuant to Article IV.

                  "Fair Market Value" as at any date of determination means the
fair market value of the business or property or services in question as of such
date, as determined in good faith by the Board of Directors of the Company. If
the Holders disagree with such determination, the Holders shall select a pool of
three independent investment banking firms which are nationally or regionally
recognized and which are not affiliated with the Holder, from which the Company
shall select one such firm to appraise such fair market value. The determination
of such investment banking firm shall be binding. All

                                       16
<PAGE>   17

expenses of such investment banking firm shall be borne by the Company. The Fair
Market Value of the Company as at any date of determination shall be the
greatest of (i) the Fair Market Value at such date of the Company and its
Subsidiaries as a going concern, (ii) the liquidation value at such date of the
Company and its Subsidiaries and (iii) the consolidated net worth of the Company
and its Subsidiaries as shown on its latest available consolidated balance sheet
of the Company. Notwithstanding the foregoing, if, at any date of determination
of the Fair Market Value of the Company, the Common Stock shall then be publicly
traded, the Fair Market Value of the Company on such date shall be the greater
of (a) the amount determined in accordance with the immediately preceding
sentence and (b) the Market Price on such date multiplied by the number of
shares of Common Stock then outstanding. Determination of the Fair Market Value
of the Company per share of Common Stock, shall be on a Fully Diluted Basis made
without giving effect to any discount for (i) minority interest, or (ii) any
lack of liquidity of the Common Stock due to the fact that there may be no
public market for the Common Stock; provided, however, that in the event the
Common Stock shall not then be publicly traded, the Fair Market Value shall
reflect the appropriate multiple for comparable privately held companies.

                  "Fully Diluted Basis" means, with respect to any determination
or calculation, that such determination or calculation is performed on a fully
diluted basis (assuming the issuance of all shares issuable under any then
outstanding options, warrants or convertible securities of any kind) determined
in accordance with generally accepted accounting principles as in effect from
time to time.

                  "GAAP" means generally accepted accounting principles, as in
effect on the date hereof.

                  "Holder" has the meaning set forth in the first paragraph of
this Warrant.

                  "Holder Warrant Shares" means the Warrant Shares issued or to
be issued pursuant to this Warrant.

                  "Management Options" means the options granted to certain key
employees of the Company or any of its Subsidiaries for the purchase of not more
than five percent (5%) of the Common Stock on a Fully Diluted Basis.

                  "Mandatory Redemption Right" has the meaning set forth in
Section 5.2.

                  "Market Price" as at any date of determination means the
average of the daily Closing Prices of a share of Common Stock for the shorter
of (i) the 20 consecutive Business Days ending on the most recent Business Day
prior to the Time of Determination and (ii) the period commencing on the date
next succeeding the first public announcement of the issuance, sale,
distribution, grant or exercise in question through such most recent Business
Day prior to the Time of Determination. "Time of Determination" means the time
and date of the earliest of (x) the determination of the stockholders entitled
to receive such issuance, sale, distribution or grant, (y) the determination of
the Holders or the Company to exercise their respective rights set forth

                                       17
<PAGE>   18

in Sections 5.2 or 5.3 hereof and (z) the commencement of "ex-dividend" trading
in respect thereof.

                  "Minimum Revolving Debt" means, with respect to any revolving
debt of the Company and its Subsidiaries on a consolidated basis for purposes of
GAAP, an amount equal to the sum of the lowest principal amount of outstanding
revolving debt of each of the Company and its Subsidiaries during the
twelve-month period immediately preceding the date in question.

                  "NASD" means The National Association of Securities Dealers,
Inc.

                  "NASDAQ" means the Nasdaq Stock Market.

                  "Options" has the meaning set forth in Section 4.3(b).

                  "Original Exercise Amount" has the meaning set forth in the
second paragraph of this Warrant.

                  "Person" means any natural person, corporation, limited
partnership, general partnership, joint stock company, joint venture,
association, company, trust, bank, trust company, land trust, business trust or
other organization, whether or not a legal entity, and any government agency or
political subdivision thereof.

                  "Preferred Stock" means, with respect to the issued and
outstanding Series A Preferred Stock of the Company, the book value thereof as
set forth on the most recent audited financial statements of the Company and its
Subsidiaries delivered to the Holder in accordance with Section 8.01(b) of the
Purchase Agreement.

                  "Purchase Agreement" has the meaning set forth in the second
paragraph of this Warrant.

                  "Put Notification" has the meaning set forth in Section 5.2
hereof.

                  "Put Right" has the meaning set forth in Section 5.2 hereof.

                  "Qualified IPO" means any sale of shares of Common Stock by
and for the account of the Company pursuant to an underwritten initial public
offering registered under the Securities Act resulting on the date of closing in
net proceeds to the Company and selling holders of Common Stock of an amount not
less than $20,000,000, which offering is managed by an independent investment
banking firm that (i) is nationally or regionally recognized, and (ii) has a net
worth, determined in accordance with GAAP, of at least $25,000,000.

                  "Registration Rights Agreement" has the meaning set forth in
Section 3.1 hereto.

                  "Repurchase Date" has the meaning set forth in Section 5.2
hereof.

                                       18
<PAGE>   19

                  "Repurchase Price" has the meaning set forth in Section 5.2
hereof.

                  "Securities Act" means the Securities Act of 1933, as amended,
and rules and regulations of the Securities and Exchange Commission thereunder.

                  "Special Dividend" has the meaning set forth in Section 4.4.

                  "Stockholder Agreement" has the meaning set forth in Section
3.1.

                  "Subsidiary" of any Person means any corporation, partnership,
joint venture, association or other business entity of which more than fifty
percent (50%) of the total voting power of shares of stock or other interests
therein entitled to vote in the election of members of the board of directors,
partnership committee, board of managers or trustees or other managerial body
thereof is at the time owned or controlled, directly or indirectly, by such
Person or one or more of the other Subsidiaries of such Person or a combination
thereof. Unless otherwise specified, "Subsidiary" means a Subsidiary of the
Company and "Subsidiaries" means all Subsidiaries of the Company.

                  "Term Debt" means the aggregate principal amount of any senior
and subordinated term debt of the Company and its Subsidiaries on a consolidated
basis for purposes of GAAP that is outstanding at the time in question.

                  "Triggering Event" means (i) an underwritten public offering
pursuant to an effective registration statement under the Securities Act
covering the offer and sale of shares of Common Stock, (ii) a merger or
consolidation into or with any other entity which results in the exchange of
outstanding shares of the Company for securities or other consideration issued
or paid or caused to be issued or paid by any such entity or affiliate thereof,
(iii) a sale, transfer or other disposition of all or substantially all of the
assets of the Company, (iv) a Qualified IPO or (v) the occurrence of an Event of
Default (as defined in the Purchase Agreement).

                  "Warrant Agency" has the meaning set forth in Section 2.1.

                  "Warrant Shares" means the shares of Common Stock that are
issued or to be issued upon the exercise of the Warrants, consisting of the
shares of Common Stock that constitute the Original Exercise Amount and the
Additional Exercise Amount.

                  "Warrantholder" means a holder of a Warrant.

                  "Warrants" has the meaning set forth in the second paragraph
of this Warrant.

                  All references herein to "days" shall mean calendar days
unless otherwise specified.

                                       19
<PAGE>   20

                                  ARTICLE VIII

                                  MISCELLANEOUS

                  8.1. Notices. Notices and other communications provided for
herein shall be in writing and may be given by mail, overnight courier,
confirmed telex or facsimile transmission and shall, unless otherwise expressly
required, be deemed given when received or, if mailed, four Business Days after
being deposited in the United States mail (via first class) with postage
prepaid, certified mail, return receipt requested and properly addressed. In the
case of the Holder, such notices and communications shall be addressed to its
address as shown on the books maintained by the Warrant Agency, unless the
Holder shall notify the Warrant Agency that notices and communications should be
sent to a different address (or telex or facsimile number), in which case such
notices and communications shall be sent to the address (or telex or facsimile
number) specified by the Holder.

                  8.2. Waivers; Amendments. No failure or delay of the Holder in
exercising any power or right hereunder shall operate as a waiver thereof, nor
shall any single or partial exercise of any such right or power, or any
abandonment or discontinuance of steps to enforce such a right or power,
preclude any other or further exercise thereof or the exercise of any other
right or power. The rights and remedies of the Holder are cumulative and not
exclusive of any rights or remedies which it would otherwise have. The
provisions of this Warrant may be amended, modified or waived with (and only
with) the written consent of the Company and the holders of Warrants entitling
such holders to purchase a majority of the Common Stock subject to purchase upon
exercise of such Warrants at the time outstanding (exclusive of Warrants then
owned by the Company or any Subsidiary (as defined in the Purchase Agreement) or
Affiliate (as defined in the Purchase Agreement) thereof); provided, however,
that no such amendment, modification or waiver shall, without the written
consent of the holders of all Warrants at the time outstanding, (a) change the
number of shares of Common Stock subject to purchase upon exercise of this
Warrant, the Exercise Price or provisions for payment thereof or (b) amend,
modify or waive the provisions of this Section 8.2 or Article III, IV or V or
Section 1.5. The provisions of the Purchase Agreement may be amended, modified
or waived only in accordance with the respective provisions thereof.

                  Any such amendment, modification or waiver effected pursuant
to and in accordance with the provisions of this Section or the applicable
provisions of the Purchase Agreement shall be binding upon the holders of all
Warrants and Warrant Shares, upon each future holder thereof and upon the
Company. In the event of any such amendment, modification or waiver the Company
shall give prompt notice thereof to all holders of Warrants and Warrant Shares
and, if appropriate, notation thereof shall be made on all Warrants thereafter
surrendered for registration of transfer or exchange.

                  No notice or demand on the Company in any case shall entitle
the Company to any other or future notice or demand in similar or other
circumstances.

                                       20
<PAGE>   21

                  8.3. GOVERNING LAW. THIS WARRANT SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF MICHIGAN (WITHOUT
REGARD TO PRINCIPLES OF CONFLICTS OF LAW).

                  8.4. Transfer; Covenants to Bind Successor and Assigns. All
covenants, stipulations, promises and agreements in this Warrant contained by or
on behalf of the Company or the Holder shall bind its successors and assigns,
whether so expressed or not. This Warrant shall be transferable and assignable
by the Holder hereof in whole or from time to time in part to any other Person
and the provisions of this Warrant shall be binding upon and inure to the
benefit of the Holder hereof and its successors and assigns.

                  8.5. Severability. In case any one or more of the provisions
contained in this Warrant shall be invalid, illegal or unenforceable in any
respect, the validity, legality and enforceability of the remaining provisions
contained herein shall not in any way be affected or impaired thereby. The
parties shall endeavor in good faith negotiations to replace the invalid,
illegal or unenforceable provisions with valid provisions the economic effect of
which comes as close as possible to that of the invalid, illegal or
unenforceable prov0isions.

                  8.6. Section Headings. The section headings used herein are
for convenience of reference only, are not part of this Warrant and are not to
affect the construction of or be taken into consideration in interpreting this
Warrant.

                  8.7. Tax Basis. The Company and the Holder agree pursuant to
Proposed Treasury Regulation Section 1.1273-2 that, for Federal income tax
purposes, the aggregate issue price of the Notes (as defined in the Purchase
Agreement) and the aggregate purchase price for the Warrants are those set forth
in Section 2.04 of the Purchase Agreement. Neither the Company nor the Holder
hereof shall voluntarily take any action inconsistent with the agreement set
forth in this Section 8.7.

                  IN WITNESS WHEREOF, the Company has caused this Warrant to be
executed in its corporate name by one of its officers thereunto duly authorized,
and its corporate seal to be hereunto affixed, attested by its Secretary or an
Assistant Secretary, all as of the day and year first above written.

                                  MCE COMPANIES, INC.

                                  By:   /s/ John L. Smucker
                                        -------------------------------
                                        Name: John L. Smucker
                                        Title: President

Attest:

/s/ J. Michael Bernard
-----------------------
Name:  J. Michael Bernard
Title: Assistant Secretary

<PAGE>   22

                           FIRST AMENDMENT TO WARRANT

                  THIS FIRST AMENDMENT TO WARRANT, dated as of October 13,
2000, is entered into by MCE COMPANIES, INC., a Michigan corporation (the
"Company"), in favor of ROCKY MOUNTAIN MEZZANINE FUND II, L.P. (the "Holder").

                                WITNESSETH THAT:

                  WHEREAS, the Company issued to the Holder a Warrant, dated
July 28, 1999, to purchase 4,726.80 shares of common stock, without par value
(the "Common Stock"), of the Company (the "Warrant"); and

                  WHEREAS, the Company and the Holder desire to amend the
Warrant as set forth herein;

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

                  1.       Effect of Amendment; Definitions.

                  Effective upon the closing of the transactions contemplated by
that certain Equity Underwriting Agreement to be entered into by the Company,
certain warrantholders and the several underwriters named therein, the Warrant
shall be and hereby is amended as provided in Section 2 hereof. Except as
expressly amended in Section 2 hereof, the Warrant shall continue in full force
and effect in accordance with its respective provisions on the date hereof. As
used in the Warrant, the terms "this Warrant", "herein", "hereinafter",
"hereto", "hereof", and words of similar import shall, unless the context
otherwise requires, mean the Warrant as amended and modified by this Amendment.

                  2.       Amendments.

                  (A)      As a result of the consummation of a 99-for-1 stock
dividend on the outstanding Common Stock and after giving effect to Section 6.2
of the Warrant prior to the date hereof, the first page of the Warrant shall be
amended by deleting the number "4,726.80" and substituting in lieu thereof
"325,764".

                  (B)      The Warrant shall be amended by deleting Sections
5.1, 5.2, 5.3, 5.4 and 5.5 and Sections 6.1 and 6.2.

                  3.       Miscellaneous.

                  (A)      This Amendment shall be construed in accordance with
and governed by the laws of the State of Michigan, without reference to
principles of conflict of laws.

                  (B)      The acceptance, acknowledgment and agreement by the
Holder of this Amendment shall not constitute, or be deemed to be or construed
as, a waiver of any right, power or remedy of the Holder, or a waiver of any
provision of the Warrant.

<PAGE>   23

                  (C) This Amendment may be executed in two or more
counterparts, each of which shall constitute an original, but all of which, when
taken together, shall constitute but one instrument. The Company agrees to pay
on demand all costs and expenses of the Holder, including reasonable attorneys'
fees and expenses, in connection with the preparation, execution and delivery of
this Amendment.

                  IN WITNESS WHEREOF, the Company has caused this Amendment to
be executed in its corporate name by one of its officers thereunto duly
authorized, and its corporate seal to be hereunto affixed, attested by its
Secretary or an Assistant Secretary, all as of the day and year first above
written.

                                                     MCE COMPANIES, INC.

                                                     By: /s/ John L. Smucker
                                                         --------------------
                                                     Name:   John L. Smucker
                                                     Title:  President

Attest:

/s/ Jon E. Carlson
--------------------------
Name:  Jon E. Carlson
Title: CFO

         The foregoing Amendment to Warrant is hereby acknowledged, accepted and
agreed to by the undersigned as of the 13th day of October, 2000.

                                            ROCKY MOUNTAIN MEZZANINE FUND II,
                                               L.P.
                                            By: Rocky Mountain Capital Partners
                                                LLP, its General Partner

                                                 By: /s/ Stephen N. Sangalis
                                                     ---------------------------
                                                 Title:  General Partner

                                                                         Page 2<PAGE>   1

                                                                    EXHIBIT 4.10

                          REGISTRATION RIGHTS AGREEMENT

                  This REGISTRATION RIGHTS AGREEMENT (this "Agreement"), dated
as of July 23, 1996, is among MICROWAVE COMPONENTS ENTERPRISES, INC., a Michigan
corporation (the "Company"), HANIFEN IMHOFF MEZZANINE FUND, L.P. ("HI"), and
NATIONAL CITY CAPITAL CORPORATION ("NCCC"; together with HI, the "Holders", and
each individually a "Holder").

                  This Agreement is made in connection with the Note, Warrant
and Preferred Stock Purchase Agreement of even date herewith among the Company,
HI and NCCC (the "Purchase Agreement"). In order to induce the Holders to enter
into the Purchase Agreement, the Company has agreed to provide the registration
rights set forth in this Agreement.

                  The parties hereby agree as follows:

         1.       Definitions.  As used herein, the following terms have the
following meanings:

                  "Commission" means the Securities and Exchange Commission.

                  "Common Stock" means the Company's Common Stock, without par
value per share.

                  "Demand Registration" has the meaning specified in Section
2(a).

                  "Exchange Act" means the Securities Exchange Act of 1934, as
amended.

                  "Holder" means one of the Holders identified in the
introductory paragraph to this Agreement or such other Person to whom such
Holder shall have assigned or transferred such Holder's Registrable Securities
in accordance with Section 12(g) of this Agreement.

                  "Indemnified Party" has the meaning specified in Section 8(b)
hereof.

                  "Indemnifying Party" has the meaning specified in Section 8(b)
hereof.

                  "Instrument of Accession" means an instrument in the form of
Schedule 1 hereto.

                  "IPO" means the initial public offering of equity securities
of the Company pursuant to an effective registration statement under the
Securities Act.

                  "Person" means any individual, partnership, corporation, trust
or unincorporated organization, or a government or agency or political
subdivision thereof.

                  "Piggyback Registration" has the meaning specified in Section
3(a).

                  "Prospectus" means the prospectus included in any Registration
Statement, as amended or supplemented by any Prospectus supplement with respect
to the terms of the offering of any portion of the Registrable Securities
covered by such Registration Statement and all other amendments and supplements
to the Prospectus, including post-effective amendments, and all material
incorporated by reference in such Prospectus.

                  "Public Sale" means any sale of Common Stock to the public
pursuant to a public offering registered under the Securities Act, or to the
public through a broker or market-maker pursuant to the provisions of Rule 144
(or any successor rule) adopted under the Securities Act.

<PAGE>   2

                  "Registered" and "Registration" means a registration effected
by preparing and filing a Registration Statement in compliance with the
Securities Act and the declaration or ordering by the Commission of
effectiveness of such Registration Statement.

                  "Registrable Securities" means, at any time, all of the then
issued and outstanding (a) shares of Common Stock issued or issuable to the
Holders upon exercise of any of the Warrants, (b) all shares of Common Stock
issued to or purchased by any of the Holders from time to time other than upon
exercise of any of the Warrants, (c) shares of any class of Common Stock into
which such shares of Common Stock have been or may be converted, (d) capital
stock or other securities into which or for which any shares of Common Stock
described in the foregoing clauses (a) - (c) shall have been converted or
exchanged pursuant to any recapitalization, reorganization or merger of the
Company, and (e) shares of capital stock issued with respect to the foregoing
pursuant to a stock split or stock dividend, provided that the foregoing capital
stock shall be Registrable Securities only so long as such capital stock has not
been sold pursuant to a Public Sale, and provided further, that any such capital
stock which may be resold by a Holder pursuant to Rule 144(k) promulgated by the
Commission under the Exchange Act shall cease to be Registrable Securities from
and after the first date upon which Rule 144(k) becomes available for such
resale.

                  "Registration Expenses" has the meaning specified in Section
7.

                  "Registration Statement" means any registration statement of
the Company filed with the Commission in connection with an IPO or subsequent
public offering of equity securities of the Company under the Securities Act
which covers any of the Registrable Securities pursuant to the provisions of
this Agreement including the Prospectus, amendments and supplements to such
Registration Statement, including post-effective amendments, all exhibits and
all material incorporated by reference in such Registration Statement.

                  "Securities Act" means the Securities Act of 1933, as amended.

                  "Stockholder Agreement" means the Stockholder Agreement of
even date herewith between the Company, the Holders, and certain other Persons.

                  "Trigger Event" means the earlier to occur of (a) the IPO and
(b) the Company's failure to pay the amount of cash required by the Put Right
(as defined in the Warrants) upon the request of the Holder thereunder to
receive cash in lieu of a promissory note.

                  "Underwriters' Maximum Number" means, for any Piggyback
Registration, Demand Registration or other registration which is an underwritten
registration, that number of securities to which such registration should, in
the opinion of the managing underwriters of such registration in the light of
marketing factors, be limited.

                  "Warrants" means (a) the Warrants issued to HI and NCCC
pursuant to the Purchase Agreement and (b) any other "Warrants", as defined in
each of such Warrants.

         2.       Demand Registration.

                  (a)      Request for Demand Registration.

                           (i) Upon the occurrence of the Trigger Event arising
         as a result of the Company's determination to participate in an IPO,
         the Company shall give the Holders prompt notice thereof. In addition,
         upon the occurrence of the Trigger Event, any of the Holders may give
         to the Company, pursuant to this subparagraph (i), a written request
         for the registration by the Company under the Securities Act of all or
         any part of the Registrable Securities of such Holders (such
         registration being herein called a "Demand Registration"). Within ten
         (10) days

<PAGE>   3

         after the receipt by the Company of any such written request, the
         Company will give written notice of such registration request to all
         Holders of Registrable Securities.

                      (ii) Subject to the limitations contained in the following
                  paragraphs of this Section 2, after the receipt of such
                  written request for a Demand Registration, (A) the Company
                  will be obligated and required to include in such Demand
                  Registration all Registrable Securities with respect to which
                  the Company shall receive from Holders of Registrable
                  Securities, within thirty (30) days after the date on which
                  the Company shall have given to all Holders a written notice
                  of registration request pursuant to Section 2(a)(i) hereof,
                  the written requests of such Holders for inclusion in such
                  Demand Registration, and (B) the Company will use its best
                  efforts in good faith to effect promptly the registration of
                  all such Registrable Securities. All written requests made by
                  Holders of Registrable Securities pursuant to this
                  subparagraph (ii) will specify the number of shares of
                  Registrable Securities to be registered and will also specify
                  the intended method of disposition thereof.

                  (b)      Limitations on Demand Registration.

                           (i) The Holders of Registrable Securities will not be
         entitled to require the Company to effect (A) any Demand Registration
         on Form S-1 (or any other comparable form adopted by the Commission)
         more frequently than once during any twelve-month period, or (B) any
         Demand Registration on Form S-1 (or other comparable form adopted by
         the Commission) unless Form S-3 (or any comparable form adopted by the
         Commission) is not available for such Demand Registration.

                      (ii) The Holders will not be entitled to require the
                  Company to effect more than two (2) Demand Registrations.

                     (iii) Any registration initiated by Holders of Registrable
                  Securities as a Demand Registration pursuant to Section 2(a)
                  hereof shall not count as a Demand Registration for purposes
                  of Sections 2(b)(i) and (ii) hereof (A) unless and until such
                  Registration shall have become effective and all Registrable
                  Securities requested to be included in such registration shall
                  have been actually sold or (B) if such Holders withdraw their
                  request for a Demand Registration at any time because such
                  Holders (1) reasonably believed that the Registration
                  Statement or Prospectus relating to such Registration
                  Statement contained an untrue statement of a material fact or
                  omitted to state a material fact required to be stated therein
                  or necessary to make the statements made therein (in the case
                  of the Prospectus, in the light of the circumstances under
                  which they were made) not misleading, (2) notified the Company
                  of such fact and requested that the Company correct such
                  alleged misstatement or omission and (3) the Company has
                  refused to correct such alleged misstatement or omission.

                      (iv) The Company shall not be obligated or required to
                  effect the Demand Registration of any Registrable Securities
                  pursuant to Section 2(a) hereof during the period commencing
                  on the date falling thirty (30) days prior to the Company's
                  estimated date of filing of, and ending on the date one
                  hundred eighty (180) days following the effective date of, any
                  Registration Statement pertaining to any underwritten
                  Registration initiated by the Company, for the account of the
                  Company, if the written request of Holders for such Demand
                  Registration pursuant to Section 2(a)(i) hereof shall have
                  been received by the Company after the Company shall have
                  given to all Holders of Registrable Securities a written
                  notice stating that the Company is commencing an underwritten
                  Registration initiated by the Company; provided, however, that
                  the Company will use its best efforts in good faith to cause
                  any such Registration Statement to be filed and to become
                  effective as expeditiously as shall be reasonably possible.

<PAGE>   4

                  (c) Priority On Demand Registrations. If the managing
underwriters in any underwritten Demand Registration shall give written advice
to the Company and the Holders of Registrable Securities to be included in such
registration of an Underwriters' Maximum Number, then: (i) the Company will be
obligated and required to include in such registration that number of
Registrable Securities requested by the Holders thereof to be included in such
registration which does not exceed the Underwriters' Maximum Number, and such
number of Registrable Securities shall be allocated pro rata among the Holders
of such Registrable Securities on the basis of the number of Registrable
Securities requested to be included therein by each such Holder; and (ii) if the
Underwriters' Maximum Number exceeds the number of Registrable Securities
requested by the Holders thereof to be included in such registration, then the
Company may include in such registration that number of other securities which
the Company and/or persons (other than the Holders as such) shall have requested
be included in such registration as shall be determined by the Company in its
sole discretion and which shall not be greater than such excess. Neither the
Company nor any of its stockholders (other than Holders of Registrable
Securities) shall be entitled to include any securities in any underwritten
Demand Registration unless the Company or such stockholders (as the case may be)
shall have agreed in writing to sell such securities on the same terms and
conditions as shall apply to the Registrable Securities to be included in such
Demand Registration.

                  (d) Selection Of Underwriters. The Holders of a majority of
the Registrable Securities to be included in any Demand Registration shall
determine whether or not such Demand Registration shall be underwritten and
shall select the investment banker(s) and managing underwriter(s), that shall be
of national or regional standing, to administer such offering.

         3.       Piggyback Registrations.

                  (a)      Rights to Piggyback.

                           (i) If (and on each occasion that) the Company
         proposes to register any of its securities under the Securities Act
         either for the Company's own account or for the account of any of its
         stockholders (other than for Holders pursuant to Section 2 hereof
         entitled to participate in a registration) (each such registration not
         withdrawn or abandoned prior to the effective date thereof being herein
         called a "Piggyback Registration"), the Company will give written
         notice to all Holders of Registrable Securities of such proposal not
         later than the earlier to occur of (A) the tenth day following the
         receipt by the Company of notice of exercise of any registration rights
         by any persons, and (B) the thirtieth day prior to the anticipated
         filing date of such Piggyback Registration.

                      (ii) Subject to the provisions contained in paragraph (b)
                  of this Section 3 and in the last sentence of this
                  subparagraph (ii), (A) the Company will be obligated and
                  required to include in each Piggyback Registration all
                  Registrable Securities with respect to which the Company shall
                  receive from Holders of Registrable Securities, within fifteen
                  (15) days after the date on which the Company shall have given
                  written notice of such Piggyback Registration to all Holders
                  of Registrable Securities pursuant to Section 3(a)(i) hereof,
                  the written requests of such Holders for inclusion in such
                  Piggyback Registration, and (B) the Company will use its best
                  efforts in good faith to effect promptly the registration of
                  all such Registrable Securities. The Holders of Registrable
                  Securities shall be permitted to withdraw all or any part of
                  the Registrable Securities of such Holders from any Piggyback
                  Registration at any time prior to the effective date of such
                  Piggyback Registration unless such Holders of Registrable
                  Securities shall have entered into a written agreement with
                  the Company's underwriters establishing the terms and
                  conditions under which such Holders would be obligated to sell
                  such securities in such Piggyback Registration, provided that,
                  such Holders shall use their good faith efforts to advise the
                  Company as promptly as practicable of their determination to
                  so withdraw. The Company will not be obligated or required to
                  include any Registrable Securities in any

<PAGE>   5

                  registration effected solely to implement an employee benefit
                  plan or a transaction to which Rule 145 of the Commission is
                  applicable.

                  (b) Priority on Piggyback Registrations. If a Piggyback
Registrations is an underwritten registration, and the managing underwriters
shall give written advice to the Company of an Underwriters' Maximum Number,
then: (i) the Company shall be entitled to include in such registration that
number of securities which the Company proposes to offer and sell for its own
account in such registration and which does not exceed the Underwriters' Maximum
Number; (ii) if the Underwriters' Maximum Number exceeds the number of
securities which the Company proposes to offer and sell for its own account in
such registration, then the Company will be obligated and required to include in
such registration that number of Registrable Securities requested by the Holders
thereof to be included in such registration and which does not exceed such
excess and such Registrable Securities shall be allocated pro rata among the
Holders thereof on the basis of the number of Registrable Securities requested
to be included therein by each such Holder; and (iii) if the Underwriters'
Maximum Number exceeds the sum of the number of Registrable Securities which the
Company shall be required to include in such registration pursuant to clause
(ii) and the number of securities which the Company proposes to offer and sell
for its own account in such registration, then the Company may include in such
registration that number of other securities which persons shall have requested
be included in such registration and which shall not be greater than such
excess.

                  (c) Selection of Underwriters. In any Piggyback Registration,
the Company shall (unless the Company shall otherwise agree) have the right to
select the investment bankers and managing underwriters in such registration.

         4.       Lockup Agreements.

                  (a) Restrictions on Public Sale of Holders of Registrable
Securities. Each Holder of Registrable Securities, if the Company or the
managing underwriters so request in connection with any underwritten
registration of the Company's securities, will not, without the prior written
consent of the Company or such underwriters, effect any Public Sale or other
distribution of any equity securities of the Company, including any sale
pursuant to Rule 144, during the seven (7) days prior to, and, during the one
hundred twenty (120) day period commencing on the effective date of such
underwritten registration, except in connection with such underwritten
Registration.

                  (b) Restrictions on Public Sale by the Company. The Company
agrees not to effect any public sale or other distribution of its equity
securities, or any securities convertible into or exchangeable or exercisable
for such equity securities, during the period commencing on the seventh day
prior to, and ending on the one hundred eightieth (180th) day following, the
effective date of any underwritten Demand or Piggyback Registration, except in
connection with any such underwritten registration and except for any offering
pursuant to an employee benefit plan and registered on Form S-8 (or comparable
form adopted by the Commission).

         5.       Registration Procedures.

                  (a) Whenever the Holders of Registrable Securities have
requested that any Registrable Securities be registered pursuant to this
Agreement, the Company will use its best efforts to effect the registration and
the sale of such Registrable Securities in accordance with the intended method
of disposition thereof, and pursuant thereto the Company will as expeditiously
as practicable:

                      (i) prepare and file with the Commission a Registration
         Statement with respect to such Registrable Securities and use its best
         efforts to cause such Registration Statement to become effective
         (provided, that before filing a Registration Statement or Prospectus or
         any amendments or supplements thereto, the Company will furnish to
         counsel selected by the holders of Registrable Securities covered by
         such Registration Statement, copies of all such documents

<PAGE>   6

         proposed to be filed, which documents will be subject to the timely
         review of such counsel and the Company will not file any Registration
         Statement or amendment thereto or any Prospectus or any supplement
         thereto, including documents incorporated by reference, to which the
         Holders of a majority of the Registrable Securities covered by such
         Registration Statement shall timely and reasonably object);

                      (ii) prepare and file with the Commission such amendments
                  and supplements to such Registration Statement and the
                  Prospectus used in connection therewith as may be necessary to
                  keep such Registration Statement effective for not more than
                  six (6) months and, comply with the provisions of the
                  Securities Act with respect to the disposition of all
                  securities covered by such Registration Statement during such
                  effective period in accordance with the intended methods of
                  disposition by the sellers thereof set forth in such
                  Registration Statement and cause the Prospectus to be
                  supplemented by any required prospectus supplement, and as so
                  supplemented to be filed pursuant to Rule 424 under the
                  Securities Act;

                     (iii) upon request, furnish to each seller of Registrable
                  Securities such number of copies of such Registration
                  Statement, each amendment and supplement thereto, the
                  Prospectus included in such Registration Statement (including
                  each preliminary Prospectus and each Prospectus filed under
                  Rule 424 of the Securities Act) and such other documents as
                  each such seller may reasonably request in order to facilitate
                  the disposition of the Registrable Securities owned by each
                  such seller (it being understood that the Company consents to
                  the use of the Prospectus and any amendment or supplement
                  thereto by such seller in connection with the offering and
                  sale of the Registrable Securities covered by the Prospectus
                  or any amendment or supplement thereto);

                      (iv) use its best efforts to register or qualify such
                  Registrable Securities under such other securities or blue sky
                  laws of such jurisdictions as any seller reasonably requests,
                  use its best efforts to keep each such Registration or
                  qualification effective, including through new filings,
                  amendments or renewals, during the period such Registration
                  Statement is required to be kept effective, and do any and all
                  other acts and things which may be reasonably necessary or
                  advisable to enable such seller to consummate the disposition
                  in such jurisdictions of the Registrable Securities owned by
                  such seller; provided that the Company will not be required
                  (A) to qualify generally to do business in any jurisdiction
                  where it would not otherwise be required to qualify but for
                  this subparagraph (a)(iv), (B) to subject itself to taxation
                  in any such jurisdiction or (C) to consent to general service
                  of process in any such jurisdiction;

                           (v) notify each seller of such Registrable
         Securities, at any time when a Prospectus relating thereto is required
         to be delivered under the Securities Act, of the happening of any event
         as a result of which the Prospectus included in such Registration
         Statement contains an untrue statement of a material fact or omits any
         fact necessary to make the statements therein not misleading, and, at
         the request of any such seller, the Company will promptly prepare (and,
         when completed, give notice to each seller of Registrable Securities) a
         supplement or amendment to such Prospectus so that, as thereafter
         delivered to the purchasers of such Registrable Securities, such
         Prospectus will not contain an untrue statement of a material fact or
         omit to state any fact necessary to make the statements therein not
         misleading; provided that upon such notification by the Company, each
         seller of such Registrable Securities will not offer or sell such
         Registrable Securities until the Company has notified such seller that
         it has prepared a supplement or amendment to such Prospectus and
         delivered copies of such supplement or amendment to such Seller;

<PAGE>   7

                      (vi) cause all such Registrable Securities to be listed,
                  prior to the date of the first sale of such Registrable
                  Securities pursuant to such Registration, on each securities
                  exchange on which similar securities issued by the Company are
                  then listed and, if not so listed, to be listed with the
                  Nasdaq Stock Market;

                     (vii) provide a transfer agent and registrar for all such
                  Registrable Securities not later than the effective date of
                  such Registration Statement;

                    (viii) enter into all such customary agreements (including
                  underwriting agreements in customary form) and take all such
                  other actions as the holders of a majority of the Registrable
                  Securities being sold or the underwriters, if any, reasonably
                  request in order to expedite or facilitate the disposition of
                  such Registrable Securities (including, without limitation,
                  effecting a stock split or a combination of shares);

                      (ix) make available for inspection on a confidential basis
                  by any seller, any underwriter participating in any
                  disposition pursuant to such Registration Statement, and any
                  attorney, accountant or other agent retained by any such
                  seller or underwriter (in each case after reasonable prior
                  notice), all financial and other records, pertinent corporate
                  documents and properties of the Company, and cause the
                  Company's officers, directors, employees and independent
                  accountants to supply on a confidential basis all information
                  reasonably requested by any such seller, underwriter,
                  attorney, accountant or agent in connection with such
                  Registration Statement;

                           (x) permit any holder of Registrable Securities which
         holder, in its sole and exclusive judgment, might be deemed to be an
         underwriter or a controlling person of the Company within the meaning
         of Section 15 of the Securities Act, to participate in the preparation
         of such registration or comparable statement and to permit the
         insertion therein of material, furnished to the Company in writing,
         which in the reasonable judgment of such holder and its counsel should
         be included, provided that such material shall be furnished under such
         circumstances as shall cause it to be subject to the indemnification
         provisions provided pursuant to Section 8(b) hereof;

                      (xi) in the event of the issuance of any stop order
                  suspending the effectiveness of a Registration Statement, or
                  of any order suspending or preventing the use of any related
                  Prospectus or suspending the qualification of any Registrable
                  Securities included in such Registration Statement for sale in
                  any jurisdiction, the Company will use its best efforts
                  promptly to obtain the withdrawal of such order;

                     (xii) if requested by the managing underwriter or
                  underwriters or any holder of Registrable Securities in
                  connection with any sale pursuant to a Registration Statement,
                  promptly incorporate in a Prospectus supplement or
                  post-effective amendment such information relating to such
                  underwriting as the managing underwriter or underwriters or
                  such holder reasonably requests to be included therein, and
                  make all required filings of such Prospectus supplement or
                  post-effective amendment as soon as practicable after being
                  notified of the matters incorporated in such Prospectus
                  supplement or post-effective amendment;

                    (xiii) cooperate with the holders of Registrable Securities
                  and the managing underwriter or underwriters, if any, to
                  facilitate the timely preparation and delivery of certificates
                  (not bearing any restrictive legends) representing Registrable
                  Securities to be sold under such Registration, and enable such
                  Registrable Securities to be in such denominations and
                  registered in such names as the managing underwriter or
                  underwriters, if any, or such holders may request;

<PAGE>   8

                     (xiv) use its best efforts to cause the Registrable
                  Securities to be registered with or approved by such other
                  governmental agencies or authorities within the United States
                  and having jurisdiction over the Company as may reasonably be
                  necessary to enable the seller or sellers thereof or the
                  underwriter or underwriters, if any, to consummate the
                  disposition of such Registrable Securities;

                      (xv) use its best efforts to obtain:

                                  (A) at the time of effectiveness of each
                  Registration, a "comfort letter" from the Company's
                  independent certified public accountants covering such matters
                  of the type customarily covered by "cold comfort letters" as
                  the Holders of a majority of the Registrable Securities
                  covered by such Registration and the underwriters reasonably
                  request; and

                                  (B) at the time of any underwritten sale
                  pursuant to a Registration Statement, a "bring-down comfort
                  letter", dated as of the date of such sale, from the Company's
                  independent certified public accountants covering such matters
                  of the type customarily covered by comfort letters as the
                  Holders of a majority of the Registrable Securities covered by
                  such Registration Statement and the underwriters reasonably
                  request;

                     (xvi) use its best efforts to obtain, at the time of
                  effectiveness of each Piggyback Registration and at the time
                  of any sale pursuant to each Registration, an opinion or
                  opinions, favorable in form and scope to the Holders of a
                  majority of the Registrable Securities covered by such
                  Registration, from counsel to the Company in customary form;
                  and

                    (xvii) otherwise comply with all applicable rules and
                  regulations of the Commission, and make generally available to
                  its security holders (as contemplated by Section 11(a) under
                  the Securities Act) an earnings statement satisfying the
                  provisions of Rule 158 under the Securities Act no later than
                  ninety (90) days after the end of the twelve (12) month period
                  beginning with the first month of the Company's first fiscal
                  quarter commencing after the effective date of the
                  Registration Statement, which statement shall cover said
                  twelve (12) month period.

                  (b) Whenever the Holders of Registrable Securities have
requested that any Registrable Securities be registered pursuant to this
Agreement, the Holders will as expeditiously as practicable comply with all
applicable laws and rules and regulations of the Commission in connection
therewith.

         6.       Cooperation by Prospective Sellers, Etc.

                  (a) Each prospective seller of Registrable Securities will
furnish to the Company in writing such information as the Company may reasonably
require from such seller, and otherwise reasonably cooperate with the Company in
connection with any Registration Statement with respect to such Registrable
Securities.

                  (b) The failure of any prospective seller of Registrable
Securities to furnish any information or documents in accordance with any
provision contained in this Agreement shall not affect the obligations of the
Company under this Agreement to any remaining sellers who furnish such
information and documents unless in the reasonable opinion of counsel to the
Company or the underwriters, such failure impairs or may impair the viability of
the offering or the legality of the Registration Statement or the underlying
offering.

<PAGE>   9

                  (c) The Holders of Registrable Securities included in any
Registration Statement will not (until further notice) effect sales thereof
after receipt of telegraphic or written notice from the Company to suspend sales
to permit the Company to correct or update such Registration Statement or
Prospectus; but the obligations of the Company with respect to maintaining any
Registration Statement current and effective shall be extended by a period of
days equal to the period such suspension is in effect.

                  (d) At the end of any period during which the Company is
obligated to keep any Registration Statement current and effective as provided
by Section 5 hereof (and any extensions thereof required by the preceding
paragraph (c) of this Section 6), the Holders of Registrable Securities included
in such Registration Statement shall discontinue sales of shares pursuant to
such Registration Statement upon receipt of notice from the Company of its
intention to remove from registration the shares covered by such Registration
Statement which remain unsold, and such Holders shall notify the Company of the
number of shares registered which remain unsold promptly after receipt of such
notice from the Company.

                  (e) Notwithstanding any other provision herein to the
contrary, no Holder of Registrable Securities which constitute warrants or
options shall be required to exercise such warrants or options in connection
with any Registration until the actual closing of the Public Sale of the shares
of Common Stock issuable upon exercise of such warrants or options. The Company
shall enter into such agreements and shall otherwise cooperate with the Holders
of Registrable Securities in order to ensure that such Holders are not required
to exercise any warrants or options prior to the date of the actual closing of
the Public Sale of the shares of Common Stock issuable upon exercise of such
warrants or options.

         7.       Registration Expenses.

                  (a) All costs and expenses incurred or sustained in connection
with or arising out of each Registration pursuant to Sections 2 and 3 hereof,
including, without limitation, all registration and filing fees, fees and
expenses of compliance with securities or blue sky laws (including reasonable
fees and disbursements of counsel for the underwriters in connection with the
blue sky qualification of Registrable Securities), printing expenses, messenger,
telephone and delivery expenses, fees and disbursements of counsel for the
Company, reasonable fees and disbursements of one counsel representing the
Holders of Registrable Securities, such counsel to be selected by the Holders of
a majority of the Registrable Securities to be included in such Registration,
fees and disbursements of all independent certified public accountants
(including the expenses relating to the preparation and delivery of any special
audit or "cold comfort" letters required by or incident to such Registration),
and fees and disbursements of underwriters (excluding discounts and
commissions), the reasonable fees and expenses of any special experts retained
by the Company of its own initiative or at the request of the managing
underwriters in connection with such Registration, and fees and expenses of all
(if any) other persons retained by the Company (all such costs and expenses
being herein called, collectively, the "Registration Expenses" will be borne and
paid by the Company. The Company will, in any case, pay its internal expenses
(including, without limitation, all salaries and expenses of its officers and
employees performing legal or accounting duties), the expense of any annual
audit, and the fees and expenses incurred in connection with the listing of the
securities to be registered on each securities exchange on which similar
securities of the Company are then listed.

                  (b) The Company will not bear the cost of nor pay for any
stock transfer taxes imposed in respect of the transfer of any Registrable
Securities to any purchaser thereof by any Holder of Registrable Securities in
connection with any Registration of Registrable Securities pursuant to this
Agreement.

                  (c) To the extent that Registration Expenses incident to any
Registration are, under the terms of this Agreement, not required to be paid by
the Company, each Holder of Registrable

<PAGE>   10

Securities included in such Registration will pay all Registration Expenses
which are clearly solely attributable to the registration of such Holder's
Registrable Securities so included in such Registration, and all other
Registration Expenses not so attributable to one Holder will be borne and paid
by all sellers of securities included in such Registration in proportion to the
number of securities so included by each such seller.

         8.       Indemnification.

                  (a) Indemnification by the Company. The Company will indemnify
each Holder requesting or joining in a registration and each underwriter of the
securities so registered, the officers, directors and partners' of each such
Person and each Person who controls any thereof (within the meaning of the
Securities Act or the Exchange Act) against any and all claims, losses, damages
and liabilities (or actions in respect thereof) arising out of or based on any
untrue statement (or alleged untrue statement) of any material fact contained in
any Prospectus, offering circular or other document incident to any
registration, qualification or compliance (or in any related Registration
Statement, notification or the like) or any omission (or alleged omission) to
state therein any material fact required to be stated therein or necessary to
make the statements therein not misleading, or any violation by the Company of
any rule or regulation promulgated under the Securities Act applicable to the
Company and relating to any action or inaction required of the Company in
connection with any such registration, qualification or compliance, and the
Company will reimburse each such Holder, underwriter, officer, director, partner
and controlling person for any legal and any other expenses reasonably incurred
in connection with investigating or defending any such claim, loss, damage,
liability or action; provided, however, that the Company will not be liable in
any such case to the extent that any such claim, loss, damage or liability
arises out of or is based on any untrue statement or omission based upon written
information furnished to the Company in an instrument duly executed by such
Holder, underwriter, officer, director, partner or controlling person and stated
to be specifically for use in such Registration Statement, Prospectus, offering
circular or other document.

                  (b) Indemnification by Each Holder. Each Holder requesting or
joining in a registration will indemnify each underwriter of the securities so
registered, the Company and its officers and directors and each person, if any,
who controls any thereof (within the meaning of the Securities Act) and their
respective successors in title and assigns against any and all claims, losses,
damages and liabilities (or actions in respect thereof) arising out of or based
on any untrue statement (or alleged untrue statement) of any material fact
contained in any Prospectus, offering circular or other document incident to any
registration, qualification or compliance (or in any related Registration
Statement, notification or the like) or any omission (or alleged omission) to
state therein any material fact required to be stated therein or necessary to
make the statement therein not misleading, and such Holder will reimburse each
underwriter, the Company and each other person indemnified pursuant to this
paragraph (b) for any legal and any other expenses reasonably incurred in
connection with investigating or defending any such claim, loss, damage,
liability or action; provided, however, that this paragraph (b) shall apply only
if (and only to the extent that) such statement or omission was made in reliance
upon written information furnished to such underwriter or the Company in an
instrument duly executed by such Holder and stated to be specifically for use in
such Prospectus, offering circular or other document (or related Registration
Statement, notification or the like) or any amendment or supplement thereto;
and, provided further, that each Holder's liability hereunder with respect to
any particular registration shall be limited to an amount equal to the net
proceeds received by such Holder from the Registrable Securities sold by such
Holder in such registration.

                  (c) Indemnification Proceedings. Each party entitled to
indemnification pursuant to this Section 8 (the "Indemnified Party") shall give
notice to the party required to provide indemnification pursuant to this Section
8 (the "Indemnifying Party") promptly after such Indemnified Party acquires
actual knowledge of any claim as to which indemnity may be sought, and shall
permit the Indemnifying Party (at its expense) to assume the defense of any
claim or any litigation resulting therefrom; provided that counsel for the
Indemnifying Party, who shall conduct the defense of such claim or litigation,
shall be

<PAGE>   11

acceptable to the Indemnified Party, and the Indemnified Party may participate
in such defense at such party's expense; and provided, further, that the failure
by any Indemnified Party to give notice as provided in this paragraph (c) shall
not relieve the Indemnifying Party of its obligations under this Section 8
except to the extent that the failure results in a failure of actual notice to
the Indemnifying Party and such failure actually prejudices such Indemnifying
Party's substantive rights or defenses. No Indemnifying Party, in the defense of
any such claim or litigation, shall, except with the consent of each Indemnified
Party (which consent shall not be unreasonably withheld), consent to entry of
any judgment or enter into any settlement which does not include as an
unconditional term thereof the giving by the claimant or plaintiff to such
Indemnified Party of a release from all liability in respect to such claim or
litigation. The reimbursement required by this Section 8 shall be made by
periodic payments during the course of the investigation or defense, as and when
bills are received or expenses incurred.

         9. Contribution in Lieu of Indemnification. If the indemnification
provided for in Section 8 hereof is unavailable to a party that would have been
an Indemnified Party under any such section in respect of any losses, claims,
damages or liabilities (or actions in respect thereof) referred to therein, then
each party that would have been an Indemnifying Party thereunder shall, in lieu
of indemnifying such Indemnified Party, contribute to the amount paid or payable
by such Indemnified Party as a result of such losses, claims, damages or
liabilities (or actions in respect thereof) in such proportion as is appropriate
to reflect the relative fault of the Indemnifying Party on the one hand and such
Indemnified Party on the other in connection with the statements or omissions
which resulted in such losses, claims, damages or liabilities (or actions in
respect thereof). The relative fault shall be determined by reference to, among
other things, whether the untrue or alleged untrue statement of a material fact
or the omission or alleged omission to state a material fact relates to
information supplied by the Indemnifying Party or such Indemnified Party and the
parties' relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission. The Company and each Holder of
Registrable Securities agree that it would not be just and equitable if
contribution pursuant to this Section 9 were determined by allocation or by any
other method of allocation which does not take account of the equitable
considerations referred to above in this Section 9. The amount paid or payable
by an Indemnified Party as a result of the losses, claims, damages or
liabilities (or actions in respect thereof) referred to above in this Section 9
shall include any legal or other expenses reasonably incurred by such
Indemnified Party in connection with investigating or defending any such action
or claim. Notwithstanding any provision of this Section 9 to the contrary, (a)
no Person guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any person
who was not guilty of such fraudulent misrepresentation and (b) each Holder's
liability hereunder with respect to any particular Registration shall be limited
to an amount equal to the net proceeds received by such Holder from the
Registrable Securities sold by such Holder in such Registration.

         10. Rule 144 Requirements; Form S-3. From time to time after the
earlier to occur of (a) the ninetieth (90th) day following the date on which
there shall first become effective a Registration Statement filed by the Company
under the Securities Act, or (b) the date on which the Company shall register a
class of securities under Section 12 of the Exchange Act, the Company will make
every effort in good faith to timely file all reports required by the Securities
Exchange Act of 1934, as amended and to make publicly available and available to
the Holders of Registrable Securities, pursuant to Rule 144 or Rule 144A of the
Commission under the Securities Act, such information as shall be necessary to
enable the Holders of Registrable Securities to make sales of Registrable
Securities pursuant to such Rules. In addition, once the Company becomes
eligible to register securities on Form S-2 or Form S-3 (or any comparable form
adopted by the Commission), the Company will make every effort in good faith to
ensure that the Company thereafter retains such eligibility therefor. The
Company will furnish to any Holder of Registrable Securities, upon reasonable
request made by such Holder at any time after the undertaking of the Company in
the preceding sentence shall have first become effective, a written statement
signed by the Company, addressed to such Holder, describing briefly the action
the Company has taken or proposes to take to comply with the current public
information requirements of Rule 144 and Rule 144A. The Company will, at the
reasonable request of any Holder of Registrable Securities, upon receipt from
such Holder of a certificate certifying (i) that such Holder has held such
Registrable

<PAGE>   12

Securities for the applicable holding period under Rule 144 with respect to such
Holder's possession of such Registrable Securities, as in effect on the date of
such certificate, (ii) that such Holder has not been an affiliate (as defined in
Rule 144) of the Company for more than the ninety (90) preceding days, and (iii)
as to such other matters as may be appropriate in accordance with such Rule,
remove from the stock certificates representing such Registrable Securities that
portion of any restrictive legend which relates to the registration provisions
of the Securities Act.

         11. Participation in Underwritten Registrations. (a) No Person may
participate in any underwritten registration pursuant to this Agreement unless
such Person (i) agrees to sell such Person's securities on the basis provided in
any underwriting arrangements approved by the persons entitled, under the
provisions hereof, to approve such arrangements, and (ii) completes and executes
all questionnaires, powers of attorney, indemnities, underwriting agreements and
other documents reasonably required by the terms of such underwriting
arrangements. Any Holder of Registrable Securities to be included in any
underwritten Registration shall be entitled at any time to withdraw such
Registrable Securities from such Registration prior to its effective date in the
event that such Holder shall disapprove of any of the terms of the related
underwriting agreement, provided that, any such Holder shall use its good faith
efforts to advise the Company as promptly as practicable of its determination to
so withdraw.

         12.      Miscellaneous.

                  (a) No Inconsistent Agreements. The Company has not previously
entered into any agreement with respect to its Common Stock granting any
registration rights to any Person, and will not on or after the date of this
Agreement enter into any agreement with respect to its securities which grants
demand registration rights to anyone or which is inconsistent with the rights
granted to the Holders of Registrable Securities in this Agreement or otherwise
conflicts with the provisions hereof.

                  (b) Amendments and Waivers. The provisions of this Agreement,
including the provisions of this sentence, may not be amended, modified or
supplemented, and waivers or consents to departures from the provisions hereof
may not be given, unless such amendment, modification, supplement, waiver or
consent is approved in writing by the Holders of at least a majority of the
Registrable Securities and the Company.

                  (c) Registrable Securities Held by the Company. Whenever the
consent or approval of Holders of Registrable Securities is required pursuant to
this Agreement, Registrable Securities held by the Company shall not be counted
in determining whether such consent or approval was duly and properly given by
such Holders.

                  (d) Term. The agreements of the Company contained in this
Agreement shall continue in full force and effect so long as any Holder holds
any Registrable Securities.

                  (e) Remedies. In the event of a breach by the Company of its
obligations under this Agreement, each Holder, in addition to being entitled to
exercise all rights granted by law, including recovery of damages, will be
entitled to specific performance of its rights under this Agreement. The Company
agrees that monetary damages would not be adequate compensation for any loss
incurred by reason of a breach by it of any of the provisions of this Agreement
and hereby agrees to waive the defense in any action for specific performance
that a remedy at law would be adequate.

                  (f) Notices. Any notice provided for in this Agreement will be
in writing and will be deemed properly delivered if either personally delivered
or sent by overnight courier or telecopier or mailed (via first class),
certified or registered mail, return receipt requested, postage prepaid, to the
recipient at the address specified below:

                      (i)  if to a Holder, at such Holder's address on the stock
              transfer books of the Company; and

<PAGE>   13

                      (ii) if to the Company at:

                                            John L. Smucker
                                            c/o Merchant Financial, Inc.
                                            15450 East Jefferson
                                            Grosse Pointe Park, Michigan 48230
                                            (313-331-2563; fax 313-331-3921)

         and to:
                                            Colleen M. Spencer
                                            c/o Inmet Corporation
                                            300 Dino Drive
                                            Ann Arbor, Michigan 48243-1668
                                            (313-426-5553; fax 313-426-5557)

         with courtesy a copy to:

                                            Dykema Gossett PLLC
                                            400 Renaissance Center
                                            Detroit, Michigan 48243-1668
                                            (313-568-6800; fax 313-568-6915)
                                            Attention: J. Michael Bernard

and thereafter at such other address, notice of which is given in accordance
with the provisions of this Section 12(f). Any such notice shall be effective
(A) if delivered personally or by telecopy, when received, (B) if sent by
overnight courier, when receipted for, and (C) if mailed, three (3) days after
being mailed as described above.

                  (g) Successors and Assigns. This Agreement and the rights of
any Holder hereunder may be assigned to, and shall inure to the benefit of, any
Person to whom such Holder transfers Registrable Securities, provided that such
transfer is made in compliance with the provisions of the Stockholder Agreement
and the transferee agrees to be bound by all of the terms and conditions of this
Agreement by executing and delivering to the Company an Instrument of Accession.

                  (h) Counterparts. This Agreement may be executed in two or
more counterparts and by the parties hereto in separate counterparts, each of
which when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same instrument.

                  (i) Headings. The headings in this Agreement are for
convenience of reference only and shall not constitute a part of this Agreement,
nor shall they affect their meaning, construction or effect.

                  (j) Governing Law. The validity, performance, construction and
effect of this Agreement shall be governed by and construed in accordance with
the internal laws of the State of Michigan, without giving effect to principles
of conflicts of law.

                  (k) Severability. In the event that any one or more of the
provisions contained herein, or the application thereof in any circumstance, is
held invalid, illegal or unenforceable, the validity, legality and
enforceability of any such provision in every other respect and of the remaining
provisions contained herein shall not be affected or impaired thereby.

                  (l) Entire Agreement. This Agreement is intended by the
parties as a final expression of their agreement and intended to be a complete
and exclusive statement of the agreement and

<PAGE>   14

understanding of the parties hereto in respect of the subject matter contained
herein. There are no restrictions, promises, warranties or undertakings, other
than those set forth or referred to herein, with respect to the registration
rights granted by the Company with respect to the Registrable Securities. This
Agreement supersedes all prior agreements and understandings between the parties
with respect to such subject matter.

                            [Signature page follows.]

                  IN WITNESS WHEREOF, the parties have executed this Agreement
as an instrument under seal as of the date first written above.

                                     MICROWAVE COMPONENTS ENTERPRISES,
                               INC.

                                     By: /s/ John L. Smucker
                                        ---------------------------------
                                     Title: President

                                     HANIFEN IMHOFF MEZZANINE FUND, L.P.

                                     By:  HANIFEN IMHOFF CAPITAL
                        PARTNERS LLP, its General Partner

                                     By: /s/ Edward C. Brown
                                        ---------------------------------
                                     Title: Managing Partner

                                     NATIONAL CITY CAPITAL CORPORATION

                                     By: /s/ Richard J. Martinko
                                        ---------------------------------
                                     Title: Managing Director

<PAGE>   15

                                   SCHEDULE 1

                        TO REGISTRATION RIGHTS AGREEMENT

                             Instrument of Accession

                  Reference is made to that certain Registration Rights
Agreement dated as of July __, 1996, a copy of which is attached hereto (as
amended and in effect from time to time, the "Registration Rights Agreement"),
among Microwave Components Enterprises, Inc. (the "Company"), and the Holders
(as defined therein).

                  The undersigned, _________________________, in order to become
the owner or holder of shares of the Common Stock, without par value per share
(the "Shares") of the Company hereby agrees that by his execution hereof the
undersigned is a Holder party to the Registration Rights Agreement subject to
all of the restrictions and conditions applicable to Holders set forth in such
Registration Rights Agreement, and all of the Shares purchased by the
undersigned in connection herewith (and any and all shares of stock of the
Company issued in respect thereof) are subject to all the restrictions and
conditions applicable to Registrable Securities as set forth in the Registration
Rights Agreement. This Instrument of Accession shall take effect and shall
become a part of said Registration Rights Agreement immediately upon execution.

                  Executed as of the date set forth below under the laws of the
State of Michigan.

                             Signature:     ____________________________

                             Address:       ____________________________

                                                   _____________________________

                                                   _____________________________

                             Date:          ____________________________
Accepted:

MICROWAVE COMPONENTS ENTERPRISES, INC.

By:___________________________
Date:_________________________

<PAGE>   16

                FIRST AMENDMENT TO REGISTRATION RIGHTS AGREEMENT

                  THIS FIRST AMENDMENT TO REGISTRATION RIGHTS AGREEMENT, dated
as of October 17, 1997, is among MICROWAVE COMPONENTS ENTERPRISES, INC., a
Michigan corporation (the "Company"), HANIFEN IMHOFF MEZZANINE FUND, L.P.
("HI"), and NATIONAL CITY CAPITAL CORPORATION ("NCCC"; together with HI, the
"Holders", and each individually a "Holder").

                                WITNESSETH THAT:

                  WHEREAS, the Company and the Holders entered into a
Registration Rights Agreement, dated July 23, 1996 (the "Registration Rights
Agreement"); and

                  WHEREAS, the parties desire to amend the Registration Rights
Agreement as set forth herein;

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

                  1.  Effect of Amendment; Definitions.

                  The Registration Rights Agreement shall be and hereby is
amended as provided in Section 2 hereof. Except as expressly amended in Section
2 hereof, the Registration Rights Agreement shall continue in full force and
effect in accordance with its respective provisions on the date hereof. As used
in the Registration Rights Agreement, the terms "this Agreement", "herein",
"hereinafter", "hereto", "hereof", and words of similar import shall, unless the
context otherwise requires, mean the Registration Rights Agreement as amended
and modified by this Amendment.

                  2.  Amendments. The definition of "Warrants" in Section 1
of the Registration Rights Agreement shall be amended by deleting the same and
substituting in lieu thereof the following:

                      "Warrants" means (a) the Warrants issued to HI and
                  NCCC pursuant to the Purchase Agreement, (b) any other
                  "Warrants", as defined in each of such Warrants, and (c) any
                  warrants issued upon transfer, exchange or replacement
                  thereof.

                  3.  Miscellaneous.

                  (A) This Amendment shall be construed in accordance with and
governed by the laws of the State of Michigan, without reference to principles
of conflict of laws.

<PAGE>   17

                  (B) The execution, delivery and performance by the Holder of
this Amendment shall not constitute, or be deemed to be or construed as, a
waiver of any right, power or remedy of the Holder, or a waiver of any provision
of the Registration Rights Agreement.

                  (C) This Amendment may be executed in two or more
counterparts, each of which shall constitute an original, but all of which, when
taken together, shall constitute but one instrument. The Company agrees to pay
on demand all costs and expenses of the Holder, including reasonable attorneys'
fees and expenses, in connection with the preparation, execution and delivery of
this Amendment.

                  IN WITNESS WHEREOF, the parties have caused this Amendment to
be duly executed as of the day and year first above written.

                                        MICROWAVE COMPONENTS ENTERPRISES, INC.

                                        By: /s/ John L. Smucker
                                           -------------------------------------

                                        Print Name: John L. Smucker
                                                   -----------------------------

                                        Title:  President
                                              ----------------------------------

                                        NATIONAL CITY CAPITAL CORPORATION

                                        By: /s/ Richard J. Martinko
                                           -------------------------------------

                                        Print Name:  Richard J. Martinko
                                                   -----------------------------

                                        Title:  Managing Director
                                              ----------------------------------

                                        HANIFEN IMHOFF MEZZANINE FUND, L.P.

                                        By: /s/ Edward C. Brown
                                           -------------------------------------

                                        Print Name: Edward C. Brown
                                                   -----------------------------

                                        Title: Managing Partner
                                              ----------------------------------

                                      -2-
<PAGE>   18

                SECOND AMENDMENT TO REGISTRATION RIGHTS AGREEMENT

                  THIS SECOND AMENDMENT TO REGISTRATION RIGHTS AGREEMENT, dated
as of October 13, 2000, is among MCE COMPANIES, INC., a Michigan corporation
and formerly known as MICROWAVE COMPONENTS ENTERPRISES, INC. (the "Company"),
HANIFEN IMHOFF MEZZANINE FUND, L.P. ("HI"), and NATIONAL CITY CAPITAL
CORPORATION ("NCCC"; together with HI, the "Holders", and each individually a
"Holder").

                                WITNESSETH THAT:

                  WHEREAS, the Company and the Holders entered into a
Registration Rights Agreement, dated July 23, 1996, as amended by the First
Amendment to Registration Rights Agreement (the "Registration Rights
Agreement"); and

                  WHEREAS, the parties desire to amend the Registration Rights
Agreement as set forth herein;

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

                  1.       Effect of Amendment; Definitions.

                  Effective upon the closing of the IPO contemplated by
that certain Equity Underwriting Agreement to be entered into by the Company,
certain warrantholders and the several underwriters named therein, the
Registration Rights Agreement shall be and hereby is amended as provided in
Section 2 hereof. Except as expressly amended in Section 2 hereof, the
Registration Rights Agreement shall continue in full force and effect in
accordance with its respective provisions on the date hereof. As used in the
Registration Rights Agreement, the terms "this Agreement", "herein",
"hereinafter", "hereto", "hereof", and words of similar import shall, unless the
context otherwise requires, mean the Registration Rights Agreement as amended
and modified by this Amendment.

                  2.       Amendments.

                  (A) The definition of "Registrable Securities" in Section 1 of
the Registration Rights Agreement shall be amended by deleting clause (b)
thereof and substituting in lieu thereof:

                           "(b) all shares of Common Stock issued to or
                  purchased by any of the Holders from time to time other than
                  upon exercise of any of the Warrants, including any shares of
                  Common Stock issued in connection with any conversion,
                  exchange, surrender, conveyance, cancellation or release of
                  any of the Warrants or other transaction involving any of the
                  Warrants, and all warrants and options of any of the Holders
                  that may be exercised for Common Stock,"

                   (B) The definition of "Warrants" in Section 1 of the
Registration Rights Agreement shall be amended by deleting the same and
substituting in lieu thereof the following:

                           ""Warrants" means (a) the Warrants issued to HI and
                  NCCC pursuant to the Purchase Agreement, (b) any other
                  "Warrants", as defined in each of such Warrants, and (c) any
                  warrants issued upon transfer, exchange or replacement
                  thereof, all as the same may be amended, modified or
                  supplemented from time to time."

<PAGE>   19

                  (C) The second sentence of Section 2(a)(i) of the Registration
Rights Agreement shall be amended by inserting the phrase "and after" between
the words "upon" and "the".

                  (D) Section 2(b)(ii) of the Registration Rights Agreement
shall be amended by deleting the same and inserting in lieu thereof the
following:

                  "(ii) The Holders will not be entitled to require the Company
to effect more than four (4) Demand Registrations."

                  (E) Section 7(a) of the Registration Rights Agreement shall be
amended by inserting the following sentence after the end of the first sentence
in Section 7(a):

                  "Notwithstanding the foregoing sentence, in the event that the
                  Holders have initiated two Demand Registrations that have both
                  resulted in Registrations that have become effective and that
                  count as Demand Registrations for purposes of Sections 2(b)(i)
                  and (ii) of this Agreement, the Registration Expenses incurred
                  in connection with any subsequent Demand Registration under
                  this Agreement shall be borne and paid pro rata by the
                  Holders, the Company and any other persons that include any
                  securities in that Registration, if and to the extent
                  permitted under Section 2(c) of this Agreement, on the basis
                  of the number of Registrable Securities so registered by each
                  of them."

                  3.       Miscellaneous.

                  (A) This Amendment shall be construed in accordance with and
governed by the laws of the State of Michigan, without reference to principles
of conflict of laws.

                  (B) The execution, delivery and performance by the Holder of
this Amendment shall not constitute, or be deemed to be or construed as, a
waiver of any right, power or remedy of the Holder, or a waiver of any provision
of the Registration Rights Agreement.

                  (C) This Amendment may be executed in two or more
counterparts, each of which shall constitute an original, but all of which, when
taken together, shall constitute but one instrument. The Company agrees to pay
on demand all costs and expenses of the Holder, including reasonable attorneys'
fees and expenses, in connection with the preparation, execution and delivery of
this Amendment.

<PAGE>   20

                  IN WITNESS WHEREOF, the parties have caused this Amendment to
be duly executed as of the day and year first above written.

                        MCE COMPANIES, INC.

                        By: /s/ John L. Smucker
                            -------------------------------
                        Title:  President

                        NATIONAL CITY CAPITAL CORPORATION

                        By: /s/ Richard J. Martinko
                            -------------------------------
                        Title:  Managing Director

                        HANIFEN IMHOFF MEZZANINE FUND, L.P.

                        By: HANIFEN IMHOFF CAPITAL
                               PARTNERS LLP, its General Partner

                        By:  /s/ Stephen N. Sangalis
                            -------------------------------
                        Title:   Attorney-In-Fact

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