Document:

EXHIBIT 10.28

                        T. LOVELOCK SEVERANCE AGREEMENT

                                                                    June 6, 2002

Thomas W. Lovelock
8 Northstone Rise
Pittsford, NY 14534

Dear Tom:

     This Letter will summarize the agreement between you and IEC Electronics
Corp. (the "Company") with respect to all issues relating to your cessation of
employment with the Company:

     1. You hereby resign your employment and all positions and offices with the
Company and its subsidiaries, including that of director, effective immediately.

     2.The Company will pay or provide to you the following amounts and
benefits:

     (a)Your full salary and benefits though August 20, 2002, the expiration
date of your Employment Agreement.

     (b) Additional severance payments in an aggregate amount equal to six (6)
months salary at your current annual rate; said payments will commence on
September 30, 2002 and will be payable in six (6) equal monthly installments on
the last day of the month, with the last installment to be paid on March 31,
2003. Notwithstanding the foregoing sentence, if at any time between the date
hereof and March 31, 2003 you receive compensation for services rendered in any
capacity, all such compensation shall be offset against the severance payments
due from the Company between September 30, 2002 and March 31, 2003. You agree to
promptly notify the Company of all such compensation. If the Company fails to
pay a severance payment installment within ten days after the due date, interest
will accrue on the unpaid amount of the severance payment at the rate of 18% per
annum.

     (c) You will continue to be provided with health, dental, life and
accident, death and disability insurance at Company expense through March 31,
2003. At that time, you will be provided with the option to continue coverage
pursuant to COBRA and applicable law.

     (d) Reimbursement for lease costs of your automobile through August 2002.

     (e) At your election, the Company will provide you with either (i)
outplacement services for a period of six (6) months at a cost not to exceed
$10,000 or (ii) the lease costs for the balance of the lease term on the
automobile. In the event you desire the outplacement services, and the auto
lessor will not accept a lease transfer, the Company will provide you with an
amount equal to the greater of the costs associated with (i) and (ii) above, and
you will determine the manner in which to apply the funds.

     3. The Company hereby releases you from the covenant not to compete
contained in Section 9 of your Employment Agreement dated as of August 11, 2000;
however, you acknowledge and agree that the Confidentiality provisions in
Section 8 of said Agreement continue to remain in full force and effect.

     4. (a) You agree that the terms set forth in this Letter are in full
satisfaction of all obligations the Company has to you, known and unknown. You
do hereby irrevocably and unconditionally release the Company, its affiliates,
officers, directors, employees, agents, representatives, successors and assigns
from any and all claims, demands and liabilities whatsoever, including, but not
limited to, any claims in contract or tort and any claims in connection with
your employment with the Company, the termination of that employment, or
pursuant to any federal, state or local employment laws, regulations, executive
orders or other requirements. In exchange for the benefits being accorded to you
under this Letter, it is your intent to provide to the Company the broadest
release of claims and liabilities that may be provided by law.

     (b)The Company agrees that this Letter shall be in complete and final
settlement of and releases you, your heirs, executors, administrators and
assigns and all others connected with you, from any and all causes of action,
rights or claims which the Company has had in the past or now has against you in
any way related to or arising out of your employment and its termination.

                                     Page 1

                                 Page 74 of 104
<PAGE>

     5. Without additional compensation, you agree to provide transition support
and help with such projects as the Company may reasonably request between now
and March 31, 2003. The Company will pay your reasonable expenses incurred in
connection therewith.

     If legal proceedings are brought to enforce this Letter Agreement, the
prevailing party shall be entitled to recover its or his reasonable attorney's
fees.

     This Letter contains the entire agreement between the parties with respect
to all issues relating to the cessation of your employment with the Company.

     If this Letter accurately reflects our agreement, please do indicate by
executing a copy of this Letter as indicated below and returning the same to us
by 1:30 p.m. on June 6, 2002, failing which this offer is withdrawn and becomes
null and void.

Sincerely yours,

IEC Electronics Corp.

By:

/s/ David J. Beaubien
---------------------
David J. Beaubien, Chairman
Compensation Committee

ACKNOWLEDGED AND AGREED

/s/ Thomas W. Lovelock
----------------------
Thomas W. Lovelock

Date:

                                     Page 2

                                 Page 75 of 104EXHIBIT 10.29

               SUPPLEMENTAL SEVERANCE AGREEMENT WITH T. LOVELOCK

     This  document  will  summarize  the  supplemental  agreement  between  Tom
Lovelock and IEC Electronics Corp. (the "Company") with respect to extending the
payment schedule relating to severance obligations.

     Thus, in consideration  of the mutual  covenants and promises  contained in
this agreement, the Company and tom Lovelock agree as follows:

     The Company will pay to Tom the gross sum of $10,500.00  monthly,  to begin
Friday,  December 6, 2002.  Subsequent  payments will be made the last Friday of
each month (to begin Friday, December 27, 2002) in the amount of $10,500 through
August 31, 2003.  The final  payment  will be made on September  27, 2003 in the
amount  of  $9230.60   reflecting  the  remaining  balance  owed.  This  payment
arrangement  will replace the previous  payment  schedule  contained  within the
severance  document  signed  by  the  Company  and  Tom on  June  6,  2002.  IEC
Electronics  will maintain Tom's health  insurance  coverage  through October 1,
2003 at which time Tom will be  provided  with the option to  continue  coverage
pursuant to COBRA and applicable law. Effective May 1, 2003 Tom will be required
to pay the standard "employee" portion of the premium, to be determined.  Should
Tom  obtain  employment  in  which he is  eligible  to  participate  in a health
insurance  plan,  he will be  required to notify IEC  immediately  to cancel the
policy. All other benefits,  life, accident, death and disability insurance will
expire as previously indicated, March 31, 2003.

     This letter contains the entire supplemental agreement between Tom and IEC
Electronics.

December 6, 2002                                     IEC Electronics Corporation
----------------                                     ---------------------------
Date                                                 /s/Tina DeVey
                                                     --------------
                                                     Manager, Human Resources

December 9, 2002                                    /s/Tom Lovelock
----------------                                    ---------------
Date                                                Tom Lovelock

                                     Page 1

                                 Page 76 of 104EXHIBIT 10.30

                                AMENDMENT NO. 9
                                       TO
                           LOAN AND SECURITY AGREEMENT

     Amendment  No.  9 dated  as of June  20,  2002  ("Amendment")  to Loan  and
Security Agreement originally dated as of December 28, 1999 and originally among
IEC ELECTRONICS  CORP. ("IEC" or "Debtor") and IEC  ELECTRONICS-EDINBURG,  TEXAS
INC.  ("IEC-Edinburg")  and HSBC BANK USA, as Agent  ("Agent") and HSBC BANK USA
("HSBC Bank") and GENERAL ELECTRIC CAPITAL CORPORATION ("GE Capital") as lenders
(collectively, the "Lenders").

BACKGROUND

     1. Debtor,  Agent and Lenders  entered  into a Loan and Security  Agreement
dated as of  December  28,  1999 and  Amendment  Nos.  1, 2, 3, 4, 5, 6, 7 and 8
thereto dated as of March 30, 2000,  December 1, 2000, April 24, 2001,  December
21,  2001,  February 15,  2002,  February 28, 2002,  March 15, 2002 and April 8,
2002,  respectively  (collectively,  the  "Agreement").  On or about January 27,
2000,  IEC-Edinburg  merged into IEC  leaving  IEC as the sole Debtor  under the
Agreement.  All  capitalized  terms not otherwise  defined herein shall have the
meanings set forth in the Agreement.

     2. Debtor has requested that Agent and Lenders consider  extending the term
of the Agreement through September 30, 2002 and has represented to Agent and the
Lenders that Debtor has undertaken efforts to cause certain asset sales to occur
in the immediate future, and is pursuing with third-party  lenders a refinancing
of all of the  indebtedness  of  Debtor  to  Agent  and the  Lenders  under  the
Agreement  ("Indebtedness"),  and that Debtor  expects such efforts to result in
the repayment in full of the Indebtedness on or before September 30, 2002.

     3. In  response  to  Debtor's  request  and subject to all of the terms and
conditions  set forth  herein,  the Agent and the  Lenders  are  willing to make
certain  amendments  to the Agreement as set forth below on the  conditions  set
forth  below.  NOW,  THEREFORE,  Debtor,  the Agent and the Lenders for good and
valuable  consideration,  receipt  of  which  is  hereby  acknowledged,  and  in
contemplation of the foregoing, hereby agree as follows:

     A. Conditions. The amendments and waivers contained herein shall be granted
upon satisfaction of the following terms and conditions:

     1. Debtor shall have executed, and shall have caused IEC Electronics, S. de
R.L.  de C.V.  ("IEC-Mexico")  and IEC  Electronics  Foreign  Sales  Corporation
("IEC-FSC") to have executed,  this Amendment to indicate their consent  hereto,
and  four  executed  duplicate  originals  of this  Agreement  shall  have  been
delivered to Agent.

     2. Debtor's continuing  agreement,  evidenced by Debtor's signature on this
Amendment,  that Debtor will:  (i) continue to cooperate with Getzler & Company,
Inc. ("Getzler") so that Getzler may review Debtor's business and business plans
in order to report  thereon to Agent's  counsel  and the  Lenders;  (ii)  permit
Getzler to access Debtor's places of business and its books and records in order
to complete  such review and report;  (iii)  reimburse the Agent or its counsel,
upon demand,  for the cost and expenses of Getzler;  and (iv) promptly advise in
writing, any professionals  engaged by Debtor or its Affiliates to advise Debtor
or its  Affiliates  with  respect  to their  business  or  financial  prospects,
including,   without   limitation,   Lincoln  Partners  LLC  (individually,   an
"Investment Banker" and collectively, the "Investment Bankers"), that Debtor (a)
consents to Agent and the Lenders communicating with such Investment Bankers for
the purpose of being advised by, and discussing  with, such Investment  Bankers,
the Investment Bankers' timeline, process, recommendations and proposals for any
asset or stock sales,  or the refinancing of Debtor's  indebtedness,  or for the
recapitalization  of Debtor or any Affiliate,  or any other plans for increasing
Debtor's  equity,  reducing the  indebtedness of Debtor and its  Affiliates,  or
otherwise  improving  the  financial  condition  or  business  of Debtor and its
Affiliates, and (b) requests such Investment Bankers to provide such information
to the Agent and the  Lenders,  and to also  provide to Agent and the  Lenders a
copy of any contact or other  reports  prepared by such  Investment  Bankers for
Debtor when such reports are delivered to Debtor.

     3.  Payment on the date  hereof by Debtor to Agent,  for the account of the
Lenders,  of the $80,000  unpaid  portion of the  extension fee earned under the
terms of Amendment No. 8.

     4. Debtor's agreement evidenced by Debtor's signature on this Amendment, to
pay to Agent, for the account of the Lenders,  an additional  $100,000 extension
fee, with such fee being earned upon execution of this Agreement by all parties,
and payable in the amounts and on the due dates listed below:

                Amount          Due Date

                $15,000          7/15/02;
                $15,000          8/15/02;
                $15,000          9/15/02; and
                $55,000          9/30/02.

     In the event the  Indebtedness is fully and irrevocably paid in full ("Full
Payment"),  then any of the above  amounts  which are due and payable  after the
date of such Full Payment shall be waived.

                                     Page 1

                                 Page 77 of 104
<PAGE>

     5. Debtor's agreement  evidenced by Debtor's signature on this Amendment to
the reduction  from $350,000 to $175,000 of Debtor's ACH facility with HSBC Bank
USA effective as of the date of this Agreement.

     6. Debtor's agreement  evidenced by Debtor's signature on this Amendment to
diligently pursue the sale of Debtor's property in Arab,  Alabama and obtain and
deliver to Agent by August 1, 2002 a copy of  either:  (i) an  executed  written
bona  fide  purchase  offer  from a  qualified  purchaser,  such  offer and such
purchaser to be acceptable to Debtor, Agent and the Lenders, or (ii) an executed
written auction agreement with a qualified  auctioneer to conduct a commercially
reasonable  auction  of such  property  by  September  13,  2002,  such  auction
agreement and auctioneer to be acceptable to the Debtor, Agent and the Lenders.

     7. Debtor's  agreement  evidenced by Debtor's  signature on this  Amendment
that Agent may hire an appraiser and an environmental consultant satisfactory to
Agent to appraise and conduct an  environmental  review of the  Edinburg,  Texas
assets and real  property  of  Debtor,  and that the fees and  expenses  of such
appraiser and  environmental  consultant  shall be for the account of Debtor and
shall be paid by Debtor, or reimbursed by Debtor to Agent, upon Agent's demand.

     B. Amendments.  Debtor,  the Agent and the Lenders agree that upon Debtor's
satisfaction  of, or agreement to, as  appropriate,  the conditions set forth in
Section A above,  the  Agreement  and the Schedule are amended in the  following
respects:

     1. Part (A) of Item 1 of the Schedule to the Agreement is hereby deleted in
its entirety and replaced with the following new text:

        "(A) The applicable Maximum Limit of $3,500,000;"

     2. Item 18(g) of the  Schedule to the  Agreement  is hereby  deleted in its
entirety and replaced with the following new text:

     "(g)  Pricing  Grid -  Advances  and Term  Loan.  The  applicable  rates of
interest to be charged  during each time period listed below for each Prime Rate
Loan and Libor  Loan made or  outstanding  hereunder  as an Advance or under the
Term Note are listed below:

                                  PRICING GRIDS

        A.ADVANCES

       Period                   Prime Rate Option         Libor Rate Option
       ---------------------------------------------------------------------

        6/1/02 - 6/30/02         Prime Rate plus 2-3/4%         None
        7/1/02 - 7/31/02         Prime Rate plus 3%             None
        8/1/02 - 8/31/02         Prime Rate plus 3-1/4%         None
        9/1/02 - 9/30/02         Prime Rate plus 3-1/2%         None

        B.TERM LOAN

       Period                   Prime Rate Option          Libor Rate Option
       -----------------------------------------------------------------------

        6/1/02 - 6/30/02        Prime Rate plus 3-1/4%          None
        7/1/02 - 7/31/02        Prime Rate plus 3-1/2%          None
        8/1/02 - 8/31/02        Prime Rate plus 3-3/4%          None
        9/1/02 - 9/30/02        Prime Rate plus 4%              None."

     3.  Item 32 of the  Schedule  to the  Agreement  is hereby  deleted  in its
entirety and replaced with the following new text:

         "Initial Term: To expire on September 30, 2002 Renewal Term: NONE"

                                     Page 2

                                 Page 78 of 104
<PAGE>

     4. The  following  new  negative  covenants  are added to Article 10 of the
Agreement:

     "10.17.  MEXICO  ASSET  SALE.  Debtor will cause  substantially  all of the
assets of IEC and IEC-Mexico located in IEC-Mexico's facility in Reynosa, Mexico
to be sold pursuant to that certain Asset  Purchase  Agreement  dated as of June
18, 2002 between IEC and  Electronic  Product  Integration  Corporation  ("Asset
Purchase  Agreement")  providing for a cash sale price (the "Cash Price") as set
forth in paragraph  3.2 of the Asset  Purchase  Agreement  payable in accordance
with  paragraph  3.5  thereof.  The  balance of the sale price may be payable to
Debtor  over time based on various  factors  including  a  percentage  of future
orders  received by the  purchaser  from certain  former  customers of Debtor or
IEC-Mexico ("Earn-out Amount") and additional compensation may be paid to Debtor
under  paragraph 8.4 of the Asset Purchase  Agreement in the form of commissions
based on future sales volume from certain customers ("Commission Payments",  and
together with the Earn-out  Amount,  the "Earnout  Proceeds").  Immediately upon
receipt of that portion of the Cash Price described at section 3.5(a)(ii) of the
Asset  Purchase  Agreement,  Debtor will pay an amount not less than $125,000 to
Agent to be applied as follows:  $75,000 to unpaid  Advances under the Revolving
Credit and $50,000 to  installments  of  principal  of the Term Notes in inverse
order of maturity,  and in conjunction  therewith a new Reserve in the amount of
$75,000 will be established  under the Revolving  Credit with respect to certain
potential  litigation expenses of Debtor heretofore disclosed to Agent with such
Reserve to remain in place at the  discretion  of Agent until such time as Agent
is paid  $200,000 in total  hereunder or Debtor  reaches a settlement in full of
certain litigation heretofore disclosed to Agent or such Reserve is used to fund
all or part of the  balance of the  $200,000  due Agent  under the terms of this
Section 10.17;  and  immediately  upon receipt of that portion of the Cash Price
described at section  3.5(a)(iii) of the Asset Purchase  Agreement,  Debtor will
pay to Agent to be applied to  installments  of  principal  of the Term Notes in
inverse  order of  maturity  an amount  equal to the  greater  of $75,000 or the
amount necessary to bring the total of the payments  hereunder to Agent from the
Cash Price to $200,000 in the aggregate.

     10.18. ASSIGNMENT OF EARNOUT PROCEEDS. Promptly upon execution of the Asset
Purchase Agreement, Debtor will execute and deliver to Agent, for the benefit of
the Agent and the Lenders,  a first lien assignment of the Earnout  Proceeds (as
defined in Section  10.17  hereof),  such  assignment  to be in form and content
satisfactory to Agent. Immediately upon receipt of any Earnout Proceeds,  Debtor
will pay the amount thereof to Agent to be applied to  installments of principal
of the Term Notes in inverse order of maturity.

     10.19. SALE OF DEBTOR'S  BUSINESS OR STOCK.  Debtor will obtain and deliver
to Agent and the Lenders by July 26,  2002 an  executed  letter of intent from a
satisfactory  purchaser to purchase  substantially all of the assets or business
or stock of Debtor  ("Sale");  Debtor  will  cause  such Sale to be closed on or
before  August 30, 2002;  and Debtor will  immediately  upon such closing pay to
Agent, for the benefit of the Agent and the Lenders,  a sufficient amount of the
net proceeds from such Sale to repay in full all of the Indebtedness."

5. Debtor  acknowledges  that Debtor  intends to refinance  the Advances and the
Term Loans under the Agreement with one or more  different  lenders on or before
the expiration of the Initial Term as amended herein, and agrees that, upon such
payment of the Advances under the Agreement,  the Term Notes of the Debtor dated
December  28, 1999 in favor of the  Lenders  become due and payable by the terms
thereof since such financing would not come from  internally  generated funds in
the ordinary course of business.

     D. Reaffirmations and Release.

     1. The Agreement,  except as specifically  modified hereby, shall remain in
full force and effect and Debtor hereby reaffirms the Agreement,  as modified by
this Amendment, and all collateral and other documents executed and delivered to
Agent and the Lenders in connection with the Agreement.

     2. IEC-Mexico and IEC-FSC,  by their execution  hereof,  consent hereto and
hereby reaffirm the execution and delivery of their respective  Guaranties dated
December 28, 1999 and each agrees that its respective guaranty shall continue in
full force and effect and shall be applicable to all  indebtedness,  obligations
and  liabilities  of  Debtor  to  Agent  and  the  Lenders,   including  without
limitation,  all  indebtedness  evidenced by or arising under the Agreement,  as
modified by this Amendment.

                                     Page 3

                                 Page 79 of 104
<PAGE>

     3. By their execution hereof, each of Debtor, IEC-Mexico and IEC-FSC, (each
individually a "Releasor",  and  collectively,  the  "Releasors"),  for good and
valuable  consideration,  and  by  these  presents  does  for  itself,  and  its
representatives,  successors and assigns,  remise, release and forever discharge
the  Agent  and the  Lenders  in any and  every  capacity,  their  predecessors,
successors,  assigns, directors, officers,  shareholders,  employees, attorneys,
advisors and agents  (collectively,  the  "Releasees")  of and from all, and all
manner of action and actions,  cause and causes of action,  suits,  debts, dues,
sums of money,  accounts,  reckonings,  bonds,  bills,  specialties,  covenants,
contracts, controversies,  agreements, promises, variances, trespasses, damages,
judgments,  extents,  executions,  claims and demands  whatsoever,  in law or in
equity,  which against such  Releasees or any one or more of them,  any Releasor
ever  had,   now  has  or  which  any   Releasor   or  any  of  any   Releasor's
representatives, successors or assigns hereafter can, shall or may claim to have
for or by reason of any  cause,  matter or thing  whatsoever,  arising  from the
beginning of time to and through and including the date hereof.

     E. Other Provisions.

     1.  Debtor  agrees  to pay on demand  by Agent  all  expenses  of Agent and
Lenders  including  without  limitation,  fees and  disbursements of counsel for
Agent and the Lenders, in connection with the transactions  contemplated by this
Amendment,  the negotiations for and preparation of this Amendment and any other
documents  related  hereto,  and the  enforcement of the rights of Agent and the
Lenders under the Agreement as amended by this Amendment.

     2. Debtor affirms that Debtor has completed a management  restructuring and
that (a) W.  Barry  Gilbert  has been  duly  appointed  and is  acting  as Chief
Executive  Officer  replacing Thomas W. Lovelock and has been duly appointed and
is  acting  as an  officer  of  IEC-Mexico  and IEC  Electronics  Foreign  Sales
Corporation; (b) Bill R. Anderson has been duly appointed and is acting as Chief
Operating Officer; (c) Richard L. Weiss is no longer Chief Financial Officer and
is no longer  employed  by Debtor;  and (d) Thomas W.  Lovelock  and Debtor have
entered into a consulting agreement.

     3. This  Amendment  shall be governed by and  construed  under the internal
laws of the State of New York,  as the same may from time to time be in  effect,
without regard to principles of conflicts of law.

     Agreed to as of the date first set forth above.

     IEC ELECTRONICS CORP.              HSBC BANK USA, as Agent as Debtor

By: /s/ W. Barry Gilbert                By: /s/ Vincent J. Harper
------------------------                -------------------------
        W. Barry Gilbert                        Vincent J. Harper
        Chief Executive Officer                 First Vice President

    GENERAL ELECTRIC CAPITAL            HSBC BANK USA, as a Lender
    CORPORATION, as a Lender

By: /s/ Donald J. Cavanagh              By: /s/ Vincent J. Harper
--------------------------              -------------------------
        Donald J. Cavanagh                      Vincent J. Harper
        Duly Authorized Signatory               First Vice President

CONSENTED TO AND AGREED AS OF THIS 20TH DAY OF JUNE, 2002.

IEC ELECTRONICOS, S. de R.L. de C.V.    IEC ELECTRONICS FOREIGN SALES
as Guarantor                            CORPORATION, as Guarantor

By: /s/ W. Barry Gilbert                By: /s/ W. Barry Gilbert
------------------------                ------------------------
        W. Barry Gilbert                        W. Barry Gilbert
        Chief Executive Officer                 Chief Executive Officer

                                     Page 4

                                 Page 80 of 104
<PAGE>
August 9, 2002

IEC Electronics Corp.
105 Norton Street
Newark, NY  14513
Attn:  W. Barry Gilbert, Chief Executive Officer

Re:  Loan and Security Agreement

Gentlemen:

     Pursuant to your request, we are willing to modify certain of the deadlines
set forth in Amendment No. 9 dated June 20, 2002 ("Amendment No. 9") to the Loan
and Security  Agreement  dated as of December 28, 1999 with the present  parties
thereto  being  you,  HSBC  Bank USA as  Agent,  and HSBC  Bank USA and  General
Electric  Capital  Corporation  as the  Lenders  (as  amended  prior to the date
hereof,  the "LSA"),  and we are also willing to  temporarily  modify one of the
reserves established under the LSA.

     As Agent, we agree that Amendment No. 9 is hereby modified as follows:

     1. The  existing  Section  A.6 is  hereby  deleted  and  replaced  with the
following new Section A.6:

     "6. Debtor's  agreement to diligently  pursue the sale of Debtor's property
in Arab,  Alabama  and obtain and  deliver to Agent by August 16, 2002 a copy of
either:  (i) an  executed  written  bona fide  purchase  offer from a  qualified
purchaser,  such offer and such purchaser to be acceptable to Debtor,  Agent and
the Lenders,  or (ii) an executed  written  auction  agreement  with a qualified
auctioneer  to conduct a  commercially  reasonable  auction of such  property by
September 13, 2002,  such auction  agreement and  auctioneer to be acceptable to
the Debtor, Agent and the Lenders."

     2. Section  10.19 is hereby  deleted and replaced  with the  following  new
Section 10.19:

        "10.19    SALE OF DEBTOR'S BUSINESS OR STOCK.
        Debtor will obtain and deliver to Agent and the Lenders by September 20,
        2002 an executed definitive sale agreement from a satisfactory purchaser
        to purchase substantially all of the assets or business or stock of
        Debtor ("Sale"), and providing for such Sale to be closed on or before
        October 30, 2002; and will immediately upon such closing pay to Agent,
        for the benefit of the Agent and the Lenders, a sufficient amount of the
        net proceeds from such Sale to repay in full all of the Indebtedness."

     We also hereby temporarily modify the existing $1,000,000 Term Loan Reserve
under the LSA by reducing  the amount  thereof to  $800,000  for the period from
August 9, 2002  through  August  16,  2002  with  such Term Loan  Reserve  to be
restored to $1,000,000 as of August 19, 2002.

     This  letter  replaces in its  entirety  our letter of August 5, 2002 which
never was fully executed and is null and void.

     In order to  signify  your  agreement  to,  and  acceptance  of,  the above
modifications,  please  sign and  return  to us  today  the  enclosed  duplicate
original of this letter  whereupon this letter shall become  effective as of the
date hereof.

                                                     HSBC BANK USA, as Agent

                                                     By:/s/Gary T. Fowler
                                                     ---------------------
                                                           Gary T. Fowler
                                                           Senior Vice President

Accepted and Agreed as of
August 9, 2002

IEC ELECTRONICS CORP., as Debtor

By: /s/ W. Barry Gilbert
------------------------
        W. Barry Gilbert
        Chief Executive Officer

IEC ELECTRONICS S. de. R.L. de C.V.

By: /s/ W. Barry Gilbert
------------------------
        W. Barry Gilbert
        Chief Executive Officer

IEC ELECTRONICS FOREIGN SALES
CORPORATION, as Guarantor

By: /s/ W. Barry Gilbert
------------------------
        W. Barry Gilbert
        Chief Executive Officer

                                     Page 5

                                 Page 81 of 104
<PAGE>
August 23, 2002

IEC Electronics Corp.
105 Norton Street
Newark, NY  14513
Attn:  W. Barry Gilbert, Chief Executive Officer

Re:  Amendment No. 9 Second Modification

Gentlemen:

     Pursuant  to your  request,  we are  willing to  further  modify one of the
deadlines set forth in Amendment No. 9 dated June 20, 2002  ("Amendment  No. 9")
to the Loan and  Security  Agreement  dated as of  December  28,  1999  with the
present parties thereto being you, HSBC Bank USA as Agent, and HSBC Bank USA and
General  Electric  Capital  Corporation  as the Lenders (as amended prior to the
date hereof, the "LSA").

     As Agent, we agree that Amendment No. 9 is hereby modified as follows:

     1. The  existing  Section  A.6 is  hereby  deleted  and  replaced  with the
following new Section A.6:

          "6. Debtor's agreement to diligently pursue the sale of Debtor's
          property in Arab, Alabama and obtain and deliver to Agent by September
          20, 2002 a copy of either: (i) an executed written bona fide purchase
          offer from a qualified purchaser, such offer and such purchaser to be
          acceptable to Debtor, Agent and the Lenders, or (ii) an executed
          written auction agreement with a qualified auctioneer to conduct a
          commercially reasonable auction of such property by November 1, 2002,
          such auction agreement and auctioneer to be acceptable to the Debtor,
          Agent and the Lenders."

     In order to  signify  your  agreement  to,  and  acceptance  of,  the above
modifications,  please sign and return to us today the enclosed  four  duplicate
originals of this letter  whereupon this letter shall become effective as of the
date hereof.

HSBC BANK USA, as Agent

By /s/ Vincent J. Harper
------------------------
        Vincent J. Harper
        First Vice President

Accepted and Agreed as of
August 23, 2002

IEC ELECTRONICS CORP., as Debtor

By: /s/ W. Barry Gilbert
------------------------
        W. Barry Gilbert
        Chief Executive Officer

IEC ELECTRONICS S. de. R.L. de C.V.

By: /s/ W. Barry Gilbert
------------------------
        W. Barry Gilbert
        Chief Executive Officer

IEC ELECTRONICS FOREIGN SALES
CORPORATION, as Guarantor

By: /s/ W. Barry Gilbert
------------------------
        W. Barry Gilbert
        Chief Executive Officer

                                     Page 6

                                 Page 82 of 104
<PAGE>
IEC Electronics Corp.
105 Norton Street
Newark, NY  14513

Attn:  W. Barry Gilbert, Chief Executive Officer

Re:  Acterna Settlement

Gentlemen:

     In conjunction with your proposed  settlement of the action IEC Electronics
Corp.  ("IEC") commenced  against Acterna  Corporation in New York State Supreme
Court,  Wayne County under Index No. 50447  ("Action"),  you have requested that
the Secured  Parties  under the Loan and  Security  Agreement  among IEC and the
Secured  Parties  dated as of December 28,  1999,  as amended  ("LSA")  agree to
certain modifications under the LSA.

     The Secured Parties are willing to make the  modifications set forth herein
on the following conditions:

     1. The Agent  receives  funds in the amount of not less than  $1,940,063.09
from the proceeds paid by Acterna  Corporation  in settlement of the Action with
such funds to be applied to prepay  principal  installments of the Term Loans in
inverse order of maturity.

     2. As additional  collateral security for the indebtedness of IEC under the
LSA,  IEC  pledges to the Agent,  for the  benefit of the Agent and the  Secured
Parties,  the Promissory Note of Acterna Corporation payable to the order of IEC
dated August 23, 2002 in the face principal amount of $1,113,996, such pledge to
be evidenced by a pledge  security  agreement in form and content  acceptable to
the Agent,  and such  original note to be endorsed in blank by IEC and delivered
to Agent.

     3. The Agent receives a complete copy of the executed settlement  agreement
with respect to the Action and also  receives  four  executed  originals of this
letter signed by IEC and the Guarantors.

     Provided the above  conditions  are  satisfied,  the Secured  Parties agree
that:

     A. (i) A $500,000  portion of the $1,000,000  Term Loan Reserve against the
Revolving  Credit  will be  cancelled  upon the  Agent's  receipt  and review of
satisfactory  evidence  confirming  that IEC has: (a) adopted the proposed trade
creditor  settlement  program in the form  shared with the Agent and the Secured
Parties on the date hereof ("Vendor Program"); and (b) sent notice of the Vendor
Program to all vendors classified as Group 1 or 2 under the Vendor Program; and

     (ii) the  remaining  $500,000  portion  of the Term  Loan  Reserve  will be
cancelled  upon  the  Agent's  receipt  and  review  of  satisfactory   evidence
confirming that IEC has received  acceptances of the Vendor Program from vendors
holding not less than fifty percent (50%) of the  aggregate  outstanding  dollar
amount of balances due all Group 1 and Group 2 vendors under the Vendor Program.

                                     Page 7

                                 Page 83 of 104
<PAGE>
     B. (i) upon the cancellation of the first $500,000 portion of the Term Loan
Reserve  as  set  forth  in  "A(i)"  above,  and  provided  IEC  has  sufficient
availability  under  the  Borrowing  Capacity  at  the  applicable  time  and is
otherwise in  compliance  with the terms of the LSA,  then up to $500,000 can be
borrowed by IEC under the Revolving  Credit to fund working capital needs and to
fund the cash payments  provided for in the Vendor  Program to vendors owed less
than $5,000 other than cash payments to any Director for Director fees;

     (ii) upon  cancellation  of the  second  $500,000  portion of the Term Loan
Reserve  as set  forth  in "A  (ii)"  above  and  provided  IEC  has  sufficient
availability  under  the  Borrowing  Capacity  at  the  applicable  time  and is
otherwise in compliance with the LSA, then up to $500,000 can be borrowed by IEC
under the Revolving Credit to fund the cash payments  provided for in the Vendor
Program to vendors  owed  $5,000 or more but no one vendor may be paid more than
ten percent (10%) of the outstanding  dollar amount of the balance owed any such
vendor as reflected in the Vendor Program unless  consented to in writing by the
Agent.

     Nothing  herein  shall  limit or impair  the  ability  of the Agent and the
Secured Parties to require such reserves as they deem  appropriate  from time to
time in accordance with the terms of the LSA.

     In order to signify your  agreement to, and  acceptance of, the above terms
and LSA  modifications,  please  sign and  return to us the  enclosed  duplicate
original of this letter  whereupon this letter shall become  effective as of the
date hereof.

                                                HSBC BANK USA, as Agent

                                                By /s/ Vincent J. Harper
                                                ------------------------
                                                       Vincent J. Harper
                                                       First Vice President

Accepted and Agreed as of
August 22, 2002

IEC ELECTRONICS CORP., as Debtor

By: /s/ W. Barry Gilbert
------------------------
        W. Barry Gilbert
        Chief Executive Officer

IEC ELECTRONICS S. de. R.L. de C.V., as Guarantor

By: /s/ W. Barry Gilbert
------------------------
        W. Barry Gilbert
        Chief Executive Officer

IEC FOREIGN SALES CORPORATION, as Guarantor

By: /s/ W. Barry Gilbert
------------------------
        W. Barry Gilbert
        Chief Executive Officer

                                     Page 8

                                 Page 84 of 104
<PAGE>
September 17, 2002

IEC Electronics Corp.
105 Norton Street
Newark, NY  14513
Attn:  W. Barry Gilbert, Chief Executive Officer

Re:  Loan and Security Agreement Modifications

Gentlemen:

     Pursuant to our  discussions  with you, we are willing to modify certain of
the provisions set forth in the Loan and Security Agreement dated as of December
28, 1999 with the present parties thereto being you, HSBC Bank USA as Agent, and
HSBC Bank USA and  General  Electric  Capital  Corporation  as the  Lenders  (as
amended and  modified  prior to the date  hereof,  the  "LSA"),  and we are also
willing to  temporarily  modify one of the reserves  established  under the LSA.
Capitalized  terms used in this letter and not  otherwise  defined are used with
the defined meanings set forth in the LSA.

     As a condition to the  modifications  made herein,  you and we agree to the
revocation of the provisions  regarding the Vendor Payment  Program and the Term
Loan  Reserve as set forth in Parts  A(ii) and B(ii) of the  Acterna  Settlement
letter dated August 22, 2002 between the Agent and you.

     As Agent, we agree that the LSA is hereby modified as follows:

     1. Part (A) of Item 1 of the Schedule regarding the Maximum Limit of the
Borrowing Capacity is hereby deleted and replaced with the following new Part
(A):

        "(A) The applicable Maximum Limit of $2,000,000;"

     2.  Section  A.6 of  Amendment  9 is hereby  deleted  and two new  Negative
Covenants are hereby added to the LSA as Sections 10.20 and 10.21 as follows:

        "10.20 Sale of Alabama Property. Debtor shall not fail to sell the
        Debtor's property in Arab, Alabama by September 30, 2002 for a purchase
        price of approximately $600,000 and wire the net proceeds of
        approximately $550,000 to the Agent by September 30, 2002 as a
        prepayment on the Term Loans to be applied to installments thereof in
        inverse order of maturity."

        "10.21 Sale of Texas Property. Debtor shall not fail to diligently
        pursue the sale of Debtor's property in Edinburgh, Texas and obtain and
        deliver to Agent by October 18, 2002 a copy of either (i) an executed
        bona fide purchase offer from a qualified purchaser, such offer and
        purchaser to be acceptable to Debtor, Agent and the Lenders, or (ii) an
        executed written auction agreement with a qualified auctioneer to
        conduct a commercially reasonable auction of such property by December
        31, 2002, such auction agreement and auctioneer to be acceptable to the
        Debtor, Agent and the Lenders."

     We also hereby  temporarily  modify the existing $500,000 Term Loan Reserve
under the LSA by reducing the amount thereof to $300,000 for the period from the
date hereof through  September 23, 2002.  Assuming delivery by the Debtor to the
Agent and the Lenders on or before  September 23, 2002 of a satisfactory  letter
of intent or  complete  refinancing  with a new lender for the sale of  Debtor's
business  and the absence of any Event of Default  under the LSA,  Agent and the
Lenders  will  further  reduce the Term Loan Reserve to $100,000 as of September
24, 2002,  and provided the Renewal Term of the LSA is extended  past  September
30,  2002,  the Term Loan Reserve will be increased to $300,000 as of October 7,
2002, and restored to $500,000 as of October 14, 2002.

     Nothing  herein  shall  limit or impair  the  ability  of the Agent and the
Secured  Parties  to  require  such  reserves  in  such  amounts  as  they  deem
appropriate, in their sole discretion, from time to time.

                                     Page 9

                                 Page 85 of 104
<PAGE>

     In order to  signify  your  agreement  to,  and  acceptance  of,  the above
modifications,  please  sign and  return  to us  today  the  enclosed  duplicate
original of this letter  whereupon this letter shall become  effective as of the
date hereof.

                                                        HSBC BANK USA, as Agent

                                                 By /s/ Vincent J. Harper
                                                 ------------------------
                                                        Vincent J. Harper
                                                        First Vice President
Accepted and Agreed as of
September 17, 2002

IEC ELECTRONICS CORP., as Debtor

By: /s/ W. Barry Gilbert
------------------------
        W. Barry Gilbert
        Chief Executive Officer

IEC ELECTRONICS S. de. R.L. de C.V.

By: /s/ W. Barry Gilbert
------------------------
        W. Barry Gilbert
        Chief Executive Officer

IEC ELECTRONICS FOREIGN SALES
CORPORATION, as Guarantor

By: /s/ W. Barry Gilbert
------------------------
        W. Barry Gilbert
        Chief Executive Officer

                                     Page 10

                                 Page 86 of 104
<PAGE>
September 24, 2002

IEC Electronics Corp.
105 Norton Street
Newark, NY  14513
Attn:  W. Barry Gilbert, Chief Executive Officer

Re:  Amendment 9 Further Modification

Gentlemen:

     Pursuant to your request, we are willing to modify certain of the deadlines
set forth in Amendment No. 9 dated June 20, 2002 ( as modified prior to the date
hereof,  "Amendment  No.  9") to the Loan  and  Security  Agreement  dated as of
December 28, 1999 with the present  parties  thereto being you, HSBC Bank USA as
Agent, and HSBC Bank USA and General Electric Capital Corporation as the Lenders
(as amended prior to the date hereof, the "LSA").

     As a condition to the modification made herein, we require your affirmation
evidenced by your signature hereon that the approximately  $21,000 on deposit in
your account with the Texas State Bank will be used by you only to pay severance
due Robert Norris in connection  with the closing of the IEC-Mexico  facility in
Reynosa, Mexico.

     As Agent, we agree that Amendment No. 9 is hereby modified as follows:

     1. Section  10.19 is hereby  deleted and replaced  with the  following  new
Section 10.19:

        "10.19    SALE OF DEBTOR'S BUSINESS OR STOCK.
        Unless the Indebtedness is sooner repaid in its entirety through a
        refinancing with third party lenders or otherwise, Debtor will obtain
        and deliver to Agent and the Lenders by October 7, 2002 a satisfactory
        executed letter of intent from a satisfactory purchaser to purchase
        substantially all of the assets or business or stock of Debtor ("Sale"),
        and providing for such Sale to be closed on or before November 29, 2002;
        and will immediately upon such closing pay to Agent, for the benefit of
        the Agent and the Lenders, a sufficient amount of the net proceeds from
        such Sale to repay in full all of the Indebtedness, if any, which
        remains unpaid."

     If you  deliver to the Agent and the Lenders by October 7, 2002 a letter of
intent that satisfies the  requirements of Section 10.19, the Lenders would then
be willing to amend Item 32 of the  Schedule to extend the  Initial  Term of the
LSA from September 30, 2002 until October 31, 2002.

     In order to  signify  your  agreement  to,  and  acceptance  of,  the above
modification, please sign and return to us today the enclosed duplicate original
of this letter  whereupon  this letter  shall  become  effective  as of the date
hereof.

                                                HSBC BANK USA, as Agent

                                                By /s/ Vincent J. Harper
                                                ------------------------
                                                        Vincent J. Harper
                                                        First Vice President

Accepted and Agreed as of
September 24, 2002

IEC ELECTRONICS CORP., as Debtor

By: /s/ W. Barry Gilbert
------------------------
        W. Barry Gilbert
        Chief Executive Officer

IEC ELECTRONICS S. de. R.L. de C.V.

By: /s/ W. Barry Gilbert
------------------------
        W. Barry Gilbert
        Chief Executive Officer

IEC ELECTRONICS FOREIGN SALES
CORPORATION, as Guarantor

By: /s/ W. Barry Gilbert
------------------------
        W. Barry Gilbert
        Chief Executive Officer

                                    Page 11

                                 Page 87 of 104

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