Document:

Exhibit 10.50

 

EMPLOYMENT AGREEMENT

 

                This
Employment Agreement (the “Agreement”) is entered into as of January 27, 2003,
by and among METRON TECHNOLOGY N.V., a limited liability company organized
under the laws of the Netherlands (“MTNV”), METRON TECHNOLOGY DISTRIBUTION
CORPORATION, a California corporation (“Employer”), and DOUGLAS J.
McCUTCHEON (“Executive”), a California resident.

 

RECITALS

 

Executive currently is
employed as Employer’s Interim Chief Financial Officer in the classification of
a temporary full-time employee;

 

Employer desires to employ
Executive as a regular full-time employee on the terms and conditions set forth
herein;

 

                Executive
desires to accept such regular full-time employment with Employer pursuant to
the terms and conditions of this Agreement; and

 

                MTNV
intends to confirm the appointment of Executive as a Managing Director A;

 

                NOW,
THEREFORE, in consideration of the mutual convenants and agreements
contained herein, the parties hereto agree as follows:

 

1.                                      EFFECTIVE TIME; EMPLOYMENT AND
SERVICE

 

1.1          Effective
Time.  This Agreement is to be
effective as of January 27, 2003 (the “Effective Time”) and shall continue in
effect until Executive’s employment terminates pursuant to the provisions of
Section 3 herein.

 

1.2           Employment
with Employer.  Employer
agrees that, as of the Effective Time, it will employ Executive as its Senior Vice
President and Chief Financial Officer or in such other capacity as
determined by Employer’s Officers to whom the Executive reports or Employer’s
Supervisory Board of Directors, as a regular full-time employee.  MTNV agrees that it has elected Executive as
a member of the Board of Directors of Employer.

 

1.3          Appointment
with MTNV.  In view of
Executive’s employment with Employer, and his intended appointment as a Class A
(or similar description) Managing Director by resolution of the General Meeting
of Shareholders of MTNV, the parties now wish to confirm the terms and
conditions of his service as a Managing Director as provided herein.  The term of Executive’s appointment as a
Managing Director of MTNV shall be determined by the General Meeting of
Shareholders of MTNV.  To the extent
permitted under Dutch corporate law, as Managing Director of MTNV, Executive
shall perform such duties and responsibilities as may be determined from time
to time by MTNV’s General Meeting of Shareholders or MTNV’s Supervisory Board
(the “MTNV Supervisory Board”), as the case may be.

 

1.4                          Executive’s
Responsibilities for Employer.  During the term of this Agreement, Executive shall have such
responsibilities as may be assigned to him by Employer’s Officers to whom the
Executive reports, or Employer’s Supervisory or Managing Board of
Directors.  Executive’s duties shall be
performed at Employer’s Burlingame, California office or at such other location
as Employer and Executive mutually agree; provided, however, that, in the
performance of his duties, Executive shall be 

 

 

required to travel at such
times and to such places as Employer or MTNV may reasonably request from time to
time.

 

1.5           Exclusive
Services.  Executive
agrees to devote his full time, attention and energy to performing his duties
and responsibilities to Employer and MTNV. 
Executive further agrees that he will not engage in any business
activity in competition with Employer or MTNV nor make preparations to do so,
and agrees not to engage in any outside employment or consulting, other than as
already disclosed to Employer in writing, without written authorization from
MTNV’s Supervisory Board.  The
foregoing, however, shall not preclude Executive from engaging in the following
activities, provided that they do not unreasonably interfere or conflict with
Executive’s responsibilities to Employer and MTNV:  (1) engaging in appropriate civic, charitable or religious activities;
(2) devoting a reasonable amount of time to private investments; (3) serving on
the boards of directors of nonprofit entities; or (4) serving on the Board of
Directors of a for-profit entity with the prior written consent of Employer’s
Chief Executive Officer (“CEO”).

 

2.                                      COMPENSATION, BENEFITS AND
PERQUISITES

 

2.1  Base Salary.  During the period this Agreement is in
effect, Employer shall pay Executive an annual base salary of $225,000
less standard deductions and withholdings. 
MTNV, acting through the MTNV Supervisory Board or its Compensation
Committee, as the case may be, shall review Executive’s base salary at least
annually and may in its sole discretion increase (but not decrease, unless such
decrease is done on an equitable pro-rata basis for all of Employer’s
executives, including its CEO) such salary to reflect performance, appropriate
industry data and other factors. 
Employer and MTNV shall not be obligated to provide any such salary
increases, except that, if the
salaries of all Directors of the Managing Board is increased due to Employer’s
return to profitability and to compensate for the previous salary decrease of
ten percent (10%), Executive will be eligible for such one-time salary increase
at the same time and by the same percentage as the other Directors of the
Managing Board.  Salary levels generally
are reviewed on or about March 1 of each calendar year.  Executive will not be eligible for consideration
of a salary increase during a general salary review cycle, should such review
cycle occur within six (6) months following the Effective Time.

 

2.2             Bonuses.

 

(a)         Executive shall
be entitled to participate in the annual incentive compensation plans for
MTNV’s senior management pursuant to the terms of these plans.  Generally, any such compensation shall be
paid out of a pool funded by a percentage of the annual pretax income of MTNV
calculated before income taxes and performance incentive compensation.  MTNV shall have the sole discretion to
change or eliminate its annual incentive compensation plans, to determine the
amount placed into the pool, to determine whether Executive is entitled to any
compensation under these plans, and to determine the amount of any such
compensation.

 

(b)         In addition,
any compensation pursuant to Section 2.2(a) shall be considered earned as of
the last day of Employer’s fiscal year provided that Executive has remained
employed on a full-time basis by Employer through that date.  Notwithstanding the foregoing, if Executive
is terminated without Cause (as defined in Section 3.4(a) herein), or resigns
for Good Reason (as defined in Section 3.4(b) herein) during the term of this
Agreement, for the fiscal year in which his employment terminates, Employer
shall pay Executive the bonus to which he would otherwise have been entitled
had he been employed as of the last day of such fiscal year multiplied by a
fraction, the numerator of which is the number of days elapsed in the fiscal
year up to and including the date of his termination of employment, and the denominator
of which is 365.

 

(c)         In the event of
Executive’s death or Disability (as such term is defined in Section 3.4(c)
herein) during the term of this Agreement, for the fiscal year in which his
death or Disability occurs, Employer 

 

 

 

shall pay Executive’s estate
(in the event of Executive’s death) or the Executive (in case of his
Disability) the bonus to which he would otherwise have been entitled had he
been employed as of the last day of such fiscal year multiplied by a fraction,
the numerator of which is the number of days elapsed in the fiscal year up to
and including the date of his death, or, in the case of Disability, the last
day of active employment, and the denominator of which is 365.

 

(d)         If Executive is
awarded any such compensation, it will be paid in one lump sum as soon as
practicable after the annual audit of Employer’s financial statements are
complete and Employer has completed the necessary calculations of the amounts,
if any, which are due.  Any such
compensation shall be subject to standard withholdings.

 

2.3  Stock Option Grants.  Employer agrees to recommend to the Stock
Option Committee that Executive be granted a non-qualified stock option to
purchase one hundred thousand (100,000) shares of MTNV’s common stock.  In addition, Employer agrees to recommend to
the Stock Option Committee that Executive be granted a stock option in June
2003 to purchase an additional fifty thousand (50,000) shares of MTNV’s common
stock.  If granted, the June 2003 option
grant will qualify as incentive stock options (“ISOs”) to the extent ISO grants
are available, subject to applicable legal limitations.  Any granted options will be governed by the
terms of the applicable stock option plan and stock option agreements, which
stock option agreements will specify a per share purchase price equal to the
closing market price of the stock on the business day prior to grant and a
four-year vesting period contingent upon Executive’s continuous service to
Employer.

 

2.4  Vacations.  Executive shall accrue three
weeks of annual vacation with full pay in accordance with the policies
applicable to executive employees of Employer who are located in the United
States.  Executive may accrue up to a
maximum of 30 days vacation, at which point further accrual stops until accrued
vacation is used, unless otherwise agreed to in writing between Executive and
Employer.

 

2.5  Employee
Benefits.  Executive
shall be entitled to participate in Employer’s benefits and perquisites in
accordance with Employer’s policies and the terms, conditions and limitations
of Employer’s benefit plans which it now or in the future makes generally
available to all of its executives. 
Executive shall pay any contributions which are generally required of
its executives to receive any such benefits. 
Such perquisites may include, but are not necessarily limited to, use of
and reimbursement for cellular/car phone, professional organizational dues and
professional developmental seminars.  It
is anticipated that the MTNV Supervisory Board will annually review Executive’s
benefits package and may, in its discretion, increase (but not decrease unless
such decrease is done on an equitable pro rata basis for Employer’s executives
including its CEO) such perquisites.

 

2.6  Expenses.  During the term of his employment
hereunder, Executive shall be entitled to receive prompt reimbursement from
Employer or MTNV (in accordance with their policies and procedures for
executive employees and on submission of written documentation of such expenses
suitable to Employer or MTNV) for all reasonable travel and other expenses
incurred by Executive in connection with his services hereunder.

 

 

2.7. Indemnification.

 

                (a)           Except to the extent modified below
in Section 2.7(b), Employer, with regard to Executive’s performance of services
on behalf of Employer as an employee, officer, director, or agent, and MTNV as
an employee, officer, director, or agent, with regard to Executive’s
performance of services on behalf of MTNV, agree, to the extent authorized or
permitted by MTNV’s charter documents and applicable law, to fully indemnify
Executive and to hold him harmless from and against all claims, damages,
judgments, losses, liabilities, fees and expenses incurred by him or threatened
against him in connection with his performance of services hereunder and to
make advances to him for the payment of legal fees, witness fees, expenses and
costs related thereto.  MTNV and
Employer also agree to pay any damages, judgments, fines and amounts paid in
settlement and any other amounts that Executive becomes legally obligated to
pay because of any claim or claims made against or by Executive in connection
with any threatened, pending or completed action, suit or proceeding to which
Employee is entitled to indemnification pursuant to the terms of this Section
2.7(a), provided, however, Employee shall not settle any such proceeding
without the express written consent of the Supervisory Board of MTNV.  MTNV and Employer agree to use their best
efforts to include Executive in the coverage of any errors and omissions and/or
directors and officers insurance policies, if any, obtained by MTNV or Employer
for officers and directors of MTNV and Employer, respectively.

 

                (b)           The indemnification provisions of
Section 2.7(a) shall not apply with respect to the obligations of MTNV or
Employer to indemnify Executive in the following events:

 

•                  To the extent that Executive
is indemnified pursuant to any insurance purchased and maintained by or on
behalf of MTNV and/or Employer pursuant to the provisions of Section 2.7(a) of
this Agreement and any resulting obligations are actually paid on behalf of or
reimbursed to Executive pursuant to such insurance;

 

•                  On account of Executive’s
acts or omissions that involve intentional misconduct or would constitute Cause
under Section 3.4(a) herein;

 

•                  On account of violations of
the provisions of Section 4 of this Agreement;

 

•                  On account of acts or
omissions of Executive that Executive believed or reasonably should have known
at the time of the act or omission to be contrary to the best interests of MTNV
and Employer or its shareholders or that involve the absence of good faith on
the part of Executive;

 

•                  With respect to any
transaction from which Executive derived an improper personal benefit;

 

•                  On account of acts or
omissions that show a reckless disregard by Executive for his duties to MTNV or
Employer or their shareholders in circumstances in which Executive was aware,
or should have been aware, in the ordinary course of performing an officer’s
duties, of a risk of serious injury to MTNV, Employer or their shareholders;

 

•                  On account of acts or
omissions that constitute an unexcused pattern of inattention that amounts to
an abdication of Executive’s duties to MTNV, Employer or their shareholders;

 

•                  On account of acts or
omissions that constitute a violation of Section 16 of the Securities and
Exchange Act of 1934; or

•                  If indemnification is
unlawful.

 

(c)           Continuation
of Indemnity.  MTNV’s and
Employer’s indemnity obligations contained herein shall continue during the
period Employee is a director, officer, employee or other agent of MTNV 

 

 

 

or the Employer, respectively (or is or was
serving at the request of MTNV or the Employer, respectively (or is or was
serving at the request of MTNV or Employer as a director, officer, employee or
other agent of another corporation, partnership, joint venture, trust, employee
benefit plan or other enterprise)) and shall survive the termination of
Executive’s employment with Employer and continue thereafter so long as Executive
shall be subject to any possible claim or threatened, pending or completed
action, suit or proceeding, by reason of the fact that Executive was serving in
the capacity referred to herein and to the extent he would otherwise be
entitled to indemnification pursuant to Section 2.7(a).

 

(d)           Expenses.  Upon request, MTNV or Employer may advance,
prior to the final disposition of any proceeding covered by this Section 2.7
(excluding any proceedings instituted by Executive or Employer under Sections
5.9 and 5.10 herein), such advance not to be unreasonably withheld or delayed,
all reasonable expenses incurred by Executive in connection with such
proceeding upon receipt of an undertaking by or on behalf of Executive to repay
said amounts if it shall be determined ultimately that Executive is not
entitled to be indemnified under the provisions of this Agreement, applicable
law, MTNV’s Articles of Association or Employer’s Charter Documents, or
otherwise.

 

3.             TERMINATION
OF EXECUTIVE’S EMPLOYMENT

 

3.1          Termination
of Employment.  Executive’s
employment by Employer under this Agreement is at-will and may be terminated by
Employer or Executive at any time, with or without Cause.  Executive’s appointment as a Managing
Director of MTNV may be terminated by the General Meeting of Shareholders of
MTNV as permitted by the Articles of Association of MTNV and Netherlands
law.  Executive agrees to give ninety
(90) days’ written notice if he intends to resign without Good Reason.

 

3.2          Severance
Benefits Upon Termination By Employer Without Cause, Upon Resignation By
Executive for Good Reason or Disability.  If this Agreement is:  (1)
terminated by Employer without Cause; or (2) terminated by the Executive for
Good Reason; or (3) terminated by Employer as a result of Executive’s Disability;
and if Executive first provides the Company with a signed and effective general
release of all known and unknown claims, a form of which is set forth in
Exhibit A (or in any other form required by Employer or MTNV), Employer shall
provide Executive with the following severance benefits only:

 

                (a)           Continuation of Executive’s final
base salary for a period of twelve (12) months after Executive’s termination
date.  These payments will be made on
the Company’s standard payroll dates and will be subject to required deductions
and withholdings.  To the extent, if
any, Executive receives disability insurance benefits during this salary
continuation period, Executive agrees to tender such payments to Employer;

 

                (b)           To the extent permitted by
federal COBRA law and by Employer’s current group health insurance policies,
Executive will be eligible to continue his health insurance benefits after his
employment terminates.  Provided that
Executive timely elects continued coverage under COBRA, Employer will pay the
cost of continuing such benefits for a period of twelve (12) months after
Executive’s termination date.  Should
Executive become eligible for such health care benefits through another
employer, any such payments under this provision shall immediately cease.  Executive agrees to notify Employer
immediately if he becomes eligible for such benefits; and

 

                (c)           Executive also shall be entitled to
receive the pro-rata bonus as specified in Sections 2.2(b) and 2.2(c) herein,
as applicable.

 

3.3          No
Severance Benefits If Terminated By Employer For Cause, Upon Resignation By
Employee Without Good Reason, Or Upon Death.  If Executive’s employment is terminated for Cause by Employer, or
if Executive resigns without Good Reason, or if this Agreement is terminated by
Executive’s death, Executive shall not be entitled to receive any severance
benefits whatsoever, provided, 

 

 

however, that in the event of Employee’s
death, his estate shall be entitled to the pro-rata bonus as specified in
Section 2.2(c) herein.

 

3.4       Definitions.

 

(a)           Definition
of “Cause.”  For
purposes of this Section 3, “Cause” shall mean the following:  (i) Indictment or conviction of, or a plea
of nolo contendere to, any felony or any misdemeanor involving moral turpitude;
(ii) commission of an act of fraud, theft or embezzlement of property of MTNV
or any of its subsidiaries or commission of similar acts involving dishonesty
or moral turpitude that are materially injurious to MTNV or any of its
subsidiaries; (iii) Executive’s failure to devote substantially all of his
working time and efforts during normal business hours to the business of MTNV
and its subsidiaries except as otherwise permitted by this Agreement, or
Executive’s failure to comply with the covenants contained in Sections 4.1 or
4.2 of this Agreement; (iv) knowingly providing materially misleading
information concerning MTNV or any of its subsidiaries to MTNV, the MTNV
Managing Board or Supervisory Board, its General Meeting of Shareholders, any
shareholder holding 10% or more of MTNV stock, any governmental body or
regulatory agency or to any lender or other financing source or proposed
financing source of MTNV or its subsidiaries; or (v) any other failure by
Executive to substantially perform his material duties as an employee of Employer
under this Agreement or as a Managing Director of MTNV (excluding
nonperformance resulting from Executive’s Disability) which failure is not
cured within thirty (30) days after written notice from the MTNV Supervisory or
Managing Board, in the case of Executive’s duties to MTNV, or from the
Employer, in the case of Executive’s duties to Employer, specifying the act(s)
of nonperformance or within such longer period (but no longer than sixty (60)
days in any event) as is reasonably required to cure such nonperformance.

 

                (b)           Definition
of “Good Reason.”  “Good Reason” shall mean:  (i) a
material change in the responsibilities, authority, title or office of
Executive resulting in the substantial diminution of his position; (ii) except
for decreases made on an equitable pro rata basis for Employer’s executives
located in the United States, a diminution in Employee’s annual base salary
below the amount stated in Section 2.1 or as same may be increased from time to
time; (iii) except for changes made on an equitable pro rata basis for
Employer’s executives located in the United States, the failure by Employer to
continue to provide Executive with benefits substantially similar to those
enjoyed by executives of Employer located in the United States; (iv) Employer’s
requiring of Executive to be based anywhere other than a location which is
within a 75-mile radius of the Company’s existing office in Burlingame,
California; or (v) any other material breach by Employer of this Agreement;
excluding for all of these purposes an isolated, insubstantial or inadvertent
action not taken in bad faith which is remedied by Employer promptly after
notice thereof is given by Executive.

 

(c)         Definition of “Disability.”  “Disability” shall have the same meaning
provided in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended,
except for that section’s reference to “12 months,” which time period shall
instead be ninety (90) days.

 

3.5          Merger,
Transfer of Assets or Dissolution.  This Agreement shall not be terminated by a voluntary or
involuntary dissolution of Employer or MTNV, or the transfer of all or
substantially all the stock or assets of Employer or MTNV, or the merger of
Employer or MTNV with or into another entity.

 

4.              CONFIDENTIALITY AND TRADE SECRETS

 

4.1          Proprietary
Information and Inventions Agreement.  Executive agrees to abide by all of Employer’s policies and
procedures and further agrees to continue to abide by the terms of the Employee
Proprietary Information and Inventions Agreement signed by Executive on January
1, 2003, a copy of which is attached hereto as Exhibit B.

 

 

4.2          Nonsolicitation
Obligations.  Executive
agrees that during his employment and for two (2) years following the
termination of his employment, he will not, either directly or through others,
solicit, attempt to solicit, or induce any employee, consultant or independent
contractor of Employer or MTNV to terminate his or her relationship with these
entities in order to become an employee, consultant or independent contractor
to or for any other person or business entity. 
Executive also agrees that in order to protect MTNV and Employer’s
confidential and proprietary information, for two (2) years following the
termination of his employment, he will not, either directly or through others,
render services to, contract with, or attempt to solicit business from any
principal, customer or prospective customer of Employer or MTNV for products or
services offered by Employer or MTNV at the time of Executive’s termination of
employment.

 

4.3          Scope of
Restrictions.  If the
scope of the restrictions in this section are determined by a court of
competent jurisdiction to be too broad to permit enforcement of such
restrictions to their full extent, then such restrictions shall be construed or
rewritten (“Blue-lined”) so as to be enforceable to the maximum extent
permitted by law, and Executive hereby consents, to the extent he may lawfully
do so, to the judicial modification of the scope of such restrictions in any
proceeding brought to enforce them.

 

5.              MISCELLANEOUS

 

5.1          Amendment. 
This Agreement may be amended only in writing signed by each of the
parties.

 

5.2          Entire
Agreement.  This
Agreement, including its attachments, contains the entire agreement between the
parties with respect to its subject matter and supersedes all prior agreements
and understandings, oral or written, between the parties, including but not
limited to the offer letter agreement between Executive and Employer dated
January 1, 2003 and the consulting agreement between Executive and Employer
dated September 20, 2002 (the “Consulting Agreement”).  Executive further agrees that he has not
earned and will not be eligible to receive any bonus payments under the
Consulting Agreement.

 

5.3          No
Assignment by Executive. 
Executive acknowledges that the services to be rendered by him are
unique and personal.  Accordingly,
Executive may not delegate or assign any of his obligations under this
Agreement.

 

5.4          Successors
and Assigns.  Subject to
Section 5.3, the provisions of this Agreement shall be binding upon and inure
to the benefit of the parties hereto, any successor to or assign of Employer or
MTNV, and upon Executive’s heirs and the personal representative of Executive
or Executive’s estate.

 

5.5          Notices.  Any notice or other communication required
or permitted hereunder shall be sufficient if given in writing, (i) by
hand-delivery, (ii) by express courier, (iii) by first class mail, certified or
registered with return receipt requested or (iv) by facsimile transmission with
written confirmation sent the same day by first class mail, certified or
registered with return receipt requested, which shall be addressed as follows
(or to such other address as a party may specify by notice duly given in
accordance with this Section 5.5):

 

 

If to Employer:

 

	
  Metron Technology
  Distribution Corporation

  
	
  1350 Old Bayshore Highway,
  Suite 210

  
	
  Burlingame,
  California  94010

  
	
  Telephone:  (650) 401-4600

  
	
  Facsimile:  (650) 373-1135

  
	
  Attention:  Edward Segal, Chairman and Chief Executive
  Officer

  

 

 

 

 

                If
to MTNV:

 

	
  Metron Technology N.V.

  	
   

  	
   

  
	
  c/o Mr. Joel Elftmann,
  Chairman, Supervisory Board of Directors

  	
   

  	
   

  
	
  6963 Kenmare Drive

  	
   

  	
   

  
	
  Bloomington,
  Minnesota   55438

  

 

 

 

                If
to Executive:

 

	
  Mr. Douglas J. McCutcheon

  	
   

  	
   

  
	
  1335 Elsona Drive

  	
   

  	
   

  
	
  Sunnyvale, California    94087

  

 

 

Any notice so sent shall be deemed
effectively made on the day of actual delivery to the recipient (if by hand or
express courier), on the fifth business day following mailing (if by airmail)
or on the next business day following transmission (if by telefax with written
confirmation).

 

5.6          Waiver of
Breach.  Any waiver by either party of
compliance with any provision of this Agreement by the other party shall not
operate or be construed as a waiver of any other provision of this Agreement,
or of any subsequent breach by such party of a provision of this
Agreement.  No waiver by MTNV shall be
valid unless in writing and signed by the Chairman of the MTNV Supervisory
Board.

 

5.7          Severability.  If any one or more of the provisions (or
portions thereof) of this Agreement shall for any reason be held by a final
determination of a court of competent jurisdiction to be invalid, illegal, or
unenforceable in any respect, such invalidity, illegality or unenforceability
shall not affect any other provisions (or portions of the provisions) of this
Agreement, and the invalid, illegal or unenforceable provisions shall be deemed
replaced by a provision that is valid, legal and enforceable and that comes
closest to expressing the intention of the parties hereto.

 

5.8          Governing
Law.  This Agreement shall be
interpreted and enforced in accordance with the laws of the State of
California, without giving effect to conflict of law principles.  Executive hereby expressly agrees that the
intention of the parties is that Executive will remain a resident of California
and will perform all or substantially all of his services as an employee of
Employer hereunder and as a Managing Director of MTNV in and from the United
States and not The Netherlands. 
Accordingly, the parties hereby expressly exclude application of
Netherlands law to this Agreement (unless provided otherwise herein), including
in particular but without limitation all Netherlands laws regarding employment,
termination of employment and employee benefits.  Executive hereby irrevocably consents to such exclusion and
waives any and all claims or causes of action that he might otherwise assert
against MTNV, its subsidiaries, officers, directors and shareholders based on,
or arising out of, any provision of Netherlands law.

 

5.9          Dispute
Resolution.  Unless
otherwise prohibited by law, all disputes, claims, and causes of action
(including but not limited to any claims of statutory discrimination of any
type), in law or equity, arising from or relating to this Agreement or its enforcement,
performance, breach, or interpretation, or to Executive’s employment with
Employer or service with MTNV, or the termination of that employment or
service, shall be resolved solely and exclusively by final, binding and
confidential arbitration through Judicial Arbitration & Mediation
Services/Endispute, Inc. (“JAMS”) under the then existing JAMS employment
arbitration rules.  Employer shall be
responsible for paying any and all fees and costs necessary to initiate such
arbitration proceedings, subject to final apportionment by the Arbitrator.  Executive understands and agrees that this
provision waives his right to a jury or court trial or to administrative
proceedings with respect to these claims. 
This arbitration shall be held in the San 

 

 

 

Francisco Bay area.  Nothing in this section is intended to prevent either party from
obtaining injunctive relief in court to prevent irreparable harm pending the
conclusion of any such arbitration.

 

5.10        Attorneys’
Fees.  In the event of litigation or
arbitration between Executive and Employer arising under Section 5.9 herein,
the prevailing party shall be entitled to reimbursement from the non-prevailing
party for its reasonable attorneys’ fees and costs of suit to the fullest
extent permitted by law, in addition to such other relief as may be granted.

 

5.11        Headings.  The headings of articles and sections herein
are included solely for convenience and reference and shall not control the
meaning or interpretation of any of the provisions of this Agreement.

 

5.12        Counterparts.  This Agreement may be executed by either of
the parties hereto in counterparts, each of which shall be deemed to be an
original, but all such counterparts shall constitute a single instrument.

 

 

 

IN WITNESS WHEREOF, the parties have executed
this Agreement effective as of the date set forth above.

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  METRON TECHNOLOGY N.V.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Joel Elftmann

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Joel Elftmann

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Chairman of the Supervisory Board

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  METRON TECHNOLOGY DISTRIBUTION
  CORPORATION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ EDWARD D. SEGAL

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Edward D. Segal

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Chairman and Chief Executive Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  EXECUTIVE

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  /s/  DOUGLAS J. McCUTCHEON

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Douglas J. McCutcheon

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

 

 

EXHIBIT A

 

RELEASE AGREEMENT

 

 

 

I
hereby hereby generally and completely release Metron Technology Distribution
Corporation (the “Company”), Metron Technology N.V. (“MTNV”), and its and their
directors, officers, employees, shareholders, partners, agents, attorneys,
predecessors, successors, parent and subsidiary entities, insurers, affiliates,
and assigns from any and all claims, liabilities and obligations, both known
and unknown, that arise out of or are in any way related to events, acts, conduct,
or omissions occurring at any time prior to and including the date I sign this
Release Agreement (“Release”).  This
general release includes, but is not limited to: (a) all claims arising out of
or in any way related to my employment with the Company or MTNV or the
termination of that employment; (b) all claims related to my compensation or
benefits from the Company or MTNV, including salary, bonuses, commissions,
vacation pay, expense reimbursements, severance pay, fringe benefits, stock,
stock options, or any other ownership interests in the Company or MTNV;
(c) all claims for breach of contract, wrongful termination, and breach of
the implied covenant of good faith and fair dealing; (d) all tort claims,
including claims for fraud, defamation, emotional distress, and discharge in
violation of public policy; and (e) all federal, state, and local statutory
claims, including claims for discrimination, harassment, retaliation,
attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964
(as amended), the federal Americans with Disabilities Act of 1990, the federal
Age Discrimination in Employment Act of 1967 (as amended) (“ADEA”), the laws of
The Netherlands, and the California Fair Employment and Housing Act (as
amended).

 

                I acknowledge that I am knowingly and voluntarily
waiving and releasing any rights I may have under the ADEA, as amended.  I also acknowledge that the consideration
given for the waiver and release in the preceding paragraph hereof is in
addition to anything of value to which I was already entitled.  I further acknowledge that I have been
advised by this writing, as required by the ADEA, that:  (a) my waiver and release do not apply to any
rights or claims that may arise after the date I sign this Release; (b) I have
been advised hereby that I have the right to consult with an attorney prior to
signing this Release (although I may choose not to do so); (c) I have
twenty-one (21) days to consider this Release (although I may choose to
voluntarily sign it earlier); (d) I have seven (7) days following the date that
I sign this Release to revoke the Release by providing written notice of
revocation to the Company; and (e) this Release shall not be effective until
the date upon which the revocation period has expired, which shall be the
eighth day after the date that I sign this Release, provided that the Company
has also signed the Release by that date (“Effective Date”).

 

                In
giving this Release, which includes claims which may be unknown to me at
present, I acknowledge that I have read and understand Section 1542 of the
California Civil Code which reads as folows: 
“A
general release does not extend to claims which the creditor does not know or
suspect to exist in his favor at the time of executing the release, which if known
by him must have materially affected his settlement with the debtor.”  I hereby hereby
expressly waive and relinquish all rights and benefits under that section and
any law or legal principle of similar effect in any jurisdiction with respect
to my release of claims herein, including but not limited to unknown and
unsuspected claims.

 

 

 

 

 

                The
parties hereto have caused this Release Agreement to be executed on the dates
set forth below.

 

 

	
   

  
	
  METRON TECHNOLOGY
  DISTRIBUTION CORPORATION:

  
	
   

  
	
  By: 

  	
   

  
	
  Edward D. Segal

  
	
  Chairman and Chief Executive Officer

  
	
   

  
	
  Date: 

  	
   

  
	
   

  
	
  EXECUTIVE

  
	
   

  
	
   

  
	
  Douglas J. McCutcheon

  
	
   

  
	
  Date: 

  	
   

  
			

 

 

 

EXHIBIT B

 

EMPLOYEE PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT

 

Metron Technology Distribution Corporation

EMPLOYEE PROPRIETARY INFORMATION

AND INVENTIONS AGREEMENT

In consideration of my
employment or continued employment by Metron Technology
Distribution Corporation (the “Company”), and the compensation now and
hereafter paid to me, I hereby agree as follows:

1.             Nondisclosure.

1.1          Recognition
of Company’s Rights; Nondisclosure.  At all times during my employment and thereafter, I will hold in
strictest confidence and will not disclose, use, lecture upon or publish any of
the Company’s Proprietary Information (defined below), except as such
disclosure, use or publication may be required in connection with my work for
the Company, or unless an officer of the Company expressly authorizes such in
writing.  I will obtain Company’s
written approval before publishing or submitting for publication any material
(written, verbal, or otherwise) that relates to my work at Company and/or
incorporates any Proprietary Information. 
I hereby assign to the Company any rights I may have or acquire in such
Proprietary Information and recognize that all Proprietary Information shall be
the sole property of the Company and its assigns.

1.2          Proprietary
Information.  The term
“Proprietary
Information” shall mean any and all confidential and/or proprietary
knowledge, data or information of the Company. 
By way of illustration but not limitation, “Proprietary Information”
includes (a) trade secrets, inventions, mask works, ideas, processes, formulas,
source and object codes, data, programs, other works of authorship, know-how,
improvements, discoveries, developments, designs and techniques (hereinafter
collectively referred to as “Inventions”); and (b) information regarding
plans for research, development, new products, marketing and selling, business
plans, budgets and unpublished financial statements, licenses, prices and
costs, suppliers and customers; and (c) information regarding the skills and
compensation of other employees of the Company.  Notwithstanding the foregoing, it is understood that, at all
times, I am free to use information which is generally known in the trade or
industry, which is not gained as a result of a breach of this Agreement, and my
own skill, knowledge, know-how and experience to whatever extent and in
whichever way I wish.

1.3          Third Party Information.  I understand, in
addition, that the Company has received and in the future will receive from
third parties confidential or proprietary information (“Third Party Information”)
subject to a duty on the Company’s part to maintain the confidentiality of such
information and to use it only for certain limited purposes.  During the term of my employment and
thereafter, I will hold Third Party Information in the strictest confidence and
will not disclose to anyone (other than Company personnel who need to know such
information in connection with their work for the Company) or use, except in
connection with my work for the Company, Third Party Information unless
expressly authorized by an officer of the Company in writing.

1.4          No
Improper Use of Information of Prior Employers and Others.  During my employment by the Company I will
not improperly use or disclose any confidential information or trade secrets,
if any, of any former employer or any other person to whom I have an obligation
of confidentiality, and I will not bring onto the premises of the Company any
unpublished documents or any property belonging to any former employer or any
other person to whom I have an obligation of confidentiality unless consented
to in writing by that former employer or person.  I will use in the performance of my duties only information which
is generally known and used by persons with training and experience comparable
to my own, which is common knowledge in the industry or otherwise legally in
the public domain, or which is otherwise provided or developed by the Company.

2.             Assignment Of Inventions.

2.1          Proprietary
Rights.  The term “Proprietary
Rights” shall mean all trade secret, patent, copyright, mask work
and other intellectual property rights throughout the world.

2.2          Prior
Inventions. 
Inventions, if any, patented or unpatented, which I made prior to the
commencement of my employment with the Company are excluded from the scope of
this Agreement.  To preclude any
possible uncertainty, I have set forth on Exhibit B (Previous Inventions) attached
hereto a complete list of all Inventions that I have, alone or jointly with
others, conceived, developed or reduced to practice or caused to be conceived,
developed or reduced to practice prior to the commencement of my employment
with the Company, that I consider to be my property or the property of third
parties and that I wish to have excluded from the scope of this

 

1

 

 

Agreement (collectively referred to as “Prior Inventions”).  If disclosure of any such Prior Invention
would cause me to violate any prior confidentiality agreement, I understand
that I am not to list such Prior Inventions in Exhibit B but am only to
disclose a cursory name for each such invention, a listing of the party(ies) to
whom it belongs and the fact that full disclosure as to such inventions has not
been made for that reason. A space is provided on Exhibit B for such
purpose.  If no such disclosure is
attached, I represent that there are no Prior Inventions.  If, in the course of my employment with the
Company, I incorporate a Prior Invention into a Company product, process or
machine, the Company is hereby granted and shall have a nonexclusive,
royalty-free, irrevocable, perpetual, worldwide license (with rights to
sublicense through multiple tiers of sublicensees) to make, have made, modify,
use and sell such Prior Invention. 
Notwithstanding the foregoing, I agree that I will not incorporate, or
permit to be incorporated, Prior Inventions in any Company Inventions without
the Company’s prior written consent.

 

2.3          Assignment
of Inventions. Subject to Sections 2.4, and 2.6, I hereby
assign and agree to assign in the future (when any such Inventions or
Proprietary Rights are first reduced to practice or first fixed in a tangible
medium, as applicable) to the Company all my right, title and interest in and
to any and all Inventions (and all Proprietary Rights with respect thereto)
whether or not patentable or registrable under copyright or similar statutes,
made or conceived or reduced to practice or learned by me, either alone or
jointly with others, during the period of my employment with the Company.  Inventions assigned to the Company, or to a
third party as directed by the Company pursuant to this Section 2, are
hereinafter referred to as “Company Inventions.”

2.4          Nonassignable
Inventions.  This
Agreement does not apply to an Invention which qualifies fully as a
nonassignable Invention under Section 2870 of the California Labor Code
(hereinafter “Section 2870”).  I have
reviewed the notification on Exhibit A (Limited Exclusion
Notification) and agree that my signature acknowledges receipt of the
notification.

2.5          Obligation
to Keep Company Informed. 
During the period of my employment and for six (6) months after
termination of my employment with the Company, I will promptly disclose to the
Company fully and in writing all Inventions authored, conceived or reduced to
practice by me, either alone or jointly with others.  In addition, I will promptly disclose to the Company all patent
applications filed by me or on my behalf within a year after termination of
employment.  At the time of each such
disclosure, I will advise the Company in writing of any Inventions that I
believe fully qualify for protection under Section 2870; and I will at that
time provide to the Company in writing all evidence necessary to substantiate
that belief.  The Company will keep in
confidence and will not use for any purpose or disclose to third parties
without my consent any confidential information disclosed in writing to the Company
pursuant to this Agreement relating to Inventions that qualify fully for
protection under the provisions of Section 2870.  I will preserve the confidentiality of any Invention that does
not fully qualify for protection under Section 2870.

2.6          Government
or Third Party.  I
also agree to assign all my right, title and interest in and to any particular
Company Invention to a third party, including without limitation the United
States, as directed by the Company.

2.7          Works
for Hire.  I
acknowledge that all original works of authorship which are made by me (solely
or jointly with others) within the scope of my employment and which are
protectable by copyright are “works made for hire,” pursuant to United States
Copyright Act (17 U.S.C., Section 101).

2.8          Enforcement
of Proprietary Rights. 
I will assist the Company in every proper way to obtain, and from time
to time enforce, United States and foreign Proprietary Rights relating to
Company Inventions in any and all countries. 
To that end I will execute, verify and deliver such documents and
perform such other acts (including appearances as a witness) as the Company may
reasonably request for use in applying for, obtaining, perfecting, evidencing,
sustaining and enforcing such Proprietary Rights and the assignment
thereof.  In addition, I will execute,
verify and deliver assignments of such Proprietary Rights to the Company or its
designee.  My obligation to assist the
Company with respect to Proprietary Rights relating to such Company Inventions
in any and all countries shall continue beyond the termination of my
employment, but the Company shall compensate me at a reasonable rate after my
termination for the time actually spent by me at the Company’s request on such
assistance.

In the event the Company is unable for any
reason, after reasonable effort, to secure my signature on any document needed
in connection with the actions specified in the preceding paragraph, I hereby
irrevocably designate and appoint the Company and its duly authorized officers
and agents as my agent and attorney in fact, which appointment is coupled with
an interest, to act for and in my behalf to execute, verify and file any such
documents and to do all other lawfully permitted acts to further the purposes
of the preceding paragraph with the same legal force and effect as if executed
by me.  I hereby waive and quitclaim to
the

 

2

 

Company any and all claims, of any nature
whatsoever, which I now or may hereafter have for infringement of any
Proprietary Rights assigned hereunder to the Company.

3.             Records.  I
agree to keep and maintain adequate and current records (in the form of notes,
sketches, drawings and in any other form that may be required by the Company)
of all Proprietary Information developed by me and all Inventions made by me
during the period of my employment at the Company, which records shall be
available to and remain the sole property of the Company at all times.

4.             Additional Activities.  I agree that during the period of my employment by the Company I
will not, without the Company’s express written consent, engage in any
employment or business activity which is competitive with, or would otherwise
conflict with, my employment by the Company. 
I agree further that for the period of my employment by the Company and
for one (l) year after the date of termination of my employment by the Company
I will not, either directly or through others, solicit or attempt to solicit
any employee, independent contractor or consultant of the company to terminate
his or her relationship with the Company in order to become an employee,
consultant or independent contractor to or for any other person or entity.

5.             No Conflicting Obligation.  I represent that my performance of all the terms of this
Agreement and as an employee of the Company does not and will not breach any
agreement to keep in confidence information acquired by me in confidence or in
trust prior to my employment by the Company. 
I have not entered into, and I agree I will not enter into, any
agreement either written or oral in conflict herewith.

6.             Return Of Company Documents.  When I leave the employ of the Company, I will deliver to the
Company any and all drawings, notes, memoranda, specifications, devices,
formulas, and documents, together with all copies thereof, and any other
material containing or disclosing any Company Inventions, Third Party
Information or Proprietary Information of the Company.  I further agree that any property situated
on the Company’s premises and owned by the Company, including disks and other
storage media, filing cabinets or other work areas, is subject to inspection by
Company personnel at any time with or without notice.  Prior to leaving, I will cooperate with the Company in completing
and signing the Company’s termination statement.

7.             Legal And Equitable Remedies.  Because my services are personal and unique and because I may
have access to and become acquainted with the Proprietary Information of the
Company, the Company shall have the right to enforce this Agreement and any of
its provisions by injunction, specific performance or other equitable relief,
without bond and without prejudice to any other rights and remedies that the
Company may have for a breach of this Agreement.

8.             Notices.  Any notices required or
permitted hereunder shall be given to the appropriate party at the address
specified below or at such other address as the party shall specify in
writing.  Such notice shall be deemed
given upon personal delivery to the appropriate address or if sent by certified
or registered mail, three (3) days after the date of mailing.

9.             Notification Of New Employer.  In the event that I leave the employ of the Company, I hereby
consent to the notification of my new employer of my rights and obligations
under this Agreement.

10.          General Provisions.

10.1        Governing
Law; Consent to Personal Jurisdiction.  This Agreement will be governed by and
construed according to the laws of the State of California, as such laws are
applied to agreements entered into and to be performed entirely within
California between California residents. 
I hereby expressly consent to the personal jurisdiction of the state and
federal courts located in Santa Clara County, California for any lawsuit filed
there against me by Company arising from or related to this Agreement.

10.2        Severability.  In case any one or more of the provisions
contained in this Agreement shall, for any reason, be held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality or unenforceability
shall not affect the other provisions of this Agreement, and this Agreement
shall be construed as if such invalid, illegal or unenforceable provision had
never been contained herein.  If
moreover, any one or more of the provisions contained in this Agreement shall
for any reason be held to be excessively broad as to duration, geographical
scope, activity or subject, it shall be construed by limiting and reducing it,
so as to be enforceable to the extent compatible with the applicable law as it
shall then appear.

10.3        Successors
and Assigns.  This
Agreement will be binding upon my heirs, executors, administrators and other
legal representatives and will be for the benefit of the Company, its
successors, and its assigns.

10.4        Survival.  The provisions of this Agreement shall
survive the termination of my employment and the assignment of this Agreement
by the Company to any successor in interest or other assignee.

 

3

 

10.5        Employment.
I agree and understand that nothing in this Agreement shall confer any right
with respect to continuation of employment by the Company, nor shall it
interfere in any way with my right or the Company’s right to terminate my
employment at any time, with or without cause.

10.6        Waiver.
No waiver by the Company of any breach of this Agreement shall be a waiver of
any preceding or succeeding breach.  No
waiver by the Company of any right under this Agreement shall be construed as a
waiver of any other right.  The Company
shall not be required to give notice to enforce strict adherence to all terms
of this Agreement.

10.7        Entire
Agreement.  The
obligations pursuant to Sections 1 and 2 of this Agreement shall apply to any
time during which I was previously employed, or am in the future employed, by
the Company as a consultant if no other agreement governs nondisclosure and
assignment of inventions during such period. 
This Agreement is the final, complete and exclusive agreement of the
parties with respect to the subject matter hereof and supersedes and merges all
prior discussions between us.  No
modification of or amendment to this Agreement, nor any waiver of any rights
under this Agreement, will be effective unless in writing and signed by the
party to be charged.  Any subsequent
change or changes in my duties, salary or compensation will not affect the
validity or scope of this Agreement.

This Agreement shall be effective as of the
first day of my employment with the Company, namely:

January 1, 2003.

 

I have read this agreement carefully
and understand its terms.  I have
completely filled out Exhibit B to this agreement.

 

Dated: January 1, 2003

 

	
  /s/  DOUGLAS J. McCUTCHEON

  	
   

  
	
  (Signature)

  	
   

  
	
   

  	
   

  
	
  Douglas J. McCutcheon

  	
   

  
	
  (Printed Name)

  	
   

  
	
   

  	
   

  
	
  Accepted And Agreed To:

  	
   

  
	
   

  	
   

  
	
  Metron TEchnology Distribution
  corporation

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/  EDWARD D. SEGAL

  	
   

  
	
   

  	
   

  
	
  Title:

  	
  Edward D. Segal

  	
   

  
	
   

  	
   

  
	
  (Address)

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Dated: February 12,
  2003

  	
   

  
				

 

4

 

Exhibit A

 

LIMITED EXCLUSION NOTIFICATION

 

This Is To
Notify you in accordance with Section 2872 of the California Labor Code that
the foregoing Agreement between you and the Company does not require you to
assign or offer to assign to the Company any invention that you developed
entirely on your own time without using the Company’s equipment, supplies,
facilities or trade secret information except for those inventions that either:

 

1.             Relate at the time of
conception or reduction to practice of the invention to the Company’s business,
or actual or demonstrably anticipated research or development of the Company;
or

 

2.             Result from any work
performed by you for the Company.

 

To the extent a provision in
the foregoing Agreement purports to require you to assign an invention
otherwise excluded from the preceding paragraph, the provision is against the
public policy of this state and is unenforceable.

 

This limited exclusion does
not apply to any patent or invention covered by a contract between the Company
and the United States or any of its agencies requiring full title to such
patent or invention to be in the United States.

 

I Acknowledge Receipt of a copy of this
notification.

 

	
  By:  

  	
  /s/  DOUGLAS J. McCUTCHEON

  
	
  (Printed Name Of Employee)

  
	
   

  
	
  Date:

  	
  January 1, 2003

  
			

Witnessed
By:

 

	
    /s/  PEGGY ACKERBERG

  
	
  (Printed
  Name Of Representative)

  

 

A-1

 

Exhibit B

 

TO:                         Metron
Technology Distribution Corporation

FROM:                  Douglas J.
McCutcheon

DATE:                    January 7,
2003

SUBJECT:            Previous
Inventions

1.             Except
as listed in Section 2 below, the following is a complete list of all
inventions or improvements relevant to the subject matter of my employment by
Metron Technology Distribution Corporation (the “Company”) that have been made
or conceived or first reduced to practice by me alone or jointly with others
prior to my engagement by the Company:

 

ý  No inventions or improvements.

 

o  See below:

	
   

  
	
   

  
	
   

  

 

o            Additional sheets attached.

 

2.             Due
to a prior confidentiality agreement, I cannot complete the disclosure under
Section 1 above with respect to inventions or improvements generally listed
below, the proprietary rights and duty of confidentiality with respect to which
I owe to the following party(ies):

 

	
   

  	
   

  	
  Invention or Improvement

  	
   

  	
  Party(ies)

  	
   

  	
  Relationship

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

o            Additional sheets attached.

 

B-1<PAGE>

                                                                     Exhibit 4.1

                           GENERAL CABLE CORPORATION

                                   as Issuer

                                      and

                                                 ,

                                   as Trustee

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

                                   INDENTURE

                            Dated as of          ,20__

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

                             SENIOR DEBT SECURITIES

<PAGE>

                              CROSS-REFERENCE TABLE

  TIA                                                       Indenture
Section                                                      Section
-------                                                     ---------

310   (a)(1)...........................................     7.08; 7.10
      (a)(2)...........................................     7.08; 7.10
      (a)(3)...........................................     N.A.
      (a)(4)...........................................     N.A.
      (a)(5)...........................................     7.08
      (b)..............................................     7.08; 7.10; 10.02
      (c)..............................................     N.A.
311   (a)..............................................     7.11
      (b)..............................................     7.11
      (c)..............................................     N.A.
312   (a)..............................................     2.06
      (b)..............................................     10.03
      (c)..............................................     10.03
313   (a)..............................................     7.06
      (b)(1)...........................................     N.A.
      (b)(2)...........................................     7.05
      (c)..............................................     7.06; 10.02
      (d)..............................................     7.06
314   (a)..............................................     4.05; 4.06; 10.02
      (b)..............................................     N.A.
      (c)(1)...........................................     10.04
      (c)(2)...........................................     10.04
      (c)(3)...........................................     N.A.
      (d)..............................................     N.A.
      (e)..............................................     10.05
      (f)..............................................     N.A.
315   (a)..............................................     7.01(2)
      (b)..............................................     7.05; 10.02
      (c)..............................................     7.01(1)
      (d)..............................................     7.01(3)
      (e)..............................................     6.11
316   (a)(last sentence)...............................     2.11
      (a)(1)(A)........................................     6.05
      (a)(1)(B)........................................     6.04
      (a)(2)...........................................     N.A.
      (b)..............................................     6.07
      (c)..............................................     9.04
317   (a)(1)...........................................     6.08
      (a)(2)...........................................     6.09
      (b)..............................................     2.05
318   (a)..............................................     10.01
      (b)..............................................     N.A.
      (c)..............................................     10.01

-----------------------
N.A. means Not Applicable

Note:    This Cross-Reference Table shall not, for any purpose, be deemed to be
         a part of the Indenture
<PAGE>

                                TABLE OF CONTENTS

                                                                         Page
                                                                         ----

                                   ARTICLE ONE

                                   DEFINITIONS

SECTION 1.01.          Definitions.........................................1
SECTION 1.02.          Other Definitions...................................4
SECTION 1.03.          Rules of Construction...............................5

                                   ARTICLE TWO

                                 THE SECURITIES

SECTION 2.01.          Issuable in Series..................................5
SECTION 2.02.          Execution and Authentication........................7
SECTION 2.03.          Bond Agents.........................................8
SECTION 2.04.          Bearer Securities...................................8
SECTION 2.05.          Paying Agent to Hold Money in Trust.................9
SECTION 2.06.          Securityholder Lists................................9
SECTION 2.07.          Transfer and Exchange..............................10
SECTION 2.08.          Replacement Securities.............................10
SECTION 2.09.          Outstanding Securities.............................11
SECTION 2.10.          Discounted Securities..............................11
SECTION 2.11.          Treasury Securities................................11
SECTION 2.12.          Global Securities..................................11
SECTION 2.13.          Temporary Securities...............................12
SECTION 2.14.          Cancellation.......................................12
SECTION 2.15.          Defaulted Interest.................................12

                                  ARTICLE THREE

                                   REDEMPTION

SECTION 3.01.          Notices to Trustee.................................13
SECTION 3.02.          Selection of Securities to Be Redeemed.............13
SECTION 3.03.          Notice of Redemption...............................13
SECTION 3.04.          Effect of Notice of Redemption.....................14
SECTION 3.05.          Payment of Redemption Price........................14
SECTION 3.06.          Securities Redeemed in Part........................15

                                      -i-
<PAGE>
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                                                                         ----

                                  ARTICLE FOUR

                                    COVENANTS

SECTION 4.01.          Payment of Securities..............................15
SECTION 4.02.          Payment of Taxes; Maintenance of
                         Corporate Existence;
                         Maintenance of Properties........................16
SECTION 4.03.          SEC Reports........................................17
SECTION 4.04.          Annual Review Certificate..........................17
SECTION 4.05.          Maintenance of Office or Agency....................17
SECTION 4.06.          Waiver of Stay, Extension or Usury Laws............17
SECTION 4.07.          Notice to Trustee of Certain Defaults..............18
SECTION 4.08.          Further Assurances to Trustee......................18

                                  ARTICLE FIVE

                                   SUCCESSORS

SECTION 5.01.          When Company May Merge, etc........................18

                                   ARTICLE SIX

                              DEFAULTS AND REMEDIES

SECTION 6.01.          Events of Default..................................19
SECTION 6.02.          Acceleration.......................................21
SECTION 6.03.          Other Remedies.....................................21
SECTION 6.04.          Waiver of Past Defaults............................22
SECTION 6.05.          Control by Majority................................22
SECTION 6.06.          Limitations on Suits...............................22
SECTION 6.07.          Rights of Holders to Receive Payment...............22
SECTION 6.08.          Collection Suit by Trustee.........................23
SECTION 6.09.          Trustee May File Proofs of Claims..................23
SECTION 6.10.          Priorities.........................................23
SECTION 6.11.          Undertaking for Costs..............................24
SECTION 6.12.          Restoration of Rights and Remedies.................24
SECTION 6.13.          Rights and Remedies Cumulative.....................24
SECTION 6.14.          Delay or Omission Not Waiver.......................24
SECTION 6.15.          Waiver of Stay, Extension or Usury Laws............25

                                      -ii-
<PAGE>
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                                                                         ----

                                  ARTICLE SEVEN

                                     TRUSTEE

SECTION 7.01.          Duties of Trustee..................................25
SECTION 7.02.          Rights of Trustee..................................26
SECTION 7.03.          Individual Rights of Trustee.......................27
SECTION 7.04.          Trustee's Disclaimer...............................27
SECTION 7.05.          Notice of Defaults.................................27
SECTION 7.06.          Reports by Trustee to Holders......................27
SECTION 7.07.          Compensation and Indemnity.........................27
SECTION 7.08.          Replacement of Trustee.............................28
SECTION 7.09.          Successor Trustee by Merger, etc...................29
SECTION 7.10.          Eligibility; Disqualification......................29
SECTION 7.11.          Preferential Collection of
                       Claims Against Company.............................30

                                  ARTICLE EIGHT

                             DISCHARGE OF INDENTURE

SECTION 8.01.          Defeasance.........................................30
SECTION 8.02.          Conditions to Defeasance...........................30
SECTION 8.03.          Application of Trust Money.........................31
SECTION 8.04.          Repayment to Company...............................32

                                  ARTICLE NINE

                                   AMENDMENTS

SECTION 9.01.          Without Consent of Holders.........................32
SECTION 9.02.          With Consent of Holders............................32
SECTION 9.03.          Compliance with Trust Indenture Act................33
SECTION 9.04.          Effect of Consents.................................33
SECTION 9.05.          Notation on or Exchange of Securities..............34

                                   ARTICLE TEN

                                  MISCELLANEOUS

SECTION 10.01.         Trust Indenture Act................................34
SECTION 10.02.         Notices............................................34
SECTION 10.03.         Communications by Holders
                         with Other Holders...............................35

                                     -iii-
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                                                                         ----

SECTION 10.04.         Certificate and Opinion
                         as to Conditions Precedent.......................35
SECTION 10.05.         Statements Required in
                         Certificate or Opinion...........................36
SECTION 10.06.         Rules by Company and Agents........................36
SECTION 10.07.         Legal Holidays.....................................36
SECTION 10.08.         No Recourse Against Others.........................36
SECTION 10.09.         Duplicate Originals................................36
SECTION 10.10.         Governing Law......................................37

SIGNATURES            .....................................................1

Exhibit A         -   Form of Registered Security........................A-1
Exhibit B         -   Form of Bearer Security ...........................B-1
Exhibit C         -   Form of Assignment.................................C-1
Exhibit D         -   Form of Conversion Notice..........................D-1

                                      -iv-
<PAGE>

                  INDENTURE dated as of            , 20__ between GENERAL CABLE
CORPORATION, a Delaware corporation ("Company"), and                 ,
a               ("Trustee").

                  Each party agrees as follows for the benefit of the Holders of
the Company's debt securities issued under this Indenture:

                                   ARTICLE ONE

                                   DEFINITIONS

SECTION 1.01.     Definitions.

                  "Affiliate" means any person directly or indirectly
controlling or controlled by or under direct or indirect common control with the
Company.

                  "Agent" means any Registrar, Transfer Agent or Paying Agent.

                  "Authorized Newspaper" means a newspaper that is:

                        (1) printed in the English language or in an official
            language of the country of publication;

                        (2) customarily published on each business day in the
            place of publication; and

                        (3) of general circulation in the relevant place or in
            the financial community of such place.

                  Whenever successive publications in an Authorized Newspaper
are required, they may be made on the same or different business days and in the
same or different Authorized Newspapers.

                  "Bearer Security" means a Security payable to bearer.

                  "Board" or "Board of Directors" means the Board of Directors
of the Company or any authorized committee of the Board.

                  "Bond Resolution" means a resolution adopted by the Board or
by an Officer or committee of Officers pursuant to Board delegation authorizing
a series of Securities.

                  "Capital Stock" means any and all shares, interests,
participations or other equivalents (however designated) of capital stock of any
person and all warrants or options to acquire such capital stock.

<PAGE>
                                      -2-

                  "Common Stock" means the Common Stock, par value $0.01 per
share, of the Company or any security into which the Common Stock may be
converted.

                  "Company" means the party named as such above until a
successor replaces it and thereafter means the successor.

                  "Consolidated Tangible Net Worth" means the excess of (i) the
net book value of the assets of the Company and its Subsidiaries (other than
patents, patent rights, trademarks, trade names, franchises, copyrights,
licenses, permits, goodwill and other intangible assets classified as such in
accordance with GAAP) after all appropriate deductions in accordance with GAAP
(including, without limitation, reserves for doubtful receivables, obsolescence,
depreciation and amortization) plus the amount, if any, by which the market
value of precious metals inventories exceeds the carrying value of those metals
on the consolidated books of account of the Company and its Subsidiaries reduced
by taxes estimated to be payable upon realization as calculated by the Company
and reviewed by the Company's auditors over (ii) the consolidated liabilities
(including tax and other proper accruals) of the Company and its Subsidiaries,
in each case computed and consolidated in accordance with GAAP.

                  "Conversion Rate" means such number of shares of Common Stock
for which $1,000 aggregate principal amount of Securities of any series is
convertible, initially as stated in the Bond Resolution authorizing the series
and as adjusted pursuant to the terms of this Indenture and the Bond Resolution.

                  "coupon" means an interest coupon for a Bearer Security.

                  "Default" with respect to a series of the Securities or to all
series of the Securities, as the case may be, means any event which is, or after
notice or passage of time would be, an Event of Default with respect to such
series or to all series of the Securities, as the case may be.

                  "Discounted Security" means a Security where the amount of
principal due upon acceleration is less than the stated principal amount.

                  "GAAP" shall mean generally accepted accounting principles set
forth in the opinions and pronouncements of the Accounting Principles Board of
the American Institute of Certified Public Accountants and statements and
pronouncements of the Financial Accounting Standards Board or in such other
statements by such other entity as may be approved by a significant segment of
the accounting profession, which are applicable to the circumstances as in
effect on the date of this Indenture.

                  "Holder" or "Securityholder" means the person in whose name a
Registered Security is registered and the bearer of a Bearer Security or coupon.

<PAGE>
                                      -3-

                  "Indenture" means this Indenture and any Bond Resolution as
amended from time to time.

                  "Lien" means any mortgage, pledge, security interest,
encumbrance, lien or charge of any kind whatsoever (including any conditional
sale or other title retention agreement, any lease in the nature thereof, and
the filing of or agreement to give any financing statement under the Uniform
Commercial Code of any jurisdiction) but in no event shall "Lien" include any
defeasance pursuant to Article 8 hereof.

                  "NASDAQ" means the National Association of Securities Dealers
Automated Quotation System.

                  "Officer" means the Chairman of the Board, the President, any
Vice President (including any Executive Vice President or Senior Vice
President), the Treasurer, any Assistant Treasurer, the Secretary, or the
Controller of the Company.

                  "Officers' Certificate" means a certificate signed by two
Officers or by an Officer and an Assistant Secretary or Assistant Controller of
the Company.

                  "Opinion of Counsel" means a written opinion from legal
counsel who is acceptable to the Trustee. The counsel may be an employee of or
counsel to the Company or the Trustee.

                  "principal" of a debt security means the principal of the
security plus the premium, if and when applicable, on the security.

                  "Registered Security" means a Security registered as to
principal and interest by the Registrar.

                  "SEC" means the Securities and Exchange Commission.

                  "Securities" means the debt securities issued under this
Indenture.

                  "series" means a series of Securities or the Securities of the
series.

                  "Significant Subsidiary" shall have the meaning assigned to
such term in Regulation S-X promulgated under the Securities Act of 1933, as
amended.

                  "Stock Trading Day" means each day on which the securities
exchange or quotation system which is used to determine the Market Price is open
for trading or quotation.

                  "Subsidiary" means any corporation, association or other
business entity, a majority (by number of votes) of the Voting Stock or control
of which is at the time owned or controlled by the Company or another Subsidiary
of the Company.

<PAGE>
                                      -4-

                  "Surviving Person" means, with respect to any person involved
in any transaction or that makes any disposition, the person formed by or
surviving such transaction or disposition or the person with or to which such
transaction or disposition is made.

                  "TIA" means the Trust Indenture Act of 1939 (15 U.S. Code ss.
77aaa-77bbbb) as in effect on the date of this Indenture.

                  "Treasury Regulations" means regulations of the U.S. Treasury
Department under the Internal Revenue Code of 1986, as amended.

                  "Trustee" means the party named as such above until a
successor replaces it and thereafter means the successor.

                  "Trust Officer" means the Chairman of the Board, the President
or any other officer or assistant officer of the Trustee assigned by the Trustee
to administer its corporate trust matters.

                  "United States" means the United States of America, its
territories and possessions and other areas subject to its jurisdiction.

                  "Voting Stock" means stock of any class or classes (however
designated) having ordinary voting power for the election of a majority of the
members of the board of directors (or governing body) of such corporation,
association or other business entity, other than stock having such power only by
reason of the happening of a contingency.

                  "Yield to Maturity" means the yield to maturity on any
Securities, calculated at the time of issuance of such Securities, or, if
applicable, at the most recent redetermination of interest on such Securities,
and calculated in accordance with accepted financial practice.

SECTION 1.02.     Other Definitions.

 Term                                               Defined in Section

"Bankruptcy Law"                                            6.01
"Bearer Securities List"                                    2.06
"Conversion Agent"                                          2.03
"Custodian"                                                 6.01
"Event of Default"                                          6.01
"Legal Holiday"                                            10.07
"Paying Agent"                                              2.03
"Registrar"                                                 2.03
"Transfer Agent"                                            2.03
"U.S. Government Obligations"                               8.02

<PAGE>
                                      -5-

SECTION 1.03.     Rules of Construction.

            Unless the context otherwise requires:

            (1) a term has the meaning assigned to it;

            (2) an accounting term not otherwise defined has the meaning
      assigned to it in accordance with GAAP in the United States;

            (3) GAAP principles are those applicable and in effect on the date
      of this Indenture;

            (4) all terms used in this Indenture that are defined by the TIA,
      defined by TIA reference to another statute or defined by SEC rule under
      the TIA have the meanings assigned to them by such definitions;

            (5) "or" is not exclusive; and

            (6) words in the singular include the plural, and in the plural
      include the singular.

                                  ARTICLE TWO

                                 THE SECURITIES

SECTION 2.01.     Issuable in Series.

                  The aggregate principal amount of Securities that may be
issued under this Indenture is unlimited. The Securities may be issued from time
to time in one or more series. All Securities of any one series and all coupons,
if any, appertaining to Bearer Securities of such series shall be substantially
identical except as to currency of payments due thereunder, the denomination in
which the Securities are issuable, the rate or rates of interest, or method of
determining the rate of interest, if any, the maturity, the date from which
interest, if any, shall accrue and except as may otherwise be provided by the
Company in or pursuant to a Bond Resolution or in any supplemental indenture
pertaining to such series of Securities. Each series shall be created by a Bond
Resolution or a supplemental indenture that establishes the terms of the series,
which may include the following:

            (1) the title of the Series;

            (2) the aggregate principal amount (or any limit on the aggregate
      principal amount) of the Series and, if any Securities of a Series are to
      be issued at a discount from their face amount, the method of computing
      the accretion of such discount;
<PAGE>
                                      -6-

            (3) the interest rate or rates, if any, or method of calculating the
      interest rate;

            (4) the date or dates from which interest will accrue;

            (5) the record dates for interest payable on Registered Securities;

            (6) the dates when principal and interest are payable;

            (7) the manner of paying principal and interest;

            (8) the places where principal and interest are payable;

            (9) the Registrar, Transfer Agent and Paying Agent;

            (10) the terms of any mandatory (including any sinking fund
      requirements) or optional redemption by the Company;

            (11) the terms of any repayment at the option of Holders;

            (12) the denominations in which Securities are issuable;

            (13) whether Securities will be issuable as Registered Securities or
      Bearer Securities;

            (14) whether and upon what terms Registered Securities and Bearer
      Securities may be exchanged;

            (15) whether any Securities will be represented by a Security in
      global form;

            (16) the terms of any global Security;

            (17) the terms of any tax indemnity;

            (18) the currencies (including any composite currency) in which
      principal or interest may be paid;

            (19) if payments of principal or interest may be made in a currency
      other than that in which Securities are denominated, the manner for
      determining such payments;

            (20) if amounts of principal or interest may be determined by
      reference to an index, formula or other method, the manner for determining
      such amounts;
<PAGE>
                                      -7-

            (21) provisions for electronic issuance of Securities or for
      Securities in uncertificated form;

            (22) the portion of principal payable upon acceleration of a
      Discounted Security;

            (23) any Events of Default or covenants in addition to or in lieu of
      those set forth in this Indenture;

            (24) whether and upon what terms Securities may be defeased, if
      different from the provisions set forth in this Indenture;

            (25) the forms of the Securities or any coupon, which, unless the
      Bond Resolution or supplemental indenture otherwise provides, shall be in
      the form of Exhibit A or B or otherwise;

            (26) any terms that may be required by or advisable under U.S. or
      other applicable laws;

            (27) the percentage of the principal amount of the Securities which
      is payable if the maturity of the Securities is accelerated in the case of
      Securities issued at a discount from their face amount;

            (28) whether and upon what terms the Securities will be convertible
      into or exchangeable for Common Stock of the Company; and

            (29) any other terms not inconsistent with this Indenture.

                  All Securities of one series need not be issued at the same
time and, unless otherwise provided, a series may be reopened for issuances of
additional Securities of such series or to establish additional terms of such
series of Securities.

                  The creation and issuance of a series and the authentication
and delivery thereof are not subject to any conditions precedent.

SECTION 2.02.     Execution and Authentication.

                  Two Officers shall sign the Securities by manual or facsimile
signature. The Company's seal may be reproduced on the Securities. An Officer
shall sign any coupons by facsimile signature.

                  If an Officer whose signature is on a Security or its coupons
no longer holds that office at the time the Security is authenticated or
delivered, the Security and coupons shall nevertheless be valid.

<PAGE>
                                      -8-

                  A Security and its coupons shall not be valid until the
Security is authenticated by the manual signature of the Registrar. The
signature shall be conclusive evidence that the Security has been authenticated
under this Indenture.

                  Each Registered Security shall be dated the date of its
authentication. Each Bearer Security shall be dated the date of its original
issuance or as provided in the Bond Resolution.

                  Securities may have notations, legends or endorsements
required by law, stock exchange rule, agreement or usage.

SECTION 2.03.     Bond Agents.

                  The Company shall maintain an office or agency where
Securities may be authenticated ("Registrar"), where Securities may be presented
for registration of transfer or for exchange ("Transfer Agent"), where
Securities may be presented for payment ("Paying Agent") and where Securities
may be presented for conversion ("Conversion Agent"). Whenever the Company must
issue or deliver Securities pursuant to this Indenture, the Registrar shall
authenticate the Securities at the Company's written request. The Transfer Agent
shall keep a register of the Securities and of their transfer and exchange.

                  The Company may appoint more than one Registrar, Transfer
Agent, Paying Agent or Conversion Agent for a series. The Company shall notify
the Trustee of the name and address of any Agent not a party to this Indenture.
If the Company fails to maintain a Registrar, Transfer Agent, Paying Agent or
Conversion Agent for a series, the Trustee shall act as such.

SECTION 2.04.     Bearer Securities.

                  U.S. laws and Treasury Regulations restrict sales or exchanges
of and payments on Bearer Securities. Therefore, except as provided below:

            (1) Bearer Securities will be offered, sold and delivered only
      outside the United States and will be delivered only upon presentation of
      a certificate in a form prescribed by the Company to comply with U.S. laws
      and regulations.

            (2) Bearer Securities will not be issued in exchange for Registered
      Securities.

            (3) All payments of principal and interest (including original issue
      discount) on Bearer Securities will be made outside the United States by a
      Paying Agent located outside the United States unless the Company
      determines that:
<PAGE>
                                      -9-

            (A) such payments may not be made by such Paying Agent because the
      payments are illegal or prevented by exchange controls as described in
      Treasury Regulation ss. 1.163-5(c)(2)(v); and

            (B) making the payments in the United States would not have an
      adverse tax effect on the Company.

                  If there is a change in the relevant provisions of U.S. laws
or Treasury Regulations or the judicial or administrative interpretation
thereof, a restriction set forth in paragraph (1), (2) or (3) above will not
apply to a series if the Company determines that the relevant provisions no
longer apply to the series or that failure to comply with the relevant
provisions would not have an adverse tax effect on the Company or on
Securityholders or cause the series to be treated as "registration-required"
obligations under U.S. law.

                  The Company shall notify the Trustee of any determinations by
the Company under this Section.

SECTION 2.05.     Paying Agent to Hold Money in Trust.

                  The Company shall require each Paying Agent for a series other
than the Trustee to agree in writing that the Paying Agent will hold in trust
for the benefit of the persons entitled thereto all money held by the Paying
Agent for the payment of principal of or interest on the series, and will notify
the Trustee of any default by the Company in making any such payment.

                  While any such default continues, the Trustee may require a
Paying Agent to pay all money so held by it to the Trustee. The Company at any
time may require a Paying Agent to pay all money held by it to the Trustee. Upon
payment over to the Trustee, the Paying Agent shall have no further liability
for the money.

                  If the Company or an Affiliate acts as Paying Agent for a
series, it shall segregate and hold as a separate trust fund all money held by
it as Paying Agent for the series.

SECTION 2.06.     Securityholder Lists.

                  The Trustee shall preserve in as current a form as is
reasonably practicable the most recent list available to it of the names and
addresses of Securityholders. If the Trustee is not the Transfer Agent, the
Company shall furnish to the Trustee semiannually and at such other times as the
Trustee may request a list in such form and as of such date as the Trustee may
reasonably require of the names and addresses of Holders of Registered
Securities and Holders of Bearer Securities whose names are on the list referred
to below.

<PAGE>
                                      -10-

                  The Transfer Agent shall keep a list of the names and
addresses of Holders of Bearer Securities who file a request to be included on
such list (the "Bearer Securities List"). A request will remain in effect for
two years unless renewed or amended.

                  Whenever the Company or the Trustee is required to mail a
notice to all Holders of Registered Securities of a series, it also shall mail
the notice to Holders of Bearer Securities of the series whose names are on the
Bearer Securities List.

                  Whenever the Company is required to publish a notice to all
Holders of Bearer Securities of a series, it also shall mail the notice to such
of them whose names are on the Bearer Securities List.

SECTION 2.07.     Transfer and Exchange.

                  Where Registered Securities of a series are presented to the
Transfer Agent with a request to register a transfer or to exchange them for an
equal principal amount of Registered Securities of other denominations of the
series, the Transfer Agent shall register the transfer or make the exchange if
its requirements for such transactions are met.

                  The Transfer Agent may require a Holder to pay a sum
sufficient to cover any taxes imposed on a transfer or exchange.

                  If a series provides for Registered and Bearer Securities and
for their exchange, Bearer Securities may be exchanged for Registered Securities
and Registered Securities may be exchanged for Bearer Securities as provided in
the Securities or the Bond Resolution if the requirements of the Transfer Agent
for such transactions are met and if Section 2.04 permits the exchange.

SECTION 2.08.     Replacement Securities.

                  If the Holder of a Security or coupon claims that it has been
lost, destroyed or wrongfully taken, then, in the absence of notice to the
Company or the Trustee that the Security or coupon has been acquired by a bona
fide purchaser, the Company shall issue a replacement Security or coupon if the
Company and the Trustee receive:

            (1) evidence satisfactory to them of the loss, destruction or
      taking;

            (2) an indemnity bond satisfactory to them; and

            (3) payment of a sum sufficient to cover their expenses and any
      taxes for replacing the Security or coupon.

A replacement Security of the same series shall contain identical terms and
shall have coupons attached corresponding to those, if any, on the original
Security.

<PAGE>
                                      -11-

                  Every replacement Security or coupon is an additional
obligation of the Company.

SECTION 2.09.     Outstanding Securities.

                  The Securities outstanding at any time are all the Securities
authenticated by the Registrar except for those canceled by it, those delivered
to it for cancellation, and those described in this Section as not outstanding.

                  If a Security is replaced pursuant to Section 2.08, it ceases
to be outstanding unless the Trustee and the Company receive proof satisfactory
to them that the replaced Security is held by a bona fide purchaser.

                  If Securities are considered paid under Section 4.01, they
cease to be outstanding and interest on them ceases to accrue.

                  A Security does not cease to be outstanding because the
Company or an Affiliate holds the Security.

SECTION 2.10.     Discounted Securities.

                  In determining whether the Holders of the required principal
amount of Securities have concurred in any direction, waiver or consent, the
principal amount of a Discounted Security shall be the amount of principal that
would be due as of the date of such determination if payment of the Security
were accelerated on that date.

SECTION 2.11.     Treasury Securities.

                  In determining whether the Holders of the required principal
amount of Securities have concurred in any direction, waiver or consent,
Securities owned by the Company or an Affiliate shall be disregarded, except
that for the purposes of determining whether the Trustee shall be protected in
relying on any such direction, waiver or consent, only Securities which the
Trustee knows are so owned shall be so disregarded.

SECTION 2.12.     Global Securities.

                  If the Bond Resolution so provides, the Company may issue some
or all of the Securities of a series in temporary or permanent global form. A
global Security may be in registered form, in bearer form with or without
coupons or in uncertificated form. A global Security shall represent that amount
of Securities of a series as specified in the global Security or as endorsed
thereon from time to time. At the Company's request, the Registrar shall endorse
a global Security to reflect the amount of any increase or decrease in the
Securities represented thereby.

<PAGE>
                                      -12-

                  The Company may issue a global Security only to a depository
designated by the Company. A depository may transfer a global Security only as a
whole to its nominee or to a successor depository.

                  The Bond Resolution may establish, among other things, the
manner of paying principal and interest on a global Security and whether and
upon what terms a beneficial owner of an interest in a global Security may
exchange such interest for definitive Securities.

                  The Company, an Affiliate, the Trustee and any Agent shall not
be responsible for any acts or omissions of a depository, for any depository
records of beneficial ownership interests or for any transactions between the
depository and beneficial owners.

SECTION 2.13.     Temporary Securities.

                  Until definitive Securities of a series are ready for
delivery, the Company may use temporary Securities. Temporary Securities shall
be substantially in the form of definitive Securities but may have variations
that the Company considers appropriate for temporary Securities. Temporary
Securities may be in global form. Temporary Bearer Securities may have one or
more coupons or no coupons. Without unreasonable delay, the Company shall
deliver definitive Securities in exchange for temporary Securities.

SECTION 2.14.     Cancellation.

                  The Company at any time may deliver Securities to the
Registrar for cancellation. The Transfer Agent and the Paying Agent shall
forward to the Registrar any Securities and coupons surrendered to them for
payment, exchange or registration of transfer. The Registrar shall cancel all
Securities or coupons surrendered for payment, registration of transfer,
exchange or cancellation as follows: the Registrar will cancel all Registered
Securities and matured coupons. The Registrar also will cancel all Bearer
Securities and unmatured coupons unless the Company requests the Registrar to
hold the same for redelivery. Any Bearer Securities so held shall be considered
delivered for cancellation under Section 2.09. The Registrar shall destroy
canceled Securities and coupons unless the Company otherwise directs.

                  Unless the Bond Resolution otherwise provides, the Company may
not issue new Securities to replace Securities that the Company has paid or that
the Company has delivered to the Registrar for cancellation.

SECTION 2.15.     Defaulted Interest

                  If the Company defaults in a payment of interest on Registered
Securities, it need not pay the defaulted interest to Holders on the regular
record date. The Company may fix a special record date for determining Holders
entitled to receive defaulted interest or the Company may pay defaulted interest
in any other lawful manner.

<PAGE>
                                      -13-

                                 ARTICLE THREE

                                   REDEMPTION

SECTION 3.01.     Notices to Trustee.

                  Securities of a series that are redeemable before maturity
shall be redeemable in accordance with their terms and, unless the Bond
Resolution otherwise provides, in accordance with this Article.

                  In the case of a redemption by the Company, the Company shall
notify the Trustee of the redemption date and the principal amount of Securities
to be redeemed. The Company shall notify the Trustee at least 45 days before the
redemption date unless a shorter notice is satisfactory to the Trustee.

                  If the Company is required to redeem Securities, it may reduce
the principal amount of Securities required to be redeemed to the extent it is
permitted a credit by the terms of the Securities and it notifies the Trustee of
the amount of the credit and the basis for it. If the reduction is based on a
credit for acquired or redeemed Securities that the Company has not previously
delivered to the Registrar for cancellation, the Company shall deliver the
Securities at the same time as the notice.

SECTION 3.02.     Selection of Securities to Be Redeemed.

                  If less than all the Securities of a series, with the same
issue date, interest rate, stated maturity and other terms, are to be redeemed,
the Trustee shall select the Securities to be redeemed by a method the Trustee
considers fair and appropriate. The Trustee shall make the selection from
Securities of the series outstanding and not previously called for redemption.
The Trustee may select for redemption portions of the principal of Securities
having denominations larger than the minimum denomination for the series.
Securities and portions thereof selected for redemption shall be in amounts
equal to the minimum denomination for the series or an integral multiple
thereof. Provisions of this Indenture that apply to Securities called for
redemption also apply to portions of Securities called for redemption.

SECTION 3.03.     Notice of Redemption.

                  The election of the Company to redeem any Securities shall be
evidenced by or pursuant to a Bond Resolution. In case of any redemption at the
election of the Company of (a) less than all of the Securities of any series or
(b) all of the Securities of any series, with the same issue date, interest
rate, stated maturity and other terms, the Company shall, at least 60 days prior
to the redemption date fixed by the Company (unless a shorter notice shall be
satisfactory to the Trustee), notify the Trustee of such redemption date and of
the principal amount of Securities of such series to be redeemed.

<PAGE>
                                      -14-

                  At least 30 days but not more than 60 days before a redemption
date, the Company shall mail a notice of redemption by first-class mail to each
Holder of Registered Securities whose Securities are to be redeemed.

                  If Bearer Securities are to be redeemed, the Company shall
publish a notice of redemption in an Authorized Newspaper as provided in the
Securities.

                  A notice shall identify the Securities of the series to be
redeemed and shall state:

            (1) the redemption date;

            (2) the redemption price;

            (3) the name and address of the Paying Agent;

            (4) that Securities called for redemption, together with all
      coupons, if any, maturing after the redemption date, must be surrendered
      to the Paying Agent to collect the redemption price;

            (5) that interest on Securities called for redemption ceases to
      accrue on and after the redemption date; and

            (6) whether the redemption by the Company is mandatory or optional.

                  A redemption notice given by publication need not identify
Registered Securities to be redeemed.

                  At the Company's request, the Trustee shall give the notice of
redemption in the Company's name and at its expense.

SECTION 3.04.     Effect of Notice of Redemption.

                  Once notice of redemption is given, Securities called for
redemption become due and payable on the redemption date at the redemption price
stated in the notice. The Transfer Agent need not exchange or register the
transfer of any Security selected for redemption. The Transfer Agent need not
exchange or register the transfer of any Security for a period of 15 days before
a selection of Securities to be redeemed.

<PAGE>
                                      -15-

SECTION 3.05.     Payment of Redemption Price.

                  On or before the redemption date, the Company shall deposit
with the Paying Agent money sufficient to pay the redemption price of and
accrued interest on all Securities to be redeemed on that date.

                  When the Holder of a Security surrenders it for redemption in
accordance with the redemption notice, the Company shall pay to the Holder on
the redemption date the redemption price and accrued interest to such date,
except that:

            (1) the Company will pay any such interest (except defaulted
      interest) to Holders on the record date of Registered Securities if the
      redemption date occurs on an interest payment date; and

            (2) the Company will pay any such interest to Holders of coupons
      that mature on or before the redemption date upon surrender of such
      coupons to the Paying Agent.

                  Coupons maturing after the redemption date on a called
Security are void absent a payment default on that date. Nevertheless, if a
Holder surrenders for redemption a Bearer Security missing any such coupons, the
Company and the Trustee may deduct the face amount of such coupons from the
redemption price. If thereafter the Holder surrenders to the Paying Agent the
missing coupons, the Company will return the amount so deducted. The Company
also may waive surrender of the missing coupons if it receives an indemnity bond
satisfactory to the Company and the Trustee.

SECTION 3.06.     Securities Redeemed in Part.

                  Upon surrender of a Security that is redeemed in part, the
Company shall deliver to the Holder a new Security of the same series containing
identical terms and provisions equal in principal amount to the unredeemed
portion of the Security surrendered.

                                  ARTICLE FOUR

                                    COVENANTS

SECTION 4.01.     Payment of Securities.

(1) The Company shall duly and punctually pay the principal of (and premium, if
any) and interest on a series in accordance with the terms of the Securities for
the series, any related coupons, and this Indenture on the dates and in the
manner provided in the Securities and in this Indenture.

<PAGE>
                                      -16-

(2) Unless the Bond Resolution otherwise provides, the Company shall pay
interest on overdue principal of a series of the Securities at the rate of
interest or Yield to Maturity (in the case of a Discounted Security) borne by
such series of Securities or at such other rate as may be specified in such
Security; and it shall pay interest on overdue installments of interest at the
same rate to the extent lawful.

SECTION 4.02.     Payment of Taxes; Maintenance of Corporate Existence;
                       Maintenance of Properties.

                  The Company will:

            (1) cause to be paid and discharged all lawful taxes, assessments
      and governmental charges or levies imposed upon the Company and its
      Subsidiaries or upon the income or profits of the Company and its
      Subsidiaries before or any part thereof belonging to the Company and its
      Subsidiaries before the same shall be in default, as well as all lawful
      claims for labor, materials and supplies which, if unpaid, might become a
      lien or charge upon such property or any part thereof; provided; however,
      that neither the Company nor any of its Subsidiaries shall not be required
      to cause to be paid or discharged any such tax, assessment, charge, levy
      or claim so long as the validity or amount thereof shall be contested in
      good faith by appropriate proceedings and the nonpayment thereof does not,
      in the judgment of the Company, materially adversely affect the ability of
      the Company and its Subsidiaries to pay all obligations under this
      Indenture when due; provided further that neither the Company nor any of
      its Subsidiaries shall not be required to cause to be paid or discharged
      any such tax, assessment, charge, levy or claim if, in the judgment of the
      Company, such payment shall not be advantageous to the Company or its
      Subsidiaries in the conduct of their business and if the failure so to pay
      or discharge does not, in its judgment, materially adversely affect the
      ability of the Company to pay all obligations under this Indenture when
      due;

            (2) cause to be done all things necessary to preserve and keep in
      full force and effect the corporate existence of the Company and its
      Subsidiaries and to comply with all applicable laws; provided, however,
      that nothing in this subsection (2) shall prevent a consolidation or
      merger of the Company not prohibited by the provisions of Article 5 or any
      other provision or the Bond Resolution or supplemental indenture
      pertaining to a Series and that the Company need not maintain the
      corporate existence of any immaterial Subsidiary; and

            (3) at all times keep, maintain and preserve all the property of the
      Company and its Subsidiaries in good repair, working order and condition
      (reasonable wear and tear excepted) and from time to time make all needful
      and proper repairs, renewals, replacements, betterments and improvements
      thereto, so that the business carried on in connection therewith may be
      properly and advantageously conducted at all times; provided, however,
      that nothing in this subsection (3) shall prevent either the Company or
      any of its Subsidiaries from discontinuing the operation and maintenance
      of any such properties if such discontinuance is, in the judgment of the
      Company, desirable in the conduct of its business and not disadvantageous
      in any material respect to the ability of the Company to pay all
      obligations under this Indenture when due.

<PAGE>
                                      -17-

SECTION 4.03.     SEC Reports.

                  The Company shall file with the Trustee within 30 days after
it is required to file them with the SEC copies of the annual reports and of the
information, documents and other reports (or copies of such portions of any of
the foregoing as the SEC may by rules and regulations prescribe) which the
Company is required to file with the SEC pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934. The Company also shall comply with the other
provisions of TIA ss. 314(a).

SECTION 4.04.     Annual Review Certificate.

                  The Company shall file with the Trustee within 120 days after
the end of each fiscal year of the Company an Officers' Certificate stating:

            (1) that the signing officers have supervised a review of the
      activities of the Company and its Subsidiaries during the preceding fiscal
      year to determine whether the Company has observed and performed its
      obligations under this Indenture; and

            (2) that to the best knowledge of each officer signing such
      certificate the Company has observed and performed all of its covenants in
      this Indenture and is not in default in the observance and performance of
      any of the terms, provisions and conditions of this Indenture (or if the
      Company is in such default, specifying those defaults and the nature
      thereof of which he has knowledge).

                  Such certificate need not comply with Section 10.05.

SECTION 4.05.     Maintenance of Office or Agency.

                  The Company shall maintain the office or agency required under
Section 2.03. The Company shall give prior written notice to the Trustee of the
location, and any change in the location, of such office or agency. If at any
time the Company shall fail to maintain any such required office of agency or
shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the address of the
Trustee.

<PAGE>
                                      -18-

SECTION 4.06.     Waiver of Stay, Extension or Usury Laws.

                  The Company (to the extent that it may lawfully do so) will
not any time insist upon, plead, or in any manner whatsoever claim or take the
benefit or advantage of, any stay or extension law or any usury law or other law
that would prohibit or forgive the Company from paying all or any portion of the
principal of or interest on the Securities as contemplated herein, wherever
enacted, now or at any time hereafter in force, or which may affect the
covenants or the performances of this Indenture and (to the extent that may they
lawfully do so) the Company hereby expressly waive all benefit or advantage of
any such law, and covenant that they will suffer and permit the execution of
every such power as though no such law had been enacted.

SECTION 4.07.     Notice to Trustee of Certain Defaults.

                  The Company shall give the Trustee within 30 days written
notice of (a) any failure of the kind described in Section 6.01(3) which remains
uncured for 30 days after the Company has knowledge thereof, or (b) an event of
default described in Section 6.01(4).

SECTION 4.08.     Further Assurances to Trustee.

                  The Company will, upon request of the Trustee, execute and
deliver such further instruments and do such further acts as may reasonably be
necessary or proper to carry out more effectively the purposes of this
Indenture.

                                  ARTICLE FIVE

                                   SUCCESSORS

SECTION 5.01.     When Company May Merge, etc.

                  The Company shall not consolidate with or merge into, or
transfer all or substantially all of its assets to, any person unless:

            (1) either (a) the Company is the Surviving Person or (b) the
      Surviving Person (if other than the Company) is organized under the laws
      of the United States of America or a State thereof or the District of
      Columbia;

            (2) the Surviving Person assumes by supplemental indenture (a) all
      the obligations of the Company under and (b) the performance and
      observance if every covenant of this Indenture, the Securities and any
      other document entered into in connection therewith; and

<PAGE>
                                      -19-

            (3) immediately after giving effect to the transaction, no Default
      or Event of Default exists under this Indenture.

                  The Company shall deliver to the Trustee prior to the
consummation of the proposed transaction an Officers' Certificate to the
foregoing effect and an Opinion of Counsel stating that the proposed transaction
and such supplemental indenture comply with this Indenture.

                  The successor shall be substituted for the Company, and
thereafter all obligations of the Company under this Indenture, the Securities
and any other document entered into in connection therewith shall terminate.

                  To the extent that a Bond Resolution or supplemental indenture
pertaining to any Series provides for different provisions relating to the
subject matter of this Article 5, the provisions in such Resolution or
supplemental indenture shall govern for purposes of such Series.

                                  ARTICLE SIX

                              DEFAULTS AND REMEDIES

SECTION 6.01.     Events of Default.

                  An "Event of Default" with respect to a series of the
Securities occurs if:

            (1) the Company defaults in the payment of interest on a Security of
      such series when the same becomes due and payable and the default
      continues for a period of 30 days;

            (2) the Company defaults in the payment of the principal of a
      Security of such series when the same becomes due and payable at maturity,
      upon redemption or otherwise, or in the making of any sinking fund
      payment, if any, required by the terms of such series;

            (3) the Company fails to comply with any of its other covenants,
      conditions or agreements in the Securities of such series or this
      Indenture and the default continues for the period and after the notice
      specified below;

            (4) the Company, pursuant to or within the meaning of any Bankruptcy
      Law:

                        (A) commences a voluntary case,

<PAGE>
                                      -20-

                        (B) consents to the entry of an order for relief against
            it in an involuntary case,

                        (C) consents to the appointment of a Custodian of it or
            for all or substantially all of its property, or

                        (D) makes a general assignment for the benefit of its
            creditors;

            (5) a court of competent jurisdiction enters an order or decree
      under any Bankruptcy Law that:

                        (A) is for relief against the Company in an involuntary
            case,

                        (B) appoints a Custodian of the Company for all or
            substantially all of its property, or

                        (C) orders the liquidation of the Company, and the order
            or decree remains unstayed and in effect for 90 days;

            (6) a default under any bond, debenture, note or other evidence of
      indebtedness for money borrowed by the Company (including a default with
      respect to Securities of any series other than that series) or under any
      mortgage, indenture or instrument under which there may be issued or by
      which there may be secured or evidenced any indebtedness for money
      borrowed by the Company (including this Indenture), whether such
      indebtedness now exists or shall hereafter be created, which default shall
      involve an amount in excess of $10,000,000, and shall constitute a failure
      to pay such indebtedness when due and payable after the expiration of any
      applicable grace period with respect thereto and shall have resulted in
      such indebtedness becoming or being declared due and payable prior to the
      date on which it would otherwise have become due and payable, without such
      indebtedness having been discharged, or such acceleration having been
      rescinded or annulled within a period of 30 days after there shall have
      been given, by registered or certified mail, to the Company by the Trustee
      or to the Company and the Trustee by the Holders of at least 25% in
      principal amount of the outstanding Securities of that series a written
      notice specifying such default and requiring the Company to cause such
      indebtedness to be discharged or cause such acceleration to be rescinded
      or annulled and stating that such notice is a "Notice of Default"
      hereunder;

            (7) a final judgment or judgments in an amount of $10,000,000 or
      more, individually or in the aggregate, for the payment of money having
      been entered by a court or courts of competent jurisdiction against the
      Company and such judgment or judgments is not satisfied, stayed, annulled
      or rescinded within 60 days of being entered; or

<PAGE>
                                      -21-

            (8) any other Event of Default provided with respect to Securities
      of that series.

                  The term "Bankruptcy Law" means Title 11, U.S. Code or any
similar Federal or State law for the relief of debtors. The term "Custodian"
means any receiver, trustee, assignee, liquidator or similar official under any
Bankruptcy Law.

                  A default under clause (3) is not an Event of Default with
respect to a series of the Securities until the Trustee or the Holders of at
least 25% in principal amount of the outstanding Securities of such series
notify the Company of the default and the Company does not cure the default
within 60 days after receipt of the notice. The notice must specify the default,
demand that it be remedied and state that the notice is a "Notice of Default."

SECTION 6.02.     Acceleration.

                  If an Event of Default (other than an Event of Default
resulting from subclause (4) or (5) above), with respect to a series of the
Securities occurs and is continuing, the Trustee by notice to the Company, or
the Holders of at least 25% in principal amount of the outstanding Securities of
such series by notice to the Company and the Trustee, may declare the principal
and accrued interest on all the Securities of such series to be due and payable
immediately. Upon such declaration, such principal (or, if the Securities of a
series are Discounted Securities, such portion of the principal due and payable
immediately. If an Event of Default with respect to the Company specified in
subclause (4) or (5) above occurs, all amounts due and payable on the Securities
of such Series will ipso facto become and be immediately due and payable without
any declaration, notice or other act on the part of the Trustee and the Company
or any Holder. The Holders of a majority in principal amount of the outstanding
Securities of such series by notice to the Trustee may rescind or annul such
acceleration and its consequences if all existing Events of Default with respect
to such series have been cured or waived pursuant to Section 6.04 and if the
rescission would not conflict with any judgment or decree.

SECTION 6.03.     Other Remedies.

(1) If an Event of Default with respect to a series of the Securities occurs and
is continuing, the Trustee may pursue any available remedy by proceeding at law
or in equity to collect the payment of principal or interest on the Securities
of such series or to enforce the performance of any provision of the Securities
of such series or this Indenture, and may take any necessary action required of
it as Trustee to settle, compromise, adjust or otherwise conclude any
proceedings to which it is a party.

(2) The Trustee may maintain a proceeding even if it does not possess any of the
Securities or does not produce any of them in the proceeding. A delay or
omission by the Trustee or any Securityholder in exercising any right or remedy
accruing upon an Event of Default shall not impair the right or remedy or
constitute a waiver of or acquiescence in the Event of Default. No remedy is
exclusive of any other remedy. All available remedies are cumulative.

<PAGE>
                                      -22-

SECTION 6.04.     Waiver of Past Defaults.

                  Subject to Section 9.02, the Holders of a majority in
principal amount of the outstanding Securities of a series by notice to the
Trustee may waive an existing Default with respect to such series and its
consequences. When a Default is waived with respect to a series of the
Securities, it is cured and stops continuing with respect to such series.

SECTION 6.05.     Control by Majority.

                  The Holders of a majority in principal amount of the
outstanding Securities of a series may direct the time, method and place of
conducting any proceeding with respect to such series for any remedy available
to the Trustee or exercising any trust or power conferred on it. The Trustee,
however, may refuse to follow any direction that conflicts with law or this
Indenture, that is unduly prejudicial to the rights of another Holder of a
Security of such series, that would involve the Trustee in personal liability,
or if the Trustee does not have sufficient indemnification against any loss or
expense.

SECTION 6.06.     Limitations on Suits.

            (1) A Holder of a Security of a series may not pursue any remedy
      with respect to this Indenture or the Securities of such series unless:

                        (A) the Holder gives to the Trustee written notice of a
            continuing Event of Default with respect to such series;

                        (B) the Holders of at least 25% in principal amount of
            the outstanding Securities of such series make a written request to
            the Trustee to pursue the remedy with respect to such series;

                        (C) such Holder or Holders offer to the Trustee
            indemnity satisfactory to the Trustee against any loss, liability or
            expense; and

                        (D) the Trustee does not comply with the request within
            60 days after receipt of the request and the offer of indemnity.

(2)      a Securityholder may not use this Indenture to prejudice the rights of
         another Securityholder of the same series or to obtain a preference or
         priority over the other Securityholder of the same series.

<PAGE>
                                      -23-

SECTION 6.07.     Rights of Holders to Receive Payment.

                  Notwithstanding any other provision of this Indenture, the
right of a Holder of a Security to receive payment of principal and interest on
such Security, on or after the respective due dates expressed in such Security,
or to bring suit for the enforcement of any such payment on or after such
respective dates, shall be absolute and unconditional and not be impaired or
affected without the consent of such Holder.

SECTION 6.08.     Collection Suit by Trustee.

                  If an Event of Default with respect to a series of the
Securities in payment of interest or principal or premium, if any, specified in
Section 6.01(1) and (2) occurs and is continuing, the Company will, upon demand
of the Trustee, pay to it, for the benefit of the Holders of such Securities,
the whole amount then due and payable on such Securities, and the Trustee may
obtain judgment in its own name and as trustee of an express trust and enforce
the same against the Company for the whole amount of principal and interest
remaining unpaid with respect to such series of the Securities.

SECTION 6.09.     Trustee May File Proofs of Claims.

                  The Trustee may, and is appointed the true and lawful
attorney-in-fact for the Holders of the Securities to, (a) file such proofs of
claim and other papers or documents as may be necessary or advisable in order to
have the claims of the Trustee and the Securityholders allowed in any judicial
proceedings relative to the Company, its creditors or its property, (b) collect
and receive any monies or property payable or deliverable on account of such
claims as trustee of a constructive trust or as holder of an equitable lien
against the Company or regarding its assets, and (c) distribute the same after
deduction of its charges and expenses to the extent that such charges and
expenses are not paid out of the estate in any such proceeding.

SECTION 6.10.     Priorities.

            (1) If the Trustee collects any money pursuant to this Article with
respect to a series of the Securities, it shall pay out the money in the
following order:

            First: to the Trustee for amounts due under Section 7.07;

            Second: to Holders of the Securities of such series for amounts due
      and unpaid on the Securities of such series for principal (and premium, if
      any) and interest, ratably, without preference or priority of any kind
      according to the amounts due and payable on the Securities of such series
      for principal and interest, respectively; and

                  Third:  the balance, if any, to the Company.

<PAGE>
                                      -24-

            (2) The Trustee may fix a record date and payment date for any
payment to Holders of Securities of the relevant series.

SECTION 6.11.     Undertaking for Costs.

                  All parties to this Indenture agree, and each Holder of any
Security by his acceptance thereof shall be deemed to have agreed, that in any
suit for the enforcement of any right or remedy under this Indenture or in any
suit against the Trustee for any action taken or omitted by it as Trustee, a
court in its discretion may require the filing by any party litigant in the suit
of an undertaking to pay the costs of the suit, and the court in its discretion
may assess reasonable costs, including reasonable attorneys' fees, against any
party litigant in the suit, having due regard to the merits and good faith of
the claims or defenses made by the party litigant. This Section does not apply
to a suit by the Trustee, a suit by a Holder pursuant to Section 6.07, or a suit
by a Holder or Holders of more than 10% in principal amount of the outstanding
Securities of a series.

SECTION 6.12.     Restoration of Rights and Remedies.

                  If the Trustee or any Holder of a Security has instituted any
proceeding to enforce any right or remedy under this Indenture and such
proceeding has been discontinued or abandoned for any reason, or has been
determined adversely to the Trustee or to such Holder, then and in every such
case, subject to any determination in such proceeding, the Company, the Trustee
and the Holders of Securities shall be restored severally and respectively to
their former positions hereunder and thereafter all rights and remedies of the
Trustee and the Holders shall continue as though no such proceeding had been
instituted.

SECTION 6.13.     Rights and Remedies Cumulative.

                  No right or remedy herein conferred upon or reserved to the
Trustee or to the Holders of Securities is intended to be exclusive of any other
right or remedy, and every right and remedy shall, to the extent permitted by
law, be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The
assertion or employment of any right or remedy hereunder, or otherwise, shall
not prevent the concurrent assertion or employment of any other appropriate
right or remedy.

SECTION 6.14.     Delay or Omission Not Waiver.

                  No delay or omission of the Trustee or of any Holder of any
Security to exercise any right or remedy accruing upon any Event of Default
shall impair any such right or remedy or constitute a waiver of any such Event
of Default or an acquiescence therein. Every right and remedy given by this
Article or by law to the Trustee or to the Holders of Securities may be
exercised from time to time, and as often as may be deemed expedient, by the
Trustee or by the Holders of Securities as the case may be.

<PAGE>
                                      -25-

SECTION 6.15.     Waiver of Stay, Extension or Usury Laws.

                  The Company covenants (to the extent that it may lawfully do
so) that it will not at any time insist upon, or plead, or in any manner
whatsoever claim or take the benefit or advantage of, any stay, extension or
usury law wherever enacted, now or at any time hereafter in force, which may
affect the covenants or the performance of this Indenture; and the Company (to
the extent that it may lawfully do so) hereby expressly waives all benefit or
advantage of any such law, but will suffer and permit the execution of every
such power as though no such law had been enacted.

                                  ARTICLE SEVEN

                                     TRUSTEE

SECTION 7.01.     Duties of Trustee.

            (1) If an Event of Default actually known to the Trustee has
      occurred and is continuing, the Trustee shall exercise such of the rights
      and powers vested in it by this Indenture and use the same degree of care
      and skill in their exercise as a prudent person would exercise or use
      under the circumstances in the conduct of his own affairs.

            (2) Except during the continuance of an Event of Default actually
      known to the Trustee:

                        (A) The Trustee need perform only those duties as are
            specifically set forth herein and no others and no implied covenants
            or obligations shall be read into this Indenture against the
            Trustee.

                        (B) In the absence of bad faith on its part, the Trustee
            may conclusively rely, as to the truth of the statements and the
            correctness of the opinions expressed therein, upon certificates or
            opinions and such other documents delivered to it pursuant to
            Section 10.04 hereof furnished to the Trustee and conforming to the
            requirements of this Indenture. However, the Trustee shall examine
            the certificates and opinions to determine whether or not they
            conform to the requirements of this Indenture.

            (3) The Trustee may not be relieved from liability for its own
      negligent action, its own negligent failure to act, or its own willful
      misconduct, except that:

                        (A) This paragraph does not limit the effect of
            paragraph (2) of this Section 7.01.

<PAGE>
                                      -26-

                        (B) The Trustee shall not be liable for any error of
            judgment made in good faith by a Trust Officer, unless it is proved
            that the Trustee was negligent in ascertaining the pertinent facts.

                        (C) The Trustee shall not be liable with respect to any
            action it takes or omits to take in good faith in accordance with a
            direction received by it pursuant to Section 6.05.

            (4) No provision of this Indenture shall require the Trustee to
      expend or risk its own funds or otherwise incur any financial liability in
      the performance of any of its duties hereunder or to take or omit to take
      any action under this Indenture or take any action at the request or
      direction of Holders if it shall have reasonable grounds for believing
      that repayment of such funds is not assured to it or it does not receive
      an indemnity satisfactory to it in its sole discretion against such risk,
      liability, loss, fee or expense which might be incurred by it in
      compliance with such request or direction.

            (5) Every provision of this Indenture that in any way relates to the
      Trustee is subject to paragraphs (1), (2), (3) and (4) of this Section
      7.01.

            (6) The Trustee shall not be liable for interest on any money
      received by it except as the Trustee may agree with the Company. Money
      held in trust by the Trustee need not be segregated from other funds
      except to the extent required by law.

SECTION 7.02.     Rights of Trustee.

                  Subject to Section 7.01:

            (1) The Trustee may rely on any document believed by it to be
      genuine and to have been signed or presented by the proper person. The
      Trustee need not investigate any fact or matter stated in the document.

            (2) Before the Trustee acts or refrains from acting, it may require
      an Officers' Certificate or an Opinion of Counsel. The Trustee shall not
      be liable for any action it takes or omits to take in good faith in
      reliance on the Certificate or Opinion.

            (3) The Trustee may act through agents and shall not be responsible
      for the misconduct or negligence of any agent appointed with due care.

            (4) The Trustee shall not be liable for any action it takes or omits
      to take in good faith which it believes to be authorized or within its
      rights or powers.

            (5) Any Agent shall have the same rights and be protected to the
      same extent as if it were Trustee.

<PAGE>
                                      -27-

SECTION 7.03.     Individual Rights of Trustee.

                  The Trustee in its individual or any other capacity may become
the owner or pledgee of Securities or coupons and may otherwise deal with the
Company or an Affiliate with the same rights it would have if it were not
Trustee. Any Agent may do the same with like rights.

SECTION 7.04.     Trustee's Disclaimer.

                  The Trustee makes no representation as to the validity or
adequacy of this Indenture or the Securities or any coupons; it shall not be
accountable for the Company's use of the proceeds from the Securities; it shall
not be responsible for any statement in the Securities or any coupons; it shall
not be responsible for any over issue; it shall not be responsible for
determining whether the form and terms of any Securities or coupons were
established in conformity with this Indenture; and it shall not be responsible
for determining whether any Securities were issued in accordance with this
Indenture.

SECTION 7.05.     Notice of Defaults.

                  If a Default occurs and is continuing on a series and if it is
known to the Trustee, the Trustee shall mail a notice of the Default within 90
days after it occurs to Holders of Registered Securities of the series. Except
in the case of a Default in payment on a series, the Trustee may withhold the
notice if and so long as a committee of its Trust Officers in good faith
determines that withholding the notice is in the interest of Holders of the
series. The Trustee shall withhold notice of a Default described in Section
6.01(3) until at least 90 days after it occurs.

SECTION 7.06.     Reports by Trustee to Holders.

                  Any report required by TIA ss. 313(a) to be mailed to
Securityholders shall be mailed by the Trustee on or before June 30 of each
year. The Trustee also shall comply with TIA ss. 313(b), (c) and (d).

                  A copy of each report at the time of its mailing to
Securityholders shall be filed with the SEC and each stock exchange on which any
Securities are listed. The Company shall notify the Trustee when any Securities
are listed on a stock exchange.

SECTION 7.07.     Compensation and Indemnity.

                  The Company shall pay to the Trustee from time to time
reasonable compensation for its services. The Trustee's compensation shall not
be limited by any law on compensation of a trustee of an express trust. The
Company shall reimburse the Trustee upon request for all reasonable
out-of-pocket expenses incurred by it. Such expenses shall include the
reasonable compensation and expenses of the Trustee's agents and counsel.

<PAGE>
                                      -28-

                  The Company shall indemnify the Trustee against any loss or
liability incurred by it. The Trustee shall notify the Company promptly of any
claim for which it may seek indemnity. The Company shall defend the claim and
the Trustee shall cooperate in the defense. The Trustee may have separate
counsel and the Company shall pay the reasonable fees and expenses of such
counsel. The Company need not pay for any settlement made without its prior
written consent, which consent shall not be unreasonably withheld.

                  The Company need not reimburse any expense or indemnify
against any loss or liability incurred by the Trustee through negligence or bad
faith.

                  To secure the Company's payment obligations in this Section,
the Trustee shall have a lien prior to the Securities and any coupons on all
money or property held or collected by the Trustee, except that held in trust to
pay principal or interest on particular securities.

SECTION 7.08.     Replacement of Trustee.

                  A resignation or removal of the Trustee and appointment of a
successor Trustee shall become effective only upon the successor Trustee's
acceptance of appointment as provided in this Section 7.08.

                  The Trustee may resign by so notifying the Company. The
Holders of a majority in principal amount of the Securities may remove the
Trustee by so notifying the Trustee and may appoint a successor Trustee with the
Company's consent.

                  The Company may remove the Trustee if:

            (1) the Trustee fails to comply with TIAss.310(a) orss.310(b) or
      with Section 7.10;

            (2) the Trustee is adjudged a bankrupt or an insolvent;

            (3) a Custodian or other public officer takes charge of the Trustee
      or its property;

            (4) the Trustee becomes incapable of acting; or

            (5) an event of the kind described in Section 6.01(4) or (5) occurs
      with respect to the Trustee.

<PAGE>
                                      -29-

                  The Company also may remove the Trustee with or without cause
if the Company so notifies the Trustee three months in advance and if no Default
occurs during the three-month period.

                  If the Trustee resigns or is removed or if a vacancy exists in
the office of Trustee for any reason, the Company shall promptly appoint a
successor Trustee.

                  If a successor Trustee does not take office within 30 days
after the retiring Trustee resigns or is removed, the retiring Trustee, the
Company or the Holders of a majority in principal amount of the Securities may
petition any court of competent jurisdiction for the appointment of a successor
Trustee.

                  If the Trustee fails to comply with TIA ss. 310(a) or ss.
310(b) or with Section 7.10, any Securityholder may petition any court of
competent jurisdiction for the removal of the Trustee and the appointment of a
successor Trustee.

                  A successor Trustee shall deliver a written acceptance of its
appointment to the retiring Trustee and to the Company. Thereupon the
resignation or removal of the retiring Trustee shall become effective, and the
successor Trustee shall have all the rights, powers and duties of the Trustee
under this Indenture. The successor Trustee shall mail a notice of its
succession to Holders of Registered Securities. The retiring Trustee shall
promptly transfer all property held by it as Trustee to the successor Trustee,
subject to the lien provided for in Section 7.07.

SECTION 7.09.     Successor Trustee by Merger, etc.

                  If the Trustee consolidates, merges or converts into, or
transfers all or substantially all of its corporate trust business to, another
corporation, the successor corporation without any further act shall be the
successor Trustee.

SECTION 7.10.     Eligibility; Disqualification.

                  This Indenture shall always have a Trustee which shall be
eligible to act as Trustee under TIA ss.ss. 310(a)(1) and 310(a)(2). The Trustee
shall have a combined capital and surplus of at least $100,000,000 as set forth
in its most recent published annual report of condition. If the Trustee has or
shall acquire any "conflicting interest" within the meaning of TIA ss. 310(b),
the Trustee and the Company shall comply with the provisions of TIA ss. 310(b).
If at any time the Trustee shall cease to be eligible in accordance with the
provisions of this Section 7.10, the Trustee shall resign immediately in the
manner and with the effect hereinafter specified in this Article.

<PAGE>
                                      -30-

SECTION 7.11.     Preferential Collection of Claims Against Company.

                  The Trustee shall comply with TIA ss. 311(a), excluding any
creditor relationship listed in TIA ss. 311(b). A Trustee who has resigned or
been removed shall be subject to TIA ss. 311(a) to the extent indicated therein.

                                 ARTICLE EIGHT

                             DISCHARGE OF INDENTURE

SECTION 8.01.     Defeasance.

                  Securities of a series may be defeased in accordance with
their terms and, unless the Bond Resolution otherwise provides, in accordance
with this Article.

                  The Company at any time may terminate as to a series all of
its obligations under this Indenture, the Securities of the series and any
related coupons ("legal defeasance option"). The Company at any time may
terminate as to a series its obligations under Section 4.03 provided that none
of its obligations in the Sections set forth in the immediately succeeding
sentence may be terminated ("covenant defeasance option"). However, in the case
of the legal defeasance option, the Company's obligations in Sections 2.03,
2.04, 2.05, 2.06, 2.07, 2.08, 7.07 and 7.08 shall survive until the Securities
of the series are no longer outstanding; thereafter the Company's obligations in
Section 7.07 shall survive.

                  The Company may exercise its legal defeasance option
notwithstanding its prior exercise of its covenant defeasance option. If the
Company exercises its legal defeasance option, a series may not be accelerated
because of an Event of Default. If the Company exercises its covenant defeasance
option, a series may not be accelerated by reference to Section 4.03.

                  The Trustee upon request shall acknowledge in writing the
discharge of those obligations that the Company terminates.

SECTION 8.02.     Conditions to Defeasance.

                  The Company may exercise as to a series its legal defeasance
option or its covenant defeasance option if:

            (1) the Company irrevocably deposits in trust with the Trustee or
      another trustee money or U.S. Government Obligations;

<PAGE>
                                      -31-

            (2) the Company delivers to the Trustee a certificate from a
      nationally recognized firm of independent accountants expressing their
      opinion that the payments of principal and interest when due on the
      deposited U.S. Government Obligations without reinvestment plus any
      deposited money without investment will provide cash at such times and in
      such amounts as will be sufficient to pay principal and interest when due
      on all the Securities of the series to maturity or redemption, as the case
      may be;

            (3) immediately after the deposit no Default exists;

            (4) the deposit does not constitute a default under any other
      agreement binding on the Company;

            (5) the deposit does not cause the Trustee to have a conflicting
      interest under TIAss. 310(a) orss. 310(b) as to another series;

            (6) the Company delivers to the Trustee an Opinion of Counsel to the
      effect that Holders of the series will not recognize income, gain or loss
      for Federal income tax purposes as a result of the defeasance and, in the
      case of legal defeasance, such opinion must be based on a U.S. Internal
      Revenue Service ruling or a change in U.S. Federal income tax law;

            (7) the Company delivers to the Trustee an Opinion of Counsel to the
      effect that the trust resulting from the deposit does not constitute, or
      is qualified as, a regulated investment company under the Investment
      Company Act of 1940; and

            (8) 91 days pass after the deposit is made and during the 91-day
      period no Default specified in Section 6.01(4) or (5) occurs that is
      continuing at the end of the period.

                  Before or after a deposit the Company may make arrangements
satisfactory to the Trustee for the redemption of Securities at a future date in
accordance with Article 3.

                  "U.S. Government Obligations" means direct obligations of the
United States which have the full faith and credit of the United States pledged
for payment and which are not callable at the issuer's option, or certificates
representing an ownership interest in such obligations.

SECTION 8.03.     Application of Trust Money.

                  The Trustee shall hold in trust money or U.S. Government
Obligations deposited with it pursuant to Section 8.02. It shall apply the
deposited money and the money from U.S. Government Obligations through the
Paying Agent and in accordance with this Indenture to the payment of principal
and interest on Securities of the defeased series.

<PAGE>
                                      -32-

SECTION 8.04.     Repayment to Company.

                  The Trustee and the Paying Agent shall promptly turn over to
the Company upon request any excess money or securities held by them at any
time.

                  The Trustee and the Paying Agent shall pay to the Company upon
request any money held by them for the payment of principal or interest that
remains unclaimed for two years. After payment to the Company, Securityholders
entitled to the money must look to the Company for payment as unsecured general
creditors unless an abandoned property law designates another person.

                                  ARTICLE NINE

                                   AMENDMENTS

SECTION 9.01.     Without Consent of Holders.

                  The Company and the Trustee may amend this Indenture, the
Securities or any coupons without the consent of any Securityholder:

            (1) to cure any ambiguity, omission, defect or inconsistency;

            (2) to comply with Article 5;

            (3) to provide that specific provisions of this Indenture shall not
      apply to a series not previously issued;

            (4) to create a series and establish its terms;

            (5) to provide for a separate Trustee for one or more series; or

            (6) to make any change that does not materially adversely affect the
      rights of any Securityholder.

SECTION 9.02.     With Consent of Holders.

                  Unless the Bond Resolution otherwise provides, the Company and
the Trustee may amend this Indenture, the Securities and any coupons with the
written consent of the Holders of a majority in principal amount of the
Securities of all series affected by the amendment voting as one class. However,
without the consent of each Securityholder affected, an amendment under this
Section 9.02 may not:

            (1) reduce the amount of Securities whose Holders must consent to an
      amendment;

<PAGE>
                                      -33-

            (2) reduce the interest on or change the time for payment of
      interest on any Security;

            (3) change the fixed maturity of any Security;

            (4) reduce the principal of any non-Discounted Security or reduce
      the amount of principal of any Discounted Security that would be due upon
      an acceleration thereof;

            (5) change the currency in which principal or interest on a Security
      is payable;

            (6) make any change in Section 6.04 or this Section 9.02, except to
      increase the amount of Securities whose Holders must consent to an
      amendment or waiver or to provide that other provisions of this Indenture
      cannot be amended or waived without the consent of each Securityholder
      affected thereby; or

            (7) impair the right of any Securityholder to sue for payment under
      this Indenture, the Securities or any coupon.

                  An amendment of a provision included solely for the benefit of
one or more series does not affect Securityholders of any other series.

                  Securityholders need not consent to the exact text of a
proposed amendment or waiver; it is sufficient if they consent to the substance
thereof.

SECTION 9.03.     Compliance with Trust Indenture Act.

                  Every amendment pursuant to Section 9.01 or 9.02 shall be set
forth in a supplemental indenture that complies with the TIA as then in effect.

                  If a provision of the TIA requires or permits a provision of
this Indenture and the TIA provision is amended, then the Indenture provision
shall be automatically amended to like effect.

SECTION 9.04.     Effect of Consents.

                  An amendment or waiver becomes effective in accordance with
its terms and thereafter binds every Securityholder entitled to consent to it.

                  A consent to an amendment or waiver by a Holder of a Security
is a continuing consent by the Holder and every subsequent Holder of a Security
that evidences the same debt as the consenting Holder's Security. Any Holder or
subsequent Holder may revoke the consent as to his Security if the Trustee
receives notice of the revocation before the amendment or waiver becomes
effective.

<PAGE>
                                      -34-

                  The Company may fix a record date for the determination of
Holders of Registered Securities entitled to give a consent. The record date
shall not be less than 10 nor more than 60 days prior to the first written
solicitation of Securityholders.

SECTION 9.05.     Notation on or Exchange of Securities.

                  The Company or the Trustee may place an appropriate notation
about an amendment or waiver on any Security thereafter authenticated. The
Company may issue in exchange for affected Securities new Securities that
reflect the amendment or waiver.

                                   ARTICLE TEN

                                  MISCELLANEOUS

SECTION 10.01.    Trust Indenture Act.

                  The provisions of TIA ss.ss. 310 through 317 that impose
duties on any person (including the provisions automatically deemed included
herein unless expressly excluded by this Indenture) are a part of and govern
this Indenture, whether or not physically contained herein.

                  If any provision of this Indenture limits, qualifies or
conflicts with another provision which is required to be included in this
Indenture by the TIA, the required provision shall control.

SECTION 10.02.    Notices

                  Any notice by one party to another is duly given if in writing
and delivered in person, sent by facsimile transmission confirmed by mail or
mailed by first-class mail to the other's address shown below:

                           Company:      General Cable Corporation
                                         4 Tesseneer Drive
                                         Highland Heights, Kentucky 41076
                                         Attention: General Counsel

                           Trustee:      ______________________
                                         ______________________
                                         ______________________
                                         ______________________
                                         Attention:  Corporate Trust Department
<PAGE>
                                      -35-

                  A party, by notice to the other parties, may designate
additional or different addresses for subsequent notices.

                  Any notice mailed to a Securityholder shall be mailed to his
address shown on the register kept by the Transfer Agent or on the Bearer
Securities List referred to in Section 2.06. Failure to mail a notice to a
Securityholder or any defect in a notice mailed to a Securityholder shall not
affect the sufficiency of the notice mailed to other Securityholders or the
sufficiency of any published notice.

                  If a notice is mailed in the manner provided above within the
time prescribed, it is duly given, whether or not the addressee receives it.

                  If the Company mails a notice to Securityholders, it shall
mail a copy to the Trustee and each Agent at the same time.

                  If in the Company's opinion it is impractical to mail a notice
required to be mailed or to publish a notice required to be published, the
Company may give such substitute notice as the Trustee approves. Failure to
publish a notice as required or any defect in it shall not affect the
sufficiency of any mailed notice.

                  All notices shall be in the English language, except that any
published notice may be in an official language of the country of publication.

                  A "notice" includes any communication required by this
Indenture.

SECTION 10.03.    Communications by Holders with Other Holders.

                  Securityholders may communicate pursuant to TIA ss. 312(b)
with other Securityholders with respect to their rights under this Indenture or
the Securities. The Company, the Trustee, the Registrar and any other person
shall have the protection of TIA ss. 312(c).

SECTION 10.04.    Certificate and Opinion as to Conditions Precedent.

                  Upon any request or application by the Company to the Trustee
to take any action under this Indenture, the Company shall if so requested
furnish to the Trustee:

            (1) an Officers' Certificate stating that, in the opinion of the
      signers, all conditions precedent, if any, provided for in this Indenture
      relating to the proposed action have been complied with; and

<PAGE>
                                      -36-

            (2) an Opinion of Counsel stating that, in the opinion of such
      counsel, all such conditions precedent have been complied with.

SECTION 10.05.    Statements Required in Certificate or Opinion.

                  Each certificate or opinion with respect to compliance with a
condition or covenant provided for in this Indenture shall include:

            (1) a statement that the person making such certificate or opinion
      has read such covenant or condition;

            (2) a brief statement as to the nature and scope of the examination
      or investigation upon which the statements or opinions contained in such
      certificate or opinion are based;

            (3) a statement that, in the opinion of such person, he has made
      such examination or investigation as is necessary to enable him to express
      an informed opinion as to whether or not such covenant or condition has
      been complied with; and

            (4) a statement as to whether or not, in the opinion of such person,
      such condition or covenant has been complied with.

SECTION 10.06.    Rules by Company and Agents.

                  The Company may make reasonable rules for action by or a
meeting of Securityholders. An Agent may make reasonable rules and set
reasonable requirements for its functions.

SECTION 10.07.    Legal Holidays.

                  A "Legal Holiday" is a Saturday, a Sunday or a day on which
banking institutions are not required to be open. If a payment date is a Legal
Holiday at a place of payment, unless the Bond Resolution otherwise provides,
payment may be made at that place on the next succeeding day that is not a Legal
Holiday, and no interest shall accrue for the intervening period.

SECTION 10.08.    No Recourse Against Others.

                  All liability described in the Securities of any director,
officer, employee or stockholder, as such, of the Company is waived and
released.

<PAGE>
                                      -37-

SECTION 10.09.    Duplicate Originals.

                  The parties may sign any number of copies of this Indenture.
One signed copy is enough to prove this Indenture.

SECTION 10.10.    Governing Law.

                  The laws of the State of New York shall govern this Indenture,
the Securities and any coupons, unless federal law governs without regard to
principles of conflicts of laws.

<PAGE>

                                   SIGNATURES

Dated:                             GENERAL CABLE CORPORATION

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

Dated:                                                                         ,
                                       ----------------------------------------

                                       as Trustee

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

<PAGE>

                                                                       EXHIBIT A

                          A Form of Registered Security

No.                                                                    $

                            GENERAL CABLE CORPORATION
                               [Title of Security]

General Cable Corporation
promises to pay to

or registered assigns
the principal sum of                               Dollars on             , 20__

Interest Payment Dates:
          Record Dates:

                                                   Dated:

                                                   GENERAL CABLE CORPORATION
Transfer Agent and Paying Agent

                                            (SEAL)

Authenticated:                                     Name:
                                                   Title:

Registrar, by

Authorized Signatory                               Name:
                                                   Title:

                                      A-1
<PAGE>

                            GENERAL CABLE CORPORATION
                               [Title of Security]

1.    Interest.(1)

               General Cable Corporation ("Company"), a Delaware corporation,
               promises to pay interest on the principal amount of this
               Security at the rate per annum shown above. The Company will
               pay interest semiannually on and of each year commencing ,
               20__. Interest on the Securities will accrue from the most
               recent date to which interest has been paid or, if no interest
               has been paid, from , 20__. Interest will be computed on the
               basis of a 360-day year of twelve 30-day months.

2.    Method of Payment.(2)

               The Company will pay interest on the Securities to the persons
               who are registered holders of Securities at the close of
               business on the record date for the next interest payment
               date, except as otherwise provided in the Indenture. Holders
               must surrender Securities to a Paying Agent to collect
               principal payments. The Company will pay principal and
               interest in money of the United States that at the time of
               payment is legal tender for payment of public and private
               debts. The Company may pay principal and interest by check
               payable in such money. It may mail an interest check to a
               holder's registered address.

3.    Bond Agents.

               Initially, , will act as Paying Agent, Transfer Agent and
               Registrar. The Company may change any Paying Agent, Transfer
               Agent or Registrar without notice. The Company or any
               Affiliate may act in any such capacity. Subject to certain
               conditions, the Company may change the Trustee.

4.    Indenture.

               The Company issued the securities of this series
               ("Securities") under an Indenture dated as of , 20__
               ("Indenture") between the Company and ("Trustee"). The
               terms of the Securities include those stated in the
               Indenture and in the Bond Resolution creating the
               Securities and those made part of the Indenture by the
               Trust Indenture Act of 1939 (15 U.S. Code ss.ss.
               77aaa-77bbbb). Securityholders are referred to the
               Indenture, the Bond Resolution and the Act for a
               statement of such terms.

                                      A-2
<PAGE>
5.    Optional Redemption.(3)

               On or after 20__, the Company may redeem all the Securities at
               any time or some of them from time to time at the following
               redemption prices (expressed in percentages of principal
               amount), plus accrued interest to the redemption date.

               If redeemed during the 12-month period beginning,

                Year         Percentage        Year         Percentage
               20__
               20__
               20__
               20__

               and thereafter at 100%.

6.    Mandatory Redemption.(4)

               The Company will redeem $ principal amount of Securities
               on and on each thereafter through , 20__ at a redemption
               price of 100% of principal amount, plus accrued interest
               to the redemption date.(5) The Company may reduce the
               principal amount of Securities to be redeemed pursuant
               to this paragraph by subtracting 100% of the principal
               amount (excluding premium) of any Securities (i) that
               the Company has acquired or that the Company has
               redeemed other than pursuant to this paragraph and (ii)
               that the Company has delivered to the Registrar for
               cancellation. The Company may subtract the same Security
               only once.

7.    Additional Optional Redemption.(6)

               In addition to redemptions pursuant to the above paragraph(s),
               the Company may redeem not more than $ principal amount of
               Securities on and on each thereafter through , 20__ at a
               redemption price of 100% of principal amount, plus accrued
               interest to the redemption date.

8.    Notice of Redemption.(7)

               Notice of redemption will be mailed at least 30 days but not
               more than 60 days before the redemption date to each holder of
               Securities to be redeemed at his registered address.

                                      A-3
<PAGE>

9.    Denominations, Transfer, Exchange.

               The Securities are in registered form without coupons in
               denominations of $1,000(8) and whole multiples of $1,000. The
               transfer of Securities may be registered and Securities may be
               exchanged as provided in the Indenture. The Transfer Agent may
               require a holder, among other things, to furnish appropriate
               endorsements and transfer documents and to pay any taxes and
               fees required by law or the Indenture. The Transfer Agent need
               not exchange or register the transfer of any Security or
               portion of a Security selected for redemption. Also, it need
               not exchange or register the transfer of any Securities for a
               period of 15 days before a selection of Securities to be
               redeemed.

10.   Persons Deemed Owners.

               The registered holder of a Security may be treated as its
               owner for all purposes.

11.   Amendments and Waivers.

               Subject to certain exceptions, the Indenture or the Securities
               may be amended with the consent of the holders of a majority
               in principal amount of the securities of all series affected
               by the amendment.(9) Subject to certain exceptions, a default on
               a series may be waived with the consent of the holders of a
               majority in principal amount of the series.

               Without the consent of any Securityholder, the Indenture or
               the Securities may be amended, among other things, to cure any
               ambiguity, omission, defect or inconsistency; to provide for
               assumption of Company obligations to Securityholders; or to
               make any change that does not materially adversely affect the
               rights of any Securityholder.

12.   Restrictive Covenants.(10)

               The Securities are unsecured general obligations of the
               Company limited to $ principal amount.

13.   Successors.

               When a successor assumes all the obligations of the Company
               under the Securities and the Indenture, the Company will be
               released from those obligations.

                                      A-4
<PAGE>

14.   Defeasance Prior to Redemption or Maturity.(11)

               Subject to certain conditions, the Company at any time may
               terminate some or all of its obligations under the Securities
               and the Indenture if the Company deposits with the Trustee
               money or U.S. Government Obligations for the payment of
               principal and interest on the Securities to redemption or
               maturity. U.S. Government Obligations are securities backed by
               the full faith and credit of the United States of America or
               certificates representing an ownership interest in such
               Obligations.

15.   Defaults and Remedies.

               An Event of Default with respect to this series of Securities
               is: default for 30 days in payment of interest on the
               Securities of this series; default in payment of principal on
               them If the Security is subject to redemption insert ", upon
               redemption or otherwise"; and, if the Security is entitled to
               a sinking fund also add "or in the making of any sinking fund
               payment"; failure by the Company for 60 days after notice to
               it to comply with any of its other covenants, conditions or
               agreements in the Indenture or the Securities of this series;
               a default under any bond, debenture, note or other evidence of
               indebtedness for money borrowed by the Company (including a
               default with respect to Securities of any series other than
               this series) or under any mortgage, indenture or instrument
               under which there may be issued or by which there may be
               secured or evidenced any indebtedness for money borrowed by
               the Company (including the Indenture), whether such
               indebtedness now exists or shall hereafter be created, which
               default shall involve an amount in excess of $10,000,000 and
               shall constitute a failure to pay such indebtedness when due
               and payable after the expiration of any applicable grace
               period with respect thereto and shall have resulted in such
               indebtedness becoming or being declared due and payable prior
               to the date on which it would otherwise have become due and
               payable, without such indebtedness having been discharged, or
               such acceleration having been rescinded or annulled within a
               period of 30 days after notice as provided in the Indenture;
               and certain events of bankruptcy or insolvency. [Add other
               events of default if applicable]. If an Event of Default with
               respect to this series of the Securities occurs and is
               continuing, the Trustee or the Holders of at least 25% in
               principal amount of the outstanding Securities of this series
               may declare all the Securities of this series to be due and
               payable immediately. [If the Security is a Discounted
               Security, add "The amount due and payable shall be equal to"
               [insert formula for determining the amount.] Upon payment (i)
               of the amount of principal so declared due and payable and
               (ii) of interest on any overdue principal and overdue interest
               (in each case to the extent that the payment of such interest

                                      A-5
<PAGE>
               shall be legally enforceable), all of the Company's
               obligations in respect of the payment of the principal and
               interest, if any, on the Discounted Securities of this series
               shall be terminated.] Holders of Securities of this series may
               not enforce the Indenture or the Securities of this series
               except as provided in the Indenture. The Trustee may require
               indemnity satisfactory to it before it enforces the Indenture
               or the Securities of this series. Subject to certain
               limitations, Holders of a majority in principal amount of the
               outstanding Securities of this series may direct the Trustee
               in its exercise of any trust or power with respect to this
               series of the Securities. The Trustee may withhold from
               Holders of Securities of this series notice of any continuing
               default (except a default in payment of principal or interest)
               if it determines in good faith that withholding notice is in
               their interests. The Company is required to file periodic
               reports with the Trustee as to the absence of default.

16.   Trustee Dealings with Company.

               The Trustee, in its individual or any other capacity, may make
               loans to, accept deposits from, and perform services for the
               Company or its Affiliates, and may otherwise deal with those
               persons, as if it were not Trustee.

17.   No Recourse Against Others.

               A director, officer, employee or stockholder, as such, of the
               Company shall not have any liability for any obligations of
               the Company under the Securities or the Indenture or for any
               claim based on, in respect of or by reason of such obligations
               or their creation. Each Securityholder by accepting a Security
               waives and releases all such liability. The waiver and release
               are part of the consideration for the issue of the Securities.

18.   Authentication.

               This Security shall not be valid until authenticated by a
               manual signature of the Registrar.

19.   Abbreviations.

               Customary abbreviations may be used in the name of a
               Securityholder or an assignee, such as: TEN COM (=tenants in
               common), TEN ENT (=tenants by the entireties), JT TEN (=joint
               tenants with right of survivorship and not as tenants in
               common), CUST (=custodian), and U/G/M/A (=Uniform Gifts to
               Minors Act).

                                       A-6
<PAGE>

         The Company will furnish to any Securityholder upon written request and
without charge a copy of the Indenture and the Bond Resolution, which contains
the text of this Security in larger type. Requests may be made to: Secretary,
General Cable Corporation, 4 Tesseneer Drive, Highland Heights, Kentucky 41076.

                                      A-7
<PAGE>

                                                                       EXHIBIT B

                            A Form of Bearer Security

No.                                                  $

                            GENERAL CABLE CORPORATION
                               [Title of Security]

General Cable Corporation
promises to pay to

or registered assigns
the principal sum of             Dollars on               ,

Interest Payment Dates:
          Record Dates:

                                                   Dated:      , 20__

                                                   GENERAL CABLE CORPORATION
Transfer Agent and Paying Agent

                                      (SEAL)

Authenticated:                                     Name:
                                                   Title:

Registrar, by

Authorized Signatory                               Name:
                                                   Title:

                                      B-1
<PAGE>

                            GENERAL CABLE CORPORATION
                               [Title of Security]

1.     Interest.(1)

                General Cable Corporation ("Company"), a Delaware corporation,
                promises to pay to bearer interest on the principal amount of
                this Security at the rate per annum shown above. The Company
                will pay interest semiannually on and of each year commencing
                           , 20__ . Interest on the Securities will accrue
                from the most recent date to which interest has been paid or,
                if no interest has been paid, from , 20__ . Interest will be
                computed on the basis of a 360-day year of twelve 30-day
                months.

2.     Method of Payment.(2)

                Holders must surrender Securities and any coupons to a Paying
                Agent to collect principal and interest payments. The Company
                will pay principal and interest in money of the United States
                that at the time of payment is legal tender for payment of
                public and private debts. The Company may pay principal and
                interest by check payable in such money.

3.     Bond Agents.

                Initially, , will act as Transfer Agent, Paying Agent and
                Registrar. The Company may change any Paying Agent, Transfer
                Agent or Registrar without notice. The Company or any
                Affiliate may act in any such capacity. Subject to certain
                conditions, the Company may change the Trustee.

4.     Indenture.

                The Company issued the securities of this series ("Securities")
                under an Indenture dated as of           ,   20__ ("Indenture")
                between the Company and                      ("Trustee").  The
                terms of the Securities include those stated in the Indenture
                and the Bond Resolution and those made part of the Indenture
                by the Trust Indenture Act of 1939 (15 U.S. Code ss.ss.
                77aaa-77bbbb). Securityholders are referred to the Indenture,
                the Bond Resolution and the Act for a statement of such terms.

5.     Optional Redemption.(3)

                On or after ,20__, the Company may redeem all the Securities
                at any time or some of them from time to time at the following
                redemption prices (expressed in percentages of principal
                amount), plus accrued interest to the redemption date.

                                      B-2
<PAGE>

                If redeemed during the 12-month period beginning,

                Year          Percentage       Year        Percentage
                20__
                20__
                20__
                20__

                and thereafter at 100%.

6.     Mandatory Redemption.(4)

                The Company will redeem $         principal amount of Securities
                on         and on each               thereafter
                through              , 20__ at a redemption price of 100% of
                principal amount, plus accrued interest to the redemption
                date.(5) The Company may reduce the principal amount of
                Securities to be redeemed pursuant to this paragraph by
                subtracting 100% of the principal amount (excluding premium)
                of any Securities (i) that the Company has acquired or that
                the Company has redeemed other than pursuant to this paragraph
                and (ii) that the Company has delivered to the Registrar for
                cancellation. The Company may subtract the same Security only
                once.

7.     Additional Optional Redemption.(6)

                In addition to redemptions pursuant to the above paragraph(s),
                the Company may redeem not more than $ principal amount of
                Securities on and on each thereafter through , 20__ at a
                redemption price of 100% of principal amount, plus accrued
                interest to the redemption date.

8.     Notice of Redemption.(7)

                Notice of redemption will be published once in an Authorized
                Newspaper in the City of New York and if the Securities are
                listed on any stock exchange located outside the United States
                and such stock exchange so requires, in any other required
                city outside the United States at least 30 days but not more
                than 60 days before the redemption date. Notice of redemption
                also will be mailed to holders who have filed their names and
                addresses with the Transfer Agent within the two preceding
                years. A holder of Securities may miss important notices if he
                fails to maintain his name and address with the Transfer
                Agent.

                                      B-3
<PAGE>
9.     Denominations, Transfer, Exchange.

                The Securities are in bearer form with coupons in
                denominations of $1,000(8) and whole multiples of $1,000. The
                Securities may be transferred by delivery and exchanged as
                provided in the Indenture. Upon an exchange, the Transfer
                Agent may require a holder, among other things, to furnish
                appropriate documents and to pay any taxes and fees required
                by law or the Indenture. The Transfer Agent need not exchange
                any Security or portion of a Security selected for redemption.
                Also, it need not exchange any Securities for a period of 15
                days before a selection of Securities to be redeemed.

10.    Persons Deemed Owners.

                The holder of a Security or coupon may be treated as its owner
                for all purposes.

11.    Amendments and Waivers.

                Subject to certain exceptions, the Indenture or the Securities
                may be amended with the consent of the holders of a majority
                in principal amount of the securities of all series affected
                by the amendment.(9) Subject to certain exceptions, a default on
                a series may be waived with the consent of the holders of a
                majority in principal amount of the series.

                Without the consent of any Securityholder, the Indenture or
                the Securities may be amended, among other things, to cure any
                ambiguity, omission, defect or inconsistency; to provide for
                assumption of Company obligations to Securityholders; or to
                make any change that does not materially adversely affect the
                rights of any Securityholder.

12.    Restrictive Covenants.(10)

                The Securities are unsecured general obligations of the
                Company limited to $          principal amount.

13.    Successors.

                When a successor assumes all the obligations of the Company
                under the Securities, any coupons and the Indenture, the
                Company will be released from those obligations.

                                      B-4
<PAGE>
14.    Defeasance Prior to Redemption or Maturity.(11)

                Subject to certain conditions, the Company at any time may
                terminate some or all of its obligations under the Securities,
                any coupons and the Indenture if the Company deposits with the
                Trustee money or U.S. Government Obligations for the payment
                of principal and interest on the Securities to redemption or
                maturity. U.S. Government Obligations are securities backed by
                the full faith and credit of the United States of America or
                certificates representing an ownership interest in such
                Obligations.

15.    Defaults and Remedies.

                An Event of Default with respect to this series of Securities
                is: default for 30 days in payment of interest on the
                Securities of this series; default in payment of principal on
                them [If the Security is subject to redemption insert ", upon
                redemption or otherwise"; and, if the Security is entitled to
                a sinking fund also add "or in the making of any sinking fund
                payment"]; failure by the Company for 60 days after notice to
                it to comply with any of its other covenants, conditions or
                agreements in the Indenture or the Securities of this series;
                a default under any bond, debenture, note or other evidence of
                indebtedness for money borrowed by the Company (including a
                default with respect to Securities of any series other than
                this series) or under any mortgage, indenture or instrument
                under which there may be issued or by which there may be
                secured or evidenced any indebtedness for money borrowed by
                the Company (including the Indenture), whether such
                indebtedness now exists or shall hereafter be created, which
                default shall involve an amount in excess of $10,000,000 and
                shall constitute a failure to pay such indebtedness when due
                and payable after the expiration of any applicable grace
                period with respect thereto and shall have resulted in such
                indebtedness becoming or being declared due and payable prior
                to the date on which it would otherwise have become due and
                payable, without such indebtedness having been discharged, or
                such acceleration having been rescinded or annulled within a
                period of 30 days after notice as provided in the Indenture;
                and certain events of bankruptcy or insolvency. [Add other
                events of default if applicable]. If an Event of Default with
                respect to this series of the Securities occurs and is
                continuing, the Trustee or the Holders of at least 25% in
                principal amount of the outstanding Securities of this series
                may declare all the Securities of this series to be due and
                payable immediately. [If the Security is a Discounted
                Security, add "The amount due and payable shall be equal to"
                [insert formula for determining the amount.] Upon payment (i)
                of the amount of principal so declared due and payable and
                (ii) of interest on any overdue principal and overdue interest
                (in each case to the extent that the payment of such interest

                                      B-5
<PAGE>

                shall be legally enforceable), all of the Company's
                obligations in respect of the payment of the principal and
                interest, if any, on the Discounted Securities of this series
                shall be terminated.] Holders of Securities of this series may
                not enforce the Indenture or the Securities of this series
                except as provided in the Indenture. The Trustee may require
                indemnity satisfactory to it before it enforces the Indenture
                or the Securities of this series. Subject to certain
                limitations, Holders of a majority in principal amount of the
                outstanding Securities of this series may direct the Trustee
                in its exercise of any trust or power with respect to this
                series of the Securities. The Trustee may withhold from
                Holders of Securities of this series notice of any continuing
                default (except a default in payment of principal or interest)
                if it determines in good faith that withholding notice is in
                their interests. The Company is required to file periodic
                reports with the Trustee as to the absence of default.

16.    Trustee Dealings with Company.

                The Trustee, in its individual or any other capacity, may make
                loans to, accept deposits from, and perform services for the
                Company or its Affiliates, and may otherwise deal with those
                persons, as if it were not Trustee.

17.    No Recourse Against Others.

                A director, officer, employee or stockholder, as such, of the
                Company shall not have any liability for any obligations of
                the Company under the Securities or the Indenture or for any
                claim based on, in respect of or by reason of such obligations
                or their creation. Each Securityholder by accepting a Security
                waives and releases all such liability. The waiver and release
                are part of the consideration for the issue of the Securities.

18.    Authentication.

                This Security shall not be valid until authenticated by a
                manual signature of the Registrar.

19.    Abbreviations.

                Customary abbreviations may be used in the name of a
                Securityholder or an assignee, such as: TEN COM (=tenants in
                common), TEN ENT (=tenants by the entireties), JT TEN (=joint
                tenants with right of survivorship and not as tenants in
                common), CUST (=custodian), and U/G/M/A (=Uniform Gifts to
                Minors Act).

                                      B-6
<PAGE>

         The Company will furnish to any Securityholder upon written request and
without charge a copy of the Indenture and the Bond Resolution, which contains
the text of this Security in larger type. Requests may be made to: Secretary,
General Cable Corporation, 4 Tesseneer Drive, Highland Heights, Kentucky 41076.

                                      B-7
<PAGE>

                                [FACE OF COUPON]

                                                                ...............
                                                                [$]............
                                                                Due............

                            GENERAL CABLE CORPORATION
                               [Title of Security]

                  Unless the Security attached to this coupon has been called
for redemption, General Cable Corporation ("Company") will pay to bearer, upon
surrender, the amount shown hereon when due. This coupon may be surrendered for
payment to any Paying Agent listed on the back of this coupon unless the Company
has replaced such Agent. Payment may be made by check. This coupon represents
six months' interest.

                                                     GENERAL CABLE CORPORATION

                                                     By:
                                                           ---------------------

                                      B-8
<PAGE>

                               [REVERSE OF COUPON]

                                                ,
                                 as PAYING AGENT

                                      B-9
<PAGE>

                            NOTES TO EXHIBITS A AND B

1.       If the Security is not to bear interest at a fixed rate per annum,
         insert a description of the manner in which the rate of interest is to
         be determined. If the Security is not to bear interest prior to
         maturity, so state.

2.       If the method or currency of payment is different, insert a statement
         thereof.

3.       If applicable.

4.       If applicable.

5.       If the Security is a Discounted Security, insert amount to be redeemed
         or method of calculating such amount.

6.       If applicable. Also insert, if applicable, provisions for repayment of
         Securities at the option of the Securityholder.

7.       If applicable.

8.       If applicable. Insert additional or different denominations.

9.       If different terms apply, insert a brief summary thereof.

10.      If applicable. If additional or different covenants apply, insert a
         brief summary thereof.

11.      If applicable. If different defeasance terms apply, insert a brief
         summary thereof.

Note:  U.S. tax law may require certain legends on Discounted and Bearer
Securities.

<PAGE>

                                                                       EXHIBIT C

                                 ASSIGNMENT FORM

                  To assign this Security, fill in the form below:

                  I or we assign and transfer this Security to

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

                      ----------------------------------------------------------
                  (Insert assignee's soc. sec. or tax I.D. no.)

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

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

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

--------------------------------------------------------------------------------
              (Print or type assignee's name, address and zip code)

and irrevocably appoint
                       ---------------------------------------------------------
agent to transfer this Security on the books of the Company. The agent may
substitute another to act for him.

Date:                        Your Signature:
     --------------------                   ------------------------------------

                                                      --------------------------
                                                      (Sign exactly as your name
                                                      appears on the other side
                                                      of this Security)

                                      C-1
<PAGE>

                                                                       EXHIBIT D

                                CONVERSION NOTICE

                   To convert this Security, check the box:

                                                  / /

                   To convert only part of this Security, state the amount (must
                   be in integral multiples of $1,000);

                   $----------------------------------

                   If you want the securities delivered upon conversion made out
                   in another person's name, fill in the form below:

                   (Insert other person's Social Security or Tax I.D. Number)

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

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

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

                   ------------------------------------
                   (Print or type other
                   person's name, address
                   and zip code)

Date:                            Your Signature:
     -------------------                             ---------------------------

                                                     ---------------------------
                                                     (Sign exactly as your name
                                                     appears on the other side
                                                     of this Security)

Signature(s) guaranteed by:
                                    --------------------------------------------
                                    (All signatures must be guaranteed by a
                                    member of a national securities exchange or
                                    of the National Association of Securities
                                    Dealers, Inc. or by a commercial bank or
                                    trust company located in the United States)

                                      D-1

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