Document:

<Page>

                                                                  EXHIBIT 10.18

                             STOCKHOLDERS AGREEMENT
                                       OF
                                RBS GLOBAL, INC.

This Stockholders Agreement ("AGREEMENT") is entered into as of this 25th day of
November, 2002, by and among RBS Global, Inc. (the "COMPANY"), Carlyle Partners
III, L.P., a Delaware limited partnership ("CPIII"), CPIII Coinvestment, L.P., a
Delaware limited partnership ("COINVESTMENT"), and Carlyle High Yield Partners,
L.P., a Delaware limited partnership ("HIGH YIELD PARTNERS" and collectively
with CPIII and Coinvestment, the "INITIAL CARLYLE STOCKHOLDERS"), and the
Persons listed on the signature pages attached hereto (each individually, a
"MANAGEMENT STOCKHOLDER," and collectively, the "MANAGEMENT STOCKHOLDERS").
These parties are sometimes referred to herein individually by name or as a
"PARTY" and collectively as the "PARTIES". The Initial Carlyle Stockholders,
together with (i) any person or entity (other than a Management Stockholder) to
which the Initial Carlyle Stockholders may hereafter sell, assign, transfer,
convey, pledge or otherwise dispose of (collectively, "TRANSFER") any shares of
common stock, par value $0.01 per share, of the Company ("COMMON STOCK") and
(ii) any Affiliates (as defined below) of the Initial Carlyle Stockholders to
which the Company may hereafter issue shares of Common Stock that executes a
copy of this Agreement are sometimes collectively referred to herein as the
"CARLYLE STOCKHOLDERS". For purposes of this Agreement, "AFFILIATE" shall mean,
with respect to any individual, partnership, corporation, limited liability
company, business trust, joint stock company, trust, unincorporated association,
joint venture, governmental authority or other entity of whatever nature (each,
a "PERSON"), any other Person directly or indirectly controlling, controlled by,
or under common control with, such Person where "control" shall have the meaning
given such term under Rule 405 of the Securities Act of 1933, as amended (the
"Act"). For purposes of this Agreement, Affiliates of the Initial Carlyle
Stockholders shall include all Persons directly or indirectly controlled by TC
Group, L.L.C., a Delaware limited liability company.

                                    RECITALS:

                  WHEREAS, each of the Management Stockholders is an employee,
executive officer or director of the Company or one or more subsidiaries of the
Company;

                  WHEREAS, the Company has issued (or may hereafter issue) to
each Management Stockholder shares of Common Stock as a result of (i) the
purchase of Common Stock by the Management Stockholders; (ii) the exercise by
the Management Stockholder of vested options to purchase Common Stock ("VESTED
OPTIONS"), which options were issued (or may hereafter be issued) to the
Management Stockholder pursuant to the Stock Option Plan of RBS Global, Inc.
(the "STOCK OPTION PLAN"); or (iii) any other employee benefit plan hereafter
adopted by the board of directors of the Company (the "BOARD OF DIRECTORS")
and/or pursuant to any stock purchase plan hereafter adopted by the Board of
Directors (each, a "PURCHASE PLAN"); and

                  WHEREAS, the Company, the Initial Carlyle Stockholders and the
Management Stockholders desire to enter into this Agreement to provide for
certain matters with respect to the ownership and transfer by the Management
Stockholders of the shares of Common Stock now or hereafter issued or sold to
any Management Stockholders as a result of the (i) the purchase of

<Page>

Common Stock by the Management Stockholders from the Company or any Carlyle
Stockholder; (ii) the exercise of Vested Options; or (iii) the issuance of
Common Stock to the Management Stockholders pursuant to any Purchase Plan
(collectively, the "RESTRICTED SHARES").

                                   AGREEMENT:

                  NOW, THEREFORE, in consideration of the foregoing and the
mutual agreements set forth herein, and other good and valuable consideration,
the receipt and adequacy of which is hereby acknowledged, the Parties hereto,
intending to be legally bound, hereby agree as follows:

         SECTION 1. RESTRICTIONS ON TRANSFERS.

                  (a) Except as otherwise set forth below, the Management
Stockholders shall not Transfer any Restricted Shares. Any purported Transfer in
violation of the provisions of this Section 1 shall be null and void and shall
have no force or effect.

                  (b) Nothing in Section 1(a) shall prevent the Transfer of any
Restricted Shares by any Management Stockholder to (i) the Company, the Initial
Carlyle Stockholders, or any Affiliate of each; (ii) any member of a Management
Stockholder's immediate family or trusts for their benefit provided the
Management Stockholder retains the sole and exclusive right to vote and dispose
of any Restricted Shares transferred to the family member or trust; and (iii)
upon a Management Stockholder's death, the Management Stockholder's executors,
administrators, testamentary trustees, legatees and beneficiaries.

                  (c) Each Management Stockholder agrees that, as a condition
precedent to any transfer described in Section 1(b), each transferee described
in Section 1(b) (other than the Company, the Initial Carlyle Stockholders or any
Affiliate of each) shall deliver to the Company a copy of this Agreement signed
by such transferee.

         SECTION 2. RIGHTS TO REPURCHASE SHARES.

                  (a) For a period of six (6) months following the later of
(i) the Termination of Employment (as defined below) or the Termination of
Directorship (as defined below) of any Management Stockholder; and (ii) the
exercise or expiration, in accordance with the terms of the Stock Option Plan or
any stock option agreement issued thereunder, of all Vested Options held by any
Management Stockholder as of the time of the Management Stockholder's
Termination of Employment or Termination of Directorship, the Company may elect
to repurchase Restricted Shares held by the Management Stockholder or his or her
successor in interest thereunder ("CALL Right"). The Call Right may be exercised
more than once, but must be exercised with respect to all (but not less than
all) of the Restricted Shares outstanding on the date of any Call Notice (as
defined below). The repurchase price payable by the Company upon exercise of the
Call Right ("REPURCHASE PRICE") shall be the Fair Market Value (as defined
below) of the Restricted Shares subject to the Call Right on the date of the
Call Notice. The Call Right shall be exercised by written notice ("CALL NOTICE")
to the Management Stockholder given in accordance with Section 8(f) of this
Agreement on or prior to the last date on which the Call Right may be exercised
by the Company.

                                       2
<Page>

                  (b) For purposes of this Agreement, "TERMINATION OF
EMPLOYMENT" shall mean the time when the employee-employer relationship between
a Management Stockholder and the Company or one of its subsidiaries is
terminated for any reason, with or without cause, including, but not by way of
limitation, a termination by resignation, discharge, death or retirement, but
excluding a termination where there is a simultaneous reemployment by the
Company or one of its subsidiaries. For purposes of this Agreement, "TERMINATION
OF DIRECTORSHIP" shall mean the time when a Management Stockholder ceases to be
a member of the Board of Directors of the Company or one of its subsidiaries
("Director") for any reason, including, but not by way of limitation, a
termination by resignation, failure to be elected, death or retirement. The
committee appointed to administer the Stock Option Plan (the "COMPENSATION
COMMITTEE") or the Board of Directors shall determine the effect of all matters
and questions relating to Termination of Employment or Termination of
Directorship.

                  (c) Subject to Section 5 below, the repurchase of Restricted
Shares pursuant to the exercise of a Call Right shall take place on the later of
(i) the date specified by the Company which shall in no event be later than
sixty (60) days following the date of the Call Notice and (ii) within ten (10)
days following the receipt by the Company of all necessary governmental
approvals. On such date, the Management Stockholder shall transfer the
Restricted Shares subject to the Call Notice to the Company, free and clear of
all liens and encumbrances, by delivering to the Company the certificates
representing the Restricted Shares to be purchased, duly endorsed for transfer
to the Company or accompanied by a stock power duly executed in blank, and the
Company shall pay to the Management Stockholder the Repurchase Price. The
Company and the Management Stockholder each shall use his, her or its reasonable
efforts to expedite all proceedings contemplated hereunder to obtain a
determination of the Repurchase Price of the Restricted Shares at the earliest
practicable date.

                  (d) (i)     In the case of any transfer of title or beneficial
ownership of Restricted Shares upon default, foreclosure, forfeit, divorce,
court order or otherwise, other than by a voluntary decision on the part of a
Management Stockholder (each, an "INVOLUNTARY TRANSFER"), the Management
Stockholder shall promptly (but in no event later than two days after the
Involuntary Transfer) furnish written notice (the "INVOLUNTARY TRANSFER NOTICE")
to the Company indicating that the Involuntary Transfer has occurred, specifying
the name of the person to whom the shares were transferred (the "INVOLUNTARY
TRANSFEREE"), giving a detailed description of the circumstances giving rise to,
and stating the legal basis for, the Involuntary Transfer.

                      (ii)    Upon the receipt of the Involuntary Transfer
         Notice, and for 60 days thereafter, the Company shall have the right to
         elect to repurchase, and the Involuntary Transferee shall have the
         obligation to sell, all (but not less than all) of the Restricted
         Shares acquired by the Involuntary Transferee for a repurchase price
         equal to the Fair Market Value of such shares of Common Stock as of the
         date of the Involuntary Transfer (the "INVOLUNTARY TRANSFER REPURCHASE
         PRICE" and such right, the "INVOLUNTARY TRANSFER REPURCHASE RIGHT").
         The Involuntary Transfer Repurchase Right shall be exercised by written
         notice (the "INVOLUNTARY TRANSFER REPURCHASE NOTICE") to the
         Involuntary Transferee given in accordance with Section 8(f) of this
         Agreement on or prior to the last date on which the Involuntary
         Transfer Repurchase Right may be exercised by the Company.

                                       3
<Page>

                      (iii)   Subject to Section 5 below, the repurchase of
         Restricted Shares pursuant to the exercise of the Involuntary Transfer
         Repurchase Right shall take place on the later of (i) the date
         specified by the Company which shall in no event be later than sixty
         (60) days following the date of the Involuntary Transfer Repurchase
         Notice and (ii) within ten (10) days following the receipt by the
         Company of all necessary governmental approvals. On such date, the
         Involuntary Transferee shall transfer the Restricted Shares subject to
         the Involuntary Transfer Repurchase Notice to the Company, free and
         clear of all liens and encumbrances, by delivering to the Company the
         certificates representing the Restricted Shares to be purchased, duly
         endorsed for transfer to the Company or accompanied by a stock power
         duly executed in blank, and the Company shall pay to the Involuntary
         Transferee the Involuntary Transfer Repurchase Price. The Company and
         the Involuntary Transferee each shall use his, her or its reasonable
         efforts to expedite all proceedings contemplated hereunder to obtain a
         determination of the Involuntary Transfer Repurchase Price of the
         Restricted Shares at the earliest practicable date.

                  (e) The Fair Market Value of Restricted Shares shall be
determined by the Board of Directors as follows:

                      (i)     if the Common Stock is listed on one or more
         National Securities Exchanges (within the meaning of the Securities
         Exchange Act of 1934, as amended), each share of Common Stock to be
         repurchased shall be valued at the average closing price of a share of
         such class of Common Stock on the principal exchange on which the
         shares are then trading, on the 20 trading days immediately preceding
         such date;

                      (ii)    if the Common Stock is not traded on a National
         Securities Exchange but is quoted on the NASDAQ Stock Market or a
         successor quotation system and the Common Stock is listed as a National
         Market Issue under the NASD National Market System, each share of
         Common Stock to be repurchased shall be valued at the average of the
         last sales price on each of the 20 trading days immediately preceding
         such date as reported by the NASDAQ Stock Market or such successor
         quotation system; or

                      (iii)   if the class of Common Stock is not publicly
         traded on a National Securities Exchange and is not quoted on the
         NASDAQ Stock Market or a successor quotation system, the Fair Market
         Value of the Common Stock to be repurchased shall be determined in good
         faith by the Compensation Committee or the Board of Directors. In the
         event the Management Stockholder disagrees with the valuation
         determined by the Compensation Committee or the Board of Directors, the
         Management Stockholder may choose an independent appraiser to conduct a
         valuation of the Common Stock. The selection of the independent
         appraiser shall be subject to the Company's approval, which approval
         shall not be unreasonably withheld. The fees and expenses of the
         independent appraiser shall be borne equally by the Management
         Stockholder and the Company.

         SECTION 3. BRING-ALONG RIGHTS.

                  (a) If any Carlyle Stockholder at any time, or from time to
time, in one transaction or a series of related transactions, proposes to
Transfer shares of Common Stock to one or more Persons that is not an Affiliate
of the Initial Carlyle Stockholders (a "THIRD PARTY

                                       4
<Page>

PURCHASER"), then the Carlyle Stockholder(s) shall have the right (a
"BRING-ALONG RIGHT"), but not the obligation, to require each Management
Stockholder to tender for purchase to the Third Party Purchaser, on the same
terms and conditions as apply to the selling Carlyle Stockholder(s), a number of
Restricted Shares and Vested Options (including any options that vest as a
result of the consummation of the Transfer to the Third Party Purchaser) that,
in the aggregate, equal the lesser of (A) the number derived by multiplying
(1) the total number of Restricted Shares owned by the Management Stockholder
(including Restricted Shares issuable in respect of all Vested Options held by
the Management Stockholder whether or not exercised and including any options
that vest as a result of the consummation of the Transfer to the Third Party
Purchaser); by (2) a fraction, the numerator of which is the total number of
shares of Common Stock to be sold by the Carlyle Stockholder(s) in connection
with the transaction or series of related transactions and the denominator of
which is the total number of the then outstanding shares of Common Stock held by
all Carlyle Stockholders(s); or (B) the number of shares as the Carlyle
Stockholder(s) shall designate in the Bring-Along Notice (as defined below).

                  (b) If any Carlyle Stockholder elects to exercise its
Bring-Along Right under this Section 3 with respect to the Restricted Shares
held by the Management Stockholders, the Carlyle Stockholder shall notify each
Management Stockholder in writing (collectively, the "BRING-ALONG NOTICES").
Each Bring-Along Notice shall set forth: (i) the name of the Third Party
Purchaser(s) and the number of shares of Common Stock proposed to be sold by the
Carlyle Stockholder to the Third Party Purchaser(s); (ii) the proposed amount
and form of consideration and terms and conditions of payment offered by the
Third Party Purchaser(s) and a summary of any other material terms pertaining to
the Transfer ("THIRD PARTY TERMS"); and (iii) the number of Restricted Shares
and Vested Options that the Carlyle Stockholder elects each Management
Stockholder to sell in the Transfer. The Bring-Along Notices shall be given at
least five (5) days before the closing of the proposed Transfer.

                  (c) Upon the giving of a Bring-Along Notice, each Management
Stockholder shall be obligated to sell the number of Restricted Shares and
Vested Options set forth in each Management Stockholder's Bring-Along Notice on
the Third Party Terms.

                  (d) At the closing of the Transfer to any Third Party
Purchaser(s) pursuant to this Section 3, the Third Party Purchaser(s) shall
remit to the Management Stockholder the consideration for the total sales
price of the Common Stock and Vested Options held by the Management
Stockholder sold pursuant hereto MINUS any consideration to be escrowed or
otherwise held back in accordance with the Third Party Terms, and MINUS the
aggregate exercise price of any Vested Options being Transferred by the
Management Stockholder to the Third Party Purchaser(s), against delivery by
the Management Stockholder of certificates for Common Stock, duly endorsed
for Transfer or with duly executed stock powers and an instrument evidencing
the transfer or the cancellation of the Vested Options subject to the
Bring-Along Right reasonably acceptable to the Company, and the compliance by
the Management Stockholder with any other conditions to closing generally
applicable to the Carlyle Stockholder(s) and all other holders of Common
Stock selling shares in the transaction.

                                       5
<Page>

         SECTION 4. TAG ALONG RIGHTS.

                  (a) In the event that, at any time prior to the date on which
the Company consummates a sale of shares of Common Stock in an initial public
offering of shares of Common Stock registered pursuant to the Securities Act of
1933, as amended, the Carlyle Stockholders propose to Transfer shares of Common
Stock to a Third Party Purchaser, in a single Transfer or a series of related
Transfers constituting a Company Sale (as defined in Section 4(d) below), then
each Management Stockholder shall have the right (the "TAG-ALONG RIGHT") to
require that the proposed Third Party Purchaser purchase from such Management
Stockholder up to the number of whole Restricted Shares equal to the number
derived by multiplying (x) the total number of shares of Common Stock that the
proposed Third Party Purchaser has agreed or committed to purchase, BY (y) a
fraction, the numerator of which is the total number of Restricted Shares (other
than shares issued or issuable upon the exercise of options) owned by the
Management Stockholder, and the denominator of which is the aggregate number of
shares of Common Stock (other than shares issued or issuable upon the exercise
of options) owned by all Carlyle Stockholders, the Management Stockholder and
all other holders of Common Stock who have exercised a Tag-Along Right similar
to the rights granted to the Management Stockholder in this Section 4. (The
intent of this computation is to accord to the Management Stockholder the right
to sell the same percentage of its holdings of Common Stock as the Carlyle
Stockholders are entitled to sell in such a transaction). Any Restricted Shares
purchased from the Management Stockholder pursuant to this Section 4(a) shall be
purchased upon the same terms and conditions as such proposed Transfer by the
selling Carlyle Stockholder(s).

                  (b) The Carlyle Stockholder(s) shall notify each Management
Stockholder in writing in the event such Carlyle Stockholder(s) propose to make
a Transfer or series of Transfers giving rise to the Tag-Along Right at least
seven (7) business days prior to the date on which such Carlyle Stockholder(s)
expect to consummate such Transfer (the "SALE NOTICE") which notice shall
specify the number of shares of Common Stock which the Third Party Purchaser
intends to purchase in such Transfer. The Tag-Along Right may be exercised by
any Management Stockholder by delivery of a written notice to Carlyle proposing
to sell Restricted Shares (the "TAG-ALONG Notice") within five (5) business days
following receipt of the Sale Notice from such Carlyle Stockholder(s). The
Tag-Along Notice shall state the number of Restricted Shares that the Management
Stockholder proposes to include in such Transfer to the proposed Third Party
Purchaser (not to exceed the number as determined above). In the event that the
proposed Third Party Purchaser does not purchase the specified number of
Restricted Shares from the Management Stockholder on the same terms and
conditions as specified in the Sale Notice, then the Carlyle Stockholder(s)
shall not be permitted to sell any shares of Common Stock to the proposed Third
Party Purchaser unless the Carlyle Stockholder(s) purchase from the Management
Stockholder such specified number of Restricted Shares on the same terms and
conditions as specified in such Sale Notice.

                  (c) At the closing of the Transfer to any Third Party
Purchaser pursuant to this Section 4, the Third Party Purchaser shall remit to
each Management Stockholder who exercised his Tag-Along Right the consideration
for the total sales price of the Common Stock held by such Management
Stockholder sold pursuant hereto MINUS any such consideration to be escrowed or
otherwise held back in accordance with the Third Party Terms, against delivery
by such Management Stockholder of certificates for such Common Stock, duly
endorsed for

                                       6
<Page>

Transfer or with duly executed stock powers subject to the Tag-Along Right
reasonably acceptable to the Company, and the compliance by such Management
Stockholder with any other conditions to closing generally applicable to the
Carlyle Stockholder(s) and all other holders of Common Stock selling shares in
such transaction.

                  (d) For the purpose hereof, "COMPANY SALE" shall mean the
consummation of any transaction or series of transactions pursuant to which one
or more persons or entities or group of persons or entities (other than the
Initial Carlyle Stockholders, its affiliates or any transfer as a result of any
liquidation or dissolution of any Carlyle Stockholder) acquires (i) capital
stock of the Company possessing the voting power sufficient to elect a majority
of the members of the Board of Directors of the Company or its successor(s)
(whether such transaction is effected by merger, consolidation,
recapitalization, sale or transfer of the Company's capital stock or otherwise)
or (ii) all or substantially all of the assets of the Company and its
subsidiaries.

         SECTION 5. REPURCHASE DISABILITY

                  (a) Notwithstanding anything to the contrary herein,

                      (i)     the Company shall not be required or permitted to
         purchase any Restricted Shares held by any Management Stockholder or
         Involuntary Transferee upon exercise of the Call Right, Involuntary
         Transfer or a Put Right if the Board of Directors determines that:

                              (A) the purchase of Restricted Shares would impair
                      the Company's or its subsidiaries' ability to meet their
                      obligations in the ordinary course of business taking
                      into account any pending or proposed transactions,
                      capital expenditures or other budgeted cash outlays by
                      the Company, including, without limitation, any proposed
                      acquisition of any other entity by the Company or any of
                      its subsidiaries;

                              (B) the Company is prohibited from purchasing the
                      Restricted Shares by applicable law restricting the
                      purchase by a corporation of its own shares; or

                              (C) the purchase of Restricted Shares would
                      constitute a breach of, default, or event of default
                      under, or is otherwise prohibited by, the terms of any
                      loan agreement or other agreement or instrument to which
                      the Company or any of its subsidiaries is a party (the
                      "FINANCING DOCUMENTS") or the Company is not able to
                      obtain the consent of its senior lender to the purchase of
                      the Restricted Shares.

                     The events described in (A) through (C) above each
constitute a "REPURCHASE Disability."

                      (ii)    In the event of a Repurchase Disability, the
         Company shall notify in writing the Management Stockholder or
         Involuntary Transferee with respect to whom the Call Right, Involuntary
         Transfer or Put Right has been exercised (a "DISABILITY

                                       7
<Page>

         NOTICE"). The Disability Notice shall specify the nature of the
         Repurchase Disability. The Company shall thereafter repurchase the
         Restricted Shares described in the Call Notice, Involuntary Transfer
         Repurchase Notice or Put Notice as soon as reasonably practicable after
         all Repurchase Disabilities cease to exist (or the Company may elect,
         but shall have no obligation, to cause its nominee to repurchase the
         Restricted Shares while any Repurchase Disabilities continue to exist).
         In the event the Company suspends its obligations to repurchase the
         Restricted Shares pursuant to a Repurchase Disability, (A) the Company
         shall provide written notice to each applicable Management Stockholder
         or Involuntary Transferee as soon as practicable after all Repurchase
         Disabilities cease to exist (the "REINSTATEMENT NOTICE"); (B) the Fair
         Market Value of the Restricted Shares subject to the Call Notice,
         Involuntary Transfer Repurchase Notice or Put Notice shall be
         determined as of the date the Reinstatement Notice is delivered to the
         Management Stockholder or Involuntary Transferee, which Fair Market
         Value shall be used to determine the Repurchase Price or Involuntary
         Transfer Repurchase Price in the manner described above; and (C) the
         repurchase shall occur on a date specified by the Company within ten
         (10) days following the determination of the Fair Market Value of the
         Restricted Shares to be repurchased as provided in subsection (B)
         above.

         SECTION 6. COOPERATION.

                  (a) In the event that any Carlyle Stockholder exercises its
rights pursuant to Section 3 or in connection with any Company Sale, each
Management Stockholder shall consent to and raise no objections against the
transaction, and if the transaction is structured as a sale of stock, each
Management Stockholder shall take all actions that the Board of Directors and
the Carlyle Stockholders reasonably deem necessary or desirable in connection
with the consummation of the transaction. Without limiting the generality of the
foregoing, each Management Stockholder agrees to (i) consent to and raise no
objections against the transaction; (ii) execute any Common Stock purchase
agreement, merger agreement or other agreement entered into with the Third Party
Purchaser with respect to the transaction setting forth the Third Party Terms
and any ancillary agreement with respect thereto; (iii) vote the Common Stock
held by the Management Stockholder in favor of the transaction; and (iv) refrain
from the exercise of dissenters' appraisal rights with respect to the
transaction.

                  (b) If the Company or the holders of the Company's securities
enter into any negotiation or transaction for which Rule 506 (or any similar
rule then in effect) promulgated under the Act, may be available with respect to
the negotiation or transaction (including a merger, consolidation, or other
reorganization), each Management Stockholder shall, if requested by the Company,
appoint a purchaser representative (as defined in Rule 501 of the Act)
reasonably acceptable to the Company. If the purchaser representative is
designated by the Company, the Company shall pay the fees of the purchaser
representative, but if any Management Stockholder appoints another purchaser
representative, the Management Stockholder shall be responsible for the fees of
the purchaser representative so appointed.

                  (c) Each Management Stockholder shall bear its pro-rata share
of the costs of any transaction in which it sells Restricted Shares or Vested
Options (based upon the number of Restricted Shares and Vested Options held by
the Management Stockholder that are sold in such

                                       8
<Page>

transaction) to the extent such costs are incurred for the benefit of all
holders of Common Stock and Vested Options and are not otherwise paid by the
Company or the acquiring party.

         SECTION 7. TERMINATION. This Agreement shall terminate on the first to
occur of:

                  (a) The date the Company consummates an underwritten public
offering of at least $50 million of Common Stock by the Company pursuant to an
effective registration statement filed by the Company with the United States
Securities and Exchange Commission (other than on Forms S-4 or S-8 or successors
to such forms) under the Act; or

                  (b) The complete liquidation of the Company or the sale, lease
or other disposition by the Company of all or substantially all of the Company's
assets; or

                  (c) The execution of a resolution of the Board of Directors
terminating the Agreement. Notwithstanding the foregoing, a Stockholder's
Tag-Along Right shall survive a termination of this Agreement pursuant to this
Section 7(c).

         SECTION 8. MISCELLANEOUS.

                  (a) LEGENDS.  Each certificate representing the Restricted
Shares shall bear the following legends:

                  "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
                  REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
                  "ACT"), OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE
                  SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE
                  REGISTRATION STATEMENT UNDER THE ACT AND SAID LAWS OR AN
                  EXEMPTION FROM THE REGISTRATION REQUIREMENTS THEREOF."

                  "THE SECURITIES REPRESENTED HEREBY ARE SUBJECT TO ADDITIONAL
                  RESTRICTIONS ON TRANSFER AND CERTAIN OTHER AGREEMENTS SET
                  FORTH IN A STOCKHOLDERS AGREEMENT BETWEEN THE ISSUER AND THE
                  INITIAL HOLDER HEREOF DATED AS OF [DATE]. A COPY OF SUCH
                  AGREEMENT SHALL BE FURNISHED WITHOUT CHARGE BY THE ISSUER TO
                  THE HOLDER HEREOF UPON WRITTEN REQUEST."

                  (b) SUCCESSORS, ASSIGNS AND TRANSFEREES. This Agreement shall
be binding upon and inure to the benefit of the Parties hereto and their
respective legal representatives, heirs, legatees, successors, and assigns and
any other transferee of the Restricted Shares and shall also apply to any
Restricted Shares acquired by any Management Stockholder after the date hereof.

                  (c) SPECIFIC PERFORMANCE, ETC. Each Party, in addition to
being entitled to exercise all rights provided herein or granted by law,
including recovery of damages, shall be entitled to specific performance of the
Party's rights under this Agreement. Each Party agrees that monetary damages
would not be adequate compensation for any loss incurred by reason of a

                                       9
<Page>

breach by the Party of the provisions of this Agreement and each Party hereby
agrees to waive the defense in any action for specific performance that a remedy
at law would be adequate.

                  (d) GOVERNING LAW. This Agreement shall be governed by and
construed in accordance with the laws of the state of Delaware.

                  (e) INTERPRETATION. The headings of the Sections contained in
this Agreement are solely for the purpose of reference, are not part of the
agreement of the Parties and shall not affect the meaning or interpretation of
this Agreement.

                  (f) NOTICES. All notices and other communications provided for
or permitted hereunder shall be in writing and shall be deemed to have been duly
given and received when delivered by overnight courier or hand delivery, when
sent by telecopy, or five (5) days after mailing if sent by registered or
certified mail (return receipt requested) postage prepaid, to the Parties at the
following addresses (or at such other address for any Party as shall be
specified by like notices, provided that notices of a change of address shall be
effective only upon receipt thereof).

                      (i)     If to the Company at:

                              Rexnord Corporation

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

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

                              --------------------------
                              Attention:

                              with copies to the Carlyle Stockholders at the
                              address listed below and:

                              Latham & Watkins
                              555 Eleventh Street, N.W.
                              Tenth Floor
                              Washington, D.C.  20004
                              Attention: Daniel T. Lennon
                              Facsimile: 202-637-2201

                      (ii)    If to the Carlyle Stockholders at:

                              TC Group, LLC
                              1001 Pennsylvania Avenue, NW
                              Suite 220 South
                              Washington, DC  20004
                              Attention: Jerome H. Powell
                              Facsimile: 202-347-1818

                              with a copy to Latham & Watkins, at the address
                              given above.

                                       10
<Page>

                      (iii)   If to a Management Stockholder, to the address set
forth on the Management Stockholder's signature page hereto.

                  (g) RECAPITALIZATION, EXCHANGE, ETC. AFFECTING THE COMPANY'S
STOCK. The provisions of this Agreement shall apply, to the full extent set
forth herein, with respect to any and all shares of Common Stock and all of the
shares of capital stock of the Company or any successor or assign of the Company
(whether by merger, consolidation, sale of assets, or otherwise) that may be
issued in respect of, in exchange for, or in substitution of such Common Stock
and shall be appropriately adjusted for any stock dividends, splits, reverse
splits, combinations, recapitalizations, and the like occurring after the date
hereof.

                  (h) COUNTERPARTS. This Agreement may be executed in two (2) or
more counterparts, each of which shall be deemed to be an original and all of
which together shall be deemed to constitute one and the same agreement.

                  (i) ATTORNEY'S FEES. In any action or proceeding brought to
enforce any provision of this Agreement, each party shall pay its own attorney's
fees and expenses regardless of whether in the opinion of the court or
arbitrator deciding the action or proceeding there is a prevailing party.

                  (j) SEVERABILITY. In the event that any one or more of the
provisions contained herein, or the application thereof in any circumstances, is
held invalid, illegal, or unenforceable in any respect for any reason, the
validity, legality, and enforceability of any such provision in every other
respect and of the remaining provisions contained herein shall not be in any way
impaired thereby.

                  (k) AMENDMENT. This Agreement may be amended by resolution of
the Board of Directors provided the amendment has been approved by the Initial
Carlyle Stockholders. At any time hereafter, additional Management Stockholders
may be made parties hereto by executing a signature page in the form attached as
Exhibit A hereto, which signature page shall be countersigned by the Company and
shall be attached to this Agreement and become a part hereof without any further
action of any other Party hereto.

                  (l) TAX WITHHOLDING. The Company shall be entitled to require
payment in cash or deduction from other compensation payable to any Management
Stockholder of any sums required by federal, state, or local tax law to be
withheld with respect to the issuance, vesting, exercise, repurchase, or
cancellation of any Restricted Share or any option to purchase Restricted
Shares.

                  (m) NO ADDITIONAL RIGHTS. Nothing contained in this Agreement
(i) obligates the Company or any Affiliate of the Company to employ any
Management Stockholder in any capacity whatsoever; (ii) confers upon any
Management Stockholder the right to continue to serve as a Director,
(iii) prohibits or restricts the Company or any Affiliate of the Company from
terminating the employment, if any, of any Management Stockholder at any time or
for any reason whatsoever, with or without cause; or (iv) restricts in any way
the rights of the stockholders of the Company or any of its subsidiaries, to
remove any Management Stockholder as a Director at any time for any reason
whatsoever. Each Management Stockholder hereby

                                       11
<Page>

acknowledges and agrees that neither the Company nor any other person has made
any representations or promises whatsoever concerning his or her employment or
directorship, or continued employment by the Company or any Affiliate of the
Company.

                  (n) OFFSETS. The Company shall be permitted to offset and
reduce from any amounts payable to a Management Stockholder the amount of any
indebtedness or other obligation or payment owing to the Company by the
Management Stockholder .

                  (o) ENTIRE AGREEMENT. This writing constitutes the entire
agreement of the Parties with respect to the subject matter hereof.

                            [signature pages follow]

                                       12
<Page>

                  IN WITNESS WHEREOF, the undersigned have executed this
Agreement on the date first written above.

                              RBS GLOBAL, INC.

                              By:  /s/ PRAVEEN R. JEYARAJAH
                                   ---------------------------------------
                                   Name:  Praveen R. Jeyarajah
                                   Title: Vice President

                              CARLYLE PARTNERS III, L.P.

                              By:  TC Group III, L.P., its General Partner
                              By:  TC Group III, L.L.C., its General Partner
                              By:  TC Group, L.L.C., its Managing Member
                              By:  TCG Holdings, L.L.C., its Managing Member

                              By:  /s/ PRAVEEN R. JEYARAJAH
                                   ---------------------------------------
                                   Name:  Praveen R. Jeyarajah
                                   Title: Managing Director

                              CP III COINVESTMENT, L.P.

                              By:  TC Group III, L.P., its General Partner
                              By:  TC Group III, L.L.C., its General Partner
                              By:  TC Group, L.L.C., its Managing Member
                              By:  TCG Holdings, L.L.C., its Managing Member

                              By:  /s/ PRAVEEN R. JEYARAJAH
                                   ---------------------------------------
                                   Name:  Praveen R. Jeyarajah
                                   Title: Managing Director

                              CARLYLE HIGH YIELD PARTNERS, L.P.

                              By:  TCG High Yield, L.L.C., its General Partner
                              By:  TCG High Yield Holdings, L.L.C.,
                                   its Managing Member
                              By:  TC Group, L.L.C., its sole Member
                              By:  TCG Holdings, L.L.C., its Managing Member

                              By:  /s/ PRAVEEN R. JEYARAJAH
                                   ---------------------------------------
                                   Name:  Praveen R. Jeyarajah
                                   Title: Managing Director

                  Each Management Stockholder has agreed to be bound by the
terms of this Agreement by execution and deliver of the signature page set
forth as Exhibit A hereto.

<Page>

                                   EXHIBIT A

                                SIGNATURE PAGE
                                      TO
                           STOCKHOLDERS AGREEMENT OF
                               RBS GLOBAL, INC.

                  By execution of this signature page, Michael Andrzejewski
hereby agrees to become a party (as a Management Stockholder) to, be bound by
the obligations of, and receive the benefits of, that certain Stockholders
Agreement of RBS Global, Inc. dated as of November 25, 2002 by and among
Michael Andrzejewski, Carlyle Partners III, L.P., CPIII Coinvestment, L.P.,
Carlyle High Yield Partners, L.P. and certain other parties named therin, as
amended from time to time thereafter.

                                          /s/ MICHAEL ANDRZEJEWSKI
                                          ------------------------------------
                                          Michael Andrzejewski

                                          [Address]

                                          6670 Hillridge Drive
                                          ------------------------------------
                                          Greendale, WI 53129
                                          ------------------------------------

Accepted:

RBS Global, Inc.

By:    /s/ PRAVEEN R. JEYARAJAH
       -------------------------------
Name:
       -------------------------------
Title:
       -------------------------------QuickLinks
 -- Click here to rapidly navigate through this document

Exhibit 10.18(a)  

 
 

YOUNG BROADCASTING INC.
  AMENDED AND RESTATED 1995 STOCK OPTION PLAN
  (as amended as of May 6, 2002)    
  

1.    Purpose of the Plan.  

        The purpose of the Young Broadcasting Inc. 1995 Stock Option Plan (the "Plan") is to promote the interests of Young Broadcasting Inc., a Delaware
corporation (the "Company"), and its stockholders by strengthening the Company's ability to attract and retain competent employees, to make service on the Board of Directors of the Company (the
"Board") more attractive to present and prospective non-employee directors of the Company and to provide a means to encourage stock ownership and proprietary interest in the Company by
officers, non-employee directors and valued employees and other individuals upon whose judgment, initiative and efforts the financial success and growth of the Company largely depend. The
Plan became effective on February 6, 1995, by resolution of the Board, subject to ratification of the Plan by a majority vote of the stockholders of the Company at its 1995 Annual Meeting of
Stockholders. 

2.    Stock Subject to the Plan.  

        (a) The total number of shares of the authorized but unissued or treasury shares of the Common Stock, $.001 par value per share, of the Company ("Common Stock")
for which options and stock appreciation rights ("SARs") may be granted under the Plan shall be 4,550,000 subject to adjustment as provided in Section 14 hereof, which shares may be of any
class of Common Stock; provided, however, that such number of shares may from time to time be reduced to the extent that a corresponding number of issued and outstanding shares of Common Stock are
purchased by the Company and set aside for issue upon the exercise of options. 

        (b)
If an option granted or assumed hereunder shall expire or terminate for any reason without having been exercised in full, the unpurchased shares subject thereto shall again be
available for subsequent option grants under the Plan; provided, however, that shares as to which an option has been surrendered in connection with the exercise of a related SAR will not again be
available for subsequent option or SAR grants under the Plan. 

        (c)
Stock issuable upon exercise of an option or SAR granted under the Plan may be subject to such restrictions on transfer, repurchase rights or other restrictions as shall be
determined by the Board. 

3.    Administration of the Plan.  

        (a) The Plan shall be administered by the Board. No member of the Board shall act upon any matter exclusively affecting an option or SAR granted or to be granted
to himself or herself under the Plan. A majority of the members of the Board shall constitute a quorum, and any action may be taken by a majority of those present and voting at any meeting. The
decision of the Board as to all questions of interpretation and application of the Plan shall be final, binding and conclusive on all persons. The Board may, in its sole discretion, grant options to
purchase shares of Common Stock, grant SARs and issue shares upon exercise of such options and SARs, as provided in the Plan. The Board shall have authority, subject to the express provisions of the
Plan, to construe the respective option and SAR agreements and the Plan, to prescribe, amend and rescind rules and regulations relating to the Plan, to determine the terms and provisions of the
respective option and SAR agreements, which may but need not be identical, and to make all other determinations in the judgment of the Board necessary or desirable for the administration of the Plan.
The Board may correct any defect or supply any omission or reconcile any inconsistency in the Plan or in any option or SAR agreement in the manner and to the extent it shall deem expedient to carry
the Plan into effect and shall be the sole and final judge of such 

 

expediency. No director shall be liable for any action or determination made in good faith. The Board may, in its discretion, delegate its power, duties and responsibilities to a committee,
consisting of two or more members of the Board, all of whom are "Non-Employee Directors" (as hereinafter defined). If a committee is so appointed, all references to the Board herein shall
mean and relate to such committee, unless the context otherwise requires. For the purposes of the Plan, a director or member of such committee shall be deemed to be a "Non-Employee
Director" only if such person qualified as a "Non-Employee Director" within the meaning of paragraph (b)(3)(i) of Rule 16b-3 promulgated under the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), as such term is interpreted from time to time. 

4.    Type of Options.  

        Options granted pursuant to the Plan shall be authorized by action of the Board (or a committee designated by the Board) and may be designated as either incentive
stock options meeting the requirements of Section 422 of the Internal Revenue Code of 1986, as amended (the "Code"), or non-qualified options which are not intended to meet the
requirements of Section 422 of the Code, the designation to be in the sole discretion of the Board. Options designated as incentive stock options that fail to continue to meet the requirements
of Section 422 of the Code shall be redesignated as non-qualified options automatically on the date of such failure to continue to meet the requirements of Section 422 of the
Code without further action by the Board. 

5.    Eligibility.  

        Options designated as incentive stock options may be granted only to officers and key employees of the Company or of any subsidiary corporation (herein called
"subsidiary" or "subsidiaries"), as defined in Section 424 of the Code and the Treasury Regulations promulgated thereunder (the "Regulations"). Directors who are not otherwise employees of the
Company or a subsidiary shall not be eligible to be granted incentive stock options pursuant to the Plan. SARs and options designated as non-qualified options may be granted to
(i) officers and key employees of the Company or of any of its subsidiaries, or (ii) agents and directors of and consultants to the Company, whether or not otherwise employees of the
Company. 

        In
determining the eligibility of an individual to be granted an option or SAR, as well as in determining the number of shares to be optioned to any individual, the Board shall take into
account the recommendation of the Company's Chairman, the position and responsibilities of the individual being considered, the nature and value to the Company or its subsidiaries of his or her
service and accomplishments, his or her present and potential contribution to the success of the Company or its subsidiaries, and such other factors as the Board may deem relevant. 

6.    Restrictions on Incentive Stock Options.  

        Incentive stock options (but not non-qualified options) granted under this Plan shall be subject to the following restrictions: 

        (a)  Limitation on Number of Shares. The aggregate fair market value of the shares of Common Sock with respect to which incentive stock
options are granted, determined as of the date the incentive stock options are granted, exercisable for the first time by an individual during any calendar year shall not exceed $100,000. If an
incentive stock option is granted pursuant to which the aggregate fair market value of shares with respect to which it first becomes exercisable in any calendar year by an individual exceeds such
$100,000 limitation, the portion of such option which is in excess of the $100,000
limitation, and any such options issued subsequently in the same calendar year, shall be treated as a non-qualified option pursuant to Section 422(d)(1) of the Code. In the event
that an individual is eligible to participate in any other stock option plan of the Company or any parent or 

2

 

subsidiary of the Company which is also intended to comply with the provisions of Section 422 of the Code, such $100,000 limitation shall apply to the aggregate number of shares for which
incentive stock options may be granted under this Plan and all such other plans. 

        (b)  Ten Percent (10%) Stockholder. If any employee to whom an incentive stock option is granted pursuant to the provisions of this Plan is
on the date of grant the owner of stock (as determined under Section 424(d) of the Code) possessing more than 10% of the total combined voting power of all classes of stock of the Company or
any parent or subsidiary of the Company, then the following special provisions shall be applicable to the incentive stock options granted to such individual: 

        (i)
The option price per share subject to such incentive stock options shall be not less than 110%, of the fair market value of the stock determined at the time such option was granted.
In determining the fair market value under this clause (i), the provisions of Section 8 hereof shall apply. 

        (ii)
The incentive stock option shall have a term expiring not more than five (5) years from the date of the granting thereof. 

7.    Option Agreement.  

        Each option and SAR shall be evidenced by an agreement (the "Agreement") duly executed on behalf of the Company and by the grantee to whom such option or SAR is
granted, which Agreement shall comply with and be subject to the terms and conditions of the Plan. The Agreement may contain such other terms, provisions and conditions which are not inconsistent with
the Plan as may be determined by the Board, provided that options designated as incentive stock options shall meet all of the conditions for incentive stock options as defined in Section 422 of
the Code. No option or SAR shall be granted within the meaning of the Plan and no purported grant of any option or SAR shall be effective until the Agreement shall have been duly executed on behalf of
the Company and the optionee. More than one option and SAR may be granted to an individual. 

8.    Option Price.  

        (a) The option price or prices of shares of Common Stock for options designated as nonqualified stock options shall be as determined by the Board. 

        (b)
Subject to the conditions set forth in Section 6(b) hereof, the option price or prices of shares of Common Stock for options designated as incentive stock options shall be at
least the fair market value of such Common Stock at the time the option is granted as determined by the Board in accordance with clause (c) below. 

        (c)
If the Common Stock is then listed on any national securities exchange, the fair market value shall be the mean between the high and low sales prices, if any, on the largest such
exchange on the date of the grant of the option or, if none, shall be determined by taking a weighted average of the means between the highest and lowest sales on the nearest date before and the
nearest date after the date of grant in accordance with Regulations Section 25.2512-2. If the Common Stock is not then listed on any such exchange, the fair market value shall be
the mean between the closing "Bid" and the closing "Ask" prices, if any, as reported in the National Association of Securities Dealers Automated Quotation System ("NASDAQ") for the date of the grant
of the option, or, if none, shall be determined by taking a weighted average of the means between the highest and lowest sales on the nearest date before and the nearest date after the date of grant
in accordance with Regulations Section 25.2512-2. If the Common Stock is not then either listed on any such exchange or quoted in NASDAQ, the fair market value shall be the mean
between the average of the "Bid" prices, if any, as reported in the National Daily Quotation Service for the Cite of the grant of the option, or, if none, shall be determined by taking a weighted
average of the means between the highest and lowest sales on 

3

 

the nearest date before and the nearest date after the date of grant in accordance with Regulations Section 25.2512-2. If the fair market value of the Common Stock cannot be
determined under the preceding three sentences, it shall be determined in good faith by the Board in accordance with the Regulations promulgated under Section 422 of the Code. 

9.    Manner of Payment; Manner of Exercise.  

        (a) Options granted under the Plan may provide for the payment of the exercise price by delivery of (i) cash or a check payable to the order of the Company
in an amount equal to the exercise price of such options, (ii) shares of Common Stock owned by the optionee having a fair market value equal in amount to the exercise price of such options, or,
(iii) any combination of (i) and (ii); provided, however, that payment of the exercise price by delivery of shares of Common Stock owned by such optionee may be made only upon the
condition that such payment does not result in a charge to earnings for financial accounting purposes as determined by the Board, unless such condition is waived by the Board. The fair market value of
any shares of Common Stock which may be delivered upon exercise of an option shall be determined by the Board in accordance with Section 8 hereof. 

        (b)
To the extent that the right to purchase shares under an option has accrued and is in effect, options may be exercised in full at one time or in part from time to time, by giving
written notice, signed by the person or persons exercising the option, to the Company, stating the number of shares with respect to which the option is being exercised, accompanied by payment in full
for such shares as provided in subparagraph (a) above. Upon such exercise, delivery of a certificate for paid-up non-assessable shares
shall be made at the principal office of the Company to the person or persons exercising the option at such time, during ordinary business hours, after three (3) days but not more than ninety
(90) days from the date of receipt of the notice by the Company, as shall be designated in such notice, or at such time, place and manner as may be agreed upon by the Company and the person or
persons exercising the option. 

10.    Exercise of Options and SARs.  

        Each option and SAR granted under the Plan shall, subject to Section 11(b) and Section 13 hereof, be exercisable at such time or times and during
such period as shall be set forth in the Agreement; provided, however, that no option or SAR granted under the Plan shall have a term in excess of ten (10) years from the date of grant. To the
extent that an option or SAR is not exercised when it becomes initially exercisable, it shall not expire but shall be carried forward and shall be exercisable, on a cumulative basis, until the
expiration of the exercise period. No partial exercise may be made for less than one hundred (100) full shares of Common Stock. The exercise of an option shall result in the cancellation of the
SAR to which it relates with respect to the same number of shares of Common Stock as to which the option was exercised. 

11.    Term of Options and SARs; Exercisability.  

        (a) Term. 

        (i)
Each option shall expire not more than ten (10) years from the date of the granting thereof except as (a) otherwise provided pursuant to the provisions of
Section 6(b) hereof, and (b) earlier termination as herein provided. 

        (ii)
Except as otherwise provided in this Section 11, an option or SAR granted to any grantee who ceases to perform services for the Company or one of its subsidiaries shall
terminate three months after the date such grantee ceases to perform services, for the Company or one of its subsidiaries, or on the date on which the option or SAR expires by its terms, whichever
occurs first. 

4

 

        (iii)
If the grantee ceases to perform services for the Company because of dismissal for cause or because the grantee is in breach of any employment agreement, such option or SAR will
terminate on the date the grantee ceases to perform services for the Company or one of its subsidiaries. 

        (iv)
If the grantee ceases to perform services for the Company because the grantee has become permanently disabled (within the meaning of Section 22(e)(3) of the Code), such
option or SAR shall terminate twelve months after the date such grantee ceases to perform services for the Company, or on the date on which the option or SAR expires by its terms, whichever occurs
first. 

        (v)
In the event of the death of any grantee, any option or SAR granted to such grantee shall terminate twelve months after the date of death, or on the date on which the option or SAR
expires by its terms, whichever occurs first. 

        (vi)
Notwithstanding the provisions of subsections (i)—(v) of this Section 11(a), or any other provision of the Plan, the Board, in its sole discretion, may in
the Agreement or at any other time (x) permit any option to continue in effect in accordance with the terms of the Agreement and this Plan after the grantee ceases to perform services for the
Company, (y) extend the period of time within which such option may be exercised after the grantee ceases to perform services for the Company beyond the time period set forth in subsection
(ii), (iii), (iv) or (v) of this Section 11(a), as applicable, and/or (z) accelerate the vesting and exercisability of any option that is not vested or otherwise
exercisable under the terms of the Agreement or this Plan at or prior to the time the grantee ceases to perform services for the Company. 

        (b)
Exercisability. 

        (i)
Except as provided below, an option or SAR granted to a grantee who ceases to perform services for the Company or one of its subsidiaries shall be exercisable only to the extent that
such option or SAR has accrued and is in effect on the date such grantee ceases to perform services for the Company or one of its subsidiaries. 

        (ii)
An option or SAR granted to a grantee who ceases to perform services for the Company or one of its subsidiaries because he or she has become permanently disabled (as defined above)
shall be exercisable with respect to the full number of shares covered thereby, whether or not under the provisions of Section 10 hereof the grantee was entitled to do so at the date he or she
became permanently disabled, and may be exercised by a legal representative on behalf of the grantee. 

        (iii)
In the event of the death of any grantee, the option or SAR granted to such grantee may be exercised with respect to the full number of shares covered thereby, whether or not under
the provisions of Section 10 hereof the grantee was entitled to do so at the date of his or her death, by the estate of such grantee, or by any person or persons who acquired the right to
exercise such option or SAR by bequest or inheritance or by reason of the death of such grantee. 

        (iv)
Notwithstanding the provisions of subsections (i)—(iii) of this Section 11(b), or any other provision of the Plan, the Board, in its sole discretion, may
in the Agreement or at any other time (x) permit any option to continue in effect in accordance with the terms of the Agreement and this Plan after the grantee ceases to perform services for
the Company, (y) extend the period of time within which such option may be exercised after the grantee ceases to perform services for the Company, and/or (z) accelerate the vesting and
exercisability of any option that is not vested or otherwise exercisable under the terms of the Agreement or this Plan at or prior to the time the grantee ceases to perform services for the Company. 

5

 

12.    Options Not Transferable.  

        The right of any grantee to exercise any option or SAR granted to him or her shall not be assignable or transferable by such grantee other than by will or the
laws of descent, and any such option or SAR shall be exercisable during the lifetime of such grantee only by him; provided, that the Board may permit a
grantee, by expressly so providing in the related Agreement, to assign or transfer, without consideration (and only without consideration), the right to exercise any option or SAR granted to him or
her to his or her children, grandchildren or spouse, to trusts for the benefit of such family members and to partnerships in which such family members are the only partners. Any option or SAR granted
under the Plan shall be null and void and without effect upon the bankruptcy of the grantee to whom the option is granted, or upon any attempted assignment or transfer except as herein provided,
including without limitation, any purported assignment, whether voluntary or by operation of law, pledge, hypothecation or other disposition, attachment, trustee process or similar process, whether
legal or equitable, upon such option or SAR. 

13.    Terms and Conditions of SARs.  

        (a) An SAR may be granted separately or in connection with an option (either at the time of grant or at any time during the term of the option). 

        (b)
The exercise of an SAR granted in connection with an option shall result in the cancellation of the option to which it relates with respect to the same number of shares of Common
Stock as to which the SAR was exercised. 

        (c)
An SAR granted in connection with an option shall be exercisable or transferable only to the extent that such related option is exercisable or transferable. 

        (d)
Upon the exercise of an SAR related to an option, the holder will be entitled to receive payment of an amount determined by multiplying: 

        (i)
the difference obtained by subtracting the purchase price of a share of Common Stock specified in the related option from the fair market value of a share of Common Stock on the date
of exercise of such SAR (as determined by the Board in accordance with Section 8 hereof), by 

        (ii)
the number of shares as to which such SAR is exercised. 

        (e)
An SAR granted without relationship to an option shall be exercisable as determined by the Board, but in no event after ten years from the date of grant. 

        (f)
An SAR granted without relationship to an option will entitle the holder, upon exercise of the SAR, to receive payment of an amount determined by multiplying: 

        (i)
the difference obtained by subtracting the fair market value of a share of Common Stock on the date the SAR was granted from the fair market value of a share of Common Stock on the
date of exercise of such SAR (as determined by the Board in accordance with Section 8 hereof), by 

        (ii)
the number of shares as to which such SAR is exercised. 

        (g)
Notwithstanding subsections (d) and (f) above, the Board may limit the amount payable upon exercise of an SAR. Any such limitation shall be determined as of the date of
grant and noted on the instrument evidencing the SAR granted. 

        (h)
At the discretion of the Board, payment of the amount determined under subsections (d) and (f) above may be made either in whole shares of Common Stock valued at their
fair market value on the date of exercise of the SAR (as determined by the Board in accordance with Section 8 hereof), or solely in cash, or in a combination of cash and shares. If the Board
decides to make full payment in 

6

 

shares of Common Stock and the amount payable results in a fractional share, payment for the fractional share shall be made in cash. 

        (i)
Neither an SAR nor an option granted in connection with an SAR granted to a person subject to Section 16(b) of the Exchange Act may be exercised before six months after the
date of grant. 

14.    Recapitalization, Reorganization and the Like.  

        In the event that the outstanding shares of Common Stock are changed into or exchanged for a different number or kind of shares or other securities of the Company
or of another corporation by reason of any reorganization, merger, consolidation, recapitalization, reclassification, stock split-up, combination of shares, or dividends payable in capital
stock, appropriate adjustment shall be made in accordance with Section 424(a) of the Code in the number and kind of shares as to which options and SARs may be granted under the Plan and as to
which outstanding options and SARs or portions thereof then unexercised shall be exercisable, to the end that the proportionate interest of the grantee shall be maintained as before the occurrence of
such event; such adjustment in outstanding options and SARs shall be made without change in the total price applicable to the unexercised portion of such options and SARs and with a corresponding
adjustment in the exercise price per share. 

        In
addition, unless otherwise determined by the Board in its sole discretion, in the case of any (i) sale or conveyance to another entity of all or substantially all of the
property and assets of the Company or (ii) Change in Control (as hereinafter defined) of the Company, the purchaser(s) of the Company's assets or stock may, in his, her or its discretion,
deliver to the optionee the same kind of consideration that is delivered to the stockholders of the Company as a result of such sale, conveyance or Change in Control, or the Bond may cancel all
outstanding options and SARs in exchange for consideration in cash or in kind which consideration in both cases shall be equal in value to the value of those shares of stock or other securities the
optionee would have received had the option been exercised (to the extent then exercisable) and no disposition of the shares acquired upon such exercise been made prior to such sale, conveyance or
Change in Control, less the exercise price therefor. Upon receipt of such consideration, the options and SARs shall immediately terminate and be of no further force and effect. The value of the stock
or other securities the grantee would have received if the option had been exercised shall be determined in good faith by the Board, and in the case of shares of Common Stock, in accordance with the
provisions of Section 8 hereof. 

        The
Board shall also have the power and right to accelerate the exercisability of any options or SARs, notwithstanding any limitations in this Plan or in the Agreement upon such a sale,
conveyance or Change in Control. Upon such acceleration, any options or portion thereof originally designated as incentive stock options that no longer qualify as incentive stock options under
Section 422 of the Code as a result of such acceleration shall be redesignated as non-qualified stock options. 

        A
"Change in Control" shall be deemed to have occurred if any person, or any two or more persons acting as a group, and all affiliates of such person or persons, who prior to such time
owned less than fifty percent (50%) of the then outstanding Common Stock shall acquire such additional shares of Common Stock in one or more transactions, or series of transactions, such that
following such transaction or transactions, such person or group and affiliates beneficially own fifty percent (50%) or more of the Common Stock outstanding. 

        If
by reason of a corporate merger, consolidation, acquisition of property or stock, separation, reorganization, or liquidation, the Board shall authorize the issuance or assumption of a
stock option or stock options in a transaction to which Section 424(a) of the Code applies, then, notwithstanding any other provision of the Plan, the Board may grant an option or options upon
such terms and conditions as it may deem appropriate for the purpose of assumption of the old option, or substitution of a new option for the old option, in conformity with the provisions of such
Section 424(a) of the Code and the 

7

 

Regulations thereunder, and any such option shall not reduce the number of shares otherwise available for issuance under the Plan. 

        No
fraction of a share shall be purchasable or deliverable upon the exercise of any option or SAR, but in the event any adjustment hereunder in the number of shares covered by the option
or SAR shall cause such number to include a fraction of a share, such fraction shall be adjusted to the nearest smaller whole number of shares. 

15.    No Special Employment Rights.  

        Nothing contained in the Plan or in any option or SAR granted under the Plan shall confer upon any grantee any right with respect to the continuation of his or
her employment by the Company (or any subsidiary) or interfere in any way with the right of the Company (or any subsidiary), subject to the terms of any separate employment agreement to the contrary,
at any time to terminate such employment or to increase or decrease the compensation of the grantee from the rate in existence at the time of the grant of an option or SAR. Whether an authorized leave
of absence, or absence in military or government service, shall constitute termination of employment shall be determined in accordance with Regulations Section 1.421-7(h)(2). 

16.    Withholding.  

        The Company's obligation to deliver shares upon the exercise of any non-qualified option or SAR granted under the Plan shall be subject to the option
holder's satisfaction of all applicable Federal, state and local income and employment tax withholding requirements. The Company and optionee may agree to withhold shares of Common Stock purchased
upon exercise of an option or SAR to satisfy the abovementioned withholding requirements; provided, however, that no such agreement may be made by a grantee who is an "officer" or "director" within
the meaning of Section 16 of the Exchange Act, except pursuant to a standing election to so withhold shares of Common Stock purchased upon exercise of an option, such election to be made not
less than six months prior to such exercise and which election may be revoked only upon six months prior written notice. 

17.    Restrictions on Issuance of Shares.  

        (a) Notwithstanding the provisions of Section 9 hereof, the Company may delay the issuance of shares covered by the exercise of an option or SAR and the
delivery of a certificate for such shares until one of the following conditions shall be satisfied: 

        (i)
The shares with respect to which such option or SAR has been exercised are at the tine of the issue of such shares effectively registered or qualified under applicable Federal and
state securities acts now in force or as hereafter amended; or 

        (ii)
Counsel for the Company shall have given an opinion, which opinion shall not be unreasonably conditioned or withheld, that such shares are exempt from registration and qualification
under applicable Federal and state securities acts now in force or as hereafter amended. 

        (b)
It is intended that all exercises of options and SARs shall be effective, and the Company shall use its best efforts to bring about compliance with the above conditions, within a
reasonable time, except that the Company shall be under no obligation to qualify shares or to cause a registration statement or a post-effective amendment to any registration statement to
be prepared for the purpose of covering the issue of shares in respect of which any option may be exercised, except as otherwise agreed to by the Company in writing. 

8

 

18.    Purchase for Investment; Rights of Holder on Subsequent Registration.  

        Unless the shares to be issued upon exercise of an option or SAR granted under the Plan have been effectively registered under the Securities Act of 1933, as
amended (the "1933 Act"), the Company shall be under no obligation to issue any shares covered by any option or SAR unless the person who exercises such option, in whole or in part, shall give a
written representation and undertaking to the Company which is satisfactory in form and scope to counsel for the Company and upon which, in the opinion of such counsel, the Company may reasonably
rely, that he or she is acquiring the shares issued pursuant to such exercise of the option or SAR for his or her own account as an investment and not with a view to, or for sale in connection with,
the distribution of any such shares, and that he or she will make no transfer of the same except in compliance with any rules and regulations in force at the time of such transfer under the 1933 Act,
or any other applicable law, and that if shares are issued without such registration, a legend to this effect may be endorsed upon the securities so issued. 

        In
the event that the Company shall, nevertheless, deem it necessary or desirable to register under the 1933 Act or other applicable statutes any shares with respect to which an option
or SAR shall have been exercised, or to qualify any such shares for exemption from the 1933 Act or other applicable statutes, then the Company may take such action and may require from each grantee
such information in writing for use in any registration statement, supplementary registration statement, prospectus, preliminary prospectus or offering circular as is reasonably necessary for such
purpose and may require reasonable indemnity to the Company and its officers and directors from such holder against all losses, claims, damages and liabilities arising from such use of the information
so furnished and caused by any untrue statement of any material fact therein or caused by the omission to state a material fact required to be stated therein or necessary to make the statements
therein not misleading in the light of the circumstances under which they were made. 

19.    Loans.  

        At the discretion of the Board, the Company may loan to the optionee some or all of the purchase price of the shares acquired upon exercise of an option granted
under the Plan. 

20.    Modification of Outstanding Options and SARs.  

        Subject to limitations contained herein, the Board may authorize the amendment of any outstanding option or SAR with the consent of the grantee when and subject
to such conditions as are deemed to be in the best interests of the Company and in accordance with the purposes of the Plan. 

21.    Approval of Stockholders.  

        The Plan shall be subject to approval by a majority vote of the stockholders of the Company voting in person or by proxy at the Company's 1995 Annual Meeting of
Stockholders. The Plan became effective on February 7, 1995 by resolution of the Board. The Board may grant options and SARs under the Plan prior to such stockholder approval, but any such
option shall become effective as of the date of grant only upon such approval and, accordingly, no such option may be exercisable prior to such approval. 

22.    Termination and Amendment of Plan.  

        Unless sooner terminated as herein provided, the Plan shall terminate on February 6, 2005. The Board may at any time terminate the Plan or make such
modification or amendment thereof as it deems advisable; provided, however, that (i) the Board may not, without approval by a majority vote of the stockholders of the Company, increase the
maximum number of shares for which options and SARs may be granted or change the designation of the class of persons eligible to receive options and SARs 

9

 

under the Plan, and (ii) any such modification or amendment of the Plan shall be approved by a majority vote of the stockholders of the Company to the extent that such stockholder approval is
necessary to comply with applicable provisions of the Code, rules promulgated pursuant to Section 16 of the Exchange Act, applicable state law, or applicable National Association of Securities
Dealers, Inc. or exchange listing requirements. Termination or any modification or amendment of the Plan shall not, without the consent of an optionee, affect his or her rights under an option
or SAR theretofore granted to him or her. 

23.    Limitation of Rights in the Underlying Shares.  

        A holder of an option or SAR shall not be deemed for any purpose to be a stockholder of the Company with respect to such option or SAR except to the extent that
such option or SAR shall have been exercised with respect thereto and, in addition, a stock certificate shall have been issued theretofore and delivered to the holder. 

24.    Notices.  

        Any communication or notice required or permitted to be given under the Plan shall be in writing, and mailed by registered or certified mail or delivered by hand,
if to the Company, to its principal place of business, attention: Chairman, and, if to the holder of an option or SAR, to the address as appearing on the records of the Company. 

10

QuickLinks

YOUNG BROADCASTING INC. AMENDED AND RESTATED 1995 STOCK OPTION PLAN (as amended as of May 6, 2002)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00048-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00048-of-00352.parquet"}]]