Document:

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                                                                    EXHIBIT 10.4

                  COLLATERAL AGENCY AND INTERCREDITOR AGREEMENT

          COLLATERAL AGENCY AND INTERCREDITOR AGREEMENT dated as of September
15, 2003, among: CHART INDUSTRIES, INC.; JPMORGAN CHASE BANK, as Revolving
Credit Agent under the Revolving Credit Agreement referred to below; JPMORGAN
CHASE BANK, as Term Loan Agent under the Term Loan Agreement referred to below;
and JPMORGAN CHASE BANK, in its capacity as Collateral Agent hereunder and under
the other Collateral Documents (all capitalized terms used without being defined
in this preamble and in the recitals below shall have the meanings provided for
in Section 1).

                                    RECITALS

          WHEREAS, the Borrower, certain of its Subsidiaries as guarantors, the
lenders party thereto and JPMorgan Chase Bank (formerly known as The Chase
Manhattan Bank), as administrative agent for such lenders, are parties to a
Credit Agreement dated as of April 12, 1999 (as heretofore amended, supplemented
or otherwise modified, the "1999 Credit Agreement") pursuant to which such
lenders extended credit (by means of making loans and the issuance of letters of
credit) to or for account of the Borrower and certain of its subsidiaries;

          WHEREAS, the Borrower and the Subsidiary Guarantors have secured all
of their respective obligations under or in respect of the 1999 Credit
Agreement, including principal, interest, fees, expenses, indemnities and
reimbursement obligations, and certain other obligations owing to the lenders
(and their affiliates), by granting in favor of such administrative agent, for
the benefit of itself and such lenders and affiliates, a security interest in
and lien upon substantially all of their existing and after-acquired personal
and real property pursuant to a Security Agreement dated as of April 12, 1999
(as heretofore amended, supplemented or otherwise modified, the "1999 Security
Agreement") and certain other security agreements, pledge agreements, mortgages,
deeds of trust and other similar instruments and agreements entered into from
time to time pursuant to the 1999 Credit Agreement, each as in effect on the
date hereof;

          WHEREAS, on July 8, 2003 the Borrower and the Subsidiary Guarantors
filed a voluntary petition with the United States Bankruptcy Court for the
District of Delaware (the "Bankruptcy Court") initiating cases under chapter 11
of the Bankruptcy Code (the "Cases") and continued in their possession of their
respective assets and in the management of their respective businesses pursuant
to Sections 1107 and 1108 of the Bankruptcy Code;

          WHEREAS, the Borrower and the Subsidiary Guarantors party thereto
(each as debtor and debtor in possession under chapter 11 of the Bankruptcy
Code), the lenders party

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thereto and JPMorgan Chase Bank, as administrative agent for such lenders, are
party to a Revolving Credit Agreement dated as of July 17, 2003 (as heretofore
amended, supplemented or otherwise modified, the "DIP Credit Agreement"),
providing for revolving credit loans and letters of credit to the Borrower
(including the continuation of the outstanding letters of credit issued for
account of the Borrower under the 1999 Credit Agreement) in an aggregate
principal or face amount not exceeding $40,000,000, and pursuant to an order of
the Bankruptcy Court all obligations of the Borrower and the Subsidiary
Guarantors in respect of the DIP Credit Agreement, including principal,
interest, fees, expenses, indemnities and reimbursement obligations are secured
by a first-priority security interest in and lien upon their respective existing
and after-acquired personal and real property;

          WHEREAS, the Borrower and the Subsidiary Guarantors have filed a plan
of reorganization with the Bankruptcy Court which has been confirmed by a final
order of the Bankruptcy Court entered on September 4, 2003 (as supplemented from
time to time, the "Reorganization Plan"). Pursuant to the Reorganization Plan,
the Borrower and the Subsidiary Guarantors are concurrently herewith entering
into: (a) an Amended and Restated Revolving Credit Agreement dated as of
September 15, 2003 (as from time to time amended, restated, supplemented,
deferred, renewed, extended, increased, refunded, refinanced, replaced or
otherwise modified (including any agreement extending the maturity thereof or
(subject to the restrictions under this Agreement) increasing the amount of
available borrowings thereunder or adding any borrowers or guarantors
thereunder, whether with the original agents and lenders or otherwise and
whether provided under the original credit agreement or other credit agreements
or otherwise, the "Revolving Credit Agreement") with the lenders party to the
DIP Credit Agreement as of the date hereof and JPMorgan Chase Bank, as
administrative agent for such lenders (in such capacity, including any other
Person serving in such capacity thereunder or under any refinancing or
replacement thereof, the "Revolving Credit Agent"), which will amend and restate
the DIP Credit Agreement and provide for revolving credit loans and letters of
credit to or for account of the Borrower (and the continuation of the revolving
credit loans and letters of credit made, continued or issued under the DIP
Credit Agreement and the continuation of the letters of credit issued under the
1999 Credit Agreement for account of CHEL, in each case outstanding on the date
thereof) in an aggregate principal or face amount not exceeding $40,000,000; and
(b) a Term Loan Agreement dated as of September 15, 2003 (as from time to time
amended, restated, supplemented, deferred, renewed, extended, increased,
refunded, refinanced, replaced or otherwise modified (including any agreement
extending the maturity thereof or increasing the amount of available borrowings
thereunder or adding any borrowers or guarantors thereunder, whether with the
original agents and lenders or otherwise and whether provided under the original
credit agreement or other credit agreements or otherwise), the "Term Loan
Agreement" and, together with the Revolving Credit Agreement, the "Credit
Agreements") with the lenders party to the 1999 Credit Agreement as of the date
hereof and JPMorgan Chase Bank, as administrative agent for such lenders (in
such capacity, including any other Person serving in such capacity thereunder or
under any refinancing or replacement thereof, the "Term Loan Agent"), pursuant
to which the outstanding obligations (including principal, accrued interest and
fees) of the Borrower and the Subsidiary Guarantors under and in respect of the
1999 Credit Agreement (other than the obligations in respect of the letters of
credit issued thereunder for account of the Borrower that were continued under
the DIP Credit Agreement and other than the obligations in respect of the
letters of credit originally issued by Bank One, NA under the

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                                      -3-

1999 Credit Agreement for account of CHEL that are being continued under the
Revolving Credit Agreement) shall be restructured into term loans held by such
lenders in an aggregate principal amount of $120,000,000;

          WHEREAS, pursuant to the Reorganization Plan, the existing security
interests in and liens upon the property of the Borrower and Subsidiary
Guarantors granted under the DIP Credit Agreement and the 1999 Security
Agreement (and such other existing security agreements, pledge agreements,
mortgages, deeds of trust and other similar instruments and agreements entered
into pursuant to the 1999 Credit Agreement) will continue in effect, and the
Borrower and/or the Subsidiary Guarantors may hereafter from time to time enter
into new security agreements, pledge agreements, mortgages, deeds of trust and
other similar instruments and agreements in respect of other of their respective
property, in each case as collateral security for the Revolving Credit
Obligations and the Term Loan Obligations, and in that connection the 1999
Security Agreement and such other existing agreements and instruments will be
amended, restated and/or supplemented by the parties thereto in connection with
the entering into of the Credit Agreements; and

          WHEREAS, the Revolving Credit Agent, acting on behalf of the holders
of the Revolving Credit Obligations, and the Term Loan Agent, acting on behalf
of the holders of the Term Loan Obligations, are entering into this Agreement in
order to, among other things, (a) acknowledge, confirm and appoint JPMorgan
Chase Bank as collateral agent to act (and to continue to act) on their behalf
in accordance with the provisions of the Collateral Documents, (b) confirm that
the rights of the holders of the Revolving Credit Obligations in the Collateral
have priority over the rights of the holders of the Term Loan Obligations
therein and (c) provide for the relative rights of the holders of the Revolving
Credit Obligations, on the one hand, and the holders of the Term Loan
Obligations, on the other hand, in connection with the enforcement of their
rights and remedies in respect of the Collateral, and upon execution and
delivery of this Agreement by the Revolving Credit Agent and the Term Loan Agent
this Agreement shall be binding on all of the holders of the Revolving Credit
Obligations and the Term Loan Obligations.

          NOW, THEREFORE, in consideration of the foregoing and the mutual
covenants herein contained, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
hereby agree as follows:

          SECTION 1. Definitions.

          1.01. Definitions. Unless otherwise indicated, terms defined in the
Revolving Credit Agreement or (following the termination of the Revolving Credit
Agreement) the Term Loan Agreement are used herein as defined therein. In
addition, as used herein:

          "Applicable Percentage" means, with respect to any Lender, the
     percentage of the sum of, without duplication, (a) the aggregate unused
     commitments, if any, of such Lender under the Credit Agreements, (b) the
     aggregate principal amount of the Secured Obligations held by such Lender
     and (c) the aggregate amount of such Lender's participation interest in all
     letters of credit, if any, outstanding under the Credit Agreements and the
     aggregate outstanding unreimbursed amount in respect of drawings under such
     letters of credit.

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          "Borrower" means Chart Industries, Inc., a Delaware corporation.

          "Cash Management Obligations" means, with respect to any Person, all
     obligations of such Person in respect of overdrafts and related liabilities
     owed to any other Person that arise from treasury, depositary or cash
     management services in connection with any automated clearing house
     transfers of funds or any similar transactions.

          "Collateral" means all of the assets of any Obligor, whether real,
     personal or mixed, with respect to which a Lien is granted as security for
     any Secured Obligation and as in effect.

          "Collateral Documents" means the Security Documents (as defined in
     each of the Revolving Credit Agreement and the Term Loan Agreement) and any
     other agreement, document or instrument pursuant to which a Lien is granted
     securing any Secured Obligations or under which rights or remedies with
     respect to such Liens are governed.

          "Credit Agreements" has the meaning assigned to such term in the
     recitals of this Agreement.

          "Credit Documents" means, collectively, the Revolving Credit Documents
     and the Term Loan Documents.

          "Default Event" means the occurrence and continuance of an Event of
     Default under and as defined in either Credit Agreement.

          "Enforcement Action" has the meaning assigned to such term in Section
     4.05(a).

          "Insolvency Proceeding" means (a) any insolvency or bankruptcy case or
     proceeding, or any receivership, liquidation, reorganization or other
     similar case or proceeding relative to the Borrower, any other Obligor, or
     any of their property or assets, or (b) any liquidation, dissolution,
     reorganization or winding up of the Borrower or any other Obligor, whether
     voluntary or involuntary and whether or not involving insolvency or
     bankruptcy, or (c) any assignment for the benefit of creditors or any other
     marshaling of assets and liabilities of the Borrower or any other Obligor.

          "Lenders" means, collectively, the Revolving Credit Lenders and the
     Term Lenders.

          "Lien" means, with respect to any asset, (a) any mortgage, deed of
     trust, lien, pledge, hypothecation, encumbrance, charge or security
     interest in, on or of such asset, (b) the interest of a vendor or a lessor
     under any conditional sale agreement, capital lease or title retention
     agreement (or any financing lease having substantially the same economic
     effect as any of the foregoing) relating to such asset and (c) in the case
     of securities, any purchase option, call or similar right of a third party
     with respect to such securities.

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          "Obligors" means the Borrower and the Subsidiary Guarantors, whether
     as a borrower or a guarantor.

          "Person" means any natural person, corporation, limited liability
     company, trust, joint venture, association, company, partnership, entity or
     other party, including any government and any political subdivision, agency
     or instrumentality thereof.

          "Required Revolving Credit Lenders" means the "Required Lenders" as
     defined in the Revolving Credit Agreement.

          "Required Secured Parties" means either (a) initially and until the
     Senior Lien Termination Date, the Required Revolving Credit Lenders or (b)
     thereafter, the Required Term Lenders.

          "Required Term Lenders" means the "Required Lenders" as defined in the
     Term Loan Agreement.

          "Revolving Credit Agent" has the meaning assigned to such term in the
     recitals of this Agreement.

          "Revolving Credit Agreement" has the meaning assigned to such term in
     the recitals of this Agreement.

          "Revolving Credit Documents" means the "Credit Documents" (as defined
     in the Revolving Credit Agreement) and shall include each of the
     agreements, documents and instruments providing for or evidencing a
     Revolving Credit Obligation.

          "Revolving Credit Lenders" means the lenders party from time to time
     to the Revolving Credit Agreement.

          "Revolving Credit Obligations" means, collectively, (a) in the case of
     the Borrower, all obligations in respect of the loans and other extensions
     of credit to the Borrower under the Revolving Credit Agreement and all
     other amounts whatsoever now or hereafter arising from time to time owing
     to the Revolving Credit Lenders or the Revolving Credit Agent by any
     Obligor under the Revolving Credit Documents (including, without
     limitation, principal, premium (if any), interest (including interest
     accruing on or after the filing of any petition in bankruptcy or for
     reorganization relating to the Borrower whether or not a claim for
     post-filing interest is allowed in such proceedings), fees, charges,
     expenses, indemnities, reimbursement obligations, guarantees and all other
     amounts payable thereunder or in respect thereof), (b) all Cash Management
     Obligations owing by any Obligor to any Revolving Credit Lender (or any
     affiliate thereof), (c) in the case of the Subsidiary Guarantors, all
     present and future obligations of the Subsidiary Guarantors under the
     Revolving Credit Agreement and the other Revolving Credit Documents
     (including, without limitation, in respect of their respective guarantee
     under the Revolving Credit Agreement) and (d) all present and future
     obligations of the Obligors to the Revolving Credit Lenders and the
     Revolving Credit Agent hereunder. To the extent any payment with respect to
     the Revolving Credit

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     Obligations (as proceeds of security, enforcement of any right of setoff or
     otherwise) is declared to be fraudulent or preferential, set aside or
     required to be paid to a trustee, receiver or similar person, then such
     payment or part thereof originally intended to be satisfied shall be deemed
     to be reinstated and outstanding as if such payment had not occurred.

          "Secured Obligations" means (a) the Revolving Credit Obligations, (b)
     the Term Loan Obligations and (c) all present and future obligations of the
     Obligors to the Collateral Agent hereunder and under the other Collateral
     Documents.

          "Secured Parties" means the Revolving Credit Lenders, the Revolving
     Credit Agent, the Term Lenders, the Term Loan Agent, the Collateral Agent
     and any other holder of Secured Obligations.

          "Senior Lien Termination Date" means the date on which all Revolving
     Credit Obligations (other than contingent indemnity obligations) shall have
     been paid in full up to but not exceeding the then maximum principal or
     face amount of the Revolving Credit Obligations entitled to the Lien
     priorities under Section 5.01 (as determined in accordance with Section
     3.04).

          "Subsidiary Guarantor" means any Subsidiary of the Borrower that
     guarantees any of the Secured Obligations.

          "Supermajority Lenders" means, with respect to any Credit Agreement,
     Lenders party to such Credit Agreement having more than 66-2/3% of the sum
     of, without duplication, (a) the aggregate unused commitments, if any,
     under such Credit Agreement, (b) the aggregate outstanding principal amount
     of the Secured Obligations under such Credit Agreement and (c) the
     aggregate undrawn amount of all letters of credit, if any, outstanding
     under such Credit Agreement and the aggregate outstanding unreimbursed
     amount in respect of drawings under such letters of credit.

          "Term Lenders" means the lenders party from time to time to the Term
     Loan Agreement.

          "Term Loan Agent" has the meaning assigned to such term in the
     recitals of this Agreement.

          "Term Loan Agreement" has the meaning assigned to such term in the
     recitals of this Agreement.

          "Term Loan Documents" meaning the "Credit Documents" (as defined in
     the Term Loan Agreement) and shall include each of the agreements,
     documents and instruments providing for or evidencing a Term Loan
     Obligation.

          "Term Loan Obligations" means, collectively, (a) in the case of the
     Borrower, all obligations in respect of the loans and other extensions of
     credit to the Borrower under the Term Loan Agreement and all other amounts
     whatsoever now or hereafter arising

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     from time to time owing to the Term Lenders or the Term Loan Agent by the
     Borrower or any other Obligor under the Term Loan Documents (including,
     without limitation, principal, premium (if any), interest(including
     interest accruing on or after the filing of any petition in bankruptcy or
     for reorganization relating to the Borrower whether or not a claim for
     post-filing interest is allowed in such proceedings), fees, charges,
     expenses, indemnities, reimbursement obligations, guarantees and all other
     amounts payable thereunder or in respect thereof), (b) in the case of the
     Subsidiary Guarantors, all present and future obligations of the Subsidiary
     Guarantors under the Term Loan Agreement and the other Term Loan Documents
     (including, without limitation, in respect of their respective guarantee
     under the Term Loan Agreement) and (c) all present and future obligations
     of the Obligors to the Term Lenders and the Term Loan Agent hereunder. To
     the extent any payment with respect to the Term Loan Obligations (as
     proceeds of security, enforcement of any right of setoff or otherwise) is
     declared to be fraudulent or preferential, set aside or required to be paid
     to a trustee, receiver or similar person, then such payment or part thereof
     originally intended to be satisfied shall be deemed to be reinstated and
     outstanding as if such payment had not occurred.

          "Uniform Commercial Code" or "UCC" means the Uniform Commercial Code
     as from time to time in effect in the State of New York.

          1.02. Terms Generally. The definitions of terms herein shall apply
equally to the singular and plural forms of the terms defined. Whenever the
context may require, any pronoun shall include the corresponding masculine,
feminine and neuter forms. The words "include", "includes" and "including" shall
be deemed to be followed by the phrase "without limitation". The word "will"
shall be construed to have the same meaning and effect as the word "shall".
Unless the context requires otherwise (i) any definition of or reference to any
agreement, instrument or other document herein shall be construed as referring
to such agreement, instrument or other document as from time to time amended,
supplemented or otherwise modified (subject to any restrictions on such
amendments, supplements or modifications set forth herein), (ii) any reference
herein to any Person shall be construed to include such Person's successors and
assigns, (iii) the words "herein", "hereof" and "hereunder", and words of
similar import, shall be construed to refer to this Agreement in its entirety
and not to any particular provision hereof, (iv) all references herein to
Articles, Sections, Exhibits and Schedules shall be construed to refer to
Articles and Sections of, and Exhibits and Schedules to, this Agreement, (v) the
words "asset" and "property" shall be construed to have the same meaning and
effect and to refer to any and all tangible and intangible assets and
properties, including cash, securities, accounts and contract rights and (vi)
the phrases "payment in full," "paid in full" and any other similar terms or
phrases when used herein with respect to any Revolving Credit Obligations shall
mean the final payment in full in cash of all such Revolving Credit Obligations
(other than contingent indemnity obligations of the Borrower or any other
Obligor that shall survive payment in full) or the receipt by the holders of
such Revolving Credit Obligations of such securities or other property as are
acceptable to such holders in their sole discretion and that, at such time,
there shall no longer be any obligation to make loans or advances or issue
letters of credit (or guaranties in respect thereof) thereunder and there shall
no longer be any letter of credit (or guaranty in respect thereof) outstanding
thereunder or such letter of credit (or guaranty in respect thereof) shall have
been fully cash collateralized (in accordance with the provisions of

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                                      -8-

the Revolving Credit Documents or otherwise on terms satisfactory to the
Revolving Credit Agent in its sole discretion).

          SECTION 2. Collateral Agent.

          2.01. Appointment of the Collateral Agent. Each of the Revolving
Credit Agent, acting on instructions from the Revolving Credit Lenders, and the
Term Loan Agent, acting on instructions from the Term Lenders, hereby
irrevocably designates and appoints the Collateral Agent to act as its agent
hereunder and the other Collateral Documents, and authorizes the Collateral
Agent to take such actions on its behalf under the provisions of this Agreement
and the other Collateral Documents and to exercise such powers and perform such
duties as are expressly delegated to the Collateral Agent by the terms of this
Agreement and the other Collateral Documents, together with such other powers as
are reasonably incidental thereto. Notwithstanding any provision to the contrary
elsewhere in this Agreement and the other Collateral Documents, the Collateral
Agent shall not have any duties or responsibilities, except those expressly set
forth in this Agreement and the other Collateral Documents, and no implied
covenants, functions or responsibilities fiduciary or otherwise shall be read
into this Agreement, the other Collateral Documents or otherwise exist against
the Collateral Agent.

          2.02. Limitations on Responsibility of the Collateral Agent.

          (a) Except as otherwise provided hereunder, the Collateral Agent shall
take such action with respect to the Collateral Documents as shall be directed
by the Required Secured Parties, subject to the terms and conditions of the
relevant Collateral Documents. If the Collateral Agent has been requested by the
Required Secured Parties to take any specific action pursuant to any provision
of this Agreement, the Collateral Agent shall not be under any obligation to
exercise any of the rights or powers vested in it by this Agreement in the
manner so requested unless, if so requested by the Collateral Agent, it shall
have been provided indemnity satisfactory to it against the costs, expenses and
liabilities which may be incurred by it in compliance with such request or
direction.

          (b) Neither the Collateral Agent nor any of its officers, directors,
employees, agents, attorneys-in-fact or affiliates shall be (i) liable to any of
the Secured Parties for any action lawfully taken or omitted to be taken by it
under or in connection with any Collateral Document (except for its gross
negligence or willful misconduct), or (ii) responsible in any manner to any of
the Secured Parties for any recitals, statements, representations or warranties
made by any Obligor or any representative thereof contained in any Credit
Document, or in any certificate, report, statement or other document referred to
or provided for in, or received by the Collateral Agent under or in connection
with, any Credit Document or for the value, validity, effectiveness,
genuineness, enforceability or sufficiency of the Credit Documents or for any
failure of any Obligor to perform its respective obligations thereunder. The
Collateral Agent as such shall not be under any obligation to any Secured Party
to ascertain or to inquire as to the observance or performance of any of the
agreements contained in, or conditions of, any Credit Document, or to inspect
the properties, books or records of the Borrower and its Subsidiaries.

          (c) The Collateral Agent makes no representations as to the value or
condition of the Collateral or any part thereof, as to the title of the Borrower
or any other Obligor to the

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Collateral, as to the security afforded by this Agreement or any other
Collateral Document or, as to the validity, execution, enforceability, legality
or sufficiency of this Agreement or any other Collateral Document, and the
Collateral Agent shall incur no liability or responsibility in respect of any
such matters. The Collateral Agent shall not be responsible for insuring the
Collateral, for the payment of taxes, charges, assessments or liens upon the
Collateral or otherwise as to the maintenance of the Collateral. The Collateral
Agent shall have no duty to the Borrower, any other Obligor, or to the holders
of any of the Secured Obligations as to any Collateral in its possession or
control or in the possession or control of any agent or nominee of the
Collateral Agent or any income thereon or as to the preservation of rights
against prior parties or any other rights pertaining thereto, except the duty to
accord such of the Collateral as may be in its possession substantially the same
care as it accords its own assets and the duty to account for monies received by
it.

          (d) The Collateral Agent will give notice to the Secured Parties of
any action to be taken by it under any Collateral Document; such notice shall be
given prior to the taking of such action to the extent practicable unless the
Collateral Agent determines that to do so would be detrimental to the interests
of the Secured Parties, in which event such notice shall be given promptly after
the taking of such action.

          2.03. Reliance by the Collateral Agent; Etc.

          (a) The Collateral Agent may execute any of its duties under the
Collateral Documents by or through agents or attorneys-in-fact and shall be
entitled to advice of counsel concerning all matters pertaining to such duties.

          (b) The Collateral Agent shall be entitled to rely conclusively upon
any note, writing, resolution, notice, consent, certificate, affidavit, letter,
telecopy, electronic mail message, telex or teletype message, statement, order
or other document or conversation reasonably believed by it to be genuine and
correct and to have been signed, sent or made by the proper Person or Persons
and upon advice and statements of legal counsel, independent accountants and
other experts selected by the Collateral Agent.

          (c) As to any matters not expressly provided for by this Agreement or
the other Collateral Documents, the Collateral Agent shall not be required to
take any action or exercise any discretion, but shall be required to act or to
refrain from acting upon instructions of the Required Secured Parties and shall
in all such cases be fully protected in acting, or in refraining from acting,
hereunder or under any Collateral Document in accordance with the instructions
of the Required Secured Parties, and such instructions of the Required Secured
Parties and any action taken or failure to act pursuant thereto shall be binding
on all of the Secured Parties.

          (d) The Collateral Agent shall not be deemed to have knowledge or
notice of the occurrence of a Default Event unless the Collateral Agent has
received written notice from a Secured Party or the Borrower referring to this
Agreement, describing such Default Event and stating that such notice is a
"Notice of Default Event". In the event that the Collateral Agent receives such
a notice of the occurrence of a Default Event, the Collateral Agent shall
promptly give notice thereof to the Secured Parties. The Collateral Agent shall
take such action with respect to such Default Event as so directed pursuant to
Section 4; provided that, unless and until

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the Collateral Agent shall have received such directions, the Collateral Agent
may (but shall not be obligated to) take such action, or refrain from taking
such action, with respect to such Default Event as it shall deem advisable in
the best interest of the Required Secured Parties.

          2.04. Expenses; Fees.

          (a) The Borrower agrees to pay upon demand to the Collateral Agent the
amount of any and all out-of-pocket expenses, including the reasonable fees and
expenses of its counsel (and any local counsel) and of any experts and agents,
which the Collateral Agent may incur in connection with (i) the administration
of the Collateral Documents, (ii) the custody or preservation of, or the sale
of, collection from, or other realization upon, any of the Collateral, (iii) the
exercise or enforcement (whether through negotiations, legal proceedings or
otherwise) of any of the rights of the Collateral Agent or the Secured Parties
under the Collateral Documents or (iv) the failure by the Borrower or any other
Obligor to perform or observe any of the provisions of the Collateral Documents

          (b) The Borrower further agrees to pay to the Collateral Agent for its
own account, a non-refundable collateral agency fee as agreed in writing between
the Borrower and the Collateral Agent at the times and in the amounts set forth
therein.

          2.05. Indemnification.

          (a) The Borrower shall indemnify the Collateral Agent and each of its
Related Parties (each such Person being called an "Indemnitee") against, and to
hold each Indemnitee harmless from, any and all losses, claims, damages,
liabilities and related expenses, including the fees, charges and disbursements
of any counsel for any Indemnitee, incurred by or asserted against any
Indemnitee arising out of, in connection with, or as a result of (i) the
execution or delivery of this Agreement, any other Collateral Document or any
other agreement or instrument contemplated hereby or thereby, the performance by
the parties hereto or thereto of their respective obligations hereunder or
thereunder or the consummation of the Transactions or any other transactions
contemplated hereby or thereby, (ii) any actual or alleged presence, release or
threatened release of Hazardous Materials relating to any property owned or
operated by the Borrower or any of its Subsidiaries, or any violation,
non-compliance with or liability under any Environmental Law related in any way
to the Borrower or any of its Subsidiaries or any of its respective property, or
(iii) any actual or prospective claim, litigation, investigation or proceeding
relating to any of the foregoing, whether based on contract, tort or any other
theory and regardless of whether any Indemnitee is a party thereto; provided
that such indemnity shall not, as to any Indemnitee, be available to the extent
that such losses, claims, damages, liabilities or related expenses are
determined by a court of competent jurisdiction by final and nonappealable
judgment to have resulted from the gross negligence or willful misconduct of
such Indemnitee or any Related Party.

          (b) To the extent that the Borrower fails to pay any amount required
to be paid by it to any Indemnitee under paragraph (a) of this Section 2.05,
each Lender severally agrees to pay to such Indemnitee such Lender's Applicable
Percentage (determined as of the time that the applicable unreimbursed expense
or indemnity payment is sought) of such unpaid amount; provided that the
unreimbursed expense or indemnified loss, claim, damage, liability or related

                  Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -11-

expense, as the case may be, was incurred by or asserted against the Collateral
Agent in its capacity as such, and provided further that such indemnity shall
not be available to any Indemnitee to the extent that such losses, claims,
damages, liabilities or related expenses are determined by a court of competent
jurisdiction by final and nonappealable judgment to have resulted from the gross
negligence or willful misconduct of such Indemnitee.

          (c) To the extent permitted by law, no Indemnitee shall be responsible
or liable to any other party to any Collateral Document or the Credit Document
or any successor, assignee or third party beneficiary of such person or any
other person asserting claims derivatively through such party, for indirect,
punitive, exemplary or consequential damages which may be alleged as a result of
credit having been extended, suspended or terminated under any Collateral
Documents or the Credit Document or as a result of any other transaction
contemplated hereunder or thereunder.

          2.06. Resignation of the Collateral Agent. The Collateral Agent may at
any time resign as the Collateral Agent upon 30 days' prior written notice to
the Secured Parties and the Borrower, with such resignation to become effective
only upon the appointment of a successor Collateral Agent under this Section
2.06. Upon any such resignation, the Required Secured Parties shall have the
right to appoint a successor Collateral Agent, which successor Collateral Agent
shall be reasonably acceptable to the Borrower; provided that the Borrower shall
have no right of acceptance or consent in respect of a successor Collateral
Agent upon and during the continuance of a Default Event. If no such successor
shall have been appointed within 30 days of the Collateral Agent's resignation,
the Collateral Agent may appoint a successor Collateral Agent, which shall be a
Revolving Credit Lender (or an affiliate thereof). Upon the acceptance of any
appointment as the Collateral Agent hereunder by a successor Collateral Agent,
such successor Collateral Agent shall succeed to the rights, powers and duties
of the former Collateral Agent, and the term "Collateral Agent" shall mean such
successor Collateral Agent effective upon its appointment, and the former
Collateral Agent's rights, powers and duties as Collateral Agent shall be
terminated, without any other or further act or deed on the part of such former
Collateral Agent (except that the former Collateral Agent shall deliver all
Collateral then in its possession to the successor Collateral Agent) or any of
the other Secured Parties. After resignation hereunder as the Collateral Agent,
the provisions of this Agreement shall inure to the former Collateral Agent's
benefit as to any actions taken or omitted to be taken by it while it was the
Collateral Agent.

          2.07. Power of Attorney. Without limiting any rights or powers granted
by this Agreement to the Collateral Agent, the Collateral Agent is hereby
appointed the attorney-in-fact of each other Secured Party for the purpose of
carrying out the provisions of the Collateral Documents and taking any action
and executing any instruments that the Collateral Agent may deem necessary or
advisable to accomplish the purposes hereof, including any release of the Liens
on the Collateral to the extent permitted under Section 6.01, which appointment
as attorney-in-fact is irrevocable and coupled with an interest.

          2.08. Notices under the Credit Agreements. The Borrower agrees to
deliver to the Collateral Agent (if the Person serving as the Collateral Agent
is not also at the time serving as the Revolving Credit Agent or the Term Loan
Agent), concurrently with the delivery thereof to the Revolving Credit Agent
and/or the Term Loan Agent, copies of all notices with respect to

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<PAGE>

                                      -12-

any Default Event and all notices, documents and other instruments with respect
to the Collateral, in each case delivered by the Borrower or any other Obligor
under or pursuant to the Revolving Credit Agreement and the Term Loan Agreement,
respectively

          SECTION 3. Lien Priorities.

          3.01. Lien Subordination. Notwithstanding the date, manner or order of
grant, attachment or perfection of any Liens granted to the Collateral Agent for
the Term Loan Agent and the Term Lenders on the Collateral or of any Liens
granted to the Collateral Agent for the benefit of the Revolving Credit Agent
and the Revolving Credit Lenders on the Collateral and notwithstanding any
provision of the UCC, or any applicable law or the Credit Documents or any other
circumstance whatsoever and notwithstanding that all of the Secured Obligations
are secured by a single set of Collateral Documents in favor of all of the
Secured Parties rather than separate security documents senior and subordinated
as applicable to the relative priorities set forth herein in favor of each class
of Secured Parties, the Term Loan Agent, on behalf of itself and the Term
Lenders, hereby agrees that: (a) any Lien on the Collateral securing any
Revolving Credit Obligations (subject to the limitation set forth in Section
3.04) now or hereafter held by or on behalf of the Revolving Credit Agent or any
Revolving Credit Lenders or any agent or trustee therefore or any other holder
of Revolving Credit Obligations shall be senior in all respects and prior to any
Lien on the Collateral securing any of the Term Loan Obligations; and (b) any
Lien on the Collateral now or hereafter held by or on behalf of the Term Loan
Agent or any Term Lenders or any agent or trustee therefor in respect of the
Term Loan Obligations regardless of how acquired, whether by grant, statute,
operation of law, subrogation or otherwise, shall be junior and subordinate in
all respects to all Liens on the Collateral securing such Revolving Credit
Obligations. All Liens on the Collateral securing any Revolving Credit
Obligations (subject to the limitation set forth in Section 3.04) shall be and
remain senior in all respects and prior to all Liens on the Collateral securing
any Term Loan Obligations for all purposes, whether or not such Liens securing
any Revolving Credit Obligations are subordinated to any Lien securing any other
obligation of the Borrower or any other Obligor.

          Each of the parties hereto acknowledges and agrees that use of the
Collateral Documents rather than separate security documents is for the
convenience of the Secured Parties only and, except as provided in this
Agreement, is not intended and will not be construed or given effect to limit,
abridge or otherwise affect the rights, powers and privileges which the
Revolving Credit Agent and the Revolving Credit Lenders, on the one hand, and
the Term Loan Agent and the Term Lenders, on the other hand, would have
possessed and/or enjoyed, as the owners and holders, as a class, of a separate,
first and unsubordinated Lien upon all of the Collateral, in the case of the
holders of the Revolving Credit Obligations, and a separate, second Lien upon
all of the Collateral, in the case of the holders of the Term Loan Obligations.

          The Term Loan Agent hereby acknowledges and agrees that the Revolving
Credit Agent and the Revolving Credit Lenders would not have agreed to the
Revolving Credit Agreement in the absence of the execution and delivery of this
Agreement by the parties hereto.

          3.02. Liens on Additional Property. The parties hereto agree that all
Liens securing the Revolving Credit Obligations and the Term Loan Obligations
shall be granted in favor of the Collateral Agent for the benefit of the holders
of the Revolving Credit Obligations

                  Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -13-

and the Term Loan Obligations pursuant to the Collateral Documents, subject to
the Lien priorities set forth herein. If any time the Revolving Credit Agent or
any Revolving Credit Lender shall obtain a Lien securing any of the Revolving
Credit Obligations, or the Term Loan Agent or any Term Lender shall obtain a
Lien securing any of the Term Loan Obligations, on any property of the Borrower
or any of its Subsidiaries that is not granted in favor of the Collateral Agent
pursuant to a Collateral Documents as contemplated above, such Person will cause
such Lien to be to be assigned to the Collateral Agent as security for the
Secured Obligations pursuant to a Collateral Document in accordance with the
terms hereof.

          3.03. Continuing Agreement. This is a continuing agreement of lien
subordination and the Revolving Credit Lenders may continue, at any time and
without notice to the Term Loan Agent or any Term Lender, to extend credit and
other financial accommodations, with respect to the Lien priorities in favor of
the Revolving Credit Obligations, and lend monies to or for the benefit of any
Obligor constituting Revolving Credit Obligations (subject to the limitation on
the aggregate principal or face amount thereof set forth in Section 3.04) in
reliance hereof. The Term Loan Agent, on behalf of itself and the Term Lenders,
hereby waives any right it may have under applicable law to revoke this
Agreement or any of the provisions of this Agreement. The terms of this
Agreement shall survive, and shall continue in full force and effect, in any
Insolvency Proceeding.

          3.04. Maximum Amount of Revolving Credit Obligations. Notwithstanding
anything herein or in any other Credit Documents to the contrary, the aggregate
principal or face amount of the Revolving Credit Obligations entitled to the
Lien priorities under Section 3.01 (and the priority in terms of distributions
with respect to the Collateral under Section 5.01) shall not, without the prior
written consent of the Required Term Lenders, exceed $40,000,000; provided that
(a) such limit shall not preclude the borrowing, repayment and re-borrowing of
loans, or the issuance of letters of credit, from time to time under the
Revolving Credit Agreement up to an aggregate principal or face amount of
$40,000,000 at any time outstanding and (b) to the extent the aggregate
principal or face amount of the Revolving Credit Obligations shall exceed such
amount at any time without such consent having been obtained, such excess amount
of Revolving Credit Obligations shall be Secured Obligations entitled to the
benefits of the Liens on the Collateral pursuant to the Collateral Documents of
equal priority with the Term Loan Obligations.

          SECTION 4. Enforcement of Collateral.

          4.01. Administration of Collateral. The Collateral Agent shall hold
and administer the Collateral and any Lien thereon for the benefit of the
Secured Parties, pursuant to the terms of this Agreement and the other
Collateral Documents. The Collateral Agent shall exercise such rights and
remedies with respect to the Collateral as are granted to it hereunder and under
the Collateral Documents and applicable law and as shall be directed by the
Required Secured Parties in accordance with the terms of this Agreement. No
other class or classes of Secured Parties shall have any right (a) to direct the
Collateral Agent to take any other action in respect of the Collateral hereunder
or under the other Collateral Documents or (b) to take action with respect to
the Collateral independently of the Collateral Agent.

          4.02. Exercise of Remedies.

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<PAGE>

                                      -14-

          (a) So long as this Agreement has not been terminated pursuant to the
provisions hereof, and regardless of whether or not the Secured Obligations have
been accelerated or any Insolvency Proceeding has been commenced by or against
the Borrower or any other Obligor:

          (i) Subject to the terms hereof, the Collateral Agent shall have the
     exclusive right to exercise rights and remedies under the Collateral
     Documents or otherwise in respect of the Collateral and, in exercising such
     rights and remedies, the Collateral Agent may enforce the provisions of the
     Collateral Documents and exercise remedies thereunder and under applicable
     law (or refrain from enforcing any such rights and exercising any such
     remedies), all in such order and in such manner as it shall be directed by
     the Required Secured Parties or (in the absence of such direction) as it
     may determine in the exercise of its discretion in accordance with the
     terms of this Agreement, and notwithstanding that any decision, action or
     inaction taken or not taken by the Collateral Agent may inure solely to the
     benefit of the holders of the Revolving Credit Obligations or be
     detrimental in any manner or to any degree to the interests of some or all
     of the holders of the Term Loan Obligations. Such exercise and enforcement
     shall include the rights of the Collateral Agent to sell or otherwise
     dispose of the Collateral (such sale to be free and clear of the Liens
     securing the Secured Obligations and the Secured Parties agree to execute
     any and all such Lien releases requested by the Collateral Agent in
     connection therewith), to incur reasonable expenses in connection with such
     exercise and enforcement, and to exercise all the rights and remedies of a
     secured lender under the Uniform Commercial Code of any applicable
     jurisdiction and of a secured creditor under bankruptcy or similar laws of
     any applicable jurisdiction. No holder of Term Loan Obligations will have
     any right, power or authority to challenge or interfere with any such
     direction, directly or indirectly, by action at law or in equity, in any
     proceeding arising under or affecting any Collateral Document.

          (ii) Prior to the Senior Lien Termination Date, neither the Term Loan
     Agent nor any Term Lender shall exercise any rights or remedies in respect
     of the Collateral securing the Term Loan Obligations, whether under the
     Collateral Documents, applicable law or otherwise, including any action to
     institute any judicial or nonjudicial or similar action or proceeding in
     respect of the Collateral or to seek relief from the automatic stay
     pursuant to Section 362 of the Bankruptcy Code, and neither the Term Loan
     Agent nor any Term Lender shall have any right whatsoever to direct the
     Collateral Agent or any other Person to exercise or seek to exercise or
     refrain from exercising any rights or remedies in respect of the
     Collateral; provided that (x) in any Insolvency Proceeding commenced by or
     against the Borrower or any other Obligor, the Term Loan Agent or the Term
     Lenders may file a claim or statement of interest with respect to the Term
     Loan Obligations, and (B) the Term Loan Agent may take any action (so long
     as such action would not be adverse to the prior Liens on the Collateral
     securing the Revolving Credit Obligations, or the rights of the Revolving
     Credit Agent or the Revolving Credit Lenders to exercise remedies in
     respect thereof) in order to preserve or protect the Liens on the
     Collateral securing the Term Loan Obligations, including the filing of UCC
     financing statements or other similar actions; provided that nothing herein
     shall be construed to preclude any Term Lender from exercising any right of
     set-off against the Borrower or any other Obligor (subject to the
     requirements of Section 5.02).

                  Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -15-

          (iii) Neither the Term Loan Agent nor any Term Lender shall seek to
     enjoin, or take any action that would hinder, any exercise of rights or
     remedies by the Collateral Agent under and in accordance with any
     Collateral Document or applicable law in respect of the Collateral,
     including any action of foreclosure, or contest in any proceeding
     (including any Insolvency Proceeding) the validity or enforceability of the
     Revolving Credit Obligations or the validity, perfection, priority or
     enforceability of the Liens securing the Revolving Credit Obligations (it
     being understood and agreed that the terms of this Agreement shall govern
     even if part or all of the Revolving Credit Obligations or such Liens are
     avoided, disallowed, set aside or otherwise invalidated in any judicial
     proceeding or otherwise).

          (iv) Nothing in this Agreement shall be construed to prevent or impair
     the right of any Secured Party to enforce any provision of this Agreement
     against any other Secured Party, including the priority of the Liens as
     provided in Section 3.01.

          (b) Each of the Term Lender Agent and the Term Lenders hereby waives
any right to require the Collateral Agent to marshal any security or collateral
or otherwise to compel the Collateral Agent to seek recourse against or
satisfaction of the indebtedness owing to the holders of the Revolving Credit
Obligations from one source before seeking recourse or satisfaction from another
source and any right the Term Loan Agent or the Term Lenders may have as a
junior lien creditor or otherwise to object to the manner in which the
Collateral Agent or the Required Secured Parties seek to enforce or collect the
Revolving Credit Obligations or the Liens granted in any of the Collateral,
regardless of whether any action or failure to act by or on behalf of the
Collateral Agent or Revolving Credit Lenders is adverse to the interest of the
Term Loan Agent or the Term Lenders. To the extent that it is entitled to
receive and apply the same pursuant to the provisions of this Agreement, the
Revolving Credit Agent shall be authorized to apply any and all payments,
collections, and proceeds of the Collateral received by it to such portion of
the Revolving Credit Obligations (subject to the limitation set forth in Section
3.04) as the Revolving Credit Agent lawfully may elect consistent with the
provisions of the Revolving Credit Documents.

          4.03. Rights As Unsecured Creditors. Notwithstanding anything to the
contrary in this Agreement, the Term Loan Agent and the Term Lenders may
exercise rights and remedies as an unsecured creditor against any Obligor (but
not against any Collateral or any other Secured Party) in accordance with the
terms of the Term Loan Agreement and applicable law as if the Term Loan
Obligations were not secured by the Collateral. In the event the Term Loan Agent
or any Term Lender becomes a judgment lien creditor in respect of any Collateral
securing the Term Loan Obligations as a result of its enforcement of its rights
as an unsecured creditor, such judgment lien shall be subordinated to the Liens
securing the Revolving Credit Obligations on the same basis as the Liens
securing the Term Loan Obligations are so subordinated to the Revolving Credit
Obligations under this Agreement. Nothing in this Agreement shall impair or
otherwise adversely affect any rights or remedies the Collateral Agent, the
Revolving Credit Agent or the Revolving Credit Lenders may have with respect to
the Liens on the Collateral securing the Revolving Credit Obligations.

          4.05. Option of Term Lenders to Purchase Revolving Credit Obligations.

                  Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -16-

          (a) So long as the Revolving Credit Agreement is outstanding, if at
any time upon the direction of the Required Secured Parties the Collateral Agent
shall exercise any remedies under the Collateral Documents to foreclose on the
Liens on the Collateral or sell or otherwise realize upon any of the Collateral
(including commencing any legal proceedings against or with respect to the any
of the Collateral to facilitate any of the foregoing) (each an "Enforcement
Action"), the Term Lenders shall have the right to purchase at par all (but not
less than all) of the loans and (with respect to any letters of credit then
outstanding) the participation interests therein constituting Revolving Credit
Obligations then outstanding from the holders of such Revolving Credit
Obligations, and the Revolving Credit Loan Agent, for itself and on behalf of
the Revolving Credit Lenders, agrees to sell such Revolving Credit Obligations
(or, with respect to any such Revolving Credit Obligations held by an affiliate
of a Revolving Credit Lender, to cause such affiliate to sell such Revolving
Credit Obligations), all in accordance with the terms of this Section 4.05.

          (b) Prior to the Senior Lien Termination Date, the Collateral Agent
shall notify the Term Loan Agent and each Term Lender at least 5 Business Days
prior to the commencement of any Enforcement Action, unless the Collateral Agent
determines that giving such prior notice is not in the best interests of the
Required Secured Parties (in which case the Collateral Agent shall notify the
Term Loan Agent and the Term Lenders as promptly as practicable following the
commencement of such Enforcement Action). At any time following receipt of any
such notification and so long as the applicable Enforcement Action shall be
contemplated or continuing, the Term Lenders may exercise their rights under
this Section 4.05 by giving written notice of such exercise (the "Exercise
Notice") to the Revolving Credit Agent (which shall promptly notify the
Revolving Credit Lenders thereof) and the Collateral Agent. The Exercise Notice
shall specify the identity of the Person or Persons who will purchase the then
outstanding Revolving Credit Obligations (which may be the Term Lenders, an
affiliate of a Term Lender designated by such Term Lender and/or such other
Person or Persons agreed by the Term Lenders participating in such purchase
(each a "Purchaser" and, collectively, the "Purchasers")) and the date of such
purchase (which shall be a Business Day at least 10 Business Days, but not more
than 20 Business Days, after receipt of the Exercise Notice by the Collateral
Agent) (the "Purchase Date"). Upon receipt of the Exercise Notice, the
Collateral Agent shall not commence such Enforcement Action or, if it shall have
already commenced such action, shall suspend such Enforcement Action, until the
earlier of the Business Day following the Purchase Date or receipt by the
Collateral Agent of written notice by or on behalf of the Term Lenders that such
Exercise Notice has been revoked, unless the Collateral Agent determines that
failing or delaying to take any such action is not in the best interests of the
Required Secured Parties. In that connection, unless otherwise agreed among all
of the Term Lenders, each Term Lender shall be entitled to purchase, or to cause
an affiliate of such Term Lender designated by it to purchase, its pro rata
share of the Revolving Credit Obligations then outstanding (based on its
Applicable Percentage under and as defined in the Term Loan Agreement). If for
any reason any Term Lender does not wish to participate directly or through an
affiliate in such purchase, such non-participating Term Lender's portion shall
be purchased by such of the Purchasers and in such amounts as shall be agreed by
the Term Lenders participating in such purchase; provided that no such purchase
shall be permitted under this Section 4.05 unless all of the Revolving Credit
Obligations shall be purchased by the Purchasers. The purchase of such Revolving
Credit

                  Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -17-

Obligations will be effected by assignments in accordance with the terms of the
Revolving Credit Agreement; provided that (i) no consent of the Borrower or the
Revolving Credit Agent shall be required with respect to such assignments and
(ii) if at the time of such assignment any of the Purchasers is not a Revolving
Credit Lender and any letter of credit (other than any letter issued by an
issuing lender which was not a party to the Revolving Credit Agreement) remains
outstanding, such assignment to such Purchaser will be subject to the consent of
the issuing lender of each such letter of credit (such consent not to be
unreasonably withheld). On the Purchase Date each Purchaser shall pay its
portion of the principal amount of all Revolving Credit Obligations (determined
as aforesaid), together with interest and fees accrued to such purchase date and
any "break funding" costs incurred by the Revolving Credit Lenders as a result
of the purchase of such Revolving Credit Obligations on such date, in
immediately available funds, to the Revolving Credit Agent. In addition, as a
further condition to such purchase, the purchasing Term Lender(s) shall, as of
the Purchase Date, assume and acquire their respective ratable shares of the
participation interests held by the Revolving Credit Lenders on such date in any
and all outstanding letters of credit issued under the Revolving Credit
Agreement. Upon receipt by the Revolving Credit Agent of the amount of such
Revolving Credit Obligations on the Purchase Date, such purchase shall become
effective and the Revolving Credit Agent shall distribute the same ratably to
the Revolving Credit Lenders, and the Revolving Credit Lenders shall have no
further obligations under the Revolving Credit Agreement.

          SECTION 5. Payments.

          5.01. Application of Proceeds. The proceeds of any Collateral received
in connection with the sale of, or collection on, such Collateral solely upon
the exercise of remedies under the Collateral Documents, shall be applied by the
Collateral Agent in the following order:

          First, to the payment of the reasonable costs and expenses in
     connection with the exercise of such remedies, including reasonable
     out-of-pocket costs and expenses of the Collateral Agent and the reasonable
     fees and expenses of its agents and counsel, and all reasonable costs,
     expenses or other liabilities incurred and advances made by the Collateral
     Agent in connection with the preservation or preparation for sale of the
     Collateral;

          Second, to the payment in full of the Revolving Credit Obligations
     (subject to the limitation set forth in Section 3.04), in each case equally
     and ratably in accordance with the respective amounts thereof then due and
     owing or as the Revolving Credit Lenders may otherwise agree;

          Third, to the payment in full of the remaining Secured Obligations, in
     each case equally and ratably in accordance with the respective amounts
     thereof then due and owing or as the holders thereof may otherwise agree;
     and

          Finally, to the payment to the relevant Obligors, or their respective
successors or assigns, or as a court of competent jurisdiction may direct, of
any surplus then remaining.

                  Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -18-

          5.02. Turnover of Amounts. If any holder of the Secured Obligations
receives in respect of its Secured Obligations any money, property, securities
or other distributions of any nature resulting from the exercise of remedies
(including set-off) in respect of the Collateral or any other property of the
Borrower or any of its Subsidiaries (regardless of whether such money, property,
securities or other distributions are received directly or indirectly during the
pendency of or in connection with any Insolvency Proceeding or otherwise), such
money, property, securities or other distributions shall be segregated and held
in trust and forthwith paid over, in the same form as received, to the
Collateral Agent for application to the Secured Obligations in accordance with
Section 5.01. Without limiting the foregoing, if any holder of the Secured
Obligations shall, by exercising any right of set-off, obtain payment in respect
of its Secured Obligations in contravention of the order of application
specified in Section 5.01, then such Lender receiving such payment shall
purchase (for cash at face value) participations in the Secured Obligations of
the other Lenders to the extent necessary so that the benefit of all such
payments shall be shared by the Lenders ratably in accordance with the aggregate
amount of Secured Obligations and consistent with the order of application
specified in Section 5.01; provided that (i) if any such participations are
purchased and all or any portion of the payment giving rise thereto is
recovered, such participations shall be rescinded and the purchase price
restored to the extent of such recovery, without interest, and (ii) each Obligor
consents to the foregoing and agrees, to the extent it may effectively do so
under applicable law, that any Lender acquiring a participation pursuant to the
foregoing arrangements may exercise against such Obligor rights of set-off and
counterclaim with respect to such participation as fully as if such Lender were
a direct creditor of such Obligor in the amount of such participation under the
respective Credit Agreement.

          5.03. Insurance Proceeds. The Collateral Agent shall, subject to the
rights of the Obligors under the Credit Documents and at the direction of the
Required Term Lenders (or, at any time following the repayment of the Term Loans
under the Term Loan Agreement, at the direction of the Required Revolving Credit
Lenders), adjust settlement for any insurance policy covering the Collateral in
the event of any loss thereunder and approve any award granted in any
condemnation or similar proceeding affecting the Collateral. All proceeds of any
such policy and any such award if in respect to the Collateral shall be paid to
the Collateral Agent, and the Collateral Agent shall in turn pay the same to the
Term Loan Agent or the Revolving Credit Agent, as applicable, for application in
accordance with the Credit Documents. If any Secured Party shall, at any time,
receive any proceeds of any such insurance policy or any such award in
contravention of this Agreement or the Credit Document, it shall pay such
proceeds over to the Collateral Agent for application as required by this
Section 5.03.

          5.04. Sale of Collateral. Notwithstanding anything herein to the
contrary, the Disposition of any property of the Obligors constituting
Collateral other than in connection with the exercise of remedies by the
Collateral Agent under the Collateral Documents shall be governed by the terms
of the respective Credit Agreements, and the proceeds of any such Disposition
shall be applied to the payment of the Secured Obligations to the extent and in
the manner required by the terms of the Credit Agreements.

          SECTION 6. Release of Collateral; Amendments; Termination.

                  Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -19-

          6.01. Release of Collateral. Except as otherwise provided in Section
6.03 with respect to this Agreement, the Collateral Agent may not, without the
prior written consent of each of the Revolving Credit Agent and the Term Loan
Agent (in each case acting with the consent of the requisite percentage of
Lenders under the respective Credit Agreements), consent to the termination of
any Collateral Document and the Liens thereunder or the release of any
Collateral thereunder; provided that, notwithstanding anything herein or in any
other Credit Document to the contrary, upon any Disposition of Collateral
(including the Capital Stock of any Subsidiary) that is permitted under the
Credit Agreements or consented to by the "Required Lenders" under each of the
Credit Agreements or any other transaction or event permitted or consented to by
such Required Lenders that results in any Subsidiary ceasing to be a Subsidiary
of the Borrower, the Collateral Agent shall (and is hereby authorized by the
Secured Parties to) release, without the prior consent of any Secured Party, at
the request of the Borrower any such Collateral and/or the Liens on such
Collateral under the relevant Collateral Document, and apply the proceeds of
such Disposition in accordance with the terms of the applicable Credit Agreement
to the extent required thereunder. The Collateral Agent shall take any action
reasonably requested by the Borrower (at the Borrower's sole cost and expense)
to effect any such release.

          6.02. Amendments to Collateral Documents. Except as otherwise provided
in Section 6.01 or 6.03, the Collateral Agent may not, without the prior consent
of each of the Required Revolving Credit Lenders (or the Revolving Credit Agent,
acting on their behalf) and the Required Term Lenders (or the Term Loan Agent,
acting on their behalf), consent to any waiver, amendment, modification or
supplement under any of the Collateral Documents (other than this Agreement);
provided that no such waiver, amendment, modification or supplement shall (a)
have the effect of modifying any of the terms of this Agreement, without the
consent of the requisite Secured Parties to the extent required for such
modification under Section 6.03 or (b) affect the rights or obligations of the
Collateral Agent thereunder without the consent of the Collateral Agent. Any
such waiver, amendment or modification shall be binding upon each Secured Party.
Neither this Section 6.02 nor any other provision of this Agreement shall in any
way limit the ability of any Lender to waive, amend or otherwise modify any
Credit Agreement to which it is a party.

          6.03. Amendments to this Agreement. None of the terms or provisions of
this Agreement may be waived, amended, supplemented or otherwise modified except
by a written instrument executed and delivered by each of the Collateral Agent,
the Revolving Credit Agent and the Term Loan Agent (in each case acting with the
consent of the requisite percentage of Lenders under the respective Credit
Agreements), provided that (a) no such waiver, amendment or modification shall,
without the consent of the Supermajority Lenders under each Credit Agreement,
change (i) the definition of "Revolving Credit Obligations" or "Term Loan
Obligations", (ii) the relative priorities of the Liens granted under the
Collateral Documents or the Secured Obligations secured thereunder, (iii) the
order of application of proceeds in respect of the Collateral under Section 5,
(iv) any definition or provision hereof specifying the number or percentage of
Secured Parties authorized or required to direct any decision, action or
inaction by the Collateral Agent or (v) any of the provisions of this Section 6;
and (b) no such waiver, amendment or modification shall affect the rights or
obligations of the Collateral Agent hereunder without the consent of the
Collateral Agent. Any such waiver or amendment shall be

                  Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -20-

binding upon each Secured Party and each Obligor. The Obligors shall not have
any right to consent to or approve any amendment, modification or waiver of any
provision of this Agreement except to the extent their rights are affected (it
being understood that no such consent or approval by the Borrower or any other
Obligor shall arise solely from any change in the relative rights or obligations
of the Secured Parties due to an amendment, waiver, supplement, or other
modification of this Agreement).

          6.04. Termination of this Agreement. This Agreement shall terminate
and be of no further force and effect automatically and without further action
on the part of any party hereto upon the termination of each Collateral Document
and the termination and/or release of the Liens thereunder in accordance with
the terms hereof; provided that (a) the provisions of Sections 3, 4, 7, 8 and 9
shall terminate and be of no force and effect automatically and without further
action on the part of any party hereto upon the Senior Lien Termination Date and
(b) the provisions of Section 2.06 shall survive and remain in full force and
effect regardless of the termination of this Agreement or any other Collateral
Document.

          SECTION 7. Provisions Applicable After Bankruptcy.

          7.01. Certain Agreements. The intercreditor arrangements set forth in
this Agreement, including the subordination of the Liens securing the Term Loan
Obligations to the Liens securing the Revolving Credit Obligations, shall
continue in full force and effect notwithstanding the occurrence of any
Insolvency Proceeding, and in furtherance thereof:

          (a) the Liens securing the Revolving Credit Obligations shall be
     reinstated to the extent the Collateral Agent or any holder of Revolving
     Credit Obligations are required to turn over or otherwise pay to the
     bankruptcy estate of the Borrower or any other Obligor any amount received
     from an enforcement action in respect of the Collateral (and as a result
     thereof any portion of such Liens is released), and such Lien so reinstated
     shall have the same benefits hereunder as if the Revolving Credit
     Obligations had never been paid; and

          (b) to the extent that the Term Loan Agent or any Term Lender has or
     acquires any rights under Section 363 or Section 364 of the Bankruptcy Code
     with respect to the Collateral, the Term Loan Agent or such Term Lender
     will only assert such rights in a manner consistent with the provisions
     hereof.

          7.02. Relief from the Automatic Stay. Until the Senior Lien
Termination Date has occurred, the Term Loan Agent, on behalf of itself and the
Term Lenders, agrees that neither the Term Loan Agent nor any Term Lender shall
seek relief from the automatic stay or any other stay in any Insolvency
Proceeding for purposes of taking any enforcement action in respect of the
Collateral, without the prior written consent of the Revolving Credit Agent and
the Required Revolving Credit Lenders.

          7.03. No Waiver. Nothing contained herein shall prohibit or in any way
limit the Collateral Agent, the Revolving Credit Agent or any Revolving Credit
Lender from objecting in any Insolvency Proceeding or otherwise to any action
taken by the Term Loan

                  Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -21-

Agent or any of the Term Lenders, including the asserting by the Term Loan Agent
or any Term Lender of any of its rights and remedies under the Term Loan
Documents or otherwise, in violation of this terms of this Agreement.

          SECTION 8. Obligations Unconditional; Waivers, Covenants and
Agreements of the Agents.

          (a) Subject to the provisions of Section 6, all obligations, rights
and interests of the Collateral Agent, the Revolving Credit Agent and the
Revolving Credit Lenders hereunder and all obligations, rights and interests of
the Term Loan Agent and the Term Lenders hereunder shall remain in full force
and effect irrespective of:

          (i) any lack of validity or enforceability of the Revolving Credit
     Obligations, any Revolving Credit Document, or any other document or
     agreement in respect of the Revolving Credit Obligations;

          (ii) any change in the time, manner, or place of payment, or in any
     other term, of all or any of the Revolving Credit Obligations (including
     any rescission, in whole or in part, by the Revolving Credit Agent of any
     demand for payment of any Revolving Credit Obligations), or any
     participation, sale, assignment, or other transfer of any of the Revolving
     Credit Obligations, or any amendment, waiver, deferral, extension, renewal,
     refinancing, replacement, refunding, acceleration, compromise, release,
     alteration, supplementation, termination, or other modification, in whole
     or in part, including any increase in the amount thereof, whether by course
     of conduct or otherwise, of the Revolving Credit Obligations or of the
     terms of the Revolving Credit Agreement, any other Revolving Credit
     Document or any other document or agreement relating to the Revolving
     Credit Obligations; or

          (iii) any other circumstances which otherwise might constitute a
     defense available to, or a discharge of, the Borrower or any other Obligor
     in respect of the Revolving Credit Obligations or the Liens securing the
     Revolving Credit Obligations, including the avoidance or disallowance in
     any bankruptcy, insolvency or other like proceeding or otherwise, of the
     Revolving Credit Obligations.

          (b) The Term Loan Agent hereby waives (i) reliance by the Revolving
Credit Agent upon the intercreditor arrangements set forth in this Agreement and
(ii) any notice of the creation, renewal, extension, or accrual of any of the
Revolving Credit Obligations and notice of, or proof of reliance by, the
Revolving Credit Agent upon this Agreement. The Revolving Credit Obligations
shall be deemed conclusively to have been created, contracted, or incurred in
reliance on this Agreement, and all dealings between the Borrower, the Term Loan
Agent and the Term Lenders shall be deemed to have been consummated in reliance
upon this Agreement.

          (c) So long as the Collateral Agent and its directors, officers,
employees, and agents act in accordance with the terms of this Agreement, the
Term Loan Agent hereby waives any claim against the Collateral Agent with
respect to, or arising out of, any action or inaction or any error of judgment,
negligence, or mistake, or oversight whatsoever on the part of the

                  Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -22-

Collateral Agent or its directors, officers, employees, or agents (i) with
respect to any exercise of (or any delay in exercising, failure to exercise or
decision to refrain from exercising) any rights or remedies in respect of the
Revolving Credit Obligations, and the Liens securing the Revolving Credit
Obligations, under the Revolving Credit Documents or applicable law, or (ii) in
connection with any transaction relating to the Collateral, except to the extent
any such claim is determined by a court of competent jurisdiction by final and
nonappealable judgment to have resulted from such Person's gross negligence or
willful misconduct. Neither the Collateral Agent nor any of its directors,
officers, employees, or agents shall be liable for failure to demand, collect,
or realize upon any of the Collateral or for any delay in doing so or shall be
under any obligation to sell or otherwise dispose of any Collateral upon the
request of the Borrower or any other Person or entity or to take any other
action whatsoever with regard to the Collateral or any part thereof, except as
specifically provided in this Agreement.

          (d) The Collateral Agent, the Revolving Credit Agent and the Revolving
Credit Lenders have not made, and do not hereby or otherwise make to the Term
Loan Agent or the Term Lenders, any representations or warranties, express or
implied (other than the Collateral Agent's and the Revolving Credit Agent's
authority to enter into this Agreement and, in the case of the Revolving Credit
Agent, to bind the Revolving Credit Lenders hereby), nor do the Collateral
Agent, the Revolving Credit Agent or the Revolving Credit Lenders assume any
liability to the Term Loan Agent or the Term Lenders with respect to the
financial or other condition of the Borrower or any other Obligor, the
Borrower's title to, the value of, or any other matter in respect of any
Collateral or the enforceability, validity, priority, value or collectability of
the Revolving Credit Obligations, any Revolving Credit Document, the Term Loan
Obligations or the Term Loan Documents.

          (e) The Term Loan Agent and the Term Lenders have not made, and do not
hereby or otherwise make to the Collateral Agent, the Revolving Credit Agent or
the Revolving Credit Lenders, any representations or warranties, express or
implied (other than the Term Loan Agent's authority to enter into this Agreement
and to bind the Term Lenders hereby), nor do the Term Loan Agent or the Term
Lenders assume any liability to the Collateral Agent, the Revolving Credit Agent
or the Revolving Credit Lenders with respect to the financial or other condition
of the Borrower or any other Obligor, the Borrower's or any other Obligor's
title to, the value of, or any other matter in respect of any Collateral or the
enforceability, validity, priority, value or collectability of the Revolving
Credit Obligations, any Revolving Credit Document, the Term Loan Obligations or
the Term Loan Documents.

          (f) The Revolving Credit Agent represents and warrants to the
Collateral Agent that it is authorized to execute and deliver, and to perform
its duties and obligations under, this Agreement on behalf of the Revolving
Credit Lenders. The Term Loan Agent represents and warrants to the Collateral
Agent that it is authorized to execute and deliver, and to perform its duties
and obligations under, this Agreement on behalf of the Term Lenders. Each Lender
acknowledges and agrees that, upon execution and delivery by the Revolving
Credit Agent and the Term Loans Agent of this Agreement, the Lenders shall be
bound by the terms and conditions of this Agreement (and, to the extent this
Agreement create any duties or obligation on the part of any Lender, such duties
and obligations) as if they were a signatory hereto.

                  Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -23-

          SECTION 9. Powers Coupled With An Interest.

          (a) All powers, authorizations, and agencies contained in this
Agreement are coupled with an interest and are irrevocable until the Secured
Obligations are paid in full.

          (b) The Collateral Agent, the Revolving Agent and the Term Loan Agent
are hereby authorized to demand specific performance of the provisions of this
Agreement when any party hereto has failed to comply with any terms or
provisions hereof, and each party waives any defense based on the adequacy of a
remedy at law that might be asserted as a bar to such remedy of specific
performance.

          SECTION 10. Miscellaneous.

          10.01. Further Assurances. The Borrower, each other Obligor, the Term
Loan Agent and the Term Lenders, at the Borrower's expense and at any time from
time to time, upon the reasonable request of the Collateral Agent or the
Revolving Credit Agent, will promptly and duly execute and deliver such further
instruments and documents (including amendments to financing statements filed
against the Borrower or any other Obligor stating that the rights of the Term
Loan Agent and the Term Lenders are subject to the terms hereof and together
with such assignments or endorsements as the Collateral Agent or the Revolving
Credit Agent may reasonably deem necessary) and take such further actions as the
Collateral Agent or the Revolving Credit Agent may reasonably request for the
purpose of obtaining or preserving the full benefits of this Agreement and of
the rights and powers herein granted.

          10.02. Provisions Define Relative Rights. This Agreement is intended
solely for the purpose of defining the relative rights of the Lenders in respect
of the subordination of the Liens securing Term Loan Obligations to the Liens
securing Revolving Credit Obligations and no other Person or entity shall have
any right, benefit or other interest under this Agreement. Nothing contained in
this Agreement is intended to affect or limit, in any way whatsoever, the
security interests, Liens, and other rights that the Secured Parties have under
the Collateral Documents or otherwise, insofar as the rights of the Borrower or
any other Person are involved.

          10.03. Notices. Except as otherwise provided herein, Except in the
case of notices and other communications expressly permitted to be given by
telephone, all notices and other communications provided for herein shall be in
writing and shall be delivered by hand or overnight courier service, mailed by
certified or registered mail or sent by telecopy, as follows:

          (a) if to the Collateral Agent, to JPMorgan Chase Bank, 270 Park
     Avenue, 20th Floor, New York, New York 10017, Attention of Roger Odell
     (Telecopy No. (212) 270-0433; Telephone No. (212) 270-0506), with a copy to
     JPMorgan Chase Bank, 270 Park Avenue, 20th Floor, New York, New York 10017,
     Attention of Steven Hawkins (Telecopy No. (212) 270-0433; Telephone No.
     (212) 270-0376);

          (b) if to the Revolving Credit Agent, to JPMorgan Chase Bank, 1111
     Fannin Street, 10/th/ Floor, Houston, Texas 77002-8069, Attention of Loan
     and Agency Services Group (Telecopy No. (713) 750-2782; Telephone No. (713)
     750-2102), with a copy to

                  Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -24-

     JPMorgan Chase Bank, 270 Park Avenue, 20th Floor, New York, New York 10017,
     Attention of Roger Odell (Telecopy No. (212) 270-0433; Telephone No. (212)
     270-0506);

          (c) if to the Term Loan Agent, to JPMorgan Chase Bank, 1111 Fannin
     Street, 10/th/ Floor, Houston, Texas 77002-8069, Attention of Loan and
     Agency Services Group (Telecopy No. (713) 750-2782; Telephone No. (713)
     750-2102), with a copy to JPMorgan Chase Bank, 270 Park Avenue, 20th Floor,
     New York, New York 10017, Attention of Roger Odell (Telecopy No. (212)
     270-0433; Telephone No. (212) 270-0506); and

          (d) if to the Borrower, to Chart Industries, Inc., 5885 Landerbrook
     Drive, Suite 205, Mayfield Heights, Ohio 44124, Attention of Chief
     Financial Officer (Telecopy No. (440) 753-1491; Telephone No. (440)
     753-1490);

          Any party hereto may change its address or telecopy number for notices
and other communications hereunder by notice to the other parties hereto. All
notices and other communications given to any party hereto in accordance with
the provisions of this Agreement shall be deemed to have been given on the date
of receipt.

          10.04. Counterparts. This Agreement may be executed by one or more of
the parties on any number of separate counterparts (including by facsimile
transmission), each of which shall constitute an original, and all of said
counterparts taken together shall be deemed to constitute one and the same
instrument.

          10.05. Severability. Any provision of this Agreement that is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

          10.06. Integration. This Agreement constitutes the entire agreement of
the parties hereto concerning the subject matter hereof and may not be
contradicted by evidence of prior, contemporaneous, or subsequent oral
agreements of the parties hereto. The parties hereto agree that the terms of
this Agreement shall govern and control in the event, and to the extent, of any
inconsistency between the terms of this Agreement and either of the Revolving
Credit Documents or the Term Loan Documents.

          10.07. Cumulative Remedies. The rights and remedies herein provided
are cumulative, may be exercised singly or concurrently and are not exclusive of
any other rights or remedies provided by law. No failure to exercise, nor any
delay in exercising, on the part of the Collateral Agent or the Revolving Credit
Agent, any right, power or privilege hereunder or under any Revolving Credit
Document shall operate as a waiver thereof. No single or partial exercise of any
right, power or privilege hereunder shall preclude any other or further exercise
thereof or the exercise of any other right, power or privilege.

                  Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -25-

          10.08. Successors and Assigns. This Agreement shall be binding upon
and shall inure to the benefit of the parties hereto and their respective
successors and assigns to the same extent as if any such successor or assign was
an original party hereto. In the event the Revolving Credit Obligations are paid
in full as a result of a replacement, refinancing or refunding of the then
existing Revolving Credit Obligations that does not violate the terms of the
Term Loan Agreement or this Agreement, the lenders under any such new credit
facility or facilities shall be entitled (without any action by any party
hereto) to succeed to the benefits of the subordination of the Term Loan
Obligations and to the first priority Lien securing the Revolving Credit
Obligations in and to the Collateral to the extent afforded to the Collateral
Agent, on behalf of the Revolving Credit Lenders, as set forth herein. In
furtherance thereof, the Term Loan Agent agrees to execute and deliver an
agreement containing terms substantially identical to those contained herein in
favor of any third person who causes the Revolving Credit Obligations to be paid
in full, whether such successor financing, refinancing, refunding or replacement
occurs by transfer, assignment, "takeout", or any other means or vehicle.

          10.09. Section Titles. The Section titles contained in this Agreement
are and shall be without substantive meaning or content of any kind whatsoever
and are not a part of the agreement between the parties hereto.

          10.10. No Strict Construction. The parties hereto have participated
jointly in the negotiation and drafting of this Agreement. In the event an
ambiguity or question of intent or interpretation arises, this Agreement shall
be construed as if drafted jointly by the parties hereto and except as expressly
provided herein no presumption or burden of proof shall arise favoring or
disfavoring any party by virtue of the authorship of any provisions of this
Agreement.

          10.11. No Fiduciary Duties Created. Neither the Term Loan Agent nor
any Term Lender shall be deemed to owe any fiduciary duty to the Revolving
Credit Agent or any Revolving Credit Lender. Neither the Revolving Credit Agent
nor any Revolving Credit Lender shall be deemed to owe any fiduciary duty to the
Term Loan Agent or any Term Lender. With respect to the holders of the Revolving
Credit Obligations, the Term Loan Agent undertakes to perform or to observe only
such of their respective covenants or obligations as are specifically set forth
in this Agreement and no implied covenants or obligations with respect to the
holders of the Revolving Credit Obligations shall be read into this Agreement
against the Term Loan Agent and the Term Lenders.

          10.12. GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE
WITH AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD
TO ANY CONFLICTS-OF-LAW PRINCIPLES). ANY LITIGATION BASED HEREON, OR ARISING OUT
OF, UNDER, OR IN CONNECTION WITH, THIS AGREEMENT, OR ANY COURSE OF CONDUCT,
COURSE OF DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN) OR ACTIONS OF ANY PARTY
HEREIN, SHALL BE BROUGHT AND MAINTAINED EXCLUSIVELY IN THE FEDERAL OR STATE
COURTS OF NEW YORK LOCATED IN THE COUNTY OF NEW YORK, NEW YORK; PROVIDED THAT
ANY SUIT SEEKING ENFORCEMENT AGAINST ANY COLLATERAL OR OTHER PROPERTY MAY BE
BROUGHT, AT THE REVOLVING CREDIT AGENT'S OPTION, IN THE COURTS OF ANY
JURISDICTION WHERE SUCH COLLATERAL OR OTHER PROPERTY MAY BE FOUND. EACH PARTY
HERETO

                  Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -26-

HEREBY EXPRESSLY AND IRREVOCABLY SUBMITS TO THE JURISDICTION OF SUCH COURTS FOR
THE PURPOSE OF ANY SUCH LITIGATION AS SET FORTH ABOVE AND IRREVOCABLY AGREES TO
BE BOUND BY ANY JUDGMENT RENDERED THEREBY IN CONNECTION WITH SUCH LITIGATION.
EACH PARTY HERETO FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS BY
REGISTERED MAIL, POSTAGE PREPAID, OR BY PERSONAL SERVICE WITHIN OR WITHOUT THE
STATE OF NEW YORK. EACH PARTY HERETO HEREBY EXPRESSLY AND IRREVOCABLY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH IT MAY HAVE OR
HEREAFTER MAY HAVE TO THE LAYING OF VENUE OF ANY SUCH LITIGATION BROUGHT IN ANY
SUCH COURT REFERRED TO ABOVE AND ANY CLAIM THAT ANY SUCH LITIGATION HAS BEEN
BROUGHT IN AN INCONVENIENT FORUM. TO THE EXTENT THAT ANY PARTY HERETO HAS OR
HEREAFTER MAY ACQUIRE ANY IMMUNITY FROM JURISDICTION OF ANY COURT OF FROM ANY
LEGAL PROCESS (WHETHER THROUGH SERVICE OR NOTICE, ATTACHMENT PRIOR TO JUDGMENT,
ATTACHMENT IN AID OF EXECUTION OR OTHERWISE) WITH RESPECT TO ITSELF OR ITS
PROPERTY, SUCH PARTY HEREBY IRREVOCABLY WAIVES SUCH IMMUNITY IN RESPECT OF ITS
OBLIGATIONS UNDER THIS AGREEMENT.

          10.13. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY KNOWINGLY,
VOLUNTARILY AND INTENTIONALLY WAIVES ANY RIGHTS IT MAY HAVE TO A TRIAL BY JURY
IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN
CONNECTION WITH, THIS AGREEMENT OR ANY COURSE OF CONDUCT, COURSE OF DEALING,
STATEMENTS (WHETHER ORAL OR WRITTEN) OR ACTIONS OF ANY PARTY HERETO. EACH PARTY
HERETO ACKNOWLEDGES AND AGREES THAT IT HAS RECEIVED FULL AND SUFFICIENT
CONSIDERATION FOR THIS PROVISION AND THAT THIS PROVISION IS A MATERIAL
INDUCEMENT FOR EACH OF THE PARTIES HERETO ENTERING INTO THIS AGREEMENT.

          10.14. Effectiveness. This Agreement shall become effective when
executed and delivered by the parties hereto simultaneously upon the
effectiveness of the Revolving Credit Agreement and the Term Loan Agreement.
This Agreement shall be effective both before and after the commencement of any
Insolvency Proceeding. All references to any Obligor shall include such Obligor
as debtor and debtor-in possession and any receiver or trustee for such Obligor
in any Insolvency Proceeding.

                  Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -27-

          IN WITNESS WHEREOF, the parties hereto have executed this
Subordination Agreement as of the day and year first above written.

                                BORROWER

                                CHART INDUSTRIES, INC.

                                By /s/ Michael F. Biehl
                                  -------------------------
                                  Name: Michael F. Biehl
                                  Title: Chief Financial Officer and Treasurer

                  Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -28-

                                        REVOLVING CREDIT AGENT

                                        JPMORGAN CHASE BANK,
                                        as Revolving Credit Agent

                                        By: /s/ R. A. Odell
                                           --------------------------------
                                           Name: R. A. Odell
                                           Title: Managing Director

                  Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -29-

                                        TERM LOAN AGENT

                                        JPMORGAN CHASE BANK,
                                        as Term Loan Agent

                                        By: /s/ R. A. Odell
                                           --------------------------------
                                           Name: R. A. Odell
                                           Title: Managing Director

                 Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -30-

                                        COLLATERAL AGENT

                                        JPMORGAN CHASE BANK,
                                        as Collateral Agent

                                        By: /s/ R. A. Odell
                                           --------------------------------
                                           Name: R. A. Odell
                                           Title: Managing Director

                  Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -31-

                                EACH OF THE FOLLOWING PARTIES
                                ACKNOWLEDGES AND AGREES TO THE
                                TERMS OF THIS AGREEMENT:

                                SUBSIDIARY GUARANTORS

                                CHART HEAT EXCHANGERS LIMITED
                                 PARTNERSHIP

                                By /s/ Michael F. Biehl
                                  -------------------------
                                  Name: Michael F. Biehl
                                  Title: Chief Financial Officer and Treasurer

                                CHART INTERNATIONAL, INC.

                                By /s/ Michael F. Biehl
                                  -------------------------
                                  Name: Michael F. Biehl
                                  Title: Chief Financial Officer and Treasurer

                                CHART MANAGEMENT COMPANY, INC.

                                By /s/ Michael F. Biehl
                                  -------------------------
                                  Name: Michael F. Biehl
                                  Title: Chief Financial Officer and Treasurer

                                CHART LEASING, INC.

                                By /s/ Michael F. Biehl
                                  -------------------------
                                  Name: Michael F. Biehl
                                  Title: Chief Financial Officer and Treasurer

                  Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -32-

                                CHART INC.

                                By /s/ Michael F. Biehl
                                  -------------------------
                                  Name: Michael F. Biehl
                                  Title: Chief Financial Officer and Treasurer

                                CHART INTERNATIONAL HOLDINGS, INC.

                                By /s/ Michael F. Biehl
                                  -------------------------
                                  Name: Michael F. Biehl
                                  Title: Chief Financial Officer and Treasurer

                                CHART ASIA, INC.

                                By /s/ Michael F. Biehl
                                  -------------------------
                                  Name: Michael F. Biehl
                                  Title: Chief Financial Officer and Treasurer

                                CAIRE INC.

                                By /s/ Michael F. Biehl
                                  -------------------------
                                  Name: Michael F. Biehl
                                  Title: Chief Financial Officer and Treasurer

                                COOLTEL, INC.

                                By /s/ Michael F. Biehl
                                  -------------------------
                                  Name: Michael F. Biehl
                                  Title: Chief Financial Officer and Treasurer

                  Collateral Agency and Intercreditor Agreement

<PAGE>

                                      -33-

                                NEXGEN FUELING, INC.

                                By /s/ Michael F. Biehl
                                  -------------------------
                                  Name: Michael F. Biehl
                                  Title: Chief Financial Officer and Treasurer

                                GTC OF CLARKSVILLE, LLC

                                By /s/ Michael F. Biehl
                                  -------------------------
                                  Name: Michael F. Biehl
                                  Title: Chief Financial Officer and
                                         Assistant Treasurer

                  Collateral Agency and Intercreditor Agreement<PAGE>

                                                                     EXHIBIT 4.1

================================================================================

                                WARRANT AGREEMENT

                                     between

                             CHART INDUSTRIES, INC.

                                       and

                               NATIONAL CITY BANK,

                                as Warrant Agent

                               September 15, 2003

================================================================================

<PAGE>

                                TABLE OF CONTENTS

SECTION 1.    Appointment of Warrant Agent.....................................1

SECTION 2.    Issuances........................................................1

SECTION 3.    Form of Warrant Certificates.....................................1

SECTION 4.    Execution of Warrant Certificates................................2

SECTION 5.    Registration and Countersignature................................2

SECTION 6.    Registration of Transfers and Exchanges..........................3

SECTION 7.    Duration and Exercise of Warrants................................4

SECTION 8.    Rights Upon Dissolution or Liquidation...........................7

SECTION 9.    Cancellation of Warrants.........................................7

SECTION 10.   Mutilated or Missing Warrant Certificates........................7

SECTION 11.   Reservation of Shares............................................8

SECTION 12.   Stock Exchange Listings..........................................8

SECTION 13.   Provision of Financial Information...............................8

SECTION 14.   Adjustment of Exercise Price and Number of Shares Purchasable
                 or Number of Warrants.........................................9

SECTION 15.   Fractional Shares...............................................14

SECTION 16.   Notices to Holders of Warrants..................................15

SECTION 17.   Warrant Agent...................................................16

SECTION 18.   Change of Warrant Agent.........................................18

SECTION 19.   Merger, Consolidation or Change of Name of Warrant Agent........19

SECTION 20.   Miscellaneous...................................................20

<PAGE>

                                WARRANT AGREEMENT

     This WARRANT AGREEMENT (this "Agreement"), dated as of September 15, 2003,
is made and entered into by and between CHART INDUSTRIES, INC., a Delaware
corporation (the "Company"), and NATIONAL CITY BANK, a national banking
association (in its capacity as warrant agent hereunder, the "Warrant Agent").

                                 R E C I T A L S

     A. The Company proposes to effect a Amended Joint Prepackaged
Reorganization Plan, dated September 3, 2003 (as further modified, supplemented
or amended, the "Plan") pursuant to chapter 11 of title 11 of the United States
Code, 11 U.S.C. (S)(S) 101 et seq., whereby, among other things, the Company
proposes to issue 280,281 warrants (the "Warrants") entitling the holders of Old
Chart Common Stock Interests (as defined in the Plan) to purchase initially an
aggregate of up to 280,281 shares (as adjusted from time to time pursuant to
this Agreement, the "Shares") of the Company's Common Stock, par value $0.01 per
share ("Common Stock"), after the consummation of the Plan, such Warrants to be
authorized and issued as of the Consummation Date (as defined in the Plan).

     B. The Warrant Agent, at the request of the Company, has agreed to act as
the agent of the Company in connection with the issuance, registration,
transfer, exchange, exercise and conversion of the Warrants.

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

     SECTION 1. Appointment of Warrant Agent. The Company hereby appoints the
Warrant Agent to act as agent for the Company in accordance with the
instructions hereinafter set forth in this Agreement; and the Warrant Agent
hereby accepts such appointment, upon the terms and conditions hereinafter set
forth.

     SECTION 2. Issuances. Subject to the provisions of this Agreement, in
accordance with the terms of the Plan, on (and from time to time after) the
Consummation Date, Warrants to purchase the Shares will be issued by the Company
in the amounts and to the recipients specified in the Plan or as otherwise set
forth herein. On, or as soon as reasonably practicable after, the Distribution
Date (as defined in the Plan), the Company will deliver, or cause to be
delivered, one or more Warrant Certificates (as defined below) evidencing the
Warrants in accordance with the terms of the Plan or as otherwise set forth
herein.

     SECTION 3. Form of Warrant Certificates. Subject to Section 6, the Warrants
to be issued under the Plan to holders of Old Chart Common Stock Interests shall
initially be issued in the form of one or more warrant certificates (the
"Warrant Certificates") in substantially the form set forth in Exhibit A, the
forms of election to exercise and of assignment to be printed on the reverse
thereof in substantially the forms set forth in Exhibit B and Exhibit C hereto,
together with such appropriate insertions, omissions, substitutions and other
variations as are required or permitted by this Agreement, and may have such
letters, numbers or other marks of identification

                                       1

<PAGE>

and such legends or endorsements placed thereon as may be required to comply
with any law or with any rules made pursuant thereto or with any rules of any
securities exchange or as may, consistently herewith, be determined by the
officers executing such Warrant Certificates, as evidenced by their execution of
the Warrant Certificates.

     Each Warrant Certificate shall represent such number of the outstanding
Warrants as specified therein, and each shall provide that it shall represent
the aggregate amount of outstanding Warrants from time to time endorsed thereon
and that the aggregate number of Shares purchasable upon the exercise of each
Warrant may from time to time be reduced or increased, as appropriate, in
accordance with the terms of this Agreement.

     SECTION 4. Execution of Warrant Certificates. Warrant Certificates shall be
signed on behalf of the Company by its Chairman of the Board of Directors, its
Chief Executive Officer, its Chief Financial Officer or its President (each, an
"Officer"). Each such signature upon the Warrant Certificates may be in the form
of a facsimile signature of any such Officer and may be imprinted or otherwise
reproduced on the Warrant Certificates and for that purpose the Company may
adopt and use the facsimile signature of any Officer.

     If any Officer who shall have signed any of the Warrant Certificates shall
cease to be such Officer before the Warrant Certificates so signed shall have
been countersigned by the Warrant Agent or disposed of by the Company, such
Warrant Certificates nevertheless may be countersigned and delivered or disposed
of as though such Officer had not ceased to be such Officer of the Company; and
any Warrant Certificate may be signed on behalf of the Company by any person
who, at the actual date of the execution of such Warrant Certificate, shall be a
proper officer of the Company to sign such Warrant Certificate, although at the
date of the execution of this Agreement any such person was not such an officer.

     SECTION 5. Registration and Countersignature. The Warrant Agent shall, upon
receipt of the Warrant Certificates duly executed on behalf of the Company,
countersign one or more Warrant Certificates evidencing the Warrants and shall
deliver such Warrant Certificates to or upon the written order of the Company. A
Warrant Certificate shall be, and shall remain, subject to the provisions of
this Agreement until such time as all of the Warrants evidenced thereby shall
have been duly exercised or shall have expired or been canceled in accordance
with the terms hereof.

     No Warrant Certificate shall be valid for any purpose, and no Warrant
evidenced thereby shall be exercisable, until such Warrant Certificate has been
countersigned by the signature of the Warrant Agent. Such signature by the
Warrant Agent upon any Warrant Certificate executed by the Company shall be
conclusive evidence that such Warrant Certificate so countersigned has been duly
issued hereunder.

     The Warrant Agent shall keep, at an office designated for such purpose,
books (the "Warrant Register") in which, subject to such reasonable regulations
as it may prescribe, it shall register the Warrant Certificates and exchanges
and transfers of outstanding Warrant Certificates in accordance with the
procedures set forth in Section 6, all in form satisfactory to the Company and
the Warrant Agent. No service charge shall be made for any exchange or
registration of

                                       2

<PAGE>

transfer of the Warrant Certificates, but the Company may require payment of a
sum sufficient to cover any stamp or other tax or other governmental charge that
may be imposed in connection with any such exchange or registration of transfer.
The Warrant Agent shall have no obligation to effect an exchange or register a
transfer unless and until any payments required by the immediately preceding
sentence have been made.

     Prior to due presentment for registration of transfer or exchange of any
Warrant in accordance with the procedures set forth in this Agreement, the
Warrant Agent and the Company may deem and treat the person in whose name any
Warrant is registered (the "Holder" of such Warrant) as the absolute owner of
such Warrant (notwithstanding any notation of ownership or other writing made in
a Warrant Certificate by anyone), for the purpose of any exercise thereof, any
distribution to the Holder thereof and for all other purposes, and neither the
Warrant Agent nor the Company shall be affected by notice to the contrary.

     SECTION 6. Registration of Transfers and Exchanges.

     (a) When Warrant Certificates are presented to the Warrant Agent with a
request:

          (i) to register the transfer of the Warrant Certificates; or

          (ii) to exchange such Warrant Certificates for an equal number of
Warrant Certificates of other authorized denominations,

the Warrant Agent shall register the transfer or make the exchange as requested
if its requirements for such transactions are met; provided, however, that the
Warrant Certificates presented or surrendered for registration of transfer or
exchange shall be duly endorsed or accompanied by a written instruction of
transfer in form satisfactory to the Warrant Agent, duly executed by the Holder
thereof or by his attorney, duly authorized in writing.

     (b) No Warrants, or Shares issuable upon exercise of the Warrants, shall be
sold, exchanged or otherwise transferred in violation of the Securities Act of
1933, as amended (the "Securities Act"), or state securities laws. The Company
or the Warrant Agent may require that, to the extent reasonable as a condition
to any sale, exchange or transfer of a Warrant or such Shares that the Holder
deliver to the Company and the Warrant Agent an opinion of counsel, which
opinion and counsel shall be reasonably satisfactory to the Company, to the
effect that such sale, exchange or transfer is made in compliance with the
Securities Act and all applicable state securities laws or pursuant to an exempt
transaction under the Securities Act and state securities laws. The provisions
of this paragraph (b) shall not apply to the exercise of any Warrant to the
extent that the Shares issued upon such exercise (and any unexercised portion of
the Warrant so exercised) shall be issued to the same Holder that exercised such
Warrant.

     (c) The Warrant Certificates and the Shares issuable upon exercise of the
Warrants shall bear such legends as the Company reasonably shall determine
reflecting the restrictions in the immediately preceding Section 6(b).

                                       3

<PAGE>

     (d) The Company and the Warrant Agent shall be obligated with respect to
transfers and exchanges of Warrants as follows:

          (i) To permit registrations of transfers and exchanges, the Company
shall execute and the Warrant Agent is hereby authorized to countersign, in
accordance with the provisions of Section 3 and this Section 6, Warrant
Certificates as required pursuant to the provisions of this Section 6 and for
the purpose of any distribution of Warrant Certificates contemplated by Section
14.

          (ii) All Warrant Certificates issued upon any registration of transfer
or exchange of Warrant Certificates shall be the valid obligations of the
Company, entitled to the same benefits under this Agreement as the Warrant
Certificates surrendered upon such registration of transfer or exchange.

          (iii) No service charge shall be made to a Holder for any
registration, transfer or exchange.

          (iv) Subject to Section 6(a) and this Section 6(d), the Warrant Agent
shall, upon receipt of all information required to be delivered hereunder, from
time to time register the transfer of any outstanding Warrants represented by
Warrant Certificates in the Warrant Register, upon surrender of Warrant
Certificates representing such Warrants at the Warrant Agent Office (as defined
below), duly endorsed, and accompanied by a completed form of assignment, duly
signed by the Holder thereof or by the duly appointed legal representative
thereof or by a duly authorized attorney, such signature to be guaranteed by (x)
a bank or trust company, (y) a broker or dealer that is a member of the National
Association of Securities Dealers, Inc. or (z) a member of a national securities
exchange. Upon any such registration of transfer, a new Warrant Certificate
shall be issued to the transferee.

     SECTION 7. Duration and Exercise of Warrants.

     (a) The Warrants shall expire upon the earlier to occur of (i) 5:00 p.m.,
Eastern Time on September 15, 2010 or (ii) the time of consummation of a
transaction constituting a Termination Event (as described in Section 14(c))
(the "Expiration Time"). At the Expiration Time, the Warrants will become void
and of no value.

     (b) Subject to the provisions of this Agreement, including Section 14, each
Warrant shall entitle the Holder thereof to purchase from the Company (and the
Company shall issue and sell to such Holder) one fully paid and nonassessable
Share at a price equal to $32.97 per share (as the same may be hereafter
adjusted pursuant to Section 14, the "Exercise Price").

     (c) From and after the Consummation Date and until the Expiration Time, the
Holder of a Warrant may exercise such Holder's right to purchase Shares by:

                                       4

<PAGE>

          (i) providing written notice of such election ("Warrant Exercise
Notice") to exercise the Warrant to the Warrant Agent at the address set forth
in Section 20(b) hereof, "Re: Chart Industries, Inc. Warrant Exercise", by
certified mail, return receipt requested, by nationally recognized overnight
courier service, by hand or by facsimile, no later than the Expiration Time,
which Warrant Exercise Notice shall be in the form of an election to purchase
Shares of the Company substantially in the form set forth in Exhibit B hereto,
properly completed and executed by the Holder;

          (ii) delivering no later than 5:00 p.m., Eastern Time, on the business
day immediately prior to the Settlement Date (as defined below) the Warrant
Certificates evidencing such Warrants to the Warrant Agent; and

          (iii) paying the applicable Exercise Price multiplied by the number of
Shares in respect of which such Warrants are being exercised (the "Exercise
Amount"), together with any applicable taxes and governmental charges. The date
three business days after a Warrant Exercise Notice is delivered is referred to
for all purposes under this Agreement as the "Settlement Date."

     (d) The Exercise Amount shall be payable (i) in lawful money of the United
States of America by wire transfer in immediately available funds of the
Exercise Amount to an account of the Warrant Agent specified in writing by the
Warrant Agent for such purpose, (ii) by delivery of an official bank check or
cashier's check in immediately available funds of the Exercise Amount to the
Warrant Agent at its corporate office, (iii) by Cashless Exercise (as defined
below), or (iv) by any combination of the foregoing, in each case no later than
5:00 p.m., Eastern Time, on the business day immediately prior to the Settlement
Date.

     (e) Any exercise of a Warrant pursuant to the terms of this Agreement shall
be irrevocable and shall constitute a binding agreement between the Holder and
the Company, enforceable in accordance with its terms.

     A "Cashless Exercise" shall mean an exercise of a Warrant or Warrants
without payment of the Exercise Price in cash by surrendering such Warrant or
Warrants (represented by one or more Warrant Certificates) and, in exchange
therefor, receiving such number of Shares equal to the product of (1) that
number of Shares for which such Warrant or Warrants are exercisable and which
would be issuable in the event of an exercise with full payment in cash of the
Exercise Price and (2) the Cashless Exercise Ratio (as defined below). The
"Cashless Exercise Ratio" shall equal a fraction, the numerator of which is the
excess of the Market Price (as defined in Section 14(b) below) per share of
Common Stock on the date of exercise over the Exercise Price per share of Common
Stock as of the date of exercise and the denominator of which is the Market
Price per share of Common Stock on the date of exercise. A Holder may exercise
all or any number of whole Warrants represented by a Warrant Certificate. Upon
surrender of a Warrant Certificate representing more than one Warrant in
connection with a Holder's option to elect a Cashless Exercise, such Holder must
specify the number of Warrants for which such Warrant Certificate is to be
exercised (without giving effect to such Cashless Exercise). All provisions of
this Agreement shall be applicable with respect to a Cashless Exercise of a
Warrant Certificate for less than the full number of Warrants represented
thereby.

                                       5

<PAGE>

     (f) The Warrant Agent shall:

          (i) examine all Warrant Exercise Notices and all other documents
delivered to it by or on behalf of Holders as contemplated by the Warrant
Certificates to ascertain whether, on their face, such Warrant Exercise Notices
and any such other documents have been executed and completed in accordance with
their terms and the terms of the Warrant Certificates. In each case where a
Warrant Exercise Notice or other document appears on its face to have been
improperly completed or executed or some other irregularity in connection with
the exercise of the Warrants exists, the Warrant Agent shall endeavor to inform
the appropriate parties (including the person submitting such instrument) of the
need for fulfillment of all requirements, specifying those requirements which
appear to be unfulfilled;

          (ii) inform the Company of and cooperate with and assist the Company
in resolving any reconciliation problems between Warrant Exercise Notices
received and delivery of Warrants to the Warrant Agent's account;

          (iii) advise the Company no later than three business days after
receipt of a Warrant Exercise Notice, of (A) the receipt of such Warrant
Exercise Notice and the number of Warrants exercised in accordance with the
terms and conditions of this Agreement, (B) the instructions with respect to
delivery of the Shares deliverable upon such exercise, and (C) such other
information as the Company shall reasonably require;

          (iv) notify, by such time as necessary to ensure a prompt closing, the
Transfer Agent (as defined below) of the Common Stock with a copy to the
Company, of such name or names as directed by the Holder in which to issue the
Shares on the Settlement Date; and

          (v) subject to Common Stock being made available to the Warrant Agent
by or on behalf of the Company for delivery to the Transfer Agent, liaise with,
and endeavor to effect such delivery to, the Transfer Agent in accordance with
its requirements.

     (g) As soon as practicable after the exercise of any Warrant, the Company
shall issue, or otherwise deliver (or cause the Transfer Agent to deliver), in
authorized denominations to or upon the order of the Holder of the Warrant
Certificates evidencing such Warrant, by delivery to the address designated by
such Holder in its Warrant Exercise Notice, a physical certificate representing
the number of Shares to which such Holder is entitled, in fully registered form,
registered in such name or names as may be directed by such Holder. If less than
all of the Warrants evidenced by a Warrant Certificate surrendered upon the
exercise of Warrants are exercised at any time prior to the date of expiration
for the Warrants, a new Warrant Certificate or Certificates shall be issued to
or upon the order of the Holder for the remaining number of Warrants evidenced
by the Warrant Certificate so surrendered, and the Warrant Agent is hereby
authorized to countersign the required new Warrant Certificate or Certificates
pursuant to the provisions of Section 6 and this Section 7.

     (h) If any filing or notification becomes necessary pursuant to the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR
Act"), based upon the planned exercise of one or more Warrants, the Holder
thereof shall notify the Company of such

                                       6

<PAGE>

requirement and the Holder and the Company shall, prior to exercise, make any
necessary filings and notifications required to comply with the HSR Act at the
Holder's sole expense, including supplying any required additional information
or documents necessary for such notifications or filings. The Holder and the
Company agree to cooperate with each other in connection with such filings and
notifications, and to keep each other informed of the status of the proceedings
and communications with any federal, state, local, municipal, foreign or other
governmental agency, authority or body relating thereto. The Holder shall be
required to pay all required filing fees under the HSR Act. The Holder agrees
that prior to any exercise of a Warrant, if reasonably required by the Company,
it shall certify to the Company the Holder's compliance with the foregoing and
that any applicable waiting period under the HSR Act has expired. Each Holder by
acceptance of a Warrant agrees to comply with the provisions of this Section
7(h).

     SECTION 8. Rights Upon Dissolution or Liquidation. Notwithstanding any
other provision of this Agreement, in the event that, at any time after the date
hereof and prior to the Expiration Time, there shall be a voluntary or
involuntary dissolution, liquidation or winding up of the Company, then the
Company shall (or shall cause the Warrant Agent to) give notice by first-class
mail to each Holder of an outstanding Warrant at such Holder's address as it
appears on the Warrant Register maintained by the Warrant Agent, not less than
twenty days before any date set for definitive action, of the date on which such
dissolution, liquidation or winding up shall take place, as the case may be.
Such notice shall also specify the date as of which the holders of the shares of
record of Common Stock or other securities, if any, underlying the Warrants
shall be entitled to exchange their shares for securities, money or other
property deliverable upon such dissolution, liquidation or winding up, as the
case may be.

     SECTION 9. Cancellation of Warrants. If the Company shall purchase or
otherwise acquire Warrants, the Warrant Certificates representing such Warrants
shall thereupon be delivered to the Warrant Agent and be canceled by it and
retired. The Warrant Agent shall cancel all Warrant Certificates surrendered for
exchange, substitution, transfer or exercise in whole or in part. Such canceled
Warrant Certificates shall thereafter be disposed of in a manner satisfactory to
the Company.

     SECTION 10. Mutilated or Missing Warrant Certificates. If any of the
Warrant Certificates shall be mutilated, lost, stolen or destroyed, the Company
shall issue, and the Warrant Agent shall countersign and deliver, in exchange
and substitution for and upon cancellation of the mutilated Warrant Certificate,
or in lieu of and substitution for the Warrant Certificate lost, stolen or
destroyed, a new Warrant Certificate of like tenor and representing an
equivalent number of Warrants, but only upon receipt of evidence reasonably
satisfactory to the Company and the Warrant Agent of the loss, theft or
destruction of such Warrant Certificate and the delivery of an affidavit of loss
and bond of indemnity, and payment (if customarily required) of a reasonable
bonding fee, in each case if requested by either the Company or the Warrant
Agent, also reasonably satisfactory to them. Upon the issuance of any new
Warrant Certificate under this Section 10, the Company may require the payment
of a sum sufficient to cover any tax or other governmental charge that may be
imposed in relation thereto and any other reasonable out-of-pocket expenses
(including the fees and expenses of the Warrant Agent) in connection therewith.

                                       7

<PAGE>

     SECTION 11. Reservation of Shares. For the purpose of enabling it to
satisfy any obligation to issue Shares upon exercise of Warrants, the Company
will at all times through the Expiration Time, reserve and keep available, free
from preemptive rights and out of its aggregate authorized but unissued or
treasury shares of Common Stock, the number of Shares deliverable upon the
exercise of all outstanding Warrants, and the transfer agent for the Company's
Common Stock (such agent, in such capacity, as may from time to time be
appointed by the Company, the "Transfer Agent") is hereby irrevocably authorized
and directed at all times to reserve such number of authorized and unissued or
treasury shares of Common Stock as shall be required for such purpose. The
Company will keep a copy of this Agreement on file with such Transfer Agent and
with every transfer agent for any shares of the Company's capital stock issuable
upon the exercise of Warrants pursuant to Section 7. The Warrant Agent is hereby
irrevocably authorized to requisition from time to time from such Transfer Agent
stock certificates issuable upon exercise of outstanding Warrants, and the
Company will supply such Transfer Agent with duly executed stock certificates
for such purpose.

     Before taking any action that would cause an adjustment pursuant to Section
14 reducing any Exercise Price below the then par value (if any) of the Shares
issuable upon exercise of the Warrants, the Company will take any corporate
action that may, in the opinion of its counsel, be necessary in order that the
Company may validly and legally issue fully paid and nonassessable Shares at
such Exercise Price as so adjusted.

     The Company covenants that all Shares issued upon exercise of the Warrants
will, upon delivery of the Company assuming payment in full of the Exercise
Price therefor, be fully paid and nonassessable and free from all taxes, liens,
charges and security interests of any nature whatsoever other than such liens,
charges and security interests granted by the Holder.

     SECTION 12. Stock Exchange Listings. So long as any Warrants remain
outstanding, if the Shares are (i) listed on a national securities exchange or
(ii) listed for quotation on the Nasdaq National Market System or any other
over-the-counter quotation system, the Company will use commercially reasonable
efforts to have each of the Shares reserved for issuance hereunder listed on
such exchange or system.

     SECTION 13. Provision of Financial Information.

     (a) So long as any Warrants remain outstanding and the Company is required
to file annual reports, quarterly reports and other documents with the
Securities and Exchange Commission (the "SEC") pursuant to Section 13(a) or
15(d) of the Securities Exchange Act of 1934, as amended (the "Reports"), the
Company (i) will file the Reports with the SEC when due and (ii) if listed on a
national securities exchange or listed for quotation on a national market system
or other over-the-counter quotation system, will make the Reports generally and
readily available as required by the appropriate listing standards.

     (b) So long as any Warrants remain outstanding and in the event the Company
is not required to file Reports with the SEC, the Company shall mail to the
Warrant Agent five copies of its (x) quarterly reports (containing unaudited
financial reports prepared in accordance with generally accepted accounting
principles) within sixty days, or at such earlier time as such

                                       8

<PAGE>

reports are provided under the Investor Rights Agreement of Chart Industries,
Inc., dated September 15, 2003 (hereinafter the "Investor Rights Agreement"),
after the close of each of the first three quarters of each fiscal year, and (y)
annual reports (containing audited financial reports prepared in accordance with
generally accepted accounting principles) within one hundred twenty days, or at
such earlier time as such reports are provided under the Investor Rights
Agreement, after the close of each fiscal year. The Warrant Agent shall deliver
a copy of any of the financial reports it receives under this Section 13(b) to
any Holder promptly upon the written request of such Holder given to the Warrant
Agent.

     SECTION 14. Adjustment of Exercise Price and Number of Shares Purchasable
or Number of Warrants. The Exercise Price, the number of shares of Common Stock
purchasable upon the exercise of each Warrant and the number of Warrants
outstanding are subject to adjustment from time to time upon the occurrence of
the events enumerated in this Section 14.

     (a) Changes in Capital Stock. If the Company at any time or from time to
time after the date hereof shall (i) pay a dividend or make a distribution of
Common Stock, in each case, consisting of shares of Common Stock, (ii) subdivide
its outstanding shares of Common Stock into a larger number of shares of Common
Stock (including by means of a stock split), (iii) combine its outstanding
shares of Common Stock into a smaller number of shares of Common Stock or (iv)
issue, in a reclassification of the Common Stock, other securities of the
Company (including any such reclassification in connection with a consolidation
or merger of the Company in which the Company is the surviving entity), the
number of Shares purchasable upon exercise of each Warrant immediately prior
thereto shall be adjusted so that the Holder of each Warrant shall be entitled
upon exercise to receive the kind and number of Shares or other securities of
the Company which such Holder would have owned or have been entitled to receive
after the happening of any of the events described above, had such Warrant been
exercised immediately prior to the happening of such event or any record date
with respect thereto. An adjustment made pursuant to this paragraph (a) shall
become effective on the effective date of such event retroactive to the record
date, if any, for such event.

     (b) Distributions. If the Company at any time or from time to time after
the date hereof shall distribute to all holders of Common Stock (including any
such distribution made to the shareholders of the Company in connection with a
consolidation or merger in which the Company is the continuing corporation)
evidences of its indebtedness, shares of another class of its capital stock,
cash or other property of any nature (other than distributions and dividends
payable in shares of Common Stock), or any options, warrants or other rights to
subscribe for or purchase any of the foregoing, then, in each case, the Exercise
Price shall be adjusted by multiplying the Exercise Price in effect immediately
prior to the record date for the determination of shareholders entitled to
receive such distribution by a fraction, the numerator of which shall be the
Market Price (as defined below) per share of Common Stock as of the business day
immediately preceding such record date, less the fair market value (as
determined in good faith by the Board of Directors of the Company (including any
authorized committee thereof, the "Board of Directors"), whose determination
shall be conclusive for all purposes and described in a reasonably detailed
statement filed with the Warrant Agent) of the portion of the evidences of
indebtedness, shares or property so to be distributed (net of the exercise price
or purchase price therefor in the case of distribution of options, warrants or
other rights to subscribe

                                       9

<PAGE>

or purchase such indebtedness, shares or other property), applicable to one
share, and the denominator of which shall be such Market Price per share of
Common Stock as of the business day immediately preceding such record date. Such
adjustment shall be made whenever any such distribution is made and shall become
effective at the close of business on such record date.

     The term "Market Price" shall mean (x) the average closing price of a share
of Common Stock for the ten consecutive trading days immediately preceding, but
not including, the date of determination (which shall be the date of exercise of
this Warrant in the case such determination results from exercise) as reported
on the principal national securities exchange on which the shares of Common
Stock are listed or admitted to trading or (y) if not listed or admitted to
trading on any national securities exchange, the average of the closing bid and
asked prices during such ten trading day period in the over-the-counter market
as reported by the Nasdaq National Market System or any other over-the-counter
quotation system or (z) in all other cases, as determined in good faith by the
Board of Directors, whose determination shall be conclusive absent manifest
error.

     (c) Reorganization, Reclassification, Consolidation, Merger or Sale;
Termination Event.

          (i) Subject to Section 14(c)(ii), if any capital reorganization of the
Company, or any reclassification of the Common Stock, or any consolidation or
merger of the Company with or into any other person, or any sale, lease or other
transfer of all or substantially all of the assets of the Company to any other
person, shall be effected in such a way that the holders of the Common Stock
shall be entitled to receive (either directly or upon subsequent liquidation)
stock, securities, cash or other property (whether such stock, securities, cash
or other property are issued or distributed by the Company or any other person)
with respect to or in exchange for the Common Stock (each such transaction, an
"Organic Change"), then, as a condition to consummation of such Organic Change,
lawful, enforceable and adequate provision shall be made whereby the Holders of
the Warrants shall thereafter have the right to acquire and receive upon
exercise of such Warrants, in lieu of or in addition to (as the case may be) the
shares of Common Stock immediately theretofore acquirable and receivable upon
exercise of such Warrants, such shares of stock, securities, cash or other
property issuable or payable in the Organic Change with respect to or in
exchange for such number of outstanding shares of Common Stock as would have
been received upon exercise of such Warrants had such Warrants been exercised
immediately before such Organic Change, subject to adjustments for events
subsequent to the effective date of such Organic Change as nearly equivalent as
may be practicable to the adjustments provided for in this Section 14. The
Company shall not effect any Organic Change unless prior to the consummation
thereof, the successor entity (if different from the Company) resulting from
such consolidation or merger or the entity purchasing, leasing or otherwise
acquiring all or substantially all of its assets assumes by written instrument
delivered to the Warrant Agent the obligation to deliver to each such Holder
such shares of stock, securities, cash or other property as, in accordance with
the foregoing provisions, such Holder may be entitled to acquire upon exercise
of the Warrants. In any such event, effective provisions shall be made in the
certificate or articles of incorporation of the resulting or surviving person,
or in any contract of sale, merger, conveyance, lease, transfer or otherwise, so
that the provisions set forth in this Agreement for the protection of the rights
of the Holders of the Warrants shall

                                       10

<PAGE>

thereafter continue to be applicable. The foregoing provisions of this Section
14(c) shall similarly apply to successive reorganizations, reclassifications,
consolidations, mergers, sales, leases or other transfers, provided, that no
adjustment under this Section 14(c) shall duplicate an adjustment under Section
14(a) or 14(b). Notwithstanding the foregoing, the adjustments required by this
Section 14(c)(i) shall not apply to any transaction constituting a Termination
Event (as defined below).

          (ii) In the event that the Company or its successor entity, as
applicable, after the date hereof shall propose to effect (A) a Sale of the
Company or (B) a New Initial Public Offering (the consummation of any such
transaction is referred to herein as a "Termination Event", provided that no
such transaction shall be deemed to be consummated for purposes of this Section
14(c) before the expiration of the notice period relating to the Termination
Event required under Section 16), then the Company shall cause written notice of
such Termination Event to be filed with the Warrant Agent and to be given to the
Holders of the Warrants in the manner and at the time specified in Section 16.
The Holders of Warrants shall continue to be entitled to exercise Warrants until
such Termination Event (including for such period, if any, as may be required
under the final sentence of Section 16), but each Warrant and all rights of any
Holder thereof shall automatically be canceled and terminated at the Expiration
Time (or such later time, if any, as may be determined in accordance with the
final sentence of Section 16) to the extent not exercised prior to such time,
and no Warrant may be exercised thereafter. Notwithstanding the foregoing, no
such transaction shall constitute a Termination Event, and this Section
14(c)(ii) shall not apply to such transaction, if (x) such transaction is
effected pursuant to the terms of the Plan, or (y) one or more Controlling
Stockholders (and/or their affiliates) beneficially own (such beneficial
ownership to be determined in accordance with Section 13(d) of the Exchange Act
and the rules of the SEC promulgated thereunder) more than 20% of the combined
Voting Power of the then-outstanding securities of the person surviving such
transaction, or the person purchasing, leasing or otherwise acquiring assets of
the Company, immediately after consummation of such transaction, or (z) one or
more Controlling Stockholders (and/or their affiliates) have the right under any
contractual agreement to cause to be elected a majority of the Directors of the
person surviving such transaction, or the person purchasing, leasing or
otherwise acquiring assets of the Company, immediately after consummation of
such transaction.

          (iii) As used in this Agreement, the following capitalized terms shall
have the following meanings:

     "Controlling Stockholders" means OCM Principal Opportunities Fund II, L.P.,
a Delaware limited partnership, and Audax Chart LLC, a Delaware limited
liability company, and their successors as Required Controlling Holder(s)
entitled to designate a majority of Directors pursuant to Section 7A(ii)(b)
and/or (e) of the Investor Rights Agreement.

     "Director" means a member of the Board of Directors of the Company or any
successor entity (including a successor by purchase, lease or other acquisition
of all or substantially all of the assets of the Company).

                                       11

<PAGE>

     "Exchange Act" means the Securities Exchange Act of 1934, as amended, and
the rules and regulations thereunder, as such law, rules and regulations may be
amended from time to time.

     "New Initial Public Offering" means the initial public offering of shares
of Common Stock pursuant to a Registration Statement filed at any time after the
Company has ceased to be required to file reports with the SEC pursuant to
Section 13 or Section 15(d) of the Exchange Act.

     "Registration Statement" means a registration statement filed by the
Company with the SEC for a public offering and sale of Common Stock by the
Company (other than a registration statement on Form S-8 or Form S-4, or their
successors, or any other form for a similar limited purpose, or any registration
statement covering only securities proposed to be issued in exchange for
securities or assets of another corporation).

     "Sale of the Company" means any consolidation or merger of the Company with
or into any other person (other than a Controlling Stockholder or any affiliate
thereof), or any sale, lease or other transfer of all or substantially all of
the assets of the Company to any other person (other than a Controlling
Stockholder or any affiliate thereof), which, in either case, results upon
consummation thereof in: (i) any person or group, other than a Controlling
Stockholder (and/or any affiliate thereof), becoming the beneficial owner (such
beneficial ownership to be determined in accordance with Section 13(d) of the
Exchange Act and the rules of the SEC promulgated thereunder) of more than 50%
of the combined Voting Power of the then-outstanding securities of (A) the
person surviving such transaction (in the case of a consolidation or merger) or
(B) the person purchasing, leasing or otherwise acquiring assets of the Company
(in the case of a sale, lease or other transfer of all or substantially all of
the assets of the Company); or (ii) the stockholders of the Company immediately
prior to such transaction failing to receive in such transaction in exchange
for, or upon conversion of, or otherwise in respect of their shares of Company
stock, equity securities (including shares of Company stock retained by such
stockholders) representing legal or beneficial ownership (such beneficial
ownership to be determined in accordance with Section 13(d) of the Exchange Act
and the rules of the SEC promulgated thereunder) immediately after such
transaction of at least 50% of the combined Voting Power of the then-outstanding
securities of (A) the person surviving such transaction (in the case of a
consolidation or merger) or (B) the person purchasing, leasing or otherwise
acquiring assets of the Company (in the case of a sale, lease or other transfer
of all or substantially all of the assets of the Company). Notwithstanding the
foregoing, a "Sale of the Company" shall not be deemed to have occurred for
purposes of this Agreement solely because of a merger, consolidation or sale,
lease or other transfer of all or substantially all of the assets of any Company
subsidiary, unless the assets of such subsidiary represent substantially all of
the assets of the Company.

     "Voting Power" means, at any time, the total votes relating to the
then-outstanding securities entitled to vote generally in the election of
Directors.

     (d) Other Dilutive Events. The Board of Directors shall make such
additional adjustments in application of such provisions as it deems necessary
or appropriate in its sole

                                       12

<PAGE>

discretion, to effectuate the essential intent and principles established in
paragraphs (a) through (c) above, necessary to preserve the purchase rights
represented by each Warrant.

     (e) No De Minimis Adjustment. No adjustment in the number of Shares
purchasable upon exercise of a Warrant shall be required unless such adjustment
would require an increase or decrease of at least one percent (1.0%) in the
number of Shares purchasable upon the exercise of each Warrant; provided,
however, that any adjustments that by reason of this Section 14(e) are not
required to be made shall be carried forward and taken into account in any
subsequent adjustment. All calculations shall be made to the nearest cent and to
the nearest one-hundredth of a share, as the case may be.

     (f) Exercise Price Adjustment. Whenever the number of shares of Common
Stock purchasable upon the exercise of any Warrant is adjusted as herein
provided (whether or not the Company then or thereafter elects to issue
additional Warrants in substitution for an adjustment in the number of Shares as
provided in Section 14(h)), the Exercise Price payable upon exercise of such
Warrant shall be adjusted by multiplying such Exercise Price immediately prior
to such adjustment by a fraction, of which the numerator shall be the number of
Shares purchasable upon the exercise of such Warrant immediately prior to such
adjustment, and of which the denominator shall be the number of Shares so
purchasable immediately thereafter (calculated, in each case, assuming that the
Company does not elect to issue additional Warrants in substitution for an
adjustment in the number of Shares purchasable upon exercise of a Warrant under
Section 14(h), whether or not the Company does in fact so elect).

     (g) Common Stock: Other Securities. For the purpose of this Section 14, the
term "shares of Common Stock" shall mean (i) the shares of stock designated as
the Common Stock of the Company at the date of this Agreement, or (ii) any other
class of stock resulting from successive changes or reclassification of such
shares consisting solely of changes in par value, or from par value to no par
value, or from no par value to par value. If at any time, as a result of an
adjustment made pursuant to Sections 14(a) or 14(c), the Holders of Warrants
shall become entitled to purchase any shares of the Company other than shares of
Common Stock, thereafter the number of such other shares so purchasable upon
exercise of each Warrant and the applicable Exercise Price of such shares shall
be subject to adjustment from time to time in a manner and on terms as nearly
equivalent as practicable to the provisions with respect to such shares
contained in Section 14(a) through (f), inclusive, above, and the provisions
contained in this Agreement with respect to such shares, shall apply on like
terms to any such other shares.

     (h) Issuance of Additional Warrants in Lieu of Adjustment. The Company may
elect, in its sole discretion, on or after the date of any adjustment required
by Section 14(a), to adjust the number of Warrants in substitution for an
adjustment in the number of Shares purchasable upon the exercise of a Warrant.
Each of the Warrants outstanding after such adjustment of the number of Warrants
shall be exercisable for the same number of Shares as immediately prior to such
adjustment. Each Warrant held of record prior to such adjustment of the number
of Warrants shall become that number of Warrants (calculated to the nearest
one-hundredth) obtained by dividing the applicable Exercise Price in effect
prior to adjustment of such Exercise Price by the applicable Exercise Price in
effect after adjustment of such Exercise Price. The Company shall notify the
Holders of Warrants of its election to adjust the number of Warrants in the same

                                       13

<PAGE>

manner as provided in the first paragraph of Section 16, indicating the record
date for the adjustment, and, if known at the time, the amount of the adjustment
to be made, and shall give prompt written notice thereof to the Warrant Agent.
This record date may be the date on which the Exercise Price is adjusted or any
day thereafter. Upon each adjustment of the number of Warrants pursuant to this
Section 14(h) the Company shall, as promptly as practicable, cause to be
distributed to Holders on such record date Warrant Certificates evidencing,
subject to Section 15, the additional Warrants to which such Holders shall be
entitled as a result of such adjustment, or, at the option of the Company, shall
cause to be distributed to such Holders of record in substitution and
replacement for the Warrant Certificates held by such Holders prior to the date
of adjustment, and upon surrender thereof, if required by the Company, new
Warrant Certificates evidencing all the Warrants to be issued, executed and
registered in the manner specified in Sections 4 and 5 (and which may bear, at
the option of the Company, the applicable adjusted Exercise Price) and shall be
registered in the names of the Holders on the record date specified in the
notice.

     (i) No Dilution or Impairment. The Company will not, by amendment of its
certificate of incorporation or through any consolidation, merger,
reorganization, transfer of assets, dissolution, issue or sale of securities or
any other voluntary action or agreement, avoid or seek to avoid the observance
or performance of any of the terms of this Agreement or the Warrants, but will
at all times in good faith assist in the carrying out of all such terms and in
the taking of all such action as may be necessary or appropriate in order to
protect the rights of the holder of the Warrants against dilution, exercise or
other impairment as described herein.

     (j) Changes to Form of Warrant Certificate. Irrespective of any adjustments
in an Exercise Price or the number or kind of shares of Common Stock purchasable
upon the exercise of the Warrants, Warrants theretofore or thereafter issued may
continue to express the same price and number and kind of shares of Common Stock
as are stated in the Warrants initially issuable pursuant to this Agreement. The
Company, however, may at any time in its sole discretion make any change in the
form of Warrant Certificate that it may deem appropriate to give effect to such
adjustments and that does not affect the substance of the Warrant Certificate
(including the rights, duties or obligations of the Warrant Agent), and any
Warrant Certificate thereafter issued, whether in exchange or substitution for
an outstanding Warrant Certificate or otherwise, may be in the form as so
changed.

     SECTION 15. Fractional Shares. Notwithstanding any adjustment pursuant to
Section 14 in the number of Shares purchasable upon the exercise of a Warrant,
the Company shall not be required to issue fractions of Shares upon exercise of
the Warrants, or to distribute certificates which evidence fractional Shares. If
Warrant Certificates evidencing more than one Warrant shall be surrendered for
exercise at one time by the same Holder, the number of full Shares which shall
be issuable upon exercise thereof shall be computed on the basis of the
aggregate number of Warrants so surrendered. If any fraction of a share of
Common Stock would, except for the provisions of this Section 15, be issuable
upon exercise of any Warrant or Warrants, the Company shall, at its election,
upon the exercise of such Warrant or Warrants, either (a) purchase such fraction
for an amount in cash equal to such fraction of the Market Price (as determined
pursuant to Section 14(b)) of a share of Common Stock, or (b) round up the
number of Shares issued upon exercise of such Warrant or Warrants to the next
whole integer.

                                       14

<PAGE>

     SECTION 16. Notices to Holders of Warrants. Upon any adjustment of the
number of Shares purchasable upon exercise of each Warrant, any Exercise Price
or the number of Warrants outstanding including any adjustment pursuant to
Section 14, the Company, within ten calendar days thereafter, shall (i) cause to
be filed with the Warrant Agent a certificate signed by an Officer setting forth
the event giving rise to such adjustment, such Exercise Price and either the
number of Shares purchasable upon exercise of each Warrant or the additional
number of Warrants to be issued for each previously outstanding Warrant, as the
case may be, after such adjustment and setting forth in reasonable detail the
method of calculation and the facts upon which such adjustment was made, and
(ii) cause the Warrant Agent to give to each of the registered Holders of the
Warrant Certificates at such Holder's address appearing on the Warrant Register,
written notice of such adjustments by first-class mail, postage prepaid. Where
appropriate, such notice may be given in advance and included as a part of the
notice required to be mailed under the other provisions of this Section 16.
Absent manifest error, the Warrant Agent shall be fully protected in relying in
good faith on any such certificate and in making any adjustment described
therein and shall have no duty with respect to, and shall not be deemed to have
knowledge of, any adjustment unless and until it shall have received such a
certificate.

     In case:

     (a) the Company shall order, declare, make or pay any dividend payable in
any securities upon its shares of Common Stock or make any distribution to the
holders of its shares of Common Stock; or

     (b) the Company shall offer to the holders of its shares of Common Stock
any additional shares of Common Stock or securities convertible into shares of
Common Stock or any right to subscribe thereto; or

     (c) of any reclassification of the capital stock of the Company (other than
a subdivision or combination of outstanding shares of Common Stock), or of any
consolidation or merger to which the Company is a party and for which approval
of any stockholders of the Company is required, or of the sale or transfer of
all or substantially all of the assets of the Company, or of any other Organic
Change; or

     (d) there shall be a dissolution, liquidation or winding up of the Company,
or any action is proposed that would result in a Termination Event;

then the Company shall cause prompt written notice of such event to be filed
with the Warrant Agent and shall cause the Warrant Agent to give written notice
of such event to each of the registered Holders of the Warrant Certificates at
such Holder's address appearing on the Warrant Register, by first-class mail,
postage prepaid, such giving of notice and publication to be completed at least
twenty calendar days (or thirty calendar days in the case of a Termination
Event) prior to the date fixed as a record date or the date of closing the
transfer books (or, if no such record date or date of closing of transfer books
is set or required in connection with an event specified in clause (c) or (d)
above, twenty calendar days prior to the consummation of any event specified in
clause (c) or (d) above other than a Termination Event and thirty calendar days
prior to the consummation of any Termination Event) for the determination of the
stockholders

                                       15

<PAGE>

entitled to such dividend, distribution or subscription rights, or
for the determination of stockholders entitled to vote on such proposed merger,
sale or other Organic Change or such dissolution, liquidation or winding up or
Termination Event. Such notice shall specify such record date or the date of
closing the transfer books (or the anticipated date of the event, if no such
record date or date of closing of transfer books is set or required in
connection with an event specified in clause (c) or (d) above), as the case may
be. No notice of a Termination Event shall be deemed to be an assurance that the
underlying transaction will be completed, and any such notice may set forth,
without limitation, the contingencies to which any such transaction is subject.
The failure to give the notice required by this Section 16 or any defect therein
shall not affect the legality or validity of any distribution, right, warrant,
dissolution, liquidation or winding up or the vote upon or any other action
taken in connection therewith, but, notwithstanding any other provision hereof,
no termination of the Warrants as a result of any Termination Event shall be
effective until at least thirty calendar days after the notice of the
Termination Event shall have been given.

     SECTION 17. Warrant Agent. The Warrant Agent undertakes only the duties and
obligations expressly imposed by this Agreement and the Warrant Certificate, in
each case upon the following terms and conditions, by all of which the Company
and the Holders of Warrants, by their acceptance thereof, shall be bound:

     (a) The statements contained herein and in the Warrant Certificates shall
be taken as statements of the Company, and the Warrant Agent assumes no
responsibility for the accuracy of any of the same except such as describe the
Warrant Agent or action taken or to be taken by it. Except as otherwise provided
herein, the Warrant Agent assumes no responsibility with respect to the
execution, delivery or distribution of the Warrant Certificates.

     (b) The Warrant Agent shall not be responsible for any failure of the
Company to comply with any of the covenants contained in this Agreement or in
the Warrant Certificates to be complied with by the Company, nor shall it at any
time be under any duty or responsibility to any Holder of a Warrant to make or
cause to be made any adjustment in any Exercise Price or in the number of Shares
issuable upon exercise of any Warrant (except as instructed by the Company), or
to determine whether any facts exist that may require any such adjustments, or
with respect to the nature or extent of or method employed in making any such
adjustments when made.

     (c) The Warrant Agent may consult at any time with counsel satisfactory to
it (who may also be counsel for the Company), and the Warrant Agent shall incur
no liability or responsibility to the Company or any Holder of any Warrant
Certificate in respect of any action taken, suffered or omitted by it hereunder
in good faith and in accordance with the opinion or the advice of such counsel,
absent gross negligence, bad faith or willful misconduct (each as determined by
a final order, judgment, ruling or decree of a court of competent jurisdiction)
in the selection and continued retention of such counsel and the reliance on
such counsel's advice.

     (d) The Warrant Agent shall incur no liability or responsibility to the
Company or to any Holder of any Warrant Certificate for any action taken in
reliance on any notice, resolution,

                                       16

<PAGE>

waiver, consent, order, certificate or other paper, document or instrument
believed by it to be genuine and to have been signed, sent or presented by the
proper party or parties.

     (e) The Company agrees to pay to the Warrant Agent reasonable compensation
for all services rendered by the Warrant Agent under this Agreement, to
reimburse the Warrant Agent upon demand for all reasonable expenses, taxes and
governmental charges and other charges of any kind and nature incurred by the
Warrant Agent in the preparation, administration, delivery, execution and
amendment of this Agreement and the performance of its duties under this
Agreement and to indemnify the Warrant Agent and save it harmless against any
and all losses, liabilities and reasonable expenses, including judgments,
damages, fines, penalties, claims, demands, settlements, costs and reasonable
counsel fees and expenses, for anything done or omitted by the Warrant Agent
arising out of or in connection with this Agreement except as a result of its
gross negligence, bad faith or willful misconduct (each as determined by a final
order, judgment, ruling or decree of a court of competent jurisdiction). The
reasonable costs and expenses incurred by the Warrant Agent in enforcing the
right to indemnification shall be paid by the Company unless it is determined by
a final order, judgment, decree or ruling of a court of competent jurisdiction
that the Warrant Agent is not entitled to indemnification due to its gross
negligence, bad faith or willful misconduct.

     (f) The Warrant Agent shall be under no obligation to institute any action,
suit or legal proceeding or to take any other action likely to involve expense
unless the Company or one or more registered Holders of Warrant Certificates
furnishes the Warrant Agent with reasonable security and indemnity for any costs
or expenses that may be incurred. All rights of action under this Agreement or
under any of the Warrants may be enforced by the Warrant Agent without the
possession of any of the Warrant Certificates or the production thereof at any
trial or other proceeding relative thereto, and any such action, suit or
proceeding instituted by the Warrant Agent shall be brought in its name as
Warrant Agent, and any recovery or judgment shall be for the ratable benefit of
the registered Holders of the Warrants, as their respective rights or interests
may appear.

     (g) The Warrant Agent, and any stockholder, affiliate, director, officer or
employee thereof, may buy, sell or deal in any of the Warrants or other
securities of the Company or become pecuniarily interested in any transaction in
which the Company is interested, or contract with or lend money to the Company
or otherwise act as fully and freely as though it was not the Warrant Agent
under this Agreement, or a stockholder, director, officer or employee of the
Warrant Agent, as the case may be. Nothing herein shall preclude the Warrant
Agent from acting in any other capacity for the Company or for any other legal
entity.

     (h) The Warrant Agent shall act hereunder solely as agent for the Company,
and its duties shall be determined solely by the provisions hereof. The Warrant
Agent shall not be liable for anything that it may do or refrain from doing in
connection with this Agreement except in connection with its own gross
negligence, bad faith or willful misconduct (each as determined by a final
order, judgment, decree or ruling of a court of competent jurisdiction). In no
event will the Warrant Agent be liable for special, indirect, incidental,
punitive or consequential loss or damage of any kind whatsoever, even if the
Warrant Agent has been advised of the possibility of such

                                       17

<PAGE>

loss or damage. Any liability of the Warrant Agent under this Agreement to the
Company will be limited to the amount of fees paid by the Company to the Warrant
Agent.

     (i) The Company agrees that it will perform, execute, acknowledge and
deliver or cause to be performed, executed, acknowledged and delivered all such
further and other acts, instruments and assurances as may reasonably be required
by the Warrant Agent for the carrying out or performing of the provisions of
this Agreement.

     (j) The Warrant Agent shall not be under any responsibility in respect of
the validity of this Agreement or the execution and delivery hereof (except the
due and validly authorized execution hereof by the Warrant Agent) or in respect
of the validity or execution of any Warrant Certificate (except its due and
validly authorized countersignature thereof), nor shall the Warrant Agent by any
act hereunder be deemed to make any representation or warranty as to the
authorization or reservation of the Shares to be issued pursuant to this
Agreement or any Warrant Certificate or as to whether the Shares will when
issued be validly issued, fully paid and nonassessable or as to the Exercise
Price or the number of Shares issuable upon exercise of any Warrant.

     (k) The Warrant Agent is hereby authorized and directed to accept
instructions with respect to the performance of its duties hereunder from an
Officer or any Vice President, the Treasurer, the Secretary or an Assistant
Secretary of the Company, and to apply to such officers for advice or
instructions in connection with its duties, and such instructions shall be full
authorization and protection to the Warrant Agent and the Warrant Agent shall
not be liable for any action taken, suffered to be taken, or omitted to be taken
by it in good faith in accordance with instructions of any such officer or in
good faith reliance upon any statement signed by any one of such officers of the
Company with respect to any fact or matter (unless other evidence in respect
thereof is herein specifically prescribed) which may be deemed to be
conclusively proved and established by such signed statement.

     (l) No provision of this Agreement shall require the Warrant Agent to
expend or risk its own funds or otherwise incur any financial liability in the
performance of any of its duties hereunder or in the exercise of its rights if
it believes that repayment of such funds or adequate indemnification against
such risk or liability is not reasonably assured to it.

     (m) If the Warrant Agent shall receive any notice or demand (other than
notice of or demand for exercise of Warrants) addressed to the Company by the
Holder of the Warrant Certificates pursuant to the provisions of the Warrant
Certificates, the Warrant Agent shall promptly forward such notice or demand to
the Company.

     (n) The provisions of this Section 17 shall survive the termination of this
Agreement, the exercise or expiration of the Warrants and the resignation or
removal of the Warrant Agent.

     SECTION 18. Change of Warrant Agent. If the Warrant Agent resigns (such
resignation to become effective not earlier than ninety calendar days after the
giving of written notice thereof to the Company and the registered Holders of
Warrant Certificates) or shall be adjudged a bankrupt or insolvent, or shall
file a voluntary petition in bankruptcy or make an assignment for

                                       18

<PAGE>

the benefit of its creditors or consent to the appointment of a receiver of all
or any substantial part of its property or affairs or shall generally not pay
its debts as such debts become due, or shall admit in writing its inability to
pay or meet its debts generally as they become due, or if an order of any court
shall be entered approving any petition filed by or against the Warrant Agent
under the provisions of bankruptcy laws or any similar legislation, or if a
receiver, trustee or other similar official of it or of all or any substantial
part of its property shall be appointed, or if any public officer shall take
charge or control of it or of its property or affairs, for the purpose of
rehabilitation, conservation, protection, relief, winding up or liquidation, or
becomes incapable of acting as Warrant Agent or if the Board of Directors by
resolution removes the Warrant Agent (such removal to become effective not
earlier than thirty calendar days after the filing of a certified copy of such
resolution with the Warrant Agent and the giving of written notice of such
removal to the registered holders of Warrant Certificates), the Company shall
appoint a successor to the Warrant Agent. If the Company fails to make such
appointment within a period of thirty calendar days after such removal or after
it has been so notified in writing of such resignation or incapacity by the
Warrant Agent or by the registered Holder of a Warrant Certificate (in the case
of incapacity), then the registered Holder of any Warrant Certificate may apply
to any court of competent jurisdiction for the appointment of a successor to the
Warrant Agent. Pending appointment of a successor to the Warrant Agent, either
by the Company or by such a court, the duties of the Warrant Agent shall be
carried out by the Company. Any successor Warrant Agent, whether appointed by
the Company or by such a court, shall be a bank or trust company, in good
standing, incorporated under the laws of any state or of the United States of
America, and authorized under such laws to exercise corporate trust powers and
subject to supervision or examination by federal or state authority and having a
combined capital and surplus of not less than $25,000,000. The combined capital
and surplus of any such successor Warrant Agent shall be deemed to be the
combined capital and surplus as set forth in the most recent report of its
condition published prior to its appointment pursuant to law or to the
requirements of a federal or state supervising or examining authority. As soon
as practicable after appointment of the successor Warrant Agent, the Company
shall cause written notice of the change in the Warrant Agent to be given to
each of the registered Holders of the Warrant Certificates at such Holder's
address appearing on the Warrant Register. After appointment, the successor
Warrant Agent shall be vested with the same powers, rights, duties and
responsibilities as if it had been originally named as Warrant Agent without
further act or deed. The former Warrant Agent shall deliver and transfer to the
successor Warrant Agent any property at the time held by it hereunder and
execute and deliver, at the expense of the Company, any further assurance,
conveyance, act or deed necessary for these purposes. Failure to give any notice
provided for in this Section 18 or any defect therein shall not affect the
legality or validity of the removal of the Warrant Agent or the appointment of a
successor Warrant Agent, as the case may be.

     SECTION 19. Merger, Consolidation or Change of Name of Warrant Agent. Any
person into which the Warrant Agent may be merged or converted or with which it
may be consolidated, or any person resulting from any merger, conversion or
consolidation to which the Warrant Agent is a party, or any person succeeding to
the shareholder services business of the Warrant Agent, shall be the successor
to the Warrant Agent hereunder without the execution or filing of any document
or any further act on the part of any of the parties hereto, if such person
would be eligible for appointment as a successor Warrant Agent under the
provisions of Section 18. If any of the Warrant Certificates have been
countersigned but not delivered at the

                                       19

<PAGE>

time such successor to the Warrant Agent succeeds under this Agreement, any such
successor to the Warrant Agent may adopt the countersignature of the original
Warrant Agent; and if at that time any of the Warrant Certificates shall not
have been countersigned, any successor to the Warrant Agent may countersign such
Warrant Certificates either in the name of the predecessor Warrant Agent or in
the name of the successor Warrant Agent; and in all such cases such Warrant
Certificates shall have the full force provided in the Warrant Certificates and
in this Agreement.

     If at any time the name of the Warrant Agent is changed and at such time
any of the Warrant Certificates have been countersigned but not delivered, the
Warrant Agent whose name has changed may adopt the countersignature under its
prior name; and if at that time any of the Warrant Certificates have not been
countersigned, the Warrant Agent may countersign such Warrant Certificates
either in its prior name or in its changed name; and in all such cases such
Warrant Certificates shall have the full force provided in the Warrant
Certificates and in this Agreement.

     SECTION 20. Miscellaneous.

     (a) Warrantholder Not Deemed a Stockholder. Nothing contained in this
Agreement or in any of the Warrant Certificates shall be construed as conferring
upon the Holders the right to vote or to receive dividends or to consent or to
receive notice as stockholders in respect of the meetings of stockholders or for
the election of directors of the Company or any other matter, or any rights
whatsoever as stockholders of the Company.

     (b) Notices to Company and Warrant Agent. Any notice or demand authorized
by this Agreement to be given or made by the Warrant Agent or by any registered
Holder of any Warrant Certificate to or on the Company shall be sufficiently
given or made if sent by certified mail, return receipt requested, or by
nationally recognized overnight courier service, addressed (until another
address is filed in writing by the Company with the Warrant Agent), or by
facsimile transmission with receipt confirmed, or by personal delivery as
follows:

          Chart Industries, Inc.
          5885 Landerbrook Drive
          Cleveland, Ohio 44124
          Facsimile: (440) 753-1491
          Attention: Chief Financial Officer

     If the Company fails to maintain such office or agency or fails to give
such notice of any change in the location thereof, presentation may be made and
notices and demands may be served at the principal office of the Warrant Agent.

     Any notice pursuant to this Agreement to be given by the Company or by any
registered Holder of any Warrant Certificate to the Warrant Agent shall be
sufficiently given if sent by certified mail, return receipt requested, or by
nationally recognized overnight courier service, addressed (until another
address is filed in writing by the Warrant Agent with the Company), or

                                       20

<PAGE>

by facsimile transmission with receipt confirmed, or by personal delivery as
follows (the "Warrant Agent Office"):

          National City Bank
          Corporate Trust Administration
          P.O. Box 94915
          Cleveland, Ohio 44101
          Facsimile No.: (216) 222-2649
          Attention: Sharon R. Boughter

     If the Warrant Agent shall receive any notice or demand addressed to the
Company by the Holder of a Warrant Certificate pursuant to the provisions of the
Warrant Certificates, the Warrant Agent shall promptly forward such notice or
demand to the Company.

     (c) Payment of Taxes and Charges. The Company will from time to time
promptly pay to the Warrant Agent, or make provisions satisfactory to the
Warrant Agent for the payment of, all taxes and charges that may be imposed by
the United States or any state upon the Company or the Warrant Agent in
connection with the issuance or delivery of Shares upon the exercise of any
Warrants, but any taxes or charges in connection with the issuance of Warrant
Certificates or certificates for Shares in any name other than that of the
registered Holder of the Warrant Certificate surrendered shall be paid by such
registered Holder; and, in such case, the Company shall not be required to issue
or deliver any Warrant Certificate or certificate for Shares until such taxes or
charges shall have been paid or it has been established to the Company's
satisfaction that no tax or charge is due. The Warrant Agent shall have no duty
or obligation under this Section 20(c) unless and until it is satisfied that all
such taxes and/or charges have been paid.

     (d) Entire Agreement; Amendments. This Agreement constitutes the entire
agreement and supersedes all other prior agreements and understandings, both
written and oral, among the parties, or any of them, with respect to the subject
matter hereof. This Agreement may not be amended or supplemented and no
provision hereof may be waived, except in a writing signed by both the Company
and the Warrant Agent and with the prior written consent of Holders of the
Warrants exercisable for a majority of the Shares then issuable upon exercise of
the Warrants then outstanding; provided, however, that the Company and the
Warrant Agent may from time to time supplement or amend this Agreement without
the approval of any Holders of Warrant Certificates in order to cure any
ambiguity, manifest error or other mistake in this Agreement, or to correct or
supplement any provision contained herein that may be defective or inconsistent
with any other provision herein, or to make any other provisions in regard to
matters or questions arising hereunder that the Company and the Warrant Agent
may deem necessary or desirable and that shall not adversely affect, alter or
change the interests of the Holders of the Warrants; and provided, further, that
each amendment or supplement that decreases the Warrant Agent's rights or
increases its duties and responsibilities hereunder shall also require the prior
written consent of the Warrant Agent. Notwithstanding any of the foregoing, the
Company may not increase the Exercise Price, shorten the duration of the
Warrants, or change the securities or other property for which Warrants are
exercisable without the consent of each of the Holders affected thereby.

                                       21

<PAGE>

     (e) Payments for Consent. The Company shall not directly or indirectly pay
or cause to be paid any consideration, whether by way of fee or otherwise, to
any Holder of any Warrants for or as an inducement to any consent, waiver or
amendment of any of the terms or provisions of this Agreement or the Warrant
Certificates unless such consideration is offered to be paid or agreed to be
paid to all Holders of the Warrants which so consent, waive or agree to amend in
the time frame set forth in solicitation documents relating to such consent,
waiver or amendment.

     (f) Successors. All the covenants and provisions of this Agreement by or
for the benefit of the Company or the Warrant Agent shall bind and inure to the
benefit of their respective successors and assigns hereunder.

     (g) Governing Law Venue and Jurisdiction. This Agreement and each Warrant
Certificate issued hereunder shall be deemed to be a contract made under the
laws of the State of Delaware and for all purposes shall be governed by and
construed in accordance with the laws of such State, irrespective of any
contrary result otherwise required by applicable conflict or choice of law
rules. Each party hereto consents and submits to the jurisdiction of the courts
of the State of Delaware and of the federal courts of the District of Delaware
in connection with any action or proceeding brought against it that arises out
of or in connection with, that is based upon, or that relates to this Agreement
or the transactions contemplated hereby. In connection with any such action or
proceeding in any such court, each party hereto hereby waives personal service
of any summons, complaint or other process and hereby agrees that service
thereof may be made in accordance with the procedures for giving notice set
forth in Section 20(b) hereof. Each party hereto hereby waives any objection to
jurisdiction or venue in any such court in any such action or proceeding and
agrees not to assert any defense based on lack of jurisdiction or venue in any
such court in any such action or proceeding.

     (h) Benefits of this Agreement. Nothing in this Agreement shall be
construed to give to any person or corporation other than the Company, the
Warrant Agent and the registered Holders of the Warrant Certificates any legal
or equitable right, remedy or claim under this Agreement, and this Agreement
shall be for the sole and exclusive benefit of the Company, the Warrant Agent
and the registered holders of the Warrant Certificates.

     (i) Holder of Warrant May Enforce Rights. Notwithstanding any other
provision of this Agreement, any Holder of a Warrant Certificate, without the
consent of the Warrant Agent, the holder of any Shares or the Holder of any
other Warrant Certificate, may, in his, her or its own behalf and for his, her
or its own benefit, enforce, and may institute and maintain any suit, action or
proceeding against the Company suitable to enforce, or otherwise in respect of,
his, her or its right to exercise the Warrants evidenced by his, her or its
Warrant Certificate in the manner provided in the Warrant Certificate and in
this Agreement.

     (j) Obtaining of Governmental Permits. The Company will from time to time,
take all action which may be necessary to obtain and keep effective any and all
permits, consents and approvals of governmental agencies and authorities and
securities act filings under United States federal and state laws which may be
or become required in connection with the issuance, sale, transfer and delivery
of the Shares issued upon exercise of the

                                       22

<PAGE>

Warrants, the exercise of the Warrants, the issuance, sale, transfer and
delivery of the Warrants, or upon the expiration of the period during which the
Warrants are exercisable.

     (k) Counterparts. This Agreement may be executed in any number of
counterparts and each such counterpart shall for all purposes be deemed to be an
original, and all such counterparts shall together constitute but one and the
same instrument.

     (l) Headings. The headings of sections of this Agreement have been inserted
for convenience of reference only, are not to be considered a part hereof and in
no way modify or restrict any of the terms or provisions hereof.

     (m) Meaning of Terms Used in Agreement. The language used in this Agreement
shall be deemed to be the language chosen by the parties to express their mutual
intent, and no rule of strict construction shall be applied against any party.
Any references to any federal, state, local or foreign statute or law shall also
refer to all rules and regulations promulgated thereunder, unless the context
otherwise requires. Unless the context otherwise requires: (i) a term has the
meaning assigned to it by this Agreement; (ii) forms of the word "include" mean
that the inclusion is not limited to the items listed; (iii) "or" is disjunctive
but not exclusive; (iv) words in the singular include the plural, and in the
plural include the singular; (v) provisions apply to successive events and
transactions; (vi) "hereof", "hereunder", "herein" and "hereto" refer to the
entire Agreement and not any section or subsection; (vii) "business day" means
any day, except for Saturday and Sunday, on which banks are not required or
authorized by law or executive order to close in New York, New York; (viii)
"affiliate" shall have the meaning specified in Rule 12b-2 of the Exchange Act;
(ix) "control" shall have the meaning specified in Rule 12b-2 of the Exchange
Act; (x) "person" means a natural person, a partnership, a corporation, a
limited liability company, an association, a joint stock company, a trust, a
joint venture, an unincorporated organization or other entity, or a governmental
entity or any department, agency or political subdivision thereof; and (xi)
references to sections are references to sections of this Agreement. Additional
terms used in this Agreement are defined in Section 14(c)(iii).

     (n) Severability. If any part of this Agreement shall be held to be invalid
or unenforceable by any court, or regulatory agency or body, such invalidity or
unenforceability shall attach only to such part and shall not affect the
validity or enforceability of the rest of this Agreement.

                      [The next page is the signature page]

                                       23

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Warrant Agreement
to be executed and delivered as of the day and year first above written.

                                        CHART INDUSTRIES, INC.

                                        By: /s/ Michael F. Biehl
                                            --------------------------
                                            Name: Michael F. Biehl
                                            Title: Chief Financial Officer and
                                                   Treasurer

                                        NATIONAL CITY BANK,
                                        as Warrant Agent

                                        By: /s/ Sharon R. Boughter
                                            --------------------------
                                            Name: Sharon R. Boughter
                                            Title: Officer

                                       24

<PAGE>

                                    EXHIBIT A

                      [FORM OF FACE OF WARRANT CERTIFICATE]

                          VOID AFTER SEPTEMBER 15, 2010

NO REGISTRATION OR TRANSFER OF THE SECURITIES ISSUABLE PURSUANT TO THE WARRANTS
WILL BE RECORDED ON THE BOOKS OF THE COMPANY UNTIL THE PROVISIONS OF SECTION 6
OF THE WARRANT AGREEMENT HAVE BEEN COMPLIED WITH.

No.                                       WARRANTS TO PURCHASE
                                                               -----------------
---------------                           SHARES OF COMMON STOCK

                             CHART INDUSTRIES, INC.

                        WARRANTS TO PURCHASE COMMON STOCK

     This Warrant Certificate ("Warrant Certificate") certifies that          or
                                                                     --------
its registered assigns, is the registered holder of Warrants (the "Warrant") of
Chart Industries, Inc., a Delaware corporation (the "Company"), to purchase the
number of shares (the "Shares") of Common Stock, par value $0.01 per share (the
"Common Stock"), of the Company set forth above. The Warrants expire on the
earlier to occur of (i) 5:00 p.m., Eastern Time on September 15, 2010, or (ii)
the time of consummation of a transaction constituting a Termination Event (as
described in Section 14(c) of the Warrant Agreement related hereto) (the
"Expiration Time") and entitle the holder to purchase from the Company the
number of fully paid and nonassessable Shares set forth above (subject to
adjustment under the Warrant Agreement) at the exercise price (the "Exercise
Price") multiplied by the number of Shares set forth above (the "Exercise
Amount"), payable in the manner otherwise set forth below to the Warrant Agent
at its corporate office, no later than 5:00 p.m., Eastern Time, on the business
day immediately prior to the Settlement Date (as defined in the Warrant
Agreement). The initial Exercise Price shall be $32.97.

     Subject to the terms and conditions set forth herein and in the Warrant
Agreement, the Warrants represented by this certificate may be exercised by the
Holder thereof, by:

          (i) providing written notice of such election ("Warrant Exercise
Notice") to exercise the Warrants to the Warrant Agent at the address set forth
in the Warrant Agreement, "Re: Chart Industries, Inc. Warrant Exercise", by
certified mail, return receipt requested, by nationally recognized overnight
courier service, by hand or by facsimile, no later than the Expiration Time,
which Warrant Exercise Notice shall be in the form of an election to purchase
Shares of the Company substantially in the form set forth in Exhibit B to the
Warrant Agreement, properly completed and executed by the Holder;

                                      A-1

<PAGE>

          (ii) delivering no later than 5:00 p.m., Eastern Time, on the business
day immediately prior to the Settlement Date the Warrant Certificate(s)
evidencing such Warrants to the Warrant Agent; and

          (iii) paying the applicable Exercise Amount, together with any
applicable taxes and governmental charges (a) in cash (including by wire
transfer in immediately available funds to an account designated by the
Company), (b) by an official bank check or cashier's check, (c) by Cashless
Exercise (as defined in the Warrant Agreement), or (d) by any combination of the
foregoing.

     The Exercise Price and the number of shares of Common Stock purchasable
upon exercise of the Warrants represented by this Certificate are subject to
adjustment upon the occurrence of certain events as set forth in the Warrant
Agreement.

     No Warrant may be exercised after the Expiration Time. After the Expiration
Time, the Warrants will become wholly void and of no value.

     REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS WARRANT
CERTIFICATE SET FORTH ON THE REVERSE HEREOF. SUCH FURTHER PROVISIONS SHALL FOR
ALL PURPOSES HAVE THE SAME EFFECT AS THOUGH FULLY SET FORTH AT THIS PLACE.

     This Warrant Certificate shall not be valid unless countersigned by the
Warrant Agent.

     IN WITNESS WHEREOF, the Company has caused this Warrant Certificate to be
executed by its duly authorized officer.

Dated:
       ------------------                           CHART INDUSTRIES, INC.

                                                    By:
                                                        ------------------------
                                                    Name:
                                                    Title:

Countersigned:

--------------------------------------
as Warrant Agent

By:
    ----------------------------------
Name:
Title:

                                      A-2

<PAGE>

                                      A-2

<PAGE>

                                    EXHIBIT A

                    [FORM OF REVERSE OF WARRANT CERTIFICATE]

                             CHART INDUSTRIES, INC.

     The Warrants evidenced by this Warrant Certificate are a part of a duly
authorized issue of Warrants to purchase a maximum of 280,281 shares (as
adjusted from time to time) of Common Stock issued pursuant to that certain
Warrant Agreement, dated as of September 15, 2003 (the "Warrant Agreement"),
duly executed and delivered by the Company and National City Bank, as Warrant
Agent (the "Warrant Agent"). The Warrant Agreement hereby is incorporated by
reference in and made a part of this instrument and is hereby referred to for a
description of the rights, limitation of rights, obligations, duties and
immunities thereunder of the Warrant Agent, the Company and the Holders (the
words "Holders" or "Holder" meaning the registered holders or registered holder)
of the Warrants. A copy of the Warrant Agreement may be inspected at the Warrant
Agent Office and is available upon written request addressed to the Company. All
capitalized terms used herein but not defined that are defined in the Warrant
Agreement shall have the meanings assigned to them therein.

     Warrants may be exercised to purchase Shares from the Company from the
Consummation Date through the Expiration Time, at the Exercise Price set forth
on the face hereof, subject to adjustment as described in the Warrant Agreement.
Subject to the terms and conditions set forth herein and in the Warrant
Agreement, the Holder of the Warrants evidenced by this Warrant Certificate may
exercise such Warrant by:

          (i) providing a Warrant Exercise Notice to the Warrant Agent at the
address set forth in the Warrant Agreement, "Re: Chart Industries, Inc. Warrant
Exercise", by certified mail, return receipt requested, by nationally recognized
overnight courier service, by hand or by facsimile, no later than the Expiration
Time, which Warrant Exercise Notice shall be in the form of an election to
purchase Shares of Common Stock of the Company substantially in the form set
forth in Exhibit B to the Warrant Agreement, properly completed and executed by
the Holder;

          (ii) delivering no later than 5:00 p.m., Eastern Time, on the business
day immediately prior to the Settlement Date, the Warrant Certificates
evidencing such Warrants to the Warrant Agent; and

          (iii) paying the applicable Exercise Amount, together with any
applicable taxes and governmental charges (a) in cash (including by wire
transfer in immediately available funds to an account designated by the
Company), (b) by an official bank check or cashier's check, (c) by Cashless
Exercise, or (d) by any combination of the foregoing.

     The Exercise Amount shall be payable by wire transfer in immediately
available funds of the Exercise Amount to an account of the Warrant Agent
specified in writing by the Warrant Agent for such purpose or by delivery of an
official bank check or cashier's check in immediately available funds of the
Exercise Amount to the Warrant Agent at its corporate office,

                                      A-R-1

<PAGE>

no later than 5:00 p.m., Eastern Time, on the business day immediately prior to
the Settlement Date. The initial Exercise Price shall be $32.97.

     In the event that upon any exercise of the Warrants evidenced hereby the
number of Shares actually purchased shall be less than the total number of
Shares purchasable upon exercise of the Warrants evidenced hereby, there shall
be issued to the holder hereof, or such holder's assignee, a new Warrant
Certificate evidencing the Warrants to purchase the Shares not so purchased. No
adjustment shall be made for any cash dividends on any Shares issuable upon
exercise of this Warrant. After the Expiration Time, unexercised Warrants shall
become wholly void and of no value.

     The Company shall not be required to issue fractions of Shares or any
certificates that evidence fractional Shares. If any fraction of a share of
Common Stock would, except for the provisions of the preceding sentence, be
issuable upon exercise of any Warrant or Warrants, the Company shall, at its
election, either (i) purchase such fraction for an amount in cash equal to such
fraction of the Market Price (as defined in the Warrant Agreement) of a share of
Common Stock or (ii) round up the number of Shares issued upon exercise of such
Warrant or Warrants to the next whole integer.

     Warrant Certificates, when surrendered at the Warrant Agent Office by the
Holder thereof in person or by a legal representative or attorney duly
authorized in writing, or by mail may be exchanged, in the manner and subject to
the limitations provided in the Warrant Agreement, but without payment of any
service charge, for another Warrant Certificate or Warrant Certificates of like
tenor evidencing Warrants to purchase in the aggregate a like number of Shares.

     No Warrants may be sold, exchanged or otherwise transferred in violation of
the Securities Act or state securities laws. The Company or the Warrant Agent
may require that, to the extent reasonable as a condition to any sale, exchange
or transfer of a Warrant that the holder deliver to the Company and the Warrant
Agent an opinion of counsel, which opinion of counsel shall be reasonably
satisfactory to the Company, to the effect that such sale, exchange or transfer
is made in compliance with the Securities Act and all applicable state
securities laws or pursuant to an exempt transaction under the Securities Act
and such state securities laws. The provisions of this paragraph shall not apply
to the exercise of any Warrants to the extent that the Shares issued upon such
exercise (and any unexercised portion of the Warrant so exercised) shall be
issued to the same Holder that exercised such Warrants.

     The Company and Warrant Agent may deem and treat the Holder hereof as the
absolute owner of this Warrant Certificate (notwithstanding any notation of
ownership or other writing hereon made by anyone) for the purpose of any
exercise hereof and for all other purposes, and neither the Company nor the
Warrant Agent shall be affected by any notice to the contrary.

                                      A-R-2

<PAGE>

                                    EXHIBIT B

                         [FORM OF ELECTION TO EXERCISE]

                  (TO BE EXECUTED UPON EXERCISE OF THE WARRANT)

     The undersigned hereby irrevocably elects to exercise the right,
represented by this Warrant Certificate, to purchase          shares of Common
                                                     --------
Stock of Chart Industries, Inc. (the "Company") at the Exercise Price of
                                                                         ------
per share. The undersigned represents, warrants and promises that it has the
full power and authority to exercise and deliver the Warrants exercised hereby.

     The undersigned represents, warrants and promises that it has delivered or
will deliver in payment for such Shares $        by wire transfer in immediately
                                         -------
available funds of the Exercise Amount to an account of the Warrant Agent
specified in writing by the Warrant Agent for such purpose or by delivery of an
official bank check or cashier's check in immediately available funds of the
Exercise Amount and the remainder of such Exercise Amount, if any, to be paid in
the form of surrender of Warrants pursuant to a Cashless Exercise (as defined in
the Warrant Agreement) for        Shares of Common Stock at the current Cashless
                           ------
Exercise Ratio (as defined in the Warrant Agreement) to the Warrant Agent at its
corporate office, no later than 5:00 p.m., Eastern Time, on the business day
immediately prior to the Settlement Date.

     The undersigned requests that a certificate representing the Shares be
registered and delivered as follows:

                                                 -------------------------------
                                                              Name

                                                 -------------------------------
                                                             Address

                                                 -------------------------------
                                                 Delivery Address (if different)

                                       B-1

<PAGE>

     If such number of Shares is less than the aggregate number of Shares
purchasable hereunder, the undersigned requests that a new Warrant Certificate
representing the balance of such Shares shall be registered and delivered as
follows:

                                                 -------------------------------
                                                              Name

                                                 -------------------------------
                                                             Address

                                                 -------------------------------
                                                 Delivery Address (if different)

---------------------------------                -------------------------------
Social Security or Other Taxpayer                           Signature
Identification Number of Holder

                                                 Note: The above signature must
                                                 correspond with the name as
                                                 written upon the face of this
                                                 Warrant Certificate in every
                                                 particular, without alteration
                                                 or enlargement or any change
                                                 whatsoever. If the certificate
                                                 representing the Shares or any
                                                 Warrant Certificate
                                                 representing Warrants not
                                                 exercised is to be registered
                                                 in a name other than that in
                                                 which this Warrant Certificate
                                                 is registered, the signature
                                                 of the holder hereof must be
                                                 guaranteed

SIGNATURE GUARANTEED:

                                       B-2

<PAGE>

                                    EXHIBIT C

                              [FORM OF ASSIGNMENT]

                (TO BE EXECUTED BY THE REGISTERED HOLDER IF SUCH
               HOLDER DESIRES TO TRANSFER THE WARRANT CERTIFICATE)

     FOR VALUE RECEIVED, the undersigned registered holder hereby sells, assigns
and transfers unto [GRAPHIC OMITTED]

                       ----------------------------------
                                Name of Assignee

                       ----------------------------------
                               Address of Assignee

this Warrant Certificate, together with all right, title and interest therein,
and does irrevocably constitute and appoint                        attorney, to
                                            ----------------------
transfer the within Warrant Certificate to purchase       shares of Common Stock
                                                    -----
to which the Warrant Certificate relates on the books of the Warrant Agent, with
full power of substitution.

         ------------------                      -------------------------------
                Dated                                      Signature

                                                 Note: The above signature must
                                                 correspond with the name as
                                                 written upon the face of this
                                                 Warrant Certificate in every
                                                 particular, without alteration
                                                 or enlargement or any change
                                                 whatsoever

Social Security or Other Taxpayer
Identification Number of Assignee

SIGNATURE GUARANTEED:

                                       C-1

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