Document:

<PAGE>

                                                                [EXECUTION COPY]

                                 AMENDMENT No. 2

         AMENDMENT No. 2 dated as of December 4, 2002 (this "Amendment"), among
CIRCOR INTERNATIONAL, INC., a corporation duly organized and validly existing
under the laws of the State of Delaware (the "Company"); each of the Subsidiary
Guarantors referred to therein (collectively, the "Subsidiary Guarantors"); each
of the lenders that is a signatory hereto (individually, a "Lender" and,
collectively, the "Lenders"); and ING CAPITAL LLC, a Delaware limited liability
company, as agent for the Lenders (in such capacity, together with its
successors in such capacity, the "Agent").

         The Company, the Subsidiary Guarantors, certain of the Lenders and the
Agent are parties to a Credit Agreement dated as of October 18, 1999 (as
heretofore modified and supplemented and in effect on the date hereof, the
"Credit Agreement"). Banca Nazionale del Lavoro S.P.A., Banknorth, N.A. and
KeyBank National Association (collectively, the "New Lenders") wish to become
parties to the Credit Agreement as "Lenders" thereunder, and the Company, the
Subsidiary Guarantors, the Lenders and the Agent wish to amend the Credit
Agreement in certain respects and, accordingly, the parties hereto hereby agree
as follows:

         SECTION 1. Definitions. Except as otherwise defined in this Amendment,
terms defined in the Credit Agreement are used herein as defined therein.

         SECTION 2. Amendments. Subject to the satisfaction of the conditions
precedent specified in Section 4 below, but effective as of the date hereof, the
Credit Agreement shall be amended as follows:

         2.01. Definitions. Section 1.01 of the Credit Agreement shall be
amended by amending and restating the following definitions (and by replacing
the definition of "Net Worth" with the following definition of "Tangible Net
Worth") and inserting them in the appropriate alphabetical order:

                  "Applicable Commitment Fee Percentage" shall mean, with
         respect to Revolving Credit Loans, 0.200% per annum; provided, that if,
         as at the last day of any fiscal quarter of the Company, commencing
         with the fiscal quarter ending December 31, 2002, the Leverage Ratio
         shall fall within any of the ranges set forth in Schedule Z below then,
         subject to the delivery to the Agent no later than 45 days (or, in the
         case of the fiscal quarter ending on December 31, 2002, no later than
         120 days) after the end of such fiscal quarter of a certificate of a
         senior financial officer of the Company demonstrating such fact
         (together with, solely in the case of the fiscal quarter ending
         December 31, 2002, the audited financial statements for fiscal year
         ending on such date required to be furnished to the Lenders pursuant to
         Section 9.01(b) hereof), the "Applicable Commitment Fee Percentage" for
         Revolving Credit Loans shall be the percentage per annum set forth
         opposite such range in such Schedule Z during the period commencing on
         the date of

<PAGE>

         receipt of such certificate (and such financial statements, if
         applicable) to but not including the earlier of (x) the date such a
         certificate is delivered by the Company with respect to the Leverage
         Ratio as at the end of the immediately following fiscal quarter and (y)
         45 days after the end of such immediately following fiscal quarter
         (except that notwithstanding the foregoing, the Applicable Commitment
         Fee Percentage shall equal 0.350% per annum for any fiscal quarter
         during which an Event of Default shall have occurred and be
         continuing):

<TABLE>
<CAPTION>
                                                        Schedule Z

                     ---------------------------------------- ---------------------------------------
                                 Leverage Ratio                           Commitment Fee
                                                                     Fee Percentage (% p.a.)
                     <S>                                      <C>
                     ---------------------------------------- ---------------------------------------
                                 Less than 0.75                               0.150%
                     ---------------------------------------- ---------------------------------------
                          Equal to or greater than 0.75                       0.200%
                     ---------------------------------------- ---------------------------------------
                          Equal to or greater than 1.50                       0.250%
                     ---------------------------------------- ---------------------------------------
                          Equal to or greater than 2.00                       0.300%
                     ---------------------------------------- ---------------------------------------
                          Equal to or greater than 2.50                       0.350%
                     ---------------------------------------- ---------------------------------------
</TABLE>

                  "Applicable Margin" shall mean, with respect to Base Rate
         Loans 0.000% and with respect to Eurodollar Loans 0.875% per annum;
         provided, that if, as at the last day of any fiscal quarter of the
         Company, commencing with the fiscal quarter ended December 31, 2002,
         the Leverage Ratio shall fall within any of the ranges set forth in
         Schedule X below then, subject to the delivery to the Agent no later
         than 45 days (or, in the case of the fiscal quarter ending on December
         31, 2002, no later than 120 days) after the end of such fiscal quarter
         of a certificate of a senior financial officer of the Company
         demonstrating such fact (together with, solely in the case of the
         fiscal quarter ending on December 31, 2002, the audited financial
         statements for fiscal year ended on such date required to be furnished
         to the Lenders pursuant to Section 9.01(b) hereof), the "Applicable
         Margin" shall be the percentage per annum set forth opposite such range
         in such Schedule X during the period commencing on the date of receipt
         of such certificate (and such financial statements, if applicable) to
         but not including the earlier of (x) the date such a certificate is
         delivered by the Company with respect to the Leverage Ratio as at the
         end of the immediately following fiscal quarter and (y) 45 days after
         the end of such immediately following fiscal quarter (except that,
         notwithstanding the foregoing, the Applicable Margin for any such Loan
         shall not as a consequence of this proviso be so reduced for any period
         during which an Event of Default shall have occurred and be
         continuing):

                                                       SCHEDULE X

<TABLE>
<CAPTION>
                 ---------------------------------------------------------------------------------------
                                                             Applicable Margin (% p.a.)
                 ---------------------------- ----------------------------------------------------------
                                                   Eurodollar Loans              Base Rate Loans
                          Leverage
                     <S>                                      <C>
                 ---------------------------- ---------------------------- -----------------------------
</TABLE>

                                        2

<PAGE>

<TABLE>
<CAPTION>
                 ---------------------------- ---------------------------- -----------------------------
                            Ratio
                 ---------------------------- ---------------------------- -----------------------------
                 <S>                          <C>                          <C>
                 Less than 0.75                         0.625%                         0.0%
                 ---------------------------- ---------------------------- -----------------------------
                 Equal to or greater than               0.875%                         0.0%
                 0.75
                 ---------------------------- ---------------------------- -----------------------------
                 Equal to or greater than               1.125%                         0.0%
                 1.50
                 ---------------------------- ---------------------------- -----------------------------
                 Equal to or greater than               1.375%                         0.0%
                 2.00
                 ---------------------------- ---------------------------- -----------------------------
                 Equal to or greater than               1.625%                        0.250%
                 2.50
                 ---------------------------- ---------------------------- -----------------------------
</TABLE>

                  "Confidential Information" shall mean (a) any financial
         information with respect to the Company or any of its Subsidiaries, (b)
         any written or verbal communication or information pertaining to any of
         the following: (i) any potential or actual acquisitions or joint
         ventures, (ii) any potential or actual divestitures of Property, (iii)
         any actual or threatened litigation, government investigations, or
         other contingent liabilities, (iv) any potential changes in the
         composition of the Board of Directors of the Company, and any potential
         changes in the senior management of the Company, (v) any financing
         initiatives and any changes to the Company's capital structure, and
         (vi) any discussions pertaining to any merger or change in control of
         the Company, and (c) any other information that is identified by the
         Company as being confidential at the time the same is delivered to the
         Lenders or the Agent.

                  "EBITDA" shall mean, for any period, the sum, for the Company
         and its Subsidiaries (determined on a consolidated basis without
         duplication in accordance with GAAP), of the following:

                           (a) Net Income (calculated before taxes, Interest
                  Expense, Specified Restructuring Charges, extraordinary or
                  unusual items and income or loss attributable to the equity in
                  Affiliates) for such period, plus

                           (b) depreciation and amortization (to the extent
                  deducted in determining Net Income) for such period.

                  "Leverage Ratio" shall mean, as at any date, the ratio of
         the following:

                           (a) the sum of the following:

                                    (x) the aggregate amount of Indebtedness of
                           the Company and its Subsidiaries outstanding on such
                           date, minus

                                    (y) solely for the purposes of calculating
                           the Applicable Margin, the excess (if any) of (i) the
                           aggregate amount of cash and cash equivalents of the
                           Company on such date (as set forth in Company's

                                       3

<PAGE>

                           public filings made pursuant to the Securities
                           Exchange Act of 1934), over (ii) $5,000,000, to

                                    (b) EBITDA for the four consecutive fiscal
                           quarters ended on or most recently prior to such
                           date.

                  "Permitted Write-up" shall mean a write-up (in accordance with
         GAAP) in the book value of assets acquired in an acquisition made
         pursuant to Section 9.05(b)(iv) hereof.

                  "Post-Default Rate" shall mean, in respect of any principal of
         any Loan or any other amount under this Agreement, any Note or any
         other Basic Document, a rate per annum equal to equal to the following:

                           (x) in the case of Base Rate Loans, 2% plus the
                  Applicable Margin for Base Rate Loans, plus the Base Rate (as
                  in effect from time to time),

                           (y) in the case of Eurodollar Loans, 2% plus the
                  Applicable Margin for Eurodollar Loans, plus the Eurodollar
                  Rate for such Loan, and

                           (z) if not a Loan, 2% plus the Applicable Margin for
                  Base Rate Loans plus the Base Rate (as in effect from time to
                  time).

                  "Revolving Credit Commitment" shall mean, for each Lender, the
         obligation of such Lender to make Revolving Credit Loans in an
         aggregate principal amount at any one time outstanding up to but not
         exceeding the amount set opposite the name of such Lender on the
         signature pages to Amendment No. 2 hereto under the caption "Revolving
         Credit Commitment." The aggregate principal amount of the Revolving
         Credit Commitments on the date of Amendment No. 2 hereto is
         $75,000,000.

                  "Revolving Credit Commitment Termination Date" shall mean
         December 2, 2006.

                  "Specified Restructuring Charges" shall mean, for any period,
         non-recurring restructuring or special charges taken (in accordance
         with GAAP) in connection with plant closings and/or the consolidation
         of operations that consist of (a) charges for severance payments, (b)
         charges for moving and relocation expenses, and (c) non-cash charges
         for the write-downs of the book value of assets.

                  "Tangible Net Worth" shall mean, as at any date for any
         Person, the sum for such Person and its Subsidiaries (determined on a
         consolidated basis without duplication in accordance with GAAP), of the
         following:

                           (a) the amount of capital stock, plus

                           (b) the amount of surplus and retained earnings (or,
                   in the case of a surplus or retained earnings deficit, minus
                   the amount of such deficit), minus

                                       4

<PAGE>

                           (c) the sum of the following (without duplication of
                   deductions in respect of items already deducted in arriving
                   at surplus and retained earnings): cost of treasury shares
                   and the book value of all assets which should be classified
                   as intangibles but in any event including goodwill, minority
                   interests, research and development costs, trademarks, trade
                   names, copyrights, patents and franchises, unamortized debt
                   discount and expense, all reserves and any write-up in the
                   book value of assets (other than a Permitted Write-up)
                   resulting from a revaluation thereof subsequent to June 30,
                   2002.

         2.02. Changes of Commitments. Section 2.03 of the Credit Agreement
shall be amended by adding the following new Section 2.03(e):

                  "(e) (i) The Company shall have the right from time to time,
         without the consent of the Lenders but subject to the approval of the
         Agent (which approval shall not be unreasonably withheld), to increase
         the aggregate amount of the Revolving Credit Commitments by adding as
         parties to this Agreement one or more commercial banks or other
         financial institutions to provide additional Revolving Credit
         Commitments; provided that

                           (A) no added Revolving Credit Commitment shall be
                  less than $5,000,000,

                           (B) no added Revolving Credit Commitment pursuant to
                  this Section 2.03(e) shall result in aggregate amount of the
                  Revolving Credit Commitments exceeding $100,000,000,

                           (C) there shall exist no Default or Event of Default
                  immediately prior to and immediately after giving effect to
                  such added Revolving Credit Commitment, and

                           (D) there shall have been no reduction of Revolving
                  Credit Commitments pursuant to Section 2.03(b) hereof.

         The Company shall deliver to the Agent by no later than noon New York
         time on the fifth Business Day preceding the proposed effective date of
         any such increase in the Revolving Credit Commitment each of the
         following items with respect to each new Lender:

                           (x) a written notice of the Company's intention to
                  increase the aggregate amount of the Revolving Credit
                  Commitments pursuant to this Section 2.03(e), which shall
                  specify each new Lender, and such other information regarding
                  any such new Lender as is reasonably requested by the Agent;

                           (y) an Added Lender Agreement for each such new
                  Lender, substantially in the form of Exhibit A to Amendment
                  No. 2 hereof, executed and delivered by such new Lender, the
                  Company and the Agent; and

                                       5

<PAGE>

                           (z) if requested by the applicable Lender, Notes with
                  respect to such added Revolving Credit Commitments shall have
                  been executed and delivered by the Company.

                  (ii) Upon receipt of the notice referred to in clause (i)(x)
         above, the Agent shall promptly notify each Lender thereof. Upon
         execution and delivery of the documents referred to in clause (i)
         hereof, such new Lender shall constitute a "Lender" hereunder with a
         Revolving Credit Commitment as specified therein. Immediately upon the
         effectiveness of the addition of such new Lender under this Section
         2.03(e) all the Revolving Credit Commitments shall, on the terms and
         conditions hereof, be deemed to be reborrowed pro rata among all of the
         Lenders (including the new Lenders) based on their Revolving Credit
         Commitments as then in effect and the Agent will net out the
         differences based on each Lender's pro rata share of the Revolving
         Credit Commitments before and after giving effect to the increase in
         the aggregate amount of the Revolving Credit Commitments. Each new
         Lender (A) shall be deemed to have assumed such portion of such
         Revolving Credit Loans and (B) shall fund to each other Lender on the
         day of the increase in the Revolving Credit Commitments all Revolving
         Credit Loans assigned to it by each such other Lender, as specified by
         the Agent. The Company agrees to pay to the Lenders on demand any and
         all amounts to the extent payable pursuant to Section 5.05 of the
         Credit Agreement as a result of any such prepayment of the Revolving
         Credit Loans occasioned by the foregoing increase in the Revolving
         Credit Commitments."

         2.03. Utilization Fee. The letter (a) shall be inserted immediately
before the words "The Company shall ..." in Section 2.04 of the Credit
Agreement, and the following new Section 2.04(b) shall be added to the Credit
Agreement immediately following Section 2.04(a):

                  "(b) Utilization Fee. The Company shall pay to the Agent for
         account of each Lender a utilization fee on the daily average
         outstanding amount of such Lender's Revolving Credit Loans for each
         period during which the aggregate outstanding principal amount of the
         Loans is greater than 50% of the aggregate amount of the Revolving
         Credit Commitments at a rate per annum equal to 0.125%. Accrued
         utilization fees with respect to each outstanding Loan shall be payable
         in arrears on each date on which interest on such Loan is payable."

         2.04. Mandatory Prepayment. Sections 2.09(b) and 2.09(d) of the Credit
Agreement shall be deleted in their entirety.

         2.05. Certain Notices. Section 4.05 of the Credit Agreement shall be
amended by adding the following after the reference to "12:00 p.m. New York
time":

         "(but, in the case of borrowings of, or conversions into, Base Rate
         Loans, 10:00 a.m. New York time)"

In addition, the reference in the table in said Section to one Business Day's
notice for borrowings of, or conversions into, Base Rate Loans, shall be
replaced by a reference to "same day".

                                       6

<PAGE>

         2.06. Leverage Ratio. Section 9.10 of the Credit Agreement shall be
amended by replacing the reference therein to "3.50 to 1" with a reference to
"3.00 to 1" and by replacing the proviso thereto with the following:

         "provided that, if any acquisition shall have been made after the
         Closing Date pursuant to Section 9.05(b)(iv) hereof at any time during
         the period of four consecutive fiscal quarters ending on the date for
         which the Leverage Ratio is being calculated (the "Calculation
         Period"), when calculating the Leverage Ratio on such date for purposes
         of this Section 9.10, EBITDA shall be calculated on a pro forma basis
         (to the extent permitted by Section 9.05(v)(iv) hereof) as if such
         acquisition had been made on the first day of the Calculation Period."

         2.07. Tangible Net Worth. Section 9.11 of the Credit Agreement of the
Credit Agreement shall be amended in its entirety to read as:

                  "9.11 Tangible Net Worth. The Company will not permit its
         Tangible Net Worth as at the last day of any fiscal quarter of the
         Company to be less than the sum of (a) $120,000,000 plus (b) 50% of Net
         Income for each fiscal quarter of the Company ending after June 30,
         2002 for which Net Income is a positive number."

         2.08. Fixed Charges Coverage Ratio. Section 9.13 of the Credit
Agreement shall be amended in its entirety to read as:

                  "9.13 Fixed Charges Coverage Ratio. The Company will not
         permit the Fixed Charges Coverage Ratio as at the last day of any
         fiscal quarter of the Company to be less than 1.40 to 1."

         2.09. Capital Expenditures. Section 9.14 of the Credit Agreement shall
be amended in its entirety to read as:

                  "9.14 Capital Expenditures. The Company will not permit the
         aggregate amount of Capital Expenditures by the Company and its
         Subsidiaries in any fiscal year of the Company to exceed $25,000,000."

         2.10. Interest Rate Swap Protection. Section 9.15 of the Credit
Agreement shall be amended in its entirety to read as follows:

                  "9.15 Interest Rate Hedging. The Company will not permit the
         aggregate outstanding principal amount of all Loans and all Senior
         Notes (collectively, the "Outstanding Debt") that (a) does not bear
         interest at a fixed rate, or (b) the interest rate on which is not
         hedged, on terms and conditions reasonably satisfactory to the Agent,
         by one or more Interest Rate Protection Agreements, to exceed 50% of
         the Outstanding Debt at any time."

         2.11. Lines of Business. Section 9.16 of the Credit Agreement shall be
amended in its entirety to read as:

                                       7

<PAGE>

                  "9.16 Lines of Business. Neither the Company nor any of its
         Subsidiaries will engage to any substantial extent in any line or lines
         of business activity other than the business of manufacturing,
         distributing and selling valves and related products, except as
         otherwise permitted under Section 9.05(b)(iv)."

         2.12. Events of Default. Section 10(h) of the Credit Agreement shall be
amended by inserting the following immediately after the phrase "$10,000,00 in
the aggregate":

         "(except for judgment amounts to the extent that they are covered by
         insurance)"

         2.13. Confidentiality. Section 12.12(b) of the Credit Agreement shall
be amended by replacing the reference to "information supplied to it by Company
pursuant to this Agreement that is identified by such Person as being
confidential at the time the same is delivered to the Lenders or the Agent" with
a reference to "Confidential Information supplied to it by the Company pursuant
to this Agreement."

         2.14. Revised Schedules. Each of Schedules II and VI to the Credit
Agreement is hereby amended and restated (and accepted by the Lenders) to read
as Schedules II and VI to this Amendment No. 2.

         SECTION 3. Representations and Warranties. The Company and the
Subsidiary Guarantors represent and warrant to the Lenders that the
representations and warranties set forth in Section 8 of the Credit Agreement
(after giving effect to the amendments to the Credit Agreement provided for by
this Amendment No. 2) are true and complete on the date hereof as if made on and
as of the date hereof and as if each reference in said Section 8 to "this
Agreement" included reference to this Amendment (or, if any such representation
and warranty is expressly to be made as of a specific date, as of such specific
date).

         SECTION 4. Conditions Precedent. As provided in Section 2 above, the
amendments to the Credit Agreement set forth in said Section 2 shall become
effective, as of the date hereof, upon the satisfaction of the following
conditions precedent:

         4.01. Execution by All Parties. This Amendment No. 2 shall have been
executed and delivered by each of the parties hereto.

         4.02. Notes and Initial Loans. The Company shall have delivered to the
Agent for each of the New Lenders a promissory note of the Company in
substantially the form of Exhibit A-1 to the Credit Agreement, dated the date of
the Notes delivered pursuant to Section 2.07 of the Credit Agreement, payable to
the order of such Lender in a principal amount equal to its Revolving Credit
Commitment and otherwise duly completed, and each of such promissory notes (a
"New Note") shall constitute a "Note" under the Credit Agreement as amended
hereby. In addition, the Company shall have borrowed from, and each of the New
Lenders shall have made Revolving Credit Loans to, the Company, and
(notwithstanding the provisions of Section 4.02 of the Credit Agreement
requiring that prepayments be made ratably in accordance with the principal
amounts of the Revolving Credit Loans held by the Lenders) the Company shall
have prepaid Revolving Credit Loans (solely with proceeds of such Revolving
Credit Loans

                                       8

<PAGE>

made by such New Lenders) made by the other Lenders in such amounts as shall be
necessary, together with accrued interest and any amounts payable under Section
5.05 of the Credit Agreement, so that after giving effect to such Revolving
Credit Loans and prepayments, the Revolving Credit Loans shall be held by the
Lenders pro rata in accordance with the respective amounts of their Revolving
Credit Commitments (as increased hereby).

         4.03. Documents. The Agent shall have received the following documents,
each of which shall be satisfactory to the Agent in form and substance:

                  (1) Corporate Documents. Certified copies of the charter and
         by-laws (or equivalent documents) of each Obligor (or, in the
         alternative, a certification to the effect that none of such documents
         has been modified since delivery thereof on the Closing Date pursuant
         to the Credit Agreement) and of all corporate authority for each
         Obligor (including, without limitation, board of director resolutions
         and evidence of the incumbency of officers for each Obligor) with
         respect to the execution, delivery and performance of this Amendment
         No. 2 and the Credit Agreement as amended hereby and the extensions of
         credit under the Credit Agreement as amended hereby, the New Notes and
         each other document to be delivered by each Obligor from time to time
         in connection with the Credit Agreement as amended hereby (and the
         Agent and each Lender may conclusively rely on such certificate until
         it receives notice in writing from each Obligor to the contrary).

                  (2) Opinion of Counsel to the Obligors. An opinion of Goodwin,
         Procter LLP, counsel to the Obligors, with respect to the Credit
         Agreement as amended by this Amendment No. 2.

                  (3) Other Documents. Such other documents as the Agent or any
         Lender or special New York counsel to ING may reasonably request.

         4.04. Fees. The Agent shall have received from the Company the fees
that the Company shall have agreed to pay in connection with this Amendment No.
2.

         SECTION 5. Joinder. Effective as of the date hereof, each of Tomco
Products, Inc., U.S. Para Plate Corporation, Hoke-International, Ltd., Circor
Securities Corp., Circor Business Trust, and Circor German Holdings LLC agrees
that it shall be a "Subsidiary Guarantor" and an "Obligor" under the Credit
Agreement, and agrees to be bound by all of the provisions of the Credit
Agreement as a Subsidiary Guarantor and an Obligor.

         SECTION 6. Miscellaneous. Except as herein provided, the Credit
Agreement shall remain unchanged and in full force and effect. This Amendment
may be executed in any number of counterparts, all of which taken together shall
constitute one and the same instrument and any of the parties hereto may execute
this Amendment by signing any such counterpart. This Amendment shall be governed
by, and construed in accordance with, the law of the State of New York.

                                       9

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed and delivered as of the day and year first above written.

                                 CIRCOR INTERNATIONAL, INC.

                                 By   /s/   Kenneth W. Smith
                                      -----------------------------------------
                                      Title: Vice President, CFO & Treasurer

                                 SUBSIDIARY GUARANTORS

                                 CIRCOR, INC.

                                 By   /s/  Kenneth W. Smith
                                    -------------------------------------------
                                      Name:  Kenneth W. Smith
                                      Title: Vice President & Treasurer

                                 CIRCOR BUSINESS TRUST

                                 By   /s/  Kenneth W. Smith
                                    -------------------------------------------
                                      Name:  Kenneth W. Smith
                                      Title: Vice President & Treasurer

                                 CIRCOR GERMAN HOLDINGS LLC

                                 By    /s/ David A. Bloss, Sr.
                                      ----------------------- -----------------
                                      Name:  David A. Bloss, Sr.
                                      Title: Director

                                       10

<PAGE>

                                  CIRCOR IP HOLDING CO.

                                  By   /s/  Kenneth W. Smith
                                     ----------------------------------------
                                       Name:  Kenneth W. Smith
                                       Title: Vice President & Treasurer

                                  CIRCLE SEAL CONTROLS, INC.

                                  By   /s/  Kenneth W. Smith
                                     ----------------------------------------
                                       Name:  Kenneth W. Smith
                                       Title: Vice President & Treasurer

                                  CIRCLE SEAL CORPORATION

                                  By   /s/  Kenneth W. Smith
                                     ----------------------------------------
                                       Name:  Kenneth W. Smith
                                       Title: Vice President & Treasurer

                                  CIRCOR SECURITIES CORP.

                                  By   /s/  Kenneth W. Smith
                                     ----------------------------------------
                                       Name:  Kenneth W. Smith
                                       Title: Vice President & Treasurer

                                  HOKE, INC.

                                  By   /s/  Kenneth W. Smith
                                     ----------------------------------------
                                       Name:  Kenneth W. Smith
                                       Title: Vice President & Treasurer

                                  HOKE-INTERNATIONAL, LTD.

                                  By   /s/  Kenneth W. Smith
                                     ----------------------------------------
                                       Name:  Kenneth W. Smith
                                       Title: Vice President & Treasurer

                                       11

<PAGE>

                                  KF INDUSTRIES, INC.

                                  By   /s/  Kenneth W. Smith
                                     ----------------------------------------
                                       Name:  Kenneth W. Smith
                                       Title: Vice President & Treasurer

                                  KF SALES CORPORATION

                                  By   /s/  Kenneth W. Smith
                                     ----------------------------------------
                                       Name:  Kenneth W. Smith
                                       Title: Vice President & Treasurer

                                  LESLIE CONTROLS, INC.

                                  By   /s/  Kenneth W. Smith
                                     ----------------------------------------
                                       Name:  Kenneth W. Smith
                                       Title: Vice President & Treasurer

                                  SPENCE ENGINEERING COMPANY, INC.

                                  By   /s/  Kenneth W. Smith
                                     ----------------------------------------
                                       Name:  Kenneth W. Smith
                                       Title: Vice President & Treasurer

                                  TOMCO PRODUCTS, INC.

                                  By   /s/  Kenneth W. Smith
                                     ----------------------------------------
                                       Name:  Kenneth W. Smith
                                       Title: Vice President & Treasurer

                                  U.S. PARA PLATE CORPORATION

                                  By   /s/  Kenneth W. Smith
                                     ----------------------------------------
                                       Name:  Kenneth W. Smith
                                       Title: Vice President & Treasurer

                                       12

<PAGE>

Revolving Credit Commitment:                 ING CAPITAL LLC
---------------------------
$25,000,000

                                             By  /s/  Thomas R. Hobbis
                                                --------------------------------
                                                  Name:  Thomas R. Hobbis
                                                  Title: Director

Revolving Credit Commitment:                 BANKNORTH, N.A.
---------------------------
$20,000,000

                                             By  /s/  Jon R. Sundstrom
                                                 --------------------- ---------
                                                  Name:  Jon R. Sundstrom
                                                  Title:  Senior Vice President

Revolving Credit Commitment:                 KEYBANK NATIONAL ASSOCIATION
---------------------------
$20,000,000

                                             By  /s/ Lisa Hudson
                                                 -------------------------------
                                                 Name: Lisa Hudson
                                                 Title: Vice President

Revolving Credit Commitment:                 BANCA NAZIONALE DEL LAVORO S.P.A.
---------------------------
$10,000,000

                                             By   /s/ Leonardo Valentini
                                                  ------------------------------
                                                  Name:  Leonardo Valentini
                                                  Title:  First Vice President

                                             By   /s/  Francesco Di Mario
                                                  ------------------------------
                                                  Name: Francesco Di Mario
                                                  Title: Vice President

                                       13

<PAGE>

                               ING CAPITAL LLC, as Agent

                               By    /s/ Thomas R. Hobbis
                                     -----------------------------------------
                                     Name: Thomas R. Hobbis  Title:  Director

                                       14

<PAGE>

                                                                       EXHIBIT A

                         FORM OF ADDED LENDER AGREEMENT

Date:
      ------------------------------

ING Capital LLC
  as Agent
55 East Fifty-second Street
New York, New York  10022

Circor International, Inc.
35 Corporate Drive
Burlington, Massachusetts  01803

Ladies and Gentlemen:

         We refer to the Credit Agreement dated as of October 18, 1999 (as
amended, restated, modified, supplemented or renewed from time to time, the
"Credit Agreement") among Circor International, Inc. (the "Borrower"), the
Lenders referred to therein, and ING Capital LLC, as agent (in such capacity,
the "Agent"). Terms defined in the Credit Agreement are used herein as therein
defined.

         This Added Lender Agreement is made and delivered pursuant to Section
2.03(e) of the Credit Agreement.

         Subject to the terms and conditions of Section 2.03(e) of the Credit
Agreement, _________________________________ (the "Added Lender") will become a
party to the Credit Agreement as a Lender, with a Revolving Credit Commitment
equal to $_______________ , on __________ , 200__ (the "Increased Commitment
Date"). The Added Lender hereby confirms and agrees that with effect on and
after the Increased Commitment Date, the Added Lender shall be and become a
party to the Credit Agreement as a Lender and have all of the rights and be
obligated to perform all of the obligations of a Lender thereunder with a
Commitment in the amount set forth above.

         Effective on the Increased Commitment Date, the Added Lender (i)
accepts and assumes from the other Lenders, without recourse, such assignment of
Revolving Credit Loans as shall be necessary to effectuate the adjustments in
the outstanding aggregate amount of the Revolving Credit Loans contemplated by
Section 2.03(e) of the Credit Agreement, and (ii) agrees to fund on the
Increased Commitment Date such assumed amounts of Revolving Credit Loans to the
Agent for the account of the assigning Lenders in accordance with the provisions
of the Credit Agreement, in the amount notified to the Added Lender by the
Agent.

         The following administrative details apply to the Added Lender:

         (A)    Lending Office(s):
                -----------------

                Lender name: ------------------------------

                                       15

<PAGE>

                  Lender name:          ----------------------------------
                  Address:              ----------------------------------
                                        ----------------------------------
                                        ----------------------------------
                                        ----------------------------------
                  Attention:            ----------------------------------
                  Telephone:            (   )
                                        ----------------------------------
                  Facsimile:            (   )
                                        ----------------------------------
                  Lender name:          ----------------------------------
                  Address:              ----------------------------------
                                        ----------------------------------
                                        ----------------------------------
                                        ----------------------------------
                  Attention:            ----------------------------------
                  Telephone:           (   )
                                        ----------------------------------
                  Facsimile:           (   )
                                        ----------------------------------

         (B)      Notice Address:
                  --------------

                  Lender name:         ----------------------------------
                  Address:             ----------------------------------
                                       ----------------------------------
                                       ----------------------------------
                                       ----------------------------------
                  Attention:           ----------------------------------
                  Telephone:           (   )
                                       ----------------------------------
                  Facsimile:           (   )
                                       ----------------------------------

         (C)      Payment Instructions:

                  Account No.:         ----------------------------------
                  At:                  ----------------------------------
                                       ----------------------------------
                                       ----------------------------------
                                       ----------------------------------
                  Reference:           ----------------------------------
                  Attention:           ----------------------------------

         This Added Lender Agreement shall constitute a Basic Document under the
Credit Agreement.

                                       16

<PAGE>

         THIS ADDED LENDER AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

                                       17

<PAGE>

     IN WITNESS WHEREOF, the Added Lender has caused this Added Lender Agreement
to be duly executed and delivered in ________________, 200__, by its duly
authorized officer as of the day and year first above written.

                                     [ADDED LENDER]

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

CONSENTED TO as of                                   :
                   ----------------------------------

CIRCOR INTERNATIONAL, INC.

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

ING CAPITAL LLC,
  as Agent

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

                                       18CUSIP
                         SOUTHWEST MORTGAGE CORPORATION

              INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

                                                               SEE REVERSE FOR
                                  COMMON STOCK               CERTAIN DEFINITIONS

                                    SPECIMAN

This
certifies
that

is the owner of

FULLY PAID AND NON-ASSESSABLE SHARES OF THE COMMON STOCK, $0.0001 PAR VALUE, OF
                         SOUTHWEST MORTGAGE CORPORATION

(hereinafter  called  the  "Corporation"),  transferable  on  the  books  of the
Corporation by the holder hereof in person or by duly authorized attorney,  upon
surrender of the Certificate properly endorsed.  This certificate and the shares
represented hereby are issued and shall be held subject to all the provisions of
the Certificate of Incorporation  and the Bylaws of the Corporation,  as amended
(copies of which are on file at the  office of the  Transfer  Agent),  to all of
which  the  holder  of this  Certificate  by  acceptance  hereof  assents.  This
Certificate  is not valid unless  countersigned  and  registered by the Transfer
Agent and  Registrar.  Witness  the  facsmile  seal of the  Corporation  and the
facsimile signatures of its duly authorized officers.

DATE:

                            [CORPORATE SEAL OMITTED]

                               Countersigned:
PRESIDENT                                    SECURITIES TRANSFER CORPORATION
                                             P.O. Box 701629
                                             Dallas, TX 75370
                                          By:

SECRETARY                                    ___________________________________
                                             TRANSFER AGENT-AUTHORIZED SIGNATURE

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