Document:

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                                                                    Exhibit 4.10

================================================================================

                               GUARANTEE AGREEMENT

                                     Between

                            THE B.F.GOODRICH COMPANY

                                       and

                              THE BANK OF NEW YORK

                            Dated as of July 12, 1999

================================================================================

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                               CROSS-REFERENCE TABLE*
                               ----------------------

          Section of
          Trust Indenture Act                 Section of
          of 1939, as amended                 Guarantee Agreement
          -------------------                 -------------------

         310(a) ..........................  4.01(a)
         310(b) ..........................  4.01(c), 2.08
         310(c) ..........................  4.01(a)
         311(a) ..........................  2.02(b)
         311(b) ..........................  2.02(b)
         311(c) ..........................  Inapplicable
         312(a) ..........................  2.02(a)
         312(b) ..........................  2.02(b)
         313    ..........................  2.03
         314(a) ..........................  2.04
         314(b) ..........................  Inapplicable
         314(c) ..........................  2.05
         314(d) ..........................  Inapplicable
         314(e) ..........................  1.01, 2.05, 3.02
         314(f) ..........................  2.01, 3.02
         315(a) ..........................  3.01(d)
         315(b) ..........................  2.07
         315(c) ..........................  3.01
         315(d) ..........................  3.01(d)
         316(a) ..........................  1.01, 2.06, 5.04
         316(b) ..........................  5.03
         317(a) ..........................  Inapplicable
         317(b) ..........................  Inapplicable
         318(a) ..........................  2.01(b)
         318(b) ..........................  2.01
         318(c) ..........................  2.01(a)

___________________

* This Cross-Reference Table does not constitute part of the Guarantee Agreement
and shall not affect the interpretation of any of its terms or provisions.

                                        i

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                       TABLE OF CONTENTS
                       -----------------

                                                      Page
                                                      ----
      ARTICLE I

    Definitions
    -----------

  SECTION 1.01.    Definitions ....................................    2

      ARTICLE II

    Trust Indenture Act
    -------------------

  SECTION 2.01.    Trust Indenture Act; Application ...............    6

  SECTION 2.02.    Lists of Holders ...............................    6

  SECTION 2.03.    Reports by the Guarantee Trustee ...............    6

  SECTION 2.04.    Periodic Reports to the Guarantee Trustee ......    7

  SECTION 2.05.    Evidence of Compliance with Conditions
                     Precedent ....................................    7

  SECTION 2.06.    Events of Default; Waiver ......................    7

  SECTION 2.07.    Event of Default; Notice .......................    7

  SECTION 2.08.    Conflicting Interests ..........................    7

      ARTICLE Ill

  Powers, Duties and Rights of the
  --------------------------------
      Guarantee Trustee
      -----------------

  SECTION 3.01.    Powers and Duties of the Guarantee Trustee .....    8

  SECTION 3.02.    Certain Rights of Guarantee Trustee ............    9

  SECTION 3.03.    Indemnity ......................................   11

  SECTION 3.04.    Expenses .......................................   11

                                       ii

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      ARTICLE IV

    Guarantee Trustee
    -----------------

  SECTION 4.01.    Guarantee Trustee; Eligibility ............  11

  SECTION 4.02.    Appointment, Removal and
                     Resignation of the Guarantee
                     Trustee .................................  12

      ARTICLE V

       Guarantee
       ---------

  SECTION 5.01.    Guarantee .................................  12

  SECTION 5.02.    Waiver of Notice and Demand ...............  13

  SECTION 5.03.    Obligations Not Affected ..................  13

  SECTION 5.04.    Rights of Holders .........................  14

  SECTION 5.05.    Guarantee of Payment ......................  14

  SECTION 5.06.    Subrogation ...............................  14

  SECTION 5.07.    Independent Obligations ...................  14

       ARTICLE VI

  Covenants and Subordination
  ---------------------------

  SECTION 6.01.    Subordination .............................  15

  SECTION 6.02.    Pari Passu Guarantees .....................  15

      ARTICLE VII

  Consolidation, Merger, Conveyance, Transfer or Lease
  ----------------------------------------------------

  SECTION 7.01.    Company May Consolidate, Etc., Only
                     on Certain Terms ........................  15

                                        iii

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      ARTICLE VIII

        Termination
        -----------

  SECTION 8.01.    Termination ..............................   16

      ARTICLE IX

      Miscellaneous
      -------------

  SECTION 9.01.    Successors and Assigns ...................   16

  SECTION 9.02.    Amendments ...............................   16

  SECTION 9.03.    Notices ..................................   16

  SECTION 9.04.    Benefit ..................................   18

  SECTION 9.05.    Interpretation ...........................   18

  SECTION 9.06.    Governing Law ............................   18

                                         iv

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         GUARANTEE AGREEMENT, dated as of July 12, 1999, executed and delivered
by THE B.F.GOODRICH COMPANY, a New York corporation (the "Guarantor"), and THE
BANK OF NEW YORK, a New York banking corporation, as trustee (the "Guarantee
Trustee"), for the benefit of the Holders (as defined herein) from time to time
of the Convertible Preferred Securities (as defined herein) of COLTEC CAPITAL
TRUST, a Delaware statutory business trust (the "Issuer").

         WHEREAS, pursuant to an Amended and Restated Declaration of Trust (the
"Declaration"), dated as of April 14, 1998, executed by Coltec Industries Inc,
as sponsor ("Coltec Industries"), The Bank of New York (Delaware), as Delaware
Trustee, The Bank of New York, as Property Trustee, and the Administrative
Trustees named therein, the Issuer issued $150,000,000 aggregate liquidation
amount of its 5 1/4% Convertible Preferred Securities, Term Income Deferrable
Equity Securities (TIDES(SM))* liquidation amount $50 per security (the
"Convertible Preferred Securities"), and $4,639,200 aggregate liquidation amount
of its Common Securities, liquidation amount $50 per security (the "Common
Securities" and, collectively with the Convertible Preferred Securities, the
"Trust Securities"), representing undivided beneficial ownership interests in
the assets of the Issuer and having the terms set forth in the Declaration;

         WHEREAS, the Trust Securities were issued by the Issuer and the
proceeds thereof were used to purchase the 5 1/4% Convertible Junior
Subordinated Debentures due April 15, 2028 (as defined in the Declaration) (the
"Convertible Junior Subordinated Debentures") of Coltec Industries which were
deposited with the Property Trustee under the Declaration, as trust assets;

         WHEREAS, Coltec Industries owns all of the outstanding Common
Securities of Coltec Capital Trust and each Convertible Preferred Security is
convertible, at the option of the Holder, into 1.7058 shares of Coltec
Industries common stock, subject to certain adjustments;

         WHEREAS, pursuant to an Agreement and Plan of Merger dated as of
November 22, 1998 among Guarantor, Runway Acquisition Corporation, a wholly
owned subsidiary of Guarantor, and Coltec Industries (the "Merger Agreement"),
Coltec Industries merged with Runway Acquisition Corporation, and Coltec
Industries became a wholly owned subsidiary of Guarantor;

        WHEREAS, in the Merger Agreement, Guarantor agreed to take those
actions required to permit Coltec Industries to give the Holders of Convertible
Preferred Securities the right to convert each of those securities into
0.955248 of a share of Guarantor common stock, subject to certain adjustments;
and

___________________________

* The terms Term Income Deferrable Equity Securities (TIDES)(SM) and TIDES(SM)
are registered service marks of Credit Suisse First Boston Corporation.

<PAGE>

         WHEREAS, the Guarantor desires irrevocably and unconditionally to
agree, to the extent set forth herein, to provide certain assurances with
respect to the Trust Securities, including its agreement (i) to pay to the
Holders of the Trust Securities the Guarantee Payments (as defined herein) and
to make certain other payments on the terms and conditions set forth herein and
(ii) to otherwise guarantee the performance of the obligations of Coltec
Industries under (w) the Guarantee Agreement, dated as of April 14, 1998 (the
"Coltec Guarantee Agreement"), between Coltec Industries and The Bank of New
York, (x) the Indenture, (y) the Convertible Junior Subordinated Debentures, and
(z) the Declaration;

         NOW, THEREFORE, intending to be legally bound hereby, the Guarantor
executes and delivers this Guarantee Agreement for the benefit of the Holders
from time to time of the Trust Securities.

                                     ARTICLE I

                                    Definitions
                                    -----------

         SECTION 1.01. DEFINITIONS. As used in this Guarantee Agreement, the
terms set forth below shall, unless the context otherwise requires, have the
following meanings. Capitalized or otherwise defined terms used but not
otherwise defined herein shall have the meanings assigned to such terms in the
Declaration as in effect on the date hereof.

         "Affiliate" of any specified Person means any other Person directly or
indirectly controlling or controlled by or under direct or indirect common
control with such specified Person; PROVIDED, HOWEVER, that the Issuer shall be
deemed not to be an Affiliate of the Guarantor. For the purposes of this
definition, "control" when used with respect to any specified Person means the
power to direct the management and policies of such Person, directly or
indirectly, whether through the ownership of voting securities, by contract or
otherwise; the terms "controlling" and "controlled" have meanings correlative to
the foregoing.

         "Coltec Guarantee Agreement" has the meaning specified in the sixth
recital to this Guarantee Agreement.

         "Coltec Industries" has the meaning specified in the first recital to
this Guarantee Agreement.

         "Common Securities" has the meaning specified in the first recital of
this Guarantee Agreement.

         "Convertible Junior Subordinated Debentures" has the meaning specified
in the second recital of this Guarantee Agreement.

         "Convertible Preferred Securities" has the meaning specified in the
first recital of this Guarantee Agreement.

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         "Debt" means (i) the principal of, premium, if any, unpaid interest
(including interest accruing on or after the filing of any petition in
bankruptcy or for reorganization relating to the Guarantor at the relevant
contracted rate specified in the documentation for the relevant Debt whether or
not such claim for post-petition interest is allowed in such proceeding) on, and
all other Obligations relating to, indebtedness for money borrowed (including
any guarantee relating to the foregoing obligations), (ii) purchase money and
similar obligations, (iii) obligations under capital lease, letters of credit
and reimbursement obligations relating thereto, (iv) guarantees, assumptions or
purchase commitments relating to, or other transactions as a result of which the
Guarantor is responsible for the payment of such indebtedness of others, (v)
renewals, extensions and refundings of any such indebtedness, (vi) interest or
obligations in respect of any such indebtedness accruing after the commencement
of any insolvency or bankruptcy proceedings (at the relevant contractual rate
specified in the documentation therefor, whether or not such claim for
post-petition interest is allowed in such proceeding), (vii) all obligations to
make payment pursuant to the terms of financial instruments, such as (a)
securities contracts and foreign currency exchange contracts, (b) derivative
instruments, such as swap agreements (including interest rate and foreign
exchange rate swap agreements), cap agreements, floor agreements, collar
agreements, interest rate agreements, foreign exchange agreements, options,
commodity futures contracts and commodity options contracts and (c) similar
financial instruments, and (viii) any deferrals, renewals or extensions of any
such Debt.

         "Declaration" has the meaning specified in the first recital to this
Guarantee Agreement.

         "Event Of Default" means a default by the Guarantor on any of its
payment or other obligations under this Guarantee Agreement; PROVIDED, HOWEVER,
that, except with respect to a default in payment of any Guarantee Payments, the
Guarantor shall have received notice of default and shall not have cured such
default within 60 days after receipt of such notice.

         "Guarantee Payments" means the following payments or distributions,
without duplication, with respect to the Convertible Preferred Securities, to
the extent not paid or made by or on behalf of the Issuer: (i) any accrued and
unpaid Distributions (as defined in the Declaration) required to be paid on the
Trust Securities, to the extent the Issuer shall have funds on hand available
therefor at such time; (ii) the redemption price, including all accrued and
unpaid Distributions to the date of redemption (the "Redemption Price"), with
respect to the Trust Securities called for redemption by the Issuer to the
extent the Issuer shall have funds on hand available therefor at such time; and
(iii) upon a voluntary or involuntary dissolution, winding-up or liquidation of
the Issuer, unless Convertible Junior Subordinated Debentures are distributed to
the Holders of the Trust Securities or all the Trust Securities are redeemed,
the lesser of (a) the aggregate of the liquidation amount of $50 per Trust
Security plus accrued and unpaid Distributions on the Trust Securities to the
date of payment (the "Liquidation Distribution") to the extent the Issuer shall
have funds on hand available to make such payment at such time and (b) the
amount of assets of the Issuer remaining available for distribution to Holders
of the Trust Securities upon liquidation of the Issuer after satisfaction of
liabilities to creditors of the Issuer as required by applicable law.

                                         3

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         "Guarantee Trustee" means The Bank of New York, until a Successor
Guarantee Trustee has been appointed and has accepted such appointment pursuant
to the terms of this Guarantee Agreement and thereafter means each such
Successor Guarantee Trustee.

         "Guarantor" has the meaning specified in the first recital of this
Guarantee Agreement.

         "Holder" means any holder, as registered on the books and records of
the Issuer, of any Trust Securities; PROVIDED, HOWEVER, that in determining
whether the holders of the requisite percentage of Trust Securities have given
any request, notice, consent or waiver hereunder, "Holder" shall not include the
Guarantor, the Guarantee Trustee, or any Affiliate of the Guarantor or the
Guarantee Trustee.

         "Indenture" means the Indenture dated as of April 14, 1998, as amended
or supplemented, between Coltec Industries and The Bank of New York, as trustee,
relating to the issuance of Convertible Junior Subordinated Debentures.

         "Issuer" has the meaning specified in the first recital of this
Guarantee Agreement.

         "List of Holders" has the meaning specified in Section 2.02(a).

         "Majority in liquidation amount of the Trust Securities" means, except
as provided by the Trust Indenture Act, a vote by the Holders, voting separately
as a class, of more than 50% of the aggregate liquidation amount of all then
outstanding Trust Securities issued by the Issuer.

         "Obligations" means all obligations for principal, premium, interest,
penalties, fees, indemnifications, reimbursements, damages and other liabilities
payable under, or with respect to, the documentation governing any Debt.

         "Officers' Certificate" means, with respect to any Person, a
certificate signed by the Chairman and Chief Executive Officer, the President or
any Vice President, and by the Treasurer, any Assistant Treasurer, the
Controller, the Secretary or an Assistant Secretary of such Person, and
delivered to the Guarantee Trustee. Any Officers' Certificate delivered with
respect to compliance with a condition or covenant provided for in this
Guarantee Agreement shall include:

                  (a) a statement that each officer signing the Officers'
         Certificate has read the covenant or condition and the definitions
         relating thereto;

                  (b) a brief statement as to the nature and scope of the
         examination or investigation upon which the statements or opinions
         contained in the Officers' Certificate are based;

                                        4

<PAGE>

                  (c) a statement that each officer has made such examination or
         investigation as, in such officer's opinion, is necessary to enable
         such officer to express an informed opinion as to whether or not such
         covenant or condition has been complied with; and

                  (d) a statement as to whether, in the opinion of each officer,
         such condition or covenant has been complied with.

         "Person" means a legal person, including any individual, corporation,
estate, partnership, joint venture, association, joint stock company, limited
liability company, trust, unincorporated association, or government or any
agency or political subdivision thereof, or any other entity of whatever nature.

         "Responsible Officer," when used with respect to the Guarantee Trustee,
means any officer assigned to the Corporate Trust Office, including any vice
president, assistant vice president, assistant treasurer, assistant secretary or
any other officer of the Guarantee Trustee customarily performing functions
similar to those performed by any of the above designated officers and having
direct responsibility for the administration of this Guarantee Agreement, and
also, with respect to a particular matter, any other officer to whom such matter
is referred because of such officer's knowledge of and familiarity with the
particular subject.

         "Senior Debt" means any Debt of the Guarantor, whether outstanding on
the date of execution of the Indenture or thereafter created, assumed or
incurred, except such Debt that is expressly stated to rank junior in right of
payment to, or PARI PASSU in right of payment with, the Convertible Junior
Subordinated Debentures (or any guarantee thereof); PROVIDED, HOWEVER, that
Senior Debt shall not be deemed to include (a) any Debt of the Guarantor which,
when incurred and without respect to any election under Section 1111(b) of the
United States Bankruptcy Code of 1978, was without recourse to the Guarantor,
(b) trade accounts payable and accrued liabilities arising in the ordinary
course of business, (c) any Debt of the Guarantor to any of its subsidiaries,
(d) any Debt to any employee of the Guarantor or (e) any obligations of
Guarantor pursuant to a guarantee agreement or any other agreement or
arrangement relating to B.F.Goodrich Capital Trust's 8.3% Cumulative Quarterly
Income Preferred Securities, Series A issued on June 29, 1995 (the "BFG
QUIPS(SM)")*.

         "Successor Guarantee Trustee" means a successor Guarantee Trustee
possessing the qualifications to act as Guarantee Trustee under Section 4.01.

         "Trust Indenture Act" means the Trust Indenture Act of 1939 (15 U.S.C.
secs. 77aaa-77bbbb), as amended.

         "Trust Securities" has the meaning specified in the first recital of
this Guarantee Agreement.

_______________________________

  * QUIPS(SM) is a service mark of Goldman, Sachs & Co.

                                       5
<PAGE>

                                   ARTICLE II

                               Trust Indenture Act
                               -------------------

         SECTION 2.01. TRUST INDENTURE ACT; APPLICATION. (a) This Guarantee
Agreement will be qualified under the Trust Indenture Act upon the effectiveness
of a registration statement with respect to this Guarantee Agreement. This
Guarantee Agreement incorporates certain provisions of the Trust Indenture Act
identified in the Cross-Reference Table set forth in this Guarantee Agreement.

         (b) Upon qualification under the Trust Indenture Act as contemplated in
clause (a) above, if and to the extent that any provision of this Guarantee
Agreement limits, qualifies or conflicts with the duties imposed by Sections 310
to 317, inclusive, of the Trust Indenture Act, such imposed duties shall
control.

         SECTION 2.02. LIST OF HOLDERS. (a) At the request of the Guarantee
Trustee, the Guarantor shall furnish or cause to be furnished to the Guarantee
Trustee (i) semiannually, on or before February 1st and August 1st of each year,
a list, in such form as the Guarantee Trustee may reasonably require, of the
names and addresses of the Holders ("List of Holders") as of a date not more
than 15 days prior to the delivery thereof, and (ii) at such other times as the
Guarantee Trustee may request in writing, within 30 days after the receipt by
the Guarantor of any such request, a List of Holders as of a date not more than
15 days prior to the time such list is furnished, in each case to the extent
such information is in the possession or control of the Guarantor and is not
identical to a previously supplied list of Holders or has not otherwise been
received by the Guarantee Trustee in its capacity as such. The Guarantee Trustee
may destroy any List of Holders previously given to it on receipt of a new List
of Holders.

         (b) The Guarantee Trustee shall comply with its obligations under
Section 311(a), Section 311(b) and Section 312(b) of the Trust Indenture Act.

         SECTION 2.03. REPORTS BY THE GUARANTEE TRUSTEE. (a) The Guarantee
Trustee shall transmit to Holders such reports concerning the Guarantee Trustee
and its actions under this Guarantee as may be required pursuant to the Trust
Indenture Act, at the times and in the manner provided pursuant thereto,

         (b) Reports so required to be transmitted at stated intervals of not
more than 12 months shall be transmitted no later than May 15th in each calendar
year, commencing with May 15, 2000.

         (c) A copy of each such report shall, at the time of such transmission
to Holders, be filed by the Guarantee Trustee with each securities exchange upon
which the Convertible Preferred Securities are listed and also with the
Securities and Exchange Commission. The Guarantor will promptly notify the
Guarantee Trustee whenever the Convertible Preferred Securities are listed on
any securities exchange.

                                         6

<PAGE>

         SECTION 2.04. PERIODIC REPORTS TO THE GUARANTEE TRUSTEE. The Guarantor
shall provide to the Guarantee Trustee, and, if required by the Trust Indenture
Act, to the Securities and Exchange Commission and the Holders, such documents,
reports and information, if any, as required by Section 314 of the Trust
Indenture Act and the compliance certificate required by Section 314 of the
Trust Indenture Act, in the form, in the manner and at the times required by
Section 314 of the Trust Indenture Act. The Guarantor shall file annually with
the Guarantee Trustee a certificate as to whether or not the Guarantor is in
compliance with all the conditions and covenants applicable to it under this
Guarantee Agreement.

         SECTION 2.05. EVIDENCE OF COMPLIANCE WITH CONDITIONS PRECEDENT. The
Guarantor shall provide to the Guarantee Trustee such evidence of compliance
with such conditions precedent, if any, provided for in this Guarantee Agreement
that relate to any of the matters set forth in Section 314(c) of the Trust
Indenture Act. Any certificate or opinion required to be given by any officer
pursuant to Section 3 14(c)(1) may be given in the form of an Officers'
Certificate.

         SECTION 2.06. EVENTS OF DEFAULT; WAIVER. The Holders of a Majority in
liquidation amount of the Convertible Preferred Securities may, by vote, on
behalf of the Holders, waive any past Event of Default and its consequences.
Upon such waiver, any such Event of Default shall cease to exist, and any Event
of Default arising therefrom shall be deemed to have been cured, for every
purpose of this Guarantee Agreement, but no such waiver shall extend to any
subsequent or other default or Event of Default or impair any right consequent
therefrom.

         SECTION 2.07. EVENT OF DEFAULT; NOTICE. (a) The Guarantee Trustee
shall, within 90 days after the occurrence of an Event of Default, transmit by
mail, first class postage prepaid, to the Holders, notices of all Events of
Default known to a Responsible Officer of the Guarantee Trustee, unless such
Events of Default actually have been cured before the giving of such notice;
PROVIDED, that, except in the case of a default in the payment of a Guarantee
Payment, the Guarantee Trustee shall be protected in withholding such notice if
and so long as the Board of Directors, the executive committee or a trust
committee of directors and/or Responsible Officers in good faith determine that
the withholding of such notice is in the interests of the Holders.

         (b) The Guarantee Trustee shall not be deemed to have knowledge of any
Event of Default unless a Responsible Officer charged with the administration of
the Guarantee shall have received written notice of such Event of Default.

         SECTION 2.08. CONFLICTING INTERESTS. The Declaration shall be deemed to
be specifically described in this Guarantee Agreement for the purposes of clause
(i) of the first proviso contained in Section 310(b) of the Trust Indenture Act.

                                       7
<PAGE>

                                    ARTICLE III

                        Powers, Duties and Rights of the
                        --------------------------------
                                Guarantee Trustee
                                -----------------

         SECTION 3.01. POWERS AND DUTIES OF THE GUARANTEE TRUSTEE. (a) This
Guarantee Agreement shall be held by the Guarantee Trustee for the benefit of
the Holders, and the Guarantee Trustee shall not transfer this Guarantee
Agreement to any Person except a Holder exercising his or her rights pursuant to
Section 5.04(iv) hereof or to a Successor Guarantee Trustee on acceptance by
such Successor Guarantee Trustee of its appointment to act as Successor
Guarantee Trustee. The right, title and interest of the Guarantee Trustee shall
automatically vest in any Successor Guarantee Trustee, upon acceptance by such
Successor Guarantee Trustee of its appointment hereunder, and such vesting and
cessation of title shall be effective whether or not conveyancing documents have
been executed and delivered pursuant to the appointment of such Successor
Guarantee Trustee.

         (b) If an Event of Default has occurred and is continuing, the
Guarantee Trustee shall enforce this Guarantee Agreement for the benefit of the
Holders,

         (c) The Guarantee Trustee, before the occurrence of any Event of
Default and after the curing of all Events of Default that may have occurred,
shall undertake to perform only such duties as are specifically set forth in
this Guarantee Agreement, and no implied covenants shall be read into this
Guarantee Agreement against the Guarantee Trustee. In case an Event of Default
has occurred (that has not been cured or waived pursuant to Section 2.06), the
Guarantee Trustee shall exercise such of the rights and powers vested in it by
this Guarantee Agreement, and use the same degree of care and skill in its
exercise thereof, as a prudent person would exercise or use under the
circumstances in the conduct of his or her own affairs.

         (d) No provision of this Guarantee Agreement shall be construed to
relieve the Guarantee Trustee from liability for its own negligent action, its
own negligent failure to act or its own willful misconduct, except that:

                  (i) prior to the occurrence of any Event of Default and after
         the curing or waiving of all such Events of Default that may have
         occurred:

                           (A) the duties and obligatiOns of the Guarantee
                  Trustee shall be determined solely by the express provisions
                  of this Guarantee Agreement, and the Guarantee Trustee shall
                  not be liable except for the performance of such duties and
                  obligations as are specifically set forth in this Guarantee
                  Agreement; and

                           (B) in the absence of bad faith on the part of the
                  Guarantee Trustee, the Guarantee Trustee may conclusively
                  rely, as to the truth of the statements and the correctness of
                  the opinions expressed therein, upon any certificates or
                  opinions furnished to the Guarantee Trustee and conforming to
                  the requirements of this Guarantee Agreement; but in the case
                  of any

                                         8

<PAGE>

                  such certificates or opinions that by any provision hereof or
                  of the Trust Indenture Act are specifically required to be
                  furnished to the Guarantee Trustee, the Guarantee Trustee
                  shall be under a duty to examine the same to determine whether
                  or not they conform to the requirements of this Guarantee
                  Agreement (but need not confirm or investigate the accuracy of
                  mathematical calculations or other facts stated therein);

                  (ii) the Guarantee Trustee shall not be liable for any error
         of judgment made in good faith by a Responsible Officer of the
         Guarantee Trustee, unless it shall be proved that the Guarantee Trustee
         was negligent in ascertaining the pertinent facts upon which such
         judgment was made;

                  (iii) the Guarantee Trustee shall not be liable with respect
         to any action taken or omitted to be taken by it in good faith in
         accordance with the direction of the Holders of not less than a
         Majority in liquidation amount of the Trust relating to the time,
         method and place of conducting any proceeding for any remedy available
         to the Guarantee Trustee, or exercising any trust or power conferred
         upon the Guarantee Trustee under this Guarantee Agreement; and

                  (iv) no provision of this Guarantee Agreement shall require
         the Guarantee Trustee to expend or risk its own funds or otherwise
         incur personal financial liability in the performance of any of its
         duties or in the exercise of any of its rights or powers.

         SECTION 3.02. CERTAIN RIGHTS OF GUARANTEE TRUSTEE. (a) Subject to the
provisions of Section 3.01:

                  (i) The Guarantee Trustee may conclusively rely and shall be
         fully protected in acting or refraining from acting upon any
         resolution, certificate, statement, instrument, opinion, report,
         notice, request, direction, consent, order, bond, debenture, note,
         other evidence of indebtedness or other paper or document (whether in
         its original or facsimile form) reasonably believed by it to be genuine
         and to have been signed, sent or presented by the proper party or
         parties.

                  (ii) Any direction or act of the Guarantor contemplated by
         this Guarantee Agreement shall be sufficiently evidenced by an
         Officers' Certificate unless otherwise prescribed herein.

                  (iii) Whenever, in the administration of this Guarantee
         Agreement, the Guarantee Trustee shall deem it desirable that a matter
         relating to compliance by the Guarantor with any of its obligations
         contained in this Guarantee Agreement be proved or established before
         taking, suffering or omitting to take any action hereunder, the
         Guarantee Trustee (unless other evidence is herein specifically
         prescribed) may, in the absence of bad faith on its part, request and
         conclusively rely upon an Officers' Certificate (with respect to the
         Guarantor) which, upon

                                         9

<PAGE>

         receipt of such request from the Guarantee, Trustee, shall be promptly
         delivered by the Guarantor.

                  (iv) The Guarantee Trustee may consult with legal counsel of
         its selection, and the advice or written opinion of such legal counsel
         with respect to legal matters shall be full and complete authorization
         and protection in respect of any action taken, suffered or omitted to
         be taken by it hereunder in good faith and in accordance with such
         advice or opinion. Such legal counsel may be legal counsel to the
         Guarantor or any of its Affiliates and may be one of its employees. The
         Guarantee Trustee shall have the right at any time to seek instructions
         concerning the administration of this Guarantee Agreement from any
         court of competent jurisdiction.

                  (v) The Guarantee Trustee shall be under no obligation to
         exercise any of the rights or powers vested in it by this Guarantee
         Agreement at the request or direction of any Holder, unless such Holder
         shall have provided to the Guarantee Trustee such security and
         indemnity reasonably satisfactory to it, against the costs, expenses
         (including attorneys' fees and expenses) and liabilities that might be
         incurred by it in complying with such request or direction, including
         such reasonable advances as may be requested by the Guarantee Trustee;
         PROVIDED that nothing contained in this Section 3.02(a)(v) shall be
         taken to relieve the Guarantee Trustee, upon the occurrence of an Event
         of Default, of its obligation to exercise the rights and powers vested
         in it by this Guarantee Agreement.

                  (vi) The Guarantee Trustee shall not be bound to make any
         investigation into the facts or matters stated in any resolution,
         certificate, statement, instrument, opinion, report, notice, request,
         direction, consent, order, bond, debenture, note, other evidence of
         indebtedness or other paper or document, but the Guarantee Trustee, in
         its discretion, may make such further inquiry or investigation into
         such facts or matters as it may see fit and, if the Trustee shall
         determine to make such further inquiry or investigation, it shall be
         entitled to examine the books, records and premises of the Guarantor,
         personally or by agent or attorney at the sole cost of the Guarantor
         and shall incur no liability or additional liability of any kind by
         reason of such inquiry or investigation.

                  (vii) The Guarantee Trustee may execute any of the trusts or
         powers hereunder or perform any duties hereunder either directly or by
         or through its agents or attorneys, and the Guarantee Trustee shall not
         be responsible for any misconduct or negligence on the part of any such
         agent or attorney appointed with due care by it hereunder.

                  (viii) Whenever in the administration of this Guarantee
         Agreement the Guarantee Trustee shall deem it desirable to receive
         instructions with respect to enforcing any remedy or right or taking
         any other action hereunder, the Guarantee Trustee (A) may request
         instructions from the Holders, (B) may refrain from enforcing such
         remedy or right or taking such other action until such instructions

                                       10

<PAGE>

         are received and (C) shall be fully protected in acting in accordance
         with such instructions.

         (b) No provision of this Guarantee Agreement shall be deemed to impose
any duty or obligation on the Guarantee Trustee to perform any act or acts or
exercise any right, power, duty or obligation conferred or imposed on it in any
jurisdiction in which it shall be illegal, or in which the Guarantee Trustee
shall be unqualified or incompetent in accordance with applicable law, to
perform any such act or acts or to exercise any such right, power, duty or
obligation. No permissive power or authority available to the Guarantee Trustee
shall be construed to be a duty to act in accordance with such power and
authority.

         SECTION 3.03. INDEMNITY. The Guarantor agrees to indemnify each of the
Guarantee Trustee, any predecessor Guarantee Trustee and its directors,
officers, agents and employees for, and to hold them harmless against, any and
all loss, damage, claim, liability or expense (including taxes other than taxes
based upon the income of the Guarantee Trustee) incurred without negligence or
bad faith on the part of the Guarantee Trustee, arising out of or in connection
with the acceptance or administration of this Guarantee Agreement, including the
costs and reasonable expenses of defending itself against any claim or liability
in connection with the exercise or performance of any of its powers or duties
hereunder. The Guarantee Trustee will not claim or exact any lien or charge on
any Guarantee Payments as a result of any amount due to it under this Guarantee
Agreement. This indemnity shall survive the termination of this Guarantee
Agreement or the resignation or removal of the Guarantee Trustee.

         SECTION 3.04. EXPENSES. The Guarantor shall from time to time reimburse
the Guarantee Trustee for its expenses and costs incurred in connection with the
performance of its duties hereunder. This reimbursement obligation shall survive
the termination of this Guarantee Agreement or the resignation or removal of the
Guarantee Trustee.

                                   ARTICLE IV

                                Guarantee Trustee
                                -----------------

         SECTION 4.0 1. GUARANTEE TRUSTEE; ELIGIBILITY. (a) There shall at all
times be a Guarantee Trustee which shall:

                  (i) not be an Affiliate of the Guarantor; and

                  (ii) be a Person that is eligible pursuant to the Trust
         Indenture Act to act as such and has a combined capital and surplus of
         at least $50,000,000, and shall be a corporation meeting the
         requirements of Section 310(c) of the Trust Indenture Act. If such
         corporation publishes reports of condition at least annually, pursuant
         to law or to the requirements of the supervising or examining
         authority, then, for the purposes of this Section and to the extent
         permitted by the Trust Indenture Act, the combined capital and surplus
         of such corporation shall be deemed to be its combined capital and
         surplus as set forth in its most recent report of condition so
         published.

                                       11

<PAGE>

         (b) If at any time the Guarantee Trustee shall cease to be eligible to
so act under Section 4.10(a), the Guarantee Trustee shall immediately resign in
the manner and with the effect set out in Section 4.02(c).

         (c) If the Guarantee Trustee has or shall acquire any "conflicting
interest" within the meaning of Section 310(b) of the Trust Indenture Act, the
Guarantee Trustee and Guarantor shall in all respects comply with the provisions
of Section 310(b) of the Trust Indenture Act.

         SECTION 4.02. APPOINTMENT, REMOVAL AND RESIGNATION OF THE GUARANTEE
TRUSTEE. (a) Subject to Section 4.02(b), in the absence of the existence of an
Event of Default, the Guarantee Trustee may be appointed or removed without
cause at any time by the Guarantor.

         (b) The Guarantee Trustee shall not be removed until a Successor
Guarantee Trustee has been appointed and has accepted such appointment by
written instrument executed by such Successor Guarantee Trustee and delivered
to the Guarantor.

         (c) The Guarantee Trustee appointed hereunder shall hold office until a
Successor Guarantee Trustee shall have been appointed or until its removal or
resignation. The Guarantee Trustee may resign from office (without need for
prior or subsequent accounting) by an instrument in writing executed by the
Guarantee Trustee and delivered to the Guarantor, which resignation shall not
take effect until a Successor Guarantee Trustee has been appointed and has
accepted such appointment by instrument in writing executed by such Successor
Guarantee Trustee and delivered to the Guarantor and the resigning Guarantee
Trustee.

         (d) If no Successor Guarantee Trustee shall have been appointed and
accepted appointment as provided in this Section 4.02 within 30 days after
delivery to the Guarantor of an instrument of resignation, the resigning
Guarantee Trustee may petition, at the expense of the Guarantor, any court of
competent jurisdiction for appointment of a Successor Guarantee Trustee. Such
court may thereupon, after prescribing such notice, if any, as it may deem
proper, appoint a Successor Guarantee Trustee.

                                     ARTICLE V

                                    Guarantee
                                    ---------

         SECTION 5.01. GUARANTEE. The Guarantor irrevocably and unconditionally
agrees (i) to pay in full on a subordinated basis to the Holders the Guarantee
Payments (without duplication of amounts theretofore paid by or on behalf of the
Issuer), as and when due, regardless of any defense, right of set-off or
counterclaim which the Issuer may have or assert other than the defense of
payment and (ii) to otherwise pay or perform on a subordinated basis all
obligations of Coltec Industries under the Coltec Guarantee Agreement, the
Indenture, the Convertible Junior Subordinated Debentures, and the Declaration,
to the extent not paid or performed by Coltec Industries. The Guarantor's
obligation to make a Guarantee Payment may

                                         12

<PAGE>

be satisfied by direct payment of the required amounts by the Guarantor to the
Holders or by causing the Issuer to pay such amounts to the Holders. The
Guarantor shall give written notice to the Guarantee Trustee as promptly as
practicable in the event it makes any direct payment hereunder.

         SECTION 5.02. WAIVER OF NOTICE AND DEMAND. The Guarantor hereby waives
notice of acceptance of the Guarantee Agreement and, with respect to its
obligations under Section 5.01, hereby waives presentment, demand for payment,
any right to require a proceeding first against the Guarantee Trustee, Issuer or
any other Person before proceeding against the Guarantor, protest, notice of
nonpayment, notice of dishonor, notice of redemption and all other notices and
demands.

         SECTION 5.03. OBLIGATIONS NOT AFFECTED. The obligations, covenants,
agreements and duties of the Guarantor under this Guarantee Agreement shall in
no way be affected or impaired by reason of the happening from time to time of
any of the following:

                  (a) the release or waiver, by operation of law or otherwise,
         of the performance or observance by the Issuer of any express or
         implied agreement, covenant, term or condition relating to the Trust
         Securities to be performed or observed by the Issuer;

                  (b) the extension of time for the payment by the Issuer of all
         or any portion of the Distributions (other than any extension of time
         for payment of Distributions that results from the extension of any
         interest payment period on the Convertible Junior Subordinated
         Debentures as so provided in the Indenture), Redemption Price,
         Liquidation Distribution or any other sums payable under the terms of
         the Trust Securities or the extension of time for the performance of
         any other obligation under, arising out of, or in connection with, the
         Trust Securities;

                  (c) any failure, omission, delay or lack of diligence on the
         part of the Holders to enforce, assert or exercise any right,
         privilege, power or remedy conferred on the Holders pursuant to the
         terms of the Trust Securities, or any action on the part of the Issuer
         granting indulgence or extension of any kind;

                  (d) the voluntary or involuntary liquidation, dissolution,
         sale of any collateral, receivership, insolvency, bankruptcy,
         assignment for the benefit of creditors, reorganization, arrangement,
         composition or readjustment of debt of, or other similar proceedings
         affecting, the Issuer or any of the assets of the Issuer;

                  (e) any invalidity of, or defect or deficiency in, the Trust
         Securities;

                  (f) the settlement or compromise of any obligation guaranteed
         hereby or hereby incurred; or

                  (g) any other circumstance whatsoever that might otherwise
         constitute a legal or equitable discharge or defense of a guarantor, it
         being the intent of this Section 5.03

                                         13

<PAGE>

         that the obligations of the Guarantor hereunder shall be absolute and
         unconditional under any and all circumstances.

         There shall be no obligation of the Holders to give notice to, or
obtain the consent of, the Guarantor with respect to the happening of any of the
foregoing.

         SECTION 5.04. RIGHTS OF HOLDERS. The Guarantor expressly acknowledges
that: (i) this Guarantee Agreement will be deposited with the Guarantee Trustee
to be held for the benefit of the Holders; (ii) the Guarantee Trustee has the
right to enforce this Guarantee Agreement on behalf of the Holders; (iii) the
Holders of a Majority in aggregate liquidation amount of the Trust Securities
have the right to direct the time, method and place of conducting any proceeding
for any remedy available to the Guarantee Trustee in respect of this Guarantee
Agreement or exercising any trust or power conferred upon the Guarantee Trustee
under this Guarantee Agreement; and (iv) any Holder may institute a legal
proceeding directly against the Guarantor to enforce its rights under this
Guarantee Agreement, without first instituting a legal proceeding against the
Issuer or any other Person.

         SECTION 5.05. GUARANTEE OF PAYMENT. This Guarantee Agreement creates a
guarantee of payment and not of collection. If the Issuer fails to make payments
as required, any Holder may immediately bring suit directly against the
Guarantor for payment of all amounts due and payable under this Guarantee
Agreement. This Guarantee Agreement will apply only to the extent that the
Issuer has funds sufficient to make such payments. If Coltec Industries does not
make interest payments on the Convertible Junior Subordinated Debentures held by
the Issuer, the Issuer will not be able to pay Distributions on the Trust
Securities and will not have funds legally available therefor. This Guarantee
Agreement will not be discharged except by payment of the Guarantee Payments in
full (without duplication of amounts theretofore paid by the Issuer) or upon
distribution of Convertible Junior Subordinated Debentures tO Holders as
provided in the Declaration.

         SECTION 5.06. SUBROGATION. The Guarantor shall be subrogated to all (if
any) rights of the Holders against the Issuer in respect of any amounts paid to
the Holders by the Guarantor under this Guarantee Agreement and shall have the
right to waive payment by the Issuer pursuant to Section 5.01; PROVIDED,
HOWEVER, that the Guarantor shall not (except to the extent required by
mandatory provisions of law) be entitled to enforce or exercise any rights which
it may acquire by way of subrogation or any indemnity, reimbursement or other
agreement, in all cases as a result of payment under this Guarantee Agreement,
if at the time of any such payment, any amounts are due and unpaid under this
Guarantee Agreement. If any amount shall be paid to the Guarantor in violation
of the preceding sentence, the Guarantor agrees to hold such amount in trust for
the Holders and to pay over such amount to the Holders. Any amounts paid over to
and not subsequently recovered from the Holders pursuant to any insolvency law
shall be deemed to have been applied by the Holders to the Guarantee Payments.

         SECTION 5.07. INDEPENDENT OBLIGATIONS. The Guarantor acknowledges that
its obligations hereunder are independent of the obligations of the Issuer with
respect to the Trust Securities and that the Guarantor shall (without
duplication of amounts paid by or on behalf of the Issuer) be liable as
principal and as debtor hereunder to make Guarantee Payments pursuant

                                       14
<PAGE>

to the terms of this Guarantee Agreement notwithstanding the occurrence of any
event referred to in subsections (a) through (g), inclusive, of Section 5.03
hereof.

                                  ARTICLE VI

                         Covenants and Subordination
                         ---------------------------

         SECTION 6.01. SUBORDINATION. This Guarantee Agreement will constitute
an unsecured obligation of the Guarantor and will rank subordinate and junior in
right of payment to all Senior Debt of the Guarantor.

         SECTION 6.02. PARI PASSU GUARANTEES. The obligations under this
Guarantee Agreement shall rank PARI PASSU with the obligations of the Guarantor
relating to the BFG QUIPS(SM) and any similar guarantee agreements issued by the
Guarantor on behalf of the holders of securities issued by a trust or similar
entity created by the Guarantor and, similar to Coltec Capital Trust, which
securities have substantially equivalent terms to those of the Trust Securities.

                                   ARTICLE VII

              Consolidation, Merger, Conveyance, Transfer or Lease
              ----------------------------------------------------

         SECTION 7.01. GUARANTOR MAY CONSOLIDATE, ETC., ONLY ON CERTAIN TERMS.
The Guarantor shall not consolidate with or merge with or into any other Person
or sell or lease its assets as, or substantially as, an entirety to any Person,
unless:

                  (a) the Person formed by such consolidation or into which the
         Guarantor is merged or the Person which acquires by sale or lease, the
         assets of the Guarantor as, or substantially as, an entirety, shall be
         a corporation, partnership or trust, shall be organized under the laws
         of the United States of America, any State thereof or the District of
         Columbia and (if other than the Company) such successor Person shall
         expressly assume the performance or observance of every covenant of
         this Guarantee on the part of the Guarantor to be performed or
         observed;

                  (b) immediately after giving effect to such transaction, no
         Event of Default, and no event which, after notice or lapse of time or
         both, would become an Event of Default, shall have happened and be
         continuing; and

                  (c) the Guarantor has delivered to the Trustee an Officers'
         Certificate and an Opinion of Counsel, each stating that such
         consolidation, merger, sale or lease comply with this Article and that
         all conditions precedent herein provided for relating to such
         transaction have been complied with.

                                         15

<PAGE>

                                  ARTICLE VIII

                                   Termination
                                   -----------

         SECTION 8.01. TERMINATION. This Guarantee Agreement shall terminate and
be of no further force and effect upon (i) full payment of the Redemption Price
of all Trust Securities, (ii) the distribution of Convertible Junior
Subordinated Debentures to the Holders in exchange for all of the Trust
Securities or (iii) full payment of the amounts payable in accordance with the
Declaration upon liquidation of the Issuer. Notwithstanding the foregoing, this
Guarantee Agreement will continue to be effective or will be reinstated, as the
case may be, if at any time any Holder must repay any sums paid with respect to
Trust Securities or this Guarantee Agreement.

                                   ARTICLE IX

                                  Miscellaneous
                                  -------------

         SECTION 9.01. SUCCESSORS AND ASSIGNS. All guarantees and agreements
contained in this Guarantee Agreement shall bind the successors, assigns,
receivers, trustees and representatives of the Guarantor and shall inure to the
benefit of the Holders of the Trust Securities then outstanding. Except in
connection with a consolidation, merger or sale involving the Guarantor that is
permitted under Article VIII of the Indenture and pursuant to which the assignee
agrees in writing to perform the Guarantor's obligations hereunder, the
Guarantor shall not assign its obligations hereunder.

         SECTION 9.02. AMENDMENTS. Except with respect to any changes which do
not materially adversely affect the rights of the Holders of Convertible
Preferred Securities (in which case no consent of the Holders will be required),
this Guarantee Agreement may only be amended with the prior approval of the
Holders of not less than a Majority of the aggregate liquidation amount of the
outstanding Convertible Preferred Securities. The provisions of Article VI of
the Declaration concerning meetings of the Holders shall apply to the giving of
such approval.

         SECTION 9.03. NOTICES. Any notice, request or other communication
required or permitted to be given hereunder shall be in writing, duly signed by
the party giving such notice, and, delivered, telecopied (confirmed by delivery
of the original) or mailed by first class mail as follows:

                  (a) if given to the Guarantor, to the address set forth below
         or such other address, facsimile number or to the attention of such
         other Person as the Guarantor may give notice to the Holders:

                                       16

<PAGE>

                The B.F.Goodrich Company
                4020 Kinross Lakes Parkway
                Richfield, Ohio 44286-9368

                Facsimile No.: (330) 659-7727
                Attention: Corporate Secretary

                  (b) if given to the Issuer, in care of the Guarantee Trustee,
         at the Issuer's (and the Guarantee Trustee's) address set forth below
         or such other address as the Guarantee Trustee on behalf of the Issuer
         may, at the Issuer's direction, give notice to the Holders:

                Coltec Capital Trust
                c/o Coltec Industries Inc
                3 Coliseum Centre
                2550 West Tyvola Road
                Charlotte, North Carolina 28217

                Facsimile No.: (704) 423-7011
                Attention: Corporate Secretary

                with a copy to:

                The Bank of New York
                101 Barclay Street
                New York, NY 10286

                Facsimile No.:
                Attention: Corporate Trust Administration

                  (c) if given to the Guarantee Trustee:

                The Bank of New York
                101 Barclay Street, Floor 21 West
                New York, NY 10286

                Facsimile No.: (212) 815-5915
                Attention:  Corporate Trust Administration

                  (d) if given to any Holder, at the address set forth on the
         books and records of the Issuer.

         All notices hereunder shall be deemed to have been given when received
in person, telecopied with receipt confirmed, or mailed by first class mail,
postage prepaid, except that if a notice or other document is refused delivery
or cannot be delivered because of a changed address of which no notice was
given, such notice or other document shall be deemed to have been delivered on
the date of such refusal or inability to deliver.

                                         17

<PAGE>

         SECTION 9.04. BENEFIT. This Guarantee Agreement is solely for the
benefit of the Holders and is not separately transferable from the Convertible
Preferred Securities.

         SECTION 9.05. INTERPRETATION. In this Guarantee Agreement, unless the
context otherwise requires:

                  (a) capitalized terms used in this Guarantee Agreement but not
         defined in the preamble hereto have the respective meanings assigned to
         them in Section 1.01;

                  (b) a term defined anywhere in this Guarantee Agreement has
         the same meaning throughout;

                  (c) all references to "the Guarantee Agreement" or "this
         Guarantee Agreement" are to this Guarantee Agreement as modified,
         supplemented or amended from time to time;

                  (d) all references in this Guarantee Agreement to Articles and
         Sections are to Articles and Sections of this Guarantee Agreement
         unless otherwise specified;

                  (e) a term defined in the Trust Indenture Act has the same
         meaning when used in this Guarantee Agreement unless otherwise defined
         in this Guarantee Agreement or unless the context otherwise requires;

                  (f) a reference to the singular includes the plural and vice
         versa; and

                  (g) the masculine, feminine or neuter genders used herein
         shall include the masculine, feminine and neuter genders.

         SECTION 9.06. GOVERNING LAW. THIS GUARANTEE AGREEMENT SHALL BE GOVERNED
BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK WITHOUT REGARD TO THE CONFLICT OF LAW PRiNCIPLES THEREOF.

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

                                         18

<PAGE>

         This GUARANTEE AGREEMENT is executed as of the day and year first above
written.

                                       THE B.F.GOODRICH COMPANY

                                       By /s/ Scott E. Kuechle
                                         --------------------------------------
                                       Name:  Scott E. Kuechle
                                       Title: Vice President and Treasurer

                                       THE BANK OF NEW YORK,
                                       AS GUARANTEE TRUSTEE

                                       By  /s/ Mary Beth Lewicki
                                         ---------------------------------------
                                       Name:  Mary Beth Lewicki
                                       Title: Assistant Vice President<PAGE>
                                                                    Exhibit 10.5

                 DIRECTOR AND OFFICER INDEMNIFICATION AGREEMENT

         THIS INDEMNIFICATION AGREEMENT, dated as of ________ __, 2002 (this
"Agreement"), is made by and between ENPRO INDUSTRIES, INC., a North Carolina
corporation (the "Company"), and _________________________ ("Indemnitee").

                                    RECITALS

         A. It is important to the Company to attract and retain as directors
and officers the most capable persons reasonably available.

         B. Indemnitee is a director and/or officer of the Company.

         C. Both the Company and Indemnitee recognize the increased risk of
litigation and other claims being asserted against directors and officers of
companies in today's environment.

         D. The Company's Restated Articles of Incorporation and By-laws
(together, the "Constituent Documents") provide that the Company will indemnify
its directors and officers and will advance expenses in connection therewith,
and Indemnitee's willingness to serve as a director and/or officer of the
Company, or at the Company's request to serve another entity in any capacity, is
based in part on Indemnitee's reliance on such provisions.

         E. In recognition of Indemnitee's need for substantial protection
against personal liability in order to encourage Indemnitee's continued service
to the Company or, at the Company's request, another entity, in an effective
manner, and Indemnitee's reliance on the aforesaid provisions of the Constituent
Documents, and to provide Indemnitee with express contractual indemnification
(regardless of, among other things, any amendment to or revocation of such
provisions or any change in the composition of the Company's Board of Directors
(the "Board") or any acquisition, disposition or other business combination
transaction relating to the Company), the Company wishes to provide in this
Agreement for the indemnification of Indemnifiable Losses (as defined in Section
1(d)) and the advancement of Expenses (as defined in Section 1(c)) to Indemnitee
as set forth in this Agreement and, to the extent insurance is maintained, for
the continued coverage of Indemnitee under the Company's directors' and
officers' liability insurance policies.

         NOW, THEREFORE, the parties hereby agree as follows:

1.       CERTAIN DEFINITIONS. In addition to terms defined elsewhere herein, the
         following terms have the following meanings when used in this Agreement
         with initial capital letters:

         (a)      "AFFILIATE" has the meaning given to that term in Rule 405
                  under the Securities Act of 1933, provided, however, that for
                  purposes of this Agreement the Company and its subsidiaries
                  will not be deemed to constitute Affiliates of Indemnitee or
                  the Indemnitee.

         (b)      "CLAIM" means any threatened, pending or completed action,
                  suit or proceeding (whether civil, criminal, administrative,
                  arbitrative, investigative or
<PAGE>
                  other), whether instituted by the Company or any other party
                  (including, without limitation, any governmental entity), or
                  any inquiry or investigation, whether instituted by the
                  Company or any other party (including, without limitation, any
                  governmental entity) that Indemnitee in good faith believes
                  might lead to the institution of any such action, suit or
                  proceeding.

         (c)      "EXPENSES" includes all attorneys' and experts' fees, expenses
                  and charges and all other costs, expenses and obligations paid
                  or incurred in connection with investigating, defending, or
                  participating (as a party, a witness, or otherwise) in
                  (including on appeal), or preparing to defend or participate
                  in, any Claim.

         (d)      "INDEMNIFIABLE LOSSES" means any and all Expenses, damages,
                  losses, liabilities, judgments, fines, penalties and amounts
                  paid or payable in settlement (including, without limitation,
                  all interest, assessments and other charges paid or payable in
                  connection with or in respect of any of the foregoing)
                  relating to, resulting from or arising out of any act or
                  failure to act by the Indemnitee, or his or her status as any
                  person referred to in clause (i) of this sentence, (i) in his
                  or her capacity as a director, officer, employee or agent of
                  the Company, any of its Affiliates or any other entity as to
                  which the Indemnitee is or was serving at the request of the
                  Company as a director, officer, employee, member, manager,
                  trustee, agent or any other capacity of another corporation,
                  limited liability company, partnership, joint venture, trust
                  or other entity or enterprise, whether or not for profit and
                  (ii) in respect of any business, transaction or other activity
                  of any entity referred to in clause (i) of this sentence.

2.       BASIC INDEMNIFICATION ARRANGEMENT. The Company will indemnify and hold
         harmless Indemnitee to the fullest extent permitted by the laws of the
         State of New York in effect on the date hereof or as such laws may from
         time to time hereafter be amended to increase the scope of such
         permitted indemnification (but in no case less than the extent
         permitted under the laws in effect as of the date hereof) against all
         Indemnifiable Losses relating to, resulting from or arising out of any
         Claim. The failure by Indemnitee to notify the Company of such Claim
         will not relieve the Company from any liability hereunder unless, and
         only to the extent that, the Company did not otherwise learn of the
         Claim and such failure results in forfeiture by the Company of
         substantial defenses, rights or insurance coverage. Except as provided
         in Sections 4 and 18, Indemnitee will not be entitled to
         indemnification pursuant to this Agreement in connection with any Claim
         initiated by Indemnitee against the Company or any director or officer
         of the Company unless the Company has joined in or consented to the
         initiation of such Claim.

3.       ADVANCEMENT OF EXPENSES. The Indemnitee's right to indemnification in
         Section 2 of this Agreement shall include the right of Indemnitee to be
         advanced by the Company any Expenses. If so requested by Indemnitee,
         the Company will advance within two business days of such request any
         and all Expenses to Indemnitee which Indemnitee reasonably determines
         likely to be payable; provided, however, that Indemnitee will return,
         without interest, any such advance which remains unspent at the final
         conclusion of the Claim to which the advance related; and provided,
         further, that, except as provided

                                       2
<PAGE>
         in Section 18, all amounts advanced in respect of such Expenses shall
         be repaid to the Company by Indemnitee if it shall ultimately be
         determined in a final judgment that Indemnitee is not entitled to be
         indemnified for such Expenses.

4.       INDEMNIFICATION FOR ADDITIONAL EXPENSES. Without limiting the
         generality or effect of the foregoing, the Company will indemnify
         Indemnitee against and, if requested by Indemnitee, will within two
         business days of such request advance to Indemnitee, any and all
         attorneys' fees and other Expenses paid or incurred by Indemnitee in
         connection with any Claim asserted or brought by Indemnitee for (i)
         indemnification or advance payment of Expenses by the Company under
         this Agreement or any other agreement or under any provision of the
         Company's Constituent Documents now or hereafter in effect relating to
         Claims for Indemnifiable Losses and/or (ii) recovery under any
         directors' and officers' liability insurance policies maintained by the
         Company, regardless of whether Indemnitee ultimately is determined to
         be entitled to such indemnification, advance expense payment or
         insurance recovery, as the case may be.

5.       PARTIAL INDEMNITY, ETC. If Indemnitee is entitled under any provision
         of this Agreement to indemnification by the Company for some or a
         portion of any Indemnifiable Loss but not for all of the total amount
         thereof, the Company will nevertheless indemnify Indemnitee for the
         portion thereof to which Indemnitee is entitled. Moreover,
         notwithstanding any other provision of this Agreement, to the extent
         that Indemnitee has been successful on the merits or otherwise in
         defense of any or all Claims relating in whole or in part to an
         Indemnifiable Loss or in defense of any issue or matter therein,
         including, without limitation, dismissal without prejudice, Indemnitee
         will be indemnified against all Expenses incurred in connection
         therewith. In connection with any determination as to whether
         Indemnitee is entitled to be indemnified hereunder, there will be a
         presumption that Indemnitee is so entitled, and the burden of proof
         shall, to the extent permitted by law, be on the Company to establish
         that Indemnitee is not so entitled.

6.       NO OTHER PRESUMPTION. For purposes of this Agreement, the termination
         of any Claim by judgment, order, settlement (whether with or without
         court approval) or conviction, or upon a plea of nolo contendere or its
         equivalent, will not create a presumption that Indemnitee did not meet
         any particular standard of conduct or have any particular belief or
         that a court has determined that indemnification is not permitted by
         applicable law.

7.       NON-EXCLUSIVITY, ETC. The rights of Indemnitee hereunder will be in
         addition to any other rights Indemnitee may have under the Constituent
         Documents, or the substantive laws of the Company's jurisdiction of
         incorporation, any other contract or otherwise (collectively, "Other
         Indemnity Provisions"); provided, however, that (i) to the extent that
         Indemnitee otherwise would have any greater right to indemnification
         under any Other Indemnity Provision, Indemnitee will be deemed to have
         such greater right hereunder and (ii) to the extent that any change is
         made to any Other Indemnity Provision which permits any greater right
         to indemnification than that provided under this Agreement as of the
         date hereof, Indemnitee will be deemed to have such greater right
         hereunder. The Company will not adopt any amendment to any of the
         Constituent

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<PAGE>
         Documents the effect of which would be to deny, diminish or encumber
         Indemnitee's right to indemnification under this Agreement or any Other
         Indemnity Provision.

8.       LIABILITY INSURANCE. To the extent the Company maintains an insurance
         policy or policies providing directors' and officers' liability
         insurance (the "D&O Insurance"), Indemnitee will be covered by such
         policy or policies, in accordance with its or their terms, to the
         maximum extent of the coverage available for any director or officer of
         the Company. Notwithstanding the foregoing, the Company shall not be
         required to cover the Indemnitee under its D&O Insurance to the same
         extent as other directors or officers of the Company, or at all, if the
         Company determines in good faith that such insurance is not available,
         or the premium costs (or increases in premium costs of other directors
         or officers of the Company as a result of such coverage) for such
         insurance is materially disproportionate to the amount of coverage
         provided.

9.       SUBROGATION. In the event of payment under this Agreement, the Company
         will be subrogated to the extent of such payment to all of the related
         rights of recovery of Indemnitee against other persons or entities
         (other than Indemnitee's successors). The Indemnitee will execute all
         papers reasonably required to evidence such rights (all of Indemnitee's
         reasonable Expenses, including attorneys' fees and charges, related
         thereto to be reimbursed by or, at the option of Indemnitee, advanced
         by the Company).

10.      NO DUPLICATION OF PAYMENTS. The Company will not be liable under this
         Agreement to make any payment in connection with any Indemnifiable Loss
         made against Indemnitee to the extent Indemnitee has otherwise actually
         received payment (net of Expenses incurred in connection therewith)
         under any insurance policy, the Constituent Documents and Other
         Indemnity Provisions or otherwise of the amounts otherwise
         indemnifiable hereunder provided that, if Indemnitee for any reason is
         required to disgorge any payment actually received by him, the Company
         shall be obligated to pay such amount to Indemnitee in accordance with
         the other terms of this Agreement (i.e., disregarding the terms of this
         Section 10).

11.      DEFENSE OF CLAIMS. The Company will be entitled to participate in the
         defense (including, without limitation, the negotiation and approval of
         any settlement) of any Claim in respect of which Indemnitee may seek
         indemnification from the Company hereunder, or to assume the defense
         thereof, with counsel reasonably satisfactory to the Indemnitee,
         provided that in the event that (i) the use of counsel chosen by the
         Company to represent Indemnitee would present such counsel with an
         actual or potential conflict, (ii) the named parties in any such Claim
         (including any impleaded parties) include both the Company and
         Indemnitee and Indemnitee shall conclude that there may be one or more
         legal defenses available to him or her that are different from or in
         addition to those available to the Company, or (iii) any such
         representation by the Company would be precluded under the applicable
         standards of professional conduct then prevailing, then Indemnitee will
         be entitled to retain separate counsel (but not more than one law firm
         plus, if applicable, local counsel in respect of any particular Claim)
         at the Company's expense. Notwithstanding the preceding sentence, in
         any event the Company shall be liable to Indemnitee under this
         Agreement for the reasonable costs of investigation and preparation for
         the defense of any Claim (including, without limitation, appearing as a

                                       4
<PAGE>
         witness and reasonable fees and expenses of counsel in connection
         therewith). The Company will not, without the prior written consent of
         the Indemnitee, effect any settlement of any threatened or pending
         Claim that the Indemnitee is or could have been a party to unless such
         settlement solely involves the payment of money and includes an
         unconditional release of the Indemnitee from all liability on any
         claims that are the subject matter of such Claim.

12.      SUCCESSORS AND BINDING AGREEMENT. (a) The Company will require any
         successor (whether direct or indirect, by purchase, merger,
         consolidation, reorganization or otherwise) to all or substantially all
         of the business or assets of the Company (a "Successor"), by agreement
         in form and substance satisfactory to Indemnitee and his or her
         counsel, expressly to assume and agree to perform this Agreement in the
         same manner and to the same extent the Company would be required to
         perform if no such succession had taken place. This Agreement will be
         binding upon and inure to the benefit of the Company and may be
         assigned to a Successor, but will not otherwise be assignable or
         delegatable by the Company.

         (b)      This Agreement will inure to the benefit of and be enforceable
                  by the Indemnitee's personal or legal representatives,
                  executors, administrators, successors, heirs, distributees,
                  legatees and other successors.

         (c)      This Agreement is personal in nature and neither of the
                  parties hereto will, without the consent of the other, assign
                  or delegate this Agreement or any rights or obligations
                  hereunder except as expressly provided in Sections 12(a) and
                  12(b). Without limiting the generality or effect of the
                  foregoing, Indemnitee's right to receive payments hereunder
                  will not be assignable, whether by pledge, creation of a
                  security interest or otherwise, other than by a transfer by
                  the Indemnitee's will or by the laws of descent and
                  distribution, and, in the event of any attempted assignment or
                  transfer contrary to this Section 12(c), the Company will have
                  no liability to pay any amount so attempted to be assigned or
                  transferred.

13.      NOTICES. For all purposes of this Agreement, all communications,
         including without limitation notices, consents, requests or approvals,
         required or permitted to be given hereunder will be in writing and will
         be deemed to have been duly given when hand delivered or dispatched by
         electronic facsimile transmission (with receipt thereof orally
         confirmed), or five business days after having been mailed by United
         States registered or certified mail, return receipt requested, postage
         prepaid or one business day after having been sent for next-day
         delivery by a nationally recognized overnight courier service,
         addressed to the Company (to the attention of the Secretary of the
         Company) and to the Indemnitee at the addresses shown on the signature
         page hereto, or to such other address as any party may have furnished
         to the other in writing and in accordance herewith, except that notices
         of changes of address will be effective only upon receipt.

14.      GOVERNING LAW. The validity, interpretation, construction and
         performance of this Agreement will be governed by and construed in
         accordance with the substantive laws of the State of North Carolina,
         without giving effect to the principles of conflict of laws of such
         State. Each party consents to non-exclusive jurisdiction of the North

                                       5
<PAGE>
         Carolina Superior Court in Mecklenburg County, North Carolina or the
         United States District Court for the Western District of North Carolina
         (Charlotte Division) for purposes of any action, suit or proceeding
         hereunder, waives any objection to venue therein or any defense based
         on forum non conveniens or similar theories and agrees that service of
         process may be effected in any such action, suit or proceeding by
         notice given in accordance with Section 13.

15.      VALIDITY. If any provision of this Agreement or the application of any
         provision hereof to any person or circumstance is held invalid,
         unenforceable or otherwise illegal, the remainder of this Agreement and
         the application of such provision to any other person or circumstance
         will not be affected, and the provision so held to be invalid,
         unenforceable or otherwise illegal will be reformed to the extent, and
         only to the extent, necessary to make it enforceable, valid or legal.

16.      MISCELLANEOUS. No provision of this Agreement may be waived, modified
         or discharged unless such waiver, modification or discharge is agreed
         to in writing signed by Indemnitee and the Company. No waiver by either
         party hereto at any time of any breach by the other party hereto or
         compliance with any condition or provision of this Agreement to be
         performed by such other party will be deemed a waiver of similar or
         dissimilar provisions or conditions at the same or at any prior or
         subsequent time. No agreements or representations, oral or otherwise,
         expressed or implied with respect to the subject matter hereof have
         been made by either party that are not set forth expressly in this
         Agreement. References to Sections are to references to Sections of this
         Agreement.

17.      COUNTERPARTS. This Agreement may be executed in one or more
         counterparts, each of which will be deemed to be an original but all of
         which together will constitute one and the same agreement.

18.      LEGAL FEES AND EXPENSES. It is the intent of the Company that the
         Indemnitee not be required to incur legal fees and or other Expenses
         associated with the interpretation, enforcement or defense of
         Indemnitee's rights under this Agreement by litigation or otherwise
         because the cost and expense thereof would substantially detract from
         the benefits intended to be extended to the Indemnitee hereunder.
         Accordingly, without limiting the generality or effect of any other
         provision hereof, if it should appear to the Indemnitee that the
         Company has failed to comply with any of its obligations under this
         Agreement or in the event that the Company or any other person takes or
         threatens to take any action to declare this Agreement void or
         unenforceable, or institutes any litigation or other action or
         proceeding designed to deny, or to recover from, the Indemnitee the
         benefits provided or intended to be provided to the Indemnitee
         hereunder, the Company irrevocably authorizes the Indemnitee from time
         to time to retain counsel of Indemnitee's choice, at the expense of the
         Company as hereafter provided, to advise and represent the Indemnitee
         in connection with any such interpretation, enforcement or defense,
         including without limitation the initiation or defense of any
         litigation or other legal action, whether by or against the Company or
         any director, officer, stockholder or other person affiliated with the
         Company. Notwithstanding any existing or prior attorney-client
         relationship between the Company and such counsel, the Company
         irrevocably consents to the Indemnitee's entering into an
         attorney-client relationship with

                                       6
<PAGE>
         such counsel, and in that connection the Company and the Indemnitee
         agree that a confidential relationship shall exist between the
         Indemnitee and such counsel. Without respect to whether the Indemnitee
         prevails, in whole or in part, in connection with any of the foregoing,
         the Company will pay and be solely financially responsible for any and
         all attorneys' and related fees and expenses incurred by the Indemnitee
         in connection with any of the foregoing.

19.      RIGHT OF INDEMNITEE TO INDEMNIFICATION UPON APPLICATION; PROCEDURE UPON
         APPLICATION. Except as provided in Section 3, any indemnification under
         this Agreement shall be made as soon as practicable but in any event no
         later than 30 days after receipt of the written request of the
         Indemnitee for such indemnification (such request to be accompanied by
         reasonable supporting documentation of the Indemnifiable Losses),
         unless a determination is made within said 30 day period by (a) the
         Board by a majority vote of a quorum thereof consisting of directors
         who were not parties to such proceedings, or (b) independent legal
         counsel in a written opinion (which counsel shall be appointed if such
         a quorum is not obtainable), that the Indemnitee has not met the
         relevant standards for indemnification set forth in this Agreement. In
         the case of either (a) or (b) above, the Company shall send prompt
         written notice to the Indemnitee of such determination.

20.      CERTAIN INTERPRETIVE MATTERS. No provision of this Agreement will be
         interpreted in favor of, or against, either of the parties hereto by
         reason of the extent to which any such party or its counsel
         participated in the drafting thereof or by reason of the extent to
         which any such provision is inconsistent with any prior draft hereof or
         thereof.

IN WITNESS WHEREOF, Indemnitee has executed and the Company has caused its duly
authorized representative to execute this Agreement as of the date first above
written.

                                    ENPRO INDUSTRIES, INC.
                                    [Address]

                                    By:_________________________________________
                                    Name:  Ernest F. Schaub
                                    Title: President and Chief Executive Officer

                                    [NAME]
                                    [Address]

                                    ____________________________________________
                                    [Name]

                                       7

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