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                                                                    Exhibit 10.2

                                   TERM SHEET
                                       FOR
               RETIREMENT AND TERMINATION OF EMPLOYMENT AGREEMENT
            DATED OCTOBER 18, 1999 AS AMENDED, BETWEEN GENERAL CABLE
                       CORPORATION AND STEPHEN RABINOWITZ

TERMINATION OF EMPLOYMENT BY THE COMPANY:

General Cable gives notice of termination of Employment Agreement to Rabinowitz
effective August 6, 2001, which ends the Agreement.

OBLIGATIONS OF COMPANY:

The Company's obligations to Executive will be to pay or do the following within
10 business days from the date of termination of employment:

         (a)      Pay Base Salary earned but not paid prior to the date of the
                  termination of employment.

         COMPANY  ACTION: PAY SALARY EARNED THROUGH AUGUST 6, 2001

         (b)      Pay for all accrued but unused vacation time up to the date of
                  the termination of the Executive's employment.

         COMPANY  ACTION: PAY 4 WEEKS VACATION PAY IN LUMP SUM

         (c)      Payment for any bonus deferred for any prior year.

         COMPANY  ACTION: NONE REQUIRED

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         (d)      A bonus payable under any Future Bonus Plan, to the extent
                  earned but not paid with respect to 2001.

         COMPANY ACTION: MAKE PAYMENT OF ANY EARNED BONUS FOR 2001 UNDER ANY
         FUTURE BONUS PLAN. COMPANY WILL PAY BONUS OF $253,053, WHICH IS EQUAL
         TO ENTRY LEVEL PERFORMANCE UNDER THE COMPANY PERFORMANCE MATRIX FOR THE
         AIP AND MIP PLANS, FOR A PERIOD OF 33 WEEKS.

         (e)      A lump sum amount equal to three (3) times the sum of (i) the
                  Executive's current salary plus (ii) the target annual bonus
                  under the Future Bonus Plan (equal to 120% of Base Pay).

         COMPANY ACTION: MAKE PAYMENT IN LUMP SUM THE AMOUNT OF $4,785,000

         (f)      Immediate vesting of and lapsing of restrictions on all
                  unvested Stock Awards held by the Executive on the date of the
                  termination of employment.

         COMPANY ACTION: THE COMPANY WILL IMMEDIATELY VEST ALL UNVESTED
         RESTRICTED STOCK AND WAIVE ALL RESTRICTIONS. THIS REPRESENTS 60,000
         UNVESTED RESTRICTED SHARES AS OF THE DATE OF TERMINATION.

         (g)      Accelerate vesting of all Company stock options held by the
                  Executive on the date of termination of employment with all
                  stock options remaining exercisable

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                  for one year and otherwise subject to Employer's Stock
                  Incentive Plan.

         COMPANY ACTION: COMPANY WILL TAKE NECESSARY STEPS TO VEST 150,000
         UNVESTED COMPANY STOCK OPTIONS HELD BY THE EXECUTIVE. OPTIONS WILL
         REMAIN EXERCISABLE FOR ONE YEAR.

         (h)      Provide for continued participation for Rabinowitz as if he
                  were still an Executive, in the Company's medical, dental,
                  hospitalization and life insurance plans, programs and
                  arrangements in which he is participating on the date of the
                  termination of Executive's employment ("Programs") on the same
                  terms and conditions as other executives under such Programs
                  until the earlier of three (3) years from the date of the
                  Executive's termination or the date Executive receives
                  equivalent coverage and benefits under the Programs of a
                  subsequent employer (coverage and benefits to be determined on
                  a coverage-by-coverage or benefit-by-benefit basis)

         COMPANY ACTION: COMPANY WILL CONTINUE PARTICIPATION FOR EXECUTIVE IN
         THE PROGRAMS FOR 3 YEARS OR EARLIER IF EXECUTIVE RECEIVES EQUIVALENT
         COVERAGES UNDER SUBSEQUENT EMPLOYER'S PLANS. EXECUTIVE WILL BE ELIGIBLE
         TO PARTICIPATE IN COMPANY RETIREE MEDICAL

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         PLAN AFTER THREE (3) YEAR BENEFIT CONTINUATION PERIOD ENDS AT FULL COST
         TO EXECUTIVE.

         (i)      Provide additional benefits in any existing plans, programs
                  and arrangements of the Company (other than any severance
                  payments payable under the terms of any benefit plan),
                  including outplacement services consistent with the Company's
                  then existing practice for senior executives or, if there is
                  no such then existing practice, consistent with the Company's
                  past practice for senior executives.

         COMPANY ACTION:

         1.       COMPANY WILL REIMBURSE EXECUTIVE FOR REASONABLE COSTS OF
                  BUSINESS TRIPS TO WIRE AND CABLE INDUSTRY TRADE AND
                  PROFESSIONAL SOCIETY BUSINESS MEETINGS IN SUMMER AND FALL
                  2001. EXECUTIVE WILL ADVISE THE COMPANY OF THE SPECIFIC TRIPS
                  AND PROVIDE REASONABLE DOCUMENTATION OF EXPENSES INCURRED.

         2.       CONTINUE TO PROVIDE EXECUTIVE WITH CURRENT COMPANY AUTOMOBILE
                  THROUGH TERMINATION OF THE EXISTING LEASE. COMPANY WILL
                  PURCHASE THE LEASED VEHICLE AT THE END OF THE LEASE TERM AND
                  TRANSFER TITLE TO EXECUTIVE AT THE COMPANY'S COST.

         3.       CONTINUE EXECUTIVE'S PARTICIPATION IN THE STOCK LOAN INCENTIVE
                  PLAN (SLIP) UNDER THE TERMS OF THE PLAN, AS IF STILL EMPLOYED
                  BY THE COMPANY AND SUBJECT TO THE FURTHER CONDITION THAT
                  VESTING OF STOCK UNITS IS SUBJECT TO EXECUTIVE'S ADHERENCE TO
                  THE TERMS OF THE NON-COMPETITION COVENANT IN HIS EMPLOYMENT
                  AGREEMENT THROUGH NOVEMBER 2, 2003, WHICH EXTENDS THE PERIOD
                  OF

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                           NON-COMPETITION PROVIDED FOR IN THE EMPLOYMENT
                           AGREEMENT.

                  4.       PAY LUMP SUM OF $3,153,782 AS ESTIMATED VALUE OF
                           SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN BENEFIT. THIS
                           IS ESTIMATED AMOUNT SUBJECT TO ADJUSTMENT FOR PRIOR
                           EMPLOYERS' PENSION BENEFITS.

                  5.       THE COMPANY WILL PAY THE BASE DUES FOR MEMBERSHIP AT
                           HYDE PARK COUNTRY CLUB FOR THE EXECUTIVE FOR THREE
                           (3) YEARS FROM THE DATE OF TERMINATION OF EMPLOYMENT.

                  6.       EXECUTIVE MAY RETAIN ITEMS OF PERSONAL PROPERTY
                           RELATING TO THE BUSINESS AND USED AT HIS HOME
                           INCLUDING FAX MACHINE, MOBILE TELEPHONE AND HANDHELD
                           COMPUTING DEVICE (BLACKBERRY). IN ADDITION, EXECUTIVE
                           MAY TAKE POSSESSION OF PICTURE ON OFFICE WALL AND
                           SCULPTURE IN HIS OFFICE, AND STAND-UP DESK, COMPUTER
                           DESK AND COMPUTER.

OBLIGATIONS OF EXECUTIVE:

Provide release and letter of resignation from director and officer positions in
consideration of payments and benefits to be received. In addition, adhere to
covenants in the Agreement relating to non-competition, confidentiality, and
protection of Company Developments, and any other provisions which survive
termination of employment.

OTHER TERMS:

-        All payments to Executive will be made subject to applicable payroll
         deductions.

-        Sales or dispositions of Company shares must be made consistent with
         federal and state securities laws and subject to advice of Company
         Counsel.

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-        Company and Executive will maintain terms and conditions of settlement
         in confidence, except as required by law.

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                                                                    Exhibit 10.3

                     FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

         This is an amendment to the Employment Agreement (the "Agreement")
entered into on October 18, 1999, and amended and restated as of April 28, 2000,
by and between General Cable Corporation, a Delaware corporation (the "Company")
and Gregory B. Kenny (the "Executive").

         The Company, in its own right, and the Executive, in consideration of
their mutual agreements, agree as follows:

         1.       Paragraph 2(a) of the Agreement shall be amended to read as
                  follows:

                           Effective on August 6, 2001, and throughout the
                           Employment Period, the Executive shall be entitled to
                           serve as President and Chief Executive Officer of the
                           Company, GK Technologies, Incorporated, a New Jersey
                           Corporation ("GK"), General Cable Industries, Inc.
                           ("General Cable"), and such other affiliates of the
                           Company, GK or General Cable as the Board of
                           Directors of the Company ("Company's Board") shall
                           request. The Company, GK, General Cable and such
                           other affiliates are hereinafter referred to
                           collectively as the "Group".

         2.       Paragraph 2(b) of the Agreement shall be amended by
                  substituting the words "Chief Executive Officer" for "Chief
                  Operating Officer" in the first line.

         3.       Paragraph 3(a) of the Agreement, first sentence, shall be
                  amended as follows:

                           Effective August 6, 2001, during the Employment
                           Period, the Executive shall be paid a base salary at
                           the annual rate of Five Hundred Fifty Thousand
                           Dollars ($550,000), payable in accordance with the
                           regular payroll practices of the Company.

         The parties have caused this amendment to be duly executed by them as
of the 6th day of August, 2001.

GENERAL CABLE CORPORATION

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Robert J. Siverd                                     Gregory B. Kenny
Executive Vice President, General Counsel
and Secretary

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