Document:

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                                                                     EXHIBIT 4.2

                                     WAIVER

      THIS WAIVER (this "WAIVER") dated as of February 11, 2005, is executed by
CorrPro Investments, LLC, a Delaware limited liability company ("HOLDER") and
Corrpro Companies, Inc., an Ohio corporation (the "COMPANY"). Capitalized terms
used but not defined herein shall have the meanings set forth in the Articles.

                                 R E C I T A L S

      WHEREAS, Holder is the holder of 13,000 shares of the Series B Cumulative
Redeemable Voting Preferred Stock of the Company, no par value (the "SERIES B
PREFERRED STOCK"), constituting all of the issued and outstanding shares of the
Series B Preferred Stock; and

      WHEREAS, pursuant to the Article FOURTH subparagraph (d)(3)(i) of the
Amended and Restated Articles of Incorporation of the Company (the "ARTICLES"),
Holder is entitled to receive dividends on each share of the Series B Preferred
Stock at the Dividend Rate multiplied by the Liquidation Preference for one
share of Series B Preferred Stock; and

      WHEREAS, the Company has estimated EBITDA as approximately $11.7 million
for the EBITDA Test Period for December 31, 2004; and

      WHEREAS, the Company's estimate of EBITDA indicates an EBITDA Test Failure
has occurred for the December 31, 2004 Dividend Payment Date; and

      WHEREAS, Holder desires to waive the increase in the Dividend Rate with
respect to the Dividend Period ending on March 30, 2005 as a result of the
EBITDA Test Failure for the December 31, 2004 Dividend Payment Date.

      NOW, THEREFORE, in consideration of the premises, the terms and conditions
contained herein and other good and valid consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:

                                A G R E E M E N T

      1.    Waiver. Based on an EBITDA of approximately $11.7 million for the
EBITDA Test Period for December 31, 2004, Holder hereby waives, for all purposes
under the Articles, any increase in the Dividend Rate with respect to the
Dividend Period ending on March 31, 2005 as a result of the EBITDA Test Failure
for the December 31, 2004 Dividend Payment Date.

      2.    Execution. This Waiver may be executed in one or more counterparts,
each of which will be deemed to be an original copy of this Waiver, and all of
which, when taken together, shall be deemed to constitute one and the same
agreement. The exchange of copies of this Waiver and of signature pages by
facsimile transmission shall constitute effective execution and delivery of this
Waiver as to the parties and may be used in lieu of the original Waiver for all
purposes. Signatures of the parties transmitted by facsimile shall be deemed to
be their original signatures for any purpose whatsoever.

      3.    Governing Law. This Waiver shall be governed by, construed,
interpreted and applied in accordance with the laws of the State of Ohio,
without giving effect to any conflict of laws rules that would refer the matter
to the laws of another jurisdiction.

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      4.    Effect of Waiver. No waiver or failure to insist upon strict
compliance with any of the provisions of the Articles (including the waiver
effected hereby) shall be deemed to or shall constitute a waiver of any other
provision thereof (whether or not similar and whether or not based on upon
similar events or circumstances occurring in the future).

      5.    Binding Effect. The provisions hereof shall inure to the benefit of,
and be binding upon, the permitted assigns, successors, heirs, executors and
administrators of the parties hereto. This Waiver may not be assigned without
the written consent of all other parties.

                                    * * * * *

                                      -2-
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      This Waiver has been executed as of the date first written above.

                          CORRPRO INVESTMENTS, LLC

                          By: Wingate Partners III, L.P., its authorized member

                          By: Wingate Management Company III, L.P., its general
                              partner

                          By: Wingate Management Limited III, LLC, its general
                              partner

                          By: /s/ James A. Johnson
                              -------------------------------------------------
                              James A. Johnson
                              Principal

                          CORRPRO COMPANIES, INC.

                          By: /s/ Robert M. Mayer
                              -------------------------------------------------
                              Robert M. Mayer
                              Senior Vice President and Chief Financial Officer

                                      -3-EX-10.26:

 

Exhibit 10.26

GENCORP INC.

1999 EQUITY AND PERFORMANCE INCENTIVE PLAN

Restricted Stock Agreement

                 WHEREAS, ___(the “Grantee”) is [a Director\an employee] of GenCorp Inc. (the
“Company”) [or a Subsidiary]; and

                 WHEREAS, the execution of a restricted stock agreement in the form hereof (the “Agreement”)
has been authorized by a resolution of the Board of Directors (the “Board”) of the Company duly
adopted on ___, ___;

                 NOW, THEREFORE, pursuant to the Company’s 1999 Equity and Performance Incentive Plan (the
“Plan”), the Company grants, as of ___, ___(the “Date of Grant”), to the Grantee
___(___) shares of the Company’s common stock, par value $0.10 per share
(the “Stock”), subject to the terms and conditions of the Plan and the following terms, conditions,
limitations and restrictions:

               1. Issuance of Stock. The Stock covered by this Agreement shall be fully paid and
nonassessable and shall be represented by certificates registered in the name of the Grantee and
bearing a legend referring to the restrictions hereinafter set forth.

               2. Restrictions on Transfer of Stock. The Stock subject to this Agreement may not be
transferred, sold, pledged, exchanged, assigned or otherwise encumbered or disposed of by the
Grantee, except to the Company, until it has become vested in accordance with Section 3; provided,
however, that the Grantee’s interest in the Stock covered by this Agreement may be transferred at
any time by will or the laws of descent and distribution. Any purported transfer, encumbrance or
other disposition of the Stock covered by this Agreement that is in violation of this Section will
be null and void, and the other party to any such purported transaction will not obtain any rights
to or interest in the Stock covered by this Agreement. When and as permitted by the Plan, the
Company may waive the restrictions set forth in this Section with respect to all or any portion of
the Stock covered by this Agreement.

               3. Vesting of Stock. [(a) Provided that the Grantee remains in [continuous service as a
Director of the Company\continuous employment as an employee of the Company or Subsidiary], the
Stock covered by this Agreement will become nonforfeitable on ___.

OR

                 [(a) Provided that the Grantee remains in [continuous service as a Director of the
Company\continuous employment as an employee of the Company or Subsidiary], the Stock covered by
this Agreement will become nonforfeitable in ___increments on the dates which are
___, ___, and ___, respectively, after the Date of Grant.]

                 (b) Notwithstanding the provisions of Subsection (a) of this Section, all of the Stock
covered by this Agreement will become immediately nonforfeitable upon the occurrence of a change in
control of the Company that shall occur while the Grantee is [a Director\an employee] of the
Company. For the purposes of this Agreement, the term “change in control” will have the meaning
given such term under the Plan as in effect on the Date of Grant.

               4. Forfeiture of Stock. Any of the Stock covered by this Agreement that has not become
vested in accordance with Section 3 will be forfeited unless the Board determines to provide
otherwise. In the event of a forfeiture, the certificates representing all of the Stock covered by
this Agreement that has not become vested in accordance with Section 3 shall be cancelled.

               5. Dividend, Voting and Other Rights. The Grantee will have all of the rights of a
shareholder with respect to the Stock covered by this Agreement, including the right to vote the
Stock and receive any dividends that may be paid thereon. Any additional Stock that the Grantee
may become entitled to receive pursuant to a share dividend or a merger or reorganization in which
the Company is the surviving Company or any other change in the capital structure of the Company
will be subject to the same restrictions as the Stock covered by this Agreement.

 

               6. Retention of Share Certificates by Company. The certificates representing the Stock
covered by this Agreement will be held in custody by the Company until those shares have become
vested in accordance with Section 3.

               7. Compliance with Law. The Company will make reasonable efforts to comply with all
applicable federal and state securities laws; provided, however, notwithstanding any other
provision of this Agreement, the Company will not be obligated to issue any restricted or
unrestricted Stock pursuant to this Agreement if the issuance thereof would result in a violation
of any such law.

               8. Adjustments. The Board will make any adjustments in the number or kind of shares of
stock or other securities covered by this Agreement that the Board may determine to be equitably
required to prevent any dilution or enlargement of the Grantee’s rights under this Agreement that
would result from any (a) stock dividend, stock split, combination of shares, recapitalization or
other change in the capital structure of the Company, (b) merger, consolidation, spin-off,
spin-out, split-off, split-up, reorganization, partial or complete liquidation or other
distribution of assets, issuance of rights or warrants to purchase securities or (c) other
corporate transaction or event having an effect similar to any of the foregoing.

               9. Withholding. To the extent that the Company [or a Subsidiary] is required to
withhold federal, state, local or foreign taxes in connection with any issuance of restricted or
unrestricted Stock or other securities pursuant to this Agreement, and the amounts available to the
Company [or a Subsidiary] for such withholding are insufficient, it will be a condition to the
receipt of such Stock that the Grantee make arrangements satisfactory to the Company [or
Subsidiary] for payment of the balance of such taxes required to be withheld. If necessary, the
Board may require relinquishment of a portion of such Stock to cover the payment of taxes.

               10. Employment Rights. The Plan and this Agreement will not confer upon the Grantee
any right with respect to [the continuance of service as a Director of the Company\employment with
the Company or Subsidiary].

               11. Relation to Other Benefits. Any economic or other benefit to the Grantee under
this Agreement will not be taken into account in determining any benefits to which the Grantee may
be entitled under any profit-sharing, retirement or other benefit or compensation plan maintained
by the Company or a Subsidiary and shall not affect the amount of any life insurance coverage
available to any beneficiary under any life insurance plan covering employees of the Company or a
Subsidiary.

               12. Agreement Subject to the Plan. The Stock granted under this Agreement and all of
the terms and conditions hereof are subject to all of the terms and conditions of the Plan. In the
event of any inconsistency between this Agreement and the Plan, the terms of the Plan will govern.

               13. Amendments. Any amendment to the Plan will be deemed to be an amendment to this
Agreement to the extent that the amendment is applicable hereto; provided, however, that no
amendment will adversely affect the rights of the Grantee under this Agreement without the
Grantee’s consent.

               14. Severability. In the event that one or more of the provisions of this Agreement is
invalidated for any reason by a court of competent jurisdiction, any provision so invalidated shall
be deemed to be separable from the other provisions hereof, and the remaining provisions hereof
will continue to be valid and fully enforceable.

               15. Governing Law. This Agreement will be construed and governed in accordance with
the laws of the State of Ohio.

               16. Certain Defined Terms. In addition to the terms defined elsewhere herein, when
used in the Agreement, terms with initial capital letters have the meaning given such term under
the Plan, as in effect from time to time.

          This Agreement is executed as of the ___day of ___, ___.

    	 	 
	 	GENCORP INC

	 	 
	 	By:_____________________________

          The undersigned Grantee hereby acknowledges receipt of an executed original of this Restricted
Stock Agreement and accepts the right to receive the Stock subject to the terms and conditions of
the Plan and the terms and conditions herein above set forth.

__________________________________

Grantee

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