Document:

Form of registered 9.5% Senior Note due 2017 (exchange note)

 Exhibit 4.1(e) 

This Note is a Global Note within the meaning of the Indenture hereinafter referred to and is registered in the name of a Depositary or a
nominee of a Depositary. This Note is not exchangeable for Notes registered in the name of a person other than the Depositary or its nominee except in the limited circumstances described in the Indenture, and no transfer of this Note (other than a
transfer of this Note as a whole by the Depositary to a nominee of the Depositary or by a nominee of the depositary to the depositary or another nominee of the depositary) may be registered except in the limited circumstances described in the
Indenture. 
 Unless this Certificate is presented by an authorized representative of The Depository Trust Company (a New York
corporation) (“DTC”) to the issuer or its agent for registration of transfer, exchange, or payment, and any Certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized
representative of DTC (and any payment is made to Cede & Co. or such other entity as is requested by an authorized representative of DTC), any transfer, pledge or other use hereof for value or otherwise by or to any person is wrongful
inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 

 CUSIP NO: 97654NAB0 
 WIRECO WORLDGROUP INC. 
  

			
	No. A-1	 	$ 425,000,000

 Form of 9.5% SENIOR NOTE DUE 2017 

WIRECO WORLDGROUP INC., a Delaware corporation, as issuer (the “Company”), for value received, promises to pay to
CEDE & CO. or its registered assigns the principal sum of FOUR HUNDRED TWENTY FIVE MILLION DOLLARS ($425,000,000) on May 15, 2017. 
 Interest Payment Dates: May 15 and November 15 commencing November 15, 2010 
 Record Dates: May 1 and November 1 
 Reference is made to the further
provisions of this Note contained herein, which shall for all purposes have the same effect as if set forth at this place. 
 IN
WITNESS WHEREOF, the Company has caused this Note to be signed by a duly authorized officer. 
  

					
	WIRECO WORLDGROUP INC.
		
	By:	 	  

		 	Name:	 	J. Keith McKinnish
		 	Title:	 	Senior Vice President and Chief Financial Officer

 Certificate of Authentication 

This is one of the 9.5% Senior Notes Due 2017 referred to in the within-mentioned Indenture. 

 

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Authorized Signatory

 Dated:
                     

 WIRECO WORLDGROUP INC. 

9.5% SENIOR NOTE DUE 2017 
 1. Interest. WIRECO WORLDGROUP INC., a Delaware corporation, as issuer (the “Company”), promises to pay, until the principal hereof is paid or made available for payment, interest
on the principal amount set forth on the face hereof at a rate of 9.5% per annum. Interest hereon shall accrue from and including the most recent date to which interest has been paid or, if no interest has been paid, from and including
May 19, 2010 to but excluding the date on which interest is paid. Interest shall be payable in arrears on each May 15 and November 15, commencing November 15, 2010. Interest shall be computed on the basis of a 360-day year of
twelve 30-day months and actual days elapsed. The Company shall pay interest on overdue principal and on overdue interest (to the full extent permitted by law) at the rate borne by the Notes. 

2. Method of Payment. The Company shall pay interest hereon (except defaulted interest) to the Persons who are registered Holders
at the close of business on May 1, or November 1, immediately preceding the interest payment date (whether or not a Business Day). Holders must surrender Notes to a Paying Agent to collect principal payments. The Company shall pay to the
Paying Agent principal and interest in money of the United States of America that at the time of payment is legal tender for payment of public and private debts. If a Holder has given wire transfer instructions to the Company, the Company may pay,
or cause to be paid by the Paying Agent, all principal and interest on the Holder’s Notes in accordance with those instructions. All other payments on the Notes shall be made at the office or agency of the Paying Agent and Registrar unless the
Company elects to make interest payments by check mailed to the Holders at their address set forth in the Register. 
 3.
Paying Agent and Registrar. Initially, U.S. Bank National Association (the “Trustee”) shall act as a Paying Agent and Registrar. The Company may change any Paying Agent or Registrar without prior notice to the Holders. The
Company may act as Paying Agent or Registrar; provided that if the Company acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it as a separate trust fund. 

4. Indenture. The Company issued the Notes under an Indenture dated as of May 19, 2010 (the “Indenture”) by
and among the Company, the Guarantors party thereto, and the Trustee. This is one of an issue of Notes of the Company issued, or to be issued, under the Indenture. The terms of the Notes include those stated in the Indenture and those made part of
the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S. Code Sections 77aaa-77bbbb), as amended from time to time. The Notes are subject to all such terms, and Holders are referred to the Indenture and such Act for a statement of
them. Capitalized and certain other terms used herein and not otherwise defined have the meanings set forth in the Indenture. 

5. Optional Redemption. 
 (a) Except as set forth below or in the Indenture, the Notes shall not be redeemable at the option of the Company prior to May 15, 2013. 

On or after May 15, 2013, the Company may redeem all or a part of the Notes upon not less than 30 nor more than 60 days’
notice, at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest, and Special Interest, if any, on the Notes redeemed, to the applicable Redemption Date, if redeemed during the
twelve-month period beginning on May 15 of the years indicated below, subject to the rights of Holders of Notes on the relevant record date to receive interest on the relevant interest payment date: 

 

					
	 YEAR
	  	PERCENTAGE	 
	 2013
	  	 	104.750	% 
	 2014
	  	 	102.375	% 
	 2015
	  	 	100	% 

 Unless the Company defaults in the payment of the redemption price, interest will cease to
accrue on the Notes or portions thereof called for redemption on the applicable Redemption Date. Such redemption may be made upon notice as provided in Article Three of the Indenture. 

(b) At any time, or from time to time, on or prior to May 15, 2013, the Notes may also be redeemed, by or on behalf of the Company,
in whole, or any portion thereof, at the Company’s option, at a redemption price equal to 100% of the principal amount of the Notes redeemed, plus the Applicable Premium as of, and accrued but unpaid interest and Special Interest, if any, to
the Redemption Date, subject to the rights of Holders of Notes on the relevant record date to receive interest due on the relevant interest payment date. Such redemption may be made upon notice as provided in Article Three of the Indenture. The
Company may provide in such notice that payment of such price and performance of the Company’s obligation with respect to such redemption may be performed by another Person. Unless the Company defaults in payment of the Applicable Premium, on
and after the applicable date of redemption, interest will cease to accrue on the Notes to be redeemed. 
 “Applicable
Premium” means, with respect to any Note on any redemption date, the greater of: 
 (1) 1.0% of the principal amount of
the Note; or 
 (2) the excess of: 
 (a) the present value at such redemption date of (i) the redemption price of the Note at May 15, 2013 (such redemption price being set forth in the table in paragraph (a) above) plus
(ii) all required interest payments due on the Note through May 15, 2013 (excluding accrued but unpaid interest to the redemption date), computed using a discount rate equal to the Treasury Rate as of such redemption date plus 50 basis
points; over 
 (b) the principal amount of the Note. 

“Comparable Treasury Issue” means the U.S. Treasury security selected by an Independent Investment Banker as having a
maturity most nearly equal to the period from the Redemption Date to May 15, 2013, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities; provided if such period
is less than one year, then the U.S. Treasury security having a maturity of one year shall be used. 
 “Comparable
Treasury Price” means, with respect to any Redemption Date, (1) the average of four Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or
(2) if the Trustee obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations. 
 “Independent Investment Banker” means an independent investment banking institution of national standing appointed by the Company. 

“Reference Treasury Dealer” means two, and at the Company’s option up to three additional, primary U.S. government
securities dealers in New York City (each a “Primary Treasury Dealer”) selected by the Company. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date,
the average, as determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00
p.m., New York City time, on the third Business Day preceding such Redemption Date. 
 “Treasury Rate” means,
with respect to any Redemption Date, (1) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any
successor publication that is published weekly by the Board of 

 
Governors of the Federal Reserve System and that establishes yields on actively traded U.S. Treasury securities adjusted to constant maturity under the caption “Treasury Constant
Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the stated maturity, yields for the two published maturities most closely corresponding to the Comparable
Treasury Issue shall be determined, and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight-line basis, rounding to the nearest month) or (2) if such release (or any successor release) is not published during
the week preceding the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed
as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. The Treasury Rate shall be calculated on the third Business Day preceding the Redemption Date. 

The notice of redemption with respect to the foregoing redemption need not set forth the Applicable Premium but only the manner of
calculation thereof. The Company shall notify the Trustee of the Applicable Premium with respect to any redemption promptly after the calculation, and the Trustee shall not be responsible for such calculation. 

(c) (c) At any time prior to May 15 , 2013, the Company may on any one or more occasions redeem up to 35% of the original
aggregate principal amount of Notes issued under the Indenture (calculated giving effect to the issuance of any Additional Notes) at a redemption price equal to 109.5% of the principal amount of the Notes redeemed, plus accrued and unpaid interest
and Special Interest, if any, to the Redemption Date (subject to the rights of Holders of Notes on the relevant record date to receive interest on the relevant interest payment date), with the net cash proceeds of one or more Equity Offerings;
provided that: 
 (1) at least 65% of the original aggregate principal amount of Notes issued under the
Indenture (calculated giving effect to the issuance of any Additional Notes) remains outstanding immediately after the occurrence of such redemption; and 
 (2) any such redemptions occur within 90 days of the date of the closing of any such Equity Offering. 
 Such redemption may be made upon notice as set forth in Article Three of the Indenture. . 
 (d) If less than all of the Notes are to be redeemed at any time, the Trustee shall select Notes for redemption as follows: 

(1) if the Notes are listed on any national securities exchange, in compliance with the requirements of the principal
national securities exchange on which the Notes are listed; or 
 (2) if the Notes are not listed on any national
securities exchange, on a pro rata basis, by lot or by such method as the Trustee deems fair and appropriate; 
 provided that no Notes
of $2,000 or less shall be redeemed in part. 
 A new Note in principal amount equal to the unredeemed portion thereof shall be
issued in the name of the Holder thereof upon cancellation of the original Note. Notes called for redemption pursuant to this paragraph 5 hereto become due on the related Redemption Date. On and after the Redemption Date, interest stops accruing on
Notes or portions of them called for redemption. 
 (e) The Notes may be redeemed pursuant to Section 4.08(g) of the
Indenture. 
 6. Notice of Redemption. Notices of redemption shall be mailed in accordance with Article Three of the
Indenture. If any Note is to be redeemed in part only, the notice of redemption that relates to such Note shall state the portion of the principal amount thereof to be redeemed. 

 7. Offers To Purchase. The Indenture provides that upon the occurrence of a Change of
Control or upon certain Asset Sales and subject to further limitations contained therein, the Company may be required to make an offer to purchase outstanding Notes in accordance with the procedures set forth in the Indenture. 

8. Denominations, Transfer, Exchange. The Notes are in registered form without coupons in denominations of $2,000 and integral
multiples of $1,000. A Holder may transfer or exchange Notes in accordance with the Indenture, provided that if the Company acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it as a separate trust fund.
The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay to it any taxes and fees required by law or permitted by the Indenture. The Registrar shall not be required to exchange or
register a transfer of any Note for a period of 15 days immediately preceding the redemption date of Notes, except the unredeemed portion of any Note being redeemed in part. 
 10. Persons Deemed Owners. The registered Holder of this Note may be treated as the owner of this Note for all purposes. 
 11. Unclaimed Money. If money for the payment of principal or interest remains unclaimed for two years, the Trustee or Paying Agent shall pay the money back to the Company at its written request.
After that, Holders entitled to the money must look to the Company for payment as general creditors unless an “abandoned Property” law designates another Person. 
 12. Amendment, Supplement, Waiver, Etc. The Company, the Guarantors, if any, and the Trustee may, without the consent of the Holders of any outstanding Notes, amend, waive or supplement the
Indenture or the Notes for certain specified purposes, including, among other things, curing ambiguities, defects or inconsistencies, maintaining the qualification of the Indenture under the Trust Indenture Act of 1939, as amended, providing for the
assumption by a successor to the Company’s or any Guarantor’s obligations under the Indenture and making any change that does not adversely affect the legal rights under the Indenture of any Holder. Other amendments and modifications of
the Indenture or the Notes may be made by the Company, the Guarantors, if any, and the Trustee with the consent of the Holders of not less than a majority of the aggregate principal amount of the outstanding Notes, subject to certain exceptions
requiring the consent of the Holders of the particular Notes to be affected. 
 13. Restrictive Covenants. The Indenture
imposes certain limitations on the ability of the Company, its Restricted Subsidiaries and in certain cases, the other Restricted Entities or Guarantors, to, among other things, incur additional indebtedness, pay dividends on, redeem or repurchase
its Capital Stock, make certain investments, sell assets, create restrictions on the payment of dividends or other amounts to any Restricted Entity from its Restricted Subsidiaries, enter into transactions with Affiliates, create liens or
consolidate, merge or sell all or substantially all of the assets of the Company and its Restricted Subsidiaries or of a Guarantor, as applicable, and requires the Company to provide reports to Holders of the Notes. Such limitations are subject to a
number of important qualifications and exceptions. Pursuant to Section 4.06 of the Indenture, the Company must annually report to the Trustee on compliance with such limitations. 

14. Successor Corporation. When a successor corporation assumes all the obligations of its predecessor under the Notes and the
Indenture and the transaction complies with the terms of Article Five of the Indenture, the predecessor corporation shall, except as provided in Article Five of the Indenture, be released from those obligations. 

15. Defaults and Remedies. Events of Default are set forth in the Indenture. Subject to certain limitations in the Indenture, if
an Event of Default occurs and is continuing, then, and in each and every such case (except as described below), either the Trustee, by notice in writing to the Company, or the Holders of not less than 25% of the principal amount of the Notes then
outstanding, by notice in writing to the Company and the Trustee, may, and the Trustee at the request of such Holders shall, declare due and payable, if not already due and payable, the principal of and any accrued and unpaid interest on all of the
Notes; and upon any such declaration all such amounts upon such Notes shall become and be immediately due and payable, anything in the Indenture or in the Notes to the contrary notwithstanding. If an Event of Default specified in Sections 6.01(7)
and (8) of the Indenture occurs with respect to the Company or any Significant Subsidiary, then the principal of and any accrued 

 
and unpaid interest on all of the Notes shall immediately become due and payable without any declaration or other act on the part of the Trustee or any Holder. Holders may not enforce the
Indenture or the Notes except as provided in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces the Indenture or the Notes. Subject to certain limitations, Holders of a majority in principal amount of the then
outstanding Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders notice of any continuing default (except a default in payment of principal, premium, if any, or interest on the Notes) if it
determines that withholding notice is in their best interests. 
 16. Trustee Dealings with Company. Subject to certain
limitations imposed by the Trust Indenture Act, the Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its
Affiliates, as if it were not Trustee. 
 17. No Recourse Against Others. No past, present or future director, officer,
employee, incorporator, agent, member, stockholder or Affiliate of the Company or any Guarantor, as such, shall have any liability for any obligations of the Company or the Guarantors under the Notes, the Indenture, the Note Guarantees or for any
claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes and Note Guarantees by accepting a Note and a Note Guarantee waives and releases all such liabilities. The waiver and release are part of the
consideration for issuance of the Notes and the Note Guarantees. 
 18. Discharge. The Company’s obligations
pursuant to the Indenture shall be discharged, except for obligations pursuant to certain sections thereof, subject to the terms of the Indenture, upon the payment of all the Notes or upon the irrevocable deposit with the Trustee of United States
dollars or Government Securities sufficient to pay when due principal of and interest on the Notes to maturity or redemption, as the case may be. 
 19. Note Guarantees. The Notes shall be entitled to the benefits of certain Note Guarantees made for the benefit of the Holders. Reference is hereby made to the Indenture for a statement of the
respective rights, limitations of rights, duties and obligations thereunder of the Guarantors, the Trustee and the Holders. 

20. Authentication. This Note shall not be valid until the Trustee signs the certificate of authentication on the other side of
this Note. 
 21. Governing Law. THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF. The Trustee, the Company and the Guarantors agree to submit to the jurisdiction of the courts of the State of New York in any action or proceeding arising out of or relating to the
Indenture or the Notes. 
 22. Abbreviations. Customary abbreviations may be used in the name of a Holder or an assignee,
such as: TEN COM (= tenants in common), TENANT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

 The Company shall furnish to any Holder upon written request and without charge a copy of
the Indenture. Requests may be made to: 
 WIRECO WORLDGROUP INC. 

12200 NW Ambassador Drive 
 Kansas City, MO 64163-1244 
 Attn:  General Counsel 

With a copy to: 
 Wachtell, Lipton, Rosen & Katz 
 51 West 52nd Street 

New York, NY 10019 
 Attn:  David M. Silk 
   Ante Vucic 

 ASSIGNMENT 
 I or we assign and transfer this Note to: 
  

 
 (Insert assignee’s social
security or tax I.D. number) 
  
  

(Print or type name, address and zip code of assignee) 
 and irrevocably appoint: 
 Agent to transfer this Note on the books of the
Company. The Agent may substitute another to act for him. 
  

							
	Date:                     	 		 	Your Signature:	 	  

		 		 		 	 (Sign exactly as your name appears on
 the other side of this Note)

					
			
	Signature Guarantee:	 	  
	  	

 SIGNATURE GUARANTEE 
 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Security Transfer
Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934,
as amended. 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have all or any part of this Note purchased by the Company pursuant to Section 4.08 or Section 4.12 of
the Indenture, check the appropriate box: 
 [    ]
Section 4.08                                      
  [    ] Section 4.12 
 If you want to have only part of the Note purchased by the Company
pursuant to Section 4.08 or Section 4.12 of the Indenture, state the amount you elect to have purchased: 
  

			
	$	 	                             
   
		 	(multiple of $1,000)

 Date:
                     
  

			
	Your Signature:	 	  

		 	(Sign exactly as your name appears on the face of this Note)

  

	
	  

	 Signature Guaranteed

 SIGNATURE GUARANTEE 
 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Security Transfer
Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934,
as amended.Ira L. Glazer Employment Term Sheet dated February 2011

 Exhibit 10.1 
 EXECUTION COPY 
 Employment Term Sheet 

Set forth below is an outline of the management compensation terms by which the undersigned parties agree to abide following consummation of the
transactions (the “Transactions”) contemplated by the Agreement and Plan of Merger (the “Merger Agreement”) dated as of November 2, 2006 by and among Wire Rope Corporation of America, Inc. (the
“Company”), its stockholders, Closer Merger Sub Inc., and Closer US Holdings Inc. 
  

			
	 Name:
	  	Ira Glazer (the “Executive”)
		
	 Position:
	  	President, Chief Executive Officer, and member of the Company’s Board of Directors (the “Board”).
		
	 Base Salary:
	  	$500,000.
		
	 Annual Bonus:
	  	Mutually agreeable performance-based bonus plan. Bonus range from $50,000 to $1.5 million, with a target of $750,000. See Exhibit A for outline of program for fiscal
2007.
		
	 Equity Compensation
	  	Initial grant of stock option to purchase 5% of WRCA Holdings (Cyprus) Ltd. Terms of stock options to be same as those applicable to initial stock options granted to other senior
executives. In the event of any change in capitalization subsequent to the date hereof but prior to such stock option grant, the Company shall make an equitable adjustment to the amount set forth above.
		
	 Initial Investment:
	  	Initial purchase of __ shares of WRCA Holdings (Cyprus) Ltd. Investment to be pari passu with Fox Paine and terms of investment to be same as those applicable to equity
investment of other senior executives.
		
	 Employee Benefits:
	  	Participation in the employee benefit plans made available to senior executives of the Company generally.
		
	 Initial Term:
	  	Five years, beginning on the Closing Date (as defined in the Merger Agreement); term shall automatically be renewed for consecutive one-year terms at the end of the initial term
unless either party gives at least 90 days written notice of its intention not to renew prior to the expiration of a term. Term shall automatically expire upon a termination of the Executive’s
employment.

			
		
	Severance:	  	In the event that the Executive’s employment is terminated by the Company without Cause or the Executive resigns employment for Good Reason, subject to the Executive’s
execution and non-revocation of a release in a form satisfactory to the Company, the Company shall pay the Executive severance in an amount equal to the Executive’s then current base salary for a period of 18 months. The Executive will not be
entitled to any severance in the event that the Executive’s employment with the Company is terminated for Cause or the Executive resigns without Good Reason. Payment dates will be modified to comply with Section 409A of the Internal Revenue
Code as necessary.
		
	Cause:	  	The Executive’s commission of a felony crime or a crime of moral turpitude, a willful commission of a material act of dishonesty involving the Company, a material breach
(which breach is not promptly cured) of the Executive’s obligations under any agreement entered into between the Executive and the Company or any of its affiliates, willful failure to perform the Executive’s duties, the Executive’s
material breach of the Company’s policies or procedures that is not reasonably curable in the Company’s sole discretion or any other willful misconduct which causes material harm to the Company or its business reputation, including due to
any adverse publicity.
		
	Good Reason:	  	The Executive’s voluntary resignation after any of the following actions are taken by the Company or any of its subsidiaries without the Executive’s consent (i) a
reduction in the Executive’s base salary or target bonus (but not including any diminution related to a broader compensation reduction that is not limited to any particular employee or executive), (ii) a requirement that the Executive be based
anywhere other than within 75 miles of Kansas City, Missouri, or (iii) a material diminution in the Executive’s title, duties, or responsibilities from those in effect on the date hereof (it being understood that the Executive’s obligation
to report to the Board and the Board’s exercise of its final authority over Company matters shall not give rise to any such claim of diminution); provided, however, that no event shall constitute Good Reason unless the Executive has notified
the Company in writing describing the event which constitutes Good Reason and then only if the Company fails to cure such event within thirty (30) days after the Company’s receipt of such written notice.
		
	 Confidentiality;

Work Product
	  	During the Executive’s employment with the Company and its subsidiaries and thereafter, the Executive will not divulge, transmit or otherwise disclose (except as legally
compelled by court order), directly or indirectly, any confidential knowledge or information with respect to the operations, finances, organization or employees of the Company or its affiliates or with respect to confidential or secret processes,
services, techniques, customers or plans with respect to the Company and its affiliates, and the Executive will not use, directly or indirectly, any confidential information of the Company and
its

			
		
		  	affiliates for the benefit of anyone other than the Company or its affiliates. All new processes, techniques, know-how, inventions, plans, products, patents and devices
developed, made or invented by the Executive, alone or with others, while an employee of the Company and its subsidiaries which are related to the business of the Company or its affiliates shall be and become the sole property of the Company, and
the Executive hereby assigns any and all rights therein or thereto to the Company. All files, records, correspondence, memoranda, notes or other documents (including, without limitation, those in computer-readable form) or property relating or
belonging to the Company and its affiliates, whether prepared by the Executive or otherwise coming into his possession in the course of the performance of his services, shall be the exclusive property of the Company and shall be delivered to the
Company and not retained by the Executive (including, without limitations, any copies thereof) upon termination of employment for any reason whatsoever.
		
	 Non-Competition
	  	While employed by the Company and its subsidiaries and for a period of 18 months thereafter (the “Restricted Period”), the Executive shall not, within any jurisdiction
or marketing area in which the Company or any of its affiliates is doing business, directly or indirectly, own, manage, operate, control, consult with, be employed by, participate in the ownership, management, operation or control of, or otherwise
render services to or engage in, any business engaged in or competitive with the businesses conducted by the Company and its affiliates; provided, that the Executive’s ownership of securities of 2% or less of any publicly traded class of
securities of a public company shall not violate this paragraph. During the Restricted Period, the Executive shall not solicit for business or accept the business of, any person or entity who is, or was at any time within the previous twelve months,
a customer of the business conducted by the Company (or potential customer with whom the Company had initiated contact) or its affiliates.
		
	 Non-Solicitation
	  	During the Restricted Period, the Executive shall not, directly or indirectly, employ, solicit, for employment, or otherwise contract for or hire, the services of any individual
who is then an employee of the Company or its affiliates or who was an employee of the Company and its affiliates within the previous twelve months. Further, during the Restricted Period, the Executive shall not take any action that could reasonably
be expected to have the effect of encouraging or inducing any employee, representative, officer, or director of the Company or any of its affiliates to cease their relationship with the Company or any of its affiliates for any
reason.

			
		
	Governing Law/Forum of Dispute Resolution	  	 This termsheet shall be governed by the laws of New York, without regard to principles of conflict of laws.

 
 Subject to the next paragraph, any controversy or claim arising out of or relating
to this termsheet shall be settled by final, binding and nonappealable arbitration in New York, NY. Subject to the following provisions, the arbitration shall be conducted in accordance with the rules of the American Arbitration Association then in
effect. Any award entered by the arbitrators shall be final, binding and nonappealable and judgment may be entered thereon by either party in accordance with applicable law in any court of competent jurisdiction. This arbitration provision shall be
specifically enforceable
  
 Notwithstanding the preceding paragraph, (i) the
parties agree that the provisions relating to confidentiality, work product, non-competition, and non-solicitation (the “Covenants”) have been specifically negotiated by sophisticated commercial parties and agree that all such
provisions are reasonable under the circumstances of the activities contemplated by this Agreement, (ii) the Executive acknowledges and agrees that the Covenants are reasonable in light of all of the circumstances, are sufficiently limited to
protect the legitimate interests of the Company and its affiliates, impose no undue hardship on the Executive, and are not injurious to the public, (iii) the Executive further acknowledges and agrees that the Executive’s breach of the
provisions of the Covenants will cause the Company irreparable harm, which cannot be adequately compensated by money damages, and that if the Company elects to prevent the Executive from breaching such provisions by obtaining an injunction against
the Executive, there is a reasonable probability of the Company’s eventual success on the merits, and (iv) the Executive consents and agrees that if the Executive commits any such breach or threatens to commit any breach, the Company shall be
entitled to temporary and permanent injunctive relief from a court of competent jurisdiction, without posting any bond or other security and without the necessity of proof of actual damage, in addition to, and not in lieu of, such other remedies as
may be available to the Company for such breach, including the recovery of money damages. In the event that the Covenants shall be determined by any court of competent jurisdiction to be unenforceable by reason of their extending for too great a
period of time or over too great a geographical area or by reason of their being too extensive in any other respect, they shall be interpreted to extend only over the maximum period of time for which they may be enforceable and/or over the maximum
geographical area as to which they may be enforceable and/or to the maximum extent in all other respects as to which they may be enforceable, all as determined by such court in such action.

 By signing below, the parties agree that this term sheet will be binding upon the parties, will take
effect on the Closing Date, and will as of such date supersede any other employment, severance, change of control or related agreements between the undersigned executive and the Company and its affiliates. In the event that the Merger Agreement is
terminated prior to the occurrence of a Closing Date, this term sheet shall become null and void and of no effect. 
  

									
	Ira Glazer	 		 	Wire Rope Corporation of America, Inc.
				
	/s/ Ira Glazer	 		 	By:	 	/s/ David T. Guilfoyle
		 		 		 	Name:

 Date: February         , 2007 

[Signature Page for the Employment Term Sheet with Ira Glazer] 

 Exhibit A 
 CEO Bonus Plan 
  

	Purpose:	To structure an incentive plan that aligns the interests of the CEO; the principal shareholders; and the relevant stakeholders of the company toward achieving
optimum results for the respective constituents. Objectives (set annually by the Board of Directors; and, consistent with the investment thesis developed by Paine & Partners, LLC (“Paine & Partners”, f/k/a Fox Paine) in
its 2006 acquisition of WRCA) will consist of: (i) attainment of annual budgeted EBITDA results audited annually; (ii) achievement of certain business objectives mutually established by the Board of Directors and the CEO for the respective
fiscal year; and, (iii) the Board’s discretionary assessment of the CEO’s leadership impact on the business; on its managers and employees; and, on its future growth. 

Structure; measurements; and application: 
 The bonus plan, exclusively structured for the CEO, is designed to pay a bonus of $750,000 for achievement of 100% of the budgeted EBITDA; successful completion of the key objectives established for the
fiscal year; and, the Board’s judgment that the CEO exhibited the leadership and maintained the ethical standards representative of WireCo WorldGroup Inc.’s (f/k/a Wire Rope Corporation of America, Inc., WRCA) business goals and
objectives. If the company exceeds budgeted EBITDA targets by 10%, the bonus plan payment has the potential to double payments to the CEO, reaching a maximum of $1,500,000. 
 Three bonus factors contribute to the total payout in the following relationship: 
  

	 	i.)	Numerical measurement based on the audited EBITDA contributes 75% of the annual bonus potential; 

 

	 	ii.)	Achievement of key objectives for the fiscal year contributes 12.5% of the annual bonus potential; and 

 

	 	iii.)	The Board’s assessment of the CEO’s “non-objective performance” contributes the other 12.5% of the annual bonus potential. 

Range of bonus potential: 
  

	 	i.)	The minimum performance by the company in order for any bonus payment to be made requires achievement of 90% of the budgeted EBITDA for the fiscal year.

 At this point, the starting minimum bonus target would be at $50,000. 

 

	 	ii.)	As the EBITDA approaches the budgeted EBITDA (between 90% to 100%) the bonus target potential would increase arithmetically (based on interpolation, as described below)
from $50,000 to $750,000. 

	 	iii.)	The bonus potential will continue to increase arithmetically (based on interpolation, as described below) until it reaches a maximum of $1,500,000 which is achieved
when the EBITDA reaches 110% of the budgeted EBITDA for the fiscal year. 

 Calculation of Bonus: 

The actual calculations for the cash payout to the CEO will be determined by the following: 

 

	 	i.)	 The cash portion due strictly to attainment of financial goals will equal 75% of the “Performance-Based Amount,” which will be determined as
follows: If actual EBITDA is 90% of budgeted EBITDA, the Performance-Based Amount shall equal $50,000; if actual EBITDA is between 90% and 100% of budgeted EBITDA, the Performance-Based Amount shall equal (x) $50,000 plus (y) the product
of (i) the number of percentage points by which actual EBITDA exceeds 90% (rounded to the nearest 10th of a point) times (ii) $70,000; if actual EBITDA is 100% of budgeted EBITDA, the Performance-Based Amount shall equal $750,000; if actual EBITDA is exceeds 100% of budgeted EBITDA, the
Performance-Based Amount shall equal (x) $750,000 plus (y) the product of (i) the number of percentage points by which actual EBITDA exceeds 100% (rounded to the nearest 10th of a point) times (ii) $75,000 (provided that the Performance-Based Amount shall be capped at $1,500,000); plus,

  

	 	ii.)	An additional cash component shall be based on Board’s performance review of CEO’s accomplishments versus planned objectives. The expectation is that this
amount will equal 12.5% of the Performance-Based Amount, but the Board has the discretion to adjust the amount upward or downward based on its assessment of the CEO’s accomplishments in respect of key objectives. And, finally;

  

	 	iii.)	An additional cash component shall be based on Board’s subjective evaluations of the CEO’s leadership impact during the applicable fiscal year. The
expectation is that this amount will equal 12.5% of the Performance-Based Amount, but the Board has the discretion to adjust the amount upward or downward based on its assessment of the CEO’s intangible/subjective achievements.

 The sum of these three cash payouts would constitute the CEO’s annual performance based bonus. In no case
would the CEO’s bonus exceed the maximum payout level of $1,500,000 in any fiscal year. 

 Bonus Calculation Examples: 
 Fiscal 2007 (WRCA’s first full year performance under Paine & Partner’s ownership) will be the greater of (i) the annual budgeted EBITDA as proposed by management and accepted by
the Board of Directors and (ii) $76 million (including 51% of the Chinese JV’s EBITDA). This bonus calculation example uses Paine & Partners acquisition assumption of $76 million to model the bonus payout scale. Subsequent
year’s assumptions will be developed in concert between the Board and the management team. 
  

													
	FY 2007	  	Minimum
Performance	 	  	Budgeted
Target	 	  	Maximum
Performance	 
	 EBITDA
	  	$	68 MM	  	  	$	76 MM	  	  	$	84 MM	  
	 Performance-Based Amount
	  	$	50,000	  	  	$	750,000	  	  	$	1,500,000	  

 Bonus Calculation Model: 
 FY 2007 Budgeted EBITDA = $76 million 
  

																							
	 	 	 	 	 	  	 	 	  	Bonus Payout Components	 
	% of
Budgeted
EBITDA	 	 	Actual
EBITDA	 	  	Performance-
Based
Amount	 	  	75%
EBITDA
Controlled	 	  	12.5%
Objective
Determination	 	  	12.5%
Subjective
Determination	 
	 	90	% 	 	$	68.4	  	  	$	50,000	  	  	$	37,500	  	  	$	6,250	  	  	$	6,250	  
	 	91	% 	 	 	69.2	  	  	 	120,000	  	  	 	90,000	  	  	 	15,000	  	  	 	15,000	  
	 	92	% 	 	 	69.9	  	  	 	190,000	  	  	 	142,500	  	  	 	23,750	  	  	 	23,750	  
	 	93	% 	 	 	70.7	  	  	 	260,000	  	  	 	195,000	  	  	 	32,500	  	  	 	32,500	  
	 	94	% 	 	 	71.4	  	  	 	330,000	  	  	 	247,500	  	  	 	41,250	  	  	 	41,250	  
	 	95	% 	 	 	72.2	  	  	 	400,000	  	  	 	300,000	  	  	 	50,000	  	  	 	50,000	  
	 	96	% 	 	 	73.0	  	  	 	470,000	  	  	 	352,500	  	  	 	58,750	  	  	 	58,750	  
	 	97	% 	 	 	73.7	  	  	 	540,000	  	  	 	405,000	  	  	 	67,500	  	  	 	67,500	  
	 	98	% 	 	 	74.5	  	  	 	610,000	  	  	 	457,500	  	  	 	76,250	  	  	 	76,250	  
	 	99	% 	 	 	75.2	  	  	 	680,000	  	  	 	510,000	  	  	 	85,000	  	  	 	85,000	  
	 	100	% 	 	$	76.0	  	  	$	750,000	  	  	$	562,500	  	  	$	93,750	  	  	$	93,750	  
	 	101	% 	 	 	76.8	  	  	 	825,000	  	  	 	618,750	  	  	 	103,125	  	  	 	103,125	  
	 	102	% 	 	 	77.5	  	  	 	900,000	  	  	 	675,000	  	  	 	112,500	  	  	 	112,500	  
	 	103	% 	 	 	78.3	  	  	 	975,000	  	  	 	731,250	  	  	 	121,875	  	  	 	121,875	  
	 	104	% 	 	 	79.0	  	  	 	1,050,000	  	  	 	787,500	  	  	 	131,250	  	  	 	131,250	  
	 	105	% 	 	 	79.8	  	  	 	1,125,000	  	  	 	843,750	  	  	 	140,625	  	  	 	140,625	  
	 	106	% 	 	 	80.6	  	  	 	1,200,000	  	  	 	900,000	  	  	 	150,000	  	  	 	150,000	  
	 	107	% 	 	 	81.3	  	  	 	1,275,000	  	  	 	956,250	  	  	 	159,375	  	  	 	159,375	  
	 	108	% 	 	 	82.1	  	  	 	1,350,000	  	  	 	1,012,500	  	  	 	168,750	  	  	 	168,750	  
	 	109	% 	 	 	82.8	  	  	 	1,425,000	  	  	 	1,068,750	  	  	 	178,125	  	  	 	178,125	  
	 	110	% 	 	$	83.6	  	  	$	1,500,000	  	  	$	1,125,000	  	  	$	187,500	  	  	$	187,500

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