Document:

EX-10.11

 

Exhibit 10.11

Execution Copy

Confirmation of Additional OTC Warrant Transaction

	 	 	 	 	 
	Date:

	 	November 15, 2006

	 
	 	 	 	 
	To:

	 	General Cable
Corporation (“Counterparty”)

	 
	 	 	 	 
	From:

	 	Credit Suisse International (“Dealer”)

	 
	 	 	 	 
	Reference No.:

	 	9356471

Dear Sir / Madam:

     The purpose of this letter agreement (this “Confirmation”) is to confirm the terms and
conditions of the above-referenced transaction entered into among Counterparty, Credit Suisse
International and Credit Suisse, New York branch (the “Agent”) on the Trade Date specified
below (the “Transaction”). This Confirmation constitutes a “Confirmation” as referred to
in the Agreement specified below.

     The definitions and provisions contained in the 2000 ISDA Definitions (the “Swap
Definitions”) and the 2002 ISDA Equity Derivatives Definitions (the “Equity
Definitions” and, together with the Swap Definitions, the “Definitions”), in each case
as published by the International Swaps and Derivatives Association, Inc., are incorporated into
this Confirmation. In the event of any inconsistency between the Swap Definitions and the Equity
Definitions, the Equity Definitions will govern, and in the event of any inconsistency between the
Definitions and this Confirmation, this Confirmation will govern. References herein to a
“Transaction” shall be deemed to be references to a “Share Option Transaction” for the purposes of
the Equity Definitions and to a “Swap Transaction” for the purposes of the Swap Definitions. For
purposes of this Transaction, “Warrant Style”, “Warrant Type”, “Number of Warrants” and “Warrant
Entitlement” (each as defined below) shall be used herein as if such terms were referred to as
“Option Style”, “Option Type”, “Number of Options” and “Option Entitlement”, respectively, in the
Definitions.

     This Confirmation evidences a complete binding agreement between you and us as to the terms of
the Transaction to which this Confirmation relates. This Confirmation (notwithstanding anything to
the contrary herein), shall be subject to, and form part of, an agreement in the 1992 form of the
ISDA Master Agreement (Multicurrency Cross Border) (the “Master Agreement” or
“Agreement”) as if we had executed an agreement in such form (but without any Schedule and
with elections specified in the “ISDA Master Agreement” Section of this Confirmation) on the Trade
Date. In the event of any inconsistency between the provisions of that Agreement and this
Confirmation, this Confirmation will prevail for the purpose of this Transaction. The parties
hereby agree that the Transaction evidenced by this Confirmation shall be the only Transaction
subject to and governed by the Agreement.

     The terms of the particular Transaction to which this Confirmation relates are as follows:

	 	 	 
	General Terms:
	 	 
	 
	 	 
	Trade Date:

	 	November 15, 2006
	 
	 	 
	Effective Date:

	 	November 15, 2006 (the “scheduled Effective Date”) subject to cancellation of the
OTC Warrant Transaction prior to 5:00 p.m. (New York City time) on such date by the Counterparty or Dealer. In the event of such
cancellation, all payments, if any, previously made hereunder shall be returned to the person making such payment, including the
Premium, and, in the event of a cancellation by Counterparty or a cancellation by Dealer for the reason that, due

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	 	to events occurring after the time of execution of this Confirmation, it has become commercially impracticable for Dealer to perform its
obligations under the Transaction, Counterparty shall pay Dealer an amount equal to the product of (a) the Number of Warrants and
(b) 0.30 multiplied by an amount equal to the excess, if any, of the closing price of the Shares on the Effective Date over the
closing price of the Shares on the Trade Date (the “Break Expense”); provided that in no event shall the Break Expense exceed the
product of 15% times U.S.$7,000,000.  Dealer and Counterparty agree that actual damages would be difficult to ascertain under these
circumstances and that the amount of liquidated damages resulting from the determination in the preceding sentence is a good faith
estimate of such damages and not a penalty.  Failure by a party to deliver the documents specified to be delivered by it in
paragraph (b) under “Delivery Requirements” below at or prior to 5:00 p.m. (New York City time) on the scheduled Effective Date
shall (unless waived by the other party) be deemed to be a cancellation by the party failing to deliver.

	 
	 	 
	Warrant Style:
	 	European
	 
	 	 
	Warrant Type:
	 	Call
	 
	 	 
	Seller:
	 	Counterparty
	 
	 	 
	Buyer:
	 	Dealer
	 
	 	 
	Shares:
	 	Shares of common stock, $0.01 par value, of Counterparty (Security Symbol: “BGC”).
	 
	 	 
	Number of Warrants:
	 	119,136
	 
	 	 
	Daily Number of Warrants:
	 	For any day, the unexercised Number of Warrants on such day divided by
the remaining number of Expiration Dates (including such day) and rounded down to the nearest whole number, with the balance of the
Number of Warrants exercised on the final Expiration Date.

	 
	 	 
	Warrant Entitlement:
	 	One (1) Share per Warrant
	 
	 	 
	Strike Price:
	 	$76.00
	 
	 	 
	Premium:
	 	$1,358,400
	 
	 	 
	Premium Payment Date:
	 	The Effective Date; provided no cancellation of the OTC Warrant Transaction
has occurred prior to 5:00 p.m. (New York City time) on such date.

	 	 	 
	Exchange:

	 	New York Stock Exchange
	 
	 	 
	Related Exchange(s):

	 	All Exchanges
	 
	 	 
	Full Exchange Business Day:

	 	A Scheduled Trading Day that has a scheduled closing time for its
regular trading session at 4:00 p.m. (New York City time) or the then standard closing time for regular trading on the Exchange and
is not a Disrupted Day.
	 
	 	 
	Procedures for Exercise:
	 	 
	 
	 	 
	Expiration Time:

	 	11:59 p.m. (New York City time).

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	Expiration Dates:

	 	The fifteen (15) consecutive Full Exchange Business Days beginning on and
including February 13, 2014 each shall be an Expiration Date for a number of Warrants equal to the Daily Number of Warrants on such
date.
	 
	 	 
	Exercise Dates:

	 	Each Expiration Date
	 
	 	 
	Automatic Exercise:

	 	Applicable; provided that Section 3.4(a) of the Equity Definitions shall apply
to Net Physical Settlement; and provided further that, unless all Warrants have been previously exercised hereunder, a number of
Warrants for each Expiration Date equal to the Daily Number of Warrants for such Expiration Date shall be deemed to be automatically
exercised.
	 
	 	 
	Counterparty’s Telephone
	 	 
	Number and Telex and/or
	 	 
	Facsimile Number and
	 	 
	Contact Details for purpose
	 	 
	of Giving Notice:

	 	General Cable Corporation
	 

	 	4 Tesseneer Drive
	 

	 	Highland Heights, KY 41076-9753
	 

	 	Attention: Brian J. Robinson
	 

	 	Senior Vice President, Controller and Treasurer
	 

	 	Facsimile No.: (859) 572-8441
	 

	 	Telephone No.: (859) 572-8483
	 
	 	 
	 

	 	General Cable Corporation
	 

	 	4 Tesseneer Drive
	 

	 	Highland Heights, KY 41076-9753
	 

	 	Attention: Robert J. Siverd
	 

	 	Executive Vice President, General Counsel and Secretary
	 

	 	Telephone No.: (859) 572-8890
	 

	 	Facsimile No.: (859) 572-8444
	 
	 	 
	Valuation:
	 	 
	 
	 	 
	Valuation Dates:

	 	Each Exercise Date
	 
	 	 
	Settlement Terms:
	 	 
	 
	 	 
	Settlement Price:

	 	For each Valuation Date, the Volume
Weighted Average Price of the Shares
(“VWAP”) calculated from 9:45 a.m. to 3:45
p.m., as observed on the Bloomberg “VAP”
Page. Section 6.3(a) of the Equity
Definitions is hereby amended by replacing
the words “during the one hour period that
ends at the relevant Valuation Time,
Latest Exercise Time, Knock-in Valuation
Time or Knock-out Valuation Time, as the
case may be” with the following words: “prior to 3:45 p.m. on the relevant
Valuation Date”.
	 
	 	 
	Settlement Method:

	 	Net Physical Settlement only.
	 
	 	 
	Net Physical Settlement:

	 	Subject to “Covenants relating to Net
Physical Settlement” below, Counterparty
shall deliver to Dealer on the Settlement
Date a number of Shares (the “Delivered
Shares”) equal to the Share Delivery
Quantity, provided that in the

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	 	event that
the number of Shares calculated comprises
any fractional Share, the Share Delivery
Quantity shall be rounded up or down to
the nearest integral number of Shares.
	 
	 	 
	Share Delivery Quantity:

	 	For each Exercise Date, a number of
Shares, as calculated by the Calculation
Agent, equal to the Net Physical
Settlement Amount for such Exercise Date
divided by the Settlement Price on the
Valuation Date in respect of such
Settlement Date.
	 
	 	 
	Net Physical Settlement Amount:

	 	For any Exercise Date, an amount equal to
the product of (i) the Number of Warrants
being exercised on the relevant Exercise
Date, (ii) the Strike Price Differential
for such Exercise Date and (iii) the
Warrant Entitlement.
	 
	 	 
	Strike Price Differential:

	 	For any Valuation Date, (i) if the
Settlement Price is greater than the
Strike Price, an amount equal to the
excess of such Settlement Price over the
Strike Price for such Valuation Date or
(ii) if such Settlement Price is less than
or equal to the Strike Price, zero.
	 
	 	 
	Settlement Date:

	 	Settlement with respect to each Exercise
Date shall occur on the third
(3rd) Full Exchange Business
Day following the final Valuation Date,
provided that Dealer shall have the right
to request by prior written notice to
Counterparty a Settlement Date with
respect to any Exercise Date and the
related Share Delivery Quantity that is
three (3) Full Exchange Business Days
following such Exercise Date. Such
request shall not unreasonably be denied.
	 
	 	 
	Covenants relating to Net
	 	 
	Physical Settlement:

	 	If, on or before the 30th
Business Day following delivery of Shares
hereunder, Dealer notifies the
Counterparty that Dealer has reasonably
determined after advice from counsel that
there is a considered risk that such
Shares are subject to restrictions on
transfer in the hands of Dealer pursuant
to the rules and regulations promulgated
under the Securities Act of 1933, as
amended (“Securities Act”), then
Counterparty shall either (i) deliver
Shares that are covered by an effective
registration statement of Counterparty for
immediate resale by Dealer or (ii) agree
to deliver additional Shares in the amount
and manner specified in sub-paragraph (B)
or (C), as applicable, hereto.
	 
	 	 
	 

	 	(A) If Counterparty elects to deliver Shares as described in above
clause (i), then Counterparty shall
	 
	 	 
	 

	 	(a) afford Dealer a reasonable opportunity to conduct a due diligence
investigation with respect to Counterparty that is customary in scope
for underwritten offerings of equity securities registered for
resale;
	 
	 	 
	 

	 	(b) promptly file and use commercially reasonable efforts to obtain
the effectiveness of a registration statement for immediate resale
(the “Registration Statement”) in form and content reasonably
satisfactory to Dealer and filed pursuant to Rule 415 under the
Securities Act, and such prospectuses as Dealer may reasonably
request to comply with the applicable prospectus delivery
requirements (the “Prospectus”) for the resale by Dealer of
such number of Shares as Dealer shall reasonably specify in
accordance with this paragraph, such Registration Statement to be
effective and Prospectus to be current until the earliest of the date
on which (1) all Delivered Shares have been sold by Dealer, (2)
Dealer has advised Counterparty that it no longer requires that such
Registration Statement be effective, (3) all remaining Delivered
Shares could be sold by Dealer without registration pursuant to Rule
144 promulgated under the Securities Act (the “Registration
Period”) or (4) Counterparty has provided a

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	 	legal opinion of
nationally recognized counsel in form and substance satisfactory to
Dealer (with customary assumptions and exceptions) that the Shares
issuable upon exercise of these Warrants will be freely tradable
under the Securities Act upon delivery to Dealer and not subject to
any legend restricting transferability. It is understood that the
Registration Statement and Prospectus may cover a number of Shares
equal to the aggregate number of Shares (if any) reasonably estimated
by Dealer to be potentially deliverable by Counterparty in connection
with Net Physical Settlement hereunder (not to exceed the Maximum
Deliverable Share Amount) and shall be subject to the same suspension
of sales during “blackout dates” as provided in the following
paragraph; and
	 
	 	 
	 

	 	(c) Counterparty will enter into a registration rights agreement with
Dealer in form and substance reasonably acceptable to Dealer and
Counterparty (“Registration Rights Agreement”), which
agreement will contain among other things, customary representations
and warranties and indemnification, restrictions on sales during
“blackout dates”, provide for delivery of comfort letters, opinions
of counsel, due diligence rights and other rights relating to the
registration of a number of Shares equal to the number of Delivered
Shares and other Shares deliverable hereunder up to the Maximum
Deliverable Share Amount.
	 
	 	 
	 

	 	(d) Counterparty shall promptly pay to Dealer a $0.04 per Share fee
with all Shares delivered in connection with Net Physical Settlement
pursuant to a Registration Statement.
	 
	 

	 	(B) If Counterparty elects to deliver Shares as described in above
clause (ii), then
	 
	 	 
	 

	 	(a) Counterparty shall afford Dealer and any potential institutional
purchaser of any Shares identified by Dealer a reasonable opportunity
to conduct a due diligence investigation with respect to Counterparty
that is customary in scope for private placements of equity
securities by a publicly reporting company (if Counterparty is a
publicly reporting company at such time) to institutional purchasers
subject to execution of any customary confidentiality agreements;
	 
	 	 
	 

	 	(b) Counterparty shall enter into an agreement (a “Private
Placement Agreement”) with Dealer on commercially reasonable
terms in connection with the private placement of such Shares by
Counterparty to Dealer or an affiliate and the private resale of such
shares by Dealer or such affiliate, substantially similar to private
placement purchase agreements customary for private placements of
equity securities by a publicly reporting company (if Counterparty is
a publicly reporting company at such time) to institutional
purchasers, in form and substance commercially reasonably
satisfactory to Dealer and Counterparty, which Private Placement
Agreement shall include reasonable and customary provisions relating
to the indemnification of, and contribution in connection with the
liability of, Dealer and its affiliates, shall provide for the
payment by Counterparty of all reasonable expenses in connection with
such resale, including all reasonable and documented fees and
expenses of counsel for Dealer, shall contain representations,
warranties and agreements of Counterparty reasonably necessary or
advisable to establish and maintain the availability of an exemption
from the registration requirements of the Securities Act for such
resales, and shall use reasonable best efforts to provide for the
delivery of accountants’ “comfort letters” to Dealer or such
affiliate with respect to the financial statements and certain
financial information contained in or incorporated by reference into
any offering memorandum prepared for the resale of such Shares;

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	 	(c) Dealer shall sell the Delivered Shares in a commercially
reasonable manner, in good faith and in accordance with the terms and
limitations set forth in the Private Placement Agreement until the
amount received by Dealer for the sale of the Shares (the
“Proceeds Amount”) is equal to the Net Physical Settlement
Amount. Any remaining Delivered Shares shall be returned to
Counterparty. If the Proceeds Amount is less than the Net Physical
Settlement Amount, Counterparty shall promptly deliver upon notice
from Dealer additional Shares to Dealer until the dollar amount from
the sale of such Shares by Dealer equals the difference between the
Net Physical Settlement Amount and the Proceeds Amount. In no event
shall Counterparty be required to deliver to Dealer a number of
Shares greater than the Maximum Deliverable Share Amount.
	 
	 	 
	 

	 	(C) Notwithstanding the foregoing: (I) if
Counterparty has elected to deliver Shares as described in clause (i) above and either (a) Counterparty does not provide for the
sale of the Shares under the Registration Statement as provided in the Registration Rights Agreement or (b) some Shares cannot be
registered under the Registration Statement due to Rule 415(a)(4) under the Securities Act, then the provisions of sub-paragraph (B)
shall apply to the extent Counterparty has not satisfied its obligations hereunder by the delivery of Shares pursuant to
sub-paragraph (A). (II) If sub-paragraph (B) is applicable and Counterparty fails to satisfy its obligations under such
sub-paragraph (B), then Counterparty may deliver unregistered Shares of equivalent value to the Net Physical Settlement Amount (or,
if applicable, the unsatisfied portion thereof). The value of any unregistered Shares so delivered shall be discounted to reflect
an appropriate liquidity discount (determined by Dealer in good faith and in a commercially reasonable manner). (III) If some or
all of the Delivered Shares cannot be used to close out stock loans in the shares of Counterparty entered into to establish or
maintain short positions by Dealer in connection with this Transaction without a prospectus being required by applicable law to be
delivered to such lender, then the value of any such Delivered Shares shall reflect an additional discount of 0.15% below the value
otherwise determined under this heading “Covenants relating to Net Physical Settlement” and the number of Shares deliverable shall
be correspondingly increased. Dealer and Counterparty agree that actual damages would be difficult to ascertain under these
circumstances and that the amount of liquidated damages resulting from the determination in the preceding sentence is a good faith
estimate of such damages and not a penalty. In no event shall Counterparty be required to top-up any delivery in cash or deliver to
Dealer a number of Shares greater than the Maximum Deliverable Share Amount.
	 
	 	 
	Limitations on Net Physical
	 	 
	Settlement by Counterparty:

	 	Notwithstanding anything herein or in the Agreement to the contrary, the number of Shares that
may be delivered at settlement by Counterparty shall not exceed the product of 1.20 times the
initial Number of Warrants at any time (“Maximum Deliverable Share Amount”), as adjusted by the
Calculation Agent to account for any subdivision, stock-split, reclassification or similar
dilutive event with respect to the Shares.
	 
	 	 
	 

	 	Counterparty represents and warrants that the number of Available Shares as of the Trade Date is
greater than the Maximum Deliverable Share Amount. Counterparty covenants and agrees that
Counterparty shall not take any action of corporate governance or otherwise to reduce the number
of Available Shares below the Maximum Deliverable Share Amount.
	 
	 	 
	 

	 	For this purpose, “Available Shares” means the number of Shares Counterparty currently has
authorized (but not issued and outstanding) less the maximum

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	 	number of Shares that may be
required to be issued by Counterparty in connection with stock options, convertibles, and other
commitments of Counterparty that may require the issuance or delivery of Shares in connection
therewith.
	 
	 	 
	Dividends:
	 	 
	 
	 	 
	Extraordinary Dividends:

	 	Any and all dividends declared by the Issuer for which the ex-dividend date occurs during the
period from, and including, the Trade Date to, and including, the date on which Counterparty has
fully performed its obligations to deliver Shares hereunder.
	 
	 	 
	Adjustments:
	 	 
	 
	 	 
	Method of Adjustment:

	 	Calculation Agent Adjustment
	 
	 	 
	Extraordinary Events:
	 	 
	 
	 	 
	Consequences of Merger Events:

	 	(a) Share-for-Share: Calculation Agent Adjustment
	 
	 	 
	 

	 	(b) Share-for-Other: Calculation Agent Adjustment
	 
	 	 
	 

	 	(c) Share-for-Combined: Calculation Agent Adjustment
	 
	 	 
	Tender Offer:

	 	Applicable
	 
	 	 
	Consequences of Tender Offers:

	 	(a) Share-for-Share: Calculation Agent Adjustment
	 
	 	 
	 

	 	(b) Share-for-Other: Calculation Agent Adjustment
	 
	 	 
	 

	 	(c) Share-for-Combined: Calculation Agent Adjustment
	 
	 	 
	Nationalization, Insolvency
	 	 
	or Delisting:

	 	Cancellation and Payment (subject to
satisfaction by delivery of Shares as set
forth in “Early Termination” below). In
addition to the provisions of Section
12.6(a)(iii) of the Equity Definitions, it
will also constitute a Delisting if the
Exchange is located in the United States
and the Shares are not immediately
re-listed, re-traded or re-quoted on any
of the New York Stock Exchange, the
American Stock Exchange or the NASDAQ
National Market System (or their
respective successors, including without
limitation the NASDAQ Global Market and
NASDAQ Global Select Market); if the
Shares are immediately re-listed,
re-traded or re-quoted on any such
exchange or quotation system, such
exchange or quotation system shall
thereafter be deemed to be the Exchange.
	 
	 	 
	Determining Party:

	 	As specified under “Early Termination”
	 
	 	 
	 

	 	For the avoidance of doubt, with respect
to any Extraordinary Events hereunder,
upon the occurrence of Cancellation and
Payment in whole or in part, the parties
agree that, notwithstanding anything to
the contrary in the Equity Definitions,
the provisions set forth in the Early
Termination section below shall apply.
	 
	 	 
	Additional Disruption Events:
	 	 

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	Change in Law:
	 	Applicable
	 
	 	 
	Failure to Deliver:
	 	Not Applicable
	 
	 	 
	Insolvency Filing:
	 	Applicable
	 
	 	 
	Hedging Disruption Event:
	 	Applicable
	 
	 	 
	Increased Cost of Hedging:
	 	Not Applicable
	 
	 	 
	Loss of Stock Borrow:
	 	Applicable
	 
	 	 
	Maximum Stock Loan Rate:
	 	0.75%
	 
	 	 
	Increased Cost of Stock Borrow:
	 	Applicable
	 
	 	 
	Initial Stock Loan Rate:
	 	0.25%
	 
	 	 
	Hedging Party:
	 	Dealer
	 
	 	 
	Determining Party:
	 	As specified under “Early Termination”
	 
	 	 
	Non-Reliance:
	 	Applicable
	 
	 	 
	Agreements and
	 	 
	Acknowledgments Regarding
	 	 
	Hedging Activities:
	 	Applicable
	 
	 	 
	Additional Acknowledgments:
	 	Applicable
	 
	 	 
	Other Provisions:
	 	 
	 
	 	 
	Additional Agreements:
	 	If Counterparty would be obligated (but
for the provisions of this paragraph) to
pay cash to Dealer pursuant to the terms
of this Agreement for any reason, then
such payment obligation shall be satisfied
by the delivery to Dealer of a number of
Shares (whether registered or
unregistered) having a cash value equal to
the amount of such payment obligation
(such number of Shares to be delivered to
be determined by the Calculation Agent to
determine the number of Shares that could
be sold by Dealer over a reasonable period
of time to realize the cash equivalent of
such payment obligation taking into
account any applicable discount
(determined by the Calculation Agent) to
reflect any restrictions on transfer as
well as the market value of the Shares).
Settlement relating to any delivery of
Shares pursuant to this paragraph shall
occur within a reasonable period of time.
The number of Shares delivered pursuant to
this paragraph shall not exceed the
Maximum Deliverable Share Amount and shall
be subject to the provisions under “Early
Termination” hereof regarding Proceeds
Amount.

	 
	 	 
	Early Termination:
	 	Notwithstanding Section 6(e) of the Agreement or Sections 12.7 or 12.8 of the Equity Definitions,
if, with respect to the Transaction contemplated hereunder, (A) an Early Termination Date with respect to any Event of Default or any
Termination Event, (B) a Merger Date with respect to any Merger Event or Tender Offer Date with respect to a Tender Offer, (C) a Closing
Date with respect to an event described in Section 12.6 of the Equity Definitions, or (D) date as of which the Transaction is,
or is deemed to have been, terminated or cancelled as a result of an applicable Additional Disruption Event (any such

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	 	date, the “Relevant Date”) shall occur,
then in lieu of calculating any payments
hereunder pursuant to Section 6(e) of the
Agreement or Sections 12.7 or 12.8 of the
Equity Definitions, as applicable, (if a
calculation under such sections would
otherwise be required), the Calculation
Agent shall determine the number of Shares
deliverable by Counterparty to Dealer on
the following basis:
	 
	 	 
	 

	 	(1) such Relevant Date shall be the sole Exercise Date hereunder and
Automatic Exercise shall be applicable to the unexercised Number of
Warrants (the “Unexpired Number”);
	 
	 	 
	 

	 	(2) the Settlement Method shall be Net Share Settlement;
	 
	 	 
	 

	 	(3) Counterparty shall deliver to Dealer the Net Share Settlement
Amount on the Settlement Date with respect to such Relevant Date
(“Early Termination Stock Settlement”); provided that, if
Counterparty is delivering Shares as a result of a Merger Event, the
Settlement Date for such delivery will be immediately prior to the
effective time of the Merger Event and the Shares will be deemed
delivered at such time such that Dealer will be a holder of the
Shares prior to such effective time;
	 
	 	 
	 

	 	(4) Net Share Settlement Amount shall mean (subject to the Maximum
Deliverable Share Amount) a number of Shares equal to the sum of (A)
the Share Delivery Quantity (as defined herein) and (B) the product
of (x) the additional Shares per Warrant (the “Additional
Shares”) determined by reference to the table attached as Annex A
hereto based on the date on which such Relevant Date occurs and the
VWAP Price on such date, (y) the Unexpired Number, and (z) the
Warrant Entitlement;
	 
	 	 
	 

	 	(5) with respect to the determination of Additional Shares, if the
actual VWAP Price is between two VWAP Price amounts in the table or
the Relevant Date is between two Relevant Dates in the table, the
Additional Shares shall be determined by a straight-line
interpolation between the number of Additional Shares set forth for
the next higher and next lower VWAP Price amounts and the two nearest
Relevant Dates, as applicable, based on a 365-day year; and
	 
	 	 
	 

	 	(6) with respect to any adjustment to the terms of the Transaction,
the Calculation Agent, shall correspondingly adjust the Additional
Shares and/or the VWAP Prices (each as set forth in the table in
Annex A hereto) as of any date of such adjustments; provided, for the
avoidance of doubt, that any such adjustments shall be made
consistently with the applicable provisions of this Confirmation and
the Equity Definitions. For the avoidance of doubt, any calculations
made by the Calculation Agent with respect to this Transaction
pursuant to Section 11.2(c), Section 12.2(d) or Section 12.3(c) of
the Equity Definitions may take into account the Calculation Agent’s
determination of the fair market value of the Shares under the then
prevailing circumstances.
	 
	 	 
	 

	 	On or prior to the Relevant Date, if so requested by Dealer upon advice of counsel,
Counterparty shall enter into a registration rights agreement with Dealer in form and
substance reasonably acceptable to Dealer and Counterparty (which agreement will contain among
other things, reasonable customary representations and warranties and indemnification,
restrictions on sales during “blackout dates”, and provide for delivery of comfort letters,
opinions of counsel, due diligence rights and other customary rights) and Counterparty shall
satisfy the conditions contained therein and Counterparty shall file and use its commercially
reasonable efforts to obtain the effectiveness a Registration Statement pursuant to Rule 415
under the Securities Act. If and when such

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	 	Registration Statement shall have been declared
effective by the Securities and Exchange Commission, Counterparty shall have made available to
Dealer such Prospectuses as Dealer may reasonably request to comply with the applicable
prospectus delivery requirements for the resale by Dealer of such number of Shares as Dealer
shall specify (or, if greater, the number of Shares that Counterparty shall specify). Such
Registration Statement shall be effective and Prospectus shall be current until the earliest
of the date on which (i) all Shares delivered by Counterparty in connection with an Early
Termination Date, (ii) Dealer has advised Counterparty that it no longer requires that such
Registration Statement be effective, (iii) all remaining Shares could be sold by Dealer
without registration pursuant to Rule 144 promulgated under the Securities Act (the
“Termination Registration Period”) or (iv) Counterparty has provided a legal opinion of
nationally recognized counsel in form and substance satisfactory to Dealer (with customary
assumptions and exceptions) that the Shares issuable upon exercise of these Warrants will be
freely tradable under the Securities Act upon delivery to Dealer and not subject to any legend
restricting transferability. It is understood that the Registration Statement and Prospectus
will cover a number of Shares equal to the number of Shares plus the aggregate number of
Shares (if any) reasonably estimated by Dealer to be potentially deliverable by Counterparty
in connection with Early Termination Stock Settlement hereunder, but in no event exceeding the
Maximum Deliverable Share Amount. On each day during the Termination Registration Period
Counterparty shall represent that each of its filings under the Securities Act, the Exchange
Act or other applicable securities laws that are required to be filed have been filed and
that, as of the respective dates thereof and as of the date of this representation, they do
not contain any untrue statement of a material fact or omission of a material fact required to
be stated therein or necessary to make the statements made, in the light of the circumstances
under which they were made, not misleading.
	 
	 	 
	 

	 	If Counterparty does not deliver Shares subject to an effective Registration Statement as set
forth above (or if some or all of the Shares delivered cannot be used to close out stock loans
in the shares of Counterparty entered into to establish or maintain short positions by Dealer
in connection with this Transaction without a prospectus being required by applicable law to
be delivered to such lender), the provisions of sub-paragraphs (B) and (C) set forth above
under “Covenants Relating to Net Physical Settlement” shall apply, mutatis mutandis, as if the
Net Physical Settlement Amount were the Transaction Early Termination Amount. “Transaction
Early Termination Amount” means the Net Share Settlement Amount multiplied by the Settlement
Price. In no event shall Counterparty be required to deliver to Dealer a number of Shares
greater than the Maximum Deliverable Share Amount.
	 
	 	 
	Compliance With Securities Laws:

	 	Counterparty represents and agrees that it has complied, and will comply, in connection with
this Transaction and all related or contemporaneous sales and purchases of Shares, with the
applicable provisions of the Securities Act, the Exchange Act and the rules and regulations
promulgated thereunder, including, without limitation, Rule 10b-5 and 13e and Regulation M
under the Exchange Act.
	 
	 	 
	 

	 	Each party acknowledges that the offer and sale of the Transaction to it is intended to be
exempt from registration under the Securities Act by virtue of Section 4(2) thereof.
Accordingly, each party represents and warrants to the other party that (i) it has the
financial ability to bear the economic risk of entering into the Transaction and is able to
bear a total loss of its investment, (ii) it is an “accredited investor” as that term is
defined in Regulation D as

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	 	promulgated under the Securities Act and (iii) the disposition of
this Transaction and the Shares is restricted under this Confirmation, the Securities Act and
state securities laws.
	 
	 	 
	 

	 	Counterparty further represents and warrants that:
	 
	 	 
	 

	 	(a) Counterparty is not entering into this Transaction to create
actual or apparent trading activity in the Shares (or any security
convertible into or exchangeable for Shares) or to raise or depress
or otherwise manipulate the price of the Shares (or any security
convertible into or exchangeable for Shares);
	 
	 	 
	 

	 	(b) Counterparty represents and acknowledges that as of the date
hereof and without limiting the generality of Section 13.1 of the
Equity Definitions, Dealer is not making any representations or
warranties with respect to the treatment of the Transaction under
FASB Statements 149 or 150, EITF Issue No. 00-19 (or any successor
issue statements) or under FASB’s Liabilities & Equity Project;
	 
	 	 
	 

	 	(c) Counterparty is not, and after giving effect to the Transaction
contemplated hereby, will not be, an “investment company” as such
term is defined in the Investment Company Act of 1940, as amended.
	 
	 	 
	 

	 	(d) As of the Trade Date and each date on which a payment or delivery
is made by Counterparty hereunder, (i) the assets of Counterparty at
their fair valuation exceed the liabilities of Counterparty,
including contingent liabilities; (ii) the capital of Counterparty is
adequate to conduct its business; and (iii) Counterparty has the
ability to pay its debts and other obligations as such obligations
mature and does not intend to, or believe that it will, incur debt or
other obligations beyond its ability to pay as such obligations
mature.
	 
	 	 
	Account Details:

	 	Account for payments to Counterparty:
	 
	 	 
	 

	 	                    PNC Bank, Ohio, N.A.
	 

	 	                    201 East Fifth Street
	 

	 	                    Cincinnati, Ohio 45201
	 

	 	                    ABA Number: 042000398
	 

	 	                    Account Name: General Cable Corporation
	 

	 	                    Account Number: 4074093412
	 

	 	                    SWIFT: PNCCUS33
	 
	 	 
	 

	 	Account for delivery of Shares to Counterparty: [To be advised]
	 
	 	 
	 

	 	Account for payments to Dealer: [To be advised]
	 
	 	 
	 

	 	Account for delivery of Shares to Dealer: [To be advised]
	 
	 	 
	Agreement Regarding Shares:

	 	Counterparty agrees that, in respect of any Shares delivered to Dealer, such Shares shall be, upon
such delivery, duly and validly authorized, issued and outstanding, fully paid and non-assessable
and subject to no adverse claims of any other party. The issuance of such Shares does not and will
not require the consent, approval, authorization, registration or qualification of any government
authority, except such as shall have been obtained on or before the delivery date of any Shares or
as may be required in connection with any Registration Statement relating to any Shares.
	 
	 	 
	Bankruptcy Rights:

	 	In the event of Counterparty’s bankruptcy, Dealer’s rights in connection with this Transaction
shall not exceed those rights held by common shareholders.

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	 	For the avoidance of doubt, the parties
acknowledge and agree that Dealer’s rights with respect to any other claim arising from this
Transaction prior to Counterparty’s bankruptcy shall remain in full force and effect and shall not
be otherwise abridged or modified in connection herewith.
	 
	 	 
	Set-Off:

	 	Each party waives any and all rights it may have to set-off, whether arising under any agreement,
applicable law or otherwise.
	 
	 	 
	Transfer:

	 	Neither party may transfer its rights and delegate its obligations under this Transaction without
the prior written consent of the other party, which shall not be unreasonably withheld. Either
party may assign its rights and delegate its obligations hereunder, in whole or in part, to any
other person (an “Assignee”) with the prior consent of the other party, effective (the “Transfer
Effective Date”) upon delivery to such party of an executed acceptance and assumption by the
Assignee (an “Assumption”) of the transferred obligations of the assigning party under this
Transaction (the “Transferred Obligations”). Notwithstanding any other provision in this
Confirmation to the contrary requiring or allowing Dealer to purchase, sell, receive or deliver any
Shares or other securities to or from Counterparty, Dealer may designate any of its affiliates to
purchase, sell, receive or deliver such Shares or other securities and otherwise to perform
Dealer’s obligations in respect of this Transaction and any such designee may assume such
obligations. Dealer shall be discharged of its obligations to Counterparty to the extent of any
such performance.
	 
	 	 
	Indemnity:

	 	Each party (the “Indemnifying Party”) agrees to indemnify the other party, its Affiliates and their
respective directors, officers, agents and controlling parties (each such person being an
“Indemnified Party”) from and against any and all losses, claims, damages and liabilities, joint
and several, to which such Indemnified Party may become subject because of a breach of any
representation or covenant hereunder, in the Agreement or any other agreement relating to the
Agreement or Transaction and will reimburse Indemnified Party for all reasonable expenses
(including reasonable legal fees and expenses) as they are incurred in connection with the
investigation of, preparation for, or defense of, any pending or threatened claim or any action or
proceeding arising therefrom, whether or not such Indemnified Party is a party thereto. The
Indemnifying Party will not be liable under the foregoing Indemnity provision to the extent that
any loss, claim, damage, liability or expense is found in a final judgment by a court to have
resulted from an Indemnified Party’s gross negligence or willful misconduct.

Additional Agreements, Representations and Covenants of Counterparty, Etc.:

	(a)	 	Counterparty hereby represents and warrants to Dealer, on each day from the Trade Date to and
including the earlier of (i) December 15, 2006, and (ii) the date by which Dealer is able to
initially complete a hedge of its position created by this Transaction, that:

	 	(1)	 	it will not, and will not permit any person or entity subject to its control
to, bid for or purchase Shares during such period except pursuant to transactions or
arrangements which have been approved by Dealer or an affiliate of Dealer; and
	 
	 	(2)	 	it has publicly disclosed all material information necessary for it to be able
to purchase or sell Shares in compliance with applicable federal securities laws and
that it has publicly disclosed all material information with respect to its condition
(financial or otherwise).

	(b)	 	No collateral shall be required by either party for any reason in connection with this
Transaction.

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	(c)	 	Dealer shall not be entitled to exercise any Warrant or take delivery of any Shares
deliverable hereunder, and Automatic Exercise shall not apply with respect to any Warrant, to
the extent (but only to the extent) that the receipt of any Shares upon the exercise of such
Warrant or otherwise hereunder would result in Dealer, or its ultimate parent entity becoming,
directly or indirectly, the beneficial owner (as such term is defined for purposes of Section
13(d) of the Exchange Act) at any time of more than 8.0 percent of the class of the
Counterparty’s outstanding equity securities that is comprised of the Shares (an “Excess
Share Owner”).
	 
	 	 	Dealer shall provide prior notice to Counterparty if the exercise of any Warrant or delivery
of Shares hereunder would cause Dealer to become, directly or indirectly, an Excess Share
Owner; provided that the failure of Dealer to provide such notice shall not alter
the effectiveness of the provisions set forth in the preceding sentence and any purported
exercise or delivery in violation of such provisions shall be void and have no effect. If
any delivery owed to Dealer hereunder is not made, in whole or in part, as a result of this
provision, Counterparty’s obligation to make such delivery shall not be extinguished and
Counterparty shall make such delivery as promptly as practicable after Dealer gives notice
that such delivery would not result in Dealer being an Excess Share Owner; provided that any
such notice must be delivered by Dealer no later than June 5, 2014.
	 
	 	 	If Dealer is not entitled to exercise any Warrant because such exercise would cause Dealer
to become, directly or indirectly, an Excess Share Owner and Dealer thereafter disposes of
Shares owned by it or any action is taken that would then permit Dealer to exercise such
Warrant without such exercise causing it to become, directly or indirectly, an Excess Share
Owner, then Dealer shall provide notice of the taking of such action to Counterparty and
such Warrant shall then become exercisable by Dealer to the extent such Warrant is otherwise
or had otherwise become exercisable hereunder; provided that any such notice must be
delivered by Dealer no later than June 5, 2014. In such event, the Expiration Date with
respect to such Warrant shall be the date on which Counterparty receives such notice from
Dealer, and the related Settlement Date shall be as soon as reasonably practicable after
receipt of such notice but no more than three (3) Exchange Business Days thereafter (but in
no event shall the Settlement Date occur prior to the date on which it would have otherwise
occurred but for the provisions of this subsection); provided that the related Net
Physical Settlement Amount shall be the same as the Net Physical Settlement Amount but for
the provisions of this subsection. In addition, within 30 calendar days of a Settlement
Date, Counterparty shall use its reasonable efforts to refrain from activities that could
reasonably be expected to result in Dealer’s ownership of Shares exceeding 10% of all issued
and outstanding Shares.

Matters Relating to Agent:

	(a)	 	Role of Agent. Credit Suisse, New York branch, in its capacity as Agent will be responsible
for (A) effecting this Transaction, (B) issuing all required confirmations and statements to
Dealer and Counterparty, (C) maintaining books and records relating to this Transaction in
accordance with its standard practices and procedures and in accordance with applicable law
and (D) unless otherwise requested by Counterparty, receiving, delivering, and safeguarding
Counterparty’s funds and any securities in connection with this Transaction, in accordance
with its standard practices and procedures and in accordance with applicable law.

	 	(i)	 	Agent is acting in connection with this Transaction solely in its capacity as
Agent for Dealer and Counterparty pursuant to instructions from Dealer and
Counterparty. Agent shall have no responsibility or personal liability to Dealer or
Counterparty arising from any failure by Dealer or Counterparty to pay or perform any
obligations hereunder, or to monitor or enforce compliance by Dealer or Counterparty
with any obligation hereunder, including, without limitation, any obligations to
maintain collateral. Each of Dealer and Counterparty agrees to proceed solely against
the other to collect or recover any securities or monies owing to it in connection with
or as a result of this Transaction. Agent shall otherwise have no liability in respect
of this Transaction, except for its gross negligence or willful misconduct in
performing its duties as Agent.
	 
	 	(ii)	 	Any and all notices, demands, or communications of any kind relating to this
Transaction between Dealer and Counterparty shall be transmitted exclusively through
Agent at the following address:

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	 	 	 	Credit Suisse, New York branch

Eleven Madison Avenue

New York, NY 10010-3629
	 
	 	 	 	For payments and deliveries:

Facsimile No.: (212) 325 8175

Telephone No.: (212) 325 8678 / (212) 325 3213
	 
	 	 	 	For all other communications:

Facsimile No.: (212) 325 8173

Telephone No.: (212) 325 8676 / (212) 538 5306 / (212) 538 1193 / (212) 538 6886

	 	(iii)	 	The date and time of the Transaction evidenced hereby will be furnished by the
Agent to Dealer and Counterparty upon written request.
	 
	 	(iv)	 	The Agent will furnish to Counterparty upon written request a statement as to
the source and amount of any remuneration received or to be received by the Agent in
connection with the Transaction evidenced hereby.
	 
	 	(v)	 	Dealer and Counterparty each represents and agrees (A) that this Transaction is
not unsuitable for it in the light of such party’s financial situation, investment
objectives and needs and (B) that it is entering into this Transaction in reliance upon
such tax, accounting, regulatory, legal and financial advice as it deems necessary and
not upon any view expressed by the other or the Agent.
	 
	 	(vi)	 	Dealer is regulated by The Securities and Futures Authority and has entered
into this Transaction as principal. The time at which this Transaction was executed
will be notified to Counterparty (through the Agent) on request.

ISDA Master Agreement:

With respect to the Agreement, Dealer and Counterparty each agree as follows:

“Specified Entity” means in relation to Seller and in relation to Counterparty for purposes of this
Transaction: Not applicable.

Notwithstanding the definition in Section 14 of the Agreement, “Specified Transaction” shall mean
only the OTC Warrant Transaction pursuant to the Confirmation between Counterparty and Dealer dated
as of November 9, 2006.

The “Cross Default” provisions of Section 5(a)(vi) of the Agreement shall not apply to Dealer or
Counterparty.

The “Credit Event Upon Merger” provisions of Section 5(b)(iv) of the Agreement will not
apply to Dealer and Counterparty.

The “Automatic Early Termination” provision of Section 6(a) of the Agreement will not apply
to Dealer or to Counterparty.

Payments on Early Termination. For the purpose of Section 6(e) of the Agreement: (i) Loss
shall apply; and (ii) the Second Method shall apply.

“Termination Currency” means USD.

Tax Representations.

	(I)	 	Payer Representations. For the purpose of Section 3(e) of the Agreement, each party
represents to the other party that it is not required by any applicable law, as modified by
the practice of any relevant governmental revenue authority, of any Relevant Jurisdiction to
make any deduction or withholding for or on account of any Tax from any payment (other than
interest under Section 2(e), 6(d)(ii), or 6(e) of the

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	 	 	Agreement) to be made by it to the other
party under the Agreement. In making this representation, each party may rely on (i) the
accuracy of any representations made by the other party pursuant to Section 3(f) of the
Agreement, (ii) the satisfaction of the agreement contained in Section 4(a)(i) or 4(a)(iii) of
the Agreement, and the accuracy and effectiveness of any document provided by the other party
pursuant to Section 4(a)(i) or 4(a)(iii) of the Agreement, and (iii) the satisfaction of the
agreement of the other party contained in Section 4(d) of the Agreement; provided that
it will not be a breach of this representation where reliance is placed on clause (ii) above
and the other party does not deliver a form or document under Section 4(a)(iii) of the
Agreement by reason of material prejudice to its legal or commercial position.
	 
	(II)	 	Payee Representations. For the purpose of Section 3(f) of the Agreement, each party makes
the following representations to the other party:

	 	(i)	 	Dealer represents that it is a corporation organized under the laws of England
and Wales.
	 
	 	(ii)	 	Counterparty represents that it is a corporation incorporated in Delaware.

Delivery Requirements. For the purpose of Sections 4(a)(i) and (ii) of the
Agreement, each party agrees to deliver the following documents:

	(a)	 	Tax forms, documents or certificates to be delivered are:
	 
	 	 	Each party agrees to complete (accurately and in a manner reasonably satisfactory to the
other party), execute, and deliver to the other party, United States Internal Revenue
Service Form W-9 or W-8 BEN, or any successor of such form(s): (i) before the first payment
date under this agreement; (ii) promptly upon reasonable demand by the other party; and
(iii) promptly upon learning that any such form(s) previously provided by the other party
has become obsolete or incorrect.
	 
	(b)	 	Other documents to be delivered:

	 	 	 	 	 	 	 
	 	 	 	 	 	 	Covered by
	Party Required to	 	 	 	 	 	Section 3(d)
	Deliver Document	 	Document Required to be Delivered	 	When Required	 	Representation
	Counterparty and
Dealer

	 	Evidence of the authority and
true signatures of each official
or representative signing this
Confirmation
	 	Upon or before the
scheduled Effective
Date
	 	Yes
	 
	 	 	 	 	 	 
	Counterparty

	 	Certified copy of the resolution
of the Board of Directors or
equivalent document authorizing
the execution and delivery of
this Confirmation and such other
certificate or certificates as
Dealer shall reasonably request
	 	Upon or before the
scheduled Effective
Date
	 	Yes

Addresses for Notices: For the purpose of Section 12(a) of the Agreement:

Address for notices or communications to Dealer for all purposes:

	 	 	 	 	 
	 

	 	Address:
	 	Credit Suisse, New York branch
	 

	 	 	 	Eleven Madison Avenue
	 

	 	 	 	New York, NY 10010-3629
	 

	 	Telephone No.:
	 	(212) 325 8676 / (212) 538 5306 / (212) 538 1193 / (212) 538 6886
	 

	 	Facsimile No.:
	 	(212) 325 8173

Address for notices or communications to Counterparty for all purposes:

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	 	Address:
	 	General Cable Corporation
	 

	 	 	 	4 Tesseneer Drive
	 

	 	 	 	Highland Heights, KY 41076-9753
	 

	 	Attention:
	 	Brian J. Robinson 

Senior Vice President, Controller and Treasurer
	 

	 	Telephone No.:
	 	(859) 572-8483
	 

	 	Facsimile No.:
	 	(859) 572-8441
	 
	 	 	 	 
	 

	 	Address:
	 	General Cable Corporation
	 

	 	 	 	4 Tesseneer Drive
	 

	 	 	 	Highland Heights, KY 41076-9753
	 

	 	Attention:
	 	Robert J. Siverd
	 

	 	 	 	Executive Vice President, General Counsel and Secretary
	 

	 	Telephone No.:
	 	(859) 572-8890
	 

	 	Facsimile No.:
	 	(859) 572-8444

Process Agent: Dealer does not appoint a Process Agent.

Counterparty does not appoint a Process Agent.

Multibranch Party. For the purpose of Section 10(c) of the Agreement: Neither Dealer nor
Counterparty is a Multibranch Party.

Offices. The office of the Dealer for Transactions hereunder is

Credit Suisse International

One Cabot Square

London E14 4QJ

England

Calculation Agent. The Calculation Agent is Dealer. Upon the request of either party, the
Calculation Agent (or, in the case of a determination made by a party (including a party acting as
Determining Party or Hedging Party), such party) shall, no later than the 5th Business
Day following such request, provide the parties with a statement showing, in reasonable detail, the
computations (including any relevant quotations) by which it has determined any amount payable or
deliverable under, or any adjustment to the terms of, this Transaction. All judgments,
determinations and calculations hereunder by the Calculation Agent or by a party hereto shall be
performed in good faith and in a commercially reasonable manner.

Credit Support Document.

Dealer: Not Applicable.

Counterparty: Not Applicable.

Credit Support Provider.

With respect to Dealer: Not Applicable.

With respect to Counterparty: Not Applicable.

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Governing Law. This Confirmation will be governed by, and construed in accordance with, the laws
of the State of New York.

Waiver of Jury Trial. Each party waives, to the fullest extent permitted by applicable law, any
right it may have to a trial by jury in respect of any suit, action or proceeding relating to this
Transaction. Each party (i) certifies that no representative, agent or attorney of the other party
has represented, expressly or otherwise, that such other party would not, in the event of such a
suit, action or proceeding, seek to enforce the foregoing waiver and (ii) acknowledges that it and
the other party have been induced to enter into this Transaction, as applicable, by, among other
things, the mutual waivers and certifications provided herein.

Netting of Payments. The provisions of Section 2(c) of the Agreement shall not be
applicable to this Transaction.

Basic Representations. Section 3(a) of the Agreement is hereby amended by the deletion of
“and” at the end of Section 3(a)(iv); the substitution of a semicolon for the period at the
end of Section 3(a)(v) and the addition of Sections 3(a)(vi), as follows:

	 	 	Eligible Contract Participant; Line of Business. Each party agrees and represents
that it is an “eligible contract participant” as defined in Section 1a(12) of the
U.S. Commodity Exchange Act, as amended (“CEA”), this Agreement and the
Transaction thereunder are subject to individual negotiation by the parties and have
not been executed or traded on a “trading facility” as defined in Section 1a(33) of
the CEA, and it has entered into this Confirmation and this Transaction in
connection with its business or a line of business (including financial
intermediation), or the financing of its business.	 

Acknowledgements:

	(a)	 	The parties acknowledge and agree that there are no other representations, agreements or other
undertakings of the parties in relation to this Transaction, except as set forth in this
Confirmation.
	 
	(b)	 	The parties hereto intend for:

	 	(i)	 	this Transaction to be a “securities contract” as defined in Section 741(7) of
Title 11 of the United States Code (the “Bankruptcy Code”), qualifying for the
protections under Section 555 of the Bankruptcy Code;
	 
	 	(ii)	 	a party’s right to liquidate this Transaction and to exercise any other
remedies upon the occurrence of any Event of Default under the Agreement with respect
to the other party to constitute a “contractual right” as defined in the Bankruptcy
Code;
	 
	 	(iii)	 	all payments for, under or in connection with this Transaction, all payments
for the Shares and the transfer of such Shares to constitute “settlement payments” as
defined in the Bankruptcy Code.

Amendment of Section 6(d)(ii). Section 6(d)(ii) of the Agreement is modified by
deleting the words “on the day” in the second line thereof and substituting therefor “on the day
that is three Local Business Days after the day”. Section 6(d)(ii) is further modified by
deleting the words “two Local Business Days” in the fourth line thereof and substituting therefor
“three Local Business Days.”

Amendment of Definition of Reference Market-Makers. The definition of “Reference Market-Makers” in
Section 14 is hereby amended by adding in clause (a) after the word “credit” and before the
word “and” the words “or to enter into transactions similar in nature to the Transactions.”

Consent to Recording. Each party consents to the recording of the telephone conversations of
trading and marketing personnel of the parties and their Affiliates in connection with this
Confirmation. To the extent that one party records telephone conversations (the “Recording Party”)
and the other party does not (the “Non-Recording Party”), the Recording Party shall in the event of
any dispute, make a complete and unedited copy of such party’s

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tape of the entire day’s
conversations with the Non-Recording Party’s personnel available to the Non-Recording Party. The
Recording Party’s tapes may be used by either party in any forum in which a dispute is sought to be
resolved and the Recording Party will retain tapes for a consistent period of time in accordance
with the Recording Party’s policy unless one party notifies the other that a particular transaction
is under review and warrants further retention.

Disclosure. Each party hereby acknowledges and agrees that Dealer has authorized Counterparty to
disclose this Transaction and any related hedging transaction between the parties if and to the
extent that Counterparty reasonably determines (after consultation with Dealer) that such
disclosure is required by law or by the rules of the New York Stock Exchange or any securities
exchange.

Severability. If any term, provision, covenant or condition of this Confirmation, or the
application thereof to any party or circumstance, shall be held to be invalid or unenforceable in
whole or in part for any reason, the remaining terms, provisions, covenants, and conditions hereof
shall continue in full force and effect as if this Confirmation had been executed with the invalid
or unenforceable provision eliminated, so long as this Confirmation as so modified continues to
express, without material change, the original intentions of the parties as to the subject matter
of this Confirmation and the deletion of such portion of this Confirmation will not substantially
impair the respective benefits or expectations of parties to this Agreement; provided,
however, that this severability provision shall not be applicable if any provision of
Section 2, 5, 6 or 13 of the Agreement (or any definition or
provision in Section 14 to the extent that it relates to, or is used in or in connection
with any such Section) shall be so held to be invalid or unenforceable.

Affected Parties. For purposes of Section 6(e) of the Agreement, each party shall be
deemed to be an Affected Party in connection with Illegality and any Tax Event.

[Signatures follow on separate page]

18

 

     Counterparty hereby agrees (a) to check this Confirmation carefully and immediately
upon receipt so that errors or discrepancies can be promptly identified and rectified and (b) to
confirm that the foregoing (in the exact form provided by Dealer) correctly sets forth the terms of
the agreement between Dealer and Counterparty with respect to the Transaction, by manually signing
this Confirmation or this page hereof as evidence of agreement to such terms and providing the
other information requested herein and immediately returning an executed copy to Credit Suisse, New
York branch, Eleven Madison Avenue, New York, NY 10010-3629, Facsimile No. (212) 325-8173.

	 	 	 	 	 
	 	 	Yours faithfully,
	 
	 	 	 	 
	 	 	CREDIT SUISSE INTERNATIONAL
	 

	 	By Its agent:
	 	CREDIT SUISSE SECURITIES (USA)
	 

	 	 	 	LLC

	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Melissa Garcia
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Melissa Garcia
	 

	 	 	 	Title:
	 	Assistant Vice President

Complex Product Support
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Antony Fisher
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Antony Fisher
	 

	 	 	 	Title:
	 	Vice President

Complex Product Support
	 
	 	 	 	 	 	 
	 	 	CREDIT SUISSE, NEW YORK BRANCH,

     AS AGENT FOR CREDIT SUISSE INTERNATIONAL
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Antony Fisher
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Antony Fisher
	 

	 	 	 	Title:
	 	Vice President

Complex Product Support
	 
	 	 	By:	 	/s/ Melissa Garcia
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Melissa Garcia
	 

	 	 	 	Title:
	 	Assistant Vice President

Complex Product Support

	 	 	 	 	 	 	 
	Agreed and Accepted By:	 	 
	 
	 	 	 	 	 	 
	GENERAL CABLE CORPORATION	 	 
	 
	 	 	 	 	 	 
	By:	 	/s/ Robert J. Siverd	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Robert J. Siverd	 	 
	 

	 	Title:
	 	Executive Vice President, General Counsel

and Secretary	 	 

Additional OTC Warrant Confirmation

 

     

Annex A

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Relevant Date
	VWAP	 	15-Nov-	 	15-May-	 	15-Nov-	 	15-May-	 	15-Nov-	 	15-May-	 	15-Nov-	 	15-May-	 	15-Nov-	 	15-May-	 	15-Nov-	 	15-May-	 	15-Nov-	 	15-May-	 	15-Nov-
	Price	 	06	 	07	 	07	 	08	 	08	 	09	 	09	 	10	 	10	 	11	 	11	 	12	 	12	 	13	 	13
	$  39.50
	 	 	0.393	 	 	 	0.466	 	 	 	0.437	 	 	 	0.408	 	 	 	0.377	 	 	 	0.345	 	 	 	0.311	 	 	 	0.275	 	 	 	0.216	 	 	 	0.179	 	 	 	0.134	 	 	 	0.088	 	 	 	0.044	 	 	 	0.008	 	 	 	0.000	 
	$  40.00
	 	 	0.397	 	 	 	0.469	 	 	 	0.440	 	 	 	0.411	 	 	 	0.381	 	 	 	0.349	 	 	 	0.315	 	 	 	0.278	 	 	 	0.220	 	 	 	0.183	 	 	 	0.138	 	 	 	0.091	 	 	 	0.045	 	 	 	0.009	 	 	 	0.000	 
	$  45.00
	 	 	0.434	 	 	 	0.501	 	 	 	0.473	 	 	 	0.445	 	 	 	0.415	 	 	 	0.383	 	 	 	0.350	 	 	 	0.314	 	 	 	0.255	 	 	 	0.217	 	 	 	0.170	 	 	 	0.119	 	 	 	0.067	 	 	 	0.018	 	 	 	0.000	 
	$  50.00
	 	 	0.468	 	 	 	0.529	 	 	 	0.502	 	 	 	0.475	 	 	 	0.446	 	 	 	0.415	 	 	 	0.382	 	 	 	0.346	 	 	 	0.288	 	 	 	0.249	 	 	 	0.201	 	 	 	0.148	 	 	 	0.091	 	 	 	0.032	 	 	 	0.000	 
	$  55.00
	 	 	0.498	 	 	 	0.554	 	 	 	0.528	 	 	 	0.501	 	 	 	0.474	 	 	 	0.444	 	 	 	0.412	 	 	 	0.377	 	 	 	0.319	 	 	 	0.281	 	 	 	0.232	 	 	 	0.178	 	 	 	0.118	 	 	 	0.050	 	 	 	0.001	 
	$  60.00
	 	 	0.525	 	 	 	0.576	 	 	 	0.551	 	 	 	0.526	 	 	 	0.499	 	 	 	0.470	 	 	 	0.439	 	 	 	0.405	 	 	 	0.348	 	 	 	0.310	 	 	 	0.263	 	 	 	0.208	 	 	 	0.146	 	 	 	0.073	 	 	 	0.004	 
	$  65.00
	 	 	0.550	 	 	 	0.596	 	 	 	0.573	 	 	 	0.548	 	 	 	0.522	 	 	 	0.494	 	 	 	0.464	 	 	 	0.431	 	 	 	0.376	 	 	 	0.339	 	 	 	0.292	 	 	 	0.237	 	 	 	0.175	 	 	 	0.098	 	 	 	0.012	 
	$  70.00
	 	 	0.572	 	 	 	0.615	 	 	 	0.592	 	 	 	0.568	 	 	 	0.543	 	 	 	0.516	 	 	 	0.487	 	 	 	0.455	 	 	 	0.402	 	 	 	0.365	 	 	 	0.319	 	 	 	0.266	 	 	 	0.204	 	 	 	0.127	 	 	 	0.029	 
	$  75.00
	 	 	0.593	 	 	 	0.632	 	 	 	0.610	 	 	 	0.587	 	 	 	0.563	 	 	 	0.536	 	 	 	0.508	 	 	 	0.477	 	 	 	0.426	 	 	 	0.390	 	 	 	0.346	 	 	 	0.294	 	 	 	0.233	 	 	 	0.156	 	 	 	0.055	 
	$  80.00
	 	 	0.562	 	 	 	0.597	 	 	 	0.576	 	 	 	0.554	 	 	 	0.531	 	 	 	0.505	 	 	 	0.478	 	 	 	0.448	 	 	 	0.398	 	 	 	0.364	 	 	 	0.321	 	 	 	0.270	 	 	 	0.212	 	 	 	0.137	 	 	 	0.039	 
	$  85.00
	 	 	0.523	 	 	 	0.556	 	 	 	0.535	 	 	 	0.514	 	 	 	0.491	 	 	 	0.467	 	 	 	0.441	 	 	 	0.412	 	 	 	0.363	 	 	 	0.330	 	 	 	0.288	 	 	 	0.240	 	 	 	0.183	 	 	 	0.112	 	 	 	0.023	 
	$  90.00
	 	 	0.489	 	 	 	0.519	 	 	 	0.499	 	 	 	0.479	 	 	 	0.457	 	 	 	0.433	 	 	 	0.408	 	 	 	0.380	 	 	 	0.334	 	 	 	0.301	 	 	 	0.261	 	 	 	0.214	 	 	 	0.160	 	 	 	0.093	 	 	 	0.014	 
	$100.00
	 	 	0.433	 	 	 	0.458	 	 	 	0.440	 	 	 	0.421	 	 	 	0.400	 	 	 	0.378	 	 	 	0.355	 	 	 	0.329	 	 	 	0.285	 	 	 	0.255	 	 	 	0.218	 	 	 	0.175	 	 	 	0.126	 	 	 	0.066	 	 	 	0.008	 
	$110.00
	 	 	0.388	 	 	 	0.409	 	 	 	0.392	 	 	 	0.374	 	 	 	0.355	 	 	 	0.335	 	 	 	0.313	 	 	 	0.288	 	 	 	0.248	 	 	 	0.220	 	 	 	0.185	 	 	 	0.146	 	 	 	0.102	 	 	 	0.050	 	 	 	0.006	 
	$120.00
	 	 	0.352	 	 	 	0.370	 	 	 	0.353	 	 	 	0.337	 	 	 	0.319	 	 	 	0.300	 	 	 	0.279	 	 	 	0.256	 	 	 	0.219	 	 	 	0.192	 	 	 	0.161	 	 	 	0.125	 	 	 	0.085	 	 	 	0.040	 	 	 	0.005	 
	$130.00
	 	 	0.321	 	 	 	0.337	 	 	 	0.321	 	 	 	0.306	 	 	 	0.289	 	 	 	0.271	 	 	 	0.251	 	 	 	0.230	 	 	 	0.195	 	 	 	0.171	 	 	 	0.141	 	 	 	0.108	 	 	 	0.073	 	 	 	0.034	 	 	 	0.005	 
	$140.00
	 	 	0.296	 	 	 	0.309	 	 	 	0.295	 	 	 	0.280	 	 	 	0.264	 	 	 	0.247	 	 	 	0.229	 	 	 	0.209	 	 	 	0.176	 	 	 	0.153	 	 	 	0.126	 	 	 	0.096	 	 	 	0.063	 	 	 	0.030	 	 	 	0.005	 
	$150.00
	 	 	0.274	 	 	 	0.285	 	 	 	0.272	 	 	 	0.258	 	 	 	0.243	 	 	 	0.227	 	 	 	0.209	 	 	 	0.191	 	 	 	0.160	 	 	 	0.138	 	 	 	0.113	 	 	 	0.086	 	 	 	0.056	 	 	 	0.027	 	 	 	0.004	 

2EX-10.12

 

Exhibit 10.12

Execution Copy

Confirmation of Additional OTC Warrant Transaction

	 	 	 
	Date:

	 	November 15, 2006

	To:

	 	General Cable Corporation (“Counterparty”)

	From:

	 	WACHOVIA CAPITAL MARKETS, LLC (“Agent”)
	 

	 	Solely as agent of Wachovia Bank, National Association (“Wachovia”)

Wachovia Reference Numbers:

Dear Sir / Madam:

     The purpose of this letter agreement (this “Confirmation”) is to confirm the terms and
conditions of the Transaction entered into between Wachovia Bank, National Association
(“Wachovia”) and General Cable Corporation (“Counterparty”, and collectively with
Wachovia, the “Parties”) on the Trade Date as specified below (the “Transaction”).
This Confirmation constitutes a “Confirmation” as referred to in the Master Agreement specified
below.

     The definitions and provisions contained in the 2000 ISDA Definitions (the “Swap
Definitions”) and the 2002 ISDA Equity Derivatives Definitions (the “Equity
Definitions” and, together with the Swap Definitions, the “Definitions”), in each case
as published by the International Swaps and Derivatives Association, Inc., are incorporated into
this Confirmation. In the event of any inconsistency between the Swap Definitions and the Equity
Definitions, the Equity Definitions will govern, and in the event of any inconsistency between the
Definitions and this Confirmation, this Confirmation will govern. References herein to a
“Transaction” shall be deemed to be references to a “Share Option Transaction” for the purposes of
the Equity Definitions and to a “Swap Transaction” for the purposes of the Swap Definitions. For
purposes of this Transaction, “Warrant Style”, “Warrant Type”, “Number of Warrants” and “Warrant
Entitlement” (each as defined below) shall be used herein as if such terms were referred to as
“Option Style”, “Option Type”, “Number of Options” and “Option Entitlement”, respectively, in the
Definitions.

     This Confirmation evidences a complete binding agreement between you and us as to the terms of
the Transaction to which this Confirmation relates. This Confirmation (notwithstanding anything to
the contrary herein), shall be subject to, and form part of, an agreement in the 1992 form of the
ISDA Master Agreement (Multicurrency Cross Border) (the “Master Agreement” or
“Agreement”) as if we had executed an agreement in such form (but without any Schedule and
with elections specified in the “ISDA Master Agreement” Section of this Confirmation) on the Trade
Date. In the event of any inconsistency between the provisions of that Agreement and this
Confirmation, this Confirmation will prevail for the purpose of this Transaction. The parties
hereby agree that the Transaction evidenced by this Confirmation shall be the only Transaction
subject to and governed by the Agreement.

     The terms of the particular Transaction to which this Confirmation relates are as follows:

General Terms:

	 	 	 	 	 
	Trade Date:
	 	November 15, 2006
	 
	 	 	 	 
	Effective Date:
	 	November 15, 2006 (the “scheduled Effective Date”) subject to cancellation of the
 OTC Warrant Transaction prior to 5:00 p.m. (New York City time) on such date by the Counterparty or Wachovia.  In the event of such
cancellation, all payments, if any, previously made hereunder shall be returned to the person

1

 

Execution Copy

	 	 	 	 	 
	 

	 	making such payment, including the
Premium, and, in the event of a cancellation by Counterparty or a cancellation by Wachovia for the reason that, due to events
occurring after the time of execution of this Confirmation, it has become commercially impracticable for Wachovia to perform its
obligations under the Transaction, Counterparty shall pay Wachovia an amount equal to the product of (a) the Number of Warrants and
(b) 0.30 multiplied by an amount equal to the excess, if any, of the closing price of the Shares on the Effective Date over the
closing price of the Shares on the Trade Date (the “Break
Expense”); provided that in no event shall the Break Expense exceed the
product of 60% times U.S.$7,000,000. Wachovia and Counterparty agree that actual damages would be difficult to ascertain under
these circumstances and that the amount of liquidated damages resulting from the determination in the preceding sentence is a good
faith estimate of such damages and not a penalty. Failure by a party to deliver the documents specified to be delivered by it in
paragraph (b) under “Delivery Requirements” below at or prior to 5:00 p.m. (New York City time) on the scheduled Effective Date
shall (unless waived by the other party) be deemed to be a cancellation by the party failing to deliver.

	 
	 	 	 	 
	Warrant Style:

	 	European

	 
	 	 	 	 
	Warrant Type:

	 	Call

	 
	 	 	 	 
	Seller:

	 	Counterparty

	 
	 	 	 	 
	Buyer:

	 	Wachovia

	 
	 	 	 	 
	Shares:

	 	Shares of common stock, $0.01 par value, of Counterparty (Security Symbol: “BGC”).

	 
	 	 	 	 
	Number of Warrants:

	 	476,544
	 
	 	 	 	 
	Daily Number of Warrants:

	 	For any day, the unexercised Number of Warrants on such day divided by the
remaining number of Expiration Dates (including such day) and rounded down to the nearest whole number, with the balance of the
Number of Warrants exercised on the final Expiration Date.

	 
	 	 	 	 
	Warrant Entitlement:

	 	One (1) Share per Warrant

	 
	 	 	 	 
	Strike Price:

	 	$ 76.00
	 
	 	 	 	 
	Premium:

	 	$ 5,433,600
	 
	 	 	 	 
	Premium Payment Date:

	 	The Effective Date; provided no cancellation of the OTC Warrant Transaction
has occurred prior to 5:00 p.m. (New York City time) on such date.

	 
	 	 	 	 
	Exchange:

	 	New York Stock Exchange

	 
	 	 	 	 
	Related Exchange(s):

	 	All Exchanges

	 
	 	 	 	 
	Full Exchange Business Day:

	 	A Scheduled Trading Day that has a scheduled closing time for its
regular trading session at 4:00 p.m. (New York City time) or the then standard closing time for regular trading on the Exchange and
is not a Disrupted Day.

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	Procedures for Exercise:
	 	 
	 
	 	 
	Expiration Time:

	 	11:59 p.m. (New York City time).
	 
	 	 
	Expiration Dates:

	 	The fifteen (15) consecutive Full Exchange Business Days beginning on and
including February 13, 2014 each shall be an Expiration Date for a number of Warrants equal to the Daily Number of Warrants on such
date.
	 
	 	 
	Exercise Dates:

	 	Each Expiration Date 
	 
	Automatic Exercise:

	 	
Applicable; provided that Section 3.4(a) of the Equity Definitions shall apply
to Net Physical Settlement; and provided further that, unless all Warrants have been previously exercised hereunder, a number of
Warrants for each Expiration Date equal to the Daily Number of Warrants for such Expiration Date shall be deemed to be automatically
exercised.
	 
	 	 
	Counterparty’s Telephone
	 	 
	Number and Telex and/or
	 	 
	Facsimile Number and
	 	 
	Contact Details for purpose
	 	 
	of Giving Notice:

	 	General Cable Corporation
	 

	 	4 Tesseneer Drive
	 

	 	Highland Heights, KY 41076-9753
	 

	 	Attention: Brian J. Robinson
	 

	 	Senior Vice President, Controller and Treasurer
	 

	 	Facsimile No.: (859) 572-8441
	 

	 	Telephone No.: (859) 572-8483
	 
	 	 
	 

	 	General Cable Corporation
	 

	 	4 Tesseneer Drive
	 

	 	Highland Heights, KY 41076-9753
	 

	 	Attention: Robert J. Siverd
	 

	 	Executive Vice President, General Counsel and Secretary
	 

	 	Telephone No.: (859) 572-8890
	 

	 	Facsimile No.: (859) 572-8444
	 
	 	 
	Valuation:
	 	 
	 
	 	 
	Valuation Dates:

	 	Each Exercise Date
	 
	 	 
	Settlement Terms:
	 	 
	 
	 	 
	Settlement Price:

	 	For each Valuation Date, the Volume
Weighted Average Price of the Shares
(“VWAP”) calculated from 9:45 a.m. to 3:45
p.m., as observed on the Bloomberg “VAP”
Page. Section 6.3(a) of the Equity
Definitions is hereby amended by replacing
the words “during the one hour period that
ends at the relevant Valuation Time,
Latest Exercise Time, Knock-in Valuation
Time or Knock-out Valuation Time, as the
case may be” with the following words: “prior to 3:45 p.m. on the relevant
Valuation Date”.
	 
	 	 
	Settlement Method:

	 	Net Physical Settlement only.

3

 

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	Net Physical Settlement:

	 	Subject to “Covenants relating to Net
Physical Settlement” below, Counterparty
shall deliver to Wachovia on the
Settlement Date a number of Shares (the
“Delivered Shares”) equal to the Share
Delivery Quantity, provided that in the
event that the number of Shares calculated
comprises any fractional Share, the Share
Delivery Quantity shall be rounded up or
down to the nearest integral number of
Shares.
	 
	 	 
	Share Delivery Quantity:

	 	For each Exercise Date, a number of
Shares, as calculated by the Calculation
Agent, equal to the Net Physical
Settlement Amount for such Exercise Date
divided by the Settlement Price on the
Valuation Date in respect of such
Settlement Date.
	 
	 	 
	Net Physical Settlement Amount:

	 	For any Exercise Date, an amount equal to
the product of (i) the Number of Warrants
being exercised on the relevant Exercise
Date, (ii) the Strike Price Differential
for such Exercise Date and (iii) the
Warrant Entitlement.
	 
	 	 
	Strike Price Differential:

	 	For any Valuation Date, (i) if the
Settlement Price is greater than the
Strike Price, an amount equal to the
excess of such Settlement Price over the
Strike Price for such Valuation Date or
(ii) if such Settlement Price is less than
or equal to the Strike Price, zero.
	 
	 	 
	Settlement Date:

	 	Settlement with respect to each Exercise
Date shall occur on the third
(3rd) Full Exchange Business
Day following the final Valuation Date,
provided that Wachovia shall have the
right to request by prior written notice
to Counterparty a Settlement Date with
respect to any Exercise Date and the
related Share Delivery Quantity that is
three (3) Full Exchange Business Days
following such Exercise Date. Such
request shall not unreasonably be denied.
	 
	 	 
	Covenants relating to Net
Physical Settlement:

	 	

If, on or before the 30th
Business Day following delivery of Shares
hereunder, Wachovia notifies the
Counterparty that Wachovia has reasonably
determined after advice from counsel that
there is a considered risk that such
Shares are subject to restrictions on
transfer in the hands of Wachovia pursuant
to the rules and regulations promulgated
under the Securities Act of 1933, as
amended (“Securities Act”), then
Counterparty shall either (i) deliver
Shares that are covered by an effective
registration statement of Counterparty for
immediate resale by Wachovia or (ii) agree
to deliver additional Shares in the amount
and manner specified in sub-paragraph (B)
or (C), as applicable, hereto.
	 
	 	 
	 

	 	(A) If Counterparty elects to deliver Shares as described in above
clause (i), then Counterparty shall
	 
	 	 
	 

	 	(a) afford Wachovia a reasonable opportunity to conduct a due
diligence investigation with respect to Counterparty that is
customary in scope for underwritten offerings of equity securities
registered for resale;

	 	 	 
	 

	 	(b) promptly file and use commercially reasonable efforts to obtain
the effectiveness of a registration statement for immediate resale
(the “Registration Statement”) in form and content reasonably
satisfactory to Wachovia and filed pursuant to Rule 415 under the
Securities Act, and such prospectuses as Wachovia may reasonably
request to comply with the applicable prospectus delivery
requirements (the “Prospectus”) for the resale by Wachovia of
such number of Shares as Wachovia shall reasonably specify in
accordance with this paragraph, such Registration Statement to be
effective and Prospectus to be current until the earliest of the date
on which (1) all Delivered Shares have been sold by Wachovia, (2)
Wachovia has advised Counterparty that it no longer

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	 	requires that
such Registration Statement be effective, (3) all remaining Delivered
Shares could be sold by Wachovia without registration pursuant to
Rule 144 promulgated under the Securities Act (the “Registration
Period”) or (4) Counterparty has provided a legal opinion of
nationally recognized counsel in form and substance satisfactory to
Wachovia (with customary assumptions and exceptions) that the Shares
issuable upon exercise of these Warrants will be freely tradable
under the Securities Act upon delivery to Wachovia and not subject to
any legend restricting transferability. It is understood that the
Registration Statement and Prospectus may cover a number of Shares
equal to the aggregate number of Shares (if any) reasonably estimated
by Wachovia to be potentially deliverable by Counterparty in
connection with Net Physical Settlement hereunder (not to exceed the
Maximum Deliverable Share Amount) and shall be subject to the same
suspension of sales during “blackout dates” as provided in the
following paragraph; and
	 
	 	 
	 

	 	(c) Counterparty will enter into a registration rights agreement with
Wachovia in form and substance reasonably acceptable to Wachovia and
Counterparty (“Registration Rights Agreement”), which
agreement will contain among other things, customary representations
and warranties and indemnification, restrictions on sales during
“blackout dates”, provide for delivery of comfort letters, opinions
of counsel, due diligence rights and other rights relating to the
registration of a number of Shares equal to the number of Delivered
Shares and other Shares deliverable hereunder up to the Maximum
Deliverable Share Amount.
	 
	 	 
	 

	 	(d) Counterparty shall promptly pay to Wachovia a $0.04 per Share fee
with all Shares delivered in connection with Net Physical Settlement
pursuant to a Registration Statement.
	 
	 	 
	 

	 	(B) If Counterparty elects to deliver Shares as described in above
clause (ii), then
	 
	 	 
	 

	 	(a) Counterparty shall afford Wachovia and any potential
institutional purchaser of any Shares identified by Wachovia a
reasonable opportunity to conduct a due diligence investigation with
respect to Counterparty that is customary in scope for private
placements of equity securities by a publicly reporting company (if
Counterparty is a publicly reporting company at such time) to
institutional purchasers subject to execution of any customary
confidentiality agreements;
	 
	 	 
	 

	 	(b) Counterparty shall enter into an agreement (a “Private
Placement Agreement”) with Wachovia on commercially reasonable
terms in connection with the private placement of such Shares by
Counterparty to Wachovia or an affiliate and the private resale of
such shares by Wachovia or such affiliate, substantially similar to
private placement purchase agreements customary for private
placements of equity securities by a publicly reporting company (if
Counterparty is a publicly reporting company at such time) to
institutional purchasers, in form and substance commercially
reasonably satisfactory to Wachovia and Counterparty, which Private
Placement Agreement shall include reasonable and customary provisions
relating to the indemnification of, and contribution in connection
with the liability of, Wachovia and its affiliates, shall provide for
the payment by Counterparty of all reasonable expenses in connection
with such resale, including all reasonable and documented fees and
expenses of counsel for Wachovia, shall contain representations,
warranties and agreements of Counterparty reasonably necessary or
advisable to establish and maintain the availability of an exemption
from the registration requirements of the Securities Act for such
resales, and shall use reasonable best efforts to

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Execution Copy

	 	 	 
	 

	 	provide for the
delivery of accountants’ “comfort letters” to Wachovia or such
affiliate with respect to the financial statements and certain
financial information contained in or incorporated by reference into
any offering memorandum prepared for the resale of such Shares;
	 
	 	 
	 

	 	(c) Wachovia shall sell the Delivered Shares in a commercially
reasonable manner, in good faith and in accordance with the terms and
limitations set forth in the Private Placement Agreement until the
amount received by Wachovia for the sale of the Shares (the
“Proceeds Amount”) is equal to the Net Physical Settlement
Amount. Any remaining Delivered Shares shall be returned to
Counterparty. If the Proceeds Amount is less than the Net Physical
Settlement Amount, Counterparty shall promptly deliver upon notice
from Wachovia additional Shares to Wachovia until the dollar amount
from the sale of such Shares by Wachovia equals the difference
between the Net Physical Settlement Amount and the Proceeds Amount.
In no event shall Counterparty be required to deliver to Wachovia a
number of Shares greater than the Maximum Deliverable Share Amount.
	 
	 	 
	 

	 	(C) Notwithstanding the foregoing: (I) if
Counterparty has elected to deliver Shares as described in clause (i) above and either (a) Counterparty does not provide for the
sale of the Shares under the Registration Statement as provided in the Registration Rights Agreement or (b) some Shares cannot be
registered under the Registration Statement due to Rule 415(a)(4) under the Securities Act, then the provisions of sub-paragraph (B)
shall apply to the extent Counterparty has not satisfied its obligations hereunder by the delivery of Shares pursuant to
sub-paragraph (A). (II) If sub-paragraph (B) is applicable and Counterparty fails to satisfy its obligations under such
sub-paragraph (B), then Counterparty may deliver unregistered Shares of equivalent value to the Net Physical Settlement Amount (or,
if applicable, the unsatisfied portion thereof). The value of any unregistered Shares so delivered shall be discounted to reflect
an appropriate liquidity discount (determined by Wachovia in good faith and in a commercially reasonable manner). (III) If some or
all of the Delivered Shares cannot be used to close out stock loans in the shares of Counterparty entered into to establish or
maintain short positions by Wachovia in connection with this Transaction without a prospectus being required by applicable law to be
delivered to such lender, then the value of any such Delivered Shares shall reflect an additional discount of 0.15% below the value
otherwise determined under this heading “Covenants relating to Net Physical Settlement” and the number of Shares deliverable shall
be correspondingly increased. Wachovia and Counterparty agree that actual damages would be difficult to ascertain under these
circumstances and that the amount of liquidated damages resulting from the determination in the preceding sentence is a good faith
estimate of such damages and not a penalty. In no event shall Counterparty be required to top-up any delivery in cash or deliver to
Wachovia a number of Shares greater than the Maximum Deliverable Share Amount.

	 	 	 
	Limitations on Net Physical
	 	 
	Settlement by Counterparty:

	 	Notwithstanding anything herein or in the Agreement to the contrary, the number of Shares that
may be delivered at settlement by Counterparty shall not exceed the product of 1.20 times the
initial Number of Warrants at any time (“Maximum
Deliverable Share Amount”), as adjusted by the
Calculation Agent to account for any subdivision, stock-split, reclassification or similar
dilutive event with respect to the Shares.
	 
	 	 
	 

	 	Counterparty represents and warrants that the number of Available Shares as of the Trade Date is
greater than the Maximum Deliverable Share Amount.

6

 

Execution Copy

	 	 	 
	 

	 	Counterparty covenants and agrees that
Counterparty shall not take any action of corporate governance or otherwise to reduce the number
of Available Shares below the Maximum Deliverable Share Amount. 

For this purpose, “Available Shares” means the number of Shares Counterparty currently has
authorized (but not issued and outstanding) less the maximum number of Shares that may be
required to be issued by Counterparty in connection with stock options, convertibles, and other
commitments of Counterparty that may require the issuance or delivery of Shares in connection
therewith.
	 
	 	 
	Dividends:
	 	 
	 
	 	 
	Extraordinary Dividends:

	 	Any and all dividends declared by the Issuer for which the ex-dividend date occurs during the
period from, and including, the Trade Date to, and including, the date on which Counterparty has
fully performed its obligations to deliver Shares hereunder.
	 
	 	 
	Adjustments:
	 	 
	 
	 	 
	Method of Adjustment:

	 	Calculation Agent Adjustment
	 
	 	 
	Extraordinary Events:
	 	 
	 
	 	 
	Consequences of Merger Events:

	 	(a) Share-for-Share: Calculation Agent Adjustment
	 
	 	 
	 

	 	(b) Share-for-Other: Calculation Agent Adjustment
	 
	 	 
	 

	 	(c) Share-for-Combined: Calculation Agent Adjustment
	 
	 	 
	Tender Offer:

	 	Applicable
	 
	 	 
	Consequences of Tender Offers:

	 	(a) Share-for-Share: Calculation Agent Adjustment
	 
	 	 
	 

	 	(b) Share-for-Other: Calculation Agent Adjustment
	 
	 	 
	 

	 	(c) Share-for-Combined: Calculation Agent Adjustment

	 	 	 	 	 
	Nationalization, Insolvency
or Delisting:
	 	
Cancellation and Payment (subject to
 satisfaction by delivery of Shares as set
 forth in “Early Termination” below). In
 addition to the provisions of Section
12.6(a)(iii) of the Equity Definitions, it
will also constitute a Delisting if the
Exchange is located in the United States
 and the Shares are not immediately
re-listed, re-traded or re-quoted on any
of the New York Stock Exchange, the
American Stock Exchange or the NASDAQ
 National Market System (or their
 respective successors, including without
 limitation the NASDAQ Global Market and
 NASDAQ Global Select Market); if the
 Shares are immediately re-listed,
 re-traded or re-quoted on any such
 exchange or quotation system, such
exchange or quotation system shall
thereafter be deemed to be the Exchange.

	 
	 	 	 	 
	Determining Party:
	 	As specified under “Early Termination”
	 
	 	 	 	 
	 
	 	For the avoidance of doubt, with respect
to any Extraordinary Events hereunder,
upon the occurrence of Cancellation and
Payment in whole or in part, the parties

7

 

Execution Copy

	 	 	 	 	 
	 
	 	agree that, notwithstanding anything to
the contrary in the Equity Definitions,
the provisions set forth in the Early
Termination section below shall apply.

	 
	 	 	 	 
	Additional Disruption Events:
	 	 	 	 
	 
	 	 	 	 
	Change in Law:
	 	Applicable
	 
	 	 	 	 
	Failure to Deliver:
	 	Not Applicable
	 
	 	 	 	 
	Insolvency Filing:
	 	Applicable
	 
	 	 	 	 
	Hedging Disruption Event:
	 	Applicable
	 
	 	 	 	 
	Increased Cost of Hedging:
	 	Not Applicable
	 
	 	 	 	 
	Loss of Stock Borrow:
	 	Applicable
	 
	 	 	 	 
	Maximum Stock Loan Rate:
	 	0.75%	 
	 
	 	 	 	 
	Increased Cost of Stock Borrow:
	 	Applicable
	 
	 	 	 	 
	Initial Stock Loan Rate:
	 	0.25%	 
	 
	 	 	 	 
	Hedging Party:
	 	Wachovia
	 
	 	 	 	 
	Determining Party:
	 	As specified under “Early Termination”
	 
	 	 	 	 
	Non-Reliance:
	 	Applicable
	 
	 	 	 	 
	Agreements and
	 	 	 	 
	Acknowledgments Regarding
	 	 	 	 
	Hedging Activities:
	 	Applicable
	 
	 	 	 	 
	Additional Acknowledgments:
	 	Applicable
	 
	 	 	 	 
	Other Provisions:
	 	 	 	 
	 
	 	 	 	 
	Additional Agreements:
	 	If Counterparty would be obligated (but
 for the provisions of this paragraph) to
 pay cash to Wachovia pursuant to the terms
 of this Agreement for any reason, then
 such payment obligation shall be satisfied
 by the delivery to Wachovia of a number of
 Shares (whether registered or
 unregistered) having a cash value equal to
 the amount of such payment obligation
 (such number of Shares to be delivered to
 be determined by the Calculation Agent to
 determine the number of Shares that could
 be sold by Wachovia over a reasonable
 period of time to realize the cash
 equivalent of such payment obligation
 taking into account any applicable
 discount (determined by the Calculation
 Agent) to reflect any restrictions on
 transfer as well as the market value of
 the Shares).  Settlement relating to any
 delivery of Shares pursuant to this
 paragraph shall occur within a reasonable
 period of time.  The number of Shares
 delivered pursuant to this paragraph shall
 not exceed the Maximum Deliverable Share
 Amount and shall be subject to the
 provisions under “Early Termination”
hereof regarding Proceeds Amount.
	 
	 	 	 	 
	Early Termination:
	 	Notwithstanding Section 6(e) of the
Agreement or Sections 12.7 or 12.8 of the
Equity Definitions, if, with respect to
the Transaction contemplated hereunder,

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	 	(A) an Early Termination Date with respect
to any Event of Default or any Termination
Event, (B) a Merger Date with respect to
any Merger Event or Tender Offer Date with
respect to a Tender Offer, (C) a Closing
Date with respect to an event described in
Section 12.6 of the Equity Definitions, or
(D) date as of which the Transaction is,
or is deemed to have been, terminated or
cancelled as a result of an applicable
Additional Disruption Event (any such
date, the “Relevant Date”) shall occur,
then in lieu of calculating any payments
hereunder pursuant to Section 6(e) of the
Agreement or Sections 12.7 or 12.8 of the
Equity Definitions, as applicable, (if a
calculation under such sections would
otherwise be required), the Calculation
Agent shall determine the number of Shares
deliverable by Counterparty to Wachovia on
the following basis:

	 	 	 
	 

	 	(1) such Relevant Date shall be the sole Exercise Date hereunder and
Automatic Exercise shall be applicable to the unexercised Number of
Warrants (the “Unexpired Number”);
	 
	 	 
	 

	 	(2) the Settlement Method shall be Net Share Settlement;
	 
	 	 
	 

	 	(3) Counterparty shall deliver to Wachovia the Net Share Settlement
Amount on the Settlement Date with respect to such Relevant Date
(“Early Termination Stock Settlement”); provided that, if
Counterparty is delivering Shares as a result of a Merger Event, the
Settlement Date for such delivery will be immediately prior to the
effective time of the Merger Event and the Shares will be deemed
delivered at such time such that Wachovia will be a holder of the
Shares prior to such effective time;
	 
	 	 
	 

	 	(4) Net Share Settlement Amount shall mean (subject to the Maximum
Deliverable Share Amount) a number of Shares equal to the sum of (A)
the Share Delivery Quantity (as defined herein) and (B) the product
of (x) the additional Shares per Warrant (the “Additional
Shares”) determined by reference to the table attached as Annex A
hereto based on the date on which such Relevant Date occurs and the
VWAP Price on such date, (y) the Unexpired Number, and (z) the
Warrant Entitlement;
	 
	 	 
	 

	 	(5) with respect to the determination of Additional Shares, if the
actual VWAP Price is between two VWAP Price amounts in the table or
the Relevant Date is between two Relevant Dates in the table, the
Additional Shares shall be determined by a straight-line
interpolation between the number of Additional Shares set forth for
the next higher and next lower VWAP Price amounts and the two nearest
Relevant Dates, as applicable, based on a 365-day year; and
	 
	 	 
	 

	 	(6) with respect to any adjustment to the terms of the Transaction,
the Calculation Agent, shall correspondingly adjust the Additional
Shares and/or the VWAP Prices (each as set forth in the table in
Annex A hereto) as of any date of such adjustments; provided, for the
avoidance of doubt, that any such adjustments shall be made
consistently with the applicable provisions of this Confirmation and
the Equity Definitions. For the avoidance of doubt, any calculations
made by the Calculation Agent with respect to this Transaction
pursuant to Section 11.2(c), Section 12.2(d) or Section 12.3(c) of
the Equity Definitions may take into account the Calculation Agent’s
determination of the fair market value of the Shares under the then
prevailing circumstances.
	 
	 	 
	 

	 	On or prior to the Relevant Date, if so requested by Wachovia upon advice of counsel,
Counterparty shall enter into a registration rights agreement with Wachovia in form and
substance reasonably acceptable to Wachovia and Counterparty (which agreement will contain
among other things, reasonable

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	 	customary representations and warranties and indemnification,
restrictions on sales during “blackout dates”, and provide for delivery of comfort letters,
opinions of counsel, due diligence rights and other customary rights) and Counterparty shall
satisfy the conditions contained therein and Counterparty shall file and use its commercially
reasonable efforts to obtain the effectiveness a Registration Statement pursuant to Rule 415
under the Securities Act. If and when such Registration Statement shall have been declared
effective by the Securities and Exchange Commission, Counterparty shall have made available to
Wachovia such Prospectuses as Wachovia may reasonably request to comply with the applicable
prospectus delivery requirements for the resale by Wachovia of such number of Shares as
Wachovia shall specify (or, if greater, the number of Shares that Counterparty shall specify).
Such Registration Statement shall be effective and Prospectus shall be current until the
earliest of the date on which (i) all Shares delivered by Counterparty in connection with an
Early Termination Date, (ii) Wachovia has advised Counterparty that it no longer requires that
such Registration Statement be effective, (iii) all remaining Shares could be sold by Wachovia
without registration pursuant to Rule 144 promulgated under the Securities Act (the
“Termination Registration Period”) or (iv) Counterparty has provided a legal opinion of
nationally recognized counsel in form and substance satisfactory to Wachovia (with customary
assumptions and exceptions) that the Shares issuable upon exercise of these Warrants will be
freely tradable under the Securities Act upon delivery to Wachovia and not subject to any
legend restricting transferability. It is understood that the Registration Statement and
Prospectus will cover a number of Shares equal to the number of Shares plus the aggregate
number of Shares (if any) reasonably estimated by Wachovia to be potentially deliverable by
Counterparty in connection with Early Termination Stock Settlement hereunder, but in no event
exceeding the Maximum Deliverable Share Amount. On each day during the Termination
Registration Period Counterparty shall represent that each of its filings under the Securities
Act, the Exchange Act or other applicable securities laws that are required to be filed have
been filed and that, as of the respective dates thereof and as of the date of this
representation, they do not contain any untrue statement of a material fact or omission of a
material fact required to be stated therein or necessary to make the statements made, in the
light of the circumstances under which they were made, not misleading.
	 
	 	 
	 

	 	If Counterparty does not deliver Shares subject to an effective Registration Statement as set
forth above (or if some or all of the Shares delivered cannot be used to close out stock loans
in the shares of Counterparty entered into to establish or maintain short positions by
Wachovia in connection with this Transaction without a prospectus being required by applicable
law to be delivered to such lender), the provisions of sub-paragraphs (B) and (C) set forth
above under “Covenants Relating to Net Physical Settlement” shall apply, mutatis mutandis, as
if the Net Physical Settlement Amount were the Transaction Early Termination Amount.
“Transaction Early Termination Amount” means the Net Share Settlement Amount multiplied by the
Settlement Price. In no event shall Counterparty be required to deliver to Wachovia a number
of Shares greater than the Maximum Deliverable Share Amount.
	 
	 	 
	Compliance With 

Securities Laws:

	 	Counterparty represents and agrees that it has complied, and will comply, in connection with
this Transaction and all related or contemporaneous sales and purchases of Shares, with the
applicable provisions of the Securities Act, the Exchange Act and the rules and regulations
promulgated thereunder, including, without limitation, Rule 10b-5 and 13e and Regulation M
under the Exchange Act.

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	 	Each party acknowledges that the offer and sale of the Transaction to it is intended to be
exempt from registration under the Securities Act by virtue of Section 4(2) thereof.
Accordingly, each party represents and warrants to the other party that (i) it has the
financial ability to bear the economic risk of entering into the Transaction and is able to
bear a total loss of its investment, (ii) it is an “accredited investor” as that term is
defined in Regulation D as promulgated under the Securities Act and (iii) the disposition of
this Transaction and the Shares is restricted under this Confirmation, the Securities Act and
state securities laws.
	 
	 	 
	 

	 	Counterparty further represents and warrants that:
	 
	 	 
	 

	 	(a) Counterparty is not entering into this Transaction to create
actual or apparent trading activity in the Shares (or any security
convertible into or exchangeable for Shares) or to raise or depress
or otherwise manipulate the price of the Shares (or any security
convertible into or exchangeable for Shares);
	 
	 	 
	 

	 	(b) Counterparty represents and acknowledges that as of the date
hereof and without limiting the generality of Section 13.1 of the
Equity Definitions, Wachovia is not making any representations or
warranties with respect to the treatment of the Transaction under
FASB Statements 149 or 150, EITF Issue No. 00-19 (or any successor
issue statements) or under FASB’s Liabilities & Equity Project;
	 
	 	 
	 

	 	(c) Counterparty is not, and after giving effect to the Transaction
contemplated hereby, will not be, an “investment company” as such
term is defined in the Investment Company Act of 1940, as amended.
	 
	 	 
	 

	 	(d) As of the Trade Date and each date on which a payment or delivery
is made by Counterparty hereunder, (i) the assets of Counterparty at
their fair valuation exceed the liabilities of Counterparty,
including contingent liabilities; (ii) the capital of Counterparty is
adequate to conduct its business; and (iii) Counterparty has the
ability to pay its debts and other obligations as such obligations
mature and does not intend to, or believe that it will, incur debt or
other obligations beyond its ability to pay as such obligations
mature.
	 
	 	 
	Account Details:

	 	Account for payments to Counterparty:

PNC Bank, Ohio, N.A.

201 East Fifth Street

Cincinnati, Ohio 45201

ABA Number: 042000398

Account Name: General Cable Corporation

Account Number: 4074093412

SWIFT: PNCCUS33

	 	 	 
	 

	 	Account for deliveries of Shares to Counterparty: [To be advised]
	 
	 	 
	 

	 	Account for payments to Wachovia:

WBNA, Charlotte

ABA: 053-000-219

A/C: 04659360000127

Ref: Equity Derivatives

	 	 	 
	 

	 	Account for delivery of Shares to Wachovia: [To be advised]

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	Agreement Regarding Shares:

	 	Counterparty agrees that, in respect of any Shares delivered to Wachovia, such Shares shall be,
upon such delivery, duly and validly authorized, issued and outstanding, fully paid and
non-assessable and subject to no adverse claims of any other party. The issuance of such Shares
does not and will not require the consent, approval, authorization, registration or qualification
of any government authority, except such as shall have been obtained on or before the delivery date
of any Shares or as may be required in connection with any Registration Statement relating to any
Shares.
	 
	 	 
	Bankruptcy Rights:

	 	In the event of Counterparty’s bankruptcy, Wachovia’s rights in connection with this Transaction
shall not exceed those rights held by common shareholders. For the avoidance of doubt, the parties
acknowledge and agree that Wachovia’s rights with respect to any other claim arising from this
Transaction prior to Counterparty’s bankruptcy shall remain in full force and effect and shall not
be otherwise abridged or modified in connection herewith.
	 
	 	 
	Set-Off:

	 	Each party waives any and all rights it may have to set-off, whether arising under any agreement,
applicable law or otherwise.
	 
	 	 
	Transfer:

	 	Neither party may transfer its rights and delegate its obligations under this Transaction without
the prior written consent of the other party, which shall not be unreasonably withheld. Either
party may assign its rights and delegate its obligations hereunder, in whole or in part, to any
other person (an “Assignee”) with the prior
consent of the other party, effective (the “Transfer
Effective Date”) upon delivery to such party of an executed acceptance and assumption by the
Assignee (an “Assumption”) of the transferred obligations of the assigning party under this
Transaction (the “Transferred Obligations”). Notwithstanding any other provision in this
Confirmation to the contrary requiring or allowing Wachovia to purchase, sell, receive or deliver
any Shares or other securities to or from Counterparty, Wachovia may designate any of its
affiliates to purchase, sell, receive or deliver such Shares or other securities and otherwise to
perform Wachovia’s obligations in respect of this Transaction and any such designee may assume such
obligations. Wachovia shall be discharged of its obligations to Counterparty to the extent of any
such performance.
	 
	 	 
	Indemnity:

	 	Each party (the
“Indemnifying Party”) agrees to indemnify the other party, its Affiliates and their
respective directors, officers, agents and controlling parties (each such person being an
“Indemnified Party”) from and against any and all losses, claims, damages and liabilities, joint
and several, to which such Indemnified Party may become subject because of a breach of any
representation or covenant hereunder, in the Agreement or any other agreement relating to the
Agreement or Transaction and will reimburse Indemnified Party for all reasonable expenses
(including reasonable legal fees and expenses) as they are incurred in connection with the
investigation of, preparation for, or defense of, any pending or threatened claim or any action or
proceeding arising therefrom, whether or not such Indemnified Party is a party thereto. The
Indemnifying Party will not be liable under the foregoing Indemnity provision to the extent that
any loss, claim, damage, liability or expense is found in a final judgment by a court to have
resulted from an Indemnified Party’s gross negligence or willful misconduct.

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Additional Agreements, Representations and Covenants of Counterparty, Etc.:

	(a)	 	Counterparty hereby represents and warrants to Wachovia, on each day from the Trade Date to
and including the earlier of (i) December 15, 2006, and (ii) the date by which Wachovia is
able to initially complete a hedge of its position created by this Transaction, that:

	 	(1)	 	it will not, and will not permit any person or entity subject to its control
to, bid for or purchase Shares during such period except pursuant to transactions or
arrangements which have been approved by Wachovia or an affiliate of Wachovia; and
	 
	 	(2)	 	it has publicly disclosed all material information necessary for it to be able
to purchase or sell Shares in compliance with applicable federal securities laws and
that it has publicly disclosed all material information with respect to its condition
(financial or otherwise).

	(b)	 	No collateral shall be required by either party for any reason in connection with this
Transaction.
	 
	(c)	 	Wachovia shall not be entitled to exercise any Warrant or take delivery of any Shares
deliverable hereunder, and Automatic Exercise shall not apply with respect to any Warrant, to
the extent (but only to the extent) that the receipt of any Shares upon the exercise of such
Warrant or otherwise hereunder would result in Wachovia, or its ultimate parent entity
becoming, directly or indirectly, the beneficial owner (as such term is defined for purposes
of Section 13(d) of the Exchange Act) at any time of more than 8.0 percent of the class of the
Counterparty’s outstanding equity securities that is comprised of the Shares (an “Excess
Share Owner”).
	 
	 	 	Wachovia shall provide prior notice to Counterparty if the exercise of any Warrant or
delivery of Shares hereunder would cause Wachovia to become, directly or indirectly, an
Excess Share Owner; provided that the failure of Wachovia to provide such notice
shall not alter the effectiveness of the provisions set forth in the preceding sentence and
any purported exercise or delivery in violation of such provisions shall be void and have no
effect. If any delivery owed to Wachovia hereunder is not made, in whole or in part, as a
result of this provision, Counterparty’s obligation to make such delivery shall not be
extinguished and Counterparty shall make such delivery as promptly as practicable after
Wachovia gives notice that such delivery would not result in Wachovia being an Excess Share
Owner; provided that any such notice must be delivered by Wachovia no later than June 5,
2014.
	 
	 	 	If Wachovia is not entitled to exercise any Warrant because such exercise would cause
Wachovia to become, directly or indirectly, an Excess Share Owner and Wachovia thereafter
disposes of Shares owned by it or any action is taken that would then permit Wachovia to
exercise such Warrant without such exercise causing it to become, directly or indirectly, an
Excess Share Owner, then Wachovia shall provide notice of the taking of such action to
Counterparty and such Warrant shall then become exercisable by Wachovia to the extent such
Warrant is otherwise or had otherwise become exercisable hereunder; provided that any such
notice must be delivered by Wachovia no later than June 5, 2014. In such event, the
Expiration Date with respect to such Warrant shall be the date on which Counterparty
receives such notice from Wachovia, and the related Settlement Date shall be as soon as
reasonably practicable after receipt of such notice but no more than three (3) Exchange
Business Days thereafter (but in no event shall the Settlement Date occur prior to the date
on which it would have otherwise occurred but for the provisions of this subsection);
provided that the related Net Physical Settlement Amount shall be the same as the
Net Physical Settlement Amount but for the provisions of this subsection. In addition,
within 30 calendar days of a Settlement Date, Counterparty shall use its reasonable efforts
to refrain from activities that could reasonably be expected to result in Wachovia’s
ownership of Shares exceeding 10% of all issued and outstanding Shares.

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Matters Relating to Agent:

Terms relating to the Agent:

	(a)	 	The Agent is registered as a broker-dealer with the U.S. Securities and Exchange Commission
and the National Association of Securities Dealers, is acting hereunder for and on behalf of
Wachovia solely in its capacity as agent for Wachovia pursuant to instructions from Wachovia,
and is not and will not be acting as the Counterparty’s agent, broker, advisor or fiduciary in
any respect under or in connection with this Transaction.
	 
	(b)	 	In addition to acting as Wachovia’s agent in executing this Transaction, the Agent is
authorized from time to time to give written payment and/or delivery instructions to the
Counterparty directing it to make its payments and/or deliveries under this Transaction to an
account of the Agent for remittance to Wachovia (or its designee), and for that purpose any
such payment or delivery by the Counterparty to the Agent shall be treated as a payment or
delivery to Wachovia.
	 
	(c)	 	Except as otherwise provided herein, any and all notices, demands, or communications of any
kind transmitted in writing by either Wachovia or the Counterparty under or in connection with
this Transaction will be transmitted exclusively by such party to the other party through the
Agent at the following address:

Wachovia Capital Markets, LLC

201 South College Street, 23rd Floor

Charlotte, NC 28288-0601

Facsimile No.: (704) 383-8425

Telephone No.: (704) 715-8086

Attention: Equity Derivatives

	(d)	 	The Agent shall have no responsibility or liability to Wachovia or the Counterparty for or
arising from (i) any failure by either Wachovia or the Counterparty to perform any of their
respective obligations under or in connection with this Transaction, (ii) the collection or
enforcement of any such obligations, or (iii) the exercise of any of the rights and remedies
of either Wachovia or the Counterparty under or in connection with this Transaction. Each of
Wachovia and the Counterparty agrees to proceed solely against the other to collect or enforce
any such obligations, and the Agent shall have no liability in respect of this Transaction
except for its gross negligence or willful misconduct in performing its duties as the agent of
Wachovia.

	(e)	 	Upon written request, the Agent will furnish to Wachovia and the Counterparty the date and
time of the execution of this Transaction and a statement as to the source and amount of any
remuneration received or to be received by the Agent in connection with this Transaction.

ISDA Master Agreement:

With respect to the Agreement, Wachovia and Counterparty each agree as follows:

“Specified Entity” means in relation to Seller and in relation to Counterparty for purposes of this
Transaction: Not applicable.

Notwithstanding the definition in Section 14 of the Agreement, “Specified Transaction” shall mean
only the OTC Warrant Transaction pursuant to the Confirmation between Counterparty and Wachovia
dated as of November 9, 2006.

The “Cross Default” provisions of Section 5(a)(vi) of the Agreement shall not apply to Wachovia or
Counterparty.

The “Credit Event Upon Merger” provisions of Section 5(b)(iv) of the Agreement will not
apply to Wachovia and Counterparty.

The “Automatic Early Termination” provision of Section 6(a) of the Agreement will not apply
to Wachovia or to Counterparty.

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Payments on Early Termination. For the purpose of Section 6(e) of the Agreement: (i) Loss
shall apply; and (ii) the Second Method shall apply.

“Termination Currency” means USD.

Tax Representations.

	(I)	 	Payer Representations. For the purpose of Section 3(e) of the Agreement, each party
represents to the other party that it is not required by any applicable law, as modified by
the practice of any relevant governmental revenue authority, of any Relevant Jurisdiction to
make any deduction or withholding for or on account of any Tax from any payment (other than
interest under Section 2(e), 6(d)(ii), or 6(e) of the Agreement) to be made by it to the other
party under the Agreement. In making this representation, each party may rely on (i) the
accuracy of any representations made by the other party pursuant to Section 3(f) of the
Agreement, (ii) the satisfaction of the agreement contained in Section 4(a)(i) or 4(a)(iii) of
the Agreement, and the accuracy and effectiveness of any document provided by the other party
pursuant to Section 4(a)(i) or 4(a)(iii) of the Agreement, and (iii) the satisfaction of the
agreement of the other party contained in Section 4(d) of the Agreement; provided that
it will not be a breach of this representation where reliance is placed on clause (ii) above
and the other party does not deliver a form or document under Section 4(a)(iii) of the
Agreement by reason of material prejudice to its legal or commercial position.

	(II)	 	Payee Representations. It is a national banking association organized or formed under the
laws of the United States and is a United States resident for United States federal income tax
purposes.

Delivery Requirements. For the purpose of Sections 4(a)(i) and (ii) of the
Agreement, each party agrees to deliver the following documents:

	(a)	 	Tax forms, documents or certificates to be delivered are:
	 
	 	 	Each party agrees to complete (accurately and in a manner reasonably satisfactory to the
other party), execute, and deliver to the other party, United States Internal Revenue
Service Form W-9 or W-8 BEN, or any successor of such form(s): (i) before the first payment
date under this agreement; (ii) promptly upon reasonable demand by the other party; and
(iii) promptly upon learning that any such form(s) previously provided by the other party
has become obsolete or incorrect.
	 
	(b)	 	Other documents to be delivered:

	 	 	 	 	 	 	 
	 	 	 	 	 	 	Covered by
	Party Required to	 	 	 	 	 	Section 3(d)
	Deliver Document	 	Document Required to be Delivered	 	When Required	 	Representation
	Counterparty and
Wachovia

	 	Evidence of the authority and
true signatures of each official
or representative signing this
Confirmation
	 	Upon or before the
scheduled Effective
Date

	 	Yes
	 
	Counterparty

	 	Certified copy of the resolution
of the Board of Directors or
equivalent document authorizing
the execution and delivery of
this Confirmation and such other
certificate or certificates as
Wachovia shall reasonably
request
	 	Upon or before the
scheduled Effective
Date
	 	Yes

Addresses for Notices: For the purpose of Section 12(a) of the Agreement:

Address for notices or communications to Wachovia for all purposes:

	 	 	 	 	 
	 

	 	Address:
	 	WACHOVIA BANK, NATIONAL ASSOCIATION

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	 	 	 	c/o Wachovia Capital Markets, LLC
	 

	 	 	 	375 Park Avenue
	 

	 	 	 	Mailcode: NY4073
	 

	 	 	 	New York, NY 10152
	 

	 	 	 	Attention: Equity Documentation Unit
	 

	 	Telephone No.:
	 	(212) 214 6100
	 

	 	Facsimile No.:
	 	(212) 214 5913
	 
	 	 	 	 
	Address for notices or communications to Counterparty for all purposes:
	 
	 	 	 	 
	 

	 	Address:
	 	General Cable Corporation
	 

	 	 	 	4 Tesseneer Drive
	 

	 	 	 	Highland Heights, KY 41076-9753
	 

	 	Attention:
	 	Brian J. Robinson
	 

	 	 	 	Senior Vice President, Controller and Treasurer
	 

	 	Telephone No.:
	 	(859) 572-8483
	 

	 	Facsimile No.:
	 	(859) 572-8441

	 

	 	Address:
	 	General Cable Corporation
	 

	 	 	 	4 Tesseneer Drive
	 

	 	 	 	Highland Heights, KY 41076-9753
	 

	 	Attention:
	 	Robert J. Siverd
	 

	 	 	 	Executive Vice President, General Counsel and Secretary
	 

	 	Telephone No.:
	 	(859) 572-8890
	 

	 	Facsimile No.:
	 	(859) 572-8444
	 
	 	 	 	 
	Process Agent:	 	 Wachovia does not appoint a Process Agent.
	 
	 	 	 	 
	 	 	Counterparty does not appoint a Process Agent.

Multibranch Party. Wachovia is a Multibranch Party and may act through the following Offices: its
Charlotte Head Office and its London Branch. Section 10(a) of the Agreement shall be applicable.

Calculation Agent. The Calculation Agent is Wachovia. Upon the request of either party, the
Calculation Agent (or, in the case of a determination made by a party (including a party acting as
Determining Party or Hedging Party), such party) shall, no later than the 5th Business
Day following such request, provide the parties with a statement showing, in reasonable detail, the
computations (including any relevant quotations) by which it has determined any amount payable or
deliverable under, or any adjustment to the terms of, this Transaction. All judgments,
determinations and calculations hereunder by the Calculation Agent or by a party hereto shall be
performed in good faith and in a commercially reasonable manner.

Credit Support Document.

Wachovia: Not Applicable.

Counterparty: Not Applicable.

Credit Support Provider.

With respect to Wachovia: Not Applicable.

With respect to Counterparty: Not Applicable.

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Governing Law. This Confirmation will be governed by, and construed in accordance with, the laws
of the State of New York.

Waiver of Jury Trial. Each party waives, to the fullest extent permitted by applicable law, any
right it may have to a trial by jury in respect of any suit, action or proceeding relating to this
Transaction. Each party (i) certifies that no representative, agent or attorney of the other party
has represented, expressly or otherwise, that such other party would not, in the event of such a
suit, action or proceeding, seek to enforce the foregoing waiver and (ii) acknowledges that it and
the other party have been induced to enter into this Transaction, as applicable, by, among other
things, the mutual waivers and certifications provided herein.

Netting of Payments. The provisions of Section 2(c) of the Agreement shall not be
applicable to this Transaction.

Basic Representations. Section 3(a) of the Agreement is hereby amended by the deletion of
“and” at the end of Section 3(a)(iv); the substitution of a semicolon for the period at the
end of Section 3(a)(v) and the addition of Sections 3(a)(vi), as follows:

	 	 	Eligible Contract Participant; Line of Business. Each party agrees and represents
that it is an “eligible contract participant” as defined in Section 1a(12) of the
U.S. Commodity Exchange Act, as amended (“CEA”), this Agreement and the
Transaction thereunder are subject to individual negotiation by the parties and have
not been executed or traded on a “trading facility” as defined in Section 1a(33) of
the CEA, and it has entered into this Confirmation and this Transaction in
connection with its business or a line of business (including financial
intermediation), or the financing of its business.	 

Acknowledgements:

	(a)	 	The parties acknowledge and agree that there are no other representations, agreements or other
undertakings of the parties in relation to this Transaction, except as set forth in this
Confirmation.
	 
	(b)	 	The parties hereto intend for:

	 	(i)	 	this Transaction to be a “securities contract” as defined in Section 741(7) of
Title 11 of the United States Code (the “Bankruptcy Code”), qualifying for the
protections under Section 555 of the Bankruptcy Code;
	 
	 	(ii)	 	a party’s right to liquidate this Transaction and to exercise any other
remedies upon the occurrence of any Event of Default under the Agreement with respect
to the other party to constitute a “contractual right” as defined in the Bankruptcy
Code;
	 
	 	(iii)	 	all payments for, under or in connection with this Transaction, all payments
for the Shares and the transfer of such Shares to constitute “settlement payments” as
defined in the Bankruptcy Code.

Amendment of Section 6(d)(ii). Section 6(d)(ii) of the Agreement is modified by
deleting the words “on the day” in the second line thereof and substituting therefor “on the day
that is three Local Business Days after the day”. Section 6(d)(ii) is further modified by
deleting the words “two Local Business Days” in the fourth line thereof and substituting therefor
“three Local Business Days.”

Amendment of Definition of Reference Market-Makers. The definition of “Reference Market-Makers” in
Section 14 is hereby amended by adding in clause (a) after the word “credit” and before the
word “and” the words “or to enter into transactions similar in nature to the Transactions.”

Recording of Conversations. Each party (i) consents to the recording of telephone conversations
between the trading, marketing and other relevant personnel of the parties or any of their
Affiliates in connection with this Agreement or any Transaction or potential Transaction, (ii)
agrees to obtain any necessary consent of, and give any

17

 

Execution Copy

necessary notice of such recording to, its
relevant personnel and those of its Affiliates and (iii) agrees, to the extent permitted by
applicable law, that such recordings may be submitted in evidence in any Proceedings.

Disclosure. Each party hereby acknowledges and agrees that Wachovia has authorized Counterparty to
disclose this Transaction and any related hedging transaction between the parties if and to the
extent that Counterparty reasonably determines (after consultation with Wachovia) that such
disclosure is required by law or by the rules of the New York Stock Exchange or any securities
exchange.

Severability. If any term, provision, covenant or condition of this Confirmation, or the
application thereof to any party or circumstance, shall be held to be invalid or unenforceable in
whole or in part for any reason, the remaining terms, provisions, covenants, and conditions hereof
shall continue in full force and effect as if this Confirmation had been executed with the invalid
or unenforceable provision eliminated, so long as this Confirmation as so modified continues to
express, without material change, the original intentions of the parties as to the subject matter
of this Confirmation and the deletion of such portion of this Confirmation will not substantially
impair the respective benefits or expectations of parties to this Agreement; provided,
however, that this severability provision shall not be applicable if any provision of
Section 2, 5, 6 or 13 of the Agreement (or any definition or
provision in Section 14 to the extent that it relates to, or is used in or in connection
with any such Section) shall be so held to be invalid or unenforceable.

Affected Parties. For purposes of Section 6(e) of the Agreement, each party shall be
deemed to be an Affected Party in connection with Illegality and any Tax Event.

[Signatures follow on separate page]

18

 

Please confirm that the foregoing correctly sets forth the terms of our agreement by
executing a copy of this Confirmation and returning it to us by facsimile at 212-214-5913
(Attention: Equity Division Documentation Unit, by telephone contact 212-214-6100).

	 	 	 	 	 	 	 	 	 	 	 
	Very truly yours,	 	 	 	 	 	 
	WACHOVIA CAPITAL MARKETS, LLC,	 	WACHOVIA BANK, NATIONAL ASSOCIATION	 	 
	acting solely in its capacity as Agent	 	By: Wachovia Capital Markets, LLC,	 	 
	of Wachovia Bank, National Association	 	acting solely in its capacity as its Agent	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By: 

Name:

	 	/s/ Cathleen Burke
 

Cathleen Burke
	 	 
	 	By:

Name:
	 	/s/ Cathleen Burke
 

Cathleen Burke
	 	 
	Title:

	 	Managing Director
	 	 	 	Title:
	 	 Managing Director	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Accepted and confirmed as	 	 	 	 	 	 
	of the date first above written:	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	GENERAL CABLE CORPORATION	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By: 

Name:

	 	/s/ Robert J. Siverd
 

Robert J. Siverd
	 	 	 	 	 	 	 	 
	Title:

	 	Executive Vice President,
General Counsel
and Secretary	 	 	 	 	 	 	 	 

Additional OTC Warrant Confirmation

 

     

Annex A

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Relevant Date
	VWAP	 	15-Nov-	 	15-May-	 	15-Nov-	 	15-May-	 	15-Nov-	 	15-May-	 	15-Nov-	 	15-May-	 	15-Nov-	 	15-May-	 	15-Nov-	 	15-May-	 	15-Nov-	 	15-May-	 	15-Nov-
	Price	 	06	 	07	 	07	 	08	 	08	 	09	 	09	 	10	 	10	 	11	 	11	 	12	 	12	 	13	 	13
	$39.50
	 	 	0.393	 	 	 	0.466	 	 	 	0.437	 	 	 	0.408	 	 	 	0.377	 	 	 	0.345	 	 	 	0.311	 	 	 	0.275	 	 	 	0.216	 	 	 	0.179	 	 	 	0.134	 	 	 	0.088	 	 	 	0.044	 	 	 	0.008	 	 	 	0.000	 
	$40.00
	 	 	0.397	 	 	 	0.469	 	 	 	0.440	 	 	 	0.411	 	 	 	0.381	 	 	 	0.349	 	 	 	0.315	 	 	 	0.278	 	 	 	0.220	 	 	 	0.183	 	 	 	0.138	 	 	 	0.091	 	 	 	0.045	 	 	 	0.009	 	 	 	0.000	 
	$45.00
	 	 	0.434	 	 	 	0.501	 	 	 	0.473	 	 	 	0.445	 	 	 	0.415	 	 	 	0.383	 	 	 	0.350	 	 	 	0.314	 	 	 	0.255	 	 	 	0.217	 	 	 	0.170	 	 	 	0.119	 	 	 	0.067	 	 	 	0.018	 	 	 	0.000	 
	$50.00
	 	 	0.468	 	 	 	0.529	 	 	 	0.502	 	 	 	0.475	 	 	 	0.446	 	 	 	0.415	 	 	 	0.382	 	 	 	0.346	 	 	 	0.288	 	 	 	0.249	 	 	 	0.201	 	 	 	0.148	 	 	 	0.091	 	 	 	0.032	 	 	 	0.000	 
	$55.00
	 	 	0.498	 	 	 	0.554	 	 	 	0.528	 	 	 	0.501	 	 	 	0.474	 	 	 	0.444	 	 	 	0.412	 	 	 	0.377	 	 	 	0.319	 	 	 	0.281	 	 	 	0.232	 	 	 	0.178	 	 	 	0.118	 	 	 	0.050	 	 	 	0.001	 
	$60.00
	 	 	0.525	 	 	 	0.576	 	 	 	0.551	 	 	 	0.526	 	 	 	0.499	 	 	 	0.470	 	 	 	0.439	 	 	 	0.405	 	 	 	0.348	 	 	 	0.310	 	 	 	0.263	 	 	 	0.208	 	 	 	0.146	 	 	 	0.073	 	 	 	0.004	 
	$65.00
	 	 	0.550	 	 	 	0.596	 	 	 	0.573	 	 	 	0.548	 	 	 	0.522	 	 	 	0.494	 	 	 	0.464	 	 	 	0.431	 	 	 	0.376	 	 	 	0.339	 	 	 	0.292	 	 	 	0.237	 	 	 	0.175	 	 	 	0.098	 	 	 	0.012	 
	$70.00
	 	 	0.572	 	 	 	0.615	 	 	 	0.592	 	 	 	0.568	 	 	 	0.543	 	 	 	0.516	 	 	 	0.487	 	 	 	0.455	 	 	 	0.402	 	 	 	0.365	 	 	 	0.319	 	 	 	0.266	 	 	 	0.204	 	 	 	0.127	 	 	 	0.029	 
	$75.00
	 	 	0.593	 	 	 	0.632	 	 	 	0.610	 	 	 	0.587	 	 	 	0.563	 	 	 	0.536	 	 	 	0.508	 	 	 	0.477	 	 	 	0.426	 	 	 	0.390	 	 	 	0.346	 	 	 	0.294	 	 	 	0.233	 	 	 	0.156	 	 	 	0.055	 
	$80.00
	 	 	0.562	 	 	 	0.597	 	 	 	0.576	 	 	 	0.554	 	 	 	0.531	 	 	 	0.505	 	 	 	0.478	 	 	 	0.448	 	 	 	0.398	 	 	 	0.364	 	 	 	0.321	 	 	 	0.270	 	 	 	0.212	 	 	 	0.137	 	 	 	0.039	 
	$85.00
	 	 	0.523	 	 	 	0.556	 	 	 	0.535	 	 	 	0.514	 	 	 	0.491	 	 	 	0.467	 	 	 	0.441	 	 	 	0.412	 	 	 	0.363	 	 	 	0.330	 	 	 	0.288	 	 	 	0.240	 	 	 	0.183	 	 	 	0.112	 	 	 	0.023	 
	$90.00
	 	 	0.489	 	 	 	0.519	 	 	 	0.499	 	 	 	0.479	 	 	 	0.457	 	 	 	0.433	 	 	 	0.408	 	 	 	0.380	 	 	 	0.334	 	 	 	0.301	 	 	 	0.261	 	 	 	0.214	 	 	 	0.160	 	 	 	0.093	 	 	 	0.014	 
	$100.00
	 	 	0.433	 	 	 	0.458	 	 	 	0.440	 	 	 	0.421	 	 	 	0.400	 	 	 	0.378	 	 	 	0.355	 	 	 	0.329	 	 	 	0.285	 	 	 	0.255	 	 	 	0.218	 	 	 	0.175	 	 	 	0.126	 	 	 	0.066	 	 	 	0.008	 
	$110.00
	 	 	0.388	 	 	 	0.409	 	 	 	0.392	 	 	 	0.374	 	 	 	0.355	 	 	 	0.335	 	 	 	0.313	 	 	 	0.288	 	 	 	0.248	 	 	 	0.220	 	 	 	0.185	 	 	 	0.146	 	 	 	0.102	 	 	 	0.050	 	 	 	0.006	 
	$120.00
	 	 	0.352	 	 	 	0.370	 	 	 	0.353	 	 	 	0.337	 	 	 	0.319	 	 	 	0.300	 	 	 	0.279	 	 	 	0.256	 	 	 	0.219	 	 	 	0.192	 	 	 	0.161	 	 	 	0.125	 	 	 	0.085	 	 	 	0.040	 	 	 	0.005	 
	$130.00
	 	 	0.321	 	 	 	0.337	 	 	 	0.321	 	 	 	0.306	 	 	 	0.289	 	 	 	0.271	 	 	 	0.251	 	 	 	0.230	 	 	 	0.195	 	 	 	0.171	 	 	 	0.141	 	 	 	0.108	 	 	 	0.073	 	 	 	0.034	 	 	 	0.005	 
	$140.00
	 	 	0.296	 	 	 	0.309	 	 	 	0.295	 	 	 	0.280	 	 	 	0.264	 	 	 	0.247	 	 	 	0.229	 	 	 	0.209	 	 	 	0.176	 	 	 	0.153	 	 	 	0.126	 	 	 	0.096	 	 	 	0.063	 	 	 	0.030	 	 	 	0.005	 
	$150.00
	 	 	0.274	 	 	 	0.285	 	 	 	0.272	 	 	 	0.258	 	 	 	0.243	 	 	 	0.227	 	 	 	0.209	 	 	 	0.191	 	 	 	0.160	 	 	 	0.138	 	 	 	0.113	 	 	 	0.086	 	 	 	0.056	 	 	 	0.027	 	 	 	0.004	 

Additional OTC Warrant Confirmation

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]