Document:

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                                                                     EXHIBIT 4.3

                         REGISTRATION RIGHTS AGREEMENT

     This Registration Rights Agreement (this "Agreement") is dated as of May 1,
2003, by and among FastenTech, Inc., a Delaware corporation (the "Company"), the
guarantors listed on Schedule 1 hereto (the "Guarantors") and J.P. Morgan
Securities Inc., Lehman Brothers Inc., and NatCity Investments, Inc. (the
"Initial Purchasers").

     This Agreement is entered into in connection with the Purchase Agreement
dated as of April 24, 2003 (the "Purchase Agreement") by and among the Company,
the Guarantors and the Initial Purchasers, which provides for the sale by the
Company to the Initial Purchasers of $145,000,000 aggregate principal amount of
the Company's 11 1/2% Senior Subordinated Notes due 2011 (the "Securities"),
which will be guaranteed on an unsecured senior subordinated basis by each of
the Guarantors.

     As an inducement to the Initial Purchasers to enter into the Purchase
Agreement, the Company and the Guarantors have agreed to provide to the Initial
Purchasers and their direct and indirect transferees the registration rights set
forth in this Agreement. The execution and delivery of this Agreement is a
condition to closing under the Purchase Agreement.

     In consideration of the foregoing, the parties hereby agree as follows:

     1. Definitions. As used in this Agreement, the following terms shall have
the following meanings:

     "Business Day" shall mean any day that is not a Saturday, Sunday or other
day on which commercial banks in New York City are authorized or required by law
to remain closed.

     "Closing Date" shall mean the Closing Date as defined in the Purchase
Agreement.

     "Company" shall have the meaning set forth in the preamble and shall also
include the Company's successors.

     "Exchange Act" shall mean the Securities Exchange Act of 1934, as amended
from time to time.

     "Exchange Dates" shall have the meaning set forth in Section 2(a)(ii)
hereof.

     "Exchange Offer" shall mean the exchange offer by the Company and the
Guarantors of Exchange Securities for Registrable Securities pursuant to Section
2(a) hereof.

     "Exchange Offer Registration" shall mean a registration under the
Securities Act effected pursuant to Section 2(a) hereof.

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     "Exchange Offer Registration Statement" shall mean an exchange offer
registration statement on Form S-4 (or, if applicable, on another appropriate
form) and all amendments and supplements to such registration statement, in each
case including the Prospectus contained therein, all exhibits thereto and any
document incorporated by reference therein.

     "Exchange Securities" shall mean senior subordinated notes issued by the
Company and guaranteed by the Guarantors under the Indenture containing terms
identical to the Securities (except that the Exchange Securities will not be
subject to restrictions on transfer or to any increase in annual interest rate
for failure to comply with this Agreement) and to be offered to Holders in
exchange for Securities pursuant to the Exchange Offer.

     "Guarantors" shall have the meaning set forth in the preamble and shall
also include any Guarantor's successors.

     "Holders" shall mean the Initial Purchasers, for so long as they own any
Registrable Securities, and each of their successors, assigns and direct and
indirect transferees and other Persons who become owners of Registrable
Securities under the Indenture; provided that for purposes of Sections 4 and 5
of this Agreement, the term "Holders" shall include Participating
Broker-Dealers.

     "Initial Purchasers" shall have the meaning set forth in the preamble.

     "Indenture" shall mean the Indenture relating to the Securities dated as of
May 1, 2003 among the Company, the Guarantors and the Trustee, as trustee, and
as the same may be amended from time to time in accordance with the terms
thereof.

     "Majority Holders" shall mean the Holders of a majority of the aggregate
principal amount of outstanding Registrable Securities; provided that whenever
the consent or approval of Holders of a specified percentage of Registrable
Securities is required hereunder, Registrable Securities owned directly or
indirectly by the Company or any of its affiliates shall not be counted in
determining whether such consent or approval was given by the Holders of such
required percentage or amount.

     "Participating Broker-Dealers" shall have the meaning set forth in Section
4(a) hereof.

     "Person" shall mean an individual, partnership, limited liability company,
corporation, trust or unincorporated organization, or a government or agency or
political subdivision thereof.

     "Prospectus" shall mean the prospectus included in a Registration
Statement, including any preliminary prospectus, and any such prospectus as
amended or supplemented by any prospectus supplement, including a prospectus
supplement with respect to the terms of the offering of any portion of the
Registrable Securities covered by a Shelf Registration

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Statement, and by all other amendments and supplements to such prospectus, and
in each case including any document incorporated by reference therein.

     "Purchase Agreement" shall have the meaning set forth in the preamble.

     "Registrable Securities" shall mean the Securities; provided that the
Securities shall cease to be Registrable Securities (i) when a Registration
Statement with respect to such Securities has been declared effective under the
Securities Act and such Securities have been, or could, at the election of the
Holder, have been exchanged or disposed of pursuant to such Registration
Statement, (ii) when such Securities are eligible to be sold pursuant to Rule
144(k) (or any similar provision then in force, but not Rule 144A) under the
Securities Act, (iii) when such Securities are sold pursuant to Rule 144 under
circumstances after which such Securities are freely transferable under the
Securities Act or (iv) when such Securities cease to be outstanding.

     "Registration Expenses" shall mean any and all expenses incident to
performance of or compliance by the Company and the Guarantors with this
Agreement, including, without limitation, (i) all SEC, stock exchange or
National Association of Securities Dealers, Inc. registration and filing fees,
(ii) all fees and expenses incurred in connection with compliance with state
securities or blue sky laws (including reasonable fees and disbursements of
counsel for any Underwriters or Holders in connection with blue sky
qualification of any Exchange Securities or Registrable Securities), (iii) all
reasonable expenses of any Persons in preparing or assisting in preparing, word
processing, printing and distributing any Registration Statement, any Prospectus
and any amendments or supplements thereto, any underwriting agreements,
securities sales agreements or other similar agreements and any other documents
relating to the performance of and compliance with this Agreement, (iv) all
rating agency fees, (v) all fees and disbursements relating to the qualification
of the Indenture under applicable securities laws, (vi) the fees and
disbursements of the Trustee and its counsel, (vii) the fees and disbursements
of counsel for the Company and the Guarantors and, in the case of a Shelf
Registration Statement, the reasonable fees and disbursements of one counsel for
the Holders (which counsel shall be selected by the Majority Holders and which
counsel may also be counsel for the Initial Purchasers) and (viii) the fees and
disbursements of the independent public accountants of the Company and the
Guarantors, including the expenses of any special audits or "comfort" letters
required by or incident to the performance of and compliance with this
Agreement, but excluding in each case fees and expenses of counsel to the
Underwriters (other than fees and expenses set forth in clause (ii) above) or
the Holders and underwriting discounts and commissions and transfer taxes, if
any, relating to the sale or disposition of Registrable Securities by a Holder.

     "Registration Statement" shall mean any registration statement of the
Company and the Guarantors that covers any of the Exchange Securities or the
resale of Registrable Securities pursuant to the provisions of this Agreement
and all amendments and supplements to any such registration statement, including
post-effective amendments, in each case

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including the Prospectus contained therein, all exhibits thereto and any
document incorporated by reference therein.

     "SEC" shall mean the Securities and Exchange Commission.

     "Securities Act" shall mean the Securities Act of 1933, as amended from
time to time.

     "Shelf Effectiveness Period" shall have the meaning set forth in Section
2(b) hereof.

     "Shelf Registration" shall mean a registration effected pursuant to Section
2(b) hereof.

     "Shelf Registration Statement" shall mean a "shelf" registration statement
of the Company and the Guarantors that covers all the Registrable Securities
(but no other securities unless approved by the Holders whose Registrable
Securities are to be covered by such Shelf Registration Statement) on an
appropriate form under Rule 415 under the Securities Act, or any similar rule
that may be adopted by the SEC, and all amendments and supplements to such
registration statement, including post-effective amendments, in each case
including the Prospectus contained therein, all exhibits thereto and any
document incorporated by reference therein.

     "Trust Indenture Act" shall mean the Trust Indenture Act of 1939, as
amended from time to time.

     "Trustee" shall mean the trustee with respect to the Securities under the
Indenture.

     "Underwriter" shall have the meaning set forth in Section 3 hereof.

     "Underwritten Offering" shall mean an offering in which Registrable
Securities are sold to an Underwriter for reoffering to the public.

     2. Registration Under the Securities Act. (a) To the extent not prohibited
by any applicable law or applicable interpretations of the Staff of the SEC, the
Company and the Guarantors shall use their reasonable best efforts to (i) cause
to be filed an Exchange Offer Registration Statement covering an offer to the
Holders to exchange all the Registrable Securities for Exchange Securities and
(ii) have such Registration Statement remain effective until the earlier of (x)
180 days after the closing of the Exchange Offer and (y) such time as no
broker-dealer holds any Registrable Securities. The Company and the Guarantors
shall commence the Exchange Offer promptly after the Exchange Offer Registration
Statement is declared effective by the SEC and use their reasonable best efforts
to complete the Exchange Offer not later than 60 days after such effective date.

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     The Company and the Guarantors shall commence the Exchange Offer by mailing
the related Prospectus, appropriate letters of transmittal and other
accompanying documents to each Holder stating, in addition to such other
disclosures as are required by applicable law:

(i)  that the Exchange Offer is being made pursuant to this Agreement and that
     all Registrable Securities validly tendered and not properly withdrawn will
     be accepted for exchange;

(ii) the dates of acceptance for exchange (which shall be a period of at least
     20 Business Days from the date such notice is mailed) (the "Exchange
     Dates");

(iii) that any Registrable Security not tendered will remain outstanding and
     continue to accrue interest in accordance with its terms, but will not
     retain any rights under this Agreement;

(iv) that any Holder electing to have a Registrable Security exchanged pursuant
     to the Exchange Offer will be required to surrender such Registrable
     Security, together with the appropriate letters of transmittal, to the
     institution and at the address (located in the Borough of Manhattan, The
     City of New York) and in the manner specified in the notice, prior to the
     close of business on the last Exchange Date; and

(v)  that any Holder will be entitled to withdraw its election, not later than
     the close of business on the last Exchange Date, by sending to the
     institution and at the address (located in the Borough of Manhattan, The
     City of New York) specified in the notice, a telegram, telex, facsimile
     transmission or letter setting forth the name of such Holder, the principal
     amount of Registrable Securities delivered for exchange and a statement
     that such Holder is withdrawing its election to have such Registrable
     Securities exchanged.

     As a condition to participating in the Exchange Offer, a Holder will be
required to represent to the Company and the Guarantors that (i) any Exchange
Securities to be received by it will be acquired in the ordinary course of its
business, (ii) at the time of the commencement of the Exchange Offer it has no
arrangement or understanding with any Person to participate in the distribution
(within the meaning of the Securities Act) of the Exchange Securities in
violation of the provisions of the Securities Act, (iii) it is not an
"affiliate" (within the meaning of Rule 405 under Securities Act) of the Company
or any Guarantor and (iv) if such Holder is a broker-dealer that will receive
Exchange Securities for its own account in exchange for Registrable Securities
that were acquired as a result of market-making or other trading activities,
then such Holder will deliver a Prospectus in connection with any resale of such
Exchange Securities.

     As soon as practicable after the last Exchange Date, the Company and the
Guarantors shall:

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(i)  accept for exchange Registrable Securities or portions thereof validly
     tendered and not properly withdrawn pursuant to the Exchange Offer; and

(ii) deliver, or cause to be delivered, to the Trustee for cancellation all
     Registrable Securities or portions thereof so accepted for exchange by the
     Company and issue, and cause the Trustee to promptly authenticate and
     deliver to each Holder, Exchange Securities equal in principal amount to
     the principal amount of the Registrable Securities surrendered by such
     Holder.

     The Company and the Guarantors shall use their reasonable best efforts to
complete the Exchange Offer as provided above and shall comply with the
applicable requirements of the Securities Act, the Exchange Act and other
applicable laws and regulations in connection with the Exchange Offer. The
Exchange Offer shall not be subject to any conditions, other than that the
Exchange Offer does not violate any applicable law or applicable interpretations
of the Staff of the SEC.

     (b) In the event that (i) the Company and the Guarantors determine that the
Exchange Offer Registration provided for in Section 2(a) above is not available
or may not be completed as soon as practicable after the last Exchange Date
because it would violate any applicable law or applicable interpretations of the
Staff of the SEC, (ii) the Exchange Offer is not for any other reason completed
by November 27, 2003 or (iii) upon completion of the Exchange Offer any Initial
Purchaser shall so request in connection with any offering or sale of
Registrable Securities not permitted to participate in the Exchange Offer, the
Company and the Guarantors shall use their reasonable best efforts to cause to
be filed as soon as practicable after such determination, date or request, as
the case may be, a Shelf Registration Statement providing for the sale of all
the Registrable Securities by the Holders thereof and to have such Shelf
Registration Statement declared effective by the SEC. To the extent a Shelf
Registration Statement is required to be filed pursuant solely to clause (ii)
above, but the Exchange Offer is completed on a date later than November 27,
2003, upon consummation of such Exchange Offer, the Company will no longer be
required to file, make effective or continue the effectiveness of a Shelf
Registration Statement.

     In the event that the Company and the Guarantors are required to file a
Shelf Registration Statement pursuant to clause (iii) of the preceding sentence,
the Company and the Guarantors shall use their reasonable best efforts to file
and have declared effective by the SEC both an Exchange Offer Registration
Statement pursuant to Section 2(a) with respect to all Registrable Securities
and a Shelf Registration Statement (which may be a combined Registration
Statement with the Exchange Offer Registration Statement) with respect to offers
and sales of Registrable Securities held by the Initial Purchasers after
completion of the Exchange Offer.

     The Company and the Guarantors agree to use their reasonable best efforts
to keep the Shelf Registration Statement continuously effective until the
expiration of the period referred to in Rule 144(k) under the Securities Act
with respect to the Registrable Securities or

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such shorter period that will terminate when all the Registrable Securities
covered by the Shelf Registration Statement have been sold pursuant to the Shelf
Registration Statement or are no longer outstanding (the "Shelf Effectiveness
Period"). The Company and the Guarantors further agree to supplement or amend
the Shelf Registration Statement and the related Prospectus if required by the
rules, regulations or instructions applicable to the registration form used by
the Company for such Shelf Registration Statement or by the Securities Act or by
any other rules and regulations thereunder for shelf registration or if
reasonably and timely requested by a Holder of Registrable Securities with
respect to information relating to such Holder, and to use their reasonable best
efforts to cause any such amendment to become effective and such Shelf
Registration Statement and Prospectus to become usable as soon as thereafter
practicable. The Company and the Guarantors agree to furnish to the Holders of
Registrable Securities copies of any such supplement or amendment promptly after
its being used or filed with the SEC.

     (c) The Company and the Guarantors shall pay all Registration Expenses in
connection with the registration pursuant to Section 2(a) and Section 2(b)
hereof. Each Holder shall pay all underwriting discounts and commissions and
transfer taxes, if any, relating to the sale or disposition of such Holder's
Registrable Securities pursuant to the Shelf Registration Statement.

     (d) An Exchange Offer Registration Statement pursuant to Section 2(a)
hereof or a Shelf Registration Statement pursuant to Section 2(b) hereof will
not be deemed to have become effective unless it has been declared effective by
the SEC.

     In the event that either the Exchange Offer is not completed or the Shelf
Registration Statement, if required hereby, is not declared effective on or
prior to November 27, 2003 (the "Target Registration Date"), the interest rate
on the Registrable Securities will be increased by (i) 0.25% per annum for the
first 90-day period immediately following the Target Registration Date and (ii)
an additional 0.25% per annum with respect to each subsequent 90-day period, in
each case until the Exchange Offer is completed or the Shelf Registration
Statement, if required hereby, is declared effective by the SEC or the
Securities become freely tradable under the Securities Act; provided, however,
that in no event shall the aggregate amount of additional interest accruing
under this paragraph exceed in the aggregate 1.00% per annum; provided further
however, upon the completion of the Exchange Offer, effectiveness of the Shelf
Registration Statement or satisfaction of the holding period specified in Rule
144(k) promulgated under the Securities Act, as applicable, the additional
interest in this paragraph shall cease to accrue.

     If the Shelf Registration Statement has been declared effective and
thereafter either ceases to be effective or the Prospectus contained therein
ceases to be usable at any time during the Shelf Effectiveness Period, and such
failure to remain effective or usable exists for more than 30 days (whether or
not consecutive) in any consecutive 12-month period, then the interest rate on
the Registrable Securities will be increased by 1.00% per annum commencing on
the 31st day in such 12-month period and ending on such date that the Shelf

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Registration Statement has again been declared effective or the Prospectus again
becomes usable.

     (e) Without limiting the remedies available to the Initial Purchasers and
the Holders, the Company and the Guarantors acknowledge that any failure by the
Company or the Guarantors to comply with their obligations under Section 2(a)
and Section 2(b) hereof may result in material irreparable injury to the Initial
Purchasers or the Holders for which there is no adequate remedy at law, that it
will not be possible to measure damages for such injuries precisely and that, in
the event of any such failure, the Initial Purchasers or any Holder may obtain
such relief as may be required to specifically enforce the Company's and the
Guarantors' obligations under Section 2(a) and Section 2(b) hereof.

     3. Registration Procedures. In connection with their obligations pursuant
to Section 2(a) and Section 2(b) hereof, the Company and the Guarantors shall as
promptly as practicible:

     (a) prepare and file with the SEC a Registration Statement on the
appropriate form under the Securities Act, which form (x) shall be selected by
the Company and the Guarantors, (y) shall, in the case of a Shelf Registration,
be available for the sale of the Registrable Securities by the selling Holders
thereof and (z) shall comply as to form in all material respects with the
requirements of the applicable form and include all financial statements
required by the SEC to be filed therewith; and use their reasonable best efforts
to cause such Registration Statement to become effective and remain effective
for the applicable period in accordance with Section 2 hereof;

     (b) prepare and file with the SEC such amendments and post-effective
amendments to each Registration Statement as may be necessary to keep such
Registration Statement effective for the applicable period in accordance with
Section 2 hereof and cause each Prospectus to be supplemented by any required
prospectus supplement and, as so supplemented, to be filed pursuant to Rule 424
under the Securities Act; and keep each Prospectus current during the period
described in Section 4(3) of and Rule 174 under the Securities Act that is
applicable to transactions by brokers or dealers with respect to the Registrable
Securities or Exchange Securities;

     (c) in the case of a Shelf Registration, furnish to each Holder of
Registrable Securities, to counsel for the Initial Purchasers, to counsel for
such Holders and to each Underwriter of an Underwritten Offering of Registrable
Securities, if any, without charge, as many copies of each Prospectus reasonably
requested, including each preliminary Prospectus, and any amendment or
supplement thereto, in order to facilitate the sale or other disposition of the
Registrable Securities thereunder; and the Company and the Guarantors consent to
the use of such Prospectus and any amendment or supplement thereto in accordance
with applicable law by each of the selling Holders of Registrable Securities and
any such Underwriters in connection with the offering and sale of the
Registrable Securities cov-

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ered by and in the manner described in such Prospectus or any amendment or
supplement thereto in accordance with applicable law;

     (d) use their reasonable best efforts to register or qualify the
Registrable Securities under all applicable state securities or blue sky laws of
such jurisdictions as any Holder of Registrable Securities covered by a
Registration Statement shall reasonably request in writing prior to the date
that the applicable Registration Statement is declared effective by the SEC;
cooperate with the Holders in connection with any filings required to be made
with the National Association of Securities Dealers, Inc.; and do any and all
other acts and things that may be reasonably necessary or advisable to enable
each Holder to complete the disposition in each such jurisdiction of the
Registrable Securities owned by such Holder; provided that neither the Company
nor any Guarantor shall be required to (i) qualify as a foreign corporation or
other entity or as a dealer in securities in any such jurisdiction where it
would not otherwise be required to so qualify, (ii) file any general consent to
service of process in any such jurisdiction or (iii) subject itself to taxation
in any such jurisdiction if it is not so subject;

     (e) in the case of a Shelf Registration, notify each Holder of Registrable
Securities, counsel for such Holders and counsel for the Initial Purchasers
promptly and, if requested by any such Holder or counsel, confirm such advice in
writing (i) when a Registration Statement has become effective and when any
post-effective amendment thereto has been filed and becomes effective, (ii) of
any request by the SEC or any state securities authority for amendments and
supplements to a Registration Statement and Prospectus or for additional
information after the Registration Statement has become effective, (iii) of the
issuance by the SEC or any state securities authority of any stop order
suspending the effectiveness of a Registration Statement or the initiation of
any proceedings for that purpose, (iv) if, between the effective date of a
Registration Statement and the closing of any sale of Registrable Securities
covered thereby, the representations and warranties of the Company or any
Guarantor contained in any underwriting agreement, securities sales agreement or
other similar agreement, if any, relating to an offering of such Registrable
Securities cease to be true and correct in all material respects or if the
Company or any Guarantor receives any notification with respect to the
suspension of the qualification of the Registrable Securities for sale in any
jurisdiction or the initiation of any proceeding for such purpose, (v) of the
happening of any event during the period a Shelf Registration Statement is
effective that makes any statement made in such Registration Statement or the
related Prospectus untrue in any material respect or that requires the making of
any changes in such Registration Statement or Prospectus in order to make the
statements therein not misleading and (vi) of any determination by the Company
or any Guarantor that a post-effective amendment to a Registration Statement
would be appropriate;

     (f) use their reasonable best efforts to obtain the withdrawal of any order
suspending the effectiveness of a Registration Statement at the earliest
possible moment and provide prompt notice to each Holder of the withdrawal of
any such order;

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     (g) in the case of a Shelf Registration, if requested, furnish to each
Holder of Registrable Securities, without charge, at least one conformed copy of
each Registration Statement and any post-effective amendment thereto (without
any documents incorporated therein by reference or exhibits thereto, unless
requested);

     (h) in the case of a Shelf Registration, cooperate with the selling Holders
of Registrable Securities to facilitate the timely preparation and delivery of
certificates representing Registrable Securities to be sold and not bearing any
restrictive legends and enable such Registrable Securities to be issued in such
denominations and registered in such names (consistent with the provisions of
the Indenture) as the selling Holders may reasonably request at least one
Business Day prior to the closing of any sale of Registrable Securities;

     (i) in the case of a Shelf Registration, upon the occurrence of any event
contemplated by Section 3(e)(v) hereof, use their reasonable best efforts to
prepare and file with the SEC a supplement or post-effective amendment to a
Registration Statement or the related Prospectus or any document incorporated
therein by reference or file any other required document so that, as thereafter
delivered to purchasers of the Registrable Securities, such Prospectus will not
contain any untrue statement of a material fact or omit to state a material fact
necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading; and the Company and the Guarantors
shall notify the Holders of Registrable Securities to suspend use of the
Prospectus as promptly as practicable after the occurrence of such an event, and
such Holders hereby agree to suspend use of the Prospectus until the Company and
the Guarantors have amended or supplemented the Prospectus to correct such
misstatement or omission;

     (j) a reasonable time prior to the filing of any Registration Statement,
any Prospectus, any amendment to a Registration Statement or amendment or
supplement to a Prospectus or of any document that is to be incorporated by
reference into a Registration Statement or a Prospectus after initial filing of
a Registration Statement, provide copies of such document to the Initial
Purchasers and their counsel (and, in the case of a Shelf Registration
Statement, to the Holders of Registrable Securities and their counsel) and make
such of the representatives of the Company and the Guarantors as shall be
reasonably requested by the Initial Purchasers or their counsel (and, in the
case of a Shelf Registration Statement, the Holders of Registrable Securities or
their counsel) available for discussion of such document; and the Company and
the Guarantors shall not, at any time after initial filing of a Registration
Statement, file any Prospectus, any amendment of or supplement to a Registration
Statement or a Prospectus, or any document that is to be incorporated by
reference into a Registration Statement or a Prospectus, of which the Initial
Purchasers and their counsel (and, in the case of a Shelf Registration
Statement, the Holders of Registrable Securities and their counsel) shall not
have previously been advised and furnished a copy or to which the Initial
Purchasers or their counsel (and, in the case of a Shelf Registration Statement,
the Holders or their counsel) shall reasonably object;

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     (k) obtain a CUSIP number for all Exchange Securities or Registrable
Securities, as the case may be, not later than the effective date of a
Registration Statement;

     (l) cause the Indenture to be qualified under the Trust Indenture Act in
connection with the registration of the Exchange Securities or Registrable
Securities, as the case may be; cooperate with the Trustee and the Holders to
effect such changes to the Indenture as may be required for the Indenture to be
so qualified in accordance with the terms of the Trust Indenture Act; and
execute, and use their reasonable best efforts to cause the Trustee to execute,
all documents as may be required to effect such changes and all other forms and
documents required to be filed with the SEC to enable the Indenture to be so
qualified in a timely manner;

     (m) in the case of a Shelf Registration, make available for inspection by a
representative of the Holders of the Registrable Securities (an "Inspector"),
any Underwriter participating in any disposition pursuant to such Shelf
Registration Statement, and attorneys and accountants designated by the Holders,
at reasonable times and in a reasonable manner, all pertinent financial and
other records, documents and properties of the Company and the Guarantors, and
cause the respective officers, directors and employees of the Company and the
Guarantors to supply all information reasonably requested by any such Inspector,
Underwriter, attorney or accountant in connection with a Shelf Registration
Statement; provided that if any such information is identified by the Company or
any Guarantor as being confidential or proprietary, each Person receiving such
information shall take such actions as are reasonably necessary to protect the
confidentiality of such information to the extent such action is otherwise not
inconsistent with, an impairment of or in derogation of the rights and interests
of any Inspector, Holder or Underwriter);

     (n) in the case of a Shelf Registration, use their reasonable best efforts
to cause all Registrable Securities to be listed on any securities exchange or
any automated quotation system on which similar securities issued or guaranteed
by the Company or any Guarantor are then listed if requested by the Majority
Holders, to the extent such Registrable Securities satisfy applicable listing
requirements;

     (o) if reasonably requested by any Holder of Registrable Securities covered
by a Registration Statement, promptly incorporate in a Prospectus supplement or
post-effective amendment such information with respect to such Holder as such
Holder reasonably requests to be included therein and make all required filings
of such Prospectus supplement or such post-effective amendment as soon as the
Company has received notification of the matters to be incorporated in such
filing; and

     (p) in the case of a Shelf Registration, enter into such customary
agreements and take all such other reasonable actions in connection therewith
(including those requested by the Holders of a majority in principal amount of
the Registrable Securities being sold) in order to expedite or facilitate the
disposition of such Registrable Securities including, but not limited to, an
Underwritten Offering and in such connection, (i) to the extent possible, make

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such representations and warranties to the Holders and any Underwriters of such
Registrable Securities with respect to the business of the Company and its
subsidiaries, the Registration Statement, Prospectus and documents incorporated
by reference or deemed incorporated by reference, if any, in each case, in form,
substance and scope as are customarily made by issuers to underwriters in
underwritten offerings and confirm the same if and when requested, (ii) obtain
opinions of counsel to the Company and the Guarantors (which counsel and
opinions, in form, scope and substance, shall be reasonably satisfactory to the
Holders and such Underwriters and their respective counsel) addressed to each
selling Holder and Underwriter of Registrable Securities, covering the matters
customarily covered in opinions requested in underwritten offerings, (iii)
obtain "comfort" letters from the independent certified public accountants of
the Company and the Guarantors (and, if necessary, any other certified public
accountant of any subsidiary of the Company or any Guarantor, or of any business
acquired by the Company or any Guarantor for which financial statements and
financial data are or are required to be included in the Registration Statement)
addressed to each selling Holder and Underwriter of Registrable Securities, such
letters to be in customary form and covering matters of the type customarily
covered in "comfort" letters in connection with underwritten offerings and (iv)
deliver such documents and certificates as may be reasonably requested by the
Holders of a majority in principal amount of the Registrable Securities being
sold or the Underwriters, and which are customarily delivered in underwritten
offerings, to evidence the continued validity of the representations and
warranties of the Company and the Guarantors made pursuant to clause (i) above
and to evidence compliance with any customary conditions contained in an
underwriting agreement.

     In the case of a Shelf Registration Statement, the Company and the
Guarantors may require each Holder of Registrable Securities to furnish to the
Company and the Guarantors such information regarding such Holder and the
proposed disposition by such Holder of such Registrable Securities as the
Company and the Guarantors may from time to time reasonably request in writing.
The Company may exclude from such registration the Registrable Securities of any
Holder who unreasonably fails to furnish such information within a reasonable
time after receiving such request. Each Holder as to which any Shelf
Registration Statement is being effected shall furnish promptly to the Company
all information required to be disclosed in order to make the information
previously furnished to the Company by such Holder not materially misleading.

     In the case of a Shelf Registration Statement, each Holder of Registrable
Securities agrees that, upon receipt of any notice from the Company and the
Guarantors of the happening of any event of the kind described in Section
3(e)(iii) or 3(e)(v) hereof or (ii) if the Company has determined in good faith
that such Shelf Registration Statement, and any such amendment thereto, might
interfere with or affect the negotiation or completion of any transaction that
is being contemplated by the Company (whether or not a final decision has been
made to undertake such transaction) at the time the notice is provided, such
Holder will forthwith discontinue disposition of Registrable Securities pursuant
to a Registration Statement until such Holder's receipt of the copies of the
supplemented or amended Prospectus contemplated by Section 3(i) hereof and, if
so directed by the Company and the Guarantors,

                                       12

<PAGE>

such Holder will deliver to the Company and the Guarantors all copies in its
possession, other than permanent file copies then in such Holder's possession,
of the Prospectus covering such Registrable Securities that is current at the
time of receipt of such notice.

     If the Company and the Guarantors shall give any such notice to suspend the
disposition of Registrable Securities pursuant to a Registration Statement, the
Company and the Guarantors shall extend the period during which the Registration
Statement shall be maintained effective pursuant to this Agreement by the number
of days during the period from and including the date of the giving of such
notice to and including the date when the Holders shall have received copies of
the supplemented or amended Prospectus necessary to resume such dispositions.
The Company and the Guarantors may give any such notice only twice during any
consecutive 365-day period and any such suspensions shall not exceed 30 days for
each suspension and there shall not be more than two suspensions in effect
during any consecutive 365-day period.

     The Holders of Registrable Securities covered by a Shelf Registration
Statement who desire to do so may sell such Registrable Securities in an
Underwritten Offering. In any such Underwritten Offering, the investment banker
or investment bankers and manager or managers (the "Underwriters") that will
administer the offering will be selected by the Majority Holders of the
Registrable Securities included in such offering.

     4. Participation of Broker-Dealers in Exchange Offer. (a) The Staff of the
SEC has taken the position that any broker-dealer that receives Exchange
Securities for its own account in the Exchange Offer in exchange for Securities
that were acquired by such broker-dealer as a result of market-making or other
trading activities (a "Participating Broker-Dealer") may be deemed to be an
"underwriter" within the meaning of the Securities Act and must deliver a
prospectus meeting the requirements of the Securities Act in connection with any
resale of such Exchange Securities.

     The Company and the Guarantors understand that it is the Staff's position
that if the Prospectus contained in the Exchange Offer Registration Statement
includes a plan of distribution containing a statement to the above effect and
the means by which Participating Broker-Dealers may resell the Exchange
Securities, without naming the Participating Broker-Dealers or specifying the
amount of Exchange Securities owned by them, such Prospectus may be delivered by
Participating Broker-Dealers to satisfy their prospectus delivery obligation
under the Securities Act in connection with resales of Exchange Securities for
their own accounts, so long as the Prospectus otherwise meets the requirements
of the Securities Act.

     (b) In light of the above, and notwithstanding the other provisions of this
Agreement, the Company and the Guarantors agree to amend or supplement the
Prospectus contained in the Exchange Offer Registration Statement, as would
otherwise be contemplated by Section 3(i), for a period of up to 180 days after
the last Exchange Date (as such period may be extended pursuant to the
penultimate paragraph of Section 3 of this Agreement), if requested by the
Initial Purchasers or by one or more Participating Broker-Dealers,

                                       13

<PAGE>

in order to expedite or facilitate the disposition of any Exchange Securities by
Participating Broker-Dealers consistent with the positions of the Staff recited
in Section 4(a) above. The Company and the Guarantors further agree that
Participating Broker-Dealers shall be authorized to deliver such Prospectus
during such period in connection with the resales contemplated by this Section
4.

     (c) The Initial Purchasers shall have no liability to the Company, any
Guarantor or any Holder with respect to any request that they may make pursuant
to Section 4(b) above.

     5. Indemnification and Contribution. (a) The Company and each Guarantor,
jointly and severally, agree to indemnify and hold harmless each Initial
Purchaser and each Holder, their respective affiliates, directors and officers
and each Person, if any, who controls any Initial Purchaser or any Holder within
the meaning of Section 15 of the Securities Act or Section 20 of the Exchange
Act, from and against any and all losses, claims, damages and liabilities
(including, without limitation, reasonable legal fees and other reasonable
expenses incurred in connection with any suit, action or proceeding or any claim
asserted, as such fees and expenses are incurred), joint or several, that arise
out of, or are based upon, any untrue statement or alleged untrue statement of a
material fact contained in any Registration Statement or any Prospectus or any
omission or alleged omission to state therein a material fact required to be
stated therein or necessary in order to make the statements therein, in the
light of the circumstances under which they were made, not misleading, except
insofar as such losses, claims, damages or liabilities arise out of, or are
based upon, any untrue statement or omission or alleged untrue statement or
omission made in reliance upon and in conformity with any information relating
to any Initial Purchaser or any Holder furnished to the Company in writing by
any Initial Purchaser or any selling Holder expressly for use therein; provided,
however, that the foregoing indemnity with respect to any Prospectus shall not
inure to the benefit of any Initial Purchaser or Holder (or to the benefit of
any Person that controls or is an affiliate, director or officer of, such
Initial Purchaser or Holder) from whom the Person asserting any such losses,
claims, damages or liabilities purchased Registrable Securities or Exchange
Securities if (i) such untrue statement or omission or alleged untrue statement
or omission made in a Prospectus was corrected in the final Prospectus and (ii)
a copy of the Prospectus (as so amended or supplemented) shall not have been
furnished to such Person at or prior to the sale of such Registrable Securities
or Exchange Securities, as the case may be, to such Person. In connection with
any Underwritten Offering permitted by Section 3, the Company and the
Guarantors, jointly and severally, will also indemnify the Underwriters, if any,
selling brokers, dealers and similar securities industry professionals
participating in the distribution, their respective affiliates and each Person
who controls such Persons (within the meaning of the Securities Act and the
Exchange Act) to the same extent as provided above with respect to the
indemnification of the Holders, if requested in connection with any Registration
Statement.

     (b) Each Holder agrees, severally and not jointly, to indemnify and hold
harmless the Company, the Guarantors, the Initial Purchasers and the other
selling Holders, their re-

                                       14

<PAGE>

spective affiliates, the directors of the Company and the Guarantors, each
officer of the Company and the Guarantors who signed the Registration Statement
and each Person, if any, who controls the Company, the Guarantors, any Initial
Purchaser and any other selling Holder within the meaning of Section 15 of the
Securities Act or Section 20 of the Exchange Act to the same extent as the
indemnity set forth in paragraph (a) above, but only with respect to any losses,
claims, damages or liabilities that arise out of, or are based upon, any untrue
statement or omission or alleged untrue statement or omission made in reliance
upon and in conformity with any information relating to such Holder furnished to
the Company in writing by such Holder expressly for use in any Registration
Statement and any Prospectus.

     (c) If any suit, action, proceeding (including any governmental or
regulatory investigation), claim or demand shall be brought or asserted against
any Person in respect of which indemnification may be sought pursuant to either
paragraph (a) or (b) above, such Person (the "Indemnified Person") shall
promptly notify the Person against whom such indemnification may be sought (the
"Indemnifying Person") in writing; provided that the failure to notify the
Indemnifying Person shall not relieve it from any liability that it may have
under this Section 5 except to the extent that it has been materially prejudiced
(through the forfeiture of substantive rights or defenses) by such failure; and
provided, further, that the failure to notify the Indemnifying Person shall not
relieve it from any liability that it may have to an Indemnified Person
otherwise than under this Section 5. If any such proceeding shall be brought or
asserted against an Indemnified Person and it shall have notified the
Indemnifying Person thereof, the Indemnifying Person shall retain counsel
reasonably satisfactory to the Indemnified Person to represent the Indemnified
Person and any others entitled to indemnification pursuant to this Section 5
that the Indemnifying Person may designate in such proceeding and shall pay the
reasonable fees and expenses of such counsel related to such proceeding, as
actually incurred. In any such proceeding, any Indemnified Person shall have the
right to retain its own counsel, but the fees and expenses of such counsel shall
be at the expense of such Indemnified Person unless: (i) the Indemnifying Person
and the Indemnified Person shall have mutually agreed to the contrary; (ii) the
Indemnifying Person has failed within a reasonable time to retain counsel
reasonably satisfactory to the Indemnified Person; (iii) the Indemnified Person
shall have reasonably concluded (based on the advice of counsel of such
Indemnified Person) that there may be legal defenses available to it that are
different from or in addition to those available to the Indemnifying Person; or
(iv) the named parties in any such proceeding (including any impleaded parties)
include both the Indemnifying Person and the Indemnified Person and
representation of both parties by the same counsel would be inappropriate due to
actual or potential differing interests between them. It is understood and
agreed that the Indemnifying Person shall not, in connection with any proceeding
or related proceeding in the same jurisdiction, be liable for the fees and
expenses of more than one separate firm (in addition to any local counsel) for
all Indemnified Persons, and that all such reasonable fees and expenses shall be
reimbursed as they are actually incurred. Any such separate firm (x) for any
Initial Purchaser, its affiliates, directors and officers and any control
Persons of such Initial Purchaser shall be designated in writing by J.P. Morgan
Securities Inc., (y) for any Holder, its affiliates, directors and officers and
any control Persons of such Holder shall be designated in writing by the
Majority Holders and (z) in all other cases

                                       15

<PAGE>

shall be designated in writing by the Company. The Indemnifying Person shall not
be liable for any settlement of any proceeding effected without its written
consent, but if settled with such consent or if there be a final judgment for
the plaintiff, the Indemnifying Person agrees to indemnify each Indemnified
Person from and against any loss or liability by reason of such settlement or
judgment. Notwithstanding the foregoing sentence, if at any time an Indemnified
Person shall have requested that an Indemnifying Person reimburse the
Indemnified Person for fees and expenses of counsel as contemplated by this
paragraph, the Indemnifying Person shall be liable for any settlement of any
proceeding effected without its written consent if (i) such settlement is
entered into more than 30 days after receipt by the Indemnifying Person of such
request and (ii) the Indemnifying Person shall not have reimbursed the
Indemnified Person in accordance with such request prior to the date of such
settlement. No Indemnifying Person shall, without the written consent of the
Indemnified Person, effect any settlement of any pending or threatened
proceeding in respect of which any Indemnified Person is or could have been a
party and indemnification could have been sought hereunder by such Indemnified
Person, unless such settlement (A) includes an unconditional release of such
Indemnified Person, in form and substance reasonably satisfactory to such
Indemnified Person, from all liability on claims that are the subject matter of
such proceeding and (B) does not include any statement as to or any admission of
fault, culpability or a failure to act by or on behalf of any Indemnified
Person.

     (d) If the indemnification provided for in paragraphs (a) and (b) above is
unavailable to an Indemnified Person or insufficient in respect of any losses,
claims, damages or liabilities referred to therein, then each Indemnifying
Person under such paragraph, in lieu of indemnifying such Indemnified Person
thereunder, shall contribute to the amount paid or payable by such Indemnified
Person as a result of such losses, claims, damages or liabilities (i) in such
proportion as is appropriate to reflect the relative benefits received by the
Company and the Guarantors from the offering of the Securities and the Exchange
Securities, on the one hand, and by the Holders from receiving Securities or
Exchange Securities registered under the Securities Act, on the other hand, or
(ii) if the allocation provided by clause (i) is not permitted by applicable
law, in such proportion as is appropriate to reflect not only the relative
benefits referred to in clause (i) but also the relative fault of the Company
and the Guarantors on the one hand and the Holders on the other in connection
with the statements or omissions that resulted in such losses, claims, damages
or liabilities, as well as any other relevant equitable considerations. The
relative fault of the Company and the Guarantors on the one hand and the Holders
on the other shall be determined by reference to, among other things, whether
the untrue or alleged untrue statement of a material fact or the omission or
alleged omission to state a material fact relates to information supplied by the
Company and the Guarantors or by the Holders and the parties' relative intent,
knowledge, access to information and opportunity to correct or prevent such
statement or omission.

     (e) The Company, the Guarantors and the Holders agree that it would not be
just and equitable if contribution pursuant to this Section 5 were determined by
pro rata allocation (even if the Holders were treated as one entity for such
purpose) or by any other method of allocation that does not take account of the
equitable considerations referred to in paragraph

                                       16

<PAGE>

(d) above. The amount paid or payable by an Indemnified Person as a result of
the losses, claims, damages and liabilities referred to in paragraph (d) above
shall be deemed to include, subject to the limitations set forth above, any
reasonable legal or other reasonable expenses incurred by such Indemnified
Person in connection with any such action or claim. Notwithstanding the
provisions of this Section 5, in no event shall a Holder be required to
contribute any amount in excess of the amount by which the total price at which
the Securities or Exchange Securities sold by such Holder exceeds the amount of
any damages that such Holder has otherwise been required to pay by reason of
such untrue or alleged untrue statement or omission or alleged omission. No
Person guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any Person
who was not guilty of such fraudulent misrepresentation.

     (f) The remedies provided for in this Section 5 are not exclusive and shall
not limit any rights or remedies that may otherwise be available to any
Indemnified Person at law or in equity.

     (g) The indemnity and contribution provisions contained in this Section 5
shall remain operative and in full force and effect regardless of (i) any
termination of this Agreement, (ii) any investigation made by or on behalf of
the Initial Purchasers or any Holder, their respective affiliates or any Person
controlling any Initial Purchaser or any Holder, or by or on behalf of the
Company or the Guarantors, their respective affiliates or the officers or
directors of or any Person controlling the Company or the Guarantors, (iii)
acceptance of any of the Exchange Securities and (iv) any sale of Registrable
Securities pursuant to a Shelf Registration Statement.

     6. General.

     (a) No Inconsistent Agreements. The Company and the Guarantors represent,
warrant and agree that (i) the rights granted to the Holders hereunder do not in
any way conflict with and are not inconsistent with the rights granted to the
holders of any other outstanding securities issued or guaranteed by the Company
or any Guarantor under any other agreement and (ii) neither the Company nor any
Guarantor has entered into, or on or after the date of this Agreement will enter
into, any agreement that is inconsistent with the rights granted to the Holders
of Registrable Securities in this Agreement or otherwise conflicts with the
provisions hereof.

     (b) Amendments and Waivers. The provisions of this Agreement, including the
provisions of this sentence, may not be amended, modified or supplemented, and
waivers or consents to departures from the provisions hereof may not be given
unless the Company and the Guarantors have obtained the written consent of
Holders of at least a majority in aggregate principal amount of the outstanding
Registrable Securities affected by such amendment, modification, supplement,
waiver or consent; provided that no amendment, modification, supplement, waiver
or consent to any departure from the provisions of Section 5 hereof shall be
effective as against any Holder of Registrable Securities unless consented to in

                                       17

<PAGE>

writing by such Holder. Any amendments, modifications, supplements, waivers or
consents pursuant to this Section 6(b) shall be by a writing executed by each of
the parties hereto.

     (c) Notices. All notices and other communications provided for or permitted
hereunder shall be made in writing by hand-delivery, registered first-class
mail, telex, telecopier, or any courier guaranteeing overnight delivery (i) if
to a Holder, at the most current address given by such Holder to the Company by
means of a notice given in accordance with the provisions of this Section 6(c),
which address initially is, with respect to the Initial Purchasers, notices
shall be sent to the address set forth in the Purchase Agreement, (ii) if to the
Company and the Guarantors, initially at the Company's address set forth in the
Purchase Agreement and thereafter at such other address, notice of which is
given in accordance with the provisions of this Section 6(c) and (iii) to such
other persons at their respective addresses as provided in the Purchase
Agreement and thereafter at such other address, notice of which is given in
accordance with the provisions of this Section 6(c). All such notices and
communications shall be deemed to have been duly given at the time delivered by
hand, if personally delivered; five Business Days after being deposited in the
mail, postage prepaid, if mailed; when answered back, if telexed; when receipt
is acknowledged, if telecopied; and on the next Business Day if timely delivered
to an air courier guaranteeing overnight delivery. Copies of all such notices,
demands or other communications shall be concurrently delivered by the Person
giving the same to the Trustee, at the address specified in the Indenture.

     (d) Successors and Assigns. This Agreement shall inure to the benefit of
and be binding upon the successors, assigns and transferees of each of the
parties, including, without limitation and without the need for an express
assignment, subsequent Holders; provided that nothing herein shall be deemed to
permit any assignment, transfer or other disposition of Registrable Securities
in violation of the terms of the Purchase Agreement or the Indenture. If any
transferee of any Holder shall acquire Registrable Securities in any manner,
whether by operation of law or otherwise, such Registrable Securities shall be
held subject to all the terms of this Agreement, and by taking and holding such
Registrable Securities such Person shall be conclusively deemed to have agreed
to be bound by and to perform all of the terms and provisions of this Agreement
and such Person shall be entitled to receive the benefits hereof. The Initial
Purchasers (in their capacity as Initial Purchasers) shall have no liability or
obligation to the Company or the Guarantors with respect to any failure by a
Holder to comply with, or any breach by any Holder of, any of the obligations of
such Holder under this Agreement.

     (e) Purchases and Sales of Securities. The Company and the Guarantors shall
not, and shall use their reasonable best efforts to cause their affiliates (as
defined in Rule 405 under the Securities Act) not to, purchase and then resell
or otherwise transfer any Registrable Securities.

     (f) Third Party Beneficiaries. Each Holder shall be a third party
beneficiary to the agreements made hereunder between the Company and the
Guarantors, on the one hand,

                                       18

<PAGE>

and the Initial Purchasers, on the other hand, and shall have the right to
enforce such agreements directly to the extent it deems such enforcement
necessary or advisable to protect its rights or the rights of other Holders
hereunder.

     (g) Counterparts. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

     (h) Headings. The headings in this Agreement are for convenience of
reference only, are not a part of this Agreement and shall not limit or
otherwise affect the meaning hereof.

     (i) Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York.

     (j) Miscellaneous. This Agreement contains the entire agreement between the
parties relating to the subject matter hereof and supersedes all oral statements
and prior writings with respect thereto. If any term, provision, covenant or
restriction contained in this Agreement is held by a court of competent
jurisdiction to be invalid, void or unenforceable or against public policy, the
remainder of the terms, provisions, covenants and restrictions contained herein
shall remain in full force and effect and shall in no way be affected, impaired
or invalidated. The Company, the Guarantors and the Initial Purchasers shall
endeavor in good faith negotiations to replace the invalid, void or
unenforceable provisions with valid provisions the economic effect of which
comes as close as possible to that of the invalid, void or unenforceable
provisions.

                                       19

<PAGE>

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

                                             FASTENTECH, INC.

                                             By: /s/ David L Harbert
                                                 -------------------------------
                                             Name: David L. Harbert
                                             Title: Chief Financial Officer,
                                                Executive Vice President,
                                                Treasurer and Secretary

                                             PROGRESSIVE STAMPING CO. (DE), INC.

                                             By: /s/ Ronald B. Kalich
                                                 -------------------------------
                                             Name: Ronald B. Kalich
                                             Title: Vice President

                                             NELSON STUD WELDING, INC.

                                             By: /s/ David L Harbert
                                                 -------------------------------
                                             Name: David L. Harbert
                                             Title: Executive Vice President,
                                                Treasurer and Secretary

                                             FABRI-STEEL PRODUCTS INCORPORATED

                                             By: /s/ David L Harbert
                                                 -------------------------------
                                             Name: David L. Harbert
                                             Title: Chief Financial Officer,
                                                Executive Vice President,
                                                Treasurer and Secretary

                                             NELSON STUD WELDING INTERNATIONAL,
                                             INC.

                                             By: /s/ David L Harbert
                                                 -------------------------------
                                             Name: David L. Harbert
                                             Title: President and Assistant
                                                Secretary

                                       20

<PAGE>

                                             PROFILE STEEL AND WIRE, INC.

                                             By: /s/ David L Harbert
                                                 -------------------------------
                                             Name: David L. Harbert
                                             Title: President and Assistant
                                                Secretary

                                             THE FERRY CAP AND SET SCREW COMPANY

                                             By: /s/ Ronald B. Kalich
                                                 -------------------------------
                                             Name: Ronald B. Kalich
                                             Title: President

                                             SPECIALTY BAR PRODUCTS COMPANY

                                             By: /s/ David L Harbert
                                                 -------------------------------
                                             Name: David L. Harbert
                                             Title: Assistant Treasurer and
                                                Assistant Secretary

                                             INTEGRATED ENERGY TECHNOLOGIES,
                                             INC.

                                             By: /s/ David L Harbert
                                                 -------------------------------
                                             Name: David L. Harbert
                                             Title: Secretary and Treasurer

                                       21

<PAGE>

Confirmed and accepted as of the date first above written:

J.P. MORGAN SECURITIES INC.

For itself and on behalf of the
several Initial Purchasers

By /s/ [illegible]
   -------------------------------
       Authorized Signatory

                                       22

<PAGE>

                                                                      Schedule 1

                          List of Subsidiary Guarantors

Progressive Stamping Co. (DE), Inc.

Nelson Stud Welding, Inc.

Fabri-Steel Products Incorporated

Nelson Stud Welding International, Inc.

Profile Steel and Wire, Inc.

The Ferry Cap and Set Screw Company

Specialty Bar Products Company

Integrated Energy Technologies, Inc.<PAGE>

                                                                    EXHIBIT 10.1

                    SECURITIES PURCHASE AND HOLDERS AGREEMENT

          SECURITIES PURCHASE AND HOLDERS AGREEMENT, dated March 17, 2000 (the
"Agreement"), by and among FABRISTEEL HOLDINGS, INC., a Delaware corporation
(the "Company"), CITICORP VENTURE CAPITAL, LTD., a New York corporation ("CVC"),
the individuals and trusts listed as "Continuing Investors" on Schedule I hereto
(collectively, the "Continuing Investors"), the individuals listed as
"Management Investors" on Schedule II hereto and certain other Management
Investors who are offered the opportunity to join in this Agreement by the
Company and who execute a joinder to this Agreement substantially in the form of
Exhibit A-1 hereto (the "Management Investors") and the individuals and trusts
listed as "Other Investors" on Schedule III hereto (the "Other Investors"). As
used herein, CVC, the Continuing Investors, the Management Investors and the
Other Investors are sometimes referred to hereinafter individually as an
"Investor" and collectively as the "Investors."

          This Agreement is an annex to the Agreement and Plan of Merger dated
the date hereof (the "Merger Agreement"), binding upon each Investor, without
any further action on the part of such Investor.

                                   Background

          A. The Company, Fabri-Steel Products Incorporated, a Michigan
corporation ("Fabri-Steel") and Fabri-Steel Acquisition Corp., a Michigan
corporation ("FSAC"), are parties to the Merger Agreement pursuant to which FSAC
merged with and into Fabri-Steel with the separate existence of FSAC ceasing and
Fabri-Steel being the surviving corporation of the merger (the "Merger"). In
connection with the Merger, all of the outstanding shares of capital stock of
Fabri-Steel owned by the Investors were automatically converted on a one-for-one
basis into new shares of capital stock of the Company and the Company became the
owner of all of the outstanding capital stock of Fabri-Steel.

          B. As a consequence of the Merger, the acquisition of Progressive
Stamping Co., Inc. and the Nelson Stud Welding business from TRW Inc., the
Investors hold the number of shares of Class A Common Stock, the number of
shares of Class B Common Stock, the number of shares of Company's Series A 8%
Cumulative Senior Preferred Stock, par value $.01 per share (the "Series A
Preferred Stock"), the number of shares of Company's Series B 12% Cumulative
Junior Preferred Stock, par value $.01 per share (the "Series B Preferred
Stock"), the number of shares of Company's Series C 8% Cumulative Junior
Preferred Stock, par value $.01 per share (the "Series C Preferred Stock"), the
number of shares of Company's Series D 8% Cumulative Junior Preferred Stock, par
value $.01 per share (the "Series D Preferred Stock") and the number of shares
of Series F 10% Senior Preferred Stock ("Series F Preferred Stock") set forth
opposite their respective names on Schedule V hereto. As used herein, Class A
Common Stock and Class B Common Stock are sometimes collectively hereinafter
referred to as the "Common Stock," Series A Preferred Stock, Series B Preferred
Stock, Series C Preferred Stock,

                                     - 1 -

<PAGE>

Series D Preferred Stock and Series F Preferred Stock are sometimes collectively
hereinafter referred to as the "Preferred Stock," and the Common Stock and the
Preferred Stock are sometimes collectively hereinafter referred to as the
"Shares".

          C. As used herein, the term "Securities" shall mean Preferred Stock
and the Common Stock held by any party hereto, including shares of Common Stock
and Preferred Stock and all other securities of the Company (or a successor to
the Company) received on account of ownership of the Preferred Stock and Common
Stock, including all securities issued in connection with any merger,
consolidation, stock dividend, stock distribution, stock split, reverse stock
split, stock combination, recapitalization, reclassification, subdivision,
conversion or similar transaction in respect thereof; and the term "Company"
shall mean the Company and any of its successors.

          D. The Investors and the Company wish to set forth certain agreements
regarding their future relationships and their rights and obligations with
respect to the Securities.

                                      Terms

          In consideration of the mutual covenants contained herein and
intending to be legally bound hereby, the parties hereto agree as follows:

                                   ARTICLE I

                             PURCHASE OF SECURITIES

          1.1 Intentionally deleted.

          1.2 Intentionally deleted.

                                   ARTICLE II

                         REPRESENTATIONS, WARRANTIES AND
                            COVENANTS OF THE COMPANY

          2.1 Representations and Warranties of the Company. The Company
represents and warrants to, and covenants and agrees with, each of the Investors
as follows:

               (a) The Company is a corporation validly existing and in good
standing under the laws of the State of Delaware.

               (b) The Company has full corporate power and corporate authority
to make, execute, deliver and perform this Agreement and to carry out all of the
transactions provided for herein.

               (c) The Company has taken such corporate action as is necessary
or appropriate to enable it to perform its obligations hereunder, including, but
not limited to, the issuance and sale of the Securities to be issued by it, and
this Agreement constitutes the legal,

                                     - 2 -

<PAGE>

valid and binding obligation of the Company, enforceable against the Company in
accordance with the terms hereof.

               (d) The Securities when issued in compliance with the provisions
of this Agreement will be validly issued, fully paid and non-assessable.

               (e) As of the Closing, the authorized capital stock of the
Company will consist of (i) 2,500,000 shares of Class A Common Stock, of which
the number of shares reflected in Schedule V will be issued and outstanding
immediately after the Closing, (ii) 2,500,000 shares of Class B Common Stock, of
which the number of shares reflected in Schedule V will be issued and
outstanding immediately after the Closing, (iii) 910,000 shares of Series A
Preferred Stock, of which the number of shares reflected in Schedule V will be
issued and outstanding immediately after the Closing, (iv) 900,000 shares of
Series B Preferred Stock, of which the number of shares reflected in Schedule V
will be issued and outstanding immediately after the Closing, (v) 950,000 shares
of Series C Preferred Stock, of which the number of shares reflected in Schedule
V will be issued and outstanding immediately after the Closing, (vi) 850,000
shares of Series D Preferred Stock, of which the number of shares reflected in
Schedule V will be issued and outstanding immediately after the Closing, (vii)
65,000 shares of Series E Preferred Stock, of which no shares will be issued and
outstanding immediately after the Closing; and (viii) 35,000 shares of Series F
Preferred Stock, of which the number of shares reflected in Schedule V will be
issued and outstanding after the Closing . As of the Closing, except as provided
herein, there will be no rights, subscriptions, warrants, options, conversion
rights, or agreements of any kind outstanding to purchase from the Company, or
otherwise require the Company to issue, any shares of capital stock of the
Company or securities or obligations of any kind convertible into or
exchangeable for any shares of capital stock of the Company, except for (x) that
certain Stock Purchase Warrant dated April 1, 1999, granted by Fabri-Steel to
Citicorp Mezzanine Partners, L.P., a Delaware limited partnership, which the
Company has assumed by virtue of the Merger and pursuant to the terms of the
such Warrant, and (y) that certain Stock Purchase Warrant, dated March 17, 2000,
granted by the Company to Citicorp Mezzanine III, L.P., a Delaware limited
partnership.

                                  ARTICLE III

                         REPRESENTATIONS, WARRANTIES AND
                           COVENANTS OF EACH INVESTOR

          3.1 Intentionally deleted.

          3.2 Legend.

               (a) The certificates representing the Securities shall bear the
following legend in addition to any other legend required under applicable law:

          THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
          1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY
          STATE AND MAY NOT BE TRANSFERRED WITHOUT REGISTRATION UNDER THE

                                     - 3 -

<PAGE>

          SECURITIES ACT OR STATE SECURITIES LAWS OR AN OPINION OF COUNSEL,
          SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATION IS NOT REQUIRED.

          THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE ALSO SUBJECT TO THE
          TERMS AND CONDITIONS OF A SECURITIES PURCHASE AND HOLDERS AGREEMENT BY
          AND AMONG THE COMPANY AND THE HOLDERS SPECIFIED THEREIN, A COPY OF
          WHICH AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE OF THE COMPANY. THE
          SALE, TRANSFER OR OTHER DISPOSITION OF THE SECURITIES IS SUBJECT TO
          THE TERMS OF SUCH AGREEMENT AND THE SECURITIES ARE TRANSFERABLE ONLY
          UPON PROOF OF COMPLIANCE THEREWITH.

               (b) The certificates representing the Series A Preferred Stock
placed into escrow pursuant to that certain Recapitalization Agreement, dated
March 25, 1998, by and among Fabri-Steel, CVC and other signatories thereto (the
"Recapitalization"), shall bear the following legend in addition to the legend
set forth in Section 3.2(a) and any other legend required under applicable law:

          THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE ALSO SUBJECT TO THE
          TERMS AND CONDITIONS OF AN ESCROW AGREEMENT BY AND AMONG THE COMPANY,
          CITICORP VENTURE CAPITAL, LTD. AND THE OTHER SIGNATORIES THERETO A
          COPY OF WHICH AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE OF THE
          COMPANY. THE SALE, TRANSFER OR OTHER DISPOSITION OF THE SECURITIES AND
          THE PROCEEDS OF SUCH SALE, TRANSFER OR OTHER DISPOSITION IS SUBJECT TO
          THE TERMS OF SUCH AGREEMENT AND THE SECURITIES ARE TRANSFERABLE ONLY
          UPON PROOF OF COMPLIANCE THEREWITH. UPON REQUEST, THIS LEGEND WILL BE
          REMOVED UPON TERMINATION OF SUCH ESCROW AGREEMENT.

          3.3 Intentionally deleted.

          3.4 Restrictions on Transfers of Securities.

          The following restrictions on Transfer shall apply to all Securities
owned by any Investor or Permitted Transferee:

               (a) No Investor or Permitted Transferee shall Transfer (other
than in connection with a redemption or purchase by the Company) any Securities
unless (i) such Transfer is to a person or entity approved in advance in writing
by the holders of at least forty percent (40%) of the outstanding Common Stock
then held by the Investors (including shares held by the transferor) and (ii)
such Transfer complies with the provisions of Article IV, this

                                     - 4 -

<PAGE>

Section 3.4, and, in addition, in the case of Management Investors, Article VI
of this Agreement. Any purported Transfer in violation of this Agreement shall
be null and void and of no force and effect and the purported transferee shall
have no rights or privileges in or with respect to the Company. As used herein,
"Transfer" includes the making of any sale, exchange, assignment, hypothecation,
gift, security interest, pledge or other encumbrance, or any contract therefor,
any voting trust or other agreement or arrangement with respect to the transfer
of voting rights or any other beneficial interest in any of the Securities, the
creation of any other claim thereto or any other transfer or disposition
whatsoever, whether voluntary or involuntary, affecting the right, title,
interest or possession in or to such Securities.

          Prior to any proposed Transfer of any Securities (except a Transfer to
a Permitted Transferee of CVC), the holder thereof shall give written notice to
the Company describing the manner and circumstances of the proposed Transfer
accompanied by a written opinion of legal counsel, addressed to the Company and
the transfer agent, if other than the Company, and reasonably satisfactory in
form and substance to each addressee, to the effect that the proposed Transfer
of the Securities may be effected without registration under the Securities Act
and applicable state securities laws. Each certificate evidencing the Securities
transferred shall bear the legends set forth in Section 3.2, except that such
certificate shall not bear such legend if the opinion of counsel referred to
above is to the further effect that such legend is not required in order to
establish compliance with any provision of the Securities Act or applicable
state securities laws.

          Nothing in this Section 3.4(a) shall prevent the Transfer, free of any
restrictions under this Agreement, of Securities by an Investor or a Permitted
Transferee to one or more of its Permitted Transferees, or to the Company;
provided, however, that each such Investor or Permitted Transferee shall take
such Securities subject to and be fully bound by the terms of this Agreement
applicable to it with the same effect as if it were a party hereto; and
provided, further, that (i) no entity or person shall be a Permitted Transferee
unless such transferee executes a joinder to this Agreement in substantially the
form attached hereto as Exhibit A-2, which joinder states with respect to any
Permitted Transferee other than a natural person, that such Permitted Transferee
agrees to Transfer such Securities to the Investor from whom such Permitted
Transferee received such Securities immediately prior to the occurrence of any
event which would result in such person no longer being a Permitted Transferee
of such Investor, and (ii) no Transfer shall be effected except in compliance
with the registration requirements of the Securities Act or pursuant to an
available exemption therefrom. Each Investor agrees to accept the Transfer of
Securities to such Investor at any time from a Transferee of such Investor.

               (b) As used herein, "Permitted Transferee" shall mean:

                    (i) in the case of any Investor or Permitted Transferee who
is a natural person, such Investor's or Permitted Transferee's spouse or
children or grandchildren (in each case, natural or adopted), any trust for the
exclusive benefit of such Investor or Permitted Transferee or such Investor's or
Permitted Transferee's spouse or children or grandchildren (in each case,
natural or adopted), or any corporation or partnership in which the direct and
beneficial owner of all of the equity interest is such individual Investor or
Permitted Transferee or such Investor's or Permitted Transferee's spouse or
children or grandchildren (in each case, natural or adopted) (or any trust for
the exclusive benefit of such persons);

                                     - 5 -

<PAGE>

                    (ii) in the case of any Investor or Permitted Transferee who
is, in each case, a natural person, the heirs, executors, administrators or
personal representatives upon the death of such Investor or Permitted Transferee
or upon the incompetency or disability of such Investor or Permitted Transferee
for purposes of the protection and management of such Investor's or Permitted
Transferee's assets;

                    (iii) in the case of any Investor or Permitted Transferee
that is a trust, the grantor of such trust, any beneficiary of such trust who is
a spouse or child or grandchild (in each case, natural or adopted) of the
grantor of such trust, or any corporation, partnership, limited liability
company, trust or other entity in which all direct and beneficial ownership
interests are owned by the grantor of such trust, the spouse of the grantor of
such trust or one or more children or grandchildren (in each case, natural or
adopted) of the grantor of such trust;

                    (iv) in the case of any Investor or Permitted Transferee,
any person or other entity if such person or other entity takes such Securities
pursuant to a sale in connection with a Public Offering (as defined in Section
6.1(c)) or following a Public Offering in open market transactions or under Rule
144 under the Securities Act; and

                    (v) in the case of CVC or any CVC Affiliate, any of its
employees, officers or directors, any trust for any such employee, officer or
director's benefit or the benefit of any such person's spouse, children or
grandchildren (in each case, natural or adopted), any corporation, partnership
or other entity at least a majority of the equity in which is held in the
aggregate by CVC, its employees, officers or directors or any of their
respective Affiliates, any managers of the Company (in connection with the sale
of a maximum aggregate amount of 1,745 shares of Class B Common Stock and 5,511
shares of Series B Preferred Stock by CVC or any CVC Affiliate) or any directors
of the Company.

               (c) As used herein, "Affiliate" means with respect to any person,
(i) a corporation wholly-owned by a corporation that owns, directly or
indirectly through one or more intermediaries, more than fifty percent of such
person, or (ii) a corporation in which such person owns, directly or indirectly
through one or more intermediaries, more than fifty percent (50%) of the
outstanding capital stock of such corporation.

          3.5 Notation. A notation will be made in the appropriate transfer
records of the Company with respect to the restrictions on transfer of the
Securities referred to in this Agreement.

          3.6 Limitation on Repurchase of Company Stock. Each Investor
understands that the Company has entered or will enter into certain financing
agreements which will contain prohibitions, restrictions and limitations on the
ability of the Company to purchase any of the Securities and to pay dividends on
the Securities.

          3.7 Reliance. Each Investor acknowledges that the Company and each of
the other Investors is entering into this Agreement in reliance upon such
Investor's representations and warranties and other covenants and agreements
herein.

                                     - 6 -

<PAGE>

          3.8 Accredited Investor. Each of the Investors listed on Schedule V is
an "accredited investor" within the meaning of Rule 501 promulgated under the
Securities Act.

                                   ARTICLE IV

                       OTHER COVENANTS AND REPRESENTATIONS

          4.1 Observers' Rights. So long as CVC or its Affiliates own at least
5% (in the aggregate) of the Common Stock outstanding, if no employee of CVC or
its Affiliates is a member of the Company's Board of Directors, CVC shall have
the right to designate two observers (the "Observers") to attend meetings of the
Company's Board of Directors and committees thereof. If at least one employee of
CVC is a member of the Company's Board of Directors, CVC shall have the right to
designate one Observer to attend meetings of the Company's Board of Directors
and committees thereof. So long as the Steward Group (as hereinafter defined)
own at least 1.9% of the Common Stock outstanding, if no member or designee of
the Steward Group is a member of the Company's Board of Directors, the Steward
Group shall have the right to designate one Observer to attend meetings of the
Company's Board of Directors and committees thereof. So long as the Im'Oberstag
Group (as hereinafter defined) own at least 5% of the Common Stock outstanding,
if no member or designee of the Im' Oberstag Group is a member of the Company's
Board of Directors, the Im'Oberstag Group shall have the right to designate one
Observer to attend meetings of the Company's Board of Directors and committees
thereof. The Observers shall not have the right to vote on any matter presented
to the Board of Directors or any committee thereof. The Company shall give each
Observer written notice of each meeting of the Board of Directors and committees
thereof at the same time and in the same manner as the members of the Board of
Directors or such committee receive notice of such meetings, and the Company
shall permit each Observer to attend as an observer all meetings of its Board of
Directors and committees thereof. Each Observer shall be entitled to receive all
written materials and other information given to the directors in connection
with such meetings at the same time such materials and information are given to
the directors, and each Observer shall keep such materials and information
confidential. If the Company proposes to take any action by written consent in
lieu of a meeting of its Board of Directors or a committee thereof, the Company
shall give written notice thereof to each Observer prior to the effective date
of such consent. The Company shall provide to each Observer all written
materials and other information given to the directors in connection with such
action by written consent at the same time such materials and information are
given to the directors, and each Observer shall keep such materials and
information confidential. The Company shall pay the reasonable out-of-pocket
expenses of each Observer incurred in connection with attending such meetings.
As used herein, the "Steward Group" means the individuals designated on Schedule
VI hereto as "Steward Group" members and the "Im'Oberstag Group" means the
individuals designated on Schedule VI hereto as "Im'Oberstag Group" members.

          4.2 Financial Statements and Other Information. So long as CVC or its
Affiliates or any other Investor owns 1% or more of the outstanding Common
Stock, the Company shall deliver to CVC or such Investor:

               (a) as soon as available and in any event within 45 days after
the end of each of the first three quarters of each fiscal year of the Company,
consolidated balance sheets

                                     - 7 -

<PAGE>

of the Company and its subsidiaries as of the end of such period, and
consolidated statements of income and cash flows of the Company and its
subsidiaries for the period then ended prepared in conformity with generally
accepted accounting principles applied on a consistent basis, except as
otherwise noted therein, and subject to the absence of footnotes and to year-end
adjustments; and

               (b) as soon as available and in any event within 90 days after
the end of each fiscal year of the Company, a consolidated and consolidating
balance sheet of the Company and its subsidiaries as of the end of such year,
and consolidated and consolidating statements of income and cash flows of the
Company and its subsidiaries for the year then ended prepared in conformity with
generally accepted accounting principles applied on a consistent basis, except
as otherwise noted therein, together with an auditor's report thereon of a firm
of established national reputation.

          4.3 Regulatory Compliance Cooperation. So long as CVC or its
Affiliates beneficially own any of the Securities, before the Company redeems,
purchases or otherwise acquires, directly or indirectly, or converts or takes
any action with respect to the voting rights of, any shares of any class of its
capital stock or any securities convertible into or exchangeable for any shares
of any class of its capital stock, the Company shall give CVC thirty (30) days
prior written notice of such pending action. Upon the written request of CVC
made within thirty (30) days after its receipt of any such notice, stating that
after giving effect to such action CVC would have a Regulatory Problem (as
described below), the Company will defer taking such action for such period (not
to extend beyond ninety (90) days after CVC's receipt of the Company's original
notice) as CVC requests to permit it and its Affiliates to reduce the quantity
of Securities held by it and its Affiliates in order to avoid the Regulatory
Problem. In addition, the Company will not be a party to any merger,
consolidation, recapitalization or other transaction pursuant to which CVC would
be required to take any voting securities, or any securities convertible into
voting securities, which might reasonably be expected to cause CVC to have a
Regulatory Problem. For purposes of this paragraph, a person will be deemed to
have a "Regulatory Problem" when such person and such person's Affiliates would
own, control or have power over a greater quantity of securities of any kind
issued by the Company than are permitted to be owned under any requirement of
any governmental authority applicable to such person.

          4.4 Sale of the Company.

               (a) So long as the Company has not consummated a Public Offering
(as defined in Section 6.1(c)), if the Board of Directors and holders of at
least fifty percent (50%) of the Company's Common Stock then outstanding approve
the sale of the Company to a person (whether by merger, consolidation, sale of
all or substantially all of its assets or sale of all of the outstanding capital
stock) (an "Approved Sale"), each Investor and Permitted Transferee will consent
to, vote for, and raise no objections against, and waive dissenters and
appraisal rights (if any) with respect to, the Approved Sale, and if the
Approved Sale is structured as a sale of stock, each Investor and Permitted
Transferee will agree to sell and will be permitted to sell all of such
Investor's and Permitted Transferee's Common Stock on the terms and conditions
approved by the Board of Directors and the holders of a majority of the Common
Stock then outstanding. Each Investor and Permitted Transferee will take all
necessary and desirable actions in connection with the consummation of an
Approved Sale.

                                     - 8 -

<PAGE>

               (b) Each Investor and Permitted Transferee shall, in connection
with a sale of its Common Stock pursuant to this Section 4.4, at the request of
the Company and without further cost and expense to the Company, execute and
deliver such other instruments of conveyance and transfer and take such other
actions as may reasonably be requested in order to consummate the Approved Sale.

               (c) The obligations of each of the Investors with respect to an
Approved Sale are subject to the satisfaction of the conditions that: (i) upon
the consummation of the Approved Sale all of the Investors and Permitted
Transferees will receive the same form and amount of consideration per share of
Common Stock, or if any holder of Common Stock is given an option as to the form
and amount of consideration to be received, all Investors and Permitted
Transferees will be given the same option; and (ii) the terms of sale shall not
include any indemnification, guaranty or the similar undertaking of the Investor
(other than undertakings of Management Investors in respect of continued
employment) that (A) is not made or given pro rata with other Investors on the
basis of share ownership or (B) could result in liability to such Investor that
is in excess of the fair market value of the consideration to be received by
such Investor in the Approved Sale.

          4.5 Tag-Along.

               (a) (i) Except as otherwise provided in Section 4.5(a)(v),
neither CVC nor any Affiliate of CVC who holds in excess of 5% of the Common
Stock of the Company (each a "Seller") shall sell any Common Stock in any
transaction or series of related transactions unless all "Holders" (as
hereinafter defined) are offered an equal opportunity to participate in such
transaction or transactions on a pro-rata basis and on identical terms
(including price and type of consideration paid). As used in this Section 4.5,
"Holders" shall mean the Investors (other than the Sellers) and their Permitted
Transferees.

                    (ii) Prior to any sale of Common Stock subject to these
provisions, the Seller shall notify the Company in writing of the proposed sale.
Such notice (the "Seller's Notice") shall set forth: (A) the number of shares of
Common Stock subject to the proposed sale; (B) the name and address of the
proposed purchaser; and (C) the proposed amount of consideration and terms and
conditions of payment offered by such proposed purchaser. The Company shall
promptly, and in any event within 15 days, mail or cause to be mailed the
Seller's Notice to each Holder. A Holder may exercise the tag-along right by
delivery of a written notice (the "Tag-Along Notice") to the Seller within 15
days of the date the Company mailed or caused to be mailed the Seller's Notice.
The Tag-Along Notice shall state the number of shares of Common Stock that the
Holder proposes to include in the proposed sale. If no Tag-Along Notice is
received during the 15-day period referred to above, the Seller shall have the
right for a 120-day period to effect the proposed sale of shares of Common Stock
on terms and conditions no more favorable than those stated in the notice and in
accordance with the provisions of this Section 4.5.

                    (iii) Notwithstanding anything herein to the contrary, a
Seller may make any of the following sales without offering the Holders the
opportunity to participate: (a) sales by a Seller to any Affiliate or Permitted
Transferee, provided that the proposed purchaser (except a Permitted Transferee
by virtue of Section 3.4(b)(iv) hereof) agrees in writing

                                     - 9 -

<PAGE>

to be bound by the provisions of this Agreement; (b) sales pursuant to an
effective registration statement under the Securities Act; (c) sales pursuant to
an Approved Sale; (d) sales to the Company for resale to managers (up to a
maximum aggregate amount of 1,745 shares of Class B Common Stock and 5,511
shares of Series B Preferred Stock) or directors of the Company, provided that
the Company shall within 90 days thereafter resell such transferred shares to
managers or directors of the Company at not less than the price per share (not
including accrued and unpaid dividends) received by such Seller in its sale to
the Company and (e) sales other than those specified in the foregoing (a)
through (d) which in the aggregate do not exceed 5% of the Common Stock
outstanding.

                    (iv) Each Investor acknowledges for itself and its
transferees that CVC may grant in the future tag-along rights to other holders
of Common Stock and such holders will (a) have substantially the same
opportunity to participate in sales by CVC as provided to the parties hereto,
and (b) be included in the calculation of the pro rata basis upon which Holders
may participate in a sale.

                    (v) The tag-along obligations of the Sellers and the rights
of the Holders with respect thereto provided under this Section 4.5 shall
terminate upon the earlier of (a) the consummation of a Public Offering (as
defined in Section 6.1(c)), and (b) the day after the date on which CVC and its
Affiliates own less than 10% of the Common Stock.

                    (vi) Notwithstanding the requirements of this Section 4.5, a
Seller may sell Common Stock at any time without complying with the requirements
of Section 4.5(a)(ii) so long as the Seller deposits into escrow with an
independent third party at the time of sale that amount of the consideration
received in the sale equal to the "Escrow Amount." The "Escrow Amount" shall
equal that amount of consideration as all the Holders would have been entitled
to receive if they had the opportunity to participate in the sale on a pro rata
basis, determined as if each Holder (A) delivered a Tag-Along Notice to the
Seller in the time period set forth in Section 4.5(a)(ii) and (B) proposed to
include all of its shares of Common Stock in the sale.

          No later than five (5) business days after the date of the sale, the
Seller shall notify the Company in writing of the sale. Such notice (the "Escrow
Notice") shall set forth the information required in the Seller's Notice, and in
addition, such notice shall state the name of the escrow agent and, if the
consideration (in whole or in part) for the sale was cash, then the account
number of the escrow account. The Company shall promptly, and in any event
within 10 days, mail or cause to be mailed the Escrow Notice to each Holder.

          A Holder may exercise the tag-along right by delivery to the Seller,
within 15 days of the date the Company mailed or caused to be mailed the Escrow
Notice, of (i) a written notice specifying the number of shares of Common Stock
it proposes to sell, and (ii) the certificates for such Common Stock, with stock
powers duly endorsed in blank.

          Promptly after the expiration of the 15th day after the Company has
mailed or caused to be mailed the Escrow Notice, (A) the Seller shall purchase
that number of shares of Common Stock as Seller would have been required to
include in the sale had Seller complied with the provisions of Section
4.5(a)(ii), (B) all shares of Common Stock not required to be

                                     - 10 -

<PAGE>

purchased by Seller shall be returned to the Holders thereof, and (C) all
remaining funds and other consideration held in escrow shall be released to
Seller. If Seller received consideration other than cash in its sale, Seller
shall purchase the shares of Common Stock tendered by paying to the Holders
non-cash consideration and cash in the same proportion as received by Seller in
the sale.

                    (vii) Each Holder that exercises its tag-along rights
pursuant to this Section 4.5 shall, at the request of Seller and without further
cost and expense to Seller, execute and deliver such other instruments of
conveyance and transfer and take such other actions as may reasonably be
requested in order to consummate the proposed sale of Common Stock by Seller and
the Holders which have exercised their tag-along rights pursuant to this Section
4.5.

          4.6 Preemptive Rights.

               (a) So long as the Company has not consummated a Public Offering
(as defined in Section 6.1(c)), if the Company proposes to issue and sell any of
its shares of Common Stock or any securities containing options or rights to
acquire any shares of Common Stock or any securities convertible into shares of
Common Stock (such shares and other securities are hereinafter collectively
referred to as "Newly Issued Stock") to CVC, its "affiliates" (for purposes of
this Section 4.6, as defined in Rule 12b-2 of the rules promulgated under the
Securities Exchange Act of 1934, as amended (the "Exchange Act")) to whom CVC
has Transferred Common Stock (hereinafter, a "CVC Issuance"), the Company will
first offer to each of the other Investors who (i) holds in excess of 1% of the
Company's Common Stock and (ii) is an "accredited investor" as defined in Rule
501(a) promulgated under the Securities Act (each a "Qualified Investor") a
portion of the number or amount of such securities proposed to be sold in any
such transaction or series of related transactions equal to the product of the
percentage each such Qualified Investor holds of all shares of Common Stock then
held by the Investors and the number of shares proposed to be issued and sold by
the Company in any such transaction or series of related transactions, all for
the same price and upon the same terms and conditions as the securities that are
being offered to CVC, its affiliates and its Permitted Transferees to whom CVC
has Transferred Common Stock, in such transaction or series of transactions.

               (b) Notwithstanding the foregoing, the provisions of this Section
4.6 shall not be applicable to the issuance of shares of Common Stock (i) upon
the conversion of shares of one class of Common Stock into shares of another
class, (ii) as a dividend on the outstanding shares of Common Stock, (iii) in
any transaction in respect of a Security that is available to all holders of
such Security on a pro rata basis, (iv) in connection with grants of stock or
options to employees or directors of the Company or (v) in a public offering
pursuant to a registration statement filed with, and declared effective by, the
Securities and Exchange Commission pursuant to the Securities Act.

               (c) The Company will cause to be given to the Qualified Investors
a written notice setting forth the terms and conditions upon which the Qualified
Investors may purchase such shares or other securities (the "Preemptive
Notice"). After receiving a Preemptive Notice, the Qualified Investors must
reply, in writing, within 15 days of the date of such

                                     - 11 -

<PAGE>

Preemptive Notice that such persons agree to purchase the shares or other
securities offered pursuant to this Section 4.6 on the date of sale to CVC, its
affiliates or its Permitted Transferees to whom CVC has Transferred Common Stock
(the "Preemptive Reply"). If any Qualified Investor fails to make a Preemptive
Reply in accordance with this Section 4.6, shares or other securities offered to
such Qualified Investor in accordance with this Section 4.6 may thereafter, for
a period not exceeding six months following the expiration of such 15-day
period, be issued, sold or subjected to rights or options to CVC, its affiliates
and its Permitted Transferees to whom CVC has Transferred Common Stock at a
price not less than that at which they were offered to the Qualified Investors.
Any such shares or other securities not so issued, sold or subjected to rights
or options to CVC, its affiliates and its Permitted Transferees to whom CVC has
Transferred Common Stock during such six-month period will thereafter again be
subject to the preemptive rights provided for in this Section 4.6.

               (d) Notwithstanding the requirements of this Section 4.6, the
Company may make a CVC Issuance at any time without complying with the
requirements of Section 4.6(a) and (c) so long as the Company deposits into
escrow with an independent third party at the time of sale a portion of the
Newly Issued Stock equal to the "Preemptive Escrow Amount." The "Preemptive
Escrow Amount" shall equal that amount of Newly Issued Stock which the Qualified
Investors would have been entitled to receive if they had the opportunity to
participate in the CVC Issuance on a pro rata basis in accordance with Section
4.6(a), determined as if each Qualified Investor (A) delivered a Preemptive
Reply to the Company in the time period set forth in Section 4.6(c) and (B)
proposed to purchase all of the Newly Issued Stock to which such Qualified
Investor would have been entitled to purchase pursuant to Section 4.6(a) had the
Company given such Qualified Investor a Preemptive Notice.

          Within 10 days after the date of the CVC Issuance, the Company shall
notify the Qualified Investors in writing of the CVC Issuance. Such notice (the
"Preemptive Escrow Notice") shall set forth the terms and conditions upon which
the Qualified Investors may purchase shares of Newly Issued Stock, the pro rata
amount of Newly Issued Stock that such Qualified Investor is entitled to receive
(such amount to equal the amount of Newly Issued Stock that such Qualified
Investor would have been entitled to receive if it had the opportunity to
participate in the CVC Issuance on a pro rata basis in accordance with Section
4.6(a)) and the name of the escrow agent.

          A Qualified Investor may exercise the preemptive right by delivery to
CVC, within 30 days of the date the Company mailed or caused to be mailed the
Preemptive Escrow Notice, of a written notice specifying the number of shares of
Newly Issued Stock it proposes to purchase of the number of shares of Newly
Issued Stock such Qualified Investor is entitled to purchase (the "Preemptive
Election").

          Promptly after the expiration of the 30th day after the Company has
mailed or caused to be mailed the Preemptive Escrow Notice, (A) the Company
shall sell to each Qualified Investor that number of shares of Newly Issued
Stock that each such Qualified Investor proposed to purchase pursuant to its
Preemptive Election and (B) all remaining Newly Issued Stock held in escrow
shall be sold to CVC upon the terms and conditions set forth in the Preemptive
Escrow Notice.

                                     - 12 -

<PAGE>

          4.7 Purchaser Representative. In the event of the Company or any
Investor enters into any negotiation or transaction (including any transaction
pursuant to Section 4.4 and 4.5 of this Agreement) for which Rule 506 (or any
similar rule then in effect) promulgated under the Securities Act may be
available (including a merger, consolidation or other reorganization), each
Investor will, at the request of Company, appoint a purchaser representative (as
such term is defined in Rule 501(h) promulgated under the Securities Act)
reasonably acceptable to the Company. Each Investor will be responsible for the
fees of the purchaser representative so appointed.

          4.8 Common Stock and Series B Preferred Stock. Notwithstanding
anything to the contrary herein, unless approved in advance in writing by the
holders of two-thirds of the shares of the Series A Preferred Stock, the parties
agree that until (i) the Series A Preferred Stock owned by the Continuing
Investors or any of their Permitted Transferees is redeemed, repurchased,
retired or otherwise acquired by any party other than a Permitted Transferee of
any Continuing Investor or (ii) the Company has repurchased 100% of the Series A
Preferred Stock pursuant to Section 4.B(2)(a) of the Holdings Certificate of
Incorporation:

               (a) the Company shall not redeem, repurchase, retire or otherwise
acquire or pay any cash dividends in respect of any Common Stock or Series B
Preferred Stock; and

               (b) no Investor shall sell or exchange (including by merger and
consolidation) any shares of Common Stock or Series B Preferred Stock unless
such sale is to a Permitted Transferee; provided, however, that the foregoing
provisions shall not prohibit the Company from repurchasing shares of Common
Stock or Series B Preferred Stock from a former employee of the Company (or a
subsidiary of the Company) where such repurchase arises from the Company's
option to repurchase such shares upon termination of such employee's employment
with the Company (or subsidiary) pursuant to a written agreement between the
Company and such employee.

          4.9 Confidentiality. Each Investor shall, and shall cause his or her
affiliates and representatives to, keep confidential and not disclose to any
other person or entity or use for his or its own benefit or the benefit of any
other person or entity (i) any confidential proprietary information, technology,
know-how, trade secrets (including, without limitation, all results of research
and development), product formulas, industrial designs, franchises, inventions
or other industrial and intellectual property in his, her or their possession or
control regarding the Company and its subsidiaries or their respective
businesses and operations. The obligations of the Investors under this Section
4.9 shall not apply to information which (i) is or becomes generally available
to the public without breach of the commitment provided for in this Section; or
(ii) is required to be disclosed by law, order or regulation of a court or
tribunal or governmental authority; provided, however, that, in any such case,
the Investor subject to such requirement shall notify the Company as early as
reasonably practicable prior to disclosure to allow the Company to take
appropriate measures to preserve the confidentiality of such information at the
cost of Company.

          4.10 Repurchase Rights for the Company. The Company shall have the
right and option, upon 15 days prior written notice, exercisable at any time, to
purchase up to 1,745

                                     - 13 -

<PAGE>

shares of Class B Common Stock and 5,511 shares of Series B Preferred Stock from
CVC in order for the Company to satisfy its obligations to sell up to 1,745
shares of Common Stock and 5,511 shares of Series B Preferred Stock to various
Management Investors. Any such purchase of Class B Common Stock from CVC by the
Company shall be at a purchase price per share of $10.00. Any such purchase of
Series B Preferred Stock from CVC by the Company shall be at a purchase price
per share of $10.00 plus accrued and unpaid dividends thereon to the date of
purchase.

                                    ARTICLE V

                                CORPORATE ACTIONS

          5.1 Certificate of Incorporation and Bylaws. Each Investor has
reviewed the Certificate of Incorporation and Bylaws of the Company in the forms
attached hereto as Exhibits B-1 and B-2, respectively, and hereby approves and
ratifies the same.

          5.2 Directors and Voting Agreements.

               (a) So long as the Company has not consummated a Public Offering
(as defined in Section 6.1(c)), each Investor and Permitted Transferee agrees
that it shall take, at any time and from time to time, all action necessary
(including voting the Class A Common Stock and Preferred Stock owned by him, her
or it, calling special meetings of stockholders and executing and delivering
written consents) to ensure that the Board of Directors of the Company is
composed at all times of up to five (5) persons as follows: one individual
designated by the Continuing Investors, two (2) individuals designated by CVC;
and up to two (2) independent directors, who shall be designated by CVC (to the
extent permitted by applicable law as determined by CVC in its sole discretion),
subject to the right of the holders of a majority of the outstanding shares of
Class A Common Stock (including any shares of Class A Common Stock held by CVC)
to veto the election of any such independent director, provided, that in the
event that CVC concludes that it is unable to designate, or elects not to
designate for any reason, one or more of such independent directors or the
election of any such independent director is not approved by the holders of a
majority of the outstanding shares of Class A Common Stock, such directorship(s)
shall not be filled by the remaining members of the Company's Board of Directors
but shall remain vacant until the election of a director designated by CVC to
fill such vacancy in accordance with this Section 5.2. The initial directors
named pursuant to this Section 5.2 shall be Charles E. Corpening, Michael A.
Delaney, Rex Ogg, Richard Puricelli and Sallie F. Snyder.

               (b) Upon the affirmative vote of a majority of the shares of
Common Stock, the Board of Directors of the Company shall be increased in
accordance with such vote, with the new directorship(s) to be filled in the
manner determined by the vote of a majority of the shares of Common Stock;
provided, however, that any increase in the amount of directorships shall not
affect the rights of the Continuing Investors and CVC to designate directors
pursuant to Section 5.2(a) hereof.

          5.3 Right to Remove Certain of the Company's Directors. So long as the
Company has not consummated a Public Offering (as defined in Section 6.1(c)),
each of CVC

                                     - 14 -

<PAGE>

and the Continuing Investors, as the case may be, may request that any director
designated by it be removed (with or without cause) by written notice to the
other Investors, and, in any such event, each Investor shall promptly consent in
writing or vote or cause to be voted all shares of Class A Common Stock and
Preferred Stock now or hereafter owned or controlled by it for the removal of
such person as a director. In the event any person ceases to be a director, such
person shall also cease to be a member of any committee of the Board of
Directors of the Company.

          5.4 Right to Fill Certain Vacancies in Company's Board. So long as the
Company has not consummated a Public Offering (as defined in Section 6.1(c)), in
the event that a vacancy is created on the Company's Board of Directors at any
time by the death, disability, retirement, resignation or removal (with or
without cause) of a director designated by CVC or the Continuing Investors, as
the case may be, or if otherwise there shall exist or occur any vacancy on the
Company's Board of Directors in a directorship subject to designation by CVC or
the Continuing Investors, as the case may be, such vacancy shall not be filled
by the remaining members of the Company's Board of Directors but each Investor
hereby agrees promptly to consent in writing or vote or cause to be voted all
shares of Class A Common Stock and Preferred Stock now or hereafter owned or
controlled by it to elect that individual designated to fill such vacancy and
serve as a director, as shall be designated by CVC or the Continuing Investors,
as the case may be.

          5.5 Amendment of Certificate of Incorporation and Bylaws. So long as
the Company has not consummated a Public Offering (as defined in Section
6.1(c)), each Investor agrees that it shall not consent in writing or vote or
cause to be voted any shares of Common Stock and Preferred Stock now or
hereafter owned or controlled by it in favor of any amendment, repeal,
modification, alteration or rescission of, or the adoption of any provision in
the Company's Certificate of Incorporation or Bylaws inconsistent with this
Agreement unless CVC consents in writing to such action or votes or cause to be
voted all of the shares of Common Stock and Preferred Stock held by it in favor
of such action; provided that, so long as the Company has not consummated a
Public Offering (as defined in Section 6.1(c)), CVC shall not consent to any
amendment which would adversely affect the Continuing Investors' right to
designate a director to the Company's Board of Directors or remove, or fill any
vacancy created with respect to, any director designated by the Continuing
Investors as set forth in Sections 5.2, 5.3 and 5.4 of this Agreement.

          5.6 Termination of Voting Agreements. The voting agreements in
Sections 5.2, 5.3, 5.4 and 5.5 shall terminate ten (10) years from the date of
this Agreement or such longer period as permitted under Delaware law.

          5.7 Officers. Each Investor approves the election of the following
officers of the Company, together with such other officers as may be elected or
appointed by the Company or its Board of Directors:

                                     - 15 -

<PAGE>

Name                 Position
----                 --------
Rex A. Ogg           President and Chief Executive
                        Officer
Mark J. MacGuidwin   Senior Vice President and Chief
                        Financial Officer
David Sickles        Vice President and Secretary

                                   ARTICLE VI
                     ADDITIONAL RESTRICTIONS ON TRANSFERS OF
                     SECURITIES HELD BY MANAGEMENT INVESTORS

          6.1 Certain Definitions. The terms defined below shall have the
following meanings when used in this Article VI:

               (a) "Company" means the Company and all other entities in which
the Company from time to time owns, directly or indirectly, fifty percent (50%)
or more of the stock or assets, and their respective successors.

               (b) "Cause", when used in connection with the termination of a
Management Investor's employment with the Company (or any of its subsidiaries),
means the Management Investor's (i) act or acts of dishonesty, moral turpitude
or criminality, (ii) failure to perform such Management Investor's duties as an
employee as reasonably determined by the Board of Directors of the Company (or
any of its subsidiaries) acting in good faith after reasonable notice to such
employee by the Board of Directors of the Company (or any of its subsidiaries)
and, if so recommended by such Board of Directors, after such employee has not
cured such failure after 30 days opportunity to do so, or (iii) willful or
deliberate violations of his obligations to the Company (or any of its
subsidiaries) (whether such obligations are designated by the Board of Directors
or are set forth in an employment agreement) that result in injury to the
Company or any of its subsidiaries .

               (c) "Public Offering" means a successfully completed firm
commitment underwritten public offering pursuant to an effective registration
statement under the Securities Act (other than (i) a Special Registration
Statement (as defined in Section 6.3(a)(iii)) or (2) a registration statement
relating to a Unit Offering (as defined in Section 6.3(a)(iii))) in respect of
the offer and sale of shares of Common Stock for the account of the Company
resulting in aggregate net proceeds to the Company and any stockholder selling
shares of Common Stock in such offering of not less than $20,000,000.

               (d) "Recapitalization Date" means March 25, 1998.

               (e) "Securities" means any and all of the Shares and all other
securities of the Company (or a successor to the Company) received on account of
ownership of the Shares, including any and all securities issued in connection
with any merger, consolidation, stock dividend, stock distribution, stock split,
reverse stock split, stock combination, recapitalization, reclassification,
subdivision, conversion or similar transaction in respect thereof.

                                     - 16 -

<PAGE>

          6.2 Restrictions on Transfer. In addition to the restrictions imposed
by Section 3.4, and notwithstanding anything to the contrary contained herein,
no Management Investor shall effect a Transfer of any Securities prior to the
fifth anniversary of the Recapitalization Date other than (i) pursuant to
Section 4.4 in connection with an Approved Sale, (ii) pursuant to Section 4.5 in
connection with the exercise of "Tag-Along Rights", (iii) pursuant to Section
6.3 in connection with the Purchase Option (as hereinafter defined), (iv) with
the consent of the Company (as evidenced by a resolution duly adopted by at
least a majority of the non-employee members of the Company's Board of
Directors), (v) to the heirs, executors, administrators or personal
representatives upon the death of the Management Investor in question or upon
the incompetency or disability or such Management Investor for purposes of the
protection and management of such Management Investor's assets, (vi) in
connection with a Public Offering in which such Management Investor is permitted
to participate or (vii) pursuant to Sections 1.1 and 1.2 of the Preferred
Stockholders Agreement (as hereinafter defined) in connection with the exercise
of preferred stock tag-along rights and take-along rights. In exercising the
consent and approval provided for in clause (iv), the Company may employ its
sole discretion in evaluating the nature of the proposed transferee and the
Company may impose such conditions on Transfer as it deems appropriate in its
sole discretion, including, but not limited to, requirements that the transferee
be an employee of the Company or any of its subsidiaries and that the transferee
purchase the Management Investor's Securities as a "Management Investor" subject
to the restrictions of this Article VI. In the event any Transfer is authorized
pursuant to clause (iv) to an employee of the Company or any of its subsidiaries
as a "Management Investor," such employee shall execute an agreement, in form
and substance satisfactory to the Company, pursuant to which such employee shall
agree to be bound by the terms and conditions of this Agreement, and such other
provisions as the Company may determine, and upon such execution such employee
shall be entitled to the benefit of such provisions hereof and such other
provisions as the Company determines and are set forth in such agreement. Any
purported Transfer in violation of this Agreement shall be null and void and of
no force and effect and the purported transferees shall have no rights or
privileges in or with respect to the Company. Notwithstanding the foregoing
provisions, each Management Investor agrees that he or she will not effect a
Transfer of any Securities prior to the lapse of such period of time following
acquisition thereof as may be required to comply with applicable state
securities laws.

          For the purposes of this Agreement, "Preferred Stockholders Agreement"
means the Preferred Stockholders Agreement, dated as of even date herewith, by
and among the Investors.

          6.3 Purchase Option.

               (a) General Terms. In the event that on or prior to the fifth
anniversary of the Recapitalization Date, any Management Investor shall cease to
be employed by the Company (or any of its subsidiaries) for any reason
(including, but not limited to, death, temporary or permanent disability,
retirement at age 65 or more under the Company's (or any of its subsidiary's)
normal retirement policies, resignation or termination by the Company (or any of
its subsidiaries), with or without Cause), other than by reason of a leave of
absence approved by the Company (or any of its subsidiaries), such Management
Investor (or his heirs, executors, administrators, transferees, successors or
assigns) shall give prompt notice to the Company of

                                     - 17 -

<PAGE>

such termination (except in the case of termination by the Company (or any of
its subsidiaries) with or without Cause), and the Company, or one or more
designee(s) selected by a majority of the members of the Board of Directors,
shall have the right and option at any time within 90 days after the later of
the effective date of such termination of employment (the "Termination Date") or
the date of the Company's receipt of the aforesaid notice, to purchase from such
Management Investor, or his heirs, executors, administrators, transferees,
successors or assigns, as the case may be, any or all of the Common Stock and/or
any or all of the Preferred Stock then owned by such Management Investor at a
purchase price equal to the Option Purchase Price (as hereinafter defined). The
Company or its designee(s) shall give notice to the terminated Management
Investor (or his heirs, executors, administrators, transferees, successors or
assigns) of its intention to purchase Securities at any time not later than 90
days after the Termination Date. (The right of the Company and its designee(s)
set forth in this Section 6.3 to purchase a terminated Management Investor's
Securities is hereinafter referred to as the "Purchase Option"). As a condition
to purchasing a Management Investor's Securities pursuant to this Section 6.3,
any designee(s) selected by the Board of Directors must agree in writing to
assume the Company's obligations under Section 6.3(a)(iii). A designee's
agreement to assume such obligation will relieve the Company of its obligations
under Section 6.3(a)(iii) with regard to the particular terminated Management
Investor and such Management Investor shall thereafter have no recourse against
the Company under Section 6.3(a)(iii).

                    (i) Exercise of Purchase Option. The Purchase Option shall
be exercised by written notice to the terminated Management Investor (or his
heirs, executors, administrators, transferees, successors or assigns) signed by
an officer of the Company on behalf of the Company or by its designee(s), as the
case may be. Such notice shall set forth the number of shares of Common Stock
and Preferred Stock desired to be purchased and shall set forth a time and place
of closing which shall be no earlier than 10 days and no later than 60 days
after the date such notice is sent. At such closing, the seller shall deliver
the certificates evidencing the number of shares of Common Stock and Preferred
Stock to be purchased by the Company and/or its designee(s), accompanied by
stock powers duly endorsed in blank or duly executed instruments of transfer,
and any other documents that are necessary to transfer to the Company and/or its
designee(s) good title to such of the Securities to be transferred, free and
clear of all pledges, security interests, liens, charges, encumbrances,
equities, claims and options of whatever nature other than those imposed under
this Agreement, and concurrently with such delivery, the Company and/or its
designee(s) shall deliver to the seller the full amount of the Option Purchase
Price for such Securities in cash by certified or bank cashier's check.

                    (ii) Option Purchase Price.

                         (A) Twenty percent of the Securities acquired by the
Management Investors pursuant to this Agreement shall vest on each anniversary
of the Recapitalization Date beginning on the first anniversary and ending on
the fifth anniversary. To the extent the Securities have vested they are
sometimes referred to herein as "Vested"; to the extent the Securities have not
vested they are sometimes referred to herein as "Unvested."

                         (B) Subject to Section 6.3(a)(iv) below, if the
Management Investor shall be terminated by the Company without Cause or shall
cease to be employed by the Company by reason of death, normal retirement at age
65 or more under the

                                     - 18 -

<PAGE>

Company's normal retirement policies, or temporary or permanent disability, the
"Option Purchase Price" for the Securities to be purchased from such Management
Investor pursuant to the Purchase Option shall equal the sum of (w), (x), (y)
and (z), where:

(w) is the product of the Adjusted Cost Price for the Unvested Common Stock
being purchased and the number of Unvested Common Stock being purchased;

(x) is the product of the Repurchase Price for the Vested Common Stock being
purchased and the number of Vested Common Stock being purchased;

(y) is the product of the Adjusted Cost Price for the Unvested Preferred Stock
being purchased and the number of Unvested Preferred Stock being purchased;

(z) is the product of the Repurchase Price for the Vested Preferred being
purchased and the number of Vested Preferred Stock being purchased.

                         (C) Notwithstanding anything to the contrary contained
herein (but subject to Section 6.3(a)(iv) below), if the Management Investor
shall cease to be employed by the Company for any reason other than those set
forth in Section 6.3(a)(ii)(B) (including, but not limited to, termination for
Cause), the Option Purchase Price for each type of Security to be purchased from
the Management Investor pursuant to the Purchase Option shall be calculated
based solely upon the Adjusted Cost Price for each type of Security being
purchased (and not the Repurchase Price).

                         (D) As used herein:

                              (x) "Adjusted Cost Price" for (i) shares of Common
          Stock shall be $10 per share (including any shares of Common Stock
          which have been converted into other shares of capital stock of the
          Company, and adjusted for any stock dividend payable upon, or
          subdivision or combination of, the Common Stock), and (ii) shares of
          Preferred Stock shall be $10 per share; and

                              (y) "Repurchase Price" for (i) shares of Common
          Stock means the consolidated net worth of the Company per common share
          (adjusted to reflect the pro forma exercise in full of any dilutive
          securities, regardless of whether such securities are exercisable at
          the time or would otherwise satisfy any requirements under generally
          accepted accounting principles as they relate to the determination of
          "dilutive securities") reflected in the Company's consolidated
          financial statements as of the end of the fiscal quarter immediately
          preceding the Termination Date (as hereinafter defined); provided,
          however, that in reflecting the pro forma exercise of dilutive
          securities no amount shall be added to the consolidated net worth of
          the Company on account of the assumed exercise of dilutive securities
          that is in excess, on a per share basis, of the consolidated net worth
          per share of the Company calculated without regard to the exercise of
          any dilutive securities; and provided, further, that if any of the
          Common Stock is traded on a national securities exchange or reported
          on the National Association of Securities Dealers, Inc. Automated
          Quotation System, then the "Repurchase Price" shall equal for each
          Common Stock the closing price

                                     - 19 -

<PAGE>

          per common share on such exchange or as so reported on the Management
          Investor's Termination Date, and (ii) shares of Preferred Stock means
          $10, plus the amount of any accrued, unpaid dividends on such shares.

                    (iii) Adjustments to Option Purchase Price. If the Company
or its designee exercises the Purchase Option with respect to any or all of the
Common Stock of any Management Investor whose employment with the Company was
terminated by the Company without Cause (the "Called Shares"), and if within
twelve months after the closing pursuant to such exercise of the Purchase Option
by the Company or its designee:

          (A) the Company is merged into, consolidated with or otherwise
          combined with or acquired by another person or entity, or there is a
          liquidation of the Company, or there is a Public Offering (a
          "Subsequent Offering") of the Company's Common Stock pursuant to an
          effective registration statement under the Securities Act in which
          other Management Investors participate as selling stockholders (other
          than (1) a Special Registration Statement (as hereinafter defined) or
          (2) a registration statement relating to a Unit Offering (as
          hereinafter defined)), and

          (B) the per share consideration received by the holders of Common
          Stock in such transaction, or the per share net proceeds received by
          the Management Investors for the Company's Common Stock in the
          Subsequent Offering, as the case may be (in each case after being
          adjusted downward to reflect what the per share consideration or per
          share net offering proceeds, as the case may be, would have been had
          the Shares of such terminated Management Investor purchased by the
          Company or its designee pursuant to the Purchase Option been
          outstanding on the date of the closing of such transaction or
          Subsequent Offering) exceeds the Repurchase Price for shares of Common
          Stock used in calculating the Option Purchase Price pursuant to the
          exercise of the Purchase Option,

then such Management Investor shall be entitled to receive from the Company or
its designee an amount per share equal to such excess multiplied by the
applicable Repurchase Price Percentage (as hereinafter defined) within 30 days
after the closing of any such transaction or Subsequent Offering.

          As used herein:

          "Special Registration Statement" means (i) a registration statement on
Forms S-8 or S-4 or any similar or successor form or any other registration
statement relating to an exchange offer or an offering of securities solely to
the Company's (or any of its subsidiary's) employees or security holders or (ii)
a registration statement registering a Unit Offering; and

          "Unit Offering" shall mean a Public Offering of a combination of debt
and equity securities of the Company in which (i) not more than 10% of the gross
proceeds received from the sale of such securities is attributed to such equity
securities, and (ii) after giving effect to such offering, the Company does not
have a class of equity securities required to be registered under the Exchange
Act.

                                     - 20 -

<PAGE>

                    (iv) Sale in Public Offering. Common Stock sold in a Public
Offering will be sold free of the restrictions contained in this Article VI, but
this Article VI shall continue to apply in accordance with its terms to all
Common Stock not sold in such offering. If less than all of a Management
Investor's shares of Common Stock are sold in such an offering, for purposes of
any subsequent calculation hereunder of Option Purchase Price, the Option
Purchase Price shall equal the sum of (x), (y) and (z), where:

(x) equals (I) the product of the Adjusted Cost Price for the Common Stock being
purchased, the Adjusted Cost Price Percentage and the Adjusted Purchase Number,
plus (II) the product of the Repurchase Price for the Common Stock being
purchased, the Repurchase Price Percentage and the Adjusted Purchase Number,
less (III) the product of the Publicly-Sold Stock (as hereinafter defined) and
the Repurchase Price for the Common Stock being purchased;

(y) is the product of the Adjusted Cost Price for the Unvested Preferred Stock
being purchased and the number of Unvested Preferred Stock being purchased; and

(z) is the product of the Repurchase Price for the Vested Preferred being
purchased and the number of Vested Preferred Stock being purchased. For purposes
of this Agreement:

                         (A) "Publicly-Sold Stock" means the total number of
shares of Common Stock previously sold by the respective Management Investor in
a public offering;

                         (B) "Purchase Number" means the number of shares of
Common Stock to be purchased from the Management Investor;

                         (C) "Adjusted Purchase Number" means the sum of the
Purchase Number and the Publicly-Sold Stock;

                         (D) "Repurchase Price Percentage" means 20% multiplied
by the number of full years elapsed since the Recapitalization Date; and

                         (E) "Adjusted Cost Price Percentage" means 100% minus
the Repurchase Price Percentage.

Notwithstanding the foregoing, the Option Purchase Price for any portion of
Common Stock at all times shall equal or exceed the product of the Adjusted Cost
Price and the Purchase Number.

               (b) Company's Right of First Refusal. In the event that, on or
prior to the fifth anniversary of the Recapitalization Date, (i) a Management
Investor is no longer employed by the Company; (ii) the Company or its designee
has declined to exercise the Purchase Option with respect to any of such
Management Investor's Common Stock and Preferred Stock; and (iii) the Management
Investor thereafter proposes to sell any or all of such Common Stock and
Preferred Stock to a third party in a bona fide transaction, the Management
Investor may not Transfer such Securities without first offering to sell such
Securities to the Company pursuant to this Section 6.3(b).

                                     - 21 -

<PAGE>

          The Management Investor shall deliver a written notice (a "Sale
Notice") to the Company describing in reasonable detail the Securities being
offered, the name of the offeree, the purchase price requested and all other
material terms of the proposed Transfer. Upon receipt of the Sale Notice, the
Company, or a designee selected by a majority of the non-employee members of the
Board of Directors of the Company, shall have the right and option to purchase
all or any portion of the Securities being offered at the price and on the terms
of the proposed Transfer set forth in the Sale Notice. Within 30 days after
receipt of the Sale Notice, the Company shall notify such Management Investor
whether or not it wishes to purchase any or all of the offered Securities.

          If the Company elects to purchase any of the offered Securities, the
closing of the purchase and sale of such Securities shall be held at the place
and on the date established by the Company in its notice to the Management
Investor in response to the Sale Notice, which in no event shall be less than 10
or more than 60 days from the date of such notice. In the event that the Company
does not elect to purchase all the offered Securities, the Management Investor
may, subject to the other provisions of this Agreement, Transfer the remaining
offered Securities to the offeree specified in the Sale Notice at a price no
less than the price specified in the Sale Notice and on other terms no more
favorable to the transferee(s) thereof than specified in the Sale Notice during
the 180-day period immediately following the last date on which the Company
could have elected to purchase the offered Securities. Any such Securities not
transferred within such 180-day period will be subject to the provisions of this
Section 6.3(b) upon subsequent Transfer.

          6.4 Involuntary Transfers. In the event that the Securities owned by
any Management Investor shall be subject to sale or other Transfer (the date of
such sale or transfer shall hereinafter be referred to as the "Transfer Date")
on or prior to the fifth anniversary of the Recapitalization Date by reason of
(i) bankruptcy or insolvency proceedings, whether voluntary or involuntary, or
(ii) distraint, levy, execution or other involuntary Transfer, then such
Management Investor shall give the Company written notice thereof promptly upon
the occurrence of such event stating the terms of such proposed Transfer, the
identity of the proposed transferee, the price or other consideration, if
readily determinable, for which the Securities are proposed to be transferred,
and the number of shares of Common Stock and Preferred Stock to be transferred.
After its receipt of such notice or, failing such receipt, after the Company
otherwise obtains actual knowledge of such a proposed Transfer, the Company, or
a designee selected by a majority of the non-employee members of the Board of
Directors of the Company, shall have the right and option to purchase all, but
not less than all of such Securities which right shall be exercised by written
notice given by the Company to such proposed transferor within 60 days following
the Company's receipt of such notice or, failing such receipt, the Company's
obtaining actual knowledge of such proposed Transfer. Any purchase pursuant to
this Section 6.4 shall be at the price and on the terms applicable to such
proposed Transfer. If the nature of the event giving rise to such involuntary
Transfer is such that no readily determinable consideration is to be paid for
the Transfer of the Securities, the price to be paid by the Company shall be the
Option Purchase Price that would have been applicable hereunder had the
Management Investor incurred a Termination Date as of the date of such proposed
Transfer for the Securities. The closing of the purchase and sale of Securities
shall be held at the place and the date to be established by the Company, which
in no event shall be less than 10 or more than 60 days from the date on which
the Company gives notice of its election to purchase the

                                     - 22 -

<PAGE>

Securities. At such closing, the Management Investor shall deliver the
certificates evidencing the number of shares of Common Stock and Preferred Stock
to be purchased by the Company, accompanied by stock powers duly endorsed in
blank or duly executed instruments of transfer, and any other documents that are
necessary to transfer to the Company good title to such of the securities to be
transferred, free and clear of all pledges, security interests, liens, charges,
encumbrances, equities, claims and options of whatever nature other than those
imposed under this Agreement, and concurrently with such delivery, the Company
shall deliver to the Management Investor the full amount of the purchase price
for such Securities in cash by certified or bank cashier's check.

          6.5 Proceeds Upon Sale of the Company.

          Each Management Investor agrees, subject solely to the condition set
forth in the last sentence of this Section 6.5, that a portion of the proceeds
of any sale of Common Stock pursuant to Article IV equal to (x) multiplied by
(y) (such portion being the "Escrow Amount"), where (x) equals (i) the aggregate
of the total amount of such proceeds and all proceeds received by such
Management Investor upon sales of Common Stock pursuant to Article IV less (ii)
the Adjusted Cost Price for shares of Common Stock multiplied by all Common
Stock owned by such Management Investor, and (y) equals the then applicable
Adjusted Cost Price Percentage, shall not be paid to such Management Investor
and shall instead be deposited into a trust for the exclusive benefit of the
Management Investors, unless and until there is an event of forfeiture related
to such Management Investor (as hereinafter defined), in which case the funds
subject to such forfeiture shall be paid to the Company. For purposes of this
Agreement, such trust shall be established in accordance with such agreements
and instruments as shall be reasonably required by the Board of Directors of the
Company and shall permit the trustee thereunder to invest the funds of such
trust in such manner, consistent with such trustee's fiduciary obligations, as
such trustee shall reasonably determine. The trust agreement shall provide that
the assets of the trust shall not be subject to the claims of the Company or any
successor to the Company. Upon the occurrence of each date on which a subsequent
adjustment of the Adjusted Cost Price Percentage would have occurred, the
trustee shall distribute to each Management Investor the amount which thereupon
becomes distributable based on such reduced percentage; provided, however, that
in the event that the employment of the Management Investor is terminated by the
Company (or any of its subsidiaries) or any of their respective successors
without Cause or by reason of death, disability or retirement at age 65 or more
under the Company's (or any of its subsidiary's) normal retirement policies, the
trustee shall promptly pay all remaining funds held for the account of such
Management Investor, together with interest accrued thereon, to such Management
Investor, or to his heirs, administrators, or estate. In the event that the
Management Investor shall cease to be employed by the Company (or any of its
subsidiaries) or any of their respective successors or a subsidiary thereof
(other than by reason of an approved leave of absence) for any reason other than
death, disability or retirement at age 65 or more under the Company's normal
retirement policies or termination by the Company or a subsidiary thereof
without Cause, all interest of the Management Investor in such funds shall
immediately terminate. A Management Investor shall not be bound by the
provisions of this Section 6.5 unless the purchaser or purchasers agree in
writing to continue such Management Investor's employment through the period
ending on the fifth anniversary of the Recapitalization Date (or, if earlier, on
the date which is eighteen months after the closing of such sale) on terms and

                                     - 23 -

<PAGE>

conditions at least as favorable, in the aggregate, to the Management Investor
as the terms and conditions of his employment prior to the sale.

          6.6 Non-Compete.

               (a) In consideration of the opportunity to participate in the
equity offering of the Company, each Management Investor covenants and agrees
that, for one (1) year after termination of such Management Investor's
employment with the Company or any its subsidiaries, neither Management Investor
nor any of its affiliates shall engage, directly or indirectly, in lines of
business similar to the business of the Company (or any of its subsidiaries)
anywhere in the world. Each Management Investor and the Company agrees that the
foregoing covenant is intended to prohibit each Management Investor from
engaging in such activities, as the case may be, as owner, creditor (except as a
trade creditor in the ordinary course of business), partner, stockholder,
lender, officer, director, manager, employee, contractor or agent for any
person, firm or corporation (except (i) with respect to the Company (or any of
its subsidiaries ) or (ii) as a holder of equity or debt securities in a
corporation which has a class of whose securities that are publicly traded on a
stock exchange or the recognized over-the-counter market, and then only to the
extent of owning not more than two percent (2%) of the issued and outstanding
debt or equity securities of such corporation).

               (b) Each Management Investor acknowledges and agrees that the
remedy at law for any breach, or threatened breach, of any of the provisions of
this Section 6.6 will be inadequate and, accordingly, each Management Investor
covenants and agrees that the Company shall, in addition to any other rights and
remedies which the Company may have, be entitled to equitable relief, including
injunctive relief, and to the remedy of specific performance with respect to any
breach or threatened breach of such covenant, as may be available from any court
of competent jurisdiction. Such right to obtain equitable relief may be
exercised, at the option of the Company, concurrently with, prior to, after, or
in lieu of, the exercise of any other rights or remedies which the Company may
have as a result of any such breach or threatened breach.

               (c) In the event that the provisions of this Section 6.6 shall be
determined by a court of competent jurisdiction to be unenforceable under
applicable law as to that jurisdiction (the parties agreeing that such decision
shall not be binding, res judicata or collateral estoppel in any other
jurisdiction) for any reason whatsoever, then any such provision or provisions
shall not be deemed void, but the parties hereto agree that said limits may be
modified by the court and that said covenant contained in this Section 6.6 shall
be amended in accordance with said modifications, it being specifically agreed
by each Management Investor and the Company that it is their continuing desire
that this covenant be enforced to the full extent of its terms and conditions or
if a court finds the scope of the covenant unenforceable, the court should
redefine the covenant so as to comply with applicable law.

                                     - 24 -

<PAGE>

                                   ARTICLE VII

                               REGISTRATION RIGHTS

          The holders of Common Stock shall have registration rights with
respect to the Common Stock as set forth in the Registration Rights Agreement,
dated the date hereof, by and among the Company, CVC and other parties listed
thereto attached hereto as Exhibit C (the "Registration Rights Agreement"). Each
of the holder of Common Stock agrees not to effect any public sale or
distribution of any securities of the Company during the periods specified in
the Registration Rights Agreement, except as permitted by the Registration
Rights Agreement, and each such holder agrees to be bound by the rights of
priority to participate in offerings as set forth therein.

                                  ARTICLE VIII

                                  MISCELLANEOUS

          8.1 Amendment and Modification. This Agreement may be amended or
modified, or any provision hereof may be waived, provided that such amendment or
waiver is set forth in a writing executed by (i) the Company, (ii) CVC (so long
as CVC and its Affiliates own in the aggregate at least 25% of the outstanding
Common Stock on a fully diluted basis) and (iii) the holders of a majority of
the outstanding Common Stock on a fully diluted basis (including Shares owned by
CVC and its Affiliates); provided, however, that the provisions of Sections 3.4,
4.2, 4.4, 4.5, 4.6, 4.7, 4.8, 5.2, 5.3, 5.4, 5.5, 5.6 and Article VIII cannot be
amended, modified or waived in a way that adversely affects the rights of the
Continuing Investors unless the holders of a majority of the Common Stock then
owned by the Continuing Investors also executes such amendment, modification or
waiver; provided, further, that Sections 3.4, 4.4, 4.5, 4.6, 4.7 and 4.8 and
Article VII may be amended, modified or waived pursuant to a writing executed in
accordance with clauses (i), (ii) and (iii) of this Section in order to allow
for additional shareholders of the Company to be bound by the provisions
thereof. No course of dealing between or among any persons having any interest
in this Agreement will be deemed effective to modify, amend or discharge any
part of this Agreement or any rights or obligations of any person under or by
reason of this Agreement.

          8.2 Survival of Representations and Warranties. All representations,
warranties, covenants and agreements set forth in this Agreement will survive
the execution and delivery of this Agreement and the date hereof and the
consummation of the transactions contemplated hereby, regardless of any
investigation made by an Investor or on its behalf.

          8.3 Successors and Assigns; Entire Agreement. This Agreement and all
of the provisions hereof shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and permitted assigns and
executors, administrators and heirs. This Agreement sets forth the entire
agreement and understanding among the parties as to the subject matter hereof
and merges and supersedes all prior discussions and understandings of any and
every nature among them.

                                     - 25 -

<PAGE>

          8.4 Separability. In the event that any provision of this Agreement or
the application of any provision hereof is declared to be illegal, invalid or
otherwise unenforceable by a court of competent jurisdiction, the remainder of
this Agreement shall not be affected except to the extent necessary to delete
such illegal, invalid or unenforceable provision unless that provision held
invalid shall substantially impair the benefits of the remaining portions of
this Agreement.

          8.5 Notices. All notices provided for or permitted hereunder shall be
made in writing by hand-delivery, registered or certified first-class mail,
telex, telecopier or air courier guaranteeing overnight delivery to the other
party at the following addresses (or at such other address as shall be given in
writing by any party to the others):

          If to the Company to:

          FabriSteel Holdings, Inc.
          22100 Trolley Industrial Drive
          Taylor, Michigan 48180-1872
          Attention: President

          with required copies to:

          Dechert Price & Rhoads
          4000 Bell Atlantic Tower
          1717 Arch Street
          Philadelphia, PA  19103
          Attention: Craig L. Godshall, Esq.

          If to CVC, to:

          Citicorp Venture Capital, Ltd.
          399 Park Avenue, 14th Floor
          New York, New York 10043
          Attention: Charles Corpening

          with a required copy to:

          Dechert Price & Rhoads
          4000 Bell Atlantic Tower
          1717 Arch Street
          Philadelphia, PA 19103
          Attention: Craig L. Godshall, Esq.

                                     - 26 -

<PAGE>

          If to the Steward Group to:

          Jerry H. Steward
          5104 Woodlands Lane
          Bloomfield Hills, MI 48302-2869

          with a required copy to:

          Miller, Canfield, Paddock and Stone, P.L.C.
          150 Jefferson, Suite 2500
          Detroit, Michigan 48226
          Attention: David D. Joswick, Esq.
          Telecopy: 313-496-8451

          If to the Im'Oberstag Group to:

          Sallie F. Snyder
          5137 Woodview Court
          Dearborn, MI 48126

          with a required copy to:

          Miller, Canfield, Paddock and Stone, P.L.C.
          150 Jefferson, Suite 2500
          Detroit, Michigan 48226
          Attention: David D. Joswick, Esq.
          Telecopy: 313-496-8451

          If to the Management Investors, the Continuing Investors, or any of
them, or any other Investors, to their addresses as listed in the books of the
Company.

          All such notices shall be deemed to have been duly given: when
delivered by hand, if personally delivered; five business days after being
deposited in the mail, postage prepaid, if mailed; when answered back, if
telexed; when receipt acknowledged, if telecopied; and on the next business day,
if timely delivered to an air courier guaranteeing overnight delivery.

          8.6 Governing Law. The validity, performance, construction and effect
of this Agreement shall be governed by and construed in accordance with the
internal law of Delaware, without giving effect to principles of conflicts of
law.

          8.7 Headings. The headings in this Agreement are for convenience of
reference only and shall not constitute a part of this Agreement, nor shall they
affect their meaning, construction or effect.

                                     - 27 -

<PAGE>

          8.8 Counterparts. This Agreement may be executed in two or more
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original, and all of which taken
together shall constitute one and the same instrument.

          8.9 Further Assurances. Each party shall cooperate and take such
action as may be reasonably requested by another party in order to carry out the
provisions and purposes of this Agreement and the transactions contemplated
hereby.

          8.10 Termination. Unless sooner terminated in accordance with its
terms, this Agreement shall terminate on the fifteenth anniversary of the
Closing Date.

          8.11 Remedies. In the event of a breach or a threatened breach by any
party to this Agreement of its obligations under this Agreement, any party
injured or to be injured by such breach, in addition to being entitled to
exercise all rights granted by law, including recovery of damages, will be
entitled to specific performance of its rights under this Agreement. The parties
agree that the provisions of this Agreement shall be specifically enforceable,
it being agreed by the parties that the remedy at law, including monetary
damages, for breach of such provision will be inadequate compensation for any
loss and that any defense in any action for specific performance that a remedy
at law would be adequate is waived.

          8.12 Party No Longer Owning Securities. If a party hereto ceases to
own any Securities, such party will no longer be deemed to be an Investor or
Management Investor for purposes of this Agreement, except that such party will
continue to be obligated to reacquire Securities Transferred to a Permitted
Transferee as required by Section 3.4(a) and will be deemed to be an Investor
and/or a Management Investor at such time as such party reacquires such
Securities.

          8.13 No Effect on Employment. Nothing herein contained shall confer on
any Management Investor the right to remain in the employ of the Company or any
of its subsidiaries or Affiliates.

          8.14 Pronouns. Whenever the context may require, any pronouns used
herein shall be deemed also to include the corresponding neuter, masculine or
feminine forms.

          8.15 Signatures. While there are signature pages attached to this
Agreement, this Agreement shall be binding upon each Investor whether or not any
such Investor has executed this Agreement.

                                     - 28 -

<PAGE>

          IN WITNESS WHEREOF, the parties hereto have executed this Securities
Purchase and Holders Agreement the day and year first above written.

                                        FABRISTEEL HOLDINGS, INC.

                                        By: /s/ Rex A. Ogg
                                            ------------------------------------
                                            Rex A. Ogg

                                        Its: President

                                        CITICORP VENTURE CAPITAL LTD.

                                        By: /s/ Charles E. Corpening
                                            ------------------------------------

                                        Its: Vice President

                                        MANAGEMENT INVESTORS:

                                        /s/ Rex A. Ogg
                                        ----------------------------------------
                                        Rex A. Ogg
                                        9255 Fellows Creek Drive
                                        Plymouth, MI  48170
                                        Social Security Number: ###-##-####

                                        /s/ Mark J. MacGuidwin
                                        ----------------------------------------
                                        Mark J. MacGuidwin
                                        385 Yarmouth Road
                                        Bloomfield Hills, MI 48301
                                        Social Security Number: ###-##-####

                                        /s/ James B. Ross
                                        ----------------------------------------
                                        James B. Ross
                                        3316 Summit Ridge Drive
                                        Rochester Hills, MI 48306
                                        Social Security Number: ###-##-####

                                        /s/ David W. Sickels
                                        ----------------------------------------
                                        David W. Sickels
                                        46069 Green Valley
                                        Plymouth, MI 48170

                                     - 29 -

<PAGE>

                                        Social Security Number: ###-##-####

                                        /s/ John J. Vrana
                                        ----------------------------------------
                                        John J. Vrana
                                        540 Essex Drive
                                        Rochester Hills, MI 48307
                                        Social Security Number: ###-##-####

                                        /s/ Richard Puricelli
                                        ----------------------------------------
                                        Richard Puricelli
                                        2750 Indian Mound Road South
                                        Bloomfield Hills, MI 48301
                                        Social Security Number: ###-##-####

                                        CONTINUING INVESTORS:

                                        Jerry H. Steward Children's Trust
                                        #1 UTA DTD  12-16-76
                                        FBO Elizabeth H. Steward
                                        (EIN #38-636-4786)

                                        ----------------------------------------
                                        Key Trust Company, Co-Trustee

                                        ----------------------------------------
                                        Frank J. Dale, Co-Trustee

                                        Jerry H. Steward Children's Trust
                                        #5 UTA DTD 12-16-76
                                        FBO Eileen H. Steward (EIN #38-636-4774)

                                        ----------------------------------------
                                        Key Trust Company, Co-Trustee

                                        ----------------------------------------
                                        Frank J. Dale, Co-Trustee

                                     - 30 -

<PAGE>

                                        Jerry H. Steward Children's Trust UTA
                                        #4 DTD 12-16-76
                                        FBO Ellen H. Steward (EIN #38-636-4789)

                                        ----------------------------------------
                                        Key Trust Company, Co-Trustee

                                        ----------------------------------------
                                        Frank J. Dale, Co-Trustee

                                        Jerry H. Steward Children's Trust
                                        #3 UTA DTD 12-16-76
                                        FBO Jason H. Steward (EIN # 38-636-4791)

                                        ----------------------------------------
                                        Key Trust Company, Co-Trustee

                                        ----------------------------------------
                                        Frank J. Dale, Co-Trustee

                                        Jerry H. Steward Children's Trust
                                        #2 UTA DTD 12-16-76
                                        FBO Jeffery H. Steward
                                        (EIN #38-636-4788)

                                        ----------------------------------------
                                        Key Trust Company, Co-Trustee

                                        ----------------------------------------
                                        Frank J. Dale, Co-Trustee

                                        Douglas A. Steward Revocable Living
                                        Trust Dated May 21, 1990, as Amended

                                        /s/ Douglas A. Steward
                                        ----------------------------------------
                                        Douglas A. Steward, Co-Trustee
                                        SS# ###-##-####

                                        ----------------------------------------
                                        Roxanne Steward, Co-Trustee

                                     - 31 -

<PAGE>

                                        John H. Steward, II Revocable Living
                                        Trust, dated June 5, 1990

                                        /s/ John H. Steward, II
                                        ----------------------------------------
                                        John H. Steward, II, Trustee
                                        SS# ###-##-####

                                        Jeffery H. Steward Revocable Living
                                        Trust dated May 16, 1991, as Amended

                                        /s/ Jeffery H. Steward
                                        ----------------------------------------
                                        Jeffery H. Steward, Co-Trustee
                                        SS# ###-##-####

                                        /s/ Lisa G. Steward
                                        ----------------------------------------
                                        Lisa G. Steward, Co-Trustee

                                        Jerry H. Steward Irrevocable Stock Trust
                                        #5 FBO Eileen H. Steward-Llewellyn,
                                        dated May 15, 1990 (EIN #38-657-5883)

                                        ----------------------------------------
                                        Key Trust Company, Co-Trustee

                                        ----------------------------------------
                                        Frank J. Dale, Co-Trustee

                                        Jerry H. Steward Irrevocable Stock Trust
                                        #4 FBO Ellen H. Steward, dated May 15,
                                        1990 (EIN #38-657-5881)

                                        ----------------------------------------
                                        Key Trust Company, Co-Trustee

                                        ----------------------------------------
                                        Frank J. Dale, Co-Trustee

                                     - 32 -

<PAGE>

                                        Jerry H. Steward Irrevocable Stock Trust
                                        #3 FBO Jason H. Steward, dated May 15,
                                        1990 (EIN #38-657-5880)

                                        ----------------------------------------
                                        Key Trust Company, Co-Trustee

                                        ----------------------------------------
                                        Frank J. Dale, Co-Trustee

                                        Jerry H. Steward Irrevocable Stock Trust
                                        #2 FBO Elizabeth H. Garner, dated May
                                        15, 1990 (EIN #38-657-5879)

                                        ----------------------------------------
                                        Key Trust Company, Co-Trustee

                                        ----------------------------------------
                                        Frank J. Dale, Co-Trustee

                                        /s/ Margaret Ann Campbell
                                        ----------------------------------------
                                        Margaret Ann Campbell
                                        SS# ###-##-####

                                        Sallie E. Snyder Living Trust Agreement,
                                        dated October 4, 1989

                                        /s/ Sallie E. Snyder
                                        ----------------------------------------
                                        Sallie E. Snyder, Trustee
                                        SS# ###-##-####

                                     - 33 -

<PAGE>

                                        /s/ Frances A. I. Knoop
                                        ----------------------------------------
                                        Frances A. I. Knoop
                                        SS# ###-##-####

                                        Mary E. Biddinger Living Trust Agreement
                                        dated February 23, 1991

                                        /s/ Mary E. Biddinger
                                        ----------------------------------------
                                        Mary E. Biddinger, Trustee
                                        SS# ###-##-####

                                        Katharine I. Campbell Living Trust
                                        dated June 29, 1993 (EIN# 38-6708973)

                                        /s/ Robert M. Campbell
                                        ----------------------------------------
                                        Robert M. Campbell, Co-Trustee

                                        /s/ William Bradley
                                        ----------------------------------------
                                        Comerica Bank, Co-Trustee

                                        Margaret H. Steward Living Trust, dated
                                        December 14, 1966, and any amendments
                                        thereto

                                        /s/ Margaret H. Steward
                                        ----------------------------------------
                                        Margaret H. Steward, sole Trustee
                                        SS# ###-##-####

                                        Jerry H. Steward Living Trust, dated
                                        December 14, 1966, and any amendments
                                        thereto

                                        /s/ Jerry H. Steward
                                        ----------------------------------------
                                        Jerry H. Steward, sole Trustee
                                        SS# ###-##-####

                                     - 34 -

<PAGE>

                                        OTHER INVESTORS

                                        CCT PARTNERS, V, LP

                                        By: /s/ Thomas H. Sanders
                                            ------------------------------------
                                            Name: Thomas H. Sanders
                                            Title: Secretary, CCT 1998
                                            Corporation, GP of CCT Partners V,
                                            L.P.

                                        63 BR PARTNERSHIP

                                        By: /s/ James A. Urry
                                            ------------------------------------
                                            Name: James A. Urry
                                            Title: Attorney-In-Fact

                                        /s/ Michael A. Delaney
                                        ----------------------------------------
                                        Michael A. Delaney

                                        /s/ Charles E. Corpening
                                        ----------------------------------------
                                        Charles E. Corpening

                                        /s/ David F. Thomas
                                        ----------------------------------------
                                        David F. Thomas

                                        /s/ Richard M. Cashin
                                        ----------------------------------------
                                        Richard M. Cashin

                                     - 35 -

<PAGE>

                                        ALCHEMY L.P.

                                        By: /s/ [illegible]
                                            ------------------------------------
                                            Name: [illegible]
                                            Title: General Partner

                                        Thomas F. McWilliams Flint Trust dated
                                        October 27, 1998

                                        /s/ Jeanne Blastberg
                                        ----------------------------------------
                                        Jeanne Blastberg, Trustee

                                        /s/ James Urry
                                        ----------------------------------------
                                        James Urry

                                        /s/ Byron Knief
                                        ----------------------------------------
                                        Byron Knief

                                        /s/ Joseph M. Sivestri
                                        ----------------------------------------
                                        Joseph M. Silvestri

                                        /s/ John Weber
                                        ----------------------------------------
                                        John Weber

                                        /s/ M. Saleem Muqaddam
                                        ----------------------------------------
                                        M. Saleem Muqaddam

                                        /s/ Richard E. Mayberry
                                        ----------------------------------------
                                        Richard E. Mayberry

                                     - 36 -

<PAGE>

                                        BG PARTNER LLP

                                        By: /s/ Paul C. Schorr IV
                                            ------------------------------------
                                            Name: Paul C. Schorr IV
                                            Title: Authorized Signatory and
                                                  General Partner

                                        /s/ Ian D. Highet
                                        ----------------------------------------
                                        Ian D. Highet

                                     - 37 -

<PAGE>

                                   Schedule I

                              Continuing Investors

Key Trust Company and Frank J. Dale, Co-Trustees of the
Jerry H. Steward Childen's Trust
UTA DTD 12-16-76 FBO Elizabeth H. Steward

Key Trust Company and Frank J. Dale, Co-Trustees of the
Jerry H. Steward Childen's Trust
UTA DTD 12-16-76 FBO Eileen H. Steward

Key Trust Company and Frank J. Dale, Co-Trustees of the
Jerry H. Steward Childen's Trust
UTA DTD 12-16-76 FBO Ellen H. Steward

Key Trust Company and Frank J. Dale, Co-Trustees of the
Jerry H. Steward Childen's Trust
UTA DTD 12-16-76 FBO Jason H. Steward

Key Trust Company and Frank J. Dale, Co-Trustees of the
Jerry H. Steward Childen's Trust
UTA DTD 12-16-76 FBO Jeffery H. Steward

Douglas A. Steward, Co-Trustee of the
Douglas A. Steward Revocable Living Trust
Dated May 21, 1990, as Amended

John H. Steward, II, Trustee of the
John H. Steward, II Revocable Living Trust
Dated June 5, 1990

Jeffery H. Steward, Co-Trustee of the
Jeffery H. Steward Revocable Living trust
dated May 16, 1991, as Amended

Key Trust Company and Frank J. Dale, Co-Trustees of the
Jerry H. Steward Irrevocable Stock Trust
FBO Eileen H. Steward-Llewellyn,
dated May 15, 1990

Key Trust Company and Frank J. Dale, Co-Trustees of the
Jerry H. Steward Irrevocable Stock Trust
FBO Ellen H. Steward, dated May 15, 1990

Key Trust Company and Frank J. Dale, Co-Trustees of the
Jerry H. Steward Irrevocable Stock Trust
FBO Jason H. Steward, dated May 15, 1990

                                     - 38 -

<PAGE>

Key Trust Company and Frank J. Dale, Co-Trustees of the
Jerry H. Steward Irrevocable Stock Trust
FBO Elizabeth H. Garner dated May 15, 1990

Margaret Ann Campbell

Sallie E. Snyder, Trustee of the
Sallie E. Snyder Living Trust Agreement,
dated October 4, 1989

Frances A. I. Knoop

Mary E. Biddinger, Trustee of the
Mary E. Biddinger Living Trust Agreement
dated February 23, 1991

Robert M. Campbell and Comerica Bank,
Co-Trustees of the Katharine I. Campbell
Living Trust dated June 29, 1993

Margaret H. Steward, Sole Trustee of the
Margaret H. Steward Living Trust, dated
December 14, 1966, and any amendments thereto

Jerry H. Steward, Sole Trustee of the
Jerry H. Steward Living Trust, dated
December 14, 1966, and any amendments thereto

                                     - 39 -

<PAGE>

                                   Schedule II

                              Management Investors

Rex A. Ogg
Mark MacGuidwin
James B. Ross
David W. Sickels
John J. Vrana
Richard Puricelli

                                     - 40 -

<PAGE>

                                  Schedule III

                                 Other Investors

CCT Partners V, LP
Michael A. Delaney
Charles E. Corpening
63 BR Partnership
David F. Thomas
Richard M. Cashin
Alchemy L.P.
Jeanne Blastberg, Trustee of the Thomas F.
  McWilliams Flint Trust dated 10/27/98
James Urry
Byron Knief
Joseph M. Silvestri
John Weber
M. Saleem Muqaddam
Richard E. Mayberry
BG Partner LLP
Ian D. Highet

                                     - 41 -

<PAGE>

                                   Schedule IV

                            [Intentionally omitted.]

                                     - 42 -

<PAGE>

                                   Schedule V
                                     Shares

                    FABRI-STEEL HOLDINGS, INC. CAPITALIZATION

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
                            Class A    Class B     Series A    Series B     Series C    Series D    Series E    Series F
                            Common      Common     Preferred   Preferred   Preferred   Preferred   Preferred   Preferred
       Shareholder           Stock      Stock        Stock       Stock       Stock       Stock       Stock       Stock
------------------------------------------------------------------------------------------------------------------------
<S>                          <C>      <C>          <C>          <C>         <C>        <C>         <C>         <C>
Citicorp Venture Capital,
   Ltd.                      33,203   *1,584,576                467,513     369,957
------------------------------------------------------------------------------------------------------------------------
CCT Partners V, LP            5,859       14,617                 81,548      65,287
------------------------------------------------------------------------------------------------------------------------
Michael A. Delaney              845        2,107                 11,759       9,412
------------------------------------------------------------------------------------------------------------------------
Charles E. Corpening            552        1,377                  7,689       6,150
------------------------------------------------------------------------------------------------------------------------
63 BR Partnership               476        1,188                  6,619       5,307
------------------------------------------------------------------------------------------------------------------------
David F. Thomas                 476        1,188                  6,619       5,307
------------------------------------------------------------------------------------------------------------------------
Richard M. Cashin               476        1,188                  6,619       5,307
------------------------------------------------------------------------------------------------------------------------
Alchemy L.P.                    476        1,188
------------------------------------------------------------------------------------------------------------------------
Jeanne Blastberg, Trustee
of the Thomas F.
McWilliams Flint Trust
dated 10/27/98                                                    6,619       5,307
------------------------------------------------------------------------------------------------------------------------
James Urry                      325          811                  4,523       3,621
------------------------------------------------------------------------------------------------------------------------
Byron Knief                     163          405                  2,261       1,811
------------------------------------------------------------------------------------------------------------------------
Joseph M. Silvestri             163          405                  2,261       1,811
------------------------------------------------------------------------------------------------------------------------
John Weber                      163          405                  2,261       1,811
------------------------------------------------------------------------------------------------------------------------
M. Saleem Muqaddam               65          161                    905         719
------------------------------------------------------------------------------------------------------------------------
Richard E. Mayberry              65          161                    905         719
------------------------------------------------------------------------------------------------------------------------
BG Partner LLP                   65          161                    905         719
------------------------------------------------------------------------------------------------------------------------
Ian D. Highet                    33           80                    452         359
------------------------------------------------------------------------------------------------------------------------
Rex A. Ogg                    7,800                              11,860       7,419
------------------------------------------------------------------------------------------------------------------------
Mark J. MacGuidwin            2,600                               3,948       2,478
------------------------------------------------------------------------------------------------------------------------
James B. Ross                   250                                 790
------------------------------------------------------------------------------------------------------------------------
</TABLE>

----------
*    641,202 Shares are deposited in escrow for resale to other shareholders
     pursuant to the Preemptive Rights Escrow Agreement dated March 17, 2000, by
     and among the Company, Citicorp Venture Capital, Ltd. and the Escrow Agent
     named therein.

                                     - 43 -

<PAGE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
                            Class A    Class B     Series A    Series B     Series C    Series D    Series E    Series F
                            Common      Common     Preferred   Preferred   Preferred   Preferred   Preferred   Preferred
       Shareholder           Stock      Stock        Stock       Stock       Stock       Stock       Stock       Stock
------------------------------------------------------------------------------------------------------------------------
<S>                           <C>      <C>           <C>         <C>       <C>         <C>         <C>         <C>
David W. Sickels                250                                 790
------------------------------------------------------------------------------------------------------------------------
John J. Vrana                   250                                 790
------------------------------------------------------------------------------------------------------------------------
Richard Puricelli             1,321                               9,474
------------------------------------------------------------------------------------------------------------------------
Margaret Ann Campbell         4,002                  65,595      18,950    11,005.5
------------------------------------------------------------------------------------------------------------------------
Frances A.I. Knoop            4,002                  65,595      18,950    11,005.5
------------------------------------------------------------------------------------------------------------------------
Mary E. Biddinger, as
Trustee under the Mary E.
Biddinger Living Trust
Agreement Dated 23, 1991      4,002                  65,595      18,950    11,005.5
------------------------------------------------------------------------------------------------------------------------
Robert M. Campbell and
Comerica Bank, as
Co-Trustee of the
Katharine I. Campbell
Living Trust dated
June 29, 1993                 4,002                  65,595      18,950    11,005.5
------------------------------------------------------------------------------------------------------------------------
Sallie E. Snyder, as
Trustee under the Sallie
E. Snyder Living Trust
Agreement Dated October
4, 1989                       4,000                  65,595      18,950      11,000
------------------------------------------------------------------------------------------------------------------------
Jerry H. Steward, Sole
Trustee under the Jerry
H. Steward Living Trust,
Dated December 14, 1966,
and any amendments
thereto                       2,076                  34,028       9,830       5,709
------------------------------------------------------------------------------------------------------------------------
Margaret H. Steward, sole
Trustee under the
Margaret H. Steward
Living Trust, dated
December 14, 1966, and
any amendments thereto        2,060                  33,787       9,760       5,665
------------------------------------------------------------------------------------------------------------------------
John H. Steward, II
Trustee of the John H.
Steward, II Revocable
Living Trust, Dated June
5, 1990                       1,962                  64,338      18,586
------------------------------------------------------------------------------------------------------------------------
Douglas A. Steward and
Roxanne Steward, as
Trustees                      1,962                  64,338      18,586
------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                     - 44 -

<PAGE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
                            Class A    Class B     Series A    Series B     Series C    Series D    Series E    Series F
                            Common      Common     Preferred   Preferred   Preferred   Preferred   Preferred   Preferred
       Shareholder           Stock      Stock        Stock       Stock       Stock       Stock       Stock       Stock
------------------------------------------------------------------------------------------------------------------------
<S>                           <C>      <C>           <C>         <C>       <C>         <C>         <C>         <C>
of the Douglas
A. Steward Revocable
Living Trust Dated May
21, 1990, As Amended
------------------------------------------------------------------------------------------------------------------------
Key Trust Company and
Frank J. Dale, Co-Trustee
of the Jerry H. Steward
Children's Trust #1 FBO
Elizabeth H. Steward, DTD
12/16/76                      1,282                  42,054      12,149
------------------------------------------------------------------------------------------------------------------------
Key Trust Company and
Frank J. Dale, Co-Trustee
of the Jerry H. Steward
Children's Trust #5 FBO
Eileen H. Steward, DTD
12/16/76                      1,282                  42,054      12,149
------------------------------------------------------------------------------------------------------------------------
Key Trust Company and
Frank J. Dale, Co-Trustee
of the Jerry H. Steward
Children's Trust #4 FBO
Ellen H. Steward, DTD
12/16/76                      1,282                  42,054      12,149
------------------------------------------------------------------------------------------------------------------------
Key Trust Company and
Frank J. Dale, Co-Trustee
of the Jerry H. Steward
Children's Trust #3 FBO
Jason H. Steward, DTD
12/16/76                      1,282                  42,054      12,149
------------------------------------------------------------------------------------------------------------------------
Key Trust Company and
Frank J. Dale, Co-Trustee
of the Jerry H. Steward
Children's Trust #2 FBO
Jeffrey H. Steward, DTD
12/16/76                      1,282                  42,054      12,149
------------------------------------------------------------------------------------------------------------------------
Key Trust Company and
Frank J. Dale, Co-trustee
of                            1,166                  38,245      11,049
------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                     - 45 -

<PAGE>

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
                            Class A    Class B     Series A    Series B     Series C    Series D    Series E    Series F
                            Common      Common     Preferred   Preferred   Preferred   Preferred   Preferred   Preferred
       Shareholder           Stock      Stock        Stock       Stock       Stock       Stock       Stock       Stock
------------------------------------------------------------------------------------------------------------------------
<S>                           <C>      <C>           <C>         <C>       <C>         <C>         <C>         <C>
the Jerry H. Steward
Irrevocable Stock Trust
#5 FBO Eileen H. Steward
DTD 5/15/1990                 1,166                  38,245      11,049
------------------------------------------------------------------------------------------------------------------------
Key Trust Company and
Frank J. Dale, Co-trustee
of the Jerry H. Steward
Irrevocable Stock Trust
#4 FBO Ellen H. Steward
DTD 5/15/1990                 1,166                  38,245      11,049
------------------------------------------------------------------------------------------------------------------------
Key Trust Company and
Frank J. Dale, Co-trustee
of the Jerry H. Steward
Irrevocable Stock Trust
#3 FBO Jason H. Steward
DTD 5/15/1990                 1,166                  38,245      11,049
------------------------------------------------------------------------------------------------------------------------
Key Trust Company and
Frank J. Dale, Co-trustee
of the Jerry H. Steward
Irrevocable Stock Trust
#2 FBO Elizabeth H.
Garner DTD 5/15/1990          1,166                  38,245      11,049
------------------------------------------------------------------------------------------------------------------------
Jeffery H. Steward and
Lisa G. Steward, Trustees
of the Jeffery H. Steward
Revocable Living Trust
Dated May 16, 1991, As
Amended                         680                  22,284       6,437
------------------------------------------------------------------------------------------------------------------------
Jeffrey W. Tott                                                                          42,500
------------------------------------------------------------------------------------------------------------------------
Ira Michael Kirkell                                                                      42,500
------------------------------------------------------------------------------------------------------------------------
TOTALS:                      95,698    1,610,018    910,000     900,000     559,897      83,000
                             ======    =========    =======     =======     =======      ======
------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                     - 46 -

<PAGE>

                                   Schedule VI

                                  Steward Group

Douglas A. Steward, Co-Trustee of the
Douglas A. Steward Revocable Living Trust
Dated May 21, 1990, as Amended

John H. Steward, II, Trustee of the
John H. Steward, II Revocable Living Trust
Dated June 5, 1990

Jeffery H. Steward, Co-Trustee of the
Jeffery H. Steward Revocable Living trust
dated May 16, 1991, as Amended

Margaret H. Steward, Sole Trustee of the
Margaret H. Steward Living Trust, dated
December 14, 1966, and any amendments thereto

Jerry H. Steward, Sole Trustee of the
Jerry H. Steward Living Trust, dated
December 14, 1966, and any amendments thereto

                                Im'Oberstag Group

Margaret Ann Campbell

Sallie F. Snyder, Trustee of the
Sallie F. Snyder Living Trust Agreement,
dated October 4, 1989

Frances A. I. Knoop

Mary E. Biddinger, Trustee of the
Mary E. Biddinger Living Trust Agreement
dated February 23, 1991

Robert M. Campbell and Comerica Bank,
Co-Trustees of the Katharine I. Campbell
Living Trust dated June 29, 1993

                                     - 47 -

<PAGE>

                                   Exhibit A-1

                            FabriSteel Holdings, Inc.

                                     Joinder

                  To Securities Purchase and Holders Agreement

FabriSteel Holdings, Inc.
22900 West Eight Mile Road
Southfield, Michigan  48034

Gentlemen and Ladies:

In connection with my receipt from FabriSteel Holdings, Inc. (the "Company") of
      shares of Class A Common Stock, par value $.01 per share, of the Company
-----
represented by Certificate No.      and           shares of   % Series
                              -----     ---------           --         --
Cumulative Preferred Stock, par value $.01 per share and stated value $    per
                                                                       ---
share, of the Company represented by Certificate No.      (collectively, the
                                                     ----
"Securities"), I hereby represent and warrant to, and agree and covenant with,
you as follows:

          1. By this instrument I shall be bound by the terms and conditions of
the Securities Purchase and Holders Agreement, dated as of March   , 2000 (the
                                                                 --
"Agreement"), among, inter alia, the Company, Citicorp Venture Capital, Ltd., a
New York corporation ("CVC"), the Continuing Investors (as defined therein) and
the other signatories thereto and agree to be a "Management Investor" as such
term is defined therein, and to be subject to the rights, duties and obligations
of a Management Investor pursuant to the terms of such Agreement.

          2. I have read and understand each of the provisions of the Agreement.

          3. I have full legal right, power and authority (including the due
authorization by all necessary corporate action) to enter into this Joinder and
to perform my obligations hereunder without the need for the consent of any
other person.

          4. This Joinder has been duly authorized, executed and delivered and
constitutes my valid and binding obligation enforceable against me in accordance
with the terms hereof.

          5. The Securities are being acquired by me solely for my own account
for investment and not with a view to any further distribution thereof that
would violate the Securities Act of 1933, as amended (the "Securities Act") or
the applicable securities laws of any state. I will not distribute the
Securities in violation of the Securities Act or the applicable securities laws
of any state.

                                     - 48 -

<PAGE>

          6. I understand that the Securities have not been registered under the
Securities Act or registered for resale under the securities laws of any state
and must be held indefinitely unless subsequently registered under the
Securities Act and any applicable state securities laws or unless an exemption
from such registration is or becomes available.

          7. I am financially able to hold the Securities for long-term
investment, I believe that the nature and amount of the Securities being
purchased are consistent with my overall investment program and financial
position, and I recognize that there are substantial risks involved in the
purchase of the Securities.

          8. I confirm that (i) I am familiar with the business of the Company
and its subsidiaries, (ii) I have had the opportunity to ask questions of the
officers and directors of the Company and its subsidiaries and to obtain (and
that I have received to my satisfaction) such information about the business and
financial condition of the Company and its subsidiaries as I have reasonably
requested, and (iii) I, either alone or with my representative (as defined in
Rule 501(h) promulgated under the Securities Act), if any, have such knowledge
and experience in financial and business matters that I am capable of evaluating
the merits and risks of the prospective investment in the Securities.

          9. I reside at the address set forth below the signature line to this
letter.

          10. I agree that the certificates representing the Securities shall
bear the following legend or a similar legend:

          THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
          1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY
          STATE AND MAY NOT BE TRANSFERRED WITHOUT REGISTRATION UNDER THE
          SECURITIES ACT OR STATE SECURITIES LAWS OR AN OPINION OF COUNSEL,
          SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATION IS NOT REQUIRED.

          THE SECURITIES REPRESENTED BY THIS CERTIFICATE ALSO SUBJECT TO THE
          TERMS AND CONDITIONS OF A SECURITIES PURCHASE AND HOLDERS AGREEMENT BY
          AND AMONG THE COMPANY AND THE HOLDERS SPECIFIED THEREIN, A COPY OF
          WHICH AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE OF THE COMPANY. THE
          SALE, TRANSFER OR OTHER DISPOSITION OF THE SECURITIES IS SUBJECT TO
          THE TERMS OF SUCH AGREEMENT AND THE SECURITIES ARE TRANSFERABLE ONLY
          UPON PROOF OF COMPLIANCE THEREWITH.

          11. I agree that a notation will be made in the appropriate transfer
records of the Company with respect to the restrictions on transfer of the
Securities required under or pursuant to the Agreement.

                                     - 49 -

<PAGE>

          12. I have executed this Joinder and declare that the information
contained herein is current, complete and accurate and may be relied upon by the
Company.

                                        Very truly yours,

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

Dated:                                  Address:
                                                --------------------------------

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

                                        SSN:
                                            ------------------------------------

                                     - 50 -

<PAGE>

                                   Exhibit A-2

                            FabriSteel Holdings, Inc.

                                     Joinder

                  To Securities Purchase and Holders Agreement

FabriSteel Holdings, Inc.
22900 West Eight Mile Road
Southfield, Michigan  48034

Gentlemen and Ladies:

In connection with my receipt from FabriSteel Holdings, Inc. (the "Company") of
      shares of Class A Common Stock, par value $.01 per share, of the Company
-----
represented by Certificate No.      and           shares of   % Series
                              -----     ---------           --         --
Cumulative Preferred Stock, par value $.01 per share and stated value $   per
                                                                       --
share, of the Company represented by Certificate No.      (collectively, the
                                                     ----
"Securities"), I hereby represent and warrant to, and agree and covenant with,
you as follows:

          1. By this instrument I shall be bound by the terms and conditions of
the Securities Purchase and Holders Agreement, dated as of March   , 2000 (the
                                                                 --
"Agreement"), among, inter alia, the Company, Citicorp Venture Capital, Ltd., a
New York corporation ("CVC"), the Continuing Investors (as defined therein) and
the other signatories thereto and agree to be an "Investor" as such term is
defined therein, and to be subject to the rights, duties and obligations of an
Investor pursuant to the terms of such Agreement.

          2. I have read and understand each of the provisions of the Agreement.

          3. I have full legal right, power and authority (including the due
authorization by all necessary corporate action) to enter into this Joinder and
to perform my obligations hereunder without the need for the consent of any
other person.

          4. This Joinder has been duly authorized, executed and delivered and
constitutes my valid and binding obligation enforceable against me in accordance
with the terms hereof.

          5. The Securities are being acquired by me solely for my own account
for investment and not with a view to any further distribution thereof that
would violate the Securities Act of 1933, as amended (the "Securities Act") or
the applicable securities laws of any state. I will not distribute the
Securities in violation of the Securities Act or the applicable securities laws
of any state.

                                     - 51 -

<PAGE>

          6. I understand that the Securities have not been registered under the
Securities Act or registered for resale under the securities laws of any state
and must be held indefinitely unless subsequently registered under the
Securities Act and any applicable state securities laws or unless an exemption
from such registration is or becomes available.

          7. I reside at the address set forth below the signature line to this
letter.

          8. I agree that the certificates representing the Securities shall
bear the following legend or a similar legend:

          THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
          1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY
          STATE AND MAY NOT BE TRANSFERRED WITHOUT REGISTRATION UNDER THE
          SECURITIES ACT OR STATE SECURITIES LAWS OR AN OPINION OF COUNSEL,
          SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATION IS NOT REQUIRED.

          THE SECURITIES REPRESENTED BY THIS CERTIFICATE ALSO SUBJECT TO THE
          TERMS AND CONDITIONS OF A SECURITIES PURCHASE AND HOLDERS AGREEMENT BY
          AND AMONG THE COMPANY AND THE HOLDERS SPECIFIED THEREIN, A COPY OF
          WHICH AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE OF THE COMPANY. THE
          SALE, TRANSFER OR OTHER DISPOSITION OF THE SECURITIES IS SUBJECT TO
          THE TERMS OF SUCH AGREEMENT AND THE SECURITIES ARE TRANSFERABLE ONLY
          UPON PROOF OF COMPLIANCE THEREWITH.

          9. I agree that a notation will be made in the appropriate transfer
records of the Company with respect to the restrictions on transfer of the
Securities required under or pursuant to the Agreement.

                                     - 52 -

<PAGE>

          10. I have executed this Joinder and declare that the information
contained herein is current, complete and accurate and may be relied upon by the
Company.

                                        Very truly yours,

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

Dated:

                                        Address:
                                                --------------------------------

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

                                        SSN:
                                            ------------------------------------

                                     - 53 -

<PAGE>

                                   Exhibit B-1

                Amended and Restated Certificate of Incorporation

                            FabriSteel Holdings, Inc.

                                     - 54 -

<PAGE>

                                   Exhibit B-2

                                     Bylaws

                            FabriSteel Holdings, Inc.

                                     - 55 -

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