Document:

<PAGE>   1

                                                                 EXHIBIT 10.21

                            FOURTH AMENDMENT TO LEASE

     THIS FOURTH AMENDMENT TO LEASE (this "Amendment") is made and entered into
as of February 16, 2001, by and between TIAA REALTY INC., a Delaware corporation
(the "Landlord") and FLORSHEIM GROUP INC., a Delaware corporation (the
"Tenant").

                                    RECITALS

     WHEREAS, pursuant to that certain Lease by and between Landlord's
predecessor-in-interest, Teachers Insurance and Annuity Association of America,
and Tenant's predecessor-in-interest, The Florsheim Shoe Company, dated
September 6, 1996, as amended by that certain First Amendment to Lease dated as
of December 31, 1996, that certain Second Amendment to Lease dated February 12,
1999 and that certain Third Amendment to Lease dated in March of 2000 (as
amended, the "Lease"), Tenant is presently occupying certain premises (the
"Premises") in that certain building commonly located at 200 N. LaSalle Street
in Chicago, Illinois (the "Building");

     WHEREAS, Tenant desires to permanently relinquish to Landlord (i) a portion
of the Premises located on the 12th Floor of the Building, comprised of 22,707
rentable square feet, depicted on Appendix A-1 attached hereto (the "12th Floor
Relinquished Premises"), and (ii) a portion of the Premises located on the lower
level of the Building, comprised of 4,649 rentable square feet, depicted on
Appendix A-2 attached hereto (the "Lower Level Relinquished Premises"; the 12th
Floor Relinquished Premises and the Lower Level Relinquished Premises are
sometimes collectively referred to herein as the "Relinquished Premises");

     WHEREAS, Tenant and Landlord also desire to amend other terms of the Lease
as described herein;

     NOW THEREFORE, for and in consideration of the covenants and agreements
hereinafter set forth, and also in consideration of the sum of Ten Dollars
($10.00) and other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, Landlord and Tenant hereby agree as follows:

I.   Controlling Language. Insofar as the specific terms and provisions of this
Amendment purport to amend or modify or are in conflict with the specific terms,
provisions and exhibits of the Lease, the terms and provisions of this Amendment
shall govern and control; in all other respects, the terms, provisions and
exhibits of the Lease shall remain unmodified and in full force and effect.

II.  Relinquishment of Relinquished Premises.

     A. On or before January 31, 2001, Tenant shall relinquish to Landlord, and
Landlord shall reacquire from Tenant, the Relinquished Premises.

<PAGE>   2

     B. After January 31, 2001 (the "Relinquished Premises Termination Date"),
but except as provided in the last sentence of this Paragraph, the Lease shall
terminate with respect to the Relinquished Premises and the Relinquished
Premises shall be deleted from the defined term "Premises." Accordingly, neither
Landlord nor Tenant shall have any obligations or liabilities to the other under
the Lease with respect to or in connection with the Relinquished Premises,
including, without limitation, rental obligations, obligations for taxes or
operating expenses or any non-monetary obligations or liabilities (collectively,
the "Liabilities") except for (i) Liabilities which constitute monetary
obligations that have accrued prior to the Relinquished Premises Termination
Date and remain unpaid to the other on the Relinquished Premises Termination
Date, and (ii) Liabilities which constitute non-monetary obligations which by
their express terms survive the expiration or earlier termination of the Lease.
Notwithstanding the foregoing, Tenant's obligation to pay Rent as to the
Relinquished Premises shall cease as of February 28, 2001.

     C. If Tenant fails to completely vacate and relinquish to Landlord (by
turning over the keys and removing all furniture and personal property)
Relinquished Premises in accordance with the terms of Paragraph 3 below before
the Relinquished Premises Termination Date, notwithstanding anything contained
in Section 15 of the Lease to the contrary, (i) such failure shall be treated as
a holding over by the Tenant, (ii) the Tenant shall be treated as a tenant at
sufferance (and not a month-to-month tenant), (iii) such holdover shall be
deemed an automatic default under the Lease, and (iv) Landlord shall be entitled
to all the remedies therefor under the Lease provided that, Tenant shall pay
Base Rent as to such space at 200% of the rate in effect immediately prior to
such hold over as directed by Landlord.

III. Relinquishment of the Relinquished Premises. Tenant shall timely relinquish
the Relinquished Premises to Landlord in "as-is, where-is" condition and Tenant
shall remove all personal property and moveable equipment from the Relinquished
Premises prior to relinquishment.

IV.  Schedule.

A.   As of the date Tenant receives a fully-executed original of this Amendment
from Landlord, Item 5 to the Schedule of the Lease shall be deleted in its
entirety and replaced by the following:

               5. SECURITY DEPOSIT: See Section 20. The amount of the Security
               Deposit shall be equal to $2,000,000.00.

B.   As of the Relinquished Premises Termination Date, Items 2 through 4 of the
Schedule to the Lease shall be deleted and replaced by the following so as to,
among other things, properly reflect the then-termination of the Relinquished
Premises as a portion of the Premises:

<PAGE>   3

     2. PREMISES:  The Premises consist of the following: (i) 49,847 rentable
                   square feet of space comprising all of floors fourteen and
                   fifteen of the Building and 4,433 rentable square feet of
                   space on floor ten of the Building (the "Office Space");
                   and (ii) 3,240 rentable square feet in the lobby of the
                   Building (the "Retail Space").

     3. RENTABLE SQUARE FEET OF THE PREMISES: 53,087 rentable square feet
                   (including the Retail Space).

     4. TENANT'S PROPORTIONATE SHARE: 8.5260% (based upon the Premises,
                   including the Retail Space, and a total of 622,667 rentable
                   square feet in the Building).

V.   Security Deposit. As of the date Tenant receives a fully-executed original
of this Amendment from Landlord, Section 20 of the Lease shall be deleted in its
entirety and replaced with the following:

          A. Tenant shall deposit with Landlord security for the performance of
          all of its obligation in the amount set forth in Item 5 to the
          Schedule and in the form set forth below. If Tenant defaults under
          this Lease, Landlord may use any part of the Security Deposit to make
          any defaulted payment, to pay for Landlord's cure of any defaulted
          obligation, or to compensate Landlord for any loss or damage resulting
          from any default. To the extent any portion of the Security Deposit is
          used, Tenant shall within five (5) days after demand from Landlord
          reinstate the Letter of Credit (defined below) to its full amount. If
          Tenant shall perform all of its obligations under this Lease and
          return the Premises to Landlord at the end of the Term, Landlord shall
          return either all of the remaining Security Deposit or the Letter of
          Credit to Tenant. The Security Deposit shall not serve as an advance
          payment of Rent or a measure of Landlord's damages for any default
          under this Lease.

          B. The Security Deposit shall be in the form of an unconditional and
          irrevocable letter of credit (the "Letter of Credit"), which Letter of
          Credit shall (a) be in the amount as described in the Schedule above,
          (b) be in substantially the form attached hereto as Appendix G, (c)
          name Landlord as its beneficiary, (d) expressly allow Landlord to draw
          upon it at any time or from time to time by delivering to the issuer
          written notice that Landlord is entitled to draw thereunder, (e) be
          drawn on an FDIC-insured financial institution satisfactory to
          Landlord, (f) be redeemable in the State of New York, and (g) be
          automatically renewed on an annual basis unless the issuing bank
          provides Landlord with at least thirty (30) days prior written notice
          that it is not renewing the Letter of Credit for the upcoming year. If
          the issuing bank elects to not renew the Letter of Credit for any year
          and Tenant does not cause another bank to issue the Letter of Credit
          to Landlord at least ten (10) days prior to the expiration of the
          Letter of Credit Landlord then holds, then Landlord shall have the
          right to draw under such Letter of Credit then held by Landlord and
          hold such funds as a Security Deposit in accordance with the terms of
          this Section 20. Tenant shall provide Landlord with a document that
          will have the effect of causing the Letter of Credit to thereafter be
          in the amount of $2,000,000 within five (5) business days after
          Tenant's receipt of a fully executed original of this Amendment from
          the Landlord. Landlord and Tenant shall cooperate with Tenant's bank
          in so causing the Letter of Credit to be modified to be in the amount
          of $2,000,000.

          C. If Landlord transfers its interest in the Project or this Lease,
          Tenant will cause the issuance of a new Letter of Credit for the
          benefit of the transferee. Upon such transfer and return of the old
          Letter of Credit, Landlord shall have no further obligation to return
          the Letter of Credit to Tenant, and Tenant's right to the return of
          such Letter of Credit shall apply solely against Landlord's
          transferee.

<PAGE>   4

VI.  Base Rent. Effective as of March 1, 2001, Section 31A and B of the Lease
shall be deleted and replaced in its entirety with the following:

     A.   Base Rent for the Office Space shall be in accordance with the
          following schedule:

          ---------------------------------------------------------------------
          Period                                Base Rent
          ---------------------------------------------------------------------
          March 1, 2001 - December 31, 2001     $8.16 per rentable square foot
          ---------------------------------------------------------------------
          January 1, 2002 - December 31, 2002   $8.41 per rentable square foot
          ---------------------------------------------------------------------
          January 1, 2003 - December 31, 2003   $8.66 per rentable square foot
          ---------------------------------------------------------------------
          January 1, 2004 - December 31, 2004   $8.91 per rentable square foot
          ---------------------------------------------------------------------
          January 1, 2005 - December 31, 2005   $9.16 per rentable square foot
          ---------------------------------------------------------------------
          January 1, 2006 - December 31, 2006   $9.41 per rentable square foot
          ---------------------------------------------------------------------
          January 1, 2007 - December 31, 2007   $9.66 per rentable square foot
          ---------------------------------------------------------------------
          January 1, 2008 - June 30, 2008       $9.91 per rentable square foot
          ---------------------------------------------------------------------

<PAGE>   5

     B.   Base Rent for the Retail Space shall be in accordance with the
          following schedule:

          ---------------------------------------------------------------------
          Period                                Annual Base Rent
          ---------------------------------------------------------------------
          March 1, 2001 - December 31, 2001     $18.00 per rentable square foot
          ---------------------------------------------------------------------
          January 1, 2002 - December 31, 2002   $18.25 per rentable square foot
          ---------------------------------------------------------------------
          January 1, 2003 - December 31, 2003   $18.50 per rentable square foot
          ---------------------------------------------------------------------
          January 1, 2004 - December 31, 2004   $18.75 per rentable square foot
          ---------------------------------------------------------------------
          January 1, 2005 - December 31, 2005   $19.00 per rentable square foot
          ---------------------------------------------------------------------
          January 1, 2006 - December 31, 2006   $19.25 per rentable square foot
          ---------------------------------------------------------------------
          January 1, 2007 - December 31, 2007   $19.50 per rentable square foot
          ---------------------------------------------------------------------
          January 1, 2008 - June 30, 2008       $19.75 per rentable square foot
          ---------------------------------------------------------------------

VII. Appendix A to Lease. As of the Relinquished Premises Termination Date,
Appendix A attached to the Lease is hereby amended to delete the Relinquished
Premises described herein.

<PAGE>   6

VIII. Real Estate Broker. Both parties represent that they have not dealt with
any real estate broker except for Douglas Elliman-Beitler with respect to this
Amendment, and to their knowledge, no other broker initiated or participated in
the negotiation of this Amendment. Tenant represents to Landlord that Equis is
not entitled to any commission from Landlord in connection with this Amendment
and Tenant shall indemnify and hold Landlord harmless from any claims made by
Equis for a commission in connection with this Amendment. Both parties agree to
indemnify and hold the other party harmless from and against any claims by any
other broker, agent or other person claiming a commission or other form of
compensation by virtue of having dealt with the indemnifying party with regard
to this leasing transaction.

IX.  Miscellaneous.

     A. Landlord and Tenant hereby agree that (i) this Amendment is incorporated
into and made a part of the Lease, (ii) any and all references to the Lease
hereinafter shall include this Amendment, and (iii) the Lease and all terms,
conditions and provisions of the Lease are in full force and effect as of the
date hereof, except as expressly modified and amended hereinabove.

     B. All terms capitalized but not defined herein shall have the same meaning
ascribed to such terms in the Lease.

     C. This Amendment shall be governed by and construed under the laws of
        the State of Illinois.

        IN WITNESS WHEREOF, the parties have executed this Amendment as of the
        date first above written.

LANDLORD:                                   TENANT:

TIAA REALTY INC., a Delaware                    FLORSHEIM GROUP INC.,
corporation                                     a Delaware corporation

By:  Teachers Insurance and Annuity
     Association of America, a
     New York corporation, its
          authorized representative

By: /s/ S. Mark Flannery                        By: /s/ Thomas P. Polke
    -----------------------                         ---------------------------
Name    S. Mark Flannery                        Name:   Thomas P. Polke
    -----------------------                          --------------------------
Title:  Director                                Title:  EVP, CFO
      ---------------------                           -------------------------<PAGE>   1
                                    Exhibit 4.2(b) to Motorola, Inc.'s Form 10-K
                                            for the year ended December 31, 2000

         INSTRUMENT OF RESIGNATION, APPOINTMENT AND ACCEPTANCE, dated as of
January 22, 2001 (this "Instrument") among Motorola, Inc., a corporation duly
organized and existing under the laws of the State of Delaware, having its
principal office at 1303 East Algonquin Road, Schaumburg, Illinois 60196 (the
"Company"), Bank One Trust Company, N.A., a national banking association duly
organized and existing under the laws of the United States, having its principal
Corporate Trust Office at 1 Bank One Plaza, Chicago, Illinois 60670 ("Bank One"
or "Successor Trustee"), and BNY Midwest Trust Company (as successor trustee to
Harris Trust and Savings Bank), a banking corporation duly organized and
existing under the laws of the State of New York, having its principal office at
111 West Monroe Street, Chicago, Illinois 60603 (the "Resigning Trustee").

         WHEREAS:

         A. The Company issued the securities described below (collectively, the
"Securities"):

5.80% Notes due October 15, 2008 of which $325,000,000 is outstanding;

7.625% Notes due November 15, 2010 of which $1,200,000,000 is outstanding;

7.5% Debentures due May 15, 2025 of which $400,000,000 is outstanding;

6.5% Debentures due September 1, 2025 of which $400,000,000 is outstanding;

5.22% Debentures due October 1, 2097 of which $300,000,000 is outstanding; and

6.5% Debentures due November 15, 2028 of which $445,000,000 is outstanding;

under the Indenture dated as of May 1, 1995 between the Company and the
Resigning Trustee (the "Indenture");

         B. The Company appointed the Resigning Trustee as the paying agent (the
"Paying Agent") and the Security Registrar (the "Security Registrar") under the
Indenture;

<PAGE>   2
         C. The Indenture provides that the Resigning Trustee may at any time
resign as Trustee, Paying Agent and Security Registrar by giving written notice
thereof to the Company;

         D. The Resigning Trustee represents that it has given the Company
written notice of its resignation as Trustee, Paying Agent and Security
Registrar, a true copy of which is annexed hereto marked Exhibit A;

         E. The Indenture further provides that, if the Trustee shall resign,
the Company shall promptly appoint a successor Trustee;

         F. The Company by resolutions of a committee authorized by its Board of
Directors, a true copy of which is annexed to a Certificate of its Secretary or
Assistant Secretary annexed hereto and marked Exhibit B, accepted the
resignation of BNY Midwest Trust Company as Trustee, Paying Agent and Security
Registrar and appointed Bank One, as successor Trustee, Paying Agent and
Security Registrar;

         G. The Indenture provides that the successor Trustee shall execute,
acknowledge and deliver to the Company and the Resigning Trustee an instrument
accepting such appointment and thereupon the resignation of the Resigning
Trustee shall become effective and Bank One, as such successor Trustee, without
any further act, deed or conveyance, shall become vested with all rights,
powers, duties and obligations of the Trustee;

         H. The Indenture further provides that no successor Trustee shall
accept appointment as such unless at the time it is qualified and eligible under
the Indenture and the Trust Indenture Act of 1939 and the rules and regulations
promulgated thereunder (the "Trust Indenture Act");

         I. Bank One is qualified, eligible and willing to accept such
appointment as successor Trustee; and

                                      -2-
<PAGE>   3
         J. The Indenture further provides the Company shall mail notice of
appointment of a successor Trustee, Paying Agent and Security Registrar to
Holders of the Securities; and the Company, simultaneously with the execution
and delivery of this Instrument, has caused the notice required pursuant to the
Indenture, a form of which is annexed hereto and marked Exhibit C, to be mailed
to the Holders of the Securities as therein required.

         NOW, THEREFORE, THIS INSTRUMENT WITNESSETH: that for and in
consideration of the premises and of other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, it is hereby
covenanted, declared, decreed and agreed by the Company, Bank One and the
Resigning Trustee as follows:

         1. The resignation of BNY Midwest Trust Company as Trustee, Paying
Agent and Security Registrar and its discharge from the trust created by the
Indenture shall be effective as of the date hereof upon the execution and
delivery of this Instrument by all the parties hereto.

         2. The Company, in the exercise of the authority vested in it by the
Indenture, hereby appoints Bank One as successor Trustee, Paying Agent and
Security Registrar with all rights, powers, trusts, duties and obligations under
the Indenture, each such appointment to be effective as of the date hereof upon
the execution and delivery of this Instrument by all the parties hereto.

         3. Bank One hereby represents that it is qualified and eligible under
the provisions of the Indenture and the Trust Indenture Act to be appointed
successor Trustee, Paying Agent and Security Registrar and hereby accepts its
appointment as successor Trustee, Paying Agent and Security Registrar effective
as of the date hereof upon the execution and delivery of this Instrument by all
parties hereto, and hereby assumes the rights, powers, trusts, duties and
obligations of the Trustee, Paying Agent and Security Registrar under the
Indenture, subject to all terms and provisions therein contained.

                                      -3-
<PAGE>   4
         4. The Resigning Trustee hereby grants, gives, bargains, sells,
remises, releases, conveys, confirms, assigns, transfers and sets over to Bank
One as such successor Trustee, Paying Agent and Security Registrar and its
successors and assigns all rights, title and interest of the Resigning Trustee,
as Trustee, Paying Agent and Security Registrar in and to the trust estate and
all rights, powers and trusts, under the Indenture; and the Resigning Trustee as
Trustee, Paying Agent and Security Registrar does hereby agree to pay over,
assign and promptly deliver to Bank One as such successor Trustee, Paying Agent
and Security Registrar any and all money, if any, and property, if held by the
Resigning Trustee, as Trustee, Paying Agent and Security Registrar and the
Company for the purpose of more fully and certainly vesting in and confirming to
Bank One as such successor Trustee, Paying Agent and Security Registrar said
estate, properties, rights, powers and, at the request of Bank One, joins in the
execution hereof.

         5. The Resigning Trustee hereby represents and warrants to the
Successor Trustee that:

            (a)   No "Event of Default" (as defined in the Indenture) and no
                  event which, after notice or lapse of time or both, would
                  become an Event of Default, has occurred and is continuing
                  under the Indenture;

            (b)   No covenant or condition contained in the Indenture has been
                  waived by the Resigning Trustee or by the Holders of the
                  percentage in aggregate principal amount of the Securities
                  required by the Indenture to effect any such waiver;

            (c)   There is no action, suit, or proceeding pending or threatened
                  against the Resigning Trustee before any court or governmental
                  authority arising out of any action or omission by the
                  Resigning Trustee as Trustee;

            (d)   The Resigning Trustee has furnished, or as promptly as
                  practicable will furnish, to the Successor Trustee originals
                  of all documents relating to the trust created

                                      -4-
<PAGE>   5

                  by the Indenture and all information in its possession
                  relating to the administration and status thereof and will
                  furnish to the successor Trustee any of such documents or
                  information the Successor Trustee may select, provided that
                  the Successor Trustee will make available to the Resigning
                  Trustee as promptly as practicable following the request of
                  the Resigning Trustee any such original documents which the
                  Resigning Trustee may need to defend against any action, suit,
                  or proceeding against the Resigning Trustee as Trustee or
                  which the Resigning Trustee may need for any other proper
                  purpose;

            (e)   The Resigning Trustee has not delegated to any other party any
                  of its duties as Trustee, Security Registrar, or Paying Agent,
                  and has not appointed any Authenticating Agent; and (f)

            (f)   The Resigning Trustee has lawfully and fully discharged its
                  duties as Trustee.

         6. The Company hereby represents and warrants to the Successor Trustee
that:

            (a)   It is a duly incorporated and existing corporation in good
                  standing under the laws of the State of Delaware and has full
                  power and authority to execute and deliver this Instrument;

            (b)   This Instrument has been duly and validly authorized,
                  executed, and delivered by the Company and constitutes a
                  legal, valid, and binding obligation of the Company;

            (c)   The Securities have been duly registered under the Securities
                  Act of 1933, as amended, and such registration has become
                  effective;

            (d)   The Indenture complies with the Trust Indenture Act and has
                  been duly qualified thereunder and is a legal, valid, and
                  binding obligation of the Company;

                                      -5-
<PAGE>   6

            (e)   The Company has performed or fulfilled each covenant,
                  agreement, and condition on its part to be performed or
                  fulfilled under the Indenture;

            (f)   There is no "Event of Default" and no event which, after
                  notice or lapse of time or both, would become an Event of
                  Default under the Indenture;

            (g)   The Company has not appointed any Security Registrar or Paying
                  Agent other than the Resigning Trustee; and

            (h)   The Company will continue to perform its obligations under the
                  Indenture.

         7. Notwithstanding the resignation of the Resigning Trustee as Trustee
under the Indenture, the Company shall remain obligated under the Indenture to
compensate, reimburse and indemnify the Resigning Trustee in connection with its
trusteeship under the Indenture.

         8. For all purposes of this Instrument, except as otherwise expressly
provided or unless the context otherwise requires, all capitalized terms used
and not defined herein that are defined in the Indenture shall have the meanings
assigned to them in the Indenture.

         9. This Instrument may be executed in any number of counterparts, each
of which shall be an original but such counterparts shall together constitute
but one and the same instrument.

         10. This Instrument shall be governed by and construed in accordance
with the laws of the State of Illinois.

                            [signature pages follow]

                                      -6-
<PAGE>   7
         IN WITNESS WHEREOF, the parties hereto have caused this Instrument to
be duly executed and their respective seals to be affixed hereunto and duty
attested all as of the day and year first above written.

                                           MOTOROLA, INC.

                                           By: /s/ Garth L. Milne
                                               --------------------------------
[Corporate Seal]                               Title: Senior Vice President
                                                      and Treasurer

                                           ATTEST:

                                               /s/ Jeffrey A. Brown
                                           ------------------------------------
                                           Assistant Secretary

                                           BANK ONE TRUST COMPANY, N.A.
                                           as Successor Trustee

                                           By: /s/ Leland Hansen
                                              ---------------------------------
[Corporate Seal]                              Title:  Assistant Vice President

                                           ATTEST:

                                               /s/ Joseph Morand
                                           ------------------------------------

                                      -7-
<PAGE>   8

                                           BNY MIDWEST TRUST COMPANY
                                           as Resigning Trustee

                                           By: /s/ Carolyn Potter
                                               --------------------------------
                                               Title: Assistant Vice President

[Corporate Seal]
                                           ATTEST:

                                               /s/ D.G. Donovan
                                           -------------------------------------
                                           Title: Assistant Secretary

                                      -8-
<PAGE>   9
                                    EXHIBIT A

Motorola, Inc.
1303 East Algonquin Road
Schaumburg, Illinois 60196

Attention:  Secretary

Gentlemen:

NOTICE IS HEREBY GIVEN THAT, pursuant to Section 610 of the Indenture, dated as
of May 1, 1995 (the "Indenture"), between Motorola, Inc. and BNY Midwest Trust
Company (as successor to Harris Trust and Savings Bank), as Trustee, BNY Midwest
Trust Company hereby resigns as Trustee, Paying Agent and Security Registrar
under the Indenture, each such resignation is to be effective upon the
appointment, pursuant to Section 610 of the Indenture, of a successor Trustee
and the acceptance of such appointment by such successor Trustee, pursuant to
Section 611 of the Indenture.

                                                   Very truly yours,

                                                   BNY Midwest Trust Company

                                                   By
                                                     ---------------------------

                                                   Title
                                                        ------------------------

                                      -9-
<PAGE>   10
                                    EXHIBIT B

                            CERTIFICATE OF SECRETARY

         I, ______________, do hereby certify that I am the duly appointed,
qualified and acting Secretary or Assistant Secretary of Motorola, Inc., a
Delaware corporation; I further certify that the resolution attached hereto as
Exhibit B-1 and incorporated herein by this reference, is a true and correct
copy of resolutions duly adopted by a committee authorized by the Board of
Directors of said corporation as of January ____, 2001; and I further certify
that said resolutions remain in full force and effect as of the date of this
certificate.

               Dated this __ day of January, 2001

                                             ------------------------
                                             Title:

                                      -10-
<PAGE>   11
                                   EXHIBIT B.1

         RESOLVED, that the resignation of BNY Midwest Trust Company (as
successor to Harris Trust and Savings Bank), as Trustee, Paying Agent and
Security Registrar under an Indenture dated as of May 1, 1995 (the "Indenture")
between the Company, and BNY Midwest Trust Company (as successor to Harris Trust
and Savings Bank) in connection with the issuance of the Company's:

                        5.80% Notes due October 15, 2008

                          7.625% Notes due November 15,

                        7.5% Debentures due May 15, 2025

                      6.5% Debentures due September 1, 2025

                      5.22% Debentures due October 1, 2097

                      6.5% Debentures due November 15, 2028

is hereby accepted and Bank One Trust Company, N.A., a national banking
association, is hereby appointed as successor Trustee, Paying Agent and Security
Registrar under said Indenture; and

         FURTHER RESOLVED, that any officer of the Company is hereby authorized
to enter into such agreements as may be necessary to effectuate such appointment
of Bank One Trust Company, N.A.

                                      -11-
<PAGE>   12

                                    EXHIBIT C

                             Notice to Holders of:

                                 MOTOROLA, INC.

                        5.80% Notes due October 15, 2008

                       7.625% Notes due November 15, 2010

                        7.5% Debentures due May 15, 2025

                      6.5% Debentures due September 1, 2025

                      5.22% Debentures due October 1, 2097

                      6.5% Debentures due November 15, 2028

Motorola, Inc. hereby notifies you of the resignation of BNY Midwest Trust
Company (as successor to Harris Trust and Savings Bank), as Trustee, Paying
Agent and Security Registrar under the Indenture dated as of May 1, 1995 (the
"Indenture"), pursuant to which your Securities were issued and are outstanding.
Motorola, Inc. has appointed Bank One Trust Company, N.A., whose Corporate Trust
Office is located at 1 Bank One Plaza, Chicago, Illinois 60670, as successor
Trustee, Paying Agent and Security Registrar under the Indenture, which
appointment has been accepted and became effective as of January __, 2001

MOTOROLA, INC.

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

BANK ONE TRUST COMPANY, N.A.

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

                                      -12-

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