Document:

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                                                                  Exhibit 10.14

                              EMPLOYMENT AGREEMENT

         THIS AGREEMENT is made and entered into effective as of April 10, 2000
(the "Effective Date") by and between GenRad, Inc., a Massachusetts corporation
(including, for purposes of Sections 5, 6, 7 and 9, its direct and indirect
subsidiaries, the "Company"), and Robert M. Dutkowsky, of Westboro,
Massachusetts (the "Executive").

         In consideration of the mutual promises, terms, provisions and
conditions set forth in this Agreement, the parties hereby agree as follows:

         1. EMPLOYMENT. Subject to the terms and conditions set forth in this
Agreement, the Company hereby offers and the Executive hereby accepts employment
by the Company on the Effective Date.

         2. CAPACITY AND PERFORMANCE.

                  (a) During his employment, the Executive shall serve as
         Chairman, President and Chief Executive Officer of the Company. In
         addition, if the Executive agrees to serve as a director of the Company
         or an officer and/or director of one or more of the Company's
         subsidiaries, he agrees to do so without further compensation.

                  (b) During his employment, the Executive shall be employed by
         the Company on a full-time basis and shall have all powers and duties
         consistent with his position as the Chairman, President and Chief
         Executive Officer of the Company, reporting to and subject to the
         direction and control of the Company's Board of Directors (the
         "Board"), and shall perform such other duties and responsibilities on
         behalf of the Company and its subsidiaries as may reasonably be
         designated from time to time by the Board consistent with the position
         of President and Chief Executive Officer.

                  (c) During his employment, the Executive shall devote
         substantially all of his business time and his best efforts, business
         judgment, skill and knowledge to the advancement of the business and
         interests of the Company and to the discharge of his duties and
         responsibilities hereunder. The Executive shall not engage in any other
         business activity or serve in any industry, trade, professional,
         governmental or academic position during his employment by the Company,
         except as may be expressly approved in advance by the Board in writing
         or to the extent that any such activity or service does not materially
         and adversely affect the discharge of his duties and responsibilities
         hereunder.

         3. COMPENSATION AND BENEFITS. As compensation for all services
performed by the Executive under this Agreement and during his employment by the
Company and

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subject to performance of the Executive's duties and obligations, pursuant
to this Agreement or otherwise:

                  (a) BASE SALARY. The Company shall pay the Executive a base
         salary at the rate of Five Hundred Thousand Dollars ($500,000) per
         annum, payable at such time as base salaries are regularly paid to
         senior executives of the Company ("Base Salary").

                  (b) BONUS COMPENSATION.

                           (i) The Company shall pay the Executive a one-time
                  signing bonus equal to $125,000 (the "Signing Bonus") promptly
                  following the execution and delivery of this Agreement by the
                  Executive and the Company. Notwithstanding anything contained
                  herein to the contrary, the Signing Bonus shall be subject to
                  repayment by the Executive if the Executive terminates his
                  employment without Good Reason (as defined below) or the
                  Company terminates his employment for Cause (as defined below)
                  within twelve months of the Effective Date. The amount of the
                  Signing Bonus to be repaid shall be reduced by $10,416.67 for
                  each full month during which the Executive's employment by the
                  Company continues. Notwithstanding the foregoing, the Signing
                  Bonus shall not be subject to repayment if (A) the Executive
                  dies or his employment is terminated for disability pursuant
                  to Section 4(b) below or (B) the Executive's employment is (x)
                  terminated by the Company without Cause or (y) terminated by
                  the Executive for Good Reason within thirty days after the
                  occurrence of the event which gives rise to Good Reason. In
                  the event that any portion of the Signing Bonus is to be
                  repaid to the Company, the Executive shall repay such amount
                  within five days of the termination of his employment or, at
                  the Company's option, the amount shall be set off and deducted
                  from other amounts, if any, owed by the Company to the
                  Executive.

                           (ii) The Executive shall have the opportunity to
                  receive an annual bonus of up to one hundred percent (100%) of
                  his Base Salary upon achievement of goals to be agreed upon by
                  the Executive and the Compensation Committee of the Board. Any
                  bonus shall be paid at such time as bonuses are regularly paid
                  to senior executives of the Company.

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                  (c) STOCK OPTION. The Executive shall receive a non-qualified
         stock option in the form attached to purchase five hundred thousand
         (500,000) shares of Common Stock of the Company on the second full
         business date following the date the Company publicly announces its
         financial results for the first quarter of fiscal 2000 (the "Stock
         Option").

                  (d) OTHER BENEFITS. During his employment and subject to any
         terms and conditions generally applicable to senior executives of the
         Company, the Executive shall be entitled to receive a car allowance and
         all employee benefits currently provided to senior executives of the
         Company so long as and to the extent any such benefit is provided by
         the Company and, with respect to benefits provided under benefit plans,
         provided that the Executive is otherwise eligible or insurable in
         accordance with the terms of the benefit plan. The Company may alter,
         modify, add to or delete any employee benefit maintained for its
         employees generally at any time as it, in its sole judgment, determines
         to be appropriate, without recourse by the Executive.

                  (e) BUSINESS EXPENSES. The Company shall pay or reimburse the
         Executive for all reasonable and necessary business expenses incurred
         or paid by the Executive in the performance of his duties and
         responsibilities hereunder, subject to any maximum annual limit and
         other reasonable restrictions on such expenses set by the Board and to
         such reasonable substantiation and documentation as may be specified by
         the Company from time to time consistent with the requirements imposed
         on other senior executives of the Company.

         4. TERMINATION OF EMPLOYMENT AND SEVERANCE BENEFITS. The Executive's
employment hereunder shall terminate under the following circumstances:

                  (a) DEATH. In the event of the Executive's death, the
         Executive's employment hereunder shall immediately and automatically
         terminate. The Company shall pay to the Executive's designated
         beneficiary or, if no beneficiary has been designated by the Executive,
         to his estate any Base Salary earned but unpaid through the date of
         death.

                  (b) DISABILITY.

                         (i) The Company may terminate the Executive's
                  employment hereunder, upon notice to the Executive, in the
                  event that the Executive becomes disabled through any illness,
                  injury, accident or condition of either a physical or
                  psychological nature and, as a result, is unable to perform
                  substantially all of his duties and responsibilities hereunder
                  for an aggregate of 180 days during any period of 365
                  consecutive calendar days.

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                        (ii) The Board may designate another employee to act in
                  the Executive's place during any period of the Executive's
                  disability. Notwithstanding any such designation, the
                  Executive shall continue to receive (A) Base Salary and (B)
                  benefits in accordance with Section 3(d), to the extent
                  permitted by the then-current terms of the applicable benefit
                  plans and applicable law, until the earliest of the following:
                  (1) the Executive becomes eligible for disability income
                  benefits under any disability income plan maintained by the
                  Company, (2) the Executive becomes employed by another
                  employer or (3) the first anniversary of the termination of
                  his employment.

                       (iii) While receiving disability income payments under
                  any disability income plan maintained by the Company, the
                  Executive shall not be entitled to receive any Base Salary or
                  bonus under Section 3(b), but shall continue to participate in
                  the Company's benefit plans in accordance with Section 3(d)
                  and the terms of such plans, until the termination of his
                  employment.

                        (iv) If any question shall arise as to whether during
                  any period the Executive is disabled through any illness,
                  injury, accident or condition of either a physical or
                  psychological nature so as to be unable to perform
                  substantially all of his duties and responsibilities
                  hereunder, the Executive may, and at the request of the
                  Company shall, submit to a medical examination by a physician
                  selected by the Company to whom the Executive or his duly
                  appointed guardian, if any, has no reasonable objection to
                  determine whether the Executive is so disabled, and such
                  determination shall for the purposes of this Agreement be
                  conclusive of the issue. If such question shall arise and the
                  Executive shall fail to submit to such medical examination,
                  the Board's determination of the issue shall be binding on the
                  Executive.

                  (c) TERMINATION BY THE COMPANY FOR CAUSE. The Company may
         terminate the Executive's employment hereunder for Cause at any time
         upon notice to the Executive setting forth in reasonable detail the
         nature of such Cause. Upon the giving of notice of termination of the
         Executive's employment hereunder for Cause, the Company shall have no
         further obligation or liability to the Executive relating to the
         Executive's employment hereunder, or the termination thereof, other
         than for Base Salary earned but unpaid through the date of termination.

                  (d) TERMINATION BY THE COMPANY OTHER THAN FOR CAUSE. The
         Company may terminate the Executive's employment hereunder other than
         for Cause at any time upon 30 days' notice to the Executive or, at the
         Company's option, payment to the Executive of 30 days' salary in lieu
         of such notice, in which case the "date of termination" for purposes of
         this Agreement shall be the last day of such 30-day period. In the
         event of such termination, the Company shall pay the Executive (i)

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         Base Salary earned but unpaid through the date of termination and (ii)
         the amount specified in Section 4(g).

                  (e) TERMINATION BY THE EXECUTIVE FOR GOOD REASON. The
         Executive may terminate his employment hereunder for Good Reason at any
         time upon notice to the Company setting forth in reasonable detail the
         nature of such Good Reason. In the event of termination in accordance
         with this Section, the Company shall pay the Executive (i) Base Salary
         earned but unpaid through the date of termination and (ii) the amount
         specified in Section 4(g).

                  (f) TERMINATION BY THE EXECUTIVE OTHER THAN FOR GOOD REASON.
         The Executive may terminate his employment hereunder other than for
         Good Reason at any time upon 90 days' notice to the Company; provided,
         however, that the Board, in its sole discretion, may elect to waive the
         period of notice or any portion thereof. In the event of termination by
         the Executive pursuant to this Section, the Company will pay the
         Executive his Base Salary for the period of notice, except to the
         extent the period of notice (or any remaining portion thereof) is
         waived by the Board. Upon the giving of notice of termination of the
         Executive's employment hereunder pursuant to this Section, the Company
         shall have no further obligation or liability to the Executive relating
         to the Executive's employment hereunder, or the termination thereof,
         other than payment to the Executive of his Base Salary for the period
         (or portion of such period) indicated above in this Section.

                  (g)    SEVERANCE.

                         (i) Except to the extent provided in subsection (ii)
                  below, in the event that the Executive's employment is
                  terminated (A) by the Company pursuant to Section 4(d) or (B)
                  by the Executive in accordance with Section 4(e), the
                  Executive will be entitled to (a) monthly severance payments,
                  each in an amount equal to 1/12 of the sum of (1) the Base
                  Salary at the time of such termination and (2) the Executive's
                  target fiscal year bonus at the time of termination, pro-rated
                  to the date of termination, and (b) the continuation of
                  benefits for the Executive and his family as set forth in
                  Section 3(d), to the extent permitted by the terms of such
                  plans and by applicable law, in each case for a period of
                  twelve months following such termination. In addition, the
                  Repurchase Right in the Stock Option shall lapse as to 125,000
                  shares of Common Stock of the Company, adjusted in the event
                  of a stock split, stock dividend or similar transaction.

                        (ii) In the event that the Executive's employment is
                  terminated following a Change of Control (A) by the Executive
                  in accordance with Section 4(f) more than six months but less
                  than twelve months following the Change of Control, (B) by the
                  Executive in accordance with Section 4(e) within six months of
                  the Change of Control or (C) by the Company in

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                  accordance with Section 4(d) within six months of the Change
                  of Control, the Executive shall be paid, within ten business
                  days following termination of employment, a lump sum cash
                  amount equal to three hundred percent (300%) of the sum of (A)
                  the Executive's Base Salary immediately prior to the Change of
                  Control and (B) the average of the bonuses paid to the
                  Executive for the two fiscal years immediately preceding the
                  Change of Control or, if two fiscal years have not elapsed,
                  the bonus paid to the Executive for the fiscal year
                  immediately preceding the Change of Control or, if one fiscal
                  year has not elapsed, the target bonus for the not-yet elapsed
                  fiscal year (collectively, the "Change of Control Payment").
                  In addition, to the extent the Company is able to do so under
                  its existing plans and arrangements, the Company shall
                  continue for a period of three years from the date of
                  termination to provide the Executive with the benefits
                  referred to under Section 3(d) of this Agreement (subject to
                  any contributions required of plan participants generally).
                  The Company's obligation to provide each such benefit shall
                  terminate immediately upon the Executive's becoming eligible
                  (either as a participant or a dependent) to participate in a
                  plan providing comparable benefits sponsored by another
                  employer, except that the Company shall pay any increase in
                  the contribution to premiums required of Executive (or the
                  plan participant of whom the Executive is a dependent, if
                  applicable) in order to participate in such other employer's
                  plan.

                       (iii) The Executive may elect to reduce the total Change
                  of Control Payment so that not more than 299% of the
                  Executive's Base Compensation (for purposes of I.R.C. Section
                  280G) is payable to the Executive.

                        (iv) The Company's obligation to pay and provide the
                  severance benefits under this Section is conditioned on the
                  Executive's prior execution and delivery (without subsequent
                  revocation, to the extent permitted therein) of a release and
                  waiver, in a form reasonably acceptable to the Executive,
                  releasing all claims the Executive may have with respect to
                  the termination of his employment by the Company except for
                  claims based upon monies or benefits then earned or accrued
                  and unpaid.

         5. COVENANT NOT TO COMPETE. For a period of one (1) year from the date
the Executive's employment with the Company terminates, regardless of the reason
for such termination, the Executive will not engage or become interested,
directly or indirectly, as an owner, employee, director, partner, consultant,
through stock ownership, investment of capital, lending of money or property,
rendering of services, or otherwise, either alone or in association with others,
in the operation, management or supervision of any type of business or
enterprise that directly or indirectly competes with the business of the
Company, as the Company's business is constituted at the time the Executive's
employment terminates (a "Competitive Business"); provided, however, that the
foregoing shall not be deemed to prohibit the Executive from being employed by
or providing services to a Competitive

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Business if the nature of such employment or services do not directly or
indirectly compete with the business engaged in by the Company at the time the
Executive's employment terminates. In addition, during such period, the
Executive will not, directly or indirectly, whether on his behalf or on behalf
of anyone else, (a) solicit or accept orders from any present or past customer
of the Company for a product or service offered or sold by, or competitive with
a product or service offered or sold by, the Company; (b) induce or attempt to
induce any such customer to cease or reduce such customer's business with the
Company; (c) use for the benefit of the Executive or disclose the name and/or
requirements of any such customer to any other person or persons, natural or
corporate; or (d) solicit any of the Company's employees or consultants to leave
the employ of the Company or hire any such employees.

         6.        CONFIDENTIAL INFORMATION.

                  (a) The Executive acknowledges that (i) the Company will
         continually develop Confidential Information (as such term is defined
         in Section 9 below), (ii) the Executive may develop Confidential
         Information for the Company and (iii) the Executive may learn of
         Confidential Information during the course of his employment. The
         Executive agrees that, except as required for the proper performance of
         his duties for the Company, he will not, directly or indirectly, use or
         disclose any Confidential Information. The Executive understands and
         agrees that this restriction will continue to apply after his
         employment terminates, regardless of the reason for termination.

                  (b) The Executive agrees that all Confidential Information
         which he creates, and to which he has access as a result of his
         employment, is and shall remain the sole and exclusive property of the
         Company. Except as required for the proper performance of his duties,
         the Executive will not copy any documents, tapes or other media
         containing Confidential Information ("Documents") or remove any
         Documents, or copies of Documents, from Company premises. The Executive
         will return to the Company immediately after his employment terminates,
         and at such other times as may be specified by the Company, all
         Documents and copies of Documents and all other property of the Company
         then in his possession or control.

         7. ENFORCEMENT OF COVENANTS. The Executive acknowledges that he has
carefully read and considered all the terms and conditions of this Agreement,
including, without limitation, the restraints imposed upon him pursuant to
Sections 5 and 6 hereof. The Executive further agrees that all goodwill of the
Company is its exclusive property. The Executive further acknowledges and agrees
that, if he acts in breach of any of the covenants contained in Section 5 or 6
hereof, the damage will be irreparable. The Executive therefore agrees that the
Company, in addition to any other remedies available to it, shall be entitled to
preliminary and permanent injunctive relief against any breach or threatened
breach by the Executive of any of said covenants, without having to post bond.

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         8. CONFLICTING AGREEMENTS. The Executive hereby represents and warrants
that the execution of this Agreement and the performance of his obligations
hereunder will not be in breach or be in conflict with any other agreement to
which the Executive is a party or is bound and that the Executive is not subject
to any covenants against competition or similar covenants that would affect the
performance of his obligations hereunder. The Executive will not disclose or use
any proprietary information of a third party without such party's consent.

         9. DEFINITIONS. Words or phrases which are initially capitalized or are
within quotation marks shall have the meanings provided in this Section 9 and as
provided elsewhere herein. For purposes of this Agreement, the following
definitions apply:

                  (a) "CONFIDENTIAL INFORMATION" means any and all information,
         inventions, discoveries, ideas, research, engineering methods,
         practices, processes, systems, formulae, designs, concepts, products,
         projects, improvements and developments that are not generally known by
         others, developed by or known to the Executive during the term of his
         employment by the Company (and not previously) and relating in any
         respect to the Company, including its business, products or services
         (or learned by the Executive from a source known to the Executive to be
         violating an obligation to the Company not to disclose the same) or
         that are developed by the Executive during his employment by the
         Company and that have applicability to the business, products or
         services of the Company, including but not limited to (i) products and
         services, technical data, methods and processes, (ii) marketing
         activities and strategic plans, (iii) costs and sources of supply, (iv)
         the identity and special needs of customers and prospective customers
         and vendors and prospective vendors, and (v) the people and
         organizations with whom the Company has or plans to have business
         relationships and those relationships. Confidential Information also
         includes such information that the Company may receive or has received
         belonging to customers or others who do business with the Company and
         any publication or literary creation of the Executive, developed in
         whole or in significant part during his employment by the Company, in
         whatever form published, whose content in whole or in part is
         competitive in any material respect with the products or services
         offered by the Company (including, without limitation, as such products
         or services could reasonably be expected to evolve or be extended in
         the foreseeable future).

                  (b) "PERSON" means an individual, a corporation, an
         association, a partnership, an estate, a trust and any other entity or
         organization.

                  (c) "GOOD REASON" means (i) failure by the Company to maintain
         the Executive in the position described in Section 2, (ii) assignment
         to the Executive of duties materially inconsistent with his nominal
         position, or the removal of the authority and responsibility which is
         reasonably necessary for the Executive to carry out his duties in such
         position, (iii) relocation of the Executive's principal place of work
         to a location more than 50 miles from Westford, Massachusetts, (iv)
         failure by

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         the Company to provide the Executive with the compensation and benefits
         described in Section 3, in each case provided that (x) within 30 days
         following the date the Executive learns of the onset of such Good
         Reason, the Executive gives written notice of his resignation
         identifying the event or change constituting Good Reason and (y) the
         Company does not alleviate the Good Reason so identified within 30 days
         following its receipt of such notice from the Executive.

                  (d) "CHANGE OF CONTROL" means the occurrence of any of the
         following events:

                         (i) any Person becomes the owner of 20% or more of the
                  Company's Common Stock; provided, however, that the Board may
                  unilaterally amend this clause (i) to increase the 20%
                  threshold to any percentage up to, but not exceeding, 50%; or

                        (ii) individuals who, as of the Effective Date,
                  constitute the Board (the "Continuing Directors") cease for
                  any reason to constitute at least a majority of such Board;
                  provided, however, that any individual becoming a director
                  after the Effective Date whose election or nomination for
                  election by the Company's shareholders was approved by a vote
                  of at least a majority of the Continuing Directors will be
                  deemed to be a Continuing Director, but excluding for this
                  purpose any such individual whose initial assumption of office
                  occurs as a result of either an actual or threatened election
                  contest (as such terms are used in Rule 14a-11 of Regulation
                  14A promulgated under the Securities and Exchange Act of 1934
                  (the "Exchange Act")) or other actual or threatened
                  solicitation of proxies or consents by or on behalf of a
                  Person other than the Board; or

                       (iii) approval by the shareholders of the Company of a
                  reorganization, merger, consolidation or other transaction
                  that will result in the transfer of ownership of more than 50%
                  of the Company's outstanding shares of Common Stock; or

                        (iv) liquidation or dissolution of the Company or sale
                  of all or substantially all of the Company's assets.

                           In addition, for purposes of this definition of
                  Change of Control the following terms have the meanings set
                  forth below:

                           "COMMON STOCK" means the then outstanding Common
                  Stock of the Company plus, for purposes of determining the
                  stock ownership of any Person, the number of unissued shares
                  of Common Stock which such Person has the right to acquire
                  (whether such right is exercisable immediately or only after
                  the passage of time) upon the exercise of conversion rights,
                  exchange

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                  rights, warrants or options or otherwise. Notwithstanding the
                  foregoing, the term "COMMON STOCK" does not include shares of
                  preferred stock or convertible debt or options or warrants to
                  acquire shares of Common Stock (including any shares of Common
                  Stock issued or issuable upon the conversion or exercise
                  thereof) to the extent that the Board expressly so determines
                  in any future transaction or transactions.

                           A Person will be deemed to be the "OWNER" of any
                  Common Stock of which such Person would be the "BENEFICIAL
                  OWNER", as such term is defined in Rule 13d-3 promulgated by
                  the Securities and Exchange Commission under the Exchange Act.

                           "PERSON" has the meaning used in Section 13(d) of the
                  Exchange Act, except that "Person" does not include (i) the
                  Executive, an Executive Related Party, or any group of which
                  the Executive or Executive Related Party is a member, or (ii)
                  the Company or a wholly-owned subsidiary of the Company or an
                  employee benefit plan (or related trust) of the Company or of
                  a wholly-owned subsidiary.

                           An "EXECUTIVE RELATED PARTY" means any affiliate or
                  associate of the Executive other than the Company or a
                  subsidiary of the Company. The terms "AFFILIATE" and
                  "ASSOCIATE" have the meanings given in Rule 12b-2 under the
                  Exchange Act; the term "REGISTRANT" in the definition of
                  "associate" means, in this case, the Company.

                  (e) "CAUSE" shall mean (i) conviction of the Executive for a
                  fraudulent act involving the Company or a felony (other than
                  negligent operation of a motor vehicle), (ii) willful
                  misfeasance, illegal, dishonest or negligent conduct which
                  constitutes a breach of the Executive's covenants and
                  obligations under this Agreement or under any applicable legal
                  principle or which involves funds or other assets of the
                  Company, or (iii) any conduct which is likely to have an
                  adverse effect upon the goodwill or business position of the
                  Company; provided, that, with respect to either (ii) or (iii),
                  if the Executive's conduct does not involve willful or
                  dishonest conduct, then, prior to termination, the Company
                  will give the Executive written notice of the conduct
                  constituting "cause" and a reasonable opportunity to cure.

         10. WITHHOLDING. All payments made under this Agreement shall be
reduced by any tax or other amounts required to be withheld under applicable
law.

         11. ASSIGNMENT. Neither the Company nor the Executive may make any
assignment of this Agreement or any interest herein, by operation of law or
otherwise, without the prior written consent of the other; provided, however,
that the Company may assign its rights and obligations under this Agreement
without the consent of the Executive

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in the event that the Company shall hereafter effect a reorganization,
consolidate with, or merge into, any other Person or transfer all or
substantially all of its properties or assets to any other Person. This
Agreement shall inure to the benefit of and be binding upon the Company and the
Executive, and their respective successors, executors, administrators, heirs and
permitted assigns.

         12. SEVERABILITY. If any portion or provision of this Agreement shall
to any extent be declared illegal or unenforceable by a court of competent
jurisdiction, then the remainder of this Agreement, or the application of such
portion or provision in circumstances other than those as to which it is so
declared illegal or unenforceable, shall not be affected thereby, and each
portion and provision of this Agreement shall be valid and enforceable to the
fullest extent permitted by law.

         13. WAIVER. No waiver of any provision hereof shall be effective unless
made in writing and signed by the waiving party. The failure of either party to
require the performance of any term or obligation of this Agreement, or the
waiver by either party of any breach of this Agreement, shall not prevent any
subsequent enforcement of such term or obligation or be deemed a waiver of any
subsequent breach.

         14. NOTICES. Any and all notices, requests, demands and other
communications provided for by this Agreement shall be in writing and shall be
effective when delivered in person or deposited in the United States mail,
postage prepaid, registered or certified, and addressed to the Executive at his
last known address on the books of the Company or, in the case of the Company,
at the Company's principal place of business, to the attention of the Chief
Financial Officer, or to such other address as either party may specify by
notice to the other actually received.

         15. ENTIRE AGREEMENT. This Agreement constitutes the entire agreement
between the parties and supersedes all prior communications, agreements and
understandings, written or oral, with respect to the terms and conditions of the
Executive's employment, including without limitation any agreements relating to
employment between the Executive and any corporate predecessor or promoter of
the Company, any such agreement being hereby terminated by the mutual agreement
of the parties without liability to either party.

         16. AMENDMENT. This Agreement may be amended or modified only by a
written instrument signed by the Executive and by an expressly authorized
representative of the Company.

         17. HEADINGS. The headings and captions in this Agreement are for
convenience only and in no way define or describe the scope or content of any
provision of this Agreement.

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         18. COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which shall be an original and all of which together shall
constitute one and the same instrument.

         19. GOVERNING LAW. This Agreement shall be construed and enforced under
and be governed in all respects by the laws of the Commonwealth of
Massachusetts, without regard to the conflict of laws principles thereof.

         IN WITNESS WHEREOF, this Agreement has been executed as a sealed
instrument by the Executive and by the Company by its duly authorized
representative, as of the date first above written.

Executive:                             GENRAD, INC.

/s/ Robert M. Dutkowsky                   /s/ Ed Zschau
                                       By:
-----------------------                   -----------------------
Robert M. Dutkowsky                       Name: Ed Zschau
                                          Title: Chair, Compensation Committee

                                       12<PAGE>
                                                                   Exhibit 10.01

                               INDEMNITY AGREEMENT

         This Indemnity Agreement, dated as of                      , 2000,
is made by and between Cadence Design Systems, Inc., a Delaware corporation
(the "Company"), and                      , a                             of
the Company (the "Indemnitee").

                                     RECITALS

         A. The Company is aware that competent and experienced persons are
increasingly reluctant to serve as directors or officers of corporations
unless they are protected by comprehensive liability insurance or
indemnification, due to increased exposure to litigation costs and risks
resulting from their service to such corporations, and due to the fact that
the exposure frequently bears no reasonable relationship to the compensation
of such directors and officers;

         B. The statutes and judicial decisions regarding the duties of
directors and officers area often difficult to apply, ambiguous, or
conflicting, and therefore fail to provide such directors and officers with
adequate, reliable knowledge of legal risks to which they are exposed or
information regarding the proper course of action to take;

         C. Plaintiffs often seek damages in such large amounts and the costs
of litigation may be so substantial (whether or not the case is meritorious),
that the defense and/or settlement of such litigation is often beyond the
personal resources of officers and directors;

         D. The Company believes that it is unfair for its directors and
officers and the directors and officers of its subsidiaries to assume the
risk of large judgments and other expenses that may be incurred in cases in
which the director or officer received no personal profit and in cases where
the director or officer was not culpable;

         E. The Company recognizes that the issues in controversy in
litigation against a director or officer of a corporation such as the Company
or a subsidiary of the Company are often related to the knowledge, motives
and intent of such director or officer, that he is usually the only witness
with knowledge of the essential facts and exculpating circumstances regarding
such matters and that the long period of time which usually elapses before
the trial or other disposition of such litigation often extends beyond the
time that the director or officer can reasonably recall such matters; and may
extend beyond the normal time for retirement for such director or officer
with the result that he, after retirement or in the event of his death, his
spouse, heirs, executors or administrators, may be faced with limited ability
and undue hardship in maintaining an adequate defense, which may discourage
such a director or officer from serving in that position;

         Based upon their experience as business managers, the Board of
Directors of the Company (the "Board") has concluded that, to retain and attract
talented and experienced

                                                                              1

<PAGE>

individuals to serve as officers and directors of the Company and its
subsidiaries and to encourage such individuals to take the business risks
necessary for the success of the Company and its subsidiaries, it is
necessary for the Company to contractually indemnify its officers and
directors and the officers and directors of its subsidiaries in connection
with claims against such persons in connection with their service, and has
further concluded that the failure to provide such contractual
indemnification could result in great harm to the Company and its
subsidiaries and the Company's shareholders;

         F. The Company desires and has requested the Indemnitee to serve or
continue to serve as a director or officer of the Company and/or the
subsidiaries of the Company free from undue concern for claims for damages
arising out of or related to such services to the Company and/or the
subsidiaries of the Company; and

         G. The Indemnitee is willing to serve, or to continue to serve, the
Company and/or the subsidiaries of the Company that he is furnished the
indemnity provided for herein.

                                    AGREEMENT

         NOW, THEREFORE, the parties hereto, intending to be legally bound,
hereby agree as follows:

         1.       DEFINITIONS.

                  (a) COVERED PERSON. For purposes of this Agreement, a
"covered person" shall include the Indemnitee and any heir, executor,
administrator or other legal representative of the Indemnitee following his
or her death or incapacity.

                  (b) EXPENSES. For purposes of this Agreement, "expenses"
includes all direct and indirect costs of any type or nature whatsoever
(including, without limitation, all attorneys' fees and related disbursements
and other out-of-pocket costs) actually and reasonably incurred by the
Indemnitee in connection with either the investigation, defense or appeal of
a proceeding or establishing or enforcing a right to indemnification under
this Agreement, Section 145 or otherwise.

                  (c) PROCEEDING. For the purposes of this Agreement,
"proceeding" means any threatened, pending, or completed action, suit or
other proceeding, whether civil, criminal, administrative, investigative or
any other type whatsoever, and including any of the foregoing commenced by or
on behalf of the Company, derivatively or otherwise.

                  (d) SUBSIDIARY. For purposes of this Agreement,
"subsidiary" means any corporation of which more than 50% of the outstanding
voting securities is owned directly or indirectly by the Company, and one or
more other subsidiaries, or by one or more other subsidiaries.

         2. AGREEMENT TO SERVE. The Indemnitee agrees to serve and/or
continue to serve the Company and/or its subsidiaries in his present
capacity, so long as he is duly appointed or elected or until such time as he
tenders his resignation in writing, provided, however, that nothing contained
in this Agreement is intended to create any right to continued employment by
Indemnitee.

                                                                             2

<PAGE>

         3.       MAINTENANCE OF LIABILITY INSURANCE.

                  (a) The Company hereby covenants and agrees that, so long
as the Indemnitee shall continue to serve as an officer or director of the
Company or any of its subsidiaries, and thereafter so long as the Indemnitee
shall be subject to any possible proceeding by reason of such service, the
Company, subject to Section 3(b), shall use reasonable efforts to obtain and
maintain in full force and effect directors' and officers' liability
insurance ("D&O Insurance") in reasonable amounts from established and
reputable insurers.

                  (b) Notwithstanding the foregoing, the Company shall have
no obligation to obtain or maintain D&O Insurance if the Company determines
in good faith that such insurance is not reasonably available, the premium
costs for such insurance are disproportionate to the amount of coverage
provided, the coverage provided by such insurance is limited by exclusions so
as to provide an insufficient benefit, or the Indemnitee is covered by
similar insurance maintained by a subsidiary of the Company.

         4.       MANDATORY INDEMNIFICATION.

                  (a) RIGHT TO INDEMNIFICATION. In the event a covered person
was or is made a parity or is threatened to be made a party to or is involved
in any proceeding, by reason of the fact that the Indemnitee is or was a
director, officer or employee of the Company (including any subsidiary or
affiliate thereof or any constituent corporation or any of the foregoing
absorbed in any merger) or is or was serving at the request of the Company
(including such subsidiary, affiliate or constituent corporation) as a
director, officer or employee of another corporation, or of a partnership,
joint venture, trust or other entity, including service with respect to
employee benefit plans, such person shall be indemnified and held harmless by
the Company to the fullest extent permitted by applicable law, against all
expenses, liability and loss (including, without limitation, attorneys' fees,
judgments, fines, ERISA excise and other taxes and penalties and amounts paid
or to be paid in settlement) reasonably incurred or suffered by such person
in connection therewith. Such indemnification shall continue after the
Indemnitee has ceased to serve in such capacity and shall inure to the
benefit of his heirs, executors and administrators; provided, however, that
except for a proceeding pursuant to Section 7, the Company shall indemnify
any such person in connection with a proceeding (or part thereof) initiated
by such person only if such proceeding (or part thereof) was authorized by
the Board of Directors of the Company.

                  (b) EXCEPTION FOR AMOUNTS COVERED BY INSURANCE.
Notwithstanding the foregoing, the Company shall not be obligated to
indemnify a covered person for expenses or liabilities of any type whatsoever
(including, but not limited to, judgments, fines, ERISA excise taxes or
penalties, and amounts paid in settlement) which have been paid directly to
such person by D&O Insurance.

                  (c) PARTIAL INDEMNIFICATION. If a covered person is
entitled under any provision of this Agreement to indemnification by the
Company for some or a portion of any expenses or liabilities of any type
whatsoever (including, but not limited to, judgments, fines, ERISA excise
taxes or penalties, and amounts paid in settlement) incurred by him in the

                                                                             3
<PAGE>

investigation, defense, settlement or appeal of a proceeding but not
entitled, however, to indemnification for all of the total amount thereof,
the Company shall nevertheless indemnify such person for such total amount
except as to the portion thereof to which the Indemnitee is not entitled.

         5. MANDATORY ADVANCEMENT OF EXPENSES. The Company shall pay all
expenses incurred by a covered person, or in defending any such proceeding as
they are incurred in advance of its final disposition; provided, however,
that if the Delaware General Corporations Law then so requires, the payment
of such expenses incurred in advance of the final disposition of such
proceeding shall be made only upon delivery to the Company of an undertaking,
by or on behalf of such covered person, to repay all amounts so advanced if
it should be determined ultimately that such person is not entitled to the
payment of such expenses by the Company.

         6.       NOTICE AND OTHER INDEMNIFICATION PROCEDURES.

                  (a) Promptly after receipt by a covered person of notice of
the commencement of or the threat of commencement of any proceeding, such
person shall, if such person believes that indemnification with respect
thereto may be sought from the Company under this Agreement, notify the
Company of the commencement or threat of commencement thereof.

                  (b) If, at the time of the receipt of a notice of the
commencement of a proceeding, the Company has D&O Insurance in effect, the
Company shall give prompt notice of the commencement of such proceeding to
the insurers in accordance with the procedures set forth in the respective
policies. The Company shall thereafter take all necessary or desirable action
to cause such insurers to pay, on behalf of the covered person, all amounts
payable as a result of such proceeding in accordance with the terms of such
policies.

                  (c) In the event the Company shall be obligated to advance
the expenses for any proceeding against the covered person, the Company, if
appropriate, shall be entitled to assume the defense of such proceeding, with
counsel approved by the covered person (such approval not to be unreasonably
withheld), upon the delivery to the covered person of written notice of its
election so to do. After delivery of such notice, approval of such counsel by
the covered person and the retention of such counsel by the Company, the
Company will not be liable to the covered person under this Agreement for any
fees of counsel subsequently incurred by the covered person with respect to
the same proceeding, provided that (i) the covered person shall have the
right to employ separate counsel in any such proceeding at the covered
person's expense; and (ii) if (A) the employment of counsel by the covered
person has been previously authorized by the Company, (B) the covered person
shall have reasonably concluded that there may be a conflict of interest
between the Company the covered person in the conduct of any such defense of
(C) the Company shall not, in fact, have employed counsel to assume the
defense of such proceeding, the fees and expenses of the covered person's
counsel shall be at the expense of the Company.

         7. RIGHT OF INDEMNITEE TO BRING SUIT. If a claim for indemnification
or advancement of expenses hereunder is not paid in full by the Company
within sixty days after a written claim has been received by the Company,
except in the case of a claim for an advancement of expenses, in which case
the applicable period shall be twenty days, the covered person may at

                                                                             4

<PAGE>

any time thereafter bring suit against the Company to recover the unpaid
amount of the claim. If successful in whole or in part in any such suit, or
in a suit brought by the Company to recover and advancement of expenses
pursuant to the terms of an undertaking, the covered person shall be entitled
to be paid also the expense of prosecuting or defending such suit. In (i) any
suit brought by a covered person to enforce a right to indemnification
hereunder (but not in a suit brought by a covered person to enforce a right
to an advancement of expenses) it shall be a defense that, and (ii) in any
suit by the Company to recover an advancement of expenses pursuant to the
terms of an undertaking the Company shall be entitled to recover such
expenses upon a final adjudication that, indemnification is not permitted by
applicable law. Neither the failure of the Company (including its Board of
Directors, independent legal counsel or its stockholders) to have made a
determination prior to the commencement of such suit that indemnification of
the covered person is proper in the circumstances, nor an actual
determination by the Company (including its Board of Directors, independent
legal counsel or its stockholders) that indemnification is not proper, shall
create a presumption that the covered person is not entitled to
indemnification or, in the case of such a suit brought by a covered person,
be a defense to such suit. In any suit brought by a covered person to enforce
a right to indemnification or to an advancement of expenses hereunder, or by
the Company to recover an advancement of expenses pursuant to the terms of an
undertaking, the burden of proving that the covered person is not entitled to
be indemnified, or to such advancement of expenses, shall be on the Company.

         8. LIMITATION OF ACTIONS AND RELEASE OF CLAIMS. No proceeding shall
be brought and no cause of action shall be asserted by or on behalf of the
Company or any subsidiary against the Indemnitee, his spouse, heirs, estate,
executors or administrators after the expiration of one year from the act or
omission of the Indemnitee upon which such proceeding is based; however, in a
case where the Indemnitee fraudulently conceals the facts underlying such
cause of action, no proceeding shall be brought and no cause of action shall
be asserted after the expiration of one year from the earlier of (i) the date
the Company or any subsidiary of the Company discovers such facts, or (ii)
the date the Company of any subsidiary of the Company could have discovered
such facts by the exercise of reasonable diligence. Any claim or cause of
action of the Company or any subsidiary of the Company, including claims
predicated upon the negligent act or omission of the Indemnitee, shall be
extinguished and deemed released unless asserted by filing of a legal action
within such period. This Section 8 shall not apply to any cause of action
which has accrued on the date hereof and of which the Indemnitee is aware on
the date hereof, but as to which the Company has no actual knowledge apart
from the Indemnitee's knowledge.

         9. NON-EXCLUSIVITY. The provisions for indemnification and
advancement of expenses set forth in this Agreement shall not be deemed
exclusive of any other rights which the Indemnitee or any covered person may
have under any provision of law, the Company's Certificate of Incorporation
or Bylaws, the vote of the Company's shareholders or disinterested directors,
other agreements, or otherwise, both as to action in his official capacity
and to action in another capacity while occupying his position as an officer,
director or employee of the Company, and the Indemnitee's right hereunder
shall continue after the Indemnitee has ceased to so act and shall inure to
the benefit of any heir, executor, administrator or other legal
representative of the Indemnitee. Notwithstanding the foregoing, the prior
indemnification agreement, executed by the Indemnitee on __________, is
superceded by this Agreement.

                                                                             5

<PAGE>

         10. INTERPRETATION OF AGREEMENT. It is understood that the parties
hereto intend this Agreement to be interpreted and enforced so as to provide
indemnification to the Indemnitee to the fullest extent now or hereafter
permitted by law.

         11. SEVERABILITY. If any provision or provisions of this Agreement
shall be held to be invalid, illegal or unenforceable for any reason
whatsoever, (i) the validity, legality and enforceability of the remaining
provisions of the Agreement (including, without limitation, all portions of
any paragraphs of this Agreement containing any such provision held to be
invalid, illegal or unenforceable, that are not themselves invalid, illegal
or unenforceable) shall not in any way be affected or impaired thereby, and
(ii) to the fullest extent possible, the provisions of this Agreement
(including, without limitation, all portions of any paragraphs of this
Agreement containing any such provision held to be invalid, illegal or
unenforceable, that are not themselves invalid, illegal or unenforceable)
shall be construed so as to give effect to Section 10 hereof.

         12. MODIFICATION AND WAIVER. No supplement, modification or
amendment of this Agreement shall be binding unless executed in writing by
both of the parties hereto. No waiver of any of the provisions of this
Agreement shall be deemed or shall constitute a waiver of any other provision
hereof (whether or not similar) nor shall such waiver constitute a continuing
waiver.

         13. SUCCESSORS AND ASSIGNS. The terms of this Agreement shall bind,
and shall inure to the benefit of, the successors and assigns of the parties
hereto.

         14. NOTICE. All notices, requests, demands and other communications
under this Agreement shall be in writing and shall be deemed duly given (i)if
delivered by hand and receipted for by the party addressee or (ii) if mailed
by certified or registered mail with postage prepaid, on the third business
day after the mailing date. Addresses for notice to either party are as shown
on the signature page of this Agreement, or as subsequently modified by
written notice.

         15. GOVERNING LAW. This Agreement shall be governed exclusively by
and construed according to the laws of the State of Delaware, as applied to
contracts between Delaware residents entered into and to be performed
entirely with Delaware.

         16. CONSENT TO JURISDICTION. The Company and the Indemnitee each
hereby irrevocably consent to the jurisdiction of the courts of the State of
Delaware for all purposes in connection with any action or proceeding which
arises out of or relates to this Agreement.

                                                                             6

<PAGE>

         The parties hereto have entered into this Indemnity Agreement
effective as of the date first above written.

                                       CADENCE DESIGN SYSTEMS, INC.

                                       By
                                         ---------------------------------
                                       Its
                                           -------------------------------
                                       Address:
                                               ---------------------------

                                       INDEMNITEE

                                       By
                                         ---------------------------------
                                       Address:
                                           -------------------------------

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

                                                                             7

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