Document:

EX-10.5

EXHIBIT 10.5

STOCK UNIT AGREEMENT

GRANTED TO:

DATE OF GRANT:

GRANTED PURSUANT TO: General Cable Corporation 2005 Stock Incentive Plan

NUMBER OF UNITS:

VESTING SCHEDULE:

1. This Stock Unit Agreement (the “Agreement”) is made and entered into as of
     (the “Date of Grant”) between General Cable Corporation, a Delaware corporation
(the “Company”), and      (the “Participant”), as a participant (the
“Participant”) in the General Cable Corporation 2005 Stock Incentive Plan (the “Plan”), a copy of
which is enclosed herewith. Capitalized terms not defined herein shall have the meanings ascribed
thereto in the Plan.

2. The Participant is granted      restricted units of the Common Stock of the
Company (the “Stock Units”). The Stock Units are granted as provided for under the Plan and are
subject to the terms and conditions set forth in the Plan and this Agreement. This grant of Stock
Units shall vest according to the vesting schedule set forth above. The Stock Units granted
hereunder are a matter of separate inducement and are not in lieu of salary or other compensation
for the Participant’s services.

3. The Stock Units shall be promptly recorded on the books of the Company in the
Participant’s name as restricted Stock Unit awards. When and if the vesting restrictions, as set
forth in the vesting schedule above, terminate, the Participant shall be entitled to a payment in
shares of Common Stock only, one share of Common Stock for each Stock Unit granted hereunder, and
the Participant shall have no rights to the Stock Units until all vesting restrictions terminate.

4. If under Section 12 of the Plan, the Participant shall be entitled to new,
additional or different Stock Units, such new, additional or different Stock Units shall be subject
to the restrictions on transferability as provided in Paragraphs 5 and 6 below.

5. The Stock Units shall be subject to restrictions on transferability as provided
in Paragraph 6 below. Subject to Paragraph 7 below, such restrictions shall be removed from the
Stock Units according to the vesting schedule set forth above. Upon the termination of vesting
restrictions and delivery of shares of Common Stock under this Agreement, the Participant shall
have all the rights of a shareholder with respect to such shares of Common Stock, including, but
not limited to, the right to vote such shares and to receive all dividends and other distributions
paid with respect to them, and all such shares shall be evidenced by a certificate or certificates,
as provided in Paragraphs 10 and 11 below. While the vesting restrictions are in place, the
Participant shall not be entitled to Dividend Equivalents Rights. Notwithstanding anything
contained in this Agreement to the contrary, all Stock Units shall become fully vested immediately
upon the occurrence of the Change in Control of the Company in accordance with Section 13 of the
Plan.

6. During the period when the Stock Units are subject to restrictions on
transferability, none of the Stock Units that are subject to such restrictions shall be sold,
exchanged, transferred, pledged, hypothecated or otherwise disposed of except by will or the laws
of descent and distribution. Any attempt by the Participant to dispose of any of the Stock Units in
any such manner shall result in the immediate forfeiture of the Stock Units and any other Stock
Units or shares of Common Stock then held by the Company or the designated escrow agent on the
Participant’s behalf.

7. In the event of the termination of the Participant’s employment, the
Participant’s Stock Units shall vest or be forfeited, as applicable, in accordance with Section 14
of the Plan.

8. Subject to Section 10(c) of the Plan, the Participant shall be entitled to defer
receipt of shares of Common Stock upon the termination of the vesting restrictions applicable to
the Stock Units only under the terms of an agreement with the Company acceptable to the Company
under the terms of the General Cable Corporation Deferred Compensation Plan and applicable law.
Further, the Company reserves the right to cause deferral to be made so as to comply with Section
162(m) of the Internal Revenue Code of 1986, as amended.

9. By his or her acceptance of this Agreement, the Participant agrees to reimburse
the Company for any taxes required by any government to be withheld or otherwise deducted and paid
by the Company in respect of the Stock Units or any shares of Common Stock issued to the
Participant upon the termination of vesting restrictions related to the Stock Unites. In lieu
thereof, the Company shall have the right to withhold the amount of such taxes from any other sums
due or to become due from the Company or a Subsidiary, as the case may be, to the Participant.

10. If the Company, in its sole discretion, shall determine that it is necessary, to
comply with applicable securities laws, the certificate or certificates representing any shares of
Common Stock delivered to the Participant under this Agreement shall bear an appropriate legend in
form and substance, as determined by the Company, giving notice of applicable restrictions on
transfer under or with respect to such laws.

11. The Participant covenants and agrees with the Company that if, with respect to
any shares of Common Stock delivered to the Participant pursuant to this Agreement, there does not
exist a Registration Statement on an appropriate form under the Securities Act of 1933, as amended
(the “Act”), which Registration Statement shall have become effective and shall include a
prospectus that is current with respect to the Stock Units or shares of Common Stock subject to
this Agreement, (i) that he or she takes the Stock Units or such shares of Common Stock for his or
her own account and not with a view to the resale or distribution thereof, (ii) that any subsequent
offer for sale or sale of any such Stock Units or shares shall be made either pursuant to (x) a
Registration Statement on an appropriate form under the Act, which Registration Statement shall
have become effective and shall be current with respect to the Stock Units or shares being offered
and sold, or (y) a specific exemption from the registration requirements of the Act, but in
claiming such exemption, the Participant shall, prior to any offer for sale or sale of such Stock
Units or shares, obtain a favorable written opinion from counsel for or approved by the Company as
to the applicability of such exemption and (iii) that the Participant agrees that the certificate
or certificates evidencing such shares shall bear a legend to the effect of the foregoing.

12. This Agreement is subject to all terms, conditions, limitations and restrictions
contained in the Plan, which shall be controlling in the event of any conflicting or inconsistent
provisions. In the event, however, of any conflict between the provisions of this Agreement or the
Plan and the provisions of an employment or change-in-control agreement between the Company and the
Participant, the provisions of the latter shall prevail.

13. This Agreement is not a contract of employment and the terms of the
Participant’s employment shall not be affected hereby or by any agreement referred to herein except
to the extent specifically so provided herein or therein. Nothing herein shall be construed to
impose any obligation on the Company to continue the Participant’s employment, and it shall not
impose any obligation on the Participant’s part to remain in the employ of the Company or any of
its Subsidiaries. This Agreement shall be governed by and construed in accord with the laws of the
Commonwealth of Kentucky, excluding principles of conflicts of law.

IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date written above.

GENERAL CABLE CORPORATION

By:

Name:

Title:

ACCEPTED:

[Insert the name of the Participant]FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT

SEVENTH AMENDMENT TO LOAN AND SECURITY AGREEMENT

 

This SEVENTH AMENDMENT TO LOAN AND SECURITY AGREEMENT (this "Amendment") is entered into as of March 21, 2005 by and among SYNALLOY CORPORATION, a Delaware corporation ("Parent"), and each of Parent's Subsidiaries identified on the signature pages hereof (such Subsidiaries, together with Parent, are referred to hereinafter each individually as a "Borrower," and individually and collectively, jointly and severally, as "Borrowers"), and WELLS FARGO FOOTHILL, INC., formerly known as Foothill Capital Corporation, a California corporation ("Lender").

WITNESSETH:

WHEREAS, Borrowers and Lender are parties to that certain Loan and Security Agreement dated as of July 26, 2002, as amended by that certain First Amendment to Loan and Security Agreement dated as of January 28, 2003, as further amended by that certain Second Amendment to Loan and Security Agreement and Consent dated as of July 24, 2003, as further amended by that certain Third Amendment to Loan and Security Agreement dated as of July 12, 2004, as further amended by that certain Fourth Amendment to Loan and Security Agreement dated as of September 8, 2004, as further amended by that certain Fifth Amendment to Loan and Security Agreement and Consent dated as of January 31, 2005 and as further amended by that certain Sixth Amendment to Loan and Security Agreement dated as of February 15, 2005 (as may be further amended, restated, supplemented or otherwise modified from time to time, the "Loan Agreement"; capitalized terms used herein without definition shall have the respective meanings ascribed to such terms in the Loan Agreement); and

WHEREAS, Borrowers and Lender have agreed to amend certain terms and conditions of the Loan Agreement as set forth herein.

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

	

AMENDMENT TO THE LOAN AGREEMENT.

Amendment to Section 7.20(a)(i) of the Loan Agreement.  Section 7.20(a)(i) of the Loan Agreement, Minimum EBITDA, is hereby amended by deleting deleting it in its entirety and replacing it with the following:

"(i)Minimum EBITDA.  EBITDA, measured on a fiscal month-end basis, of not less than the required amount set forth in the following table for the applicable period set forth opposite thereto:

	
Applicable Amount
	
Applicable Period

	
$4,662,000
	
For the 12-month period ending January 31, 2005

	
$4,218,000
	
For the 12-month period ending February 28, 2005

	
$3,830,000
	
For the 12-month period ending March 31, 2005

	
$3,690,000
	
For the 12-month period ending April 30, 2005

	
$3,515,000
	
For the 12-month period ending May 31, 2005

	
$3,344,000
	
For the 12-month period ending June 30, 2005

	
$3,755,000
	
For the 12-month period ending July 31, 2005

	
$3,601,000
	
For the 12-month period ending August 31, 2005

	
$3,367,000
	
For the 12-month period ending September 30, 2005

	
$3,433,000
	
For the 12-month period ending October 31, 2005

	
$3,680,000
	
For the 12-month period ending November 30, 2005

	
$3,791,000
	
For the 12-month period ending December 31, 2005

provided, however, that based upon Borrower's Projections delivered to Lender pursuant to Section 6.3(c) no later than December 1, 2005, Lender shall establish monthly EBITDA covenants for each fiscal month after December 2005, and the covenants shall be presented to Borrower for its approval, which approval shall not be unreasonably withheld.  In the event Borrower does not approve the proposed covenants, Lender shall establish such covenants, in its Permitted Discretion, based upon Borrower's Projections for the applicable fiscal year."

	

NO OTHER AMENDMENTS AND WAIVERS.

Except as otherwise expressed herein, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of Lender under the Loan Agreement or any of the other Loan Documents, nor constitute a waiver of any provision of the Loan Agreement or any of the other Loan Documents.  Except for the amendments and waiver set forth above, the text of the Loan Agreement and all other Loan Documents shall remain unchanged and in full force and effect and each Borrower hereby ratifies and confirms its obligations thereunder.  This Amendment shall not constitute a modification of the Loan Agreement or a course of dealing with Lender at variance with the Loan Agreement such as to require further notice by Lender to require strict compliance with the terms of the Loan Agreement and the other Loan Documents in the future, except as expressly set forth herein.  Each Borrower acknowledges and expressly agrees that Lender reserves the right to, and does in fact, require strict compliance with all terms and provisions of the Loan Agreement and the other Loan Documents.  Borrowers have no knowledge of any challenge to Lender's claims arising under the Loan Documents or the effectiveness of the Loan Documents.

	

CONDITIONS PRECEDENT TO EFFECTIVENESS.

This Amendment shall become effective and be deemed effective upon Lender's receipt of each of the following in form and substance acceptable to Lender:

	counterparts of this Amendment duly executed by Borrowers and Lender; and

	such other information, documents, instruments or approvals as Lender or Lender's counsel may reasonably require.

	

REPRESENTATIONS AND WARRANTIES OF BORROWERS.

Each Borrower represents and warrants to Lender as follows:

	Each Borrower is duly organized and existing and in good standing under the laws of the jurisdiction of its organization and qualified to do business in any state where the failure to be so qualified reasonably could be expected to have a Material Adverse Change.

	The execution, delivery, and performance by each Borrower of this Amendment and the Loan Documents to which it is a party, as amended hereby, are within such Borrower's corporate or partnership authority, have been duly authorized by all necessary corporate or partnership action and do not and will not (i) violate any provision of federal, state, or local law or regulation applicable to such Borrower, the Governing Documents of any Borrower, or any order, judgment, or decree of any court or other Governmental Authority binding on any Borrower, (ii) conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under any material contractual obligation of any Borrower, (iii) result in or require the creation or imposition of any Lien of any nature whatsoever upon any properties or assets of any Borrower, other than Permitted Liens, or (iv) require any approval of any Borrower's shareholders, partners, or members or any approval or consent of any Person under any material contractual obligation of any Borrower.

	The execution, delivery, and performance by each Borrower of this Amendment and the Loan Documents to which it is a party, as amended hereby, do not and will not require any registration with, consent, or approval of, or notice to, or other action with or by, any Governmental Authority or other Person.

	This Amendment and each other Loan Document to which each Borrower is a party, and all other documents contemplated hereby and thereby, when executed and delivered by such Borrower will be the legally valid and binding obligations of such Borrower, enforceable against each Borrower in accordance with their respective terms, except as enforcement may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium, or similar laws relating to or limiting creditors' rights generally.

	No Default or Event of Default is existing.

	

MISCELLANEOUS.

	Counterparts.  This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same agreement.  Delivery of an executed counterpart of this Amendment by telefacsimile or by email transmission of an Adobe portable document format file (also known as a "PDF file") shall be equally as effective as delivery of an original executed counterpart of this Amendment.  Any party delivering an executed counterpart of this Amendment by telefacsimile or by email also shall deliver an original executed counterpart of this Amendment but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Amendment.

	Reference to and Effect on the Loan Documents.  Upon the effectiveness of this Amendment, on and after the date hereof each reference in the Loan Agreement to "this Agreement", "hereunder", "hereof" or words of like import referring to the Loan Agreement, and each reference in the other Loan Documents to "the Loan Agreement", "thereunder", "thereof" or words of like import referring to the Loan Agreement, shall mean and be a reference to the Loan Agreement as amended hereby.

	Costs, Expenses and Taxes.  Borrowers agree to pay on demand all reasonable costs and expenses in connection with the preparation, execution, and delivery of this Amendment and the other instruments and documents to be delivered hereunder, including, without limitation, the reasonable fees and out-of-pocket expenses of counsel for Lender with respect thereto and with respect to advising Lender as to its rights and responsibilities hereunder and thereunder.

	Governing Law.  The validity of this Amendment, the construction, interpretation, and enforcement hereof, and the rights of the parties hereto with respect to all matters arising hereunder or related hereto shall be determined under, governed by, and construed in accordance with the laws of the State of Georgia, without regard to the conflicts of law principles thereof.

	Loan Document.  This Amendment shall be deemed to be a Loan Document for all purposes.

[SIGNATURES OMITTED

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