Document:

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                                                                    Exhibit 10.9

                  FORM OF CHANGE OF CONTROL SEVERANCE AGREEMENT

[This is the form of Change of Control Agreement that has been entered into with
the following executive officers and nine other key employees.

<TABLE>
<CAPTION>
Name of Executive Officer   Title                          Date of Agreement                 Section
-------------------------   -----                          -----------------                 -------
                                                                                            1(m) level
                                                                                            ----------

<S>                         <C>                            <C>                              <C>
Robert Mehrabian            President and                  December 21, 1999                three times
                            Chief Executive Officer

Stefan C. Riesenfeld        Executive Vice President       December 21, 1999                three times
                            and Chief Financial Officer

John T. Kuelbs              Senior Vice President,         December 21, 1999                three times
                            General Counsel and Secretary

Nicholas L. Blauwiekel      Senior Vice President of       March 9, 2000                    three times
                            Human Resources

Dale A. Schnittjer          Controller                     December 21, 1999                two times]
</TABLE>

                  THIS AGREEMENT ("Agreement") is made and entered into as of
this ___ day of ________________ (the "Effective Date"), by and among Teledyne
Technologies Incorporated, a Delaware corporation (hereinafter referred to as
the "Company"), and ____________________, an individual residing at the address
set forth on the signature page of this Agreement (the "Executive").

                              W I T N E S S E T H:

                  WHEREAS, the Board of Directors of the Company (the "Board")
has approved the Company entering into this agreement providing for certain
severance protection for the Executive following a Change in Control (as
hereinafter defined);

                  WHEREAS, the Board of the Company believes that, should the
possibility of a Change in Control arise, it is imperative that the Company be
able to receive and rely upon the Executive's advice, if requested, as to the
best interests of the Company and its stockholders without concern that he or
she might be distracted by the personal uncertainties and risks created by the
possibility of a Change in Control; and

                  WHEREAS, in addition to the Executive's regular duties, he or
she may be called upon to assist in the assessment of a possible Change in
Control, advise management and the Board of the Company as to whether such
Change in Control would be in the best interests of the Company and its
stockholders, and to take such other actions as the Board determines to be
appropriate;

                  NOW, THEREFORE, to assure the Company that it will have the
continued dedication of the Executive and the availability of his or her advice
and counsel notwithstanding the possibility, threat, or occurrence of a Change
in Control, and to induce the Executive to remain in the employ of the Company,
and for good and valuable consideration and the mutual

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covenants set forth herein, the Company and the Executive, intending to be
legally bound, agree as follows:

                             Article I. Definitions

         Whenever used in this Agreement, the following terms shall have the
meanings set forth below when the initial letter of the word or abbreviation is
capitalized:

(a) "Accrued Obligations" means, as of the Effective Date of Termination, the
sum of (i) the Executive's Base Compensation through and including the Effective
Date of Termination, (ii) the amount of any bonus, incentive compensation,
deferred compensation and other cash compensation accrued by the Executive as of
the Effective Date of Termination under the terms of any such arrangement and
not then paid, including, but not limited to, AIP accrued but not paid for a
year ending prior to the year in which occur, the Effective Date of Termination,
(iii) unused vacation time monetized at the then rate of Base Compensation, (iv)
expense reimbursements or other cash entitlements, (v) amounts accrued under any
qualified, non-qualified or supplemental employee benefit plan, payroll
practice, policy or perquisite.

(b) "AIP" means the Company's Annual Incentive Plan as it exists on the date
hereof and as it may be amended, supplemented or modified from time to time or
any successor plan.

(c) "Base Compensation" shall mean (1) the highest annual rate of base salary of
the Executive within the time period consisting of one year prior to the date of
a Change in Control and the Effective Date of Termination and (2) the AIP bonus
target for performance in the calendar year that a Change in Control occurs or
the actual AIP payment for the year immediately preceding the Change in Control,
whichever is higher.

(d) "Beneficiary" shall mean the persons or entities designated or deemed
designated by the Executive pursuant to Section 7.2 herein.

(e) "Board" shall mean the Board of Directors of the Company.

(f) For purposes hereof, the term "Cause" shall mean the Executive's conviction
of a felony, breach of a fiduciary duty involving personal profit to the
Executive or intentional failure to perform stated duties reasonably associated
with the Executive's position; provided, however, an intentional failure to
perform stated duties shall not constitute Cause unless and until the Board
provides the Executive with written notice setting forth the specific duties
that, in the Board's view, the Executive has failed to perform and the Executive
is provided a period of thirty (30) days to cure such specific failure(s) to the
reasonable satisfaction of the Board.

(g) For the purposes of this Agreement, "Change in Control" shall mean, and
shall be deemed to have occurred upon the occurrence of, any of the following
events:

         (1) The Company acquires actual knowledge that (x) any Person, other
         than the Company, a subsidiary, any employee benefit plan(s) sponsored
         by the Company or a

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         subsidiary, has acquired the Beneficial Ownership, directly or
         indirectly, of securities of the Company entitling such Person to 20%
         or more of the Voting Power of the Company, or (y) any Person or
         Persons agree to act together for the purpose of acquiring, holding,
         voting or disposing of securities of the Company or to act in concert
         or otherwise with the purpose or effect of changing or influencing
         control of the Company, or in connection with or as Beneficial
         Ownership, directly or indirectly, of securities of the Company
         entitling such Person(s) to 20% or more of the Voting Power of the
         Company; or

         (2) The completion of a Tender Offer is made to acquire securities of
         the Company entitling the holders thereof to 20% or more of the Voting
         Power of the Company; or

         (3) The occurrence of a successful solicitation subject to Rule 14a-11
         under the Securities Exchange Act of 1934 as amended (or any successor
         Rule) (the "1934 Act") relating to the election or removal of 50% or
         more of the members of the Board or any class of the Board shall be
         made by any person other than the Company or less than 51% of the
         members of the Board (excluding vacant seats) shall be Continuing
         Directors; or

         (4) The occurrence of a merger, consolidation, share exchange, division
         or sale or other disposition of assets of the Company as a result of
         which the stockholders of the Company immediately prior to such
         transaction shall not hold, directly or indirectly, immediately
         following such transaction a majority of the Voting Power of (i) in the
         case of a merger or consolidation, the surviving or resulting
         corporation, (ii) in the case of a share exchange, the acquiring
         corporation or (iii) in the case of a division or a sale or other
         disposition of assets, each surviving, resulting or acquiring
         corporation which, immediately following the transaction, holds more
         than 20% of the consolidated assets of the Company immediately prior to
         the transaction;

provided, however that (A) if securities beneficially owned by Executive are
included in determining the Beneficial Ownership of a Person referred to in
Section (i), (B) if Executive is named pursuant to Item 2 of the Schedule 14D-1
(or any similar successor filing requirement) required to be filed by the bidder
making a Tender Offer referred to in Section (ii) or (C) if Executive is a
"participant" as defined in Instruction 3 to Item 4 of Schedule 14A under the
1934 Act in a solicitation referred to in Section (iii) then no Change of
Control with respect to Executive shall be deemed to have occurred by reason of
any such event.

                  For the purposes of Section 1(g), the following terms shall
have the following meanings:

         (i) The term "Person" shall be used as that term is used in Section
         13(d) and 14(d) of the 1934 Act as in effect on the Effective Date
         hereof.

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         (ii) "Beneficial Ownership" shall be determined as provided in Rule
         13d-3 under the 1934 Act as in effect on the Effective Date hereof.

         (iii) A specified percentage of "Voting Power" of a company shall mean
         such number of the Voting Shares as shall enable the holders thereof to
         cast such percentage of all the votes which could be cast in an annual
         election of directors (without consideration of the rights of any class
         of stock, other than the common stock of the company, to elect
         directors by a separate class vote); and "Voting Shares" shall mean all
         securities of a company entitling the holders thereof to vote in an
         annual election of directors (without consideration of the rights of
         any class of stock, other than the common stock of the company, to
         elect directors by a separate class vote).

         (iv) "Tender Offer" shall mean a tender offer or exchange offer to
         acquire securities of the Company (other than such an offer made by the
         Company or any subsidiary), whether or not such offer is approved or
         opposed by the Board.

         (v) "Continuing Directors" shall mean a director of the Company who
         either (x) was a director of the Company on the date hereof or (y) is
         an individual whose election, or nomination for election, as a director
         of the Company was approved by a vote of at least two-thirds of the
         directors then still in office who were Continuing Directors (other
         than an individual whose initial assumption of office is in connection
         with an actual or threatened election contest relating to the election
         of directors of the Company which would be subject to Rule 14a-11 under
         the 1934 Act, or any successor Rule).

(h) "Code" shall mean the Internal Revenue Code of 1986, as amended.

(i) "Effective Date of Termination" shall mean the date on which the Executive's
employment terminates in a circumstance in which Section 2.1 provides for
Severance Benefits (as defined in Section 2.1).

(j) "Good Reason" shall mean, without the Executive's express written consent,
the occurrence of any one or more of the following:

         (1) A material diminution of the Executive's authorities, duties,
responsibilities, or status (including offices, titles, or reporting
relationships) as an employee of the Company from those in effect as of one
hundred eighty (180) days prior to the Change in Control or as of the date of
execution of this Agreement if a Change in Control occurs within one hundred
eighty (180) days of the execution of this Agreement (the "Reference Date") or
the assignment to the Executive of duties or responsibilities inconsistent with
his position as of the Reference Date, other than an insubstantial and
inadvertent act that is remedied by the Company promptly after receipt of notice
thereof given by the Executive, and other than any such alteration which is
consented to by the Executive in writing;

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         (2) The Company's requiring the Executive to be based at a location in
excess of thirty-five (35) miles from the location of the Executive's principal
job location or office immediately prior to the Change in Control, except for
required travel on the Company's business to an extent substantially consistent
with the Executive's present business obligations;

         (3) A reduction in the Executive's annual salary or any material
reduction by the Company of the Executive's other compensation or benefits from
that in effect on the Reference Date or on the date of the Change in Control,
whichever is greater;

         (4) The failure of the Company to obtain an agreement satisfactory to
the Executive from any successor to the Company to assume and agree to perform
the Company's obligations under this Agreement, as contemplated in Article 5
herein; and

         (5) Any purported termination by the Company of the Executive's
employment that is not effected pursuant to a Notice of Termination satisfying
the requirements of Section 2.6 below, and for purposes of this Agreement, no
such purported termination shall be effective.

The Executive's right to terminate employment for Good Reason shall not be
affected by the Executive's (A) incapacity due to physical or mental illness or
(B) continued employment following the occurrence of any event constituting Good
Reason herein.

(k) "PSP" means the Company's Performance Share Program as it exists on the date
hereof and as it may be, amended, supplemented, or modified from time to time or
any successor plan.

(l) "SARP" means the Company's Stock Acquisition and Retention Program as it
exists on the date hereof and as it may be, amended, supplemented or modified
from time to time or any successor plan.

(m) "Severance Compensation" means [three/two times] Base Compensation.

                         Article II. Severance Benefits

         2.1 Right to Severance Benefits. The Executive shall be entitled to
receive from the Company severance benefits described in Section 2.2 below
(collectively, the "Severance Benefits") if a Change in Control shall occur and
within twenty-four (24) months after the Change in Control either of the
following shall occur:

                  (a)      an involuntary termination of the Executive's
                           employment with the Company without Cause; or

                  (b)      a voluntary termination of the Executive's employment
                           with the Company for Good Reason.

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         2.2 Severance Benefits. In the event that the Executive becomes
entitled to receive Severance Benefits, as provided in Section 2.1, the Company
shall provide the Executive with total Severance Benefits as follows (but
subject to Sections 2.5 and 2.6):

                  (a)      The Executive shall receive a single lump sum cash
                           Severance Compensation payment within thirty (30)
                           days of the Effective Date of Termination.

                  (b)      The Executive shall receive the Accrued Obligations.

                  (c)      The Executive shall receive as AIP for the year in
                           which occurs the Effective Date of Termination a lump
                           sum cash payment paid within thirty (30) days of the
                           Effective Date of Termination equal to that which
                           would have been paid if corporate and personal
                           performance had achieved 120% of target objectives
                           established for the annual period in which the Change
                           in Control occurred, multiplied by a fraction, the
                           numerator of which is the number of days elapsed in
                           the current fiscal period to the Effective Date of
                           Termination, and the denominator of which is 365.

                  (d)      The Executive shall receive a lump sum payment paid
                           within thirty (30) days of the Effective Date of
                           Termination (in accordance with the then current PSP;
                           provided that any portion of the PSP award which
                           would have been paid in stock under the PSP is to be
                           paid in cash based on the current market value of the
                           stock) which payment will be determined based upon
                           actual performance for the number of full years of
                           completed then current PSP measurement period(s) at
                           the time of the Effective Date of Termination and for
                           years not yet completed in the then current PSP
                           measurement period(s) Executive will be assumed to
                           have met all applicable goals at 120% of performance.

                  (e)      All welfare benefits, including medical, dental,
                           vision, life and disability benefits pursuant to
                           plans under which the Executive and/or the
                           Executive's family is eligible to receive benefits
                           and/or coverage shall be continued for a period of
                           thirty-six (36) months after the Effective Date of
                           Termination. Such benefits shall be provided to the
                           Executive at no less than the same coverage level as
                           in effect as of the date of the Change in Control.
                           The Company shall pay the full cost of such continued
                           benefits, except that the Executive shall bear any
                           portion of such cost as was required to be borne by
                           key executives of the Company generally at the date
                           of the Change in Control. Notwithstanding the
                           foregoing, the benefits described in this Section
                           2.2(e) may be discontinued prior to the end of the
                           periods provided in this Section to the extent, but
                           only to the extent, that the Executive receives
                           substantially similar benefits from a subsequent
                           employer. In the event any insurance carrier shall
                           refuse to provide coverage to a former employee, the
                           Company shall secure comparable

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                           coverage or may self-insure the benefits if it pays
                           such benefits together with a payment to the
                           Executive equal to the federal income tax
                           consequences of payments to a former highly
                           compensated employee from a discriminatory
                           self-insured plan.

                  (f)      The Executive shall be entitled to reimbursement for
                           actual payments made for professional outplacement
                           services or job search not to exceed $25,000 in the
                           aggregate.

                  (g)      In determining the Executive's pension benefit
                           following entitlement to a Severance Benefit, the
                           Executive shall be deemed to have satisfied the age
                           and service requirements for full vesting under the
                           Company's qualified (within applicable legal
                           parameters), non-qualified and supplemental pension
                           plans as of the Effective Date of Termination such
                           that the Executive shall be entitled to receive the
                           full accrued benefit under all such plans in effect
                           as of the date of the Change in Control, without any
                           actuarial reduction for early payment.

         2.3. Stock Options. All Company stock options previously granted to the
Executive shall be fully vested and exercisable immediately upon a Change in
Control. Such options shall be exercisable for the remainder of the term
established by the Company's stock option plan as if the options had vested in
accordance with the normal vesting schedule and the Executive had remained an
employee of the Company. Company stock acquired pursuant to any such exercise
may be sold by the Executive free of any Company restrictions, whatsoever (other
than those imposed by federal and state securities laws).

         2.4. SARP. In the event of entitlement to a Severance Benefit, all
forfeiture restrictions on all Company stock purchased by or granted to the
Executive under the Company's SARP shall lapse and all shares of restricted
stock shall vest. All of the foregoing shares may be sold by the Executive free
of any Company restrictions whatsoever (other than those imposed by federal and
state securities laws). Any promissory notes of Executive under the SARP shall
be paid off by the Executive within ninety (90) days after Executive's receipt
of the Severance Benefits.

         2.5. Termination for any Other Reason. If the Executive's employment
with the Company is terminated under any circumstances other than those set
forth in Section 2.1, including without limitation by reason of retirement,
death, disability, discharge for Cause or resignation without Good Reason, or
any termination, for any reason, that occurs prior to a Change in Control (other
than as provided below) or after twenty-four (24) months following a Change in
Control, the Executive shall have no right to receive the Severance Benefits
under this Agreement or to receive any payments in respect of this Agreement. In
such event Executive's benefits, if any, in respect of such termination shall be
determined in accordance with the Company's retirement, survivor's benefits,
insurance, and other applicable plans, programs, policies and practices then in
effect. Notwithstanding anything in this Agreement to the contrary, if the
Executive's employment with the Company is terminated at any time from three (3)
to

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eight (8) months prior to the date on which a Change in Control occurs either
(i) by the Company other than for Cause or (ii) by the Executive for Good
Reason, and it is reasonably demonstrated that termination of employment (a) was
at the request of an unrelated third party who has taken steps reasonably
calculated to effect a Change in Control, or (b) otherwise arose in connection
with or in anticipation of the Change in Control, then for all purposes of this
Agreement the termination shall be deemed to have occurred as if immediately
following a Change in Control for Good Reason and the Executive shall be
entitled to Severance Benefits as provided in Section 2.2 hereof.
Notwithstanding anything in this Agreement to the contrary, if the Executive's
employment with the Company is terminated at any time within three (3) months
prior to the date on which a Change in Control occurs either (i) by the Company
other than for Cause or (ii) by the Executive for Good Reason, such termination
shall conclusively be deemed to have occurred as if immediately following a
Change in Control for Good Reason and the Executive shall be entitled to
Severance Benefits as provided in Section 2.2. hereof.

         2.6. Notice of Termination. Any termination by the Company for Cause or
by the Executive for Good Reason shall be communicated by Notice of Termination
to the other party. For purposes of this Agreement, a "Notice of Termination"
shall mean a written notice which shall indicate the specific termination
provision in this Agreement relied upon, and shall set forth in reasonable
detail the facts and circumstances claimed to provide a basis for termination of
the Executive's employment under the provision so indicated.

         2.7. Withholding of Taxes. The Company shall withhold from any amounts
payable under this Agreement all Federal, state, local, or other taxes that are
legally required to be withheld.

         2.8. Certain Additional Payments by the Company.

                  (a)      Notwithstanding anything in this Agreement to the
                           contrary, in the event it shall be determined that
                           any economic benefit or payment or distribution by
                           the Company to or for the benefit of the Executive,
                           whether paid or payable or distributed or
                           distributable pursuant to the terms of this Agreement
                           or otherwise (a "Payment"), would be subject to the
                           excise tax imposed by Section 4999 of the Code or any
                           interest or penalties with respect to such excise tax
                           (such excise tax, together with any such interest and
                           penalties, are hereinafter collectively referred to
                           as the "Excise Tax"), then the Executive shall be
                           entitled to receive an additional payment (a
                           "Gross-Up-Payment") in an amount such that after
                           payment by the Executive of all taxes (including any
                           interest or penalties imposed with respect to such
                           taxes), including any Excise Tax imposed upon the
                           Gross-Up Payment, the Executive retains an amount of
                           the Gross-Up Payment equal to the Excise Tax imposed
                           upon the Payments.

                  (b)      Subject to the provisions of Section 2.8(c), all
                           determinations required to be made under this Section
                           2.8, including whether a Gross-Up Payment is required
                           and the amount of such Gross-Up Payment, shall be
                           made by the

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                           Company's regular outside independent public
                           accounting firm (the "Accounting Firm") which shall
                           provide detailed supporting calculations both to the
                           Company and the Executive within fifteen (15)
                           business days of the Effective Date of Termination,
                           if applicable, or such earlier time as is requested
                           by the Company . The initial Gross-Up Payment, if
                           any, as determined pursuant to this Section 2.8(b),
                           shall be paid to the Executive within five (5) days
                           of the receipt of the Accounting Firm's
                           determination. If the Accounting Firm determines that
                           no Excise Tax is payable by the Executive, it shall
                           furnish the Executive with an opinion that he or she
                           has substantial authority not to report any Excise
                           Tax or excess parachute payments on his or her
                           federal income tax return. Any determination by the
                           Accounting Firm shall be binding upon the Company and
                           the Executive. As a result of the uncertainty in the
                           application of Section 4999 of the Code at the time
                           of the initial determination by the Accounting Firm
                           hereunder, it is possible that Gross-Up Payments
                           which will not have been made by the Company should
                           have been made ("Underpayment"), consistent with the
                           calculations required to be made hereunder. In the
                           event that the Company exhausts its remedies pursuant
                           to Section 2.8(c) and the Executive thereafter is
                           required to make a payment of any Excise Tax, the
                           Accounting Firm shall determine the amount of the
                           Underpayment that has occurred and any such
                           Underpayment shall be promptly paid by the Company to
                           or for the benefit of the Executive.

                  (c)      The Executive shall notify the Company in writing of
                           any claim by the Internal Revenue Service that, if
                           successful, would require the payment by the Company
                           of the Gross-Up Payment. Such notification shall be
                           given as soon as practicable but no later than ten
                           (10) business days after the later of either (i) the
                           date the Executive has actual knowledge of such
                           claim, or (ii) ten (10) days after the Internal
                           Revenue Service issues to the Executive either a
                           written report proposing imposition of the Excise Tax
                           or a statutory notice of deficiency with respect
                           thereto, and shall apprise the Company of the nature
                           of such claim and the date on which such claim is
                           requested to be paid. The Executive shall not pay
                           such claim prior to the expiration of the thirty-day
                           period following the date on which he gives such
                           notice to the Company (or such shorter period ending
                           on the date that any payment of taxes with respect to
                           such claim is due). If the Company notifies the
                           Executive in writing prior to the expiration of such
                           period that the Company desires to contest such
                           claim, the Executive shall: (i) give the Company any
                           information reasonably requested by the Company
                           relating to such claim, (ii) take such action in
                           connection with contesting such claim as the Company
                           shall reasonably request in writing from time to
                           time, including, without limitation, accepting legal
                           representation with respect to such claim by an
                           attorney reasonably selected by the Company, (iii)
                           cooperate with the Company in good faith in order
                           effectively to contest such claim, (iv) permit the
                           Company to participate in any

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                           proceedings relating to such claim; provided,
                           however, that the Company shall bear and pay directly
                           all costs and expenses (including additional interest
                           and penalties) incurred in connection with such
                           contest and shall indemnify and hold the Executive
                           harmless, on an after-tax basis, for any Excise Tax
                           or income tax, including interest and penalties with
                           respect thereto, imposed as a result of such
                           representation and payment of costs and expenses.
                           Without limitation of the foregoing provisions of
                           this Section 2.8(c), the Company shall control all
                           proceedings taken in connection with such contest
                           and, at its sole option, may pursue or forego any and
                           all administrative appeals, proceedings, hearings and
                           conferences with the taxing authority in respect of
                           such claim and may, at its sole option, either direct
                           the Executive to request or accede to a request for
                           an extension of the statute of limitations with
                           respect only to the tax claimed, or pay the tax
                           claimed and sue for a refund or contest the claim in
                           any permissible manner, and the Executive agrees to
                           prosecute such contest to a determination before any
                           administrative tribunal, in a court of initial
                           jurisdiction and in one or more appellate courts, as
                           the Company shall determine; provided, however, that
                           if the Company directs the Executive to pay such
                           claim and sue for a refund, the Company shall advance
                           the amount of such payment to the Executive, on an
                           interest-free basis and shall indemnify and hold the
                           Executive harmless, on an after-tax basis, from any
                           Excise Tax or income tax, including interest or
                           penalties with respect thereto, imposed with respect
                           to such advance or with respect to any imputed income
                           with respect to such advance; and provided further
                           that any extension of the statute of limitations
                           requested or acceded to by the Executive at the
                           Company's request and relating to payment of taxes
                           for the taxable year of the Executive with respect to
                           which such contested amount is claimed to be due is
                           limited solely to such contested amount. Furthermore,
                           the Company's control of the contest shall be limited
                           to issues with respect to which a Gross-Up Payment
                           would be payable hereunder and the Executive shall be
                           entitled to settle or contest, as the case may be,
                           any other issue raised by the Internal Revenue
                           Service or any other taxing authority.

                  (d)      If, after the receipt by the Executive of an amount
                           advanced by the Company pursuant to Section 2.8(c),
                           the Executive becomes entitled to receive any refund
                           with respect to such claim, the Executive shall
                           (subject to the Company's complying with the
                           requirements of Section 2.8(c)) promptly pay to the
                           Company the amount of such refund (together with any
                           interest paid or credited thereon after taxes
                           applicable thereto). If, after the receipt by the
                           Executive of an amount advanced by the Company
                           pursuant to Section 2.8(c), a determination is made
                           that the Executive shall not be entitled to any
                           refund with respect to such claim and the Company
                           does not notify the Executive in writing of its
                           intent to contest such denial of refund prior to the
                           expiration of thirty (30) days after such

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                           determination, then such advance shall be forgiven
                           and shall not be required to be repaid and the amount
                           of such advance shall offset, to the extent thereof,
                           the amount of Gross-Up Payment required to be paid.

                  (e)      In the event that any state or municipality or
                           subdivision thereof shall subject any Payment to any
                           special tax which shall be in addition to the
                           generally applicable income tax imposed by such
                           state, municipality, or subdivision with respect to
                           receipt of such Payment, the foregoing provisions of
                           this Section 2.8 shall apply, mutatis mutandis, with
                           respect to such special tax.

                  Article III. The Company's Payment Obligation

         3.1 Payment Obligations Absolute. Except as otherwise provided in the
last sentence of Section 2.2(e), the Company's obligation to make the payments
and the arrangements provided for in this Agreement shall be absolute and
unconditional, and shall not be affected by any circumstances, including,
without limitation, any offset, counterclaim, recoupment, defense, or other
right that the Company may have against the Executive or any other party. All
amounts payable by the Company under this Agreement shall be paid without notice
or demand. Each and every payment made hereunder by the Company shall be final,
and the Company shall not seek to recover all or any part of such payment from
the Executive or from whomsoever may be entitled thereto, for any reasons
whatsoever. Notwithstanding any other provisions of this Agreement to the
contrary, the Company shall have no obligation to make any payment to the
Executive hereunder to the extent, but only to the extent, that such payment is
prohibited by the terms of any final order of a Federal or state court or
regulatory agency of competent jurisdiction; provided, however, that such an
order shall not affect, impair, or invalidate any provision of this Agreement
not expressly subject to such order.

         3.2 Contractual Rights to Payments and Benefits. This Agreement
establishes and vests in the Executive a contractual right to the payments and
benefits to which he or she is entitled hereunder. Nothing herein contained
shall require or be deemed to require, or prohibit or be deemed to prohibit, the
Company to segregate, earmark, or otherwise set aside any funds or other assets,
in trust or otherwise, to provide for any payments to be made or required
hereunder. The Executive shall not be obligated to seek other employment in
mitigation of the amounts payable or arrangements made under any provision of
this Agreement, and the obtaining of any such other employment shall in no event
effect any reduction of the Company's obligations to make the payments and
arrangements required to be made under this Agreement, except to the extent
provided in the last sentence of Section 2.2(e).

                   Article IV . Enforcement and Legal Remedies

         4.1. Consent to Jurisdiction. Each of the parties hereto irrevocably
consents to personal jurisdiction in any action brought in connection with this
Agreement in the United States District Court for the Central District of
California or any California court of competent jurisdiction. The parties also
consent to venue in the above forums and to the convenience of the

                                      -11-
<PAGE>   12

above forums. Any suit brought to enforce the provisions of this Agreement must
be brought in the aforementioned forums.

         4.2 Cost of Enforcement. In the event that it shall be necessary or
desirable for the Executive to retain legal counsel in connection with the
enforcement of any or all of his or her rights to Severance Benefits under
Section 2.2 of this Agreement, and provided that the Executive substantially
prevails in the enforcement of such rights, the Company, as applicable, shall
pay (or the Executive shall be entitled to recover from the Company, as the case
may be) the Executive's reasonable attorneys' fees, costs and expenses in
connection with the enforcement of his or her rights.

                      Article V. Binding Effect; Successors

         The rights of the parties hereunder shall inure to the benefit of their
respective successors, assigns, nominees, or other legal representatives. The
Company shall require any successor (whether direct or indirect, by purchase,
merger, reorganization, consolidation, acquisition of property or stock,
liquidation, or otherwise) to all or a significant portion of the assets of the
Company, as the case may be, by agreement in form and substance reasonably
satisfactory to the Executive, expressly to assume and agree to perform this
Agreement in the same manner and to the same extent that the Company, as the
case may be, would be required to perform if no such succession had taken place.
Regardless of whether such agreement is executed, this Agreement shall be
binding upon any successor in accordance with the operation of law and such
successor shall be deemed the "Company", as the case may be, for purposes of
this Agreement.

                          Article VI. Term of Agreement

         The term of this Agreement shall commence on the Effective Date and
shall continue in effect for three (3) full years (the "Term") unless further
extended as provided in this Article. The Term of this Agreement shall be
automatically and without action by either party extended for one additional
calendar month on the last business day of each calendar month so that at any
given time there are no fewer than 35 nor more than 36 months remaining unless
one party gives written notice to the other that it no longer wishes to extend
the Term of this Agreement, after which written notice, the Term shall not be
further extended except as may be provided in the following sentence. However,
in the event a Change in Control occurs during the Term, this Agreement will
remain in effect for the longer of: (i) thirty-six (36) months beyond the month
in which such Change in Control occurred; or (ii) until all obligations of the
Company hereunder have been fulfilled and all benefits required hereunder have
been paid to the Executive or other party entitled thereto.

                           Article VII. Miscellaneous

         7.1 Employment Status. Neither this Agreement nor any provision hereof
shall be deemed to create or confer upon the Executive any right to be retained
in the employ of the Company or any subsidiary or other affiliate thereof.

                                      -12-
<PAGE>   13

         7.2 Beneficiaries. The Executive may designate one or more persons or
entities as the primary and/or contingent Beneficiaries of any Severance
Benefits owing to the Executive under this Agreement. Such designation must be
in the form of a signed writing acceptable to the Board of Directors of the
Company. The Executive may make or change such designation at any time.

         7.3 Entire Agreement. This Agreement contains the entire understanding
of the Company and the Executive with respect to the subject matter hereof. Any
payments actually made under this Agreement in the event of the Executive's
termination of employment shall be in lieu of any severance benefits payable
under any severance plan, program, or policy of the Company to which the
Executive might otherwise be entitled.

         7.4 Gender and Number. Except where otherwise indicated by the context,
any masculine term used herein also shall include the feminine; the plural shall
include the singular, and the singular shall include the plural.

         7.5 Notices. All notices, requests, demands, and other communications
hereunder must be in writing and shall be deemed to have been duly given if
delivered by hand or mailed within the continental United States by first-class
certified mail, return receipt requested, postage prepaid, to the other party,
addressed as follows:

         (a)      If to the Company:

                  Teledyne Technologies Incorporated
                  2049 Century Park East
                  15th Floor
                  Los Angeles, California 90067
                  Attn:  Senior Vice President, General Counsel and Secretary

         (b) If to Executive, to him or her at the address set forth at the end
of this Agreement. Addresses may be changed by written notice sent to the other
party at the last recorded address of that party.

         7.6 Execution in Counterparts. The parties hereto in counterparts may
execute this Agreement, each of which shall be deemed to be original, but all
such counterparts shall constitute one and the same instrument, and all
signatures need not appear on any one counterpart.

         7.7. Severability. In the event any provision of this Agreement shall
be held illegal or invalid for any reason, the illegality or invalidity shall
not affect the remaining parts of the Agreement, and the Agreement shall be
construed and enforced as if the illegal or invalid provision had not been
included. Further, the captions of this Agreement are for convenience of
reference and not part of the provisions hereof and shall have no force and
effect.

                                      -13-
<PAGE>   14

         7.8. Modification. No provision of this Agreement may be modified,
waived, or discharged unless such modification, waiver, or discharge is agreed
to in writing and signed by the Executive and on behalf of the Company.

         7.9 Applicable Law. To the extent not preempted by the laws of the
United States, the laws of the State of California, other than the conflict of
law provisions thereof, shall be the controlling laws in all matters relating to
this Agreement.

                                      -14-
<PAGE>   15

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
day and year first above written.

                                       TELEDYNE TECHNOLOGIES INCORPORATED

                                       By:____________________________________

                                       Name:__________________________________

                                       Title:_________________________________

                                       EXECUTIVE

                                       _______________________________________

                                       Name:
                                       Address:

                                      -15-<PAGE>   1
                                                                   Exhibit 10.10

                       TELEDYNE TECHNOLOGIES INCORPORATED

                      EXECUTIVE DEFERRED COMPENSATION PLAN

                         as effective November 29, 1999

<PAGE>   2

                                TABLE OF CONTENTS

1        PURPOSE...................................................1
2        DEFINITIONS...............................................1
3        PARTICIPATION.............................................4
4        DEFERRAL ELECTIONS........................................4
5        PARTICIPANT ACCOUNTS......................................6
6        VESTING...................................................7
7        DISTRIBUTIONS.............................................7
8        PRE-DISTRIBUTION DEATH BENEFIT............................9
9        ADMINISTRATION...........................................10
10       MISCELLANEOUS............................................12

<PAGE>   3

1 PURPOSE. The Teledyne Technologies Incorporated Executive Deferred
Compensation Plan (the "Plan") is established initially to provide benefits to
employees of Teledyne Technologies Incorporated who were employees of Allegheny
Teledyne Incorporated or its subsidiaries and participated in the Allegheny
Teledyne Incorporated Executive Deferred Compensation Plan. This Plan accepted
the benefit payment obligations of the Allegheny Teledyne Incorporated Executive
Deferred Compensation Plan (the Prior Plan as defined below) with respect to
former participants in the ATI Plan who became employees of Teledyne
Technologies Incorporated or any of its subsidiaries on or within sixty days of
the Effective Date. Following the Effective Date, Eligible Employees may
participate under the terms and conditions of this Plan with respect to their
service to and compensation from Teledyne Technologies Incorporated. The
Teledyne Technologies Incorporated Executive Deferred Compensation Plan is an
unfunded plan maintained for the purpose of providing deferred compensation for
a select group of management or highly compensated employees, within the meaning
of Sections 201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income
Security Act of 1974, as amended ("ERISA") and 29 CFR 2520.104-23.

2 DEFINITIONS.

         2.1 "Account" shall mean the bookkeeping account maintained by the
Committee for each Participant that is credited with (1) the portion of the
Participant's Salary that he elects to defer (including transfers to this Plan
from the Allegheny Teledyne Incorporated Executive Deferred Compensation Plan),
(2) the portion of the Participant's Bonus that he elects to defer, (3) portions
of the Participant's account balance under the Prior Plan and (4) earnings on
such amounts.

         2.2 "Beneficiary" shall mean the Participant's spouse or, if the
Participant has no spouse or the spouse consents in writing in the presence of a
notary public, the person or persons, trustee, or other legal entity or entities
last designated by the Participant on a form substantially as set forth in
Exhibit "A" attached hereto to receive the benefits specified hereunder in the
event of the Participant's death. If the Participant has not designated a
beneficiary or if no person designated as a beneficiary survives the
Participant, the payment of the Participant's benefits under this Plan following
his death shall be made (a) to the Participant's spouse, if living, (b) if his
spouse is not then living, to his then living issue by right of representation,
(c) if neither his spouse nor his issue are then living, to his then living
parents, or (d) if none of the above are then living, to his estate.
Notwithstanding the foregoing, the Beneficiary of an Insurable Participant under
the Plan must be the same as the beneficiary designated with respect to the
benefit provided under Article 8 hereof if the Insurable Participant dies prior
to his Payment Eligibility Date.

         2.3 "Bonus" shall mean the award or awards payable under the Teledyne
Technologies Incorporated management bonus program (or the comparable annual
incentive plan of a subsidiary, if applicable, and any predecessor or successor
program to any such annual incentive plan).

                                     - 1 -
<PAGE>   4

         2.4 "Code" shall mean the Internal Revenue Code of 1986, as amended.

         2.5 "Committee" shall mean the administrative committee appointed
pursuant to Section 9.1 of the Plan.

         2.6 "Company" shall mean Teledyne Technologies Incorporated, a Delaware
corporation, and any corporation which is a subsidiary of the corporation
(within the meaning of Code Section 424(f)) involving Teledyne Technologies
Incorporated, unless the context requires otherwise.

         2.7 "Compensation" shall mean the Salary and Bonus paid by the Company
to a Participant.

         2.8 "Director of Human Resources" shall mean such person as the
Committee may from time to time designate and, in the absence of such
designation, the Chief Financial Officer of Teledyne Technologies Incorporated.

         2.09 "Effective Date" shall mean November 29, 1999.

         2.10 "Eligible Employee" shall mean:

                  2.10.1 For a Plan Year other than the short Plan Year covering
         the period from the Effective Date to December 31, 1999, each employee
         of the Company who: (a) as of December 1 of the preceding Plan Year
         holds the title of president of an operating company; or (b) received
         Compensation during the preceding Plan Year at least equal to the
         amount specified in Section 414(q)(1)(B) of the Code, as such amount is
         adjusted for such calendar year by the Secretary of the Treasury for
         increases in the cost of living.

                  2.10.2 For the short Plan Year of the Plan covering the period
         from the Effective Date to December 31, 1999, each employee of the
         Company who: (a) as of the Effective Date holds the title of president
         of an operating company; or (b) for employees of Teledyne Technologies
         Incorporated who were participants in the Allegheny Teledyne
         Incorporated Executive Deferred Compensation Plan prior to the
         Effective Date, received (from the Company and Allegheny Teledyne
         Incorporated or an affiliate) or is expected to receive Compensation
         during the applicable calendar year at least equal to the amount
         specified in Section 414(q)(1)(B) of the Code, as such amount is
         adjusted for such calendar year by the Secretary of the Treasury for
         increases in the cost of living.

                  2.10.3 For any Plan Year beginning on or after the Effective
         Date which includes an employee's date of hire, each employee of the
         Company who: (a) as of the employee's date of hire holds the title of
         president of an operating company; or (b) receives Compensation during
         such Plan Year at least equal to the amount specified in Section
         4.14(q)(1)(B) of the Code. For purposes of this Section 2.10.3 only,

                                     - 2 -
<PAGE>   5

         Compensation shall include Salary that would be paid if the employee's
         Salary were paid for the full Plan Year.

         2.11 "Fund" or "Funds" shall mean one or more of the mutual funds,
investment portfolios or contracts selected by the Committee pursuant to Section
4.2.2.

         2.12 "Initial Election Period" shall mean the first thirty days of the
first Plan Year during which an employee of the Company is an Eligible Employee
or, in the case of an employee who is an Eligible Employee on his date of hire
after the Effective Date, the first thirty days after such date of hire;
provided, however, for the short Plan Year beginning on November 29, 1999 and
ending on December 31, 1999, the Committee may keep in effect any election made
for the 1999 Plan Year of the Prior Plan.

         2.13 "Insurable Participant" shall mean a Participant who satisfies
underwriting standards for the issuance of life insurance determined by the
insurance company selected by the Company to provide the pre-distribution death
benefit described in Article 8.

         2.14 "Interest Rate" shall mean, for each Fund, the net rate, expressed
as a percent, of gain or loss on the assets of such Fund for the applicable
period.

         2.15 "Participant" shall mean any Eligible Employee who, prior to the
Effective Date, has not announced his intention to retire and who (a) elects to
defer Compensation in accordance with Section 4.1, or (b) has an account balance
under the Prior Plan.

         2.16 "Payment Eligibility Date" shall mean the earlier of (i) the date
selected by an Eligible Employee on his Deferred Election form, but no such date
shall be before the end of the Plan Year which is three calendar years after the
end of the Plan Year for which such election is made or (ii) the first day of
the month following the end of the calendar quarter in which a Participant
terminates employment or dies. A Participant receiving benefits under the
Company's short-term disability plan or on an approved leave of absence shall
not be deemed to have terminated employment for purposes of the Plan.

         2.17 "Plan" shall mean the Teledyne Technologies Incorporated
Executive Deferred Compensation Plan as set forth herein, or as amended from
time to time. This Plan is the successor plan to the Allegheny Teledyne
Incorporated Executive Deferred Compensation Plan (the Prior Plan as defined
below) with respect to Participants in the Prior Plan who, as of the Effective
Date, became employees of the Company in connection with the spin off to
stockholders of Allegheny Teledyne Incorporated of the stock of the Company on
November 29, 1999. The Prior Plan was adopted Allegheny Teledyne Incorporated in
1996 and the Prior Plan assumed the payment obligations of the Teledyne, Inc.
Executive Deferred Compensation Plan with regard to then Participants in such
plan. As of the Effective Date, the Company assumed all payment obligations of
benefits accrued by employees of the Company on November 29, 1999, whether such
benefits were accrued under the Prior Plan or its predecessor.

                                     - 3 -
<PAGE>   6

         2.18 "Plan Year" shall mean the calendar year, except that the initial
Plan Year shall be the period from the Effective Date through December 31, 1999.

         2.19 "Prior Plan" shall mean, with respect to employees of the Company
as of November 29, 1999 who participated in the Prior Plan on or before November
29, 1999, the Allegheny Teledyne Incorporated Executive Deferred Compensation
Plan, and its predecessor plan, the Teledyne, Inc. Executive Deferred
Compensation Plan.

         2.20 "Retirement" shall mean the date as of which a Participant
commences to receive a benefit under a pension plan maintained by the Company,
the date as of which a Participant commences to receive disability benefits
under the Company's long-term disability plan or, in the case of a Participant
who is not entitled to benefits under the Company's long-term disability plan,
the date the Committee determines is the first date the Participant satisfies
the definition of disability set forth in that plan.

         2.21 "Salary" shall mean the base rate of pay that an employee is
entitled to receive for services rendered to the Company.

3 PARTICIPATION. An Eligible Employee who, prior to the Effective Date, has not
announced his intention to retire shall become a Participant in the Plan on (a)
the first day of the first pay period for which he elects to defer a portion of
his Compensation in accordance with Section 4.1, or (b) the Effective Date if he
has an account balance under the Prior Plan.

4 DEFERRAL ELECTIONS.

         4.1 Elections to Defer Compensation.

                  4.1.1 General Rule. An Eligible Employee may elect to defer,
in increments of 1% and subject to the limitation set forth herein, up to 50% of
his Salary and, separately, up to 100% of his Bonus for the calendar year
following the calendar year in which a written election, on a form approved by
the Director of Human Resources, to defer Salary and/or Bonus is delivered to
the Director of Human Resources. Each election to defer Salary and/or Bonus
shall be effective for only the next succeeding calendar, shall expire on the
last day of the calendar year next following its delivery and shall specify the
Participant's elections as to distribution time and form from among those then
permitted under the Plan. No election may be for less than 5% of the Salary or
Bonus payment, respectively, and no election shall exceed an amount which would
prevent the Eligible Employee from making required or elected contributions
under employee benefit plans or to have required federal, state and local income
or payroll tax payments made or such other amounts as determined appropriate by
the Committee. An election to defer Salary or Bonus with respect to services
rendered during a calendar year must be filed with the Director of Human
Resources on or before December 1 of the preceding calendar year.

                  4.1.2 Committee Discretion. Notwithstanding Section 4.1.1 and
in addition to any other power or discretion granted to the Committee, the
Committee may, in its sole discretion and on a case-by-case basis, permit one or
more Eligible Employees to elect to defer

                                     - 4 -
<PAGE>   7

more than 50% of his Salary. In the event that the Committee permits one or more
Eligible Employees to defer more than 50% of his Salary, the amount permitted to
be deferred shall not exceed the amount necessary to permit the Eligible
Employee to make contributions, as elected by or required of the Eligible
Employee, under employee benefit plans, and to have withheld applicable federal,
state and local income or payroll tax and such other amounts as determined
appropriate by the Committee.

                  4.1.2 Initial Election Period. Each Eligible Employee may
elect to defer Compensation by filing with the Director of Human Resources an
election, on a form provided by the Committee, no later than the last day of his
Initial Election Period. An election to defer Compensation during the Initial
Election Period shall be effective with respect to the Participant's Salary
earned during the first pay period beginning after the election and with respect
to the portion of the Participant's Bonus attributable to the portion of the
calendar year following the election. For the short Plan Year beginning November
29, 1999 and ending on December 31, 1999, the Committee may keep in effect any
election made by a Participant under the Prior Plan for the 1999 Plan Year of
the Prior Plan.

                  4.1.3 Elections other than Elections during the Initial
Election Period. Subject to the limitations of Section 4.1.2 above, any Eligible
Employee who fails to elect to defer Compensation during his Initial Election
Period may subsequently elect to defer Compensation, and any Eligible Employee
who has terminated a prior Salary deferral election may elect to again defer
Salary, by filing with the Director of Human Resources an election, on a form
provided by the Committee, to defer Compensation as described in Section 4.1.1
above. An election to defer Salary payable during a calendar year must be filed
with the Director of Human Resources on or before December 1 of the preceding
calendar year. An election to defer Bonus payable with respect to services
rendered during a calendar year must be filed with the Director of Human
Resources on or before December 1 of the preceding calendar year.

                  4.1.4 Duration of Salary Deferral Election. Any Salary
deferral election made under Section 4.1.2 or Section 4.1.3 shall remain in
effect, notwithstanding any change in the Participant's Salary, until changed or
terminated in accordance with the terms of this Section 4.1.2.4; provided,
however, that such election shall terminate for any Plan Year for which the
Participant is not an Eligible Employee. A Participant may increase, decrease or
terminate his Salary deferral election with respect to Salary earned during a
calendar year by filing a new election, in accordance with the terms of this
Section 4.1, with the Director of Human Resources on or before December 1 of the
preceding calendar year.

                  4.1.5 Duration of Bonus Deferral Election. Any Bonus deferral
election made under Section 4.1.2 or Section 4.1.3 shall be irrevocable and
shall apply only to the Bonus payable with respect to services performed during
the calendar year for which the election is made. For each subsequent calendar
year, an Eligible Employee must make a new election, subject to the limitations
set forth in this Section 4.1, to defer a percentage of his Bonus. Such election
shall be on forms provided by the Committee and shall be filed with the Director
of Human Resources on or before December 1 of the calendar year preceding the
calendar year in which the services that are to result in the Bonus are
performed.

                                     - 5 -
<PAGE>   8

                  4.1.6 Extension of Election Deadline. Notwithstanding the
foregoing provisions of this Section 4.1, the Committee may extend the deadline
for filing elections set forth in Sections 4.1.3, 4.1.4 and 4.1.5 from December
1 of a particular calendar year as the Committee shall determine. The Committee
shall give notice of such extension to all Eligible Employees.

         4.2 Investment Elections.

                  4.2.1 Investment Options. The Committee shall select from time
to time the types of mutual funds, investment portfolios underlying universal
life products or contracts in which Participants' Accounts shall be deemed to be
invested. At the time an Eligible Employee first becomes a Participant, the
Participant shall file with the Director of Human Resources a form provided by
the Committee designating which of such types of mutual funds, investment
portfolios or contracts the Participant's Account shall be deemed to be invested
in for purposes of determining the amount of earnings to be credited to such
Account. In making the designation pursuant to this Section 4.2.1, the
Participant may specify that all or any portion of his Account, designated in
whole percentages, be deemed to be invested in one or more of the types of
mutual funds, investment portfolios or contracts selected by the Committee. A
Participant may change monthly the designation made under this Section 4.2.1 by
filing with the Director of Human Resources an election, on a form provided by
the Committee, at any time during a month, with such change to be effective as
of the first day of the month immediately succeeding the date on which such form
is filed. If a Participant fails to elect a type of fund under this Section
4.2.1, any prior election shall remain in effect or, if there is no prior
election of types of funds, any deferral election made by the Participant shall
be void. If a Participant who receives allocations to his Account only pursuant
to Sections 5.3 and 5.4 fails to elect a type of fund under this Section 4.2.1,
he shall be deemed to have elected the fund or contract designated by the
Committee as the default fund.

                  4.2.2 Committee Selection of Funds. Although the Participant
may designate the type of mutual funds, investment portfolios or contracts
pursuant to Section 4.2.1, the Committee shall select from time to time, in its
sole discretion, a commercially available fund, portfolio or contract of each of
the types selected pursuant to Section 4.2.1 to be the Funds. The Interest Rate
of each such Fund shall be used to determine the amount of earnings to be
credited to Participants' Accounts under Section 5.4.

5 PARTICIPANT ACCOUNTS. The Committee shall establish and maintain an Account
for each Participant under the Plan. Each Participant's Account shall be further
divided into separate subaccounts ("subaccounts"), each of which corresponds to
a mutual fund, investment portfolio or contract elected by the Participant in
accordance with Section 4.2. A Participant's Account shall be credited as
follows:

         5.1 Salary Credits. As of the last day of each month, the Committee
shall credit the subaccounts of the Participant's Account with an amount equal
to Salary deferred by the Participant during each pay period ending in that
month in accordance with the Participant's election under Section 4.2; that is,
the portion of the Participant's deferred Salary that the

                                     - 6 -
<PAGE>   9

Participant has elected to be deemed to be invested in a certain type of Fund
shall be credited to the subaccount corresponding to that Fund.

         5.2 Bonus Credits. As of the last day of the month in which the Bonus
is payable, the Committee shall credit the subaccounts of the Participant's
Account with an amount equal to the portion of the Bonus deferred by the
Participant in accordance with the Participant's election under Section 4.2;
that is, the portion of the Participant's deferred Bonus that the Participant
has elected to be deemed to be invested in a particular type of Fund shall be
credited to the subaccount corresponding to that Fund.

         5.3 Prior Plan Credits. As of the Effective Date, the Committee shall
credit the subaccounts of the Participant's Account with an amount equal to the
Participant's account balance under the Prior Plan as of the Effective Date.

         5.4 Earnings Credits. As of the last day of each month in which any
amount remains credited to a Participant's Account, each subaccount of a
Participant's Account shall be credited with earnings in an amount equal to that
determined by multiplying the balance credited to such subaccount as of the last
day of the preceding month by the Interest Rate for that month for the
corresponding Fund selected by the Company pursuant to Section 4.2.2.

6 VESTING. A Participant's Account shall be 100 percent vested at all times.

7 DISTRIBUTIONS.

         7.1 Amount and Time of Distribution.

                  7.1.1 Payment as of Payment Eligibility Date. Each Participant
(or, in the case of his death, his Beneficiary) shall be entitled to receive a
distribution of benefits under this Plan as soon as practicable following his
Payment Eligibility Date. The amount payable to a Participant shall be the
amount credited to the Participant's Account as of his Payment Eligibility Date.

                  7.1.2 Payment Prior to Payment Eligibility Date. A Participant
may elect by filing with the Director of Human Resources a form substantially as
set forth in Exhibit "B" attached hereto to receive an amount equal to ninety
percent of his Account balance at any time prior to his Payment Eligibility
Date. If the Participant makes an election described in this Section 7.1.2: the
balance of the Participant's Account not distributed to the Participant shall be
forfeited to the Company; the amount to which he is entitled under this Section
7.1.2 shall be distributed to the Participant in a single lump sum within thirty
days following such election; the Participant shall be prohibited from
participating in the Plan for the balance of the Plan Year in which this
distribution is made and the following Plan Year; and any elections previously
made pursuant to Article 4 of this Plan shall cease to be effective.

                                     - 7 -
<PAGE>   10

         7.2 Form of Distribution.

                  7.2.1 Pre-Retirement Distributions. If a Participant's Payment
Eligibility Date occurs prior to the date of his Retirement, the Participant's
Account shall be paid to such Participant in the form of payment elected by the
Participant from among the forms available under Section 7.2.3 or, if no
election is made on a timely basis, in a single lump sum.

                  7.2.2 Post-Retirement Distributions. If a Participant's
Payment Eligibility Date occurs on or after the date of his Retirement, the
Participant's Account shall be paid to such Participant or, in the event of the
Participant's death on or after his Payment Eligibility Date, his Beneficiary in
the form of sixty quarterly installments. Such installment payments shall
commence on the Participant's Payment Eligibility Date or as soon thereafter as
is practicable and shall continue on the first day of each of the 59 calendar
quarters thereafter.

                  7.2.3 Election of Optional Form of Distributions.
Notwithstanding the provisions of Section 7.2.2, a Participant whose Payment
Eligibility Date occurs on or after the date of his Retirement may elect to
receive distribution of his Account balance in a single lump sum, twenty
quarterly installments, or forty quarterly installments provided that at least
one year prior to his Payment Eligibility Date, the Director of Human Resources
receives from the Participant a notice, in substantially the form of Exhibit "C"
attached hereto, that the Participant elects to receive payment in one of such
optional forms. Any such payment shall be made or commence to be made as of the
Participant's Payment Eligibility Date. Any election made pursuant to this
Section 7.2.3 may be revoked by filing notice of such revocation with the
Director of Human Resources on or before the date which is one year prior to the
Participant's Payment Eligibility Date.

                  7.2.4 Method for Calculating Installments. If a Participant or
Beneficiary receives payment of his Account balance in installments pursuant to
Section 7.2.2 or 7.2.3, the amount of each quarterly installment payable during
the Plan Year which includes the Participant's Payment Eligibility Date shall
equal the Participant's Account balance on the Payment Eligibility Date divided
by the total number of installments the Participant or Beneficiary is scheduled
to receive. The amount of each quarterly installment payable during each
succeeding Plan Year, other than the last Plan Year in which the Participant or
Beneficiary receives installment payments under the Plan, shall equal the
Participant's Account balance on September 30 of the preceding Plan Year divided
by the number of installments remaining to be paid after the last day of such
preceding Plan Year. The amount of each quarterly installment payable during the
last Plan Year in which the Participant or Beneficiary receives installment
payments under the Plan shall equal the Participant's Account balance on the
last day of the second preceding calendar quarter divided by the number of
installments remaining to be paid after the last day of the preceding calendar
quarter, except that the final quarterly installment shall be equal to the
remaining balance in the Participant's Account.

                  7.2.5 Small Account Balances. Notwithstanding any other
provision of this Section 7.2, if a Participant's Account balance on his Payment
Eligibility Date is $30,000 or less, such Account balance shall be paid in a
single lump sum.

                                     - 8 -
<PAGE>   11

8 PRE-DISTRIBUTION DEATH BENEFIT.

         8.1 Amount of Benefit. The Company shall own and maintain one or more
life insurance policies on the life of each Insurable Participant (collectively,
the "Policy") each with a death benefit no less than the death benefit payable
under this Section 8.1. Until an employee of the Company (other than a
Participant who has already been determined not to be an Insurable Participant)
completes an application for the Policy, any deferral elections made by the
employee pursuant to Article 4 hereof shall be void. If an Insurable Participant
shall die at least sixty days following the first day of the month in which
allocations pursuant to Article 5 of the Plan are first made to his Account and
prior to his Payment Eligibility Date, his Beneficiary shall receive directly
from the insurance company issuing the Policy in a single lump sum an amount
equal the lesser of (1) or (2):

         (1)      the greatest of (i) the amount of insurance coverage in effect
                  on December 31, 1998, if applicable, (ii) the Participant's
                  Account balance as of a relevant time or (iii) $1,000,000; or

         (2)      the greater of: (i) ten times the amounts allocated to the
                  Insurable Participant's Account pursuant to Sections 5.1
                  and/or 5.2 during the first twelve months in which the
                  Insurable Participant receives allocations to his Account; or
                  (ii) two times the Insurable Participant's Account balance as
                  of his date of death if the Insurable Participant has not
                  attained age 56 at the date of death or, if the Insurable
                  Participant is age 56 or older at death, 1.5 times the
                  Insurable Participant's Account balance as of his date of
                  death.

         8.2 Other Rules.

                  8.2.1 Reduction of Account Balance. Notwithstanding anything
contained herein to the contrary, any benefits otherwise payable with respect to
an Insurable Participant under this Plan shall be reduced by the value of
benefits received by the Insurable Participant's Beneficiary under the Policy.

                  8.2.2 Death on or After Payment Eligibility Date. If an
Insurable Participant shall die on or after his Payment Eligibility Date, his
Beneficiary shall receive no benefits under the Policy and any death benefits
thereunder shall be paid to the Company.

                  8.2.3 Effect of Account Distribution Prior to Payment
Eligibility Date. If an Insurable Participant receives a distribution pursuant
to Section 7.1.2, for purposes of Section 8.1.1, the first twelve months in
which he receives allocations to his Account shall be deemed to be the first
Plan Year after such distribution in which he receives allocations under Section
5.1 or 5.2 and, for purposes of Section 8.1.2, the Insurable Participant's
Account shall include only amounts allocated to the Insurable Participant's
Account following such distribution and prior to his date of death.

                                     - 9 -
<PAGE>   12

                  8.2.4 Death Prior to Eligibility for Pre-Distribution Death
Benefit. If a Participant should die before completing the sixty-day eligibility
period for the pre-distribution death benefit set forth in Section 8.1, his
Beneficiary shall receive only the balance in the Participant's Account as of
the Participant's Payment Eligibility Date.

                  8.2.5 Failure to Remain Insurable. Notwithstanding the
foregoing provisions of this Article 8, if a Participant satisfies the
definition of an Insurable Participant (as set forth in Section 2.14) at the
time he becomes a Participant, but fails to satisfy such definition thereafter,
the pre-distribution death benefit payable to the Participant's Beneficiary
shall equal the lesser of:

                           (1) the pre-distribution death benefit determined
under the foregoing provisions of this Article 8; or

                           (2) the death benefit under the Policy payable to the
Participant's Beneficiary at the time the Participant fails to satisfy the
definition of an Insurable Participant.

9 ADMINISTRATION.

         9.1 Committee Action. The Plan shall be administered by the Committee,
consisting of at least three members, appointed by and holding office at the
pleasure of the Chief Financial Officer of Teledyne Technologies Incorporated.
The Committee shall act at meetings by an affirmative vote of a majority of the
members of the Committee. Any action permitted to be taken at a meeting may be
taken without a meeting if a written consent to the action is signed by all
members of the Committee and such written consent is filed with the minutes of
the proceedings of the Committee. A member of the Committee shall not vote or
act upon any matter which relates solely to himself as a Participant. The
Chairman or any other member or members of the Committee designated by the
Chairman may execute any certificate or other written direction on behalf of the
Committee.

         9.2 Powers and Duties of the Committee. The Committee, on behalf of the
Participants and their Beneficiaries, shall enforce the Plan in accordance with
its terms, shall be charged with the general administration of the Plan, and
shall have all powers necessary to accomplish its purposes, including, but not
by way of limitation, the following:

                  o        To determine all questions relating to the
                           eligibility of employees to participate;

                  o        To construe and interpret the terms and provisions of
                           this Plan;

                  o        To compute and certify to the amount and kind of
                           benefits payable to Participants and their
                           Beneficiaries;

                                     - 10 -
<PAGE>   13

                  o        To maintain all records that may be necessary for the
                           administration of the Plan;

                  o        To provide for the disclosure of all information and
                           the filing or provision of all reports and statements
                           to Participants, Beneficiaries or governmental
                           agencies as shall be required by law;

                  o        To make and publish such rules for the regulation of
                           the Plan and procedures for the administration of the
                           Plan as are not inconsistent with the terms hereof;
                           and

                  o        To appoint a plan administrator or, any other agent,
                           and to delegate to such person such powers and duties
                           in connection with the administration of the Plan as
                           the Committee may from time to time prescribe.

         9.3 Construction and Interpretation. The Committee shall have full
discretion to construe and interpret the terms and provisions of this Plan,
which interpretation or construction shall be final and binding on all parties,
including but not limited to the Company and any Participant or Beneficiary. The
Committee shall administer such terms and provisions in a uniform and
nondiscriminatory manner and in full accordance with any and all laws applicable
to the Plan.

         9.4 Information. To enable the Committee to perform its functions,
the Company shall supply full and timely information to the Committee on all
matters relating to the Compensation of all Participants, their death or other
cause of termination, and such other pertinent facts as the Committee may
require.

         9.5 Compensation, Expenses and Indemnity.

                  9.5.1 The members of the Committee shall serve without
compensation for their services hereunder.

                  9.5.2 The Committee is authorized at the expense of the
Company to employ such legal counsel as it may deem advisable to assist in the
performance of its duties hereunder. Expenses and fees in connection with the
administration of the Plan shall be paid by the Company.

                  9.5.3 The Company shall indemnify and save harmless the
Committee and each member thereof, and the Chief Financial Officer, the Director
of Human Resources, and any delegate of the Committee who is an employee of the
Company against any and all expenses, liabilities and claims, including legal
fees to defend against such liabilities and claims, arising out of their
discharge of responsibilities under or incident to the Plan, other than expenses
and liabilities arising out of willful misconduct. This indemnity shall not
preclude such further indemnities as may be available under insurance purchased
by the Company or provided by the

                                     - 11 -
<PAGE>   14

Company under any bylaw, agreement or otherwise, as such indemnities are
permitted under applicable law.

         9.6 Quarterly Statements. Under procedures established by the
Committee, a Participant shall receive quarterly statements with respect to such
Participant's Account.

10 MISCELLANEOUS.

         10.1 Unsecured General Creditor. Participants and their Beneficiaries,
heirs, successors, and assigns shall have no legal or equitable rights, claims,
or interest in any specific property or assets of the Company. No assets of the
Company shall be held in any way as collateral security for the fulfilling of
the obligations of the Company under this Plan. The Company's obligation under
the Plan shall be merely that of an unfunded and unsecured promise of the
Company to pay money in the future, and the rights of the Participants and
Beneficiaries shall be no greater than those of unsecured general creditors. The
Plan is intended to be unfunded for tax purposes and for purposes of Title I of
ERISA.

         10.2 Restriction Against Assignment. The Company shall pay all amounts
payable hereunder only to the person or persons designated by the Plan and not
to any other person or corporation. No part of a Participant's Account shall be
liable for the debts, contracts, or engagements of any Participant, his
Beneficiary, or successors in interest, nor shall a Participant's Account be
subject to execution by levy, attachment, or garnishment or by any other legal
or equitable proceeding, nor shall any such person have any right to alienate,
anticipate, commute, pledge, encumber, or assign any benefits or payments
hereunder in any manner whatsoever.

         10.3 No Right to Continued Employment. Neither an employee's
participation in the Plan, nor his rights to his Account shall confer upon such
employee any right with respect to continuance of employment by or receipt of
Bonuses from the Company, nor shall such items interfere in any way with the
right of the Company to terminate such employee's employment or alter such
employee's Compensation at any time.

         10.4 Withholding. There shall be deducted from each payment made under
the Plan or, if such payment is not large enough, from any other funds payable
to the Participant, all taxes which the Company determines are required to be
withheld with respect to such payment under the Plan. The Company shall have the
right to reduce any payment by the amount of cash sufficient to provide the
amount of said taxes.

         10.5 Amendment, Modification, Suspension or Termination. The Personnel
and Compensation Committee of the Company's Board of Directors may amend,
modify, suspend or terminate the Plan in whole or in part except that no
amendment, modification, suspension or termination shall reduce any amounts then
credited to a Participant's Account. The Company shall provide notice of such
action to all Participants and Beneficiaries of deceased Participants.

                                     - 12 -
<PAGE>   15

         10.6 Governing Law. Except to the extent that it is preempted by
federal law, this Plan shall be construed, governed and administered in
accordance with the laws of the State of Delaware.

         10.7 Receipt or Release. Any payment to a Participant or the
Participant's Beneficiary in accordance with the provisions of the Plan,
including but not limited to any payment from an insurance company, shall, to
the extent thereof, be in full satisfaction of all claims under the Plan against
the Committee and the Company. Any payment, whether by the Company or an
insurance company, to a Participant or the Participant's Beneficiary of an
amount described in Section 5.3 shall, to the extent thereof, be in full
satisfaction of all claims to such amount which the Participant or his
Beneficiary or any beneficiary designated in accordance with the Prior Plan may
have against the Company or any other person under the Prior Plan. The Committee
may require such Participant or Beneficiary, as a condition precedent to such
payment, to execute a receipt and release to such effect. The Company has
assumed the payment liabilities with respect to Participants in this Plan from
the Prior Plan and indemnified Allegheny Teledyne Incorporated from any and all
payment liabilities with respect to the amount of benefits accrued prior to the
Effective Date.

         10.8 Payments on Behalf of Minors. In the event that any amount becomes
payable under the Plan to a minor or a person who, in the sole judgment of the
Committee, is considered by reason of physical or mental condition to be unable
to give a valid receipt therefore, the Committee may direct that such payment be
made only to the conservator or the guardian of the estate of such person
appointed by a court of competent jurisdiction or such other person or in such
other manner as the Committee determines is necessary to assure that the payment
will legally discharge the Plan's obligation to such person. Any payment made
pursuant to such determination shall constitute a full release and discharge of
the Committee and the Company.

         10.9 Miscellaneous. All pronouns and any variations thereof contained
herein shall be deemed to refer to masculine or feminine, singular or plural, as
the identity of the person or persons may require. The headings used in this
Plan are for convenience only and shall not be construed in interpreting this
Plan.

                                     - 13 -
<PAGE>   16

                                    EXHIBIT A
                             BENEFICIARY DESIGNATION

         I hereby designate the following individual or entity to receive any
benefits to which I am entitled under the Teledyne Technologies Incorporated
Executive Deferred Compensation Plan if such benefits become payable after my
death:

Name:
Address:
Relationship:
Social Security or Tax Identification Number:

I understand and acknowledge that if I am married on the date of my death and I
have designated above someone other than the individual who is my spouse on the
date of my death, such designation shall not be effective unless my spouse
consents in writing as set forth on the following page in the presence of a
notary.

Date                               Signature

                                   Printed Name

<PAGE>   17

                   SPOUSAL CONSENT TO BENEFICIARY DESIGNATION

         I am the spouse of _____________________. I hereby consent to the
designation made by my spouse of ____________________ as the beneficiary under
the Teledyne Technologies Incorporated Executive Deferred Compensation Plan. I
understand that this consent is valid only with respect to the naming of the
beneficiary indicated on the prior page and that the designation of any other
beneficiary will not be valid unless I consent in writing to such designation.

         This consent is being voluntarily given, and no undue influence or
coercion has been exercised in connection with my consent to the designation
made by my spouse of the beneficiary named on the prior page rather than myself
as the beneficiary under the Teledyne Technologies Incorporated Executive
Deferred Compensation Plan.

Date                                 Spouse's Signature

                                     Print Spouse's Name

State of __________________

County of__________________

         On __________ (date) before me _______________(name, title) personally
appeared ___________________________ (name of spouse)

                          personally known to me (or)

                          proved to me on the basis of
                          satisfactory evidence

to be the person whose name is subscribed to the within instrument and
acknowledged to me that he/she executed the same in his/her authorized capacity,
and that by his/her signature on the instrument the person executed the
instrument.

         WITNESS my hand and official seal.

                                 Signature of Notary

<PAGE>   18

                                    EXHIBIT B
                 DISTRIBUTION PRIOR TO PAYMENT ELIGIBILITY DATE

         Pursuant to Section 7.1.2 of the Teledyne Technologies Incorporated
Executive Deferred Compensation Plan (the "Plan"), I hereby elect to receive
distribution of ninety percent (90%) of my account balance under the Plan within
thirty days of the receipt of this election by the Director of Human Resources
of Teledyne Technologies Incorporated.

         I understand and acknowledge that as a result of this election:

         1. The balance of my account under the Plan not distributed to me shall
be forfeited to Teledyne Technologies Incorporated;

         2. I shall be prohibited from participating in the Plan for the balance
of the Plan Year in which this distribution is made and the following Plan Year;

         3. Any deferral elections previously made pursuant to Article 4 of the
Plan shall cease to be effective; and

         4. The pre-distribution death benefit provided under the Plan shall
cease to be available to my beneficiary following this distribution. If I resume
participation in the Plan to the extent permitted by the Plan in accordance with
paragraph 2 above, my beneficiary may again be eligible to receive a death
benefit under the Plan but such death benefit shall be computed only with
respect to allocations to my account under the Plan following such distribution
and prior to my date of death.

Date                             Signature

                                 Printed Name

                                 Received by Teledyne Technologies Incorporated

                                 on

                                 by

<PAGE>   19

                                    EXHIBIT C
                        ELECTION OF FORM OF DISTRIBUTION

         Pursuant to Section 7.2.3 of the Teledyne Technologies Incorporated
Executive Deferred Compensation Plan (the "Plan"), I hereby notify Teledyne
Technologies Incorporated that instead of receiving distribution of my Account
balance under the Plan in sixty quarterly installments, I hereby elect that my
Account balance under the Plan be paid to me in one of the following forms:

                forty quarterly installments;

                twenty quarterly installments; or

                a single lump sum.

         I understand that in order for this election to be effective:

         1. This notice must be received by Teledyne Technologies Incorporated,
c/o the Director of Human Resources, 2049 Century Park East, 15th Floor, Los
Angeles, California 90067, at least one year prior to my Payment Eligibility
Date; and

         2. My Payment Eligibility Date, as that term is defined in the Plan,
must occur on or after the date as of which I commence to receive a benefit
under a pension plan maintained by Teledyne Technologies Incorporated or a
subsidiary, the date as of which I commence to receive disability benefits under
the long-term disability plan of Teledyne Technologies Incorporated or a
subsidiary, or, if I am not entitled to benefits under the long-term disability
plan of Teledyne Technologies Incorporated or a subsidiary, the date the
Administrative Committee of the Plan determines is the first date I satisfy the
definition of disability set forth in such disability plan.

Date                               Signature
                                   Printed Name

Received by Teledyne Technologies
   Incorporated

                                   on

                                   by

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