Document:

<PAGE>
                                                                   EXHIBIT 10.4

                            INDEMNIFICATION AGREEMENT

         INDEMNIFICATION AGREEMENT, dated as of May 31, 2002 (this "Agreement"),
by and among Goodrich Corporation, a New York corporation ("Goodrich"), EnPro
Industries, Inc., a North Carolina corporation ("EnPro"), Coltec Industries Inc,
a Pennsylvania corporation ("Coltec"), and Coltec Capital Trust, a Delaware
statutory trust ("Coltec Capital Trust").

                               W I T N E S S E T H

         WHEREAS, Goodrich contemplates spinning off its EnPro subsidiary, of
which Coltec will be a subsidiary, through a distribution of EnPro stock to
Goodrich shareholders (the "Distribution");

         WHEREAS, Coltec owns all of the common equity securities of Coltec
Capital Trust, which is the issuer of a class of 5 1/4% Convertible Preferred
Securities - Term Income Deferred Equity Securities ("TIDES")*;

         WHEREAS, in connection with the acquisition of Coltec by Goodrich,
Goodrich executed a Guarantee Agreement, dated as of July 12, 1999 (the
"Goodrich Guarantee Agreement"), pursuant to which Goodrich guaranteed certain
obligations of Coltec and Coltec Capital Trust under the TIDES and related
agreements, and executed a Supplemental Indenture, dated as of July 12, 1999
(the "Supplemental Indenture"), pursuant to which the TIDES became convertible
into the common stock of Goodrich, par value $5 per share ("Goodrich Common
Stock");

         WHEREAS, prior to the consummation of the Distribution and in
connection therewith, EnPro will execute a Guarantee Agreement, dated as of May
31, 2002 (the "EnPro Guarantee Agreement") pursuant to which EnPro will
guarantee certain obligations of Coltec and Coltec Capital Trust under the TIDES
and related agreements; and

         WHEREAS, the parties agree that, subsequent to the Distribution, EnPro,
Coltec, and Coltec Capital Trust shall be exclusively responsible for the
fulfillment of all obligations of Coltec and Coltec Capital Trust under the
TIDES and the related agreements and that Goodrich shall be held harmless from
any liabilities arising under the TIDES and the related agreements.

         NOW, THEREFORE, in consideration of the mutual promises herein
contained and for other good and valuable consideration, and intending to be
legally bound, the parties hereto agree as follows:

         1.   Indemnification. Subject to the other provisions of this Agreement
and subject to and conditioned upon the consummation of the Distribution, EnPro,
Coltec, and Coltec

--------------
* The terms Term Income Deferrable Equity Securities and TIDES are registered
service marks of Credit Suisse First Boston Corporation.

<PAGE>

Capital Trust (collectively, the "Indemnifying Parties") shall indemnify
Goodrich, its affiliates and each of its officers, directors, employees, agents,
representatives, successors and assigns (collectively, the "Indemnified
Parties") against and hold such Indemnified Parties harmless from any and all
losses, liabilities, claims, damages, costs, expenses, penalties and fines
(including, without limitation, amounts paid in settlement, reasonable costs of
investigation and reasonable attorneys' fees and expenses) that any of the
Indemnified Parties are required to pay or incur pursuant to the Goodrich
Guarantee Agreement or the Supplemental Indenture. For the purpose of the
preceding sentence, in the event that Goodrich is required to issue Goodrich
common stock as a result of the conversion of a TIDES, the cost to Goodrich of
such issuance shall be deemed to be the fair market value of such common stock
on the date of such conversion.

         2.   Indemnification Procedure.

         (a) Promptly after receipt by an Indemnified Party of notice by a third
party of any complaint or the commencement of any action or proceeding with
respect to which indemnification may be sought hereunder, such Indemnified Party
will notify the Indemnifying Parties of such complaint or of the commencement of
such action or proceeding. The Indemnifying Parties may, at their discretion,
assume the defense of such action or proceeding, including the employment of
counsel and the payment of the fees and disbursements of such counsel. In the
event, however, that (i) the Indemnifying Parties fail to assume the defense of
the action or proceeding in a timely manner or (ii) the nature of any claim
presents a conflict of interest between the Indemnified Party and the
Indemnifying Parties, then such Indemnified Party may assume and control its own
defense, and the Indemnifying Party shall be liable for all reasonable costs and
expenses paid or incurred by the Indemnified Party in connection therewith. In
any action or proceeding with respect to which indemnification may be sought
hereunder, the Indemnified Parties or the Indemnifying Parties, whichever are
not assuming the defense of such action, as the case may be, will have the right
to participate in such litigation and to retain its own counsel at such party's
own expense. The Indemnified Parties or the Indemnifying Parties, as the case
may be, shall at all times use reasonable efforts to keep the Indemnifying
Parties or the Indemnified Parties, as the case may be, reasonably apprised of
the status of the defense of any claim the defense of which they are
maintaining.

         (b) No Indemnified Party may settle or compromise any claim with
respect to which indemnification is being sought hereunder without the prior
written consent of the Indemnifying Parties, which consent shall not be
unreasonably withheld; provided, however, that no such consent shall be required
in the case of any performance by Goodrich of its obligations under the Goodrich
Guarantee Agreement. The Indemnifying Parties may not, without the prior written
consent of the Indemnified Parties, settle or compromise or consent to the entry
of any judgment in any claim with respect to which indemnification is being
sought hereunder unless such settlement, compromise or consent includes an
unconditional release of the Indemnified Party from all liability arising out of
such claim.

         (c) In the event that an Indemnified Party shall claim a right to
payment pursuant to this Agreement, such Indemnified Party shall send written
notice of such claim to the Indemnifying Parties. Such notice shall specify the
basis for such claim.

                                       2
<PAGE>

         3.   Representations and Warranties of the Indemnifying Parties. The
Indemnifying Parties hereby represent and warrant to Goodrich that this
Agreement has been duly authorized, executed and delivered by the Indemnifying
Parties and is the legal, valid and binding agreement of the Indemnifying
Parties, enforceable against the Indemnifying Parties in accordance with its
terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium
or other laws relating to or affecting the rights and remedies of creditors
generally and to general principles of equity (regardless of whether in equity
or at law).

         4.   Representations and Warranties of Goodrich. Goodrich hereby
represents and warrants to the Indemnifying Parties that this Agreement has been
duly authorized, executed and delivered by Goodrich, and is the legal, valid and
binding agreement of Goodrich, enforceable against Goodrich in accordance with
its terms, subject to applicable bankruptcy, insolvency, reorganization,
moratorium or other laws relating to or affecting the rights and remedies of
creditors generally and to general principles of equity (regardless of whether
in equity or at law).

         5.   Coltec Call Rights on Goodrich Stock.

         (a)  For the purposes of this Agreement:

                           (i) "Closing Price" for each Trading Day shall be the
last reported sale price regular way, during regular trading hours, or, in case
no such reported sale takes place on such day, the average of the closing bid
and asked prices regular way, during regular trading hours, for such day, in
each case on the New York Stock Exchange or, if not listed or quoted on such
market, on the principal national securities exchange on which the shares of the
subject security are listed or admitted to trading or, if not listed or admitted
to trading on a national securities exchange, the last sale price regular way
for the subject security as published by the National Association of Securities
Dealers Automated Quotation System ("NASDAQ") or, if such last sale price is not
so published by NASDAQ or if no such sale takes place on such day, the mean
between the closing bid and asked prices for the subject security as published
by NASDAQ. If the subject security is not publicly held or so listed or publicly
traded, "Closing Price" shall mean the fair market value per share as determined
in good faith by the Board of Directors of Goodrich or, if such determination
cannot be made, by a nationally recognized independent investment banking firm
selected in good faith by the Board of Directors of Goodrich.

                           (ii) "Current Market Price" per share of the subject
security on any date shall be deemed to be the Closing Price on the Trading Day
immediately preceding such date.

                           (iii) "Trading Day" shall mean a day on which the
securities exchange utilized for the purpose of calculating the Closing Price
shall be open for business or, if the shares of the subject security shall not
be listed on such exchange during such period, a day on which The Nasdaq Stock
Market is open for business.

         (b)   In the event that Coltec or EnPro become obligated (either
directly as a result of their guarantees of the TIDES obligations or indirectly
through an obligation of Coltec

                                       3
<PAGE>

Capital Trust) to supply shares of Goodrich Common Stock to a holder of TIDES (a
"Holder") as a result of the conversion of a TIDES subsequent to the
consummation of the Distribution, and it is not reasonably practicable for
Coltec or EnPro, as the case may be, to obtain the necessary shares of Goodrich
Common Stock through any other means, Coltec or EnPro, as the case may be, shall
have the right to purchase from Goodrich such shares of Goodrich Common Stock at
a price per share (the "Exercise Price") equal to the Current Market Price of
Goodrich Common Stock on the date that the Conversion Agent received the Notice
of Conversion from the Holder (as such terms are defined in the TIDES
Indenture).

(c) Coltec or EnPro, as the case may be, may exercise its call rights pursuant
to this Section 6 on one or more occasions by completing an Election to
Purchase, in substantially the form attached hereto, by duly executing the same,
and by delivering the same, together with payment in full of the Exercise Price
multiplied by the number of shares of Goodrich Common Stock being purchased, in
lawful money of the United States of America, in cash or by certified or
official bank check or by bank wire transfer, to Goodrich.

(d) Upon receipt of the Election to Purchase and the payment specified by
subsection (c), Goodrich shall, as soon as reasonably practicable, issue the
shares of Goodrich Common Stock specified on the Election to Purchase, such
shares to be registered in the name of the converting Holder as such name is
designated on the Election to Purchase, and such shares to be validly registered
under the Securities Exchange Act of 1933 under a then-effective registration
statement.

         6.   Goodrich Right to Make Payments.

         (a)   In the event that Coltec, or EnPro pursuant to its obligations
under the EnPro Guarantee Agreement, intends not to make any payment to Coltec
Capital Trust that Coltec or EnPro, as the case may be, is obligated to make, or
fails to make any such payment (and such failure or intended omission gives or
will give rise to any claim by Coltec Capital Trust or any other person against
Goodrich pursuant to the Goodrich Guarantee Agreement), Coltec or EnPro, as the
case may be, shall notify Goodrich of such intention or failure as soon as
reasonably practicable. Goodrich shall have the option, but not the obligation,
to make any payment to Coltec Capital Trust that Coltec or EnPro, as the case
may be, failed to make. The Indemnifying Parties shall be obligated to reimburse
Goodrich for any costs and expenses incurred by Goodrich pursuant to this
Section 6(a), including the amount of any payments made by Goodrich to Coltec
Capital Trust.

         (b)   In the event that Coltec Capital Trust intends not to make any
payment or distribution to the Holders that Coltec Capital Trust will be
obligated to make, or fails to make any such obligatory payment or distribution,
Coltec Capital Trust shall notify Goodrich of such intention or failure as soon
as reasonably practicable. Goodrich shall have the option, but not the
obligation, to make any payment or distribution to the Holders that Coltec
Capital Trust failed to make. The Indemnifying Parties shall be obligated to
reimburse Goodrich for any costs and expenses incurred by Goodrich pursuant to
this Section 6(b), including the amount of any payments or distributions made by
Goodrich to the Holders.

                                       4
<PAGE>

         7.   Notices. Unless specified otherwise in this Agreement, all
requests, notices or other communications hereunder shall be in writing and
shall be given or made (and shall be deemed to have been duly given or made upon
receipt) by delivery in person, by courier service, by telecopy or telegram, or
upon electronic transmission, if sent via facsimile (with confirmation of
receipt without error), to the respective Parties at the following addresses:

         (a)   if to Goodrich:

               Goodrich Corporation
               Four Coliseum Centre
               2730 West Tyvola Road
               Charlotte, North Carolina  28217
               Facsimile: (704) 423-7059
               Attention:  Treasurer

         (b)   if to any of the Indemnified Parties:

               EnPro Industries, Inc.
               5605 Carnegie Boulevard, Suite 500
               Charlotte, North Carolina  28209-4674
               Fax:  (704) 731-1531
               Attention:  General Counsel and Treasurer

               with a copy to:

               Robinson, Bradshaw & Hinson P.A.
               101 North Tryon Street, Suite 1900
               Charlotte, North Carolina  28246-1900
               Fax:  (704) 378-4000
               Attention:  Stephen M. Lynch, Esq.

         8.   Miscellaneous. Nothing in this Agreement is intended to or shall
confer upon anyone other than the parties hereto any legal or equitable right,
remedy or claim. This Agreement shall be governed by, and its provisions
construed in accordance with, the laws of the State of New York applicable to
contracts made and to be wholly performed within such state and may be modified
only in writing signed by each of the parties hereto. This Agreement may be
executed simultaneously in two or more counterparts, each of which shall be
deemed an original, and all such counterparts shall constitute one and the same
instrument. Paragraph headings contained in this Agreement are solely for
convenience of reference and shall not affect the meaning or interpretation of
any term or provision hereof.

         9.   Severability. If any provision of this Agreement or the
application of any such provision to any person or circumstance shall be held
invalid, illegal or unenforceable in any respect by a court of competent
jurisdiction, such invalidity, illegality or unenforceability shall not affect
any other provision hereof.

                                       5
<PAGE>

         10.   Governing Law. This Agreement shall be governed by and construed
in accordance with the laws of the State of New York without reference to the
choice of law principles thereof.

                                       6
<PAGE>

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

                                     GOODRICH CORPORATION

                                     By:      /s/  Scott E. Kuechle
                                        ----------------------------------------
                                        Name:  Scott E. Kuechle
                                        Title: Vice President & Treasurer

                                     ENPRO INDUSTRIES, INC.

                                     By:       /s/  Richard L. Magee
                                        ----------------------------------------
                                        Name:  Richard L. Magee
                                        Title: Senior Vice President & Secretary

                                     COLTEC INDUSTRIES INC

                                     By:    /s/  Scott E. Kuechle
                                        ----------------------------------------
                                        Name:  Scott E. Kuechle
                                        Title: Vice President & Treasurer

                                     COLTEC CAPITAL TRUST

                                     By:    /s/  Kenneth L. Wagner
                                        ----------------------------------------
                                        Name:  Kenneth L. Wagner
                                        Title:  Trustee

                                       7
<PAGE>

                          FORM OF ELECTION TO PURCHASE

Goodrich Corporation
Four Coliseum Centre
2730 West Tyvola Road
Charlotte, North Carolina  28217
Attn: _________________

         Reference is made to the Indemnification Agreement, dated as of January
__, 2002, by and among Goodrich Corporation, EnPro Industries, Inc., and Coltec
Industries Inc (the "Agreement"). Unless otherwise defined, all capitalized
terms herein shall have the meanings ascribed thereto in the Agreement.

         The undersigned hereby irrevocably elects to exercise the right to
purchase ______ shares of Goodrich Common Stock in connection with the
conversion of _______ TIDES by the Holder identified below. The applicable
Notice of Conversion was received by the Conversion Agent (as such terms are
defined in the TIDES Indenture) on ______________. Accordingly, the Exercise
Price is $_____, and the sum of $________ is being contemporaneously delivered
to Goodrich in accordance with the terms of the Agreement. The undersigned
certifies that it is not reasonably practicable for the undersigned to obtain
the necessary shares of Goodrich Common Stock through any means other than this
Election to Purchase, and understands that the shares of Goodrich Common Stock
purchased hereby will be issued in the name of the Holder identified below.

                                                     ENPRO INDUSTRIES, INC.

                                                     By:
                                                          ----------------------
                                                          Name:
                                                          Title:

CONVERTING HOLDER

(please type name and address, including zip code and social security or other
identifying number of the converting Holder, as such information was set forth
in such Holder's Notice of Conversion)

__________________
__________________
__________________
__________________

                                       8<PAGE>
                                                                   EXHIBIT 10.5

    ------------------------------------------------------------------------

                             CONTRIBUTION AGREEMENT

    ------------------------------------------------------------------------

                                 by and between

                              GOODRICH CORPORATION

                                       and

                             ENPRO INDUSTRIES, INC.

                  --------------------------------------------

                            DATED AS OF MAY 31, 2002

                  --------------------------------------------

<PAGE>
                               TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                               Page
<S>      <C>      <C>                                                                                          <C>
1.       DEFINITIONS.............................................................................................1

         1.1      "1933 Act".....................................................................................1

         1.2      "Aerospace Segment"............................................................................1

         1.3      "Affiliate"....................................................................................1

         1.4      "Agreement"....................................................................................1

         1.5      "Closing"......................................................................................2

         1.6      "Closing Date".................................................................................2

         1.7      "Coltec".......................................................................................2

         1.8      "Coltec Stock".................................................................................2

         1.9      "Coltec Entities"..............................................................................2

         1.10     "Company"......................................................................................2

         1.11     "Company Stock"................................................................................2

         1.12     "Contributed Assets"...........................................................................2

         1.13     "Distribution".................................................................................2

         1.14     "EIP Segment"..................................................................................2

         1.15     "Governmental Authority".......................................................................2

         1.16     "Laws".........................................................................................2

         1.17     "Lien".........................................................................................2

         1.18     "Losses".......................................................................................3

         1.19     "Parent".......................................................................................3

         1.20     "Permitted Liens"..............................................................................3

         1.21     "Person".......................................................................................3

         1.22     "Plan of Reorganization".......................................................................3

         1.23     "Promissory Note"..............................................................................3

2.       CONTRIBUTION OF THE CONTRIBUTED ASSETS; ISSUANCE OF COMPANY STOCK.......................................3

         2.1      Contribution of the Contributed Assets.........................................................3

         2.2      Issuance of Company Stock......................................................................3

3.       CLOSING.................................................................................................3

         3.1      General........................................................................................3

         3.2      Documents to be Delivered by Parent............................................................4
</TABLE>

<PAGE>

<TABLE>
<S>     <C>      <C>                                                                                          <C>
        3.3      Documents to be Delivered by the Company........................................................4

4.       REPRESENTATIONS AND WARRANTIES..........................................................................4

         4.1      Representation and Warranties of Parent........................................................4

         4.2      Representations and Warranties of the Company..................................................5

5.       CONDITIONS TO CLOSING...................................................................................6

         5.1      Condition Precedent to the Company's Obligations...............................................6

         5.2      Condition Precedent to Parent's Obligations....................................................6

6.       INDEMNIFICATION.........................................................................................7

         6.1      Indemnification by the Company.................................................................7

         6.2      Indemnification by Parent......................................................................7

7.       MISCELLANEOUS...........................................................................................7

         7.1      Termination....................................................................................7

         7.2      Amendment......................................................................................7

         7.3      Notices........................................................................................7

         7.4      Waivers........................................................................................8

         7.5      Assignment.....................................................................................8

         7.6      Complete Agreement.............................................................................8

         7.7      Governing Law..................................................................................8

         7.8      Severability...................................................................................8

         7.9      Captions; References; Construction.............................................................8

         7.10     Parties in Interest............................................................................8

         7.11     Expenses.......................................................................................9

         7.12     Counterparts...................................................................................9
</TABLE>

                              ANNEXES AND SCHEDULES

      Annex A              Plan of Reorganization
      Annex B              Form of Promissory Note

      Schedule 1.9         Coltec Entities

                                       ii

<PAGE>

                             CONTRIBUTION AGREEMENT

         Contribution Agreement, dated as of May 31, 2002 (this "AGREEMENT"), by
and between Goodrich Corporation, a New York corporation ("PARENT"), and EnPro
Industries, Inc., a North Carolina corporation (the "COMPANY").

                                    RECITALS:

         A. Parent and the Company have entered into an Agreement and Plan of
Corporate Separation and Reorganization, dated as of May 20, 2002 (the "PLAN OF
REORGANIZATION"), attached hereto as ANNEX A.

         B. Parent is a diversified global enterprise engaged directly and
indirectly in an aerospace segment (the "AEROSPACE SEGMENT") and indirectly
through its wholly owned subsidiary, Coltec Industries Inc, a Pennsylvania
corporation ("COLTEC"), in an engineered industrial products segment ("EIP
SEGMENT").

         C. Parent desires to separate the Aerospace Segment from the EIP
Segment.

         D. The Company desires, pursuant to the Plan of Reorganization, to
acquire from Parent the Contributed Assets, and in full consideration and
exchange therefor is willing to issue to Parent the Company Stock upon the terms
and subject to the conditions set forth in this Agreement.

         E. Parent desires, pursuant to the Plan of Reorganization, to
contribute and transfer the Contributed Assets to the Company in full
consideration and in exchange for the Company Stock upon the terms and subject
to the conditions set forth in this Agreement.

                                   AGREEMENT:

         NOW, THEREFORE, in consideration of the foregoing, the representations,
warranties, covenants and undertakings contained in this Agreement and other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Parent and the Company hereby agree as follows:

1.      DEFINITIONS

         1.1 "1933 ACT" means the Securities Act of 1933, as amended.

         1.2 "AEROSPACE SEGMENT" has the meaning set forth in the recitals to
this Agreement.

         1.3 "AFFILIATE" has the meaning ascribed thereto in Rule 405
promulgated under the 1933 Act.

         1.4 "AGREEMENT" has the meaning set forth in the preamble to this
Agreement.
<PAGE>

         1.5  "CLOSING" has the meaning set forth in SECTION 3.1.

         1.6  "CLOSING DATE" has the meaning set forth in SECTION 3.1.

         1.7  "COLTEC" has the meaning set forth in the recitals to this
Agreement.

         1.8  "COLTEC STOCK" means all of the issued and outstanding shares of
capital stock of Coltec.

         1.9  "COLTEC ENTITIES" means Coltec and all of the direct and indirect
subsidiaries of Coltec listed on SCHEDULE 1.9.

         1.10 "COMPANY" has the meaning set forth in the preamble to this
Agreement.

         1.11 "COMPANY STOCK" means an amount of shares of common stock of the
Company, $0.01 par value, equal to the difference of (x) the number of shares of
common stock of the Company equal to one fifth of the number of shares of common
stock of the Parent outstanding on the record date for the Distribution,
including any fraction of a share of common stock of the Company, minus (y)
1,000 shares of common stock of the Company.

         1.12 "CONTRIBUTED ASSETS" means all of Parent's right, title and
interest in and to

                  (a) the Coltec Stock, and

                  (b) the Promissory Note.

         1.13 "DISTRIBUTION" means the distribution by the Parent of one share
of the common stock of the Company for each five shares of common stock of the
Parent held by such stockholders on the record date for such distribution, which
is to be effected pursuant to the terms and subject to the conditions of the
Distribution Agreement dated as of May [24], 2002 between the Parent, the
Company and Coltec.

         1.14 "EIP SEGMENT" has the meaning set forth in the recitals to this
Agreement.

         1.15 "GOVERNMENTAL AUTHORITY" means any federal, state, local or
foreign government or any subdivision, agency, instrumentality, authority,
department, commission, board or bureau thereof or any federal, state, local or
foreign court or tribunal.

         1.16 "LAWS" means all federal, state, local or foreign statutes, laws
and ordinances, and all rules and regulations promulgated thereunder.

         1.17 "LIEN" means and includes any security interest, hypothecation,
lien, encumbrance, mortgage, pledge, equity, charge, assessment, easement,
covenant, restriction, reservation, defect in title, encroachment, condemnation
proceeding or other burden or conflicting interest.

                                       2
<PAGE>

         1.18 "LOSSES" means any and all claims, actions, suits, demands,
assessments, judgments, losses, liabilities, damages, costs and expenses
(including interest, penalties, attorneys' fees, accounting fees and
investigation costs).

         1.19 "PARENT" has the meaning set forth in the preamble to this
Agreement.

         1.20 "PERMITTED LIENS" means all Liens for taxes, assessments or other
governmental charges or levies not yet due and payable.

         1.21 "PERSON" means any individual, partnership, joint venture,
corporation, limited liability company, trust, unincorporated organization,
Governmental Authority, or other legal entity.

         1.22 "PLAN OF REORGANIZATION" has the meaning set forth in the recitals
to this Agreement.

         1.23 "PROMISSORY NOTE" means the promissory note in the original
aggregate principal amount of $205 million from Coltec to Goodrich in
substantially the form attached hereto as ANNEX B.

2.      CONTRIBUTION OF THE CONTRIBUTED ASSETS; ISSUANCE OF COMPANY STOCK

         2.1  Contribution of the Contributed Assets. At the Closing, the
Company shall acquire from Parent, and Parent shall contribute, transfer,
convey, assign and deliver to the Company, the Contributed Assets on a going
concern basis, free and clear of all Liens or claims, other than Permitted
Liens.

         2.2  Issuance of Company Stock. At the Closing, the Company shall issue
and deliver to Parent, and Parent shall acquire, the Company Stock.

3.      CLOSING

         3.1 General. As used in this Agreement, the "CLOSING" means the time at
which Parent consummates the contribution, transfer, conveyance, assignment and
delivery of the Contributed Assets to the Company as provided in this Agreement
by the execution and delivery by Parent of the documents and instruments
referred to in SECTION 3.2 against delivery by the Company of the documents and
instruments referred to in SECTION 3.3. In the absence of a prior termination of
this Agreement by one of the parties in accordance with SECTION 7.1, the Closing
will take place at the offices of Goodrich Corporation, Four Coliseum Centre,
2730 West Tyvola Road, Charlotte, North Carolina 28217-4578, at 5:00 p.m.
(Eastern Time) on May 31, 2002, (or as soon as practicable after such date as
all the conditions to the obligations of the respective parties set forth in
ARTICLE 5 are satisfied or waived) or at such other time and place and on such
other day as is mutually agreed upon in writing by the parties to this Agreement
(the "CLOSING DATE"). Legal title, equitable title and risk of loss with respect
to the Contributed Assets will not pass to the Company until the Contributed
Assets are transferred at the Closing, which transfer,

                                       3
<PAGE>

once it has occurred, will be deemed effective for tax, accounting and other
computational purposes as of 10:59 p.m. (Eastern Time) on the Closing Date.

         3.2 Documents to be Delivered by Parent. At the Closing, Parent shall
deliver to the Company:

             (a) The Promissory Note, duly endorsed in favor of the Company;

             (b) Certificate(s) representing all of the Coltec Stock, duly
endorsed in blank or with duly executed stock powers;

             (c) The minute books, stock books, stock ledgers, and corporate
seal, or equivalent corporate records, of each Coltec Entity; and

             (d) Copies of resolutions adopted by the Parent's Board of
Directors authorizing the transactions contemplated by this Agreement.

         3.3 Documents to be Delivered by the Company. At the Closing, the
Company shall deliver to Parent:

             (a) Certificate(s) representing the Company Stock, duly endorsed
in blank or with any executed stock power(s); and

             (b) Copies of resolutions adopted by the Company's Board of
Directors authorizing the transactions contemplated by this Agreement.

4.      REPRESENTATIONS AND WARRANTIES

         4.1 Representation and Warranties of Parent. Parent hereby represents
and warrants to the Company that, as of the date of this Agreement:

             (a) Organization. Parent is a corporation duly incorporated,
validly existing and in good standing under the Laws of the State of New York.

             (b) Validity of Agreement. This Agreement constitutes the legal,
valid and binding obligation of Parent and is enforceable against Parent in
accordance with its terms. Parent has the corporate power and authority to
enter into this Agreement and to undertake and perform fully the transactions
contemplated hereby. All necessary corporate action has been taken by and on
behalf of Parent with respect to the authorization, execution, delivery and
performance of this Agreement.

             (c) No Conflicts. Neither the execution and delivery nor the
performance by Parent of this Agreement will (i) violate or conflict with the
organizational documents of Parent, (ii) result in a material violation of or a
material breach of or a material conflict with any applicable Laws of any
Governmental Authority applicable to Parent, the Contributed Assets or any of
the Coltec Entities, (iii) violate, conflict with, result in a material breach
of, constitute a material default under, or permit the acceleration of any
material obligations of Parent, or

                                       4
<PAGE>

(iv) result in the creation or imposition in favor of any Person of any Liens or
claims upon the Contributed Assets or the assets of any of the Coltec Entities.

                  (d) Contributed Assets. At the Closing, the Company will
acquire good and marketable title to the Contributed Assets, in each case free
and clear of any and all Liens or claims, other than Permitted Liens.

                  (e) Capitalization of the Coltec Entities. SCHEDULE 1.9 sets
forth the capitalization of each Coltec Entity and all corporations or other
legal entities of which any Coltec Entity controls or owns, directly or
indirectly, more than 50% of the stock or other equity interest entitled to vote
in the election of directors or similar governing body. All of the outstanding
shares of capital stock or membership or other equity interests, as applicable,
of each Coltec Entity have been validly issued, are fully paid and
nonassessable, and are owned by Parent either directly or indirectly through
another Coltec Entity, free and clear of all Liens or claims. There are no
outstanding options, warrants or rights to subscribe for, securities or rights
convertible into or exchangeable for, or other contracts or commitments by which
any Coltec Entity is or may be required to issue, sell, transfer or otherwise
dispose of additional shares of capital stock, subscription obligations,
conversion rights or other rights of any kind relating to the sale, issuance or
voting of any shares of capital stock of any class of, or other ownership
interests in, any Coltec Entity or any securities convertible into or evidencing
the right to purchase any shares of capital stock of any class of, or other
ownership interests in, any Coltec Entity. There are no contracts, commitments,
understandings or arrangements by which Parent or any Coltec Entity is or may be
obligated to transfer any shares of the capital stock of any Coltec Entity.
Except for interests in other Coltec Entities, no Coltec Entity owns, directly
or indirectly, any interest or investment (whether equity or debt) in,
participate in the management of or share in the profits or losses, however
determined, of any corporation, partnership, joint venture, business, trust or
other entity.

         4.2      Representations and Warranties of the Company. The Company
                  represents and warrants to Parent as of the date of this
                  Agreement as follows:

                  (a) Organization, Power and Authority. The Company is a
corporation duly incorporated, validly existing and in good standing under the
Laws of the State of North Carolina.

                  (b) Validity of Agreement. This Agreement constitutes the
legal, valid and binding obligation of the Company and is enforceable against
the Company in accordance with its terms. The Company has the power and
authority to enter into this Agreement and to undertake and perform fully the
transactions contemplated hereby. All necessary action has been taken by and on
behalf of the Company with respect to the authorization, execution, delivery and
performance of this Agreement.

                  (c) No Conflicts. Neither the execution and delivery nor the
performance by the Company of this Agreement will (i) violate or conflict with
the organizational documents of the Company, (ii) result in a material violation
of or a material breach of or a material conflict with any applicable Laws of
any Governmental Authority applicable to the Company, (iii) violate,

                                       5
<PAGE>

conflict with, result in a material breach of, constitute a material default
under, or permit the acceleration of any material obligations of the Company, or
(iv) result in the creation or imposition of any Liens or claims in favor of any
Person upon any asset of the Company.

                  (d) Company Stock. Upon issuance of the Company Stock to
Parent, the Company Stock will be duly authorized, validly issued, fully paid
and nonassessable, and will be held of record by Parent free and clear of all
Liens or claims, other than Liens arising through Parent.

                  (e) Investment Intent. The Coltec Stock and the Promissory
Note being acquired by the Company are for the Company's own account and are not
being purchased with the view to, or for resale in connection with, any
distribution or public offering thereof within the meaning of the 1933 Act. The
Company understands that the Coltec Stock and the Promissory Note have not been
registered under the 1933 Act by reason of their issuance in transactions exempt
from the registration and prospectus delivery requirements of the 1933 Act
pursuant to Section 4(2) thereof. The Company further understands that the
certificate(s) evidencing the Coltec Stock and the Promissory Note will each
bear a legend substantially as follows, and agrees that it will hold the Coltec
Stock and the Promissory Note subject thereto:

                  THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED
                  UNDER THE SECURITIES ACT OF 1933 AND MAY NOT UNDER ANY
                  CIRCUMSTANCES BY SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF
                  WITHOUT AN EFFECTIVE REGISTRATION STATEMENT FOR SUCH
                  SECURITIES UNDER THE SECURITIES ACT OF 1933 AND ANY APPLICABLE
                  STATE SECURITIES LAWS OR AN OPINION OF COUNSEL SATISFACTORY TO
                  THE ISSUER THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR
                  APPLICABLE STATE SECURITIES LAWS.

5.      CONDITIONS TO CLOSING

         5.1 Condition Precedent to the Company's Obligations. The obligation of
the Company to consummate the transactions provided for by this Agreement is
subject to the satisfaction, on or prior to the Closing Date, of the following
condition, which may be waived by the Company:

              (a) Parent has delivered or caused to be delivered to the Company
the documents and instruments set forth in SECTION 3.2.

         5.2 Condition Precedent to Parent's Obligations. The obligation of
Parent to consummate the transactions provided for by this Agreement is subject
to the satisfaction, on or prior to the Closing Date, of the following
condition, which may be waived by Parent:

              (a) The Company has delivered or caused to be delivered to Parent
the documents and instruments set forth in SECTION 3.3.

                                       6
<PAGE>

6.      INDEMNIFICATION

         6.1 Indemnification by the Company. From and after the Closing, the
Company shall indemnify, defend and hold Parent, its Affiliates, and their
respective directors, officers, representatives, employees and agents harmless
from and against any and all Losses that may be incurred by Parent resulting or
arising from or related to, or incurred in connection with any breach of any
representation, warranty, covenant, obligation or agreement of the Company
contained in SECTION 4.2.

         6.2 Indemnification by Parent. From and after the Closing, Parent shall
indemnify, defend and hold the Company, its Affiliates, and their respective
directors, officers, representatives, employees and agents harmless from and
against any and all Losses that may be incurred by the Company resulting or
arising from, related to or incurred in connection with any breach of any
representation, warranty, covenant, obligation or agreement of Parent contained
in SECTION 4.1.

7.      MISCELLANEOUS

         7.1 Termination. This Agreement may be terminated at any time prior to
the Closing by mutual written consent of the Company and Parent. -----------

         7.2 Amendment. This Agreement may be amended only by an agreement or
instrument in writing that is duly executed on behalf of the Company and Parent.

         7.3 Notices. All notices, requests, consents and other communications
hereunder shall be in writing and will be deemed to have been duly given (a)
when received if personally delivered or sent by facsimile, (b) one business day
after being sent by nationally recognized overnight delivery service, or (c)
five business days after being sent by nationally registered or certified mail,
return receipt requested, postage prepaid, and in each case addressed as follows
(any party by written notice to the other party may change the address or the
persons to whom notices thereof shall be directed):

         If to Parent, to:                 Goodrich Corporation
                                           Four Coliseum Centre
                                           2730 West Tyvola Road
                                           Charlotte, North Carolina 28217
                                           Facsimile:  704/423-7011
                                           Attention:  General Counsel

         If to the Company, to:            EnPro Industries, Inc.
                                           5605 Carnegie Boulevard
                                           Suite 500
                                           Charlotte, North Carolina  28209-4674
                                           Facsimile:  704/731-1513
                                           Attention:  General Counsel

                                       7
<PAGE>

         7.4 Waivers. Either party may waive in writing compliance by the other
party with any of the terms contained in this Agreement (except such, if any, as
may be imposed by Law). Any waiver by Parent or the Company of any breach of, or
failure to comply with, any provision of this Agreement by the other party will
not be construed as, or constitute, a continuing waiver of such provision, or a
waiver of any other breach of, or failure to comply with, any other provision of
this Agreement.

         7.5 Assignment. This Agreement and the rights and duties hereunder are
binding upon and inure to the benefit of the successors and permitted assigns of
each of the parties to this Agreement, but are not assignable or delegable by
any party without the prior written consent of the other.

         7.6 Complete Agreement. This Agreement (including the Schedules and
Annexes hereto) sets forth the entire understanding of the parties hereto with
respect to the subject matter hereof and supersedes all prior agreements,
covenants, arrangements, communications, representations or warranties relating
to the subject matter of this Agreement, whether oral or written, by any party
hereto or any representative of any party hereto.

         7.7 Governing Law. This Agreement will be construed and enforced in
accordance with and governed by the internal substantive laws of the State of
New York without giving effect to the principles of conflicts of law thereof.

         7.8 Severability. If any term or other provision of this Agreement is
invalid, illegal or incapable of being enforced by any rule of law or public
policy, all other terms and provisions of this Agreement will nevertheless
remain in full force and effect so long as the economic or legal substance of
the transactions contemplated hereby is not affected in any manner adverse to
any party hereto. Upon any such determination that any term or other provision
is invalid, illegal or incapable of being enforced, the parties hereto shall
negotiate in good faith to modify this Agreement so as to effect the original
intent of the parties as closely as possible in an acceptable manner, to the end
that the transactions contemplated by this Agreement are consummated to the
extent possible.

         7.9 Captions; References; Construction. The captions contained in this
Agreement are for convenience of reference only and do not form a part of this
Agreement. References made in this Agreement to a Section, an Article or a
Schedule, are references to a Section or an Article of, or a Schedule to, this
Agreement unless otherwise indicated. The parties have participated jointly in
the negotiation and drafting of this Agreement. In the event an ambiguity or
question of intent or interpretation arises, this Agreement will be construed as
if drafted jointly by the parties and no presumption or burden of proof will
arise favoring or disfavoring any party by virtue of the authorship of any of
the provisions of this Agreement. The word "including" means including without
limitation. Any reference to the singular in this Agreement also includes the
plural and vice versa.

         7.10 Parties in Interest. This Agreement is binding upon and inures
solely to the benefit of each party and their permitted successors and assigns,
and nothing in this Agreement

                                       8
<PAGE>

express or implied is intended to confer or confers upon any Person any right,
benefit or remedy of any nature whatsoever under or by reason of this Agreement.

         7.11 Expenses. Each party hereto shall bear the legal, accounting and
other fees and expenses incurred by such party in connection with the
negotiation, preparation and execution of this Agreement and the consummation of
the transactions contemplated hereby.

         7.12 Counterparts. This Agreement may be executed in one or more
counterparts, each of which will be deemed to be an original, but all of which
together will constitute one and the same agreement.

                         [SIGNATURES ON FOLLOWING PAGE]

                                       9
<PAGE>

         IN WITNESS WHEREOF, each of Parent and the Company have caused its
respective duly authorized officer to execute this Agreement as of May 31, 2002.

                                     GOODRICH CORPORATION

                                     By:      /s/  Kenneth L. Wagner
                                         ---------------------------------------
                                        Name:  Kenneth L. Wagner
                                        Title: Assistant Secretary

                                     ENPRO INDUSTRIES, INC.

                                     By:      /s/  Richard L. Magee
                                         ---------------------------------------
                                        Name:  Richard L. Magee
                                        Title: Senior Vice President, Secretary
                                               and General Counsel

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