Document:

<PAGE>

                    PREFERRED SECURITIES GUARANTEE AGREEMENT

                                 BY AND BETWEEN

                           SECOND BANCORP INCORPORATED

                                       AND

                            WILMINGTON TRUST COMPANY

                           DATED AS OF SEPTEMBER 28, 2001

<PAGE>

                                TABLE OF CONTENTS
<TABLE>
<CAPTION>

<S>                                                                                                       <C>
                                                                                                           Page No.
ARTICLE I
         DEFINITIONS AND INTERPRETATION..........................................................................1
         Section 1.1       Definitions and Interpretation........................................................1

ARTICLE II
         TRUST INDENTURE ACT.....................................................................................5
         Section 2.1       Trust Indenture Act; Application......................................................5
         Section 2.2       Lists of Holders of Securities........................................................5
         Section 2.3       Reports by the Guarantee Trustee......................................................5
         Section 2.4       Periodic Reports to Guarantee Trustee.................................................5
         Section 2.5       Evidence of Compliance with Conditions Precedent......................................6
         Section 2.6       Events of Default; Waiver.............................................................6
         Section 2.7       Event of Default; Notice..............................................................6
         Section 2.8       Conflicting Interests.................................................................6

ARTICLE III
         POWERS, DUTIES AND RIGHTS OF GUARANTEE TRUSTEE..........................................................7
         Section 3.1       Powers and Duties of the Guarantee Trustee............................................7
         Section 3.2       Certain Rights of Guarantee Trustee...................................................9
         Section 3.3       Not Responsible for Recitals or Issuance of Guarantee................................11

ARTICLE IV
         GUARANTEE TRUSTEE......................................................................................11
         Section 4.1       Guarantee Trustee; Eligibility.......................................................11
         Section 4.2       Appointment, Removal and Resignation of Guarantee Trustee............................12

ARTICLE V
         GUARANTEE..............................................................................................12
         Section 5.1       Guarantee............................................................................12
         Section 5.2       Waiver of Notice and Demand..........................................................13
         Section 5.3       Obligations Not Affected.............................................................13
         Section 5.4       Rights of Holders....................................................................14
         Section 5.5       Guarantee of Payment.................................................................14
         Section 5.6       Subrogation..........................................................................14
         Section 5.7       Independent Obligations..............................................................15

ARTICLE VI
         LIMITATION OF TRANSACTIONS; SUBORDINATION..............................................................15
         Section 6.1       Limitation of Transactions...........................................................15
         Section 6.2       Ranking..............................................................................15

ARTICLE VII
         TERMINATION............................................................................................15

</TABLE>

                                        i

<PAGE>

<TABLE>
<CAPTION>

<S>                                                                                                          <C>

         Section 7.1       Termination..........................................................................15

ARTICLE VIII
         INDEMNIFICATION........................................................................................16
         Section 8.1       Exculpation..........................................................................16
         Section 8.2       Indemnification......................................................................16

ARTICLE IX
         MISCELLANEOUS..........................................................................................16
         Section 9.1       Successors and Assigns...............................................................16
         Section 9.2       Amendments...........................................................................17
         Section 9.3       Notices..............................................................................17
         Section 9.4       Benefit..............................................................................18
         Section 9.5       Governing Law........................................................................18

</TABLE>

                                       ii

<PAGE>

                              CROSS REFERENCE TABLE
<TABLE>
<CAPTION>

<S>            <C>                                                                     <C>
               Section                                                                 Section
                 of                                                                      of
Trust Indenture Act of 1939, as amended                                          Guarantee Agreement

               310(a)...............................................................   4.1(a)
               310(b)...............................................................   4.1(c), 2.8
               310(c)...............................................................   Not Applicable
               311(a)...............................................................   2.2(b)
               311(b)...............................................................   2.2(b)
               311(c)...............................................................   Not Applicable
               312(a)...............................................................   2.2(a)
               312(b)...............................................................   2.2(b)
               313..................................................................   2.3
               314(a)...............................................................   2.4
               314(b)...............................................................   Not Applicable
               314(c)...............................................................   2.5
               314(d)...............................................................   Not Applicable
               314(e)...............................................................   1.1, 2.5, 3.2
               314(f)...............................................................   2.1, 3.2
               315(a)...............................................................   3.1(d)
               315(b)...............................................................   2.7
               315(c)...............................................................   3.1
               315(d)...............................................................   3.1(d)
               316(a)...............................................................   1.1, 2.6, 5.4
               316(b)...............................................................   5.3
               317(a)...............................................................   3.1
               317(b)...............................................................   Not Applicable
               318(a)...............................................................   2.1(b)
               318(b)...............................................................   2.1
               318(c)...............................................................   2.1(b)

</TABLE>

               Note: This Cross-Reference Table does not constitute part of this
               Agreement and shall not affect the interpretation of any of its
               terms or provisions.

                                      iii

<PAGE>

                    PREFERRED SECURITIES GUARANTEE AGREEMENT

          This PREFERRED SECURITIES GUARANTEE AGREEMENT (this "Preferred
Securities Guarantee"), dated as of September 28, 2001, is executed and
delivered by SECOND BANCORP INCORPORATED, an Ohio corporation (the
"Guarantor"), and WILMINGTON TRUST COMPANY, a Delaware banking corporation
organized under the laws of the State of Delaware, as trustee (the
"Guarantee Trustee"), for the benefit of the Holders (as defined herein) from
time to time of the Preferred Securities (as defined herein) of Second Bancorp
Capital Trust I, a Delaware statutory business trust (the "Trust").

                                    RECITALS

          WHEREAS, pursuant to an Amended and Restated Trust Agreement (the
"Trust Agreement"), dated as of September 28, 2001, among the trustees of the
Trust named therein, the Guarantor, as sponsor, and the holders from time to
time of undivided beneficial interests in the assets of the Trust, the Trust is
issuing on the date hereof up to 3,200,000 preferred securities, having an
aggregate Liquidation Amount of up to $32,000,000 designated the 9.00%
Cumulative Trust Preferred Securities;

          WHEREAS, as incentive for the Holders to purchase the Preferred
Securities, the Guarantor desires irrevocably and unconditionally to agree, to
the extent set forth in this Preferred Securities Guarantee, to pay to the
Holders of the Preferred Securities the Guarantee Payments (as defined herein)
and to make certain other payments on the terms and conditions set forth herein.

          NOW, THEREFORE, in consideration of the purchase by each Holder of
Preferred Securities, which purchase the Guarantor hereby agrees shall benefit
the Guarantor, the Guarantor executes and delivers this Preferred Securities
Guarantee for the benefit of the Holders.

I         DEFINITIONS AND INTERPRETATION

          1.1 Definitions and Interpretation.

          In this Preferred Securities Guarantee, unless the context otherwise
requires:

                    (a)       capitalized terms used in this Preferred
                              Securities Guarantee but not defined in the
                              preamble above have the respective meanings
                              assigned to them in this Section 1.1;

                    (b)       terms defined in the Trust Agreement as at the
                              date of execution of this Preferred Securities
                              Guarantee have the same meaning when used in this
                              Preferred Securities Guarantee, unless otherwise
                              defined in this Preferred Securities Guarantee;

                                       1
<PAGE>

                    (c)       a term defined anywhere in this Preferred
                              Securities Guarantee has the same meaning
                              throughout;

                    (d)       all references to "the Preferred Securities
                              Guarantee" or "this Preferred Securities
                              Guarantee" are to this Preferred Securities
                              Guarantee as modified, supplemented or amended
                              from time to time;

                    (e)       all references in this Preferred Securities
                              Guarantee to Articles and Sections are to Articles
                              and Sections of this Preferred Securities
                              Guarantee, unless otherwise specified;

                    (f)       a term defined in the Trust Indenture Act has the
                              same meaning when used in this Preferred
                              Securities Guarantee, unless otherwise defined in
                              this Preferred Securities Guarantee or unless the
                              context otherwise requires; and

                    (g)       a reference to the singular includes the plural
                              and vice versa.

          "Affiliate" has the same meaning as given to that term in Rule 405 of
the Securities Act of 1933, as amended, or any successor rule thereunder.

          "Business Day" means any day other than a Saturday, Sunday, a day on
which federal or state banking institutions in New York, New York or Warren,
Ohio are authorized or required by law, executive order or regulation to close
or a day on which the Corporate Trust Office of the Guarantee Trustee is closed
for business.

          "Corporate Trust Office" means the office of the Guarantee Trustee at
which the corporate trust business of the Guarantee Trustee shall, at any
particular time, be principally administered, which office at the date of
execution of this Agreement is located at Rodney Square North, 1100 North Market
Street, Wilmington, Delaware 19890-0001, Attention: Corporate Trust
Administration.

          "Covered Person" means any Holder or beneficial owner of Preferred
Securities.

          "Debentures" means the 9.00% Subordinated Debentures due December 31,
2031, of the Debenture Issuer held by the Property Trustee of the Trust.

          "Debenture Issuer" means Second Bancorp Incorporated, issuer of the
Debentures under the Indenture.

          "Event of Default" means a default by the Guarantor on any of its
payment or other obligations under this Preferred Securities Guarantee.

          "Guarantee Payments" means the following payments or distributions,
without duplication, with respect to the Preferred Securities, to the extent not
paid or made by the Trust: (i) any accrued and unpaid Distributions that are
required to be paid on such Preferred Securities, to the extent the Trust shall
have funds available therefor, (ii) the redemption price, including all

                                       2
<PAGE>

accrued and unpaid Distributions to the date of redemption (the "Redemption
Price"), to the extent the Trust has funds available therefor, with respect to
any Preferred Securities called for redemption by the Trust, and (iii) upon a
voluntary or involuntary dissolution, winding-up or termination of the Trust
(other than in connection with the distribution of Debentures to the Holders in
exchange for Preferred Securities as provided in the Trust Agreement), the
lesser of (a) the aggregate of the Liquidation Amount and all accrued and unpaid
Distributions on the Preferred Securities to the date of payment, to the extent
the Trust shall have funds available therefor (the "Liquidation Distribution"),
and (b) the amount of assets of the Trust remaining available for distribution
to Holders in liquidation of the Trust.

          "Guarantee Trustee" means Wilmington Trust Company, until a Successor
Guarantee Trustee has been appointed and has accepted such appointment pursuant
to the terms of this Preferred Securities Guarantee and thereafter means each
such Successor Guarantee Trustee.

          "Guarantor" means Second Bancorp Incorporated, an Ohio corporation.

          "Holder" shall mean any holder, as registered on the books and records
of the Trust, of any Preferred Securities; provided, however, that, in
determining whether the holders of the requisite percentage of Preferred
Securities have given any request, notice, consent or waiver hereunder, "Holder"
shall not include the Guarantor, the Guarantee Trustee or any of their
respective Affiliates.

          "Indemnified Person" means the Guarantee Trustee, any Affiliate of the
Guarantee Trustee, or any officers, directors, shareholders, members, partners,
employees, representatives, nominees, custodians or agents of the Guarantee
Trustee.

          "Indenture" means the Indenture dated as of September 28, 2001, among
the Debenture Issuer and Wilmington Trust Company, as trustee, and any indenture
supplemental thereto pursuant to which the Debentures are to be issued to the
Property Trustee of the Trust.

          "Liquidation Amount" means the stated value of $10 per Preferred
Security.

          "Liquidation Distribution" has the meaning provided therefor in the
definition of Guarantee Payments.

          "Majority in Liquidation Amount of the Preferred Securities" means the
holders of more than 50% of the Liquidation Amount of all of the Preferred
Securities.

          "Officers' Certificate" means, with respect to any Person, a
certificate signed by two authorized officers of such Person, at least one of
whom shall be the principal executive officer, principal financial officer,
principal accounting officer, treasurer or any vice president of such Person.
Any Officers' Certificate delivered with respect to compliance with a condition
or covenant provided for in this Preferred Securities Guarantee shall include:

                    (a)       a statement that each officer signing the
                              Officers' Certificate has read the covenant or
                              condition and the definition relating thereto;

                                       3
<PAGE>

                    (b)       a brief statement of the nature and scope of the
                              examination or investigation undertaken by each
                              officer in rendering the Officers' Certificate;

                    (c)       a statement that each such officer has made such
                              examination or investigation as, in such officer's
                              opinion, is necessary to enable such officer to
                              express an informed opinion as to whether or not
                              such covenant or condition has been complied with;
                              and

                    (d)       a statement as to whether, in the opinion of each
                              such officer, such condition or covenant has been
                              complied with.

          "Person" means a legal person, including any individual, corporation,
estate, partnership, joint venture, association, joint stock company, limited
liability company, trust, unincorporated association, or government or any
agency or political subdivision thereof, or any other entity of whatever nature.

          "Preferred Securities" means the 9.00% Cumulative Trust Preferred
Securities representing undivided beneficial interests in the assets of the
Trust which rank pari passu with Common Securities issued by the Trust;
provided, however, that upon the occurrence of an Event of Default, the rights
of holders of Common Securities to payment in respect of distributions and
payments upon liquidation, redemption and otherwise are subordinated to the
rights of holders of Preferred Securities.

          "Redemption Price" has the meaning provided therefor in the definition
of Guarantee Payments.

          "Responsible Officer" means, with respect to the Guarantee Trustee,
any officer within the Corporate Trust Office of the Guarantee Trustee with
direct responsibility for the administration of this Preferred Securities
Guarantee, including any vice-president, any assistant vice-president, any
assistant secretary or other officer or assistant officer of the Guarantee
Trustee customarily performing functions similar to those performed by any of
the above designated officers and also means, with respect to a particular
corporate trust matter, any other officer to whom such matter is referred
because of that officer's knowledge of and familiarity with the particular
subject.

          "Successor Guarantee Trustee" means a successor Guarantee Trustee
possessing the qualifications to act as Guarantee Trustee under Section 4.1.

          "Trust Indenture Act" means the Trust Indenture Act of 1939, as
amended.

                                       4
<PAGE>

II        TRUST INDENTURE ACT

          2.1 Trust Indenture Act; Application.

                    (a)       This Preferred Securities Guarantee is subject to
                              the provisions of the Trust Indenture Act that are
                              required to be part of this Preferred Securities
                              Guarantee and shall, to the extent applicable, be
                              governed by such provisions.

                    (b)       If and to the extent that any provision of this
                              Preferred Securities Guarantee limits, qualifies
                              or conflicts with the duties imposed by Section
                              310 to 317, inclusive, of the Trust Indenture Act,
                              such imposed duties shall control.

          2.2 Lists of Holders of Securities.

                    (a)       In the event the Guarantee Trustee is not also
                              acting in the capacity of the Property Trustee
                              under the Trust Agreement, the Guarantor shall
                              cause to be provided to the Guarantee Trustee a
                              list, in such form as the Guarantee Trustee may
                              reasonably require, of the names and addresses of
                              the Holders of the Preferred Securities ("List of
                              Holders") as of the date (i) within one Business
                              Day after March 15, June 15, September 15 and
                              December 15 of each year, commencing December 15,
                              2001, and (ii) at any other time within 30 days of
                              receipt by the Guarantor of a written request for
                              a List of Holders as of a date no more than 15
                              days before such List of Holders is given to the
                              Guarantee Trustee; PROVIDED, that the Guarantor
                              shall not be obligated to provide such List of
                              Holders at any time the List of Holders does not
                              differ from the most recent List of Holders caused
                              to have been given to the Guarantee Trustee by the
                              Guarantor. The Guarantee Trustee may destroy any
                              List of Holders previously given to it on receipt
                              of a new List of Holders.

                    (b)       The Guarantee Trustee shall comply with its
                              obligations under Sections 311(a), 311(b) and
                              Section 312(b) of the Trust Indenture Act.

          2.3 Reports by the Guarantee Trustee.

          On or before July 31 of each year, commencing July 31, 2002, the
Guarantee Trustee shall provide to the Holders of the Preferred Securities such
reports as are required by Section 313 of the Trust Indenture Act, if any, in
the form and in the manner provided by Section 313 of the Trust Indenture Act.
The Guarantee Trustee shall also comply with the requirements of Section 313(d)
of the Trust Indenture Act.

          2.4 Periodic Reports to Guarantee Trustee.

          The Guarantor shall provide to the Guarantee Trustee such documents,
reports and information as required by Section 314 of the Trust Indenture Act
(if any) and the compliance

                                       5
<PAGE>

certificate required by Section 314 of the Trust Indenture Act in the form, in
the manner and at the times required by Section 314 of the Trust Indenture Act.

          2.5 Evidence of Compliance with Conditions Precedent.

          The Guarantor shall provide to the Guarantee Trustee such evidence of
compliance with any conditions precedent, if any, provided for in this Preferred
Securities Guarantee that relate to any of the matters set forth in Section
314(c) of the Trust Indenture Act. Any certificate or opinion required to be
given by an officer pursuant to Section 314(c)(1) of the Trust Indenture Act may
be given in the form of an Officers' Certificate.

          2.6 Events of Default; Waiver.

          The Holders of a Majority in Liquidation Amount of Preferred
Securities may, by vote, on behalf of the Holders of all of the Preferred
Securities, waive any past Event of Default and its consequences. Upon such
waiver, any such Event of Default shall cease to exist, and any Event of Default
arising therefrom shall be deemed to have been cured, for every purpose of this
Preferred Securities Guarantee, but no such waiver shall extend to any
subsequent or other default or Event of Default or impair any right consequent
thereon.

          2.7 Event of Default; Notice.

                    (a)       The Guarantee Trustee shall, within 90 days after
                              the occurrence of an Event of Default, transmit by
                              mail, first class postage prepaid, to the Holders
                              of the Preferred Securities, notices of all Events
                              of Default actually known to a Responsible Officer
                              of the Guarantee Trustee, unless such defaults
                              have been cured before the giving of such notice;
                              PROVIDED, that, except in the case of a default by
                              Guarantor on any of its payment obligations, the
                              Guarantee Trustee shall be protected in
                              withholding such notice if and so long as a
                              Responsible Officer of the Guarantee Trustee in
                              good faith determines that the withholding of such
                              notice is in the interests of the Holders of the
                              Preferred Securities.

                    (b)       The Guarantee Trustee shall not be deemed to have
                              knowledge of any Event of Default unless (i) the
                              Guarantee Trustee shall have received written
                              notice of such Event of Default, or (ii) a
                              Responsible Officer of the Guarantee Trustee
                              charged with the administration of the Trust
                              Agreement shall have obtained actual knowledge of
                              such Event of Default.

          2.8 Conflicting Interests.

          The Trust Agreement shall be deemed to be specifically described in
this Preferred Securities Guarantee for the purposes of clause (i) of the first
proviso contained in Section 310(b) of the Trust Indenture Act.

                                       6
<PAGE>

III       POWERS, DUTIES AND RIGHTS OF GUARANTEE TRUSTEE

          3.1 Powers and Duties of the Guarantee Trustee.

                    (a)       This Preferred Securities Guarantee shall be held
                              by the Guarantee Trustee for the benefit of the
                              Holders of the Preferred Securities, and the
                              Guarantee Trustee shall not transfer this
                              Preferred Securities Guarantee to any Person
                              except a Holder of Preferred Securities exercising
                              his or her rights pursuant to Section 5.4(b) or to
                              a Successor Guarantee Trustee on acceptance by
                              such Successor Guarantee Trustee of its
                              appointment to act as Successor Guarantee Trustee.
                              The right, title and interest of the Guarantee
                              Trustee shall automatically vest in any Successor
                              Guarantee Trustee, and such vesting and cessation
                              of title shall be effective whether or not
                              conveyancing documents have been executed and
                              delivered pursuant to the appointment of such
                              Successor Guarantee Trustee.

                    (b)       If an Event of Default actually known to a
                              Responsible Officer of the Guarantee Trustee has
                              occurred and is continuing, the Guarantee Trustee
                              shall enforce this Preferred Securities Guarantee
                              for the benefit of the Holders of the Preferred
                              Securities.

                    (c)       The Guarantee Trustee, before the occurrence of
                              any Event of Default and after the curing of all
                              Events of Default that may have occurred, shall
                              undertake to perform only such duties as are
                              specifically set forth in this Preferred
                              Securities Guarantee, and no implied covenants
                              shall be read into this Preferred Securities
                              Guarantee against the Guarantee Trustee. In case
                              an Event of Default has occurred (that has not
                              been cured or waived pursuant to Section 2.6) and
                              is actually known to a Responsible Officer of the
                              Guarantee Trustee, the Guarantee Trustee shall
                              exercise such of the rights and powers vested in
                              it by this Preferred Securities Guarantee, and use
                              the same degree of care and skill in its exercise
                              thereof, as a prudent person would exercise or use
                              under the circumstances in the conduct of his or
                              her own affairs.

                    (d)       No provision of this Preferred Securities
                              Guarantee shall be construed to relieve the
                              Guarantee Trustee from liability for its own
                              negligent action, its own negligent failure to
                              act, or its own willful misconduct, except that:

                              (i)       prior to the occurrence of any Event of
                                        Default and after the curing or waiving
                                        of all such Events of Default that may
                                        have occurred:

                                        (A)       the duties and obligations of
                                                  the Guarantee Trustee shall be
                                                  determined solely by the
                                                  express provisions of this
                                                  Preferred Securities
                                                  Guarantee, and the Guarantee
                                                  Trustee shall not be liable
                                                  except for the performance of
                                                  such duties and obligations as
                                                  are specifically set forth in
                                                  this Preferred

                                       7
<PAGE>

                                                  Securities Guarantee, and no
                                                  implied covenants or
                                                  obligations shall be read
                                                  into this Preferred Securities
                                                  Guarantee against the
                                                  Guarantee Trustee; and

                                        (B)       in the absence of bad faith on
                                                  the part of the Guarantee
                                                  Trustee, the Guarantee Trustee
                                                  may conclusively rely, as to
                                                  the truth of the statements
                                                  and the correctness of the
                                                  opinions expressed therein,
                                                  upon any certificates or
                                                  opinions furnished to the
                                                  Guarantee Trustee and
                                                  conforming to the requirements
                                                  of this Preferred Securities
                                                  Guarantee; but in the case of
                                                  any such certificates or
                                                  opinions that by any provision
                                                  hereof are specifically
                                                  required to be furnished to
                                                  the Guarantee Trustee, the
                                                  Guarantee Trustee shall be
                                                  under a duty to examine the
                                                  same to determine whether or
                                                  not they conform to the
                                                  requirements of this Preferred
                                                  Securities Guarantee;

                              (ii)      the Guarantee Trustee shall not be
                                        liable for any error of judgment made in
                                        good faith by a Responsible Officer of
                                        the Guarantee Trustee, unless it shall
                                        be proved that the Responsible Officer
                                        of the Guarantee Trustee was negligent
                                        in ascertaining the pertinent facts upon
                                        which such judgment was made;

                              (iii)     the Guarantee Trustee shall not be
                                        liable with respect to any action taken
                                        or omitted to be taken by it in good
                                        faith in accordance with the direction
                                        of the Holders of not less than a
                                        Majority in Liquidation Amount of the
                                        Preferred Securities relating to the
                                        time, method and place of conducting any
                                        proceeding for any remedy available to
                                        the Guarantee Trustee, or exercising any
                                        trust or power conferred upon the
                                        Guarantee Trustee under this Preferred
                                        Securities Guarantee; and

                              (iv)      no provision of this Preferred
                                        Securities Guarantee shall require the
                                        Guarantee Trustee to expend or risk its
                                        own funds or otherwise incur personal
                                        financial liability in the performance
                                        of any of its duties or in the exercise
                                        of any of its rights or powers, if the
                                        Guarantee Trustee shall have reasonable
                                        grounds for believing that the repayment
                                        of such funds or liability is not
                                        reasonably assured to it under the terms
                                        of this Preferred Securities Guarantee
                                        or indemnity, reasonably satisfactory to
                                        the Guarantee Trustee, against such risk
                                        or liability is not reasonably assured
                                        to it.

                                       8
<PAGE>

          3.2 Certain Rights of Guarantee Trustee.

                    (a)       Subject to the provisions of Section 3.1:

                              (i)       the Guarantee Trustee may conclusively
                                        rely, and shall be fully protected in
                                        acting or refraining from acting upon,
                                        any resolution, certificate, statement,
                                        instrument, opinion, report, notice,
                                        request, direction, consent, order,
                                        bond, debenture, note, other evidence of
                                        indebtedness or other paper or document
                                        believed by it to be genuine and to have
                                        been signed, sent or presented by the
                                        proper party or parties;

                              (ii)      Any direction or act of the Guarantor
                                        contemplated by this Preferred
                                        Securities Guarantee shall be
                                        sufficiently evidenced by an Officers'
                                        Certificate;

                              (iii)     whenever, in the administration of this
                                        Preferred Securities Guarantee, the
                                        Guarantee Trustee shall deem it
                                        desirable that a matter be proved or
                                        established before taking, suffering or
                                        omitting any action hereunder, the
                                        Guarantee Trustee (unless other evidence
                                        is herein specifically prescribed) may,
                                        in the absence of bad faith on its part,
                                        request and conclusively rely upon an
                                        Officers' Certificate which, upon
                                        receipt of such request, shall be
                                        promptly delivered by the Guarantor;

                              (iv)      the Guarantee Trustee shall have no duty
                                        to see to any recording, filing or
                                        registration of any instrument (or any
                                        rerecording, refiling or registration
                                        thereof);

                              (v)       the Guarantee Trustee may consult with
                                        counsel, and the written advice or
                                        opinion of such counsel with respect to
                                        legal matters shall be full and complete
                                        authorization and protection in respect
                                        of any action taken, suffered or omitted
                                        by it hereunder in good faith and in
                                        accordance with such advice or opinion.
                                        Such counsel may be counsel to the
                                        Guarantor or any of its Affiliates and
                                        may include any of its employees. The
                                        Guarantee Trustee shall have the right
                                        at any time to seek instructions
                                        concerning the administration of this
                                        Preferred Securities Guarantee from any
                                        court of competent jurisdiction;

                              (vi)      the Guarantee Trustee shall be under no
                                        obligation to exercise any of the rights
                                        or powers vested in it by this Preferred
                                        Securities Guarantee at the request or
                                        direction of any Holder, unless such
                                        Holder shall have provided to the
                                        Guarantee Trustee such security and
                                        indemnity, reasonably satisfactory to
                                        the Guarantee Trustee, against the
                                        costs, expenses (including attorneys'
                                        fees and expenses

                                       9
<PAGE>

                                        and the expenses of the Guarantee
                                        Trustee's agents, nominees or
                                        custodians) and liabilities that might
                                        be incurred by it in complying with such
                                        request or direction, including such
                                        reasonable advances as may be requested
                                        by the Guarantee Trustee; PROVIDED that,
                                        nothing contained in this Section
                                        3.2(a)(vi) shall be taken to relieve
                                        the Guarantee Trustee, upon the
                                        occurrence of an Event of Default, of
                                        its obligation to exercise the rights
                                        and powers vested in it by this
                                        Preferred Securities Guarantee;

                              (vii)     the Guarantee Trustee shall not be bound
                                        to make any investigation into the facts
                                        or matters stated in any resolution,
                                        certificate, statement, instrument,
                                        opinion, report, notice, request,
                                        direction, consent, order, bond,
                                        debenture, note, other evidence of
                                        indebtedness or other paper or document,
                                        but the Guarantee Trustee, in its
                                        discretion, may make such further
                                        inquiry or investigation into such facts
                                        or matters as it may see fit;

                              (viii)    the Guarantee Trustee may execute any of
                                        the trusts or powers hereunder or
                                        perform any duties hereunder either
                                        directly or by or through agents,
                                        nominees, custodians or attorneys, and
                                        the Guarantee Trustee shall not be
                                        responsible for any misconduct or
                                        negligence on the part of any agent or
                                        attorney appointed with due care by it
                                        hereunder;

                              (ix)      no third party shall be required to
                                        inquire as to the authority of the
                                        Guarantee Trustee to so act or as to its
                                        compliance with any of the terms and
                                        provisions of this Preferred Securities
                                        Guarantee, both of which shall be
                                        conclusively evidenced by the Guarantee
                                        Trustee's or its agent's taking such
                                        action;

                              (x)       whenever in the administration of this
                                        Preferred Securities Guarantee the
                                        Guarantee Trustee shall deem it
                                        desirable to receive instructions with
                                        respect to enforcing any remedy or right
                                        or taking any other action hereunder,
                                        the Guarantee Trustee (i) may request
                                        instructions from the Holders of a
                                        Majority in Liquidation Amount of the
                                        Preferred Securities, (ii) may refrain
                                        from enforcing such remedy or right or
                                        taking such other action until such
                                        instructions are received, and (iii)
                                        shall be protected in conclusively
                                        relying on or acting in accordance with
                                        such instructions.

                    (b)       No provision of this Preferred Securities
                              Guarantee shall be deemed to impose any duty or
                              obligation on the Guarantee Trustee to perform any
                              act or acts or exercise any right, power, duty or
                              obligation conferred or imposed on it in any
                              jurisdiction in which it shall be illegal, or in
                              which the Guarantee Trustee shall be unqualified
                              or incompetent in accordance with applicable law,
                              to perform any such act or acts or to exercise any

                                       10
<PAGE>

                              such right, power, duty or obligation. No
                              permissive power or authority available to the
                              Guarantee Trustee shall be construed to be a duty.

          3.3 Not Responsible for Recitals or Issuance of Guarantee.

          The Recitals contained in this Guarantee shall be taken as the
statements of the Guarantor, and the Guarantee Trustee does not assume any
responsibility for their correctness. The Guarantee Trustee makes no
representation as to the validity or sufficiency of this Preferred Securities
Guarantee.

IV        GUARANTEE TRUSTEE

          4.1 Guarantee Trustee; Eligibility.

                    (a)       There shall at all times be a Guarantee Trustee
                              which shall:

                              (i) not be an Affiliate of the Guarantor; and

                              (ii)      be a corporation organized and doing
                                        business under the laws of the United
                                        States of America or any state or
                                        territory thereof or of the District of
                                        Columbia, or a corporation or Person
                                        permitted by the Securities and Exchange
                                        Commission to act as an institutional
                                        trustee under the Trust Indenture Act,
                                        authorized under such laws to exercise
                                        corporate trust powers, having a
                                        combined capital and surplus of at least
                                        $50,000,000, and subject to supervision
                                        or examination by federal, state,
                                        territorial or District of Columbia
                                        authority. If such corporation publishes
                                        reports of condition at least annually,
                                        pursuant to law or to the requirements
                                        of the supervising or examining
                                        authority referred to above, then, for
                                        the purposes of this Section 4.1(a)(ii),
                                        the combined capital and surplus of such
                                        corporation shall be deemed to be its
                                        combined capital and surplus as set
                                        forth in its most recent report of
                                        condition so published.

                    (b)       If at any time the Guarantee Trustee shall cease
                              to be eligible to so act under Section 4.1(a), the
                              Guarantee Trustee shall immediately resign in the
                              manner and with the effect set out in Section
                              4.2(c).

                    (c)       If the Guarantee Trustee has or shall acquire any
                              "conflicting interest" within the meaning of
                              Section 310(b) of the Trust Indenture Act, the
                              Guarantee Trustee and Guarantor shall in all
                              respects comply with the provisions of Section
                              310(b) of the Trust Indenture Act.

                                       11
<PAGE>

          4.2 Appointment, Removal and Resignation of Guarantee Trustee.

                    (a)       Subject to Section 4.2(b), the Guarantee Trustee
                              may be appointed or removed without cause at any
                              time by the Guarantor.

                    (b)       The Guarantee Trustee shall not be removed in
                              accordance with Section 4.2(a) until a Successor
                              Guarantee Trustee has been appointed and has
                              accepted such appointment by written instrument
                              executed by such Successor Guarantee Trustee and
                              delivered to the Guarantor.

                    (c)       The Guarantee Trustee appointed to office shall
                              hold office until a Successor Guarantee Trustee
                              shall have been appointed. The Guarantee Trustee
                              may resign from office (without need for prior or
                              subsequent accounting) by an instrument in writing
                              executed by the Guarantee Trustee and delivered to
                              the Guarantor, which resignation shall not take
                              effect until a Successor Guarantee Trustee has
                              been appointed and has accepted such appointment
                              by instrument in writing executed by such
                              Successor Guarantee Trustee and delivered to the
                              Guarantor and the resigning Guarantee Trustee.

                    (d)       If no Successor Guarantee Trustee shall have been
                              appointed and accepted appointment as provided in
                              this Section 4.2 within 60 days after delivery to
                              the Guarantor of an instrument of resignation, the
                              resigning Guarantee Trustee may petition any court
                              of competent jurisdiction for appointment of a
                              Successor Guarantee Trustee. Such court may
                              thereupon, after prescribing such notice, if any,
                              as it may deem proper, appoint a Successor
                              Guarantee Trustee.

                    (e)       No Guarantee Trustee shall be liable for the acts
                              or omissions to act of any Successor Guarantee
                              Trustee.

                    (f)       Upon termination of this Preferred Securities
                              Guarantee or removal or resignation of the
                              Guarantee Trustee pursuant to this Section 4.2,
                              the Guarantor shall pay to the Guarantee Trustee
                              all fees and expenses accrued to the date of such
                              termination, removal or resignation.

V         GUARANTEE

          5.1 Guarantee.

          The Guarantor irrevocably and unconditionally agrees to pay in full to
the Holders the Guarantee Payments (without duplication of amounts theretofore
paid by the Trust), as and when due, regardless of any defense, right of set-off
or counterclaim that the Trust may have or assert. The Guarantor's obligation to
make a Guarantee Payment may be satisfied by direct payment of the required
amounts by the Guarantor to the Holders or by causing the Trust to pay such
amounts to the Holders.

                                       12
<PAGE>

          5.2 Waiver of Notice and Demand.

          The Guarantor hereby waives notice of acceptance of this Preferred
Securities Guarantee and of any liability to which it applies or may apply,
presentment, demand for payment, any right to require a proceeding first against
the Trust or any other Person before proceeding against the Guarantor, protest,
notice of nonpayment, notice of dishonor, notice of redemption and all other
notices and demands.

          5.3 Obligations Not Affected.

          The obligations, covenants, agreements and duties of the Guarantor
under this Preferred Securities Guarantee shall in no way be affected or
impaired by reason of the happening from time to time of any of the following:

                    (a)       the release or waiver, by operation of law or
                              otherwise, of the performance or observance by the
                              Trust of any express or implied agreement,
                              covenant, term or condition relating to the
                              Preferred Securities to be performed or observed
                              by the Trust;

                    (b)       the extension of time for the payment by the Trust
                              of all or any portion of the Distributions,
                              Redemption Price, Liquidation Distribution or any
                              other sums payable under the terms of the
                              Preferred Securities or the extension of time for
                              the performance of any other obligation under,
                              arising out of, or in connection with, the
                              Preferred Securities (other than an extension of
                              time for payment of Distributions, Redemption
                              Price, Liquidation Distribution or other sum
                              payable that results from the extension of any
                              interest payment period on the Debentures or any
                              extension of the maturity date of the Debentures
                              permitted by the Indenture);

                    (c)       any failure, omission, delay or lack of diligence
                              on the part of the Holders to enforce, assert or
                              exercise any right, privilege, power or remedy
                              conferred on the Holders pursuant to the terms of
                              the Preferred Securities, or any action on the
                              part of the Trust granting indulgence or extension
                              of any kind;

                    (d)       the voluntary or involuntary liquidation,
                              dissolution, sale of any collateral, receivership,
                              insolvency, bankruptcy, assignment for the benefit
                              of creditors, reorganization, arrangement,
                              composition or readjustment of debt of, or other
                              similar proceedings affecting, the Trust or any of
                              the assets of the Trust;

                    (e)       any invalidity of, or defect or deficiency in, the
                              Preferred Securities;

                    (f)       any failure or omission to receive any regulatory
                              approval or consent required in connection with
                              the Preferred Securities (or the common equity
                              securities issued by the Trust), including the
                              failure to receive any

                                       13
<PAGE>

                              approval of the Board of Governors of the Federal
                              Reserve System required for the redemption of the
                              Preferred Securities;

                    (g)       the settlement or compromise of any obligation
                              guaranteed hereby or hereby incurred; or

                    (h)       any other circumstance whatsoever that might
                              otherwise constitute a legal or equitable
                              discharge or defense of a guarantor, it being the
                              intent of this Section 5.3 that the obligations of
                              the Guarantor hereunder shall be absolute and
                              unconditional under any and all circumstances.

          There shall be no obligation of the Holders to give notice to, or
obtain consent of, the Guarantor with respect to the happening of any of the
foregoing.

          5.4 Rights of Holders.

                    (a)       Subject to Section 5.4(b), the Holders of a
                              Majority in Liquidation Amount of the Preferred
                              Securities have the right to direct the time,
                              method and place of conducting of any proceeding
                              for any remedy available to the Guarantee Trustee
                              in respect of this Preferred Securities Guarantee
                              or exercising any trust or power conferred upon
                              the Guarantee Trustee under this Preferred
                              Securities Guarantee.

                    (b)       Any Holder of Preferred Securities may institute
                              and prosecute a legal proceeding directly against
                              the Guarantor to enforce its rights under this
                              Preferred Securities Guarantee, without first
                              instituting a legal proceeding against the Trust,
                              the Guarantee Trustee or any other Person.

          5.5 Guarantee of Payment.

          This Preferred Securities Guarantee creates a guarantee of payment and
not of collection.

          5.6 Subrogation.

          The Guarantor shall be subrogated to all (if any) rights of the
Holders of Preferred Securities against the Trust in respect of any amounts paid
to such Holders by the Guarantor under this Preferred Securities Guarantee;
PROVIDED, HOWEVER, that the Guarantor shall not (except to the extent required
by mandatory provisions of law) be entitled to enforce or exercise any right
that it may acquire by way of subrogation or any indemnity, reimbursement or
other agreement, in all cases as a result of payment under this Preferred
Securities Guarantee, if, at the time of any such payment, any amounts are due
and unpaid under this Preferred Securities Guarantee. If any amount shall be
paid to the Guarantor in violation of the preceding sentence, the Guarantor
agrees to hold such amount in trust for the Holders and to pay over such amount
to the Holders.

                                       14
<PAGE>

          5.7 Independent Obligations.

          The Guarantor acknowledges that its obligations hereunder are
independent of the obligations of the Trust with respect to the Preferred
Securities, and that the Guarantor shall be liable as principal and as debtor
hereunder to make Guarantee Payments pursuant to the terms of this Preferred
Securities Guarantee notwithstanding the occurrence of any event referred to in
subsections (a) through (h), inclusive, of Section 5.3 hereof.

VI        LIMITATION OF TRANSACTIONS; SUBORDINATION

          6.1 Limitation of Transactions.

          So long as any Preferred Securities remain outstanding, if there shall
have occurred an Event of Default under this Preferred Securities Guarantee, an
event of default under the Trust Agreement or during an Extended Interest
Payment Period (as defined in the Indenture), then (a) the Guarantor shall not
declare or pay any dividend on, make any distributions with respect to, or
redeem, purchase, acquire or make a liquidation payment with respect to, any of
its capital stock (other than as a result of a reclassification of its capital
stock for another class of its capital stock) and (b) the Guarantor shall not
make any payment of interest or principal on or repay, repurchase or redeem any
debt securities issued by the Guarantor which rank pari passu with or junior to
the Debentures other than payments under this Preferred Securities Guarantee.

          6.2 Ranking.

          This Preferred Securities Guarantee will constitute an unsecured
obligation of the Guarantor and will rank subordinate and junior in right of
payment to all Senior Debt, Subordinated Debt and Additional Senior Obligations,
as defined in the Indenture, of the Guarantor, to the extent and in the manner
set forth in the Indenture, and the applicable provisions of the Indenture will
apply, in all relevant respects, to the obligations of the Guarantor hereunder.

VII       TERMINATION

          7.1 Termination.

          This Preferred Securities Guarantee shall terminate upon (i) full
payment of the Redemption Price of all Preferred Securities, (ii) full payment
of the amounts payable in accordance with the Trust Agreement upon liquidation
of the Trust, or (iii) distribution of the Debentures to the Holders of the
Preferred Securities. Notwithstanding the foregoing, this Preferred Securities
Guarantee shall continue to be effective or shall be reinstated, as the case may
be, if at any time any Holder of Preferred Securities must restore payment of
any sums paid under the Preferred Securities or under this Preferred Securities
Guarantee.

                                       15
<PAGE>

VIII      INDEMNIFICATION

          8.1 Exculpation.

                    (a)       No Indemnified Person shall be liable, responsible
                              or accountable in damages or otherwise to the
                              Guarantor or any Covered Person for any loss,
                              damage or claim incurred by reason of any act or
                              omission performed or omitted by such Indemnified
                              Person in good faith in accordance with this
                              Preferred Securities Guarantee and in a manner
                              that such Indemnified Person reasonably believed
                              to be within the scope of the authority conferred
                              on such Indemnified Person by this Preferred
                              Securities Guarantee or by law, except that an
                              Indemnified Person shall be liable for any such
                              loss, damage or claim incurred by reason of such
                              Indemnified Person's negligence or willful
                              misconduct with respect to such acts or omissions.

                    (b)       An Indemnified Person shall be fully protected in
                              relying in good faith upon the records of the
                              Guarantor and upon such information, opinions,
                              reports or statements presented to the Guarantor
                              by any Person as to matters the Indemnified Person
                              reasonably believes are within such other Person's
                              professional or expert competence and who has been
                              selected with reasonable care by or on behalf of
                              the Guarantor, including information, opinions,
                              reports or statements as to the value and amount
                              of the assets, liabilities, profits, losses, or
                              any other facts pertinent to the existence and
                              amount of assets from which Distributions to
                              Holders of Preferred Securities might properly be
                              paid.

          8.2 Indemnification.

          The Guarantor agrees to indemnify each Indemnified Person for, and to
hold each Indemnified Person harmless against, any loss, liability or expense
incurred without negligence or bad faith on its part, arising out of or in
connection with the acceptance or administration of the trust or trusts
hereunder, including the costs and expenses (including reasonable legal fees and
expenses) of defending itself against, or investigating, any claim or liability
in connection with the exercise or performance of any of its powers or duties
hereunder. The obligation to indemnify as set forth in this Section 8.2 shall
survive the termination of this Preferred Securities Guarantee.

IX        MISCELLANEOUS

          9.1 Successors and Assigns.

          All guarantees and agreements contained in this Preferred Securities
Guarantee shall bind the successors, assigns, receivers, trustees and
representatives of the Guarantor and shall inure to the benefit of the Holders
of the Preferred Securities then outstanding.

                                       16
<PAGE>

          9.2 Amendments.

          Except with respect to any changes that do not materially adversely
affect the rights of Holders (in which case no consent of Holders will be
required), this Preferred Securities Guarantee may only be amended with the
prior approval of the Holders of at least a Majority in Liquidation Amount of
the Preferred Securities. The provisions of Article VI of the Trust Agreement
with respect to meetings of Holders of the Preferred Securities apply to the
giving of such approval.

          9.3 Notices.

          All notices provided for in this Preferred Securities Guarantee shall
be in writing, duly signed by the party giving such notice, and shall be
delivered, telecopied or mailed by registered or certified mail, as follows:

                    (a)       If given to the Guarantee Trustee, at the
                              Guarantee Trustee's mailing address set forth
                              below (or such other address as the Guarantee
                              Trustee may give notice of to the Holders of the
                              Preferred Securities):

                              Wilmington Trust Company
                              Rodney Square North
                              1100 North Market Street
                              Wilmington, Delaware  19890-0001
                              Attention:  Corporate Trust Administration

                    (b)       If given to the Guarantor, at the Guarantor's
                              mailing address set forth below (or such other
                              address as the Guarantor may give notice of to the
                              Holders of the Preferred Securities):

                              Second Bancorp Incorporated
                              108 Main Avenue, S.W.
                              P.O. Box 1311
                              Warren, OH  44482-1311
                              Attention:  Chief Financial Officer

                    (c)       If given to any Holder of Preferred Securities, at
                              the address set forth on the books and records of
                              the Trust.

          All such notices shall be deemed to have been given when received in
person, telecopied with receipt confirmed, or mailed by first class mail,
postage prepaid except that if a notice or other document is refused delivery or
cannot be delivered because of a changed address of which no notice was given,
such notice or other document shall be deemed to have been delivered on the date
of such refusal or inability to deliver.

                                       17
<PAGE>

          9.4 Benefit.

          This Preferred Securities Guarantee is solely for the benefit of the
Holders of the Preferred Securities and, subject to Section 3.1(a), is not
separately transferable from the Preferred Securities.

          9.5 Governing Law.

          THIS PREFERRED SECURITIES GUARANTEE SHALL BE GOVERNED BY, AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF OHIO.

          This Preferred Securities Guarantee is executed as of the day and year
first above written.

SECOND BANCORP INCORPORATED, as Guarantor

By:  /s/ Christopher Stanitz
   --------------------------------------------
Its: Executive Vice President & Secretary
    -------------------------------------------

WILMINGTON TRUST COMPANY,
     as Guarantee Trustee

By:  /s/ James P. Lawler
   --------------------------------------------
Its: Vice President
    -------------------------------------------

                                       18<PAGE>
                                                                     Exhibit 4.2

                      FOURTH AMENDMENT TO CREDIT AGREEMENT
                      ------------------------------------

         THIS FOURTH AMENDMENT TO CREDIT AGREEMENT (this "Amendment"), dated as
of November 12, 2001 (the "Fourth Amendment Effective Date"), is by and among
CORRPRO COMPANIES, INC., an Ohio corporation (the "Company"), CSI COATING
SYSTEMS INC. (the "Canadian Borrower" and, together with the Company, the
"Borrowers"), the lenders set forth on the signature pages hereof (collectively,
the "Lenders") and BANK ONE, MICHIGAN, a Michigan banking corporation, as agent
for the Lenders (in such capacity, the "Agent").

                                    RECITALS

         A. The Borrowers, the Agent and the Lenders are parties to an Amended
and Restated Credit Agreement dated as of June 9, 2000 (as now and hereafter
amended, the "Credit Agreement"), pursuant to which the Lenders agreed, subject
to the terms and conditions thereof, to extend credit to the Borrowers.

         B. The Credit Agreement was amended by a First Amendment to Credit
Agreement dated as of October 19, 2000 (the "First Amendment") among the
Borrowers, the Lenders and the Agent, pursuant to which the parties agreed to
modify certain terms and conditions of the extension of credit to the Borrowers.

         C. Prior to May 29, 2001, certain Defaults occurred under the Credit
Agreement due to breaches of Sections 6.19.1 and 6.19.2 of the Credit Agreement
as of the fiscal quarter ending March 31, 2001 (the "Existing Defaults"). Based
upon the request of the Borrowers and the Guarantors, the Agent and the Lenders
temporarily waived the Existing Defaults subject to the terms and conditions set
forth in a certain letter dated May 29, 2001 (the "Waiver Letter").

         D. Prior to the expiration of the temporary waiver set forth in the
Waiver Letter, the Borrowers requested, notwithstanding the occurrence of the
Existing Defaults, that the Agent and the Lenders (i) continue to advance
Revolving Credit Loans to the Borrowers under certain modified terms and
conditions of lending, (ii) extend the waiver of the Existing Defaults and (iii)
forbear from exercising remedies available under the Loan Documents or at law or
in equity, all in order to (a) permit the Borrowers to develop and implement a
business plan and financial strategy to improve their business operations and
financial condition and (b) permit the Borrowers to develop and implement a
potential financial restructuring plan and strategy that would address, inter
alia, repayment of the indebtedness owed to the Lenders. Pursuant to such
request, the Credit Agreement was further amended by a Second Amendment to
Credit Agreement dated as of June 29, 2001 (the "Second Amendment") among the
Borrowers, the Lenders and the Agent. The Second Amendment, among other things,
granted to the Borrowers a "Restructuring Period" during which the Borrowers
would be permitted to develop and implement their business improvement and
financial restructuring plan.

         E. Prior to August 10, 2001, the Borrowers requested that the Agent and
the Lenders extend the Facility Termination Date and agree to certain other
modifications to the provisions of the Credit Agreement. Pursuant to such
request, the Credit Agreement was further amended by a Third Amendment to Credit
Agreement dated as of August 10, 2001 (the "Third Amendment") among the
Borrowers, the Lenders and the Agent.

<PAGE>

         F. The Credit Agreement (as modified by the First Amendment, the Second
Amendment and the Third Amendment), all promissory notes executed by either
Borrower in favor of the Agent and/or the Lenders, and any and all of the
Collateral Documents executed by any Loan Party (including without limitation
all Security Agreements, Mortgages, Guaranties, pledges of stock and other
instruments, documents or agreements of any kind evidencing or securing the
indebtedness of either Borrower in favor of the Lenders) are sometimes referred
to collectively as the "Loan Documents."

         G. The Borrowers have requested that the Agent and the Lenders further
extend the Facility Termination Date. Additionally, the Borrowers have requested
that the Agent and the Lenders continue to permit the Borrowers to develop and
implement their business improvement and financial restructuring plan under the
terms and conditions set forth in this Amendment.

         H. Based upon the foregoing recitals, and without waiving any existing
or future rights or remedies which the Agent and/or the Lenders may have against
the Borrowers or any Guarantor, the Agent and the Lenders are willing to amend
the terms of the Credit Agreement (including the Second Amendment and the Third
Amendment) under the terms and conditions expressly set forth herein.

                                      TERMS

         In consideration of the premises and of the mutual agreements herein
contained, the parties agree as follows:

                                   ARTICLE 1.
                      DEFAULT AND RESTRUCTURING PROVISIONS
                      ------------------------------------

     1.1 AFFIRMATION OF RECITALS. The Borrowers and the Guarantors hereby
acknowledge and affirm the accuracy of the foregoing recitals.

     1.2 RESTRUCTURING CONDITIONS. Section 1.3 of the Second Amendment set forth
certain "restructuring conditions" governing the Borrowers' implementation of
their business improvement and financial restructuring plan. Such "restructuring
conditions" were amended and restated in Section 1.2 of the Third Amendment and
are hereby further amended and restated in their entirety as set forth below in
this Section 1.2. Nothing contained herein, however, shall be deemed to modify
or retract the terms and conditions that were applicable under the Second
Amendment and/or the Third Amendment during the period from and including the
Second Amendment Effective Date through and including the date immediately
preceding the Fourth Amendment Effective Date. All actions performed by or on
behalf of the Borrowers during such period in furtherance of their obligations
under the Second Amendment and/or the Third Amendment are hereby confirmed and
ratified, and the Agent and the Lenders shall be entitled to retain the full
benefit of such performance. There shall be no disgorgement, refund or
rescission with respect to any payment made by or on behalf of the Borrowers and
received by the Agent or the Lenders pursuant to the terms of the Second
Amendment and/or the Third Amendment. Except to the extent expressly modified by
the terms set forth below, each of the terms and conditions set forth in the
Second Amendment and/or the Third Amendment is hereby confirmed and ratified and
shall remain in full force and effect as provided therein. From and after the
Fourth Amendment Effective Date, subject to strict compliance with the terms and
conditions set forth herein, the Lenders agree to forbear from enforcing their
rights and remedies based on the Existing Defaults while the Borrowers and their
consultants continue to develop and implement their plan for improvement of the
Borrowers' business and financial condition, provided that (i) the Lenders'
waiver of the Existing Defaults shall be solely in accordance with

                                        2
<PAGE>

the terms and conditions set forth in the Second Amendment and the Third
Amendment (as modified herein) and (ii) such agreement to forbear shall not
create a waiver of the right of the Agent or the Lenders, upon the occurrence of
a default hereunder or a Default (other than the Existing Defaults) under the
Loan Documents, to enforce available rights and remedies at any time, in their
sole discretion, in accordance with the Credit Agreement (as previously modified
and as modified herein) and the other Loan Documents. Absent an earlier default
hereunder or Default (other than the Existing Defaults) under the Loan
Documents, the period during which the Lenders shall forbear is from the Second
Amendment Effective Date through February 28, 2002 (the "Restructuring Period").
The Lenders' forbearance shall be governed by and subject to the following terms
and conditions:

                           a. The Borrowers shall keep the Agent, the Lenders
                  and their consultants apprised of the Borrowers' business and
                  financial operations and of any material discussions and
                  negotiations (other than discussions or negotiations in the
                  ordinary course of the Borrowers' business) pertaining to
                  lessors, vendors, suppliers, customers, other creditors, joint
                  venture partners or potential purchasers of any business
                  segments or significant assets of any Borrowers. Reports on
                  such matters shall be provided periodically and not less
                  frequently than monthly.

                           b. Notwithstanding any prior practice, the Borrowers
                  shall strictly comply with the financial reporting
                  requirements under the Loan Documents, as modified herein. In
                  addition to the reporting requirements set forth in Section
                  6.1 of the Credit Agreement (as modified herein), (i) not
                  later than Wednesday of each week during the Restructuring
                  Period, the Borrowers and their financial advisors will
                  deliver to the Agent and the Lenders, in form and detail
                  satisfactory to the Agent, weekly updates to the detailed
                  13-week rolling cash flow forecast as required under Section
                  4.4 of this Amendment; (ii) not later than the twentieth
                  (20th) day of each month during the Restructuring Period, the
                  Borrowers and their financial advisors will deliver to the
                  Agent and the Lenders, in form and detail satisfactory to the
                  Agent, (x) a summary of agings of accounts payable and
                  accounts receivable for the Borrowers as of the end of the
                  prior month, (y) a duly-executed Borrowing Base Certificate as
                  of the last Business Day of the prior month, together with
                  supporting information as required by the Credit Agreement,
                  and (z) a duly-executed Compliance Certificate with respect to
                  the cash flow restrictions set forth in subparagraph f below;
                  (iii) the Company shall, immediately upon receipt thereof,
                  deliver to the Agent copies of any correspondence, letters of
                  intent, agreements or similar documents pertaining in any
                  manner to any proposed sale or other disposition of any assets
                  of the Company or its Subsidiaries other than in the ordinary
                  course of business; and (iv) the Company shall provide to the
                  Agent, within five (5) business days following any request by
                  the Agent, a current listing of correct names and addresses of
                  account debtors (together with periodic updates to such
                  listing upon request by the Agent). If requested by the Agent,
                  the Borrowers promptly shall provide detailed backup for the
                  monthly summary of agings of accounts payable and accounts
                  receivable.

                           c. The Borrowers shall pay when due all amounts owed
                  to the Agent and the Lenders under the Loan Documents.

                           d. The aggregate outstanding amount of the Revolving
                  Credit Loans, together with the face amount of any Facility
                  LCs, shall not exceed the maximum amount described in Article
                  2 of the Second Amendment.

                           e. All representations and warranties made by the
                  Borrowers under the Second Amendment and under this Amendment
                  shall be true and correct.

                                       3
<PAGE>

                           f. (i) There shall be no change having a Material
                  Adverse Effect on the financial performance or condition of
                  the Borrowers as compared with the projections submitted to
                  and approved by the Agent and the Lenders in the Accepted
                  Forecast pursuant to Section 4.4 of this Amendment.

                              (ii) For each "Measuring Period" (defined below)
                  during the Restructuring Period, the actual cumulative "Net
                  Cash Flow" (defined below) of the Company and its domestic
                  Subsidiaries on a consolidated basis during such Measuring
                  Period shall equal or exceed the projected cumulative Net Cash
                  Flow for such Measuring Period as set forth in the Accepted
                  Forecast, within a negative variance of $1,500,000 for each
                  Measuring Period. The term "Net Cash Flow" shall mean the
                  excess (if any) of the consolidated aggregate cash receipts of
                  the Company and its domestic Subsidiaries during the relevant
                  period (excluding (a) any advances of Loans under the Credit
                  Agreement and (b) the amount of Net Cash Proceeds generated by
                  any transaction and distributed to the Lenders as required by
                  the Credit Agreement) compared to the consolidated aggregate
                  cash disbursements of the Company and its domestic
                  Subsidiaries during such period for operating expenses, taxes
                  and debt service (but excluding principal repayments and
                  interest payments to the Lenders and to the Noteholders), all
                  as shown on the reports required pursuant to Section 4.4 of
                  this Amendment and prepared in a manner consistent with the
                  presentation set forth in the Accepted Forecast. The
                  cumulative Net Cash Flow of the Company and its domestic
                  Subsidiaries shall be measured as of the end of each calendar
                  month, for the cumulative period commencing July 1, 2001 and
                  ending on the last day of each successive month (each a
                  "Measuring Period") (i.e., the first Measuring Period shall be
                  a one-month period commencing July 1, 2001 and ending July 31,
                  2001, the second Measuring Period shall be a two-month period
                  commencing July 1, 2001 and ending August 31, 2001, etc.).

                              (iii) The Borrowers shall not, absent the prior
                  written consent of the Required Lenders, (a) disburse any
                  funds for purposes other than those set forth in the Accepted
                  Forecast or (b) disburse any funds in an amount that would
                  cause a violation of the net cash flow restrictions set forth
                  above, and shall not in any event disburse any funds in a
                  manner inconsistent with any other restrictions set forth in
                  this Amendment or the Loan Documents.

                           g. The Company will not permit the Consolidated
                  EBITDA of the Company and its Subsidiaries (less the sum of
                  (w) the fee required under subparagraph 1.3t of the Second
                  Amendment, subparagraph 1.2t of the Third Amendment and
                  subparagraph t below, (x) any fee required under the amendment
                  referenced in Section 5.10(g) of the Second Amendment, Section
                  5.9(h) of the Third Amendment and Section 5.9(h) hereof, (y)
                  any fees and disbursements of professionals retained by the
                  Agent, the Lenders or the Noteholders for which the Company is
                  responsible to reimburse the Agent or the Lenders and (z) any
                  fees and disbursements incurred by the Company during the
                  Restructuring Period, up to a maximum of $500,000, to any
                  lawyer or consultant referenced in subparagraph q below) to be
                  less than (i) $6,687,000 for the four consecutive fiscal
                  quarters ending June 30, 2001, (ii) $8,628,000 for the four
                  consecutive fiscal quarters ending September 30, 2001, (iii)
                  $8,860,000 for the four consecutive fiscal quarters ending
                  December 31, 2001, (iv) $14,598,000 for the four consecutive
                  fiscal quarters ending March 31, 2002, (v) $15,372,900 for the
                  four consecutive fiscal quarters ending June 30, 2002, or (vi)
                  $15,402,000 for the four consecutive fiscal quarters ending
                  September 30, 2002.

                                       4
<PAGE>

                           h. No action or proceeding shall be commenced against
                  any Borrower that would, if adversely determined, cause a
                  Material Adverse Effect or prevent, impair or delay the
                  completion of the Borrowers' business improvement plan. With
                  respect to those actions or proceedings currently pending (as
                  listed on Schedule 1.2h hereof), there shall be no event that
                  would cause a Material Adverse Effect or prevent, impair or
                  delay the completion of the Borrowers' business improvement
                  plan.

                           i. Absent prior approval on behalf of the Agent and
                  the Lenders, no Borrower shall (i) file with any bankruptcy
                  court or be the subject of any petition under title 11 of the
                  United States Code (the "Bankruptcy Code"), (ii) be the
                  subject of any order for relief issued under the Bankruptcy
                  Code, (iii) file or be the subject of any petition seeking any
                  liquidation, reorganization, adjustment, protection,
                  arrangement, composition, dissolution or similar relief under
                  any present or future federal or state act or law relating to
                  bankruptcy, insolvency, reorganization or other relief for
                  debtors, (iv) have sought or consented to or acquiesced in the
                  appointment of any receiver, trustee, conservator, liquidator,
                  custodian or other similar official, or (v) be the subject of
                  any order, judgment or decree entered by any court of
                  competent jurisdiction approving a petition filed against such
                  party for any liquidation, reorganization, adjustment,
                  protection, arrangement, composition, dissolution or similar
                  relief under any present or future federal or state act or law
                  relating to bankruptcy, insolvency, reorganization or other
                  relief for debtors.

                           j. The Agent, the Lenders or their representatives or
                  consultants shall be permitted to conduct field examinations
                  of the Company and its Subsidiaries and audits of any
                  collateral securing the obligations of the Borrowers to the
                  Lenders. The Borrowers shall compensate the Agent or the
                  Lenders for such audits in accordance with the Agent's or each
                  Lender's schedule of fees, as applicable, and as such
                  schedules may be amended from time to time. The foregoing
                  permission to conduct audits shall not restrict or impair the
                  right of the Agent or the Lenders to inspect the collateral
                  and any records pertaining thereto at such times and at such
                  intervals as the Agent or the Required Lenders may require.
                  Further, the Borrowers acknowledge and agree that the Agent,
                  on behalf of itself and the Lenders, reserves the right to
                  engage the services of one or more appraisers to evaluate the
                  properties of the Company and its Subsidiaries. The Borrowers
                  acknowledge their responsibility to reimburse the Agent for
                  the fees and disbursements incurred by such parties in
                  connection with such engagements.

                           k. Neither the Company nor any of its Subsidiaries
                  shall take any action or fail to take any action within its
                  reasonable control that would cause a material adverse change
                  in the ability of the Company and its Subsidiaries to obtain
                  supplies or other assets to continue their operations. Upon
                  the occurrence of any event not within the reasonable control
                  of the Company or its Subsidiaries that would cause a material
                  adverse change in the ability of the Company and its
                  Subsidiaries to obtain supplies or other assets to continue
                  their operations, the Company shall immediately initiate and
                  diligently complete such actions as may be necessary to avoid
                  any impairment or delay in the operations of the Company and
                  its Subsidiaries.

                           l. Notwithstanding anything in the Credit Agreement
                  to the contrary (including without limitation the provisions
                  of Section 6.11 of the Credit Agreement), during the
                  Restructuring Period, absent the prior written consent of the
                  Required Lenders, the Company shall not, and shall not permit
                  or cause any of its Subsidiaries to, create, incur, assume or
                  suffer to exist any Indebtedness other than Indebtedness as
                  permitted under subsections 6.11(i), (ii), (iii), (iv), (v),
                  (vii) and (viii) of the Credit Agreement (with respect

                                       5
<PAGE>

                  to clause (vii), only to the extent that such Indebtedness is
                  in existence immediately prior to the Fourth Amendment
                  Effective date as described in Schedule 1.2l, provided that no
                  increase in the amount thereof shall be permitted).

                           m. During the Restructuring Period, absent the prior
                  written consent of the Required Lenders, the Company shall
                  not, and shall not permit or cause any of its Subsidiaries to,
                  create, incur or suffer to exist any Lien other than Liens as
                  permitted under Section 6.15 of the Credit Agreement.

                           n. Notwithstanding anything in the Credit Agreement
                  to the contrary (including without limitation the provisions
                  of Section 6.13 of the Credit Agreement), during the
                  Restructuring Period, neither the Company nor any of its
                  Subsidiaries shall agree to or consummate the sale,
                  assignment, lease, conveyance, transfer or other disposition
                  of any of its assets, except for (i) sales of inventory in the
                  ordinary course of business, (ii) the disposition in the
                  ordinary course of business of assets no longer required for
                  business operations, provided that such assets shall not have
                  a value exceeding $10,000 per item and $300,000 in the
                  aggregate on a cumulative basis during the Restructuring
                  Period, or (iii) the disposition of other assets under terms
                  approved by the Required Lenders as evidenced by the prior
                  written consent of the Agent (provided that such consent shall
                  require the approval of all of the Lenders in the event of any
                  proposed disposition of all or substantially all of the
                  Collateral).

                           o. Notwithstanding anything in the Credit Agreement
                  to the contrary (including without limitation the provisions
                  of Sections 6.12 and 6.14 of the Credit Agreement), during the
                  Restructuring Period, absent the consent of the Required
                  Lenders, neither the Company nor any of its Subsidiaries shall
                  agree to or consummate, or make or suffer to exist, any
                  Investment or Acquisition, or extend credit to any other
                  Person, or extend any credit to any other Person, or enter
                  into any merger or consolidation, or enter into any similar
                  business arrangement or combination, except for transactions
                  permitted under subsections 6.14 (i) and (ii) of the Credit
                  Agreement (with respect to clause (ii), only to the extent in
                  existence immediately prior to the Fourth Amendment Effective
                  Date).

                           p. Notwithstanding anything in the Credit Agreement
                  to the contrary, during the Restructuring Period neither the
                  Company nor any of its Subsidiaries shall advance any loans or
                  credit to any officer, director, stockholder or other
                  Affiliate of the Company or any of its Subsidiaries, or
                  otherwise enter into any similar transaction (provided that
                  the Company may continue to implement intercompany
                  transactions with its Wholly-Owned Subsidiaries consistent
                  with past practice), nor shall the Company or any of its
                  Subsidiaries forgive or defer any payment of principal or
                  interest with respect to any existing loan or advance to any
                  such officer, director, stockholder or other Affiliate.

                           q. The Borrowers shall continue to engage for at
                  least the duration of the Restructuring Period, at the
                  Borrowers' sole cost and expense, one or more financial
                  consultants acceptable to the Agent and the Required Lenders.
                  The scope of the engagement of any financial consultants shall
                  be acceptable to the Agent and the Required Lenders.

                           r. Notwithstanding anything in the Credit Agreement
                  to the contrary (including without limitation the provisions
                  of Sections 6.10 of the Credit Agreement), during the
                  Restructuring Period, absent the prior written consent of the
                  Required Lenders, the Company shall not, and shall not permit
                  or cause any of its Subsidiaries to declare or pay any
                  dividends or make any distributions on its Capital Stock or
                  redeem, repurchase or

                                       6
<PAGE>

                  otherwise acquire or retire any of its Capital Stock, provided
                  that any Subsidiary may continue to declare and pay dividends
                  or make distributions to the Company or to a Wholly-Owned
                  Subsidiary consistent with past practice.

                           s. During the Restructuring Period, neither the
                  Company nor any of its Subsidiaries shall pay any
                  discretionary bonus or similar compensation award to any of
                  their respective officers or employees except pursuant to a
                  comprehensive plan approved by the Required Lenders. The
                  preceding sentence shall not limit the right of the Company or
                  its Subsidiaries to pay any bonus (i) required under any
                  written employment agreement, incentive plan or similar
                  "guaranteed" bonus plan in existence immediately prior to the
                  Second Amendment Effective Date or (ii) negotiated as part of
                  a recruitment "signing bonus" consistent with past practice.
                  Upon request, the Company shall deliver to the Lenders and the
                  Agent copies of any applicable employment agreements,
                  incentive plans or similar "guaranteed" bonus plans.

                           t. Upon execution of this Amendment, the Company
                  shall pay to the Agent, for the benefit of the Lenders, an
                  amendment fee in the amount of $100,000.00.

                           u. Commencing on the Second Amendment Effective Date
                  and thereafter, there shall be no principal payments made to
                  the Noteholders in respect of the Noteholder Obligations
                  unless, simultaneously with the making of any such payment,
                  the Borrowers pay to the Lenders the "Reduction Amount" (as
                  such term is defined in Article 2 of the Second Amendment).
                  Upon payment to the Lenders of the Reduction Amount, the
                  Borrowing Base and the Aggregate Commitments shall be
                  permanently reduced by such amount, which may not be
                  reborrowed.

                           v. Notwithstanding anything in the Credit Agreement
                  to the contrary, the Borrowers shall not, and shall not permit
                  any Subsidiary to, make any Capital Expenditures that exceed
                  in the aggregate for the Borrowers and their Subsidiaries (a)
                  $1,750,000 during the fiscal year ending March 31, 2002, or
                  (b) $1,000,000 during the six-month period ending September
                  30, 2002.

                           w. There shall be no other Default or Unmatured
                  Default under the Credit Agreement (as modified herein) or the
                  other Loan Documents (except for the Existing Defaults
                  expressly acknowledged and waived in this Amendment through
                  the effective date hereof).

Notwithstanding the provisions of this Section 1.2, all indebtedness of the
Borrowers to the Lenders shall be due and payable on demand in the discretion of
the Required Lenders upon expiration or termination of the Restructuring Period
as provided in Section 1.6 hereof or any failure of any one or more of the
conditions set forth in this Section 1.2. Further, any failure of any one or
more of the conditions set forth in this Section 1.2 shall constitute a Default
under the Loan Documents (without the necessity of any notice or cure period).

     1.3 NO COURSE OF DEALING; REVIEW OF THE BORROWERS' BUSINESS PLAN. The
Borrowers and the Guarantors acknowledge and agree that notwithstanding any
course of dealing between the Borrowers and the Lenders prior to the date
hereof, the Lenders shall have no obligation to make Loans to the Borrowers
outside of the strict conditions and requirements of the Credit Agreement (as
modified herein) nor to forbear from exercising available remedies except as
expressly set forth herein. Notwithstanding any past practice, the Borrowers and
the Guarantors agree that (i) the Agent and the Lenders shall not be obligated
or expected to honor any "overdrafts" or items for which funds of the Borrowers
are not immediately available, and (ii) the Agent and the Lenders shall not be
obligated or expected to provide

                                       7
<PAGE>

any credit references on behalf of the Borrowers, and any inquiries in this
regard may be referred back to the Borrowers or their advisors. The Agent and
the Lenders shall be under no obligation whatsoever to consent to the Borrowers'
updated and revised business plan as the same may be further revised from time
to time, and instead the Agent's and the Lenders' consideration of the
Borrowers' updated and revised business plan shall be undertaken by the Agent
and the Lenders in their sole and absolute discretion. The Agent's and the
Lenders' consideration of the Borrowers' updated and revised business plan shall
be without prejudice to (i) the possibility that the Agent or the Lenders may
conclude that such business plan, as further revised from time to time, does not
adequately address the Borrowers' defaults under the Loan Documents and/or the
potential erosion of collateral supporting the Borrowers' indebtedness to the
Lenders, or (ii) the right of the Agent or the Lenders, in accordance with the
terms hereof, to exercise rights or remedies available due to defaults under the
Loan Documents (as modified herein).

     1.4 DEFAULTS. In addition to any events of default specified in the Loan
Documents, the following shall constitute a Default under this Amendment and
under the Loan Documents:

         a. Any Borrower or any Guarantor shall fail to comply with, perform or
observe any term, condition, covenant or agreement set forth in this Amendment;

         b. Any representation or warranty of Borrowers or Guarantors contained
in this Amendment shall be untrue in any material respect when made or shall,
during the term of this Amendment, become impaired, untrue or misleading;

         c. With the exception of the Existing Defaults waived as set forth in
the Second Amendment, the occurrence of any new or further violation of the
sections of the Credit Agreement implicated by any of the Existing Defaults;

         d. The occurrence of any default under the Senior Note Agreement;

         e. Any further change having a Material Adverse Effect shall occur in
business, properties, operations or condition (financial or otherwise) of any
Borrower or any Guarantor; or

         f. The Aggregate Total Outstandings of all Lenders shall on any date
exceed the Borrowing Base as of such date, and the Borrowers shall fail to pay
on such date not less than the amount of such excess for application against the
Aggregate Total Outstandings.

     1.5 EXPIRATION; NO FURTHER EXTENSION IMPLIED. The Borrowers and the
Guarantors acknowledge that the Agent and the Lenders have no obligation to
extend the term of the Restructuring Period or further extend the Facility
Termination Date, or forbear from enforcing their rights and remedies before the
end of the Restructuring Period in the event of any failure of any one or more
of the terms and conditions expressed herein, that no course of dealing that
would permit arguing for further extensions contrary to the Lenders' wishes
exists or is capable of being inferred, and that nothing contained herein or
otherwise is intended to be a promise or agreement to continue to extend the
term of the Restructuring Period beyond February 28, 2002 or the Facility
Termination Date beyond October 31, 2002 or to extend any further credit to the
Borrowers. Furthermore, no future agreement by the Agent and the Lenders to
continue to extend the term of the Restructuring Period beyond February 28, 2002
or the Facility Termination Date beyond October 31, 2002 or any other agreement
shall be valid or enforceable unless it is contained in a final written
agreement signed by authorized representatives of the Agent and the Required
Lenders (or, to the extent required by Section 8.2 of the Credit Agreement, all
of the Lenders). Preliminary understandings or agreements on one or more issues
during the course of any negotiations and prior to the finalization thereof
shall not be binding unless and until such a final written agreement is executed
on behalf of the applicable parties.

                                       8
<PAGE>

     1.6 REMEDIES UPON DEFAULT OR TERMINATION. The Restructuring Period shall
expire automatically upon the earlier to occur of (a) a further Default or a
default under this Amendment or any document or agreement comprising the Loan
Documents, and without notice or an opportunity to cure such Default or default
under this Amendment, or (b) February 28, 2002 in the absence of a further
written agreement among the Borrowers, the Agent and the Required Lenders
pertaining to the repayment of the Borrowers' obligations. Upon the expiration
of the Restructuring Period and in the absence of (i) a further written
agreement among the Borrowers, the Agent and the Required Lenders pertaining to
the repayment of the Borrowers' obligations or (ii) the Borrowers then being in
full compliance with all provisions of the Loan Documents (as amended by this
Amendment but without the benefit of any waiver of defaults except as expressly
provided in Section 5.3 of the Second Amendment), upon the election of the
Required Lenders but without further notice, all of the Borrowers' obligations
to the Lenders shall be immediately due and payable (to the extent not already
due and payable), all undertakings of the Agent and the Lenders hereunder,
including without limitation the Agent's and the Lenders' forbearance, shall
terminate without notice to the Borrowers and without the requirement of any
further action by or on behalf of the Agent or the Lenders, the waiver of the
Existing Defaults as set forth in the Second Amendment shall be deemed rescinded
ab initio, and the Agent or the Lenders shall have the right to exercise any
remedies provided in this Amendment or any of the Loan Documents, or under
applicable law or in equity. All rights and remedies of the Agent and the
Lenders shall be cumulative and not exclusive, and the Agent or the Lenders
shall be entitled to pursue one or more rights and/or remedies simultaneously or
sequentially without the necessity of an election of remedies.

     1.7 RESERVATION OF RIGHTS; NO WAIVER BY CONDUCT. The Second Amendment, as
modified by the Third Amendment and as further modified by this Amendment,
grants a limited forbearance until February 28, 2002 only, or until an earlier
Default, upon the terms and conditions set forth in the Second Amendment, the
Third Amendment and this Amendment. Excepting only the waiver of the Existing
Defaults as set forth in the Second Amendment, nothing herein shall be deemed to
constitute a waiver of any new Unmatured Defaults or Defaults of any other
provision of any of the documents referred to herein, and nothing herein shall
in any way prejudice the rights and remedies of the Agent and/or the Lenders
under any of the documents referred to herein or applicable law. Further, the
Agent and the Lenders shall have the right to waive any conditions set forth in
this Amendment and/or such documents, in their sole discretion, and any such
waiver shall not prejudice, waive or reduce any other right or remedy which the
Agent or the Lenders may have against the Borrowers or the Guarantors. No waiver
of the rights or any condition of this Amendment and/or any other document by
the Agent or the Lenders shall be effective unless the same shall be contained
in a writing signed by authorized representatives of the Agent or the Lenders,
as the case may be, in the manner required by Section 8.2 of the Credit
Agreement. No course of dealing on the part of the Agent or the Lenders, nor any
delay or failure on the part of the Agent or the Lenders in exercising any
right, power or privilege hereunder shall operate as a waiver of such right,
power or privilege, nor shall any single or partial exercise thereof preclude
any further exercise thereof or the exercise of any other right, power or
privilege.

     1.8 LIMITATIONS ON CERTAIN ADVANCES. Pursuant to Section 1.12 of the Second
Amendment, the Borrowers agreed that, notwithstanding the provisions of Sections
2.7 and 2.8 of the Credit Agreement, during the Restructuring Period (and,
absent a further written agreement among the Borrowers and the Lenders to the
contrary, thereafter until the Facility Termination Date) the Lenders would not
be obligated to advance any Eurocurrency Loan and the Borrowers would not
request new Eurocurrency Advances, and that any existing Eurocurrency Loans
would, at the end of the applicable Interest Period therefor, automatically be
converted into a Floating Rate Loan. The Borrowers have now requested the
ability to obtain Eurocurrency Advances on a limited basis. Based upon such
request, the Lenders agree that, from and after the Fourth Amendment Effective
Date, the Borrowers may request Eurocurrency Advances pursuant to Sections 2.3,
2.7 and 2.8 of the Credit Agreement, provided that, with

                                       9
<PAGE>

respect to any such Eurocurrency Advance, (a) the Applicable Margin for purposes
of calculating the Eurocurrency Rate shall, notwithstanding the Pricing Schedule
attached to the Credit Agreement as modified by the Second Amendment, be 5.00%
and (b) the Interest Period shall not exceed one month.

     1.9 SURVIVAL. All representations, warranties, covenants, agreements,
releases and waivers made by or on behalf of the Borrowers or any Guarantor
under this Amendment shall survive and continue after the expiration or
termination of the Restructuring Period.

                                   ARTICLE 2.
                                   AMENDMENTS
                                   ----------

     Effective as of the Fourth Amendment Effective Date, the Credit Agreement
shall be amended as follows:

     2.1 The definition of "Facility Termination Date" in Section 1.1 of the
Credit Agreement is restated in its entirety as follows:

                  "Facility Termination Date" means October 31, 2002, or any
                  earlier date on which the Aggregate Commitment is reduced to
                  zero or otherwise terminated pursuant to the terms hereof.

     2.2 A new definition of "Fourth Amendment Effective Date" is added to
Section 1.1 of the Credit Agreement in appropriate alphabetical order, stating
as follows:

                  "Fourth Amendment Effective Date" shall mean November 12,
                  2001.

     2.3 The Aggregate Commitments shall be reduced to $40,000,000 as of the
Fourth Amendment Effective Date. Schedule 1.1 annexed to the Credit Agreement is
amended and restated by substituting therefor Schedule 1.1 annexed to this
Amendment, showing the respective Canadian Commitments and U.S. Commitments of
each Lender as of the Fourth Amendment Effective Date, and the corresponding
definitions in Section 1.1 of the Credit Agreement for "Aggregate Canadian
Commitments," "Aggregate Commitments," "Aggregate U.S. Commitments," "Canadian
Commitment," "Commitment" and "U.S. Commitment" shall be modified accordingly.

     2.4 Section 6.19 of the Credit Agreement, as previously amended by the
Second Amendment and the Third Amendment, is further amended by deleting
Sections 6.19.1 and 6.19.2 and inserting the following in place thereof:

                  6.19.1 CONSOLIDATED FIXED CHARGE COVERAGE RATIO. The Company
         will not permit the Consolidated Fixed Charge Coverage Ratio of the
         Company and its Subsidiaries, determined as of the end of each of its
         fiscal quarters to be less than (i) 0.75 to 1.0 for the quarter ending
         June 30, 2001, (ii) 0.87 to 1.0 for the quarter ending September 30,
         2001, (iii) 0.85 to 1.0 for the quarter ending December 31, 2001, (iv)
         1.18 to 1.0 for the quarter ending March 31, 2002, (v) 1.10 to 1.0 for
         the quarter ending June 30, 2002 and (vi) 1.05 to 1.0 for the quarter
         ending September 30, 2002.

                  6.19.2 LEVERAGE RATIO. The Company will not permit the
         Consolidated Leverage Ratio of the Company and its Subsidiaries,
         determined as of the end of each of its fiscal quarters, to be greater
         than (i) 9.82 to 1.0 for the period ending June 30, 2001,

                                       10
<PAGE>
         (ii) 8.12 to 1.0 for the period ending September 30, 2001, (iii) 7.83
         to 1.0 for the period ending December 31, 2001, (iv) 4.08 to 1.0 for
         the period ending March 31, 2002, (v) 4.19 to 1.0 for the period
         ending June 30, 2002 and (vi) 4.14 to 1.0 for the period ending
         September 30, 2002.

                                   ARTICLE 3.
                                 REPRESENTATIONS
                                 ---------------

         Each Borrower represents and warrants to the Agent and the Lenders
that:

     3.1 The execution, delivery and performance by it of this Amendment are
within its powers, have been duly authorized by all necessary action and are not
in contravention with any law, rule or regulation, or any judgment, decree,
writ, injunction, order or award of any arbitrator, court or governmental
authority, of the terms of its Articles of Incorporation or By-laws, or any
contract or undertaking to which it is a party or by which it or its property is
or may be bound.

     3.2 This Amendment is its legal, valid and binding obligation, enforceable
against it in accordance with the terms hereof.

     3.3 No consent, approval or authorization of or declaration, registration
or filing with any governmental authority or any nongovernmental person or
entity, including, without limitation, any of its creditors or stockholders, is
required on its part in connection with the execution, delivery and performance
of this Amendment or as a condition to the legality, validity or enforceability
of this Amendment.

     3.4 After giving effect to the amendments herein contained, the
representations and warranties contained in Article V of the Credit Agreement
are true on and as of the date hereof with the same force and effect as if made
on and as of the date hereof.

                                   ARTICLE 4.
                      ADDITIONAL COVENANTS OF THE BORROWERS
                      -------------------------------------

         Each Borrower shall:

     4.1 Promptly perform and observe, and cause each Guarantor to perform and
observe, its respective obligations set forth in this Amendment.

     4.2 Cause each of the Guarantors to execute the Consent and Agreement at
the end of this Amendment.

     4.3 Upon request by the Agent, promptly prepare and deliver to the Agent
and the Lenders an updated and detailed business plan (which may consist of
updates and revisions to the plan submitted to the Lenders in May, 2001 and
September, 2001), viability analysis and financial strategy to improve the
Borrowers' business operations and financial condition, which plan and strategy
shall cover the period at least through October 31, 2002 and shall address,
inter alia, repayment of the indebtedness owed to the Lenders.

                                       11
<PAGE>

     4.4 Upon request by the Agent, promptly prepare and deliver to the Agent
and the Lenders an updated and detailed budget forecast for the remainder of the
Restructuring Period and thereafter through October 31, 2002, including
financial and cash flow projections based upon Borrowers' business improvement
plan, and such budget forecast and projections shall be acceptable to the
Required Lenders (upon such acceptance, such budget forecast and projections
shall be referred to as the "Accepted Forecast"). The cash flow projections
shall be based on a rolling thirteen (13) week period through March 31, 2002 and
on a monthly basis thereafter. Projected capital expenditures shall be shown in
the projections as a separate line item. Not later than Wednesday of each week
(commencing November 21, 2001), the Borrowers shall update all applicable line
items of the Accepted Forecast and cash flow projections to reflect actual
results from the prior week and on a cumulative basis, and shall prepare and
deliver to the Agent and the Lenders such update and a report of any variances
between actual results and the Accepted Forecast originally approved by the
Required Lenders.

     4.5 Promptly deliver to the Lenders such information as has previously been
requested in writing by the Lenders, the Agent or the Agent's financial
consultant.

     4.6 To the extent requested by the Agent and to the extent not cost
prohibitive (as determined by the Agent), promptly (within five (5) days after
such request) cause each of its Foreign Subsidiaries to execute and deliver to
the Agent one or more guarantees (in form and substance satisfactory to the
Agent) of the Borrowers' indebtedness in favor of the Lenders.

     4.7 To the extent requested by the Agent and to the extent not cost
prohibitive (as determined by the Agent), promptly (within five (5) days after
such request) cause each of its Foreign Subsidiaries to complete the execution
and delivery of the Collateral Documents as required by the Agent.

     4.8 Upon request by the Agent, promptly complete all matters required by
the Agent for full implementation of the dominion of funds arrangement between
the Borrowers and the Agent and otherwise cooperate with the implementation of
such arrangement.

     4.9 Promptly execute and deliver, and cause each Guarantor to execute and
deliver, such other documents as the Agent or the Lenders may reasonably
request.

                                   ARTICLE 5.
                                 MISCELLANEOUS.
                                 --------------

     5.1 CROSS REFERENCES. References in the Credit Agreement or in any note,
certificate, instrument or other document to the "Credit Agreement" shall be
deemed to be references to the Credit Agreement as amended hereby and as further
amended from time to time.

     5.2 EXPENSES AND COSTS. Each Borrower, jointly and severally, agrees to pay
and to save the Agent and the Lenders harmless for the payment of all fees,
out-of-pocket disbursements, and other costs and expenses incurred by or on
behalf of the Agent or any Lender arising in any way in connection with this
Amendment, or any other document relating to indebtedness described in the
recitals to this Amendment, including the fees and expenses of Dickinson Wright
PLLC, counsel to the Agent, and Jay Alix & Associates, Inc., consultant to the
Agent, and specifically including, without limitation, (a) the cost of any
financial audit or inquiry conducted by the Agent, any Lender or their
consultants, (b) the fees and expenses of counsel for the Agent or any Lender
for the work performed as a result of the Borrowers' defaults or financial
problems, and for the preparation, examination and approval of this Amendment or
any documents in connection with this Amendment, (c) for the payment of all fees
and out-of-pocket disbursements incurred

                                       12
<PAGE>

by the Agent or any Lender, including attorneys' fees, in any way arising from
or in connection with any action taken by the Agent or any Lender to monitor,
advise, enforce or collect the obligations described in the recitals hereto or
to enforce any obligations of the Borrowers or any Guarantor under this
Amendment or the other documents referred to herein, including any actions to
lift the automatic stay or to otherwise in any way participate in any
bankruptcy, reorganization or insolvency proceeding of any Borrower or Guarantor
or in any trial or appellate proceedings, and (d) any expenses or fees
(including attorneys' fees) incurred in relation to or in defense of any
litigation instituted by any Borrower, any Guarantor or any third party against
the Agent or any Lender arising from or relating to the obligations described in
the recitals hereto or this Amendment, including any so-called "lender
liability" action. All of these expenses and fees (including attorneys' fees)
shall be part of the Obligations owing under the Credit Agreement, and shall be
secured by all of the collateral described in the Collateral Documents. In the
event the Borrowers fail to pay any such fees, expenses and costs within five
(5) days of being invoiced therefor, the Agent or the Lenders, as the case may
be, shall be permitted to charge the accounts of any Borrower for such fees,
expenses and costs, without prejudice to any other rights or remedies of the
Agent or the Lenders. The rights and remedies of the Agent and the Lenders
contained in this paragraph shall be in addition to, and not in lieu of, the
rights and remedies contained in the Credit Agreement, the Collateral Documents
and as otherwise provided by law.

     5.3 RELEASE. Each Borrower and each Guarantor represents and warrants that
it is not aware of any claims or causes of action against the Agent or any
Lender, any participant lender or any of their successors or assigns, and that
it has no defenses, offsets or counterclaims with respect to the indebtedness
owed by the Borrowers to the Lenders. Notwithstanding this representation and as
further consideration for the agreements and understandings herein, the
Borrowers and Guarantors, on behalf of themselves and their respective
employees, agents, executors, heirs, successors and assigns, hereby release the
Agent and the Lenders, their respective predecessors, officers, directors,
employees, agents, attorneys, affiliates, subsidiaries, successors and assigns,
from any liability, claim, right or cause of action which now exists or
hereafter arises as a result of acts, omissions or events occurring on or prior
to the date hereof, whether known or unknown, including but not limited to
claims arising from or in any way related to the Credit Agreement or the
business relationship among the Borrowers, the Guarantors, the Agent and the
Lenders.

     5.4 PERFORMANCE BY LENDERS AND AGENT; NO AGENCY; BORROWERS REMAIN IN
CONTROL. Each Borrower and each Guarantor acknowledges and agrees that the Agent
and the Lenders have fully performed all of their obligations under the Credit
Agreement and all documents executed in connection with the Credit Agreement,
and that all actions taken by the Agent and the Lenders are reasonable and
appropriate under the circumstances and within their rights under the Credit
Agreement and all other documents executed in connection therewith and otherwise
available. The actions of the Agent and the Lenders taken pursuant to this
Amendment and the documents referred to herein are in furtherance of the efforts
of the Agent and the Lenders as secured lenders seeking to collect the
obligations owed to the Lenders. Nothing contained in this Amendment shall be
deemed to create a partnership, joint venture or agency relationship of any
nature among the Borrowers and the Lenders or the Agent. The Borrowers, the
Guarantors, the Agent and the Lenders agree that notwithstanding the provisions
of this Amendment, each Borrower remains in control of its business operations
and determines the business plans (including employment, management and
operating directions) for its business.

     5.5 ENTIRE AGREEMENT; SEVERABILITY. The Credit Agreement, as previously
amended and as amended by this Amendment, constitutes the entire understanding
of the parties with respect to the subject matter hereof and may only be
modified or amended by a writing signed by the party to be charged. If any
provision of this Amendment is in conflict with any applicable statute or rule
of law or otherwise unenforceable, such offending provision shall be null and
void only to the extent of such conflict or unenforceability, but shall be
deemed separate from and shall not invalidate any other provision of this
Amendment.

                                       13
<PAGE>

     5.6 NO OTHER PROMISES OR INDUCEMENTS. There are no promises or inducements
which have been made to any signatory hereto to cause such signatory to enter
into this Amendment other than those which are set forth in this Amendment. Each
Borrower and each Guarantor acknowledges that its authorized officers have
thoroughly read and reviewed the terms and provisions of this Amendment and are
familiar with same, that the terms and provisions contained herein are clearly
understood by the Borrower or Guarantor and have been fully and unconditionally
consented to by the Borrower or Guarantor, and that the Borrower or Guarantor
has had full benefit and advice of counsel of its own selection, or the
opportunity to obtain the benefit and advice of counsel of its own selection, in
regard to understanding the terms, meaning and effect of this Amendment, and
that this Amendment has been entered into by the Borrower and Guarantor freely,
voluntarily, with full knowledge, and without duress, and that in executing this
Amendment, the Borrower and Guarantor is relying on no other representations,
either written or oral, express or implied, made by any other party hereto, and
that the consideration hereunder received by the Borrower has been actual and
adequate.

     5.7 SUFFICIENCY OF RESTRUCTURING PERIOD. Each Borrower represents that: (a)
it has no intention to file or acquiesce in the filing of any bankruptcy or
insolvency proceeding hereafter, absent approval on behalf of the Agent and the
Lenders of such proceeding; and (b) the Restructuring Period and forbearance
allowed by the Second Amendment and the Third Amendment (as modified herein) are
sufficient for the Borrowers to accomplish the commitments they have undertaken
in the Second Amendment and the Third Amendment (as modified herein).

     5.8 RATIFICATION. The Borrowers agree that the Credit Agreement, the
Collateral Documents and all other documents and agreements executed by the
Borrowers or the Guarantors in connection with the Credit Agreement in favor of
the Agent, the Collateral Agent or any Lender are ratified and confirmed and
shall remain in full force and effect as amended hereby, and that there is no
set off, counterclaim or defense with respect to any of the foregoing. Terms
used but not defined herein shall have the respective meanings ascribed thereto
in the Credit Agreement.

     5.9 COUNTERPARTS; EFFECTIVENESS. This Amendment may be executed in any
number of counterparts with the same effect as if the signatures thereto and
hereto were upon the same instrument. Facsimile copies of signatures shall be
treated as original signatures for all purposes under this Amendment. This
Amendment shall become effective as of November 12, 2001 when each of the
following has been satisfied:

     (a) Receipt by the Agent of counterparts of this Amendment duly executed by
each Borrower and each Lender, and counterparts of the Consent and Agreement
annexed hereto duly executed by each Guarantor.

     (b) With respect to any interest, fees or other charges previously required
to be paid by either Borrower under the terms of any waiver letter, extension
letter, amendment or other agreement, receipt by the Agent of full payment of
such interest, fees or other charges.

     (c) Payment of the amendment fee required under this Amendment. In the
event such fee is not received immediately upon execution of this Amendment by
the Borrowers, the Agent is authorized at any time thereafter to charge the
Company's account(s) in the amount of such fee.

     (d) Receipt by the Agent of copies, certified by the Secretary or Assistant
Secretary of each Borrower and each Guarantor, of its Board of Directors'
resolutions and of resolutions or actions of any other body authorizing the
execution of this Amendment and all Collateral Documents to be executed in
connection herewith to which such Borrower or such Guarantor, as applicable, is
a party.

                                       14
<PAGE>

         (e) Receipt by the Agent of an incumbency certificate, executed by the
Secretary or Assistant Secretary of each Borrower and each Guarantor, which
shall identify by name and title and bear the signatures of the Authorized
Officers and any other officers of each Borrower and each Guarantor authorized
to sign this Amendment and all Collateral Documents to be executed in connection
herewith to which each Borrower and each Guarantor is a party, upon which
certificate the Agent and the Lenders shall be entitled to rely until informed
of any change in writing by such Borrower and such Guarantor.

         (f) Receipt by the Agent of a written opinion of the general counsel of
the Borrowers and the Guarantors, addressed to the Agent and Lenders and in form
and substance satisfactory to the Agent.

         (g) Receipt by the Agent of executed copies of all Collateral Documents
and other documents in connection therewith requested by the Agent, together
with all necessary consents and other related documents in connection therewith,
insurance certificates, financing statements, environmental reports, opinions of
foreign counsel, original stock certificates and related transfer powers, UCC,
judgment and other lien and encumbrance searches, title searches and insurance,
surveys and other documents required by the Agent, provided that certain items
may be delivered within 30 days of the date hereof pursuant to the terms of any
post closing letter agreement approved by the Agent.

         (h) The Company and the Noteholders shall have executed an amendment to
the Senior Note Agreement, which amendment shall be satisfactory in form and
substance to the Agent.

         (i) Delivery of such other agreements and documents, and the
satisfaction of such other conditions as may be reasonably required by the
Agent, including without limitation a solvency certificate of each Borrower, and
such evidence of the perfection and priority of all liens and security interests
as required by the Agent, all of which shall be satisfactory to the Agent and
its counsel to the extent required by the Agent.

     5.10 OTHER DOCUMENTS. Each Borrower and each Guarantor agrees to execute
and deliver any and all documents reasonably deemed necessary or appropriate by
the Agent or the Lenders to carry out the intent of and/or to implement this
Amendment.

     5.11 GOVERNING LAW. This Amendment shall be governed by and construed in
accordance with the laws of the State of Michigan without giving effect to
choice of law principles of such State.

     5.12 MISCELLANEOUS. This Amendment is made for the sole benefit and
protection of the Borrowers, the Agent and the Lenders and their respective
successors and permitted assigns (provided that the Borrowers shall not be
permitted, absent the prior written consent of all of the Lenders, to assign any
of their respective rights or obligations under this Amendment). No other person
or entity shall have any rights whatsoever under this Amendment. Time shall be
of the strictest essence in the performance of each and every one of the
Borrowers' obligations hereunder.

     5.13 CONSTRUCTION. This Amendment shall not be construed more strictly
against the Lenders or the Agent merely by virtue of the fact that the same has
been prepared by the Lenders and the Agent or their counsel, it being recognized
that the Borrowers, the Guarantors, the Agent and the Lenders have contributed
substantially and materially to the preparation of this Amendment, and each of
the parties hereto waives any claim contesting the existence and the adequacy of
the consideration given by any of the other parties hereto in entering into this
Amendment.

     5.14 HEADINGS. The headings of the various paragraphs in this Amendment are
for convenience of reference only and shall not be deemed to modify or restrict
the terms or provisions hereof.

                                       15
<PAGE>

     5.15 WAIVER OF JURY TRIAL; CONSENT TO JURISDICTION. (a) The Borrowers, each
Guarantor, each Lender and the Agent hereby specifically ratifies and confirms
the waiver of jury trial set forth in Section 16.2 of the Credit Agreement.
Without limiting the generality of the preceding ratification and confirmation,
the Borrowers, each Guarantor, each Lender and the Agent, after consulting or
having had the opportunity to consult with counsel, knowingly, voluntarily and
intentionally waives any right any of them may have to a trial by jury in any
litigation or proceeding based upon or arising out of this Amendment or any
related instrument or agreement or any of the transactions contemplated by this
Amendment or any conduct, dealing, statements (whether oral or written) or
actions of any of them. None of the Borrowers, the Guarantors, the Lenders or
the Agent shall seek to consolidate, by counterclaim or otherwise, any such
action in which a jury trial has been waived with any other action in which a
jury trial cannot be or has not been waived. These provisions shall not be
deemed to have been modified in any respect or relinquished by any party hereto
except by a written instrument executed by such party.

     (b) Each Borrower and each Guarantor agrees that any legal action or
proceeding with respect to this Amendment or any related instrument or
agreement, including the Credit Agreement as previously amended and as amended
hereby, or with respect to the transactions contemplated hereby, may be brought
in any court of the State of Michigan, sitting in or having jurisdiction over
the County of Wayne, Michigan, or in any federal court located within the
Eastern District of Michigan, and Borrowers and Guarantors hereby submit to and
accept generally and unconditionally the non-exclusive jurisdiction of those
courts with respect to their person and property and irrevocably consent to
service of process in connection with any such action or proceeding by mailing
such service of process (certified or registered, if capable of certification or
registration) to Borrowers and/or Guarantors at the address they may have from
time to time provided to the Agent. Borrowers and Guarantors hereby irrevocably
waive any objection based upon jurisdiction, improper venue or FORUM NON
CONVENIENS in any such suit or proceeding in the above-described courts. Nothing
contained herein shall limit the right of the Agent or the Lenders to serve
process in any other manner permitted by law or limit the right of the Agent or
the Lenders to commence any such action or proceeding in the courts of any other
jurisdiction. Any judicial proceeding by any Borrower or any Guarantor against
the Agent or any Lender involving this Amendment shall be brought only in a
court in Wayne County, Michigan or federal court located within the Eastern
District of Michigan.

                             [signatures next page]

                                       16
<PAGE>

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

                                    CORRPRO COMPANIES, INC.

                                    By:      /s/Kurt R. Packer
                                        -------------------------------

                                    Title:   Executive Vice President
                                           -------------------------------------

                                    CSI COATING SYSTEMS INC.

                                    By:      /s/Kurt R. Packer
                                        -------------------------------

                                    Title:   Authorized Signatory
                                           -------------------------------------

                                    BANK ONE, MICHIGAN, AS AGENT AND AS A LENDER

                                    By:      /s/Oliver J. Glenn
                                        ----------------------------------------

                                    Title:   First Vice President
                                           -------------------------------------

                                    PNC BANK, NATIONAL ASSOCIATION

                                    By:    /s/Lawrence E. Reynolds
                                        ----------------------------------------

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

                                    KEY BANK

                                    By:      /s/L. James Forshey
                                        ----------------------------------------

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

                                    FIRSTMERIT BANK

                                    By:      /s/Edward  Yannayon
                                        ----------------------------------------

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

                                       17
<PAGE>

                                    COMERICA BANK

                                    By:      /s/Brian Marshall
                                        -------------------------------

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

                                    FIFTH THIRD BANK, NORTHEASTERN OHIO

                                    By:    /s/David Williams
                                        ----------------------------------------

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

                                       18
<PAGE>

                       CONSENT AND AGREEMENT OF GUARANTORS
                       -----------------------------------

     As of the date and year first above written, each of the undersigned
hereby:

     (a) fully consents to the terms and provisions of the above Amendment and
the consummation of the transactions contemplated thereby and agrees to all
terms and provisions of the above Amendment applicable to it;

     (b) agrees that each Guaranty, Collateral Document and all other agreements
executed by any of the undersigned in connection with the Credit Agreement or
otherwise in favor of the Agent or the Lenders (collectively, the "Guarantor
Documents") are hereby ratified and confirmed and shall remain in full force and
effect, and each of the undersigned acknowledges that it has no setoff,
counterclaim or defense with respect to any Guarantor Document; and

     (c) acknowledges that its consent and agreement hereto is a condition to
the Lenders' obligation under this Amendment and it is in its interest and to
its financial benefit to execute this consent and agreement.

                                         GOOD-ALL ELECTRIC, INC.

                                         By:       Kurt R. Packer
                                             -----------------------------------

                                            Its:   Vice President
                                                --------------------------------

                                         BASS SOFTWARE, INC.

                                         By:       Kurt R. Packer
                                             -----------------------------------

                                            Its:   Vice President
                                                --------------------------------

                                         CATHODIC PROTECTION SERVICES
                                         COMPANY

                                         By:       Kurt R. Packer
                                             -----------------------------------

                                            Its:   Vice President
                                                --------------------------------

                                         OCEAN CITY RESEARCH CORP.

                                         By:       Kurt R. Packer
                                             -----------------------------------

                                            Its:   Vice President
                                                --------------------------------

                                       19
<PAGE>

                                         CCFC, INC.

                                         By:       Kurt R. Packer
                                             -----------------------------------

                                            Its:   Vice President
                                                --------------------------------

                                         ROHRBACK COSASCO SYSTEMS, INC.

                                         By:       Kurt R. Packer
                                             -----------------------------------

                                            Its:   Vice President
                                                --------------------------------

                                       20
<PAGE>

                                  SCHEDULE 1.1
                                  ------------

                                   COMMITMENTS
                                   -----------
                                 (IN US DOLLARS)

<TABLE>
<CAPTION>
     BANK                           U.S. COMMITMENT         CANADIAN COMMITMENT        TOTAL COMMITMENT          PRO-RATA SHARE
     ----                           ---------------         -------------------        ----------------          --------------
<S>                                   <C>                       <C>                       <C>                       <C>
Bank One, Michigan                    $2,350,000                $6,400,000                $8,750,000                21.875%

PNC Bank, National Association        $7,500,000                                          $7,500,000                18.750%

Key Bank                              $7,500,000                                          $7,500,000                18.750%

FirstMerit Bank, N.A.                 $7,500,000                                          $7,500,000                18.750%

Comerica Bank                         $5,000,000                                          $5,000,000                12.500%

Fifth Third Bank,                     $3,750,000                                          $3,750,000                 9.375%
Northeastern Ohio

TOTAL:                               $33,600,000                 $6,400,000              $40,000,000               100.000%
</TABLE>

                                       21

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00031-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00031-of-00352.parquet"}]]