Document:

<PAGE>   1
                                                                     EXHIBIT 4.b

                                RIGHTS AGREEMENT

                                   dated as of

                                December 6, 1995

                                     between

                                Masco Corporation

                                       and

                              The Bank of New York,

                                 as Rights Agent

<PAGE>   2

                       TABLE OF CONTENTS [1]

<TABLE>
<CAPTION>
                                                                      Page
                                                                      ----
<S>                                                                   <C>
Section  1.    Definitions ..........................................   1

Section  2.    Appointment of Rights Agent ..........................   5

Section  3.    Issue of Right Certificates ..........................   5

Section  4.    Form of Right Certificates ...........................   6

Section  5.    Countersignature and Registration ....................   7

Section  6.    Transfer and Exchange of Right
                  Certificates; Mutilated, Destroyed,
                  Lost or Stolen Right Certificates .................   8

Section  7.    Exercise of Rights; Purchase Price;
                  Expiration Date of Rights .........................   9

Section  8.    Cancellation and Destruction of Right
                  Certificates ......................................  11

Section  9.    Reservation and Availability of
                  Capital Stock .....................................  11

Section 10.    Preferred Stock Record Date ..........................  12

Section 11.    Adjustment of Purchase Price,
                  Number and Kind of Shares or Number
                  of Rights .........................................  13

Section 12.    Certificate of Adjusted Purchase
                  Price or Number of Shares .........................  22

Section 13.    Consolidation, Merger or Sale or
                  Transfer of Assets or Earning Power ...............  23

Section 14.    Fractional Rights and Fractional
                  Shares ............................................  25

Section 15.    Rights of Action .....................................  27

Section 16.    Agreement of Right Holders ...........................  27
</TABLE>

     [1]  The Table of Contents is not a part of this Agreement.

<PAGE>   3

<TABLE>
<CAPTION>
                                                                      Page
                                                                      ----
<S>                                                                   <C>
Section 17.    Right Certificate Holder Not Deemed
                  a Stockholder ....................................   28

Section 18.    Concerning the Rights Agent .........................   28

Section 19.    Merger or Consolidation or Change of
                  Name of Rights Agent .............................   29

Section 20.    Duties of Rights Agent ..............................   30

Section 21.    Change of Rights Agent ..............................   32

Section 22.    Issuance of New Right Certificates ..................   33

Section 23.    Redemption ..........................................   33

Section 24.    Exchange ............................................   34

Section 25.    Notice of Proposed Actions ..........................   35

Section 26.    Notices .............................................   36

Section 27.    Supplements and Amendments ..........................   37

Section 28.    Successors ..........................................   37

Section 29.    Determinations and Actions
                  by the Board of Directors, etc. ..................   38

Section 30.    Benefits of this Agreement ..........................   38

Section 31.    Severability ........................................   38

Section 32.    Governing Law .......................................   39

Section 33.    Counterparts ........................................   39

Section 34.    Descriptive Headings ................................   39
</TABLE>

                                       ii

<PAGE>   4

Exhibit A  -   Form of Certificate of Designation
                  of Preferred Stock

Exhibit B  -   Form of Right Certificate

Exhibit C  -   Summary Description of the
                  Stockholder Rights Plan

                                       iii

<PAGE>   5

                                RIGHTS AGREEMENT

         AGREEMENT dated as of December 6, 1995, between Masco Corporation, a
Delaware corporation (the "Company"), and The Bank of New York, as Rights Agent
(the "Rights Agent"),

                               W I T N E S S E T H

         WHEREAS, on December 6, 1995 the Board of Directors of the Company
authorized and declared a dividend of one preferred stock purchase right (a
"Right") for each share of Common Stock (as hereinafter defined) outstanding at
the close of business on December 18, 1995 (the "Record Date") and has
authorized the issuance, upon the terms and subject to the conditions
hereinafter set forth, of one Right in respect of each share of Common Stock
issued after the Record Date, each Right representing the right to purchase,
upon the terms and subject to the conditions hereinafter set forth, one
one-thousandth of a share of Preferred Stock (as hereinafter defined);

         NOW, THEREFORE, the parties hereto agree as follows:

         Section 1. Definitions. The following terms, as used herein, have the
following meanings:

          "Acquiring Person" means any Person who, together with all Affiliates
     and Associates of such Person, shall be the Beneficial Owner of 15% or more
     of the shares of Common Stock then outstanding, but shall not include the
     Company, any of its Subsidiaries, any employee benefit plan of the Company
     or any of its Subsidiaries or any Person organized, appointed or
     established by the Company or any of its Subsidiaries for or pursuant to
     the terms of any such plan.

          "Affiliate" and "Associate" have the respective meanings ascribed to
     such terms in Rule 12b-2 under the Exchange Act as in effect on the date
     hereof.

          A Person shall be deemed the "Beneficial Owner" of, and shall be
     deemed to "beneficially own", any securities:

               (a) which such Person or any of its Affiliates or Associates,
          directly or indirectly, beneficially owns (as determined pursuant to
          Rule 13d-3 under the Exchange Act as in effect on the date hereof);

               (b) which such Person or any of its Affiliates or  Associates,
          directly or indirectly, has

                                       1
<PAGE>   6

                    (i) the right to acquire (whether such right is exercisable
               immediately or only upon the occurrence of certain events or the
               passage of time or both) pursuant to any agreement, arrangement
               or understanding (whether or not in writing) or otherwise (other
               than pursuant to the Rights); provided that a Person shall not be
               deemed the "Beneficial Owner" of or to "beneficially own"
               securities tendered pursuant to a tender or exchange offer made
               by or on behalf of such Person or any of its Affiliates or
               Associates until such tendered securities are accepted for
               payment or exchange; or

                    (ii) the right to vote (whether such right is exercisable
               immediately or only upon the occurrence of certain events or the
               passage of time or both) pursuant to any agreement, arrangement
               or understanding (whether or not in writing) or otherwise;
               provided that a Person shall not be deemed the "Beneficial Owner"
               of or to "beneficially own" any security under this clause (ii)
               as a result of an agreement, arrangement or understanding to vote
               such security if such agreement, arrangement or understanding (A)
               arises solely from a revocable proxy or consent given in response
               to a public proxy or consent solicitation made pursuant to the
               applicable rules and regulations under the Exchange Act and (B)
               is not also then reportable by such Person on Schedule 13D under
               the Exchange Act (or any comparable or successor report); or

               (c) which are beneficially owned, directly or indirectly, by any
          other Person (or any Affiliate or Associate thereof) with which such
          Person or any of its Affiliates or Associates has any agreement,
          arrangement or understanding (whether or not in writing) for the
          purpose of acquiring, holding, voting (except pursuant to a revocable
          proxy as described in subparagraph (b)(ii) immediately above) or
          disposing of any such securities.

          "Business Day" means any day other than a Saturday, Sunday or a day on
     which banking institutions in the State of New York are authorized or
     obligated by law or executive order to close.

          "Close of business" on any given date means 5:00 P.M., New York City
     time, on such date; provided that if such date is not a Business Day "close
     of business" means 5:00 P.M., New York City time, on the next succeeding
     Business Day.

          "Common Stock" means the Common Stock, par value $1.00 per share, of
     the Company, except that, when used with reference to any Person other than
     the Company, "Common Stock" means the capital stock of such Person with the
     greatest voting power, or the equity securities or other equity interest
     having power to control or direct the management, of such Person.

          "Continuing Director" means any member of the Board of Directors of
     the Company, while such Person is a member of the Board, who is not an
     Acquiring Person or an Affiliate or Associate of an Acquiring Person or a
     representative or nominee of an Acquiring

                                       2

<PAGE>   7

     Person or of any such Affiliate or Associate and either (a) was a member of
     the Board immediately prior to the time any Person becomes an Acquiring
     Person or (b) subsequently becomes a member of the Board, if such Person's
     nomination for election or election to the Board is recommended or approved
     by a majority of the Continuing Directors.

          "Distribution Date" means the earlier of (a) the close of business on
     the tenth day (or such later day as may be designated by action of a
     majority of the Continuing Directors) after the Stock Acquisition Date and
     (b) the close of business on the tenth Business Day (or such later day as
     may be designated by action of a majority of the Continuing Directors)
     after the date of the commencement of a tender or exchange offer by any
     Person if, upon consummation thereof, such Person would be an Acquiring
     Person.

          "Exchange Act" means the Securities Exchange Act of 1934, as amended.

          "Expiration Date" means the earlier of (a) the Final Expiration Date
     and (b) the time at which all Rights are redeemed as provided in Section 23
     or exchanged as provided in Section 24.

          "Final Expiration Date" means the close of business on December 6,
     2005.

          "Person" means an individual, corporation, partnership, association,
     trust or any other entity or organization.

          "Preferred Stock" means the Series A Participating Cumulative
     Preferred Stock, par value 1.00 per share, of the Company, having the terms
     set forth in the form of certificate of designation attached hereto as
     Exhibit A.

          "Purchase Price" means the price (subject to adjustment as provided
     herein) at which a holder of a Right may purchase one one-thousandth of a
     share of Preferred Stock (subject to adjustment as provided herein) upon
     exercise of a Right, which price shall initially be $100.00.

          "Section 11(a)(ii) Event" means any event described in the first
     clause of Section 11(a)(ii).

          "Section 13 Event" means any event described in clauses (x), (y) or
     (z) of Section 13(a).

          "Securities Act" means the Securities Act of 1933, as amended.

          "Stock Acquisition Date" means the date of the first public
     announcement (including the filing of a report on Schedule 13D under the
     Exchange Act (or any comparable or successor report)) by the Company or an
     Acquiring Person indicating that an Acquiring Person has become such.

                                       3

<PAGE>   8

          "Subsidiary" of any Person means any other Person of which securities
     or other ownership interests having ordinary voting power, in the absence
     of contingencies, to elect a majority of the board of directors or other
     Persons performing similar functions are at the time directly or indirectly
     owned by such first Person.

          "Trading Day" means a day on which the principal national securities
     exchange on which the shares of Common Stock are listed or admitted to
     trading is open for the transaction of business or, if the shares of Common
     Stock are not listed or admitted to trading on any national securities
     exchange, a Business Day.

          "Triggering Event" means any Section 11(a)(ii) Event or any Section 13
     Event.

         Section 2. Appointment of Rights Agent. The Company hereby appoints the
Rights Agent to act as agent for the Company and the holders of the Rights in
accordance with the terms and conditions hereof, and the Rights Agent hereby
accepts such appointment. The Company may from time to time appoint such
Co-Rights Agents as it may deem necessary or desirable upon ten (10) days' prior
written notice to the Rights Agent. The Rights Agent shall have no duty to
supervise, and shall in no event be liable for, the acts or omissions of any
such Co-Rights Agent. If the Company appoints one or more Co-Rights Agents, the
respective duties of the Rights Agent and any Co-Rights Agents shall be as the
Company shall determine.

         Section 3. Issue of Right Certificates. (a) Prior to the Distribution
Date, (i) the Rights will be evidenced by the certificates for the Common Stock
and not by separate Right Certificates (as hereinafter defined) and the
registered holders of the Common Stock shall be deemed to be the registered
holders of the associated Rights, and (ii) the Rights will be transferable only
in connection with the transfer of the underlying shares of Common Stock. As
soon as practicable after the Record Date, the Company will send a summary of
the Rights substantially in the form of Exhibit C hereto, by first-class,
postage prepaid mail, to each record holder of the Common Stock as of the close
of business on the Record Date at the address of such holder shown on the
records of the Company.

         (b) As soon as practicable after the Company has notified the Rights
Agent of the occurrence of the Distribution Date, the Rights Agent will send, by
first-class, insured, postage prepaid mail, to each record holder of the Common
Stock as of the close of business on the Distribution Date, at the address of
such holder shown on the records of the Company, one or more Right Certificates
evidencing one Right (subject to adjustment as provided herein) for each share
of Common Stock so held. If an adjustment in the number of Rights per share of
Common Stock has been made pursuant to Section 11(p), the Company shall, at the
time of distribution of the Right Certificates, make the necessary and
appropriate rounding adjustments (in accordance with Section 14(a)) so that
Right Certificates representing only whole numbers of Rights are distributed and
cash is paid in lieu of any fractional Rights. From and after the Distribution
Date, the Rights will be evidenced solely by such Right Certificates.

                                       4

<PAGE>   9

         (c) Rights shall be issued in respect of all shares of Common Stock
outstanding as of the Record Date or issued (on original issuance or out of
treasury) after the Record Date but prior to the earlier of the Distribution
Date and the Expiration Date. In addition, in connection with the issuance or
sale of shares of Common Stock following the Distribution Date and prior to the
Expiration Date, the Company (i) shall, with respect to shares of Common Stock
so issued or sold (x) pursuant to the exercise of stock options or under any
employee plan or arrangement or (y) upon the exercise, conversion or exchange of
other securities issued by the Company prior to the Distribution Date and (ii)
may, in any other case, if deemed necessary or appropriate by the Board of
Directors of the Company, issue Right Certificates representing the appropriate
number of Rights in connection with such issuance or sale; provided that no such
Right Certificate shall be issued if, and to the extent that, (i) the Company
shall be advised by counsel that such issuance would create a significant risk
of material adverse tax consequences to the Company or the Person to whom such
Right Certificate would be issued or (ii) appropriate adjustment shall otherwise
have been made in lieu of the issuance thereof.

         (d) Certificates for the Common Stock issued after the Record Date but
prior to the earlier of the Distribution Date and the Expiration Date shall have
impressed on, printed on, written on or otherwise affixed to them the following
legend:

     This certificate also evidences certain Rights as set forth in a Rights
     Agreement between Masco Corporation and The Bank of New York, dated as of
     December 6, 1995 (the "Rights Agreement"), the terms of which are hereby
     incorporated herein by reference and a copy of which is on file at the
     principal executive offices of the Company. The Company will mail to the
     holder of this certificate a copy of the Rights Agreement without charge
     promptly after receipt of a written request therefor. Under certain
     circumstances, as set forth in the Rights Agreement, such Rights may be
     evidenced by separate certificates and no longer be evidenced by this
     certificate, may be redeemed or exchanged or may expire. As set forth in
     the Rights Agreement, Rights issued to, or held by, any Person who is, was
     or becomes an Acquiring Person or an Affiliate or Associate thereof (as
     such terms are defined in the Rights Agreement), whether currently held by
     or on behalf of such Person or by any subsequent holder, may be null and
     void.

         Section 4. Form of Right Certificates. (a) The certificates evidencing
the Rights (and the forms of assignment, election to purchase and certificates
to be printed on the reverse thereof) (the "Right Certificates") shall be
substantially in the form of Exhibit B hereto and may have such marks of
identification or designation and such legends, summaries or endorsements
printed thereon as the Company may deem appropriate and as are not inconsistent
with the provisions of this Agreement, or as may be required to comply with any
applicable law, rule or regulation or with any rule or regulation of any stock
exchange on which the Rights may from time to time be listed, or to conform to
usage. The Right Certificates shall be in a machine printable format and in a
form reasonably satisfactory to the Rights Agent. The Right Certificates,
whenever distributed, shall be dated as of the Record Date and shall show the
date of countersignature.

                                       5

<PAGE>   10

         (b) Any Right Certificate representing Rights beneficially owned by any
Person referred to in clauses (i), (ii) or (iii) of the first sentence of
Section 7(d) shall (to the extent feasible) contain the following legend:

     The Rights represented by this Right Certificate are or were beneficially
     owned by a Person who was or became an Acquiring Person or an Affiliate or
     Associate of an Acquiring Person (as such terms are defined in the Rights
     Agreement). This Right Certificate and the Rights represented hereby may be
     or may become null and void in the circumstances specified in Section 7(d)
     of such Agreement.

         Section 5. Countersignature and Registration. (a) The Right
Certificates shall be executed on behalf of the Company by its Chairman of the
Board, its President or any Vice President, either manually or by facsimile
signature, and shall have affixed thereto the Company's seal or a facsimile
thereof which shall be attested by the Secretary or an Assistant Secretary of
the Company, either manually or by facsimile signature. The Right Certificates
shall be manually countersigned by an authorized signatory of the Rights Agent
and shall not be valid for any purpose unless so countersigned. In case any
officer of the Company whose manual or facsimile signature is affixed to the
Right Certificates shall cease to be such officer of the Company before
countersignature by the Rights Agent and issuance and delivery by the Company,
such Right Certificates may, nevertheless, be countersigned by the Rights Agent
and issued and delivered with the same force and effect as though the Person who
signed such Right Certificates had not ceased to be such officer of the Company.
Any Right Certificate may be signed on behalf of the Company by any Person who,
at the actual date of the execution of such Right Certificate, shall be a proper
officer of the Company to sign such Right Certificate, although at the date of
the execution of this Rights Agreement any such Person was not such an officer.

         (b) Following the Distribution Date, the Rights Agent will keep or
cause to be kept, at its principal office or offices designated as the place for
surrender of Right Certificates upon exercise, transfer or exchange, books for
registration and transfer of the Right Certificates. Such books shall show with
respect to each Right Certificate the name and address of the registered holder
thereof, the number of Rights indicated on the certificate and the certificate
number.

         Section 6. Transfer and Exchange of Right Certificates; Mutilated,
Destroyed, Lost or Stolen Right Certificates. (a) At any time after the
Distribution Date and prior to the Expiration Date, any Right Certificate or
Certificates may, upon the terms and subject to the conditions set forth below
in this Section 6(a), be transferred or exchanged for another Right Certificate
or Certificates evidencing a like number of Rights as the Right Certificate or
Certificates surrendered. Any registered holder desiring to transfer or exchange
any Right Certificate or Certificates shall surrender such Right Certificate or
Certificates (with, in the case of a transfer, the form of assignment and
certificate on the reverse side thereof duly executed) to the Rights Agent at
the principal office or offices of the Rights Agent designated for such purpose.
Neither the Rights Agent nor the Company shall be obligated to take any action
whatsoever with respect to the transfer of any such surrendered Right
Certificate or Certificates until the registered holder of the Rights has

                                       6

<PAGE>   11

complied with the requirements of Section 7(e). Upon satisfaction of the
foregoing requirements, the Rights Agent shall, subject to Sections 4(b), 7(d),
14 and 24, countersign and deliver to the Person entitled thereto a Right
Certificate or Certificates as so requested. The Company may require payment by
the holders of Rights of a sum sufficient to cover any transfer tax or other
governmental charge that may be imposed in connection with any transfer or
exchange of any Right Certificate or Certificates.

         (b) Upon receipt by the Company and the Rights Agent of evidence
reasonably satisfactory to them of the loss, theft, destruction or mutilation of
a Right Certificate, and, in case of loss, theft or destruction, of indemnity or
security reasonably satisfactory to them, and, at the Company's request,
reimbursement to the Company and the Rights Agent of all reasonable expenses
incidental thereto, and upon surrender to the Rights Agent and cancellation of
the Right Certificate if mutilated, the Company will issue and deliver a new
Right Certificate of like tenor to the Rights Agent for countersignature and
delivery to the registered owner in lieu of the Right Certificate so lost,
stolen, destroyed or mutilated.

         Section 7. Exercise of Rights; Purchase Price; Expiration Date of
Rights. (a) The registered holder of any Right Certificate may exercise the
Rights evidenced thereby (except as otherwise provided herein, including
Sections 7(d) and (e), 9(c), 11(a) and 24) in whole or in part at any time after
the Distribution Date and prior to the Expiration Date upon surrender of the
Right Certificate, with the form of election to purchase and the certificate on
the reverse side thereof duly executed, to the Rights Agent at the principal
office or offices of the Rights Agent designated for such purpose, together with
payment (in lawful money of the United States of America by certified check or
bank draft payable to the order of the Company) of the aggregate Purchase Price
with respect to the Rights then to be exercised and an amount equal to any
applicable transfer tax or other governmental charge.

         (b) Upon satisfaction of the requirements of Section 7(a) and subject
to Section 20(k), the Rights Agent shall thereupon promptly (i)(A) requisition
from any transfer agent of the Preferred Stock (or make available, if the Rights
Agent is the transfer agent therefor) certificates for the total number of one
one-thousandths of a share of Preferred Stock to be purchased (and the Company
hereby irrevocably authorizes its transfer agent to comply with all such
requests) or (B) if the Company shall have elected to deposit the shares of
Preferred Stock issuable upon exercise of the Rights with a depositary agent,
requisition from the depositary agent depositary receipts representing such
number of one one-thousandths of a share of Preferred Stock as are to be
purchased (in which case certificates for the shares of Preferred Stock
represented by such receipts shall be deposited by the transfer agent with the
depositary agent) and the Company will direct the depositary agent to comply
with such request, (ii) requisition from the Company the amount of cash, if any,
to be paid in lieu of issuance of fractional shares in accordance with Section
14 and (iii) after receipt of such certificates or depositary receipts and cash,
if any, cause the same to be delivered to or upon the order of the registered
holder of such Right Certificate (with such certificates or receipts registered
in such name or names as may be designated by such holder). If the Company is
obligated to deliver Common Stock, other securities or assets pursuant to this
Agreement, the Company will make all arrangements necessary so that such other
securities and assets are available for delivery by the Rights Agent, if and
when appropriate.

                                       7

<PAGE>   12

         (c) In case the registered holder of any Right Certificate shall
exercise less than all the Rights evidenced thereby, a new Right Certificate
evidencing the number of Rights remaining unexercised shall be issued by the
Rights Agent and delivered to, or upon the order of, the registered holder of
such Right Certificate, registered in such name or names as may be designated by
such holder, subject to the provisions of Section 14.

         (d) Notwithstanding anything in this Agreement to the contrary, from
and after the first occurrence of a Section 11(a)(ii) Event, any Rights
beneficially owned by (i) an Acquiring Person or an Associate or Affiliate of an
Acquiring Person, (ii) a transferee of an Acquiring Person (or of any such
Associate or Affiliate) who becomes a transferee after the Acquiring Person
becomes such or (iii) a transferee of an Acquiring Person (or of any such
Associate or Affiliate) who becomes a transferee prior to or concurrently with
the Acquiring Person becoming such and receives such Rights pursuant to either
(A) a transfer (whether or not for consideration) from the Acquiring Person (or
any such Associate or Affiliate) to holders of equity interests in such
Acquiring Person (or in any such Associate or Affiliate) or to any Person with
whom the Acquiring Person (or any such Associate or Affiliate) has any
continuing agreement, arrangement or understanding regarding the transferred
Rights or (B) a transfer which the Continuing Directors have determined is part
of a plan, arrangement or understanding which has as a primary purpose or effect
the avoidance of this Section 7(d) shall become null and void without any
further action, and no holder of such Rights shall have any rights whatsoever
with respect to such Rights, whether under any provision of this Agreement or
otherwise. The Company shall use all reasonable efforts to insure that the
provisions of this Section 7(d) and Section 4(b) are complied with, but shall
have no liability to any holder of Right Certificates or other Person as a
result of its failure to make any determinations with respect to an Acquiring
Person or its Affiliates and Associates or any transferee of any of them
hereunder.

         (e) Notwithstanding anything in this Agreement to the contrary, neither
the Rights Agent nor the Company shall be obligated to undertake any action with
respect to a registered holder of Rights upon the occurrence of any purported
transfer pursuant to Section 6 or exercise pursuant to this Section 7 unless
such registered holder (i) shall have completed and signed the certificate
contained in the form of assignment or election to purchase, as the case may be,
set forth on the reverse side of the Right Certificate surrendered for such
transfer or exercise, as the case may be, (ii) shall not have indicated an
affirmative response to clause 1 or 2 thereof and (iii) shall have provided such
additional evidence of the identity of the Beneficial Owner (or former
Beneficial Owner) or Affiliates or Associates thereof as the Company shall
reasonably request.

         Section 8. Cancellation and Destruction of Right Certificates. All
Right Certificates surrendered for exercise, transfer or exchange shall, if
surrendered to the Company or to any of its agents, be delivered to the Rights
Agent for cancellation or in canceled form, or, if surrendered to the Rights
Agent, shall be canceled by it, and no Right Certificates shall be issued in
lieu thereof except as expressly permitted by this Agreement. The Company shall
deliver to the Rights Agent for cancellation, and the Rights Agent shall cancel,
any other Right Certificate purchased or acquired by the Company otherwise than
upon the

                                       8

<PAGE>   13

exercise thereof. The Rights Agent shall deliver all canceled Right Certificates
to the Company, or shall, at the written request of the Company, destroy such
canceled Right Certificates, and in such case shall deliver a certificate of
destruction thereof to the Company.

         Section 9. Reservation and Availability of Capital Stock. (a) The
Company covenants and agrees that it will cause to be reserved and kept
available a number of shares of Preferred Stock which are authorized but not
outstanding or otherwise reserved for issuance sufficient to permit the exercise
in full of all outstanding Rights as provided in this Agreement.

         (b) So long as the Preferred Stock issuable upon the exercise of Rights
may be listed on any national securities exchange, the Company shall use its
best efforts to cause, from and after such time as the Rights become
exercisable, all securities reserved for such issuance to be listed on any such
exchange upon official notice of issuance upon such exercise.

         (c) The Company shall use its best efforts (i) to file, as soon as
practicable following the earliest date after the occurrence of a Section
11(a)(ii) Event as of which the consideration to be delivered by the Company
upon exercise of the Rights has been determined in accordance with Section
11(a)(iii), or as soon as is required by law following the Distribution Date, as
the case may be, a registration statement under the Securities Act with respect
to the securities issuable upon exercise of the Rights, (ii) to cause such
registration statement to become effective as soon as practicable after such
filing and (iii) to cause such registration statement to remain effective (with
a prospectus at all times meeting the requirements of the Securities Act) until
the earlier of (A) the date as of which the Rights are no longer exercisable for
such securities and (B) the Expiration Date. The Company will also take such
action as may be appropriate under, or to ensure compliance with, the securities
or blue sky laws of the various states in connection with the exercisability of
the Rights. The Company may temporarily suspend, for a period of time not to
exceed 90 days after the date set forth in clause (i) of the first sentence of
this Section 9(c), the exercisability of the Rights in order to prepare and file
such registration statement and permit it to become effective. Upon any such
suspension, the Company shall issue a public announcement stating that the
exercisability of the Rights has been temporarily suspended, as well as a public
announcement at such time as the suspension is no longer in effect.
Notwithstanding any such provision of this Agreement to the contrary, the Rights
shall not be exercisable for securities in any jurisdiction if the requisite
qualification in such jurisdiction shall not have been obtained, such exercise
therefor shall not be permitted under applicable law or a registration statement
in respect of such securities shall not have been declared effective.

         (d) The Company covenants and agrees that it will take all such action
as may be necessary to insure that all one one-thousandths of a share of
Preferred Stock issuable upon exercise of Rights shall, at the time of delivery
of the certificates for such securities (subject to payment of the Purchase
Price), be duly and validly authorized and issued and fully paid and
nonassessable.

                                       9

<PAGE>   14

         (e) The Company further covenants and agrees that it will pay when due
and payable any and all federal and state transfer taxes and other governmental
charges which may be payable in respect of the issuance or delivery of the Right
Certificates and of any certificates for Preferred Stock upon the exercise of
Rights. The Company shall not, however, be required to pay any transfer tax or
other governmental charge which may be payable in respect of any transfer
involved in the issuance or delivery of any Right Certificates or of any
certificates for Preferred Stock to a Person other than the registered holder of
the applicable Right Certificate, and prior to any such transfer, issuance or
delivery any such tax or other governmental charge shall have been paid by the
holder of such Right Certificate or it shall have been established to the
Company's satisfaction that no such tax or other governmental charge is due.

         Section 10. Preferred Stock Record Date. Each Person (other than the
Company) in whose name any certificate for Preferred Stock is issued upon the
exercise of Rights shall for all purposes be deemed to have become the holder of
record of such Preferred Stock represented thereby on, and such certificate
shall be dated, the date upon which the Right Certificate evidencing such Rights
was duly surrendered and payment of the Purchase Price (and any transfer taxes
or other governmental charges) was made; provided that if the date of such
surrender and payment is a date upon which the transfer books of the Company
relating to the Preferred Stock are closed, such Person shall be deemed to have
become the record holder of such shares on, and such certificate shall be dated,
the next succeeding Business Day on which the applicable transfer books of the
Company are open. Prior to the exercise of the Rights evidenced thereby, the
holder of a Right Certificate shall not be entitled to any rights of a
stockholder of the Company with respect to shares for which the Rights shall be
exercisable, including the right to vote, to receive dividends or other
distributions or to exercise any preemptive rights, and shall not be entitled to
receive any notice of any proceedings of the Company except as provided herein.

         Section 11. Adjustment of Purchase Price, Number and Kind of Shares or
Number of Rights. (a)(i) If the Company shall at any time after the date of this
Agreement (A) pay a dividend on the Preferred Stock payable in shares of
Preferred Stock, (B) subdivide the outstanding Preferred Stock into a greater
number of shares, (C) combine the outstanding Preferred Stock into a smaller
number of shares or (D) issue any shares of its capital stock in a
reclassification of the Preferred Stock (including any such reclassification in
connection with a consolidation or merger involving the Company), the Purchase
Price in effect immediately prior to the record date for such dividend or of the
effective date of such subdivision, combination or reclassification, and the
number and kind of shares of Preferred Stock or other capital stock issuable on
such date shall be proportionately adjusted so that each holder of a Right shall
(except as otherwise provided herein, including Section 7(d)) thereafter be
entitled to receive, upon exercise thereof at the Purchase Price in effect
immediately prior to such date, the aggregate number and kind of shares of
Preferred Stock or other capital stock, as the case may be, which, if such Right
had been exercised immediately prior to such date and at a time when the
applicable transfer books of the Company were open, such holder would have been
entitled to receive upon such exercise and by virtue of such dividend,
subdivision, combination or reclassification. If an event occurs which requires
an adjustment under both this Section 11(a)(i) and Section 11(a)(ii), the
adjustment provided

                                       10

<PAGE>   15

for in this Section 11(a)(i) shall be in addition to, and shall be made prior
to, any adjustment required pursuant to Section 11(a)(ii).

         (ii) If any Person, alone or together with its Affiliates and
Associates, shall, at any time after the date of this Agreement, become an
Acquiring Person, then proper provision shall promptly be made so that each
holder of a Right shall (except as otherwise provided herein, including Section
7(d)) thereafter be entitled to receive, upon exercise thereof at the Purchase
Price in effect immediately prior to the first occurrence of a Section 11(a)(ii)
Event, in lieu of Preferred Stock, such number of duly authorized, validly
issued, fully paid and nonassessable shares of Common Stock of the Company (such
shares being referred to herein as the "Adjustment Shares") as shall be equal to
the result obtained by dividing

          (x) the product obtained by multiplying the Purchase Price in effect
     immediately prior to the first occurrence of a Section 11(a)(ii) Event by
     the number of one one-thousandths of a share of Preferred Stock for which a
     Right was exercisable immediately prior to such first occurrence (such
     product being thereafter referred to as the "Purchase Price" for each Right
     and for all purposes of this Agreement) by

          (y) 50% of the current market price (determined pursuant to Section
     11(d)(i)) per share of Common Stock on the date of such first occurrence;

provided that if the transaction that would otherwise give rise to the foregoing
adjustment is also subject to the provisions of Section 13, then only the
provisions of Section 13 shall apply and no adjustment shall be made pursuant to
this Section 11(a)(ii).

         (iii) If the number of shares of Common Stock which are authorized by
the Company's certificate of incorporation but not outstanding or reserved for
issuance other than upon exercise of the Rights is not sufficient to permit the
exercise in full of the Rights in accordance with Section 11(a)(ii), the Company
shall, with respect to each Right, make adequate provision to substitute for the
Adjustment Shares, upon payment of the Purchase Price then in effect, (A) (to
the extent available) Common Stock and then, (B) (to the extent available) other
equity securities of the Company which a majority of the Continuing Directors
has determined to be essentially equivalent to shares of Common Stock in respect
to dividend, liquidation and voting rights (such securities being referred to
herein as "common stock equivalents") and then, if necessary, (C) other equity
or debt securities of the Company, cash or other assets, a reduction in the
Purchase Price or any combination of the foregoing, having an aggregate value
(as determined by the Continuing Directors based upon the advice of a nationally
recognized investment banking firm selected by the Continuing Directors) equal
to the value of the Adjustment Shares; provided that (x) the Company may, and
(y) if the Company shall not have made adequate provision as required above to
deliver value within 30 days following the later of the first occurrence of a
Section 11(a)(ii) Event and the first date that the right to redeem the Rights
pursuant to Section 23 shall expire, then the Company shall be obligated to,
deliver, upon the surrender for exercise of a Right and without requiring
payment of the Purchase Price, (1) (to the extent available) Common Stock and
then (2) (to the extent available) common stock equivalents and then, if
necessary, (3) other equity or debt securities of

                                       11

<PAGE>   16

the Company, cash or other assets or any combination of the foregoing, having an
aggregate value (as determined by the Continuing Directors based upon the advice
of a nationally recognized investment banking firm selected by the Continuing
Directors) equal to the excess of the value of the Adjustment Shares over the
Purchase Price. If the Continuing Directors of the Company shall determine in
good faith that it is likely that sufficient additional shares of Common Stock
could be authorized for issuance upon exercise in full of the Rights, the 30 day
period set forth above (such period, as it may be extended, being referred to
herein as the "Substitution Period") may be extended to the extent necessary,
but not more than 90 days following the first occurrence of a Section 11(a)(ii)
Event, in order that the Company may seek stockholder approval for the
authorization of such additional shares. To the extent that the Company
determines that some action is to be taken pursuant to the first and/or second
sentence of this Section 11(a)(iii), the Company (X) shall provide, subject to
Section 7(d), that such action shall apply uniformly to all outstanding Rights
and (Y) may suspend the exercisability of the Rights until the expiration of the
Substitution Period in order to seek any authorization of additional shares
and/or to decide the appropriate form and value of any consideration to be
delivered as referred to in such first and/or second sentence. If any such
suspension occurs, the Company shall issue a public announcement stating that
the exercisability of the Rights has been temporarily suspended, as well as a
public announcement at such time as the suspension is no longer in effect. For
purposes of this Section 11(a)(iii), the value of the Common Stock shall be the
current market price per share of Common Stock (as determined pursuant to
Section 11(d)) on the later of the date of the first occurrence of a Section
11(a)(ii) Event and the first date that the right to redeem the Rights pursuant
to Section 23 shall expire; any common stock equivalent shall be deemed to have
the same value as the Common Stock on such date; and the value of other
securities or assets shall be determined pursuant to Section 11(d)(iii).

     (b) In case the Company shall fix a record date for the issuance of rights,
options or warrants to all holders of Preferred Stock entitling them to
subscribe for or purchase (for a period expiring within 45 calendar days after
such record date) Preferred Stock (or securities having the same rights,
privileges and preferences as the shares of Preferred Stock ("equivalent
preferred stock")) or securities convertible into or exercisable for Preferred
Stock (or equivalent preferred stock) at a price per share of Preferred Stock
(or equivalent preferred stock) (in each case, taking account of any conversion
or exercise price) less than the current market price (as determined pursuant to
Section 11(d)) per share of Preferred Stock on such record date, the Purchase
Price to be in effect after such record date shall be determined by multiplying
the Purchase Price in effect immediately prior to such date by a fraction, the
numerator of which shall be the number of shares of Preferred Stock outstanding
on such record date, plus the number of shares of Preferred Stock which the
aggregate price (taking account of any conversion or exercise price) of the
total number of shares of Preferred Stock (and/or equivalent preferred stock) so
to be offered would purchase at such current market price and the denominator of
which shall be the number of shares of Preferred Stock outstanding on such
record date plus the number of additional shares of Preferred Stock (and/or
equivalent preferred stock) so to be offered. In case such subscription price
may be paid by delivery of consideration part or all of which shall be in a form
other than cash, the value of such consideration shall be as determined in good
faith by the Board of Directors of the Company, whose

                                       12
<PAGE>   17

determination shall be described in a statement filed with the Rights Agent and
shall be conclusive for all purposes. Shares of Preferred Stock owned by or held
for the account of the Company shall not be deemed outstanding for the purpose
of any such computation. Such adjustment shall be made successively whenever
such a record date is fixed, and if such rights, options or warrants are not so
issued, the Purchase Price shall be adjusted to be the Purchase Price which
would then be in effect if such record date had not been fixed.

     (c) In case the Company shall fix a record date for the making of a
distribution to all holders of Preferred Stock (including any such distribution
made in connection with a consolidation or merger involving the Company) of
evidences of indebtedness, equity securities other than Preferred Stock, assets
(other than a regular periodic cash dividend out of the earnings or retained
earnings of the Company) or rights, options or warrants (excluding those
referred to in Section 11(b)), the Purchase Price to be in effect after such
record date shall be determined by multiplying the Purchase Price in effect
immediately prior to such record date by a fraction, the numerator of which
shall be the current market price (as determined pursuant to Section 11(d)) per
share of Preferred Stock on such record date, less the value (as determined
pursuant to Section 11(d)(iii)) of such evidences of indebtedness, equity
securities, assets, rights, options or warrants so to be distributed with
respect to one share of Preferred Stock and the denominator of which shall be
such current market price per share of Preferred Stock. Such adjustment shall be
made successively whenever such a record date is fixed, and if such distribution
is not so made, the Purchase Price shall be adjusted to be the Purchase Price
which would then be in effect if such record date had not been fixed.

     (d)(i) For the purpose of any computation hereunder other than computations
made pursuant to Section 11(a)(iii) or 14, the "current market price" per share
of Common Stock on any date shall be deemed to be the average of the daily
closing prices per share of such Common Stock for the 30 consecutive Trading
Days immediately prior to such date; for purposes of computations made pursuant
to Section 11(a)(iii), the "current market price" per share of Common Stock on
any date shall be deemed to be the average of the daily closing prices per share
of such Common Stock for the 10 consecutive Trading Days immediately following
such date; and for purposes of computations made pursuant to Section 14, the
"current market price" per share of Common Stock for any Trading Day shall be
deemed to be the closing price per share of Common Stock for such Trading Day;
provided that if the current market price per share of the Common Stock is
determined during a period following the announcement by the issuer of such
Common Stock of (A) a dividend or distribution on such Common Stock payable in
shares of such Common Stock or securities exercisable for or convertible into
shares of such Common Stock (other than the Rights), or (B) any subdivision,
combination or reclassification of such Common Stock, and prior to the
expiration of the requisite 30 Trading Day or 10 Trading Day period, as set
forth above, after the ex-dividend date for such dividend or distribution, or
the record date for such subdivision, combination or reclassification, then, and
in each such case, the "current market price" shall be properly adjusted to take
into account ex-dividend trading. The closing price for each day shall be the
last sale price, regular way, or, in case no such sale takes place on such day,
the average of the closing bid and asked prices, regular way, in either case as
reported in the principal consolidated transaction reporting system with respect
to securities listed or admitted to trading on the New York Stock Exchange or,

                                       13
<PAGE>   18

if the shares of Common Stock are not listed or admitted to trading on the New
York Stock Exchange, on the principal national securities exchange on which the
shares of Common Stock are listed or admitted to trading or, if the shares of
Common Stock are not listed or admitted to trading on any national securities
exchange, the last quoted price or, if not so quoted, the average of the high
bid and low asked prices in the over-the-counter market, as reported by the
National Association of Securities Dealers, Inc. Automated Quotation System
("NASDAQ") or such other system then in use or, if on any such date the shares
of Common Stock are not quoted by any such organization, the average of the
closing bid and asked prices as furnished by a professional market maker making
a market in the Common Stock selected by the Board of Directors of the Company,
or, if at the time of such selection there is an Acquiring Person, by a majority
of the Continuing Directors. If on any such date no market maker is making a
market in the Common Stock, the fair value of such shares on such date as
determined in good faith by the Board of Directors of the Company (or, if at the
time of such determination there is an Acquiring Person, by a majority of the
Continuing Directors) shall be used. If the Common Stock is not publicly held or
not so listed or traded, the "current market price" per share means the fair
value per share as determined in good faith by the Board of Directors of the
Company, or, if at the time of such determination there is an Acquiring Person,
by a majority of the Continuing Directors, or if there are no Continuing
Directors, by a nationally recognized investment banking firm selected by the
Board of Directors, which determination shall be described in a statement filed
with the Rights Agent and shall be conclusive for all purposes.

         (ii) For the purpose of any computation hereunder, the "current market
price" per share of Preferred Stock shall be determined in the same manner as
set forth above for the Common Stock in Section 11(d)(i) (other than the last
sentence thereof). If the current market price per share of Preferred Stock
cannot be determined in such manner, the "current market price" per share of
Preferred Stock shall be conclusively deemed to be an amount equal to 1000 (as
such number may be appropriately adjusted for such events as stock splits, stock
dividends and recapitalizations with respect to the Common Stock occurring after
the date of this Agreement) multiplied by the current market price per share of
Common Stock (as determined pursuant to Section 11(d)(i) (other than the last
sentence thereof)). If neither the Common Stock nor the Preferred Stock is
publicly held or so listed or traded, the "current market price" per share of
the Preferred Stock shall be determined in the same manner as set forth in the
last sentence of Section 11(d)(i). For all purposes of this Agreement, the
"current market price" of one one-thousandth of a share of Preferred Stock shall
be equal to the "current market price" of one share of Preferred Stock divided
by 1000.

         (iii) For the purpose of any computation hereunder, the value of any
securities or assets other than Common Stock or Preferred Stock shall be the
fair value as determined in good faith by the Board of Directors of the Company,
or, if at the time of such determination there is an Acquiring Person, by a
majority of the Continuing Directors then in office, or, if there are no
Continuing Directors, by a nationally recognized investment banking firm
selected by the Board of Directors, which determination shall be described in a
statement filed with the Rights Agent and shall be conclusive for all purposes.

                                       14
<PAGE>   19

     (e) Anything herein to the contrary notwithstanding, no adjustment in the
Purchase Price shall be required unless such adjustment would require an
increase or decrease of at least 1% in the Purchase Price; provided that any
adjustments which by reason of this Section 11(e) are not required to be made
shall be carried forward and taken into account in any subsequent adjustment.
All calculations under this Section 11 shall be made to the nearest cent or to
the nearest ten-thousandth of a share of Common Stock or other share or
ten-millionth of a share of Preferred Stock, as the case may be.

     (f) If at any time, as a result of an adjustment made pursuant to Section
11(a)(ii) or Section 13(a), the holder of any Right shall be entitled to receive
upon exercise of such Right any shares of capital stock other than Preferred
Stock, thereafter the number of such other shares so receivable upon exercise of
any Right and the Purchase Price thereof shall be subject to adjustment from
time to time in a manner and on terms as nearly equivalent as practicable to the
provisions with respect to the Preferred Stock contained in Section 11(a), (b),
(c), (e), (g), (h), (i), (j), (k) and (m), and the provisions of Sections 7, 9,
10, 13 and 14 with respect to the Preferred Stock shall apply on like terms to
any such other shares.

     (g) All Rights originally issued by the Company subsequent to any
adjustment made hereunder shall evidence the right to purchase, at the Purchase
Price then in effect, the then applicable number of one one-thousandths of a
share of Preferred Stock and other capital stock of the Company issuable from
time to time hereunder upon exercise of the Rights, all subject to further
adjustment as provided herein.

     (h) Unless the Company shall have exercised its election as provided in
Section 11(i), upon each adjustment of the Purchase Price as a result of the
calculations made in Section 11(b) and (c), each Right outstanding immediately
prior to the making of such adjustment shall thereafter evidence the right to
purchase, at the adjusted Purchase Price, that number of one one-thousandths of
a share of Preferred Stock (calculated to the nearest ten-millionth) obtained by
(i) multiplying (x) the number of one one-thousandths of a share for which a
Right was exercisable immediately prior to this adjustment by (y) the Purchase
Price in effect immediately prior to such adjustment of the Purchase Price and
(ii) dividing the product so obtained by the Purchase Price in effect
immediately after such adjustment of the Purchase Price.

     (i) The Company may elect on or after the date of any adjustment of the
Purchase Price to adjust the number of Rights, in lieu of any adjustment in the
number of one one-thousandths of a share of Preferred Stock issuable upon the
exercise of a Right. Each of the Rights outstanding after such adjustment of the
number of Rights shall be exercisable for the number of one one-thousandths of a
share of Preferred Stock for which such Right was exercisable immediately prior
to such adjustment. Each Right held of record prior to such adjustment of the
number of Rights shall become that number of Rights (calculated to the nearest
ten-thousandth) obtained by dividing the Purchase Price in effect immediately
prior to adjustment of the Purchase Price by the Purchase Price in effect
immediately after adjustment of the Purchase Price. The Company shall make a
public announcement of its election to adjust the number of Rights, indicating
the record date for the adjustment, and, if known at the

                                       15
<PAGE>   20

time, the amount of the adjustment to be made. This record date may be the date
on which the Purchase Price is adjusted or any day thereafter, but, if the Right
Certificates have been issued, shall be at least 10 days later than the date of
the public announcement. If Right Certificates have been issued, upon each
adjustment of the number of Rights pursuant to this Section 11(i), the Company
shall, as promptly as practicable, cause to be distributed to holders of record
of Right Certificates on such record date Right Certificates evidencing, subject
to Section 14, the additional Rights to which such holders shall be entitled as
a result of such adjustment, or, at the option of the Company, shall cause to be
distributed to such holders of record in substitution and replacement for the
Right Certificates held by such holders prior to the date of adjustment, and
upon surrender thereof, if required by the Company, new Right Certificates
evidencing all the Rights to which such holders shall be entitled after such
adjustment. Right Certificates so to be distributed shall be issued, executed
and countersigned in the manner provided for herein (and may bear, at the option
of the Company, the adjusted Purchase Price) and shall be registered in the
names of the holders of record of Right Certificates on the record date
specified in the public announcement.

     (j) Irrespective of any adjustment or change in the Purchase Price or the
number of one one-thousandths of a share of Preferred Stock issuable upon the
exercise of the Rights, the Right Certificates theretofore and thereafter issued
may continue to express the Purchase Price per one one-thousandth of a share and
the number of shares which were expressed in the initial Right Certificates
issued hereunder.

     (k) Before taking any action that would cause an adjustment reducing the
Purchase Price below the par value, if any, of the number of one one-thousandths
of a share of Preferred Stock issuable upon exercise of the Rights, the Company
shall take any corporate action which may, in the opinion of its counsel, be
necessary in order that the Company may validly and legally issue fully paid and
nonassessable such number of one one-thousandths of a share of Preferred Stock
at such adjusted Purchase Price.

     (l) In any case in which this Section 11 shall require that an adjustment
in the Purchase Price be made effective as of a record date for a specified
event, the Company may elect to defer until the occurrence of such event the
issuance to the holder of any Right exercised after such record date the number
of one one-thousandths of a share of Preferred Stock or other capital stock of
the Company, if any, issuable upon such exercise over and above the number of
one one-thousandths of a share of Preferred Stock or other capital stock of the
Company, if any, issuable upon such exercise on the basis of the Purchase Price
in effect prior to such adjustment; provided that the Company shall deliver to
such holder a due bill or other appropriate instrument evidencing such holder's
right to receive such additional shares upon the occurrence of the event
requiring such adjustment.

     (m) Anything in this Section 11 to the contrary notwithstanding, the
Company shall be entitled to make such reductions in the Purchase Price, in
addition to those adjustments expressly required by this Section 11, as and to
the extent that it, in its sole discretion, shall determine to be advisable in
order that any consolidation or subdivision of the Preferred Stock, issuance
wholly for cash of any Preferred Stock at less than the current market price,
issuance wholly for

                                       16
<PAGE>   21

cash of Preferred Stock or securities which by their terms are convertible into
or exercisable for Preferred Stock, stock dividends or issuance of rights,
options or warrants referred to in this Section 11, hereafter made by the
Company to the holders of its Preferred Stock, shall not be taxable to such
stockholders.

     (n) The Company covenants and agrees that it will not at any time after the
Distribution Date (i) consolidate, merge or otherwise combine with or (ii) sell
or otherwise transfer (and/or permit any of its Subsidiaries to sell or
otherwise transfer), in one transaction or a series of related transactions,
assets or earning power aggregating more than 50% of the assets or earning power
of the Company and its Subsidiaries, taken as a whole, to any other Person or
Persons if (x) at the time of or immediately after such consolidation, merger,
combination or sale there are any rights, warrants or other instruments or
securities outstanding or any agreements or arrangements in effect which would
substantially diminish or otherwise eliminate the benefits intended to be
afforded by the Rights or (y) prior to, simultaneously with or immediately after
such consolidation, merger, combination or sale, the stockholders of a Person
who constitutes, or would constitute, the "Principal Party" for the purposes of
Section 13 shall have received a distribution of Rights previously owned by such
Person or any of its Affiliates and Associates.

     (o) The Company covenants and agrees that after the Distribution Date, it
will not, except as permitted by Sections 23, 24 and 27, take (or permit any
Subsidiary to take) any action if at the time such action is taken it is
reasonably foreseeable that such action will substantially diminish or otherwise
eliminate the benefits intended to be afforded by the Rights.

     (p) Notwithstanding anything in this Agreement to the contrary, if at any
time after the date hereof and prior to the Distribution Date the Company shall
(i) pay a dividend on the outstanding shares of Common Stock payable in shares
of Common Stock, (ii) subdivide the outstanding Common Stock into a larger
number of shares or (iii) combine the outstanding Common Stock into a smaller
number of shares, the number of Rights associated with each share of Common
Stock then outstanding, or issued or delivered thereafter as contemplated by
Section 3(c), shall be proportionately adjusted so that the number of Rights
thereafter associated with each share of Common Stock following any such event
shall equal the result obtained by multiplying the number of Rights associated
with each share of Common Stock immediately prior to such event by a fraction
the numerator of which shall be the total number of shares of Common Stock
outstanding immediately prior to the occurrence of the event and the denominator
of which shall be the total number of shares of Common Stock outstanding
immediately following the occurrence of such event.

     Section 12. Certificate of Adjusted Purchase Price or Number of Shares.
Whenever an adjustment is made as provided in Sections 11 and 13, the Company
shall (a) promptly prepare a certificate setting forth such adjustment and a
brief statement of the facts accounting for such adjustment, (b) promptly file
with the Rights Agent and with each transfer agent for the Preferred Stock and
the Common Stock a copy of such certificate and (c) mail a brief summary thereof
to each holder of a Right Certificate (or, if prior to the Distribution Date, to
each holder of a

                                       17
<PAGE>   22

certificate representing shares of Common Stock) in the manner set forth in
Section 26. The Rights Agent shall be fully protected in relying on any such
certificate and on any adjustment therein contained.

     Section 13. Consolidation, Merger or Sale or Transfer of Assets or Earning
Power. (a) If, following the Stock Acquisition Date, directly or indirectly,

          (x) the Company shall consolidate with, merge into, or otherwise
     combine with, any other Person, and the Company shall not be the continuing
     or surviving corporation of such consolidation, merger or combination,

          (y) any Person shall merge into, or otherwise combine with, the
     Company, and the Company shall be the continuing or surviving corporation
     of such merger or combination and, in connection with such merger or
     combination, all or part of the outstanding shares of Common Stock shall be
     changed into or exchanged for other stock or securities of the Company or
     any other Person, cash or any other property, or

          (z) the Company and/or one or more of its Subsidiaries shall sell or
     otherwise transfer, in one transaction or a series of related transactions,
     assets or earning power aggregating more than 50% of the assets or earning
     power of the Company and its Subsidiaries, taken as a whole, to any other
     Person or Persons,

then, and in each such case, proper provision shall promptly be made so
that

     (1) each holder of a Right shall thereafter be entitled to receive, upon
exercise thereof at the Purchase Price in effect immediately prior to the first
occurrence of any Triggering Event, such number of duly authorized, validly
issued, fully paid and nonassessable shares of freely tradeable Common Stock of
the Principal Party (as hereinafter defined), not subject to any rights of call
or first refusal, liens, encumbrances or other claims, as shall be equal to the
result obtained by dividing

          (A) the product obtained by multiplying the Purchase Price in effect
     immediately prior to the first occurrence of any Triggering Event by the
     number of one one-thousandths of a share of Preferred Stock for which a
     Right was exercisable immediately prior to such first occurrence (such
     product being thereafter referred to as the "Purchase Price" for each Right
     and for all purposes of this Agreement) by

          (B) 50% of the current market price (determined pursuant to Section
     11(d)(i)) per share of the Common Stock of such Principal Party on the date
     of consummation of such consolidation, merger, combination, sale or
     transfer;

     (2) the Principal Party shall thereafter be liable for, and shall assume,
by virtue of such consolidation, merger, combination, sale or transfer, all the
obligations and duties of the Company pursuant to this Agreement;

                                       18
<PAGE>   23

     (3) the term "Company" shall thereafter be deemed to refer to such
Principal Party, it being specifically intended that the provisions of Section
11 shall apply only to such Principal Party following the first occurrence of a
Section 13 Event; and

     (4) such Principal Party shall take such steps (including the authorization
and reservation of a sufficient number of shares of its Common Stock to permit
exercise of all outstanding Rights in accordance with this Section 13(a)) in
connection with the consummation of any such transaction as may be necessary to
assure that the provisions hereof shall thereafter be applicable, as nearly as
reasonably may be, in relation to the shares of its Common Stock thereafter
deliverable upon the exercise of the Rights.

     (b) "Principal Party" means

          (i) in the case of any transaction described in Section 13(a)(x) or
     (y), the Person that is the issuer of any securities into which shares of
     Common Stock of the Company are converted in such merger, consolidation or
     combination, and if no securities are so issued, the Person that survives
     or results from such merger, consolidation or combination; and

         (ii) in the case of any transaction described in Section 13(a)(z), the
     Person that is the party receiving the greatest portion of the assets or
     earning power transferred pursuant to such transaction or transactions;

provided that in any such case, (A) if the Common Stock of such Person is not at
such time and has not been continuously over the preceding 12-month period
registered under Section 12 of the Exchange Act, and such Person is a direct or
indirect Subsidiary of another Person the Common Stock of which is and has been
so registered, "Principal Party" shall refer to such other Person; and (B) in
case such Person is a Subsidiary, directly or indirectly, of more
than one Person, the Common Stocks of two or more of which are and have been so
registered, "Principal Party" shall refer to whichever of such Persons is the
issuer of the Common Stock having the greatest aggregate market value.

     (c) The Company shall not consummate any such consolidation, merger,
combination, sale or transfer unless the Principal Party shall have a sufficient
number of authorized shares of its Common Stock which are not outstanding or
otherwise reserved for issuance to permit the exercise in full of the Rights in
accordance with this Section 13 and unless prior thereto the Company and such
Principal Party shall have executed and delivered to the Rights Agent a
supplemental agreement providing for the terms set forth in Section 13(a) and
(b) and providing that, as soon as practicable after the date of any
consolidation, merger, combination, sale or transfer mentioned in Section 13(a),
the Principal Party will

          (i) prepare and file a registration statement under the Securities Act
     with respect to the securities issuable upon exercise of the Rights, and
     will use its best efforts to cause such registration statement (A) to
     become effective as soon as practicable after such filing and (B) to remain
     effective (with a prospectus at all times meeting the requirements of the
     Securities Act) until the Expiration Date and

                                       19
<PAGE>   24

          (ii) deliver to holders of the Rights historical financial statements
     for the Principal Party and each of its Affiliates which comply in all
     respects with the requirements for registration on Form 10 under the
     Exchange Act.

The provisions of this Section 13 shall similarly apply to successive mergers,
consolidations, combinations, sales or other transfers. If any Section 13 Event
shall occur at any time after the occurrence of a Section 11(a)(ii) Event, the
Rights which have not theretofore been exercised shall thereafter become
exercisable in the manner described in Section 13(a).

     Section 14. Fractional Rights and Fractional Shares. (a) The Company shall
not be required to issue fractions of Rights, except prior to the Distribution
Date as provided in Section 11(p), or to distribute Right Certificates which
evidence fractional Rights. In lieu of any such fractional Rights, the Company
shall pay to the registered holders of the Right Certificates with regard to
which such fractional Rights would otherwise be issuable an amount in cash equal
to the same fraction of the current market price of a whole Right. For purposes
of this Section 14(a), the current market price of a whole Right shall be the
closing price of a Right for the Trading Day immediately prior to the date on
which such fractional Rights would otherwise have been issuable. The closing
price of a Right for any day shall be the last sale price, regular way, or, in
case no such sale takes place on such day, the average of the closing bid and
asked prices, regular way, in either case as reported in the principal
consolidated transaction reporting system with respect to securities listed or
admitted to trading on the New York Stock Exchange or, if the Rights are not
listed or admitted to trading on the New York Stock Exchange, on the principal
national securities exchange on which the Rights are listed or admitted to
trading or, if the Rights are not listed or admitted to trading on any national
securities exchange, the last quoted price, or, if not so quoted, the average of
the high bid and low asked prices in the over-the-counter market, as reported by
NASDAQ or such other system then in use or, if on any such date the Rights are
not quoted by any such organization, the average of the closing bid and asked
prices as furnished by a professional market maker making a market in the Rights
selected by the Board of Directors of the Company, or, if at the time of such
selection there is an Acquiring Person, by a majority of the Continuing
Directors. If on any such date no such market maker is making a market in the
Rights, the current market price of the Rights on such date shall be as
determined in good faith by the Board of Directors of the Company, or, if at the
time of such determination there is an Acquiring Person, by a majority of the
Continuing Directors.

     (b) The Company shall not be required to issue fractions of shares of
Preferred Stock (other than fractions which are multiples of one one-thousandth
of a share of Preferred Stock) upon exercise of the Rights or to distribute
certificates which evidence fractional shares of Preferred Stock (other than
fractions which are multiples of one one-thousandth of a share of Preferred
Stock). In lieu of any such fractional shares of Preferred Stock, the Company
shall pay to the registered holders of Right Certificates at the time such
Rights are exercised as herein provided an amount in cash equal to the same
fraction of the current market price of one one-thousandth of a share of
Preferred Stock. For purposes of this Section 14(b), the current market price of
one one-thousandth of a share of Preferred Stock shall be one one-thousandth of
the closing price of a share of Preferred Stock (as determined pursuant to
Section 11(d)) for the

                                       20
<PAGE>   25

Trading Day immediately prior to the date of such exercise.

     (c) Following the occurrence of any Triggering Event or upon any exchange
pursuant to Section 24, the Company shall not be required to issue fractions of
shares of Common Stock upon exercise of the Rights or to distribute certificates
which evidence fractional shares of Common Stock. In lieu of fractional shares
of Common Stock, the Company shall pay to the registered holders of Right
Certificates at the time such Rights are exercised or exchanged as herein
provided an amount in cash equal to the same fraction of the current market
price of a share of Common Stock. For purposes of this Section 14(c), the
current market price of a share of Common Stock shall be the closing price of a
share of Common Stock (as determined pursuant to Section 11(d)(i)) for the
Trading Day immediately prior to the date of such exercise or exchange.

     (d) The holder of a Right by the acceptance of the Right expressly waives
his right to receive any fractional Rights or any fractional shares upon
exercise of a Right except as permitted by this Section 14.

     Section 15. Rights of Action. All rights of action in respect of this
Agreement are vested in the respective registered holders of the Right
Certificates (and, prior to the Distribution Date, the registered holders of
certificates representing Common Stock); and any registered holder of any Right
Certificate (or, prior to the Distribution Date, of any certificate representing
Common Stock), without the consent of the Rights Agent or of the holder of any
other Right Certificate (or, prior to the Distribution Date, of any certificate
representing Common Stock), may, in his own behalf and for his own benefit,
enforce, and may institute and maintain any suit, action or proceeding against
the Company to enforce, or otherwise act in respect of, his right to exercise
the Rights evidenced by such Right Certificate in the manner provided in such
Right Certificate and in this Agreement. Without limiting the foregoing or any
remedies available to the holders of Rights, it is specifically acknowledged
that the holders of Rights would not have an adequate remedy at law for any
breach of this Agreement and will be entitled to specific performance of the
obligations under, and injunctive relief against actual or threatened violations
of the obligations of, any Person subject to this Agreement.

     Section 16. Agreement of Right Holders. Every holder of a Right by
accepting the same consents and agrees with the Company and the Rights Agent and
with every other holder of a Right that:

     (a) prior to the Distribution Date, the Rights will be transferable only in
connection with the transfer of Common Stock;

     (b) after the Distribution Date, the Right Certificates are transferable
only on the registry books of the Rights Agent if surrendered at the principal
office or offices of the Rights Agent designated for such purposes, duly
endorsed or accompanied by a proper instrument of transfer and with the
appropriate forms and certificates fully executed;

     (c) subject to Sections 6 and 7, the Company and the Rights Agent may deem
and treat the Person in whose name a Right Certificate (or, prior to the
Distribution Date, a certificate representing shares of Common Stock) is
registered as the absolute owner thereof and of the Rights evidenced thereby
(notwithstanding any notations of ownership or writing on

                                       21
<PAGE>   26
the Right Certificate or the certificate representing shares of Common Stock
made by anyone other than the Company or the Rights Agent) for all purposes
whatsoever, and neither the Company nor the Rights Agent, subject to the last
sentence of Section 7(d), shall be affected by any notice to the contrary; and

     (d) notwithstanding anything in this Agreement to the contrary, neither the
Company nor the Rights Agent shall have any liability to any holder of a Right
or other Person as a result of its inability to perform any of its obligations
under this Agreement by reason of any preliminary or permanent injunction or
other order, decree or ruling issued by a court of competent jurisdiction or by
a governmental, regulatory or administrative agency or commission, or any
statute, rule, regulation or executive order promulgated or enacted by any
governmental authority prohibiting or otherwise restraining performance of such
obligation; provided that the Company must use its best efforts to have any such
order, decree or ruling lifted or otherwise overturned as soon as possible.

     Section 17. Right Certificate Holder Not Deemed a Stockholder. No holder,
as such, of any Right Certificate shall be entitled to vote, receive dividends
or be deemed for any purpose the holder of the shares of capital stock which may
at any time be issuable on the exercise of the Rights represented thereby, nor
shall anything contained herein or in any Right Certificate be construed to
confer upon the holder of any Right Certificate, as such, any of the rights of a
stockholder of the Company or any right to vote for the election of directors or
upon any matter submitted to stockholders at any meeting thereof, or to give or
withhold consent to any corporate action, or to receive notice of meetings or
other actions affecting stockholders (except as provided in Section 25), or to
receive dividends or subscription rights, or otherwise, until the Right or
Rights evidenced by such Right Certificate shall have been exercised in
accordance with the provisions hereof.

     Section 18. Concerning the Rights Agent. (a) The Company agrees to pay to
the Rights Agent such compensation as shall be agreed to in writing between the
Company and the Rights Agent for all services rendered by it hereunder and, from
time to time, on demand of the Rights Agent, its reasonable expenses and counsel
fees, expenses and disbursements and other disbursements incurred in the
execution or administration of this Agreement and the exercise and performance
of its duties hereunder. The Company also agrees to indemnify the Rights Agent
for, and to hold it harmless against, any loss, liability, or expense, incurred
without gross negligence, bad faith or willful misconduct on the part of the
Rights Agent, for anything done or omitted by the Rights Agent in connection
with the administration of this Agreement or the exercise or performance of its
duties hereunder, including the costs and expenses of defending against any
claim of liability. The provisions of this Section 18(a) shall survive the
expiration of the Rights and the termination of this Agreement.

     (b) The Rights Agent shall be protected and shall incur no liability for or
in respect of any action taken, suffered or omitted by it in connection with the
administration of this Agreement or the exercise or performance of its duties
hereunder in reliance upon any Right Certificate or certificate for Common Stock
or for other securities of the Company, instrument of assignment or transfer,
power of attorney, endorsement, affidavit, letter, notice, opinion, instruction,
direction, consent, certificate, statement, or other paper or document believed
by it to be genuine and to be signed and executed by the proper Person or
Persons.

                                       22
<PAGE>   27

     Section 19. Merger or Consolidation or Change of Name of Rights Agent. (a)
Any corporation into which the Rights Agent or any successor Rights Agent may be
merged or with which it may be consolidated, or any corporation resulting from
any merger or consolidation to which the Rights Agent or any successor Rights
Agent shall be a party, or any corporation succeeding to the corporate trust or
stock transfer business of the Rights Agent or any successor Rights Agent, shall
be the successor to the Rights Agent under this Agreement without the execution
or filing of any paper or any further act on the part of any of the parties
hereto; provided that such corporation would be eligible for appointment as a
successor Rights Agent under the provisions of Section 21. In case at the time
such successor Rights Agent shall succeed to the agency created by this
Agreement, any of the Right Certificates shall have been countersigned but not
delivered, any such successor Rights Agent may adopt the countersignature of a
predecessor Rights Agent and deliver such Right Certificates so countersigned;
and in case at that time any of the Right Certificates shall not have been
countersigned, any successor Rights Agent may countersign such Right
Certificates either in the name of the predecessor Rights Agent or in the name
of the successor Rights Agent; and in all such cases such Right Certificates
shall have the full force provided in the Right Certificates and in this
Agreement.

     (b) In case at any time the name of the Rights Agent shall be changed and
at such time any of the Right Certificates shall have been countersigned but not
delivered, the Rights Agent may adopt the countersignature under its prior name
and deliver Right Certificates so countersigned; and in case at that time any of
the Right Certificates shall not have been countersigned, the Rights Agent may
countersign such Right Certificates either in its prior name or in its changed
name; and in all such cases such Right Certificates shall have the full force
provided in the Right Certificates and in this Agreement.

     Section 20. Duties of Rights Agent. The Rights Agent undertakes the duties
and obligations imposed by this Agreement upon the following terms and
conditions, by all of which the Company and the holders of Right Certificates,
by their acceptance thereof, shall be bound:

     (a) The Rights Agent may consult with legal counsel (who may be legal
counsel for the Company), and the opinion of such counsel shall be full and
complete authorization and protection to the Rights Agent as to any action taken
or omitted by it in good faith and in accordance with such opinion.

     (b) Whenever in the performance of its duties under this Agreement the
Rights Agent shall deem it necessary or desirable that any fact or matter
(including, without limitation, the identity of any "Acquiring Person" and the
determination of "current market price") be proved or established by the Company
prior to taking, suffering or omitting to take any action hereunder, such fact
or matter (unless other evidence in respect thereof be herein specifically
prescribed) may be deemed to be conclusively proved and established by a
certificate signed by the Chairman of the Board, the President or any Vice
President and by the Treasurer or any Assistant Treasurer or the Secretary or
any Assistant Secretary of the Company and delivered to the Rights Agent; and
such certificate shall be full authorization to the Rights Agent for any action
taken, suffered or

                                       23
<PAGE>   28

omitted in good faith by it under the provisions of this Agreement in reliance
upon such certificate.

     (c) The Rights Agent shall be liable hereunder only for its own gross
negligence, bad faith or willful misconduct.

     (d) The Rights Agent shall not be liable for or by reason of any of the
statements of fact or recitals contained in this Agreement or in the Right
Certificates (except its countersignature thereof) or be required to verify the
same, but all such statements and recitals are and shall be deemed to have been
made by the Company only.

     (e) The Rights Agent shall not be under any responsibility in respect of
the validity of this Agreement or the execution and delivery hereof (except the
due execution hereof by the Rights Agent) or in respect of the validity or
execution of any Right Certificate (except its countersignature thereof); nor
shall it be responsible for any breach by the Company of any covenant or
condition contained in this Agreement or in any Right Certificate; nor shall it
be responsible for any change in the exercisability of the Rights (including the
Rights becoming void pursuant to Section 7(d)) or any adjustment in the terms of
the Rights (including the manner, method or amount thereof) provided for in
Sections 3, 11, 13, 23 or 24, or the ascertaining of the existence of facts that
would require any such adjustment (except with respect to the exercise of Rights
evidenced by Right Certificates after actual notice of any such adjustment); nor
shall it by any act hereunder be deemed to make any representation or warranty
as to the authorization or reservation of any shares of Common Stock or
Preferred Stock to be issued pursuant to this Agreement or any Right Certificate
or as to whether any shares of Common Stock or Preferred Stock will, when
issued, be duly authorized, validly issued, fully paid and nonassessable.

     (f) The Company agrees that it will perform, execute, acknowledge and
deliver or cause to be performed, executed, acknowledged and delivered all such
further and other acts, instruments and assurances as may reasonably be required
by the Rights Agent for the carrying out or performing by the Rights Agent of
the provisions of this Agreement.

     (g) The Rights Agent is hereby authorized and directed to accept
instructions with respect to the performance of its duties hereunder from the
Chairman of the Board, the President or any Vice President or the Secretary or
any Assistant Secretary or the Treasurer or any Assistant Treasurer of the
Company, and to apply to such officers for advice or instructions in connection
with its duties, and it shall not be liable for any action taken, suffered or
omitted to be taken by it in good faith in accordance with instructions of any
such officer.

     (h) The Rights Agent and any stockholder, director, officer or employee of
the Rights Agent may buy, sell or deal in any of the Rights or other securities
of the Company or become pecuniarily interested in any transaction in which the
Company may be interested, or contract with or lend money to the Company or
otherwise act as fully and freely as though it were not the Rights Agent under
this Agreement. Nothing herein shall preclude the Rights Agent from acting in
any other capacity for the Company or for any other Person.

                                       24
<PAGE>   29

     (i) The Rights Agent may execute and exercise any of the rights or powers
hereby vested in it or perform any duty hereunder either itself or by or through
its attorneys or agents, and the Rights Agent shall not be answerable or
accountable for any act, default, neglect or misconduct of any such attorneys or
agents or for any loss to the Company or to any holders of Rights resulting from
any such act, default, neglect or misconduct, provided that reasonable care was
exercised in the selection thereof.

     (j) No provision of this Agreement shall require the Rights Agent to expend
or risk its own funds or otherwise incur any financial liability in the
performance of any of its duties hereunder or in the exercise of its rights if
there shall be reasonable grounds for believing that repayment of such funds or
adequate indemnification against such risk or liability is not reasonably
assured to it.

     (k) If, with respect to any Right Certificate surrendered to the Rights
Agent for exercise or transfer, the certificate attached to the form of
assignment or form of election to purchase, as the cases may be, has either not
been completed or indicates an affirmative response to clause 1 or 2 thereof,
the Rights Agent shall not take any further action with respect to such
requested exercise or transfer without first consulting with the Company.

     Section 21. Change of Rights Agent. The Rights Agent or any successor
Rights Agent may resign and be discharged from its duties under this Agreement
upon 30 days' notice in writing mailed to the Company and to each transfer agent
of the Common Stock and Preferred Stock by registered or certified mail, and,
subsequent to the Distribution Date, to the holders of the Right Certificates by
first-class mail. The Company may remove the Rights Agent or any successor
Rights Agent upon 30 days' notice in writing, mailed to the Rights Agent or
successor Rights Agent, as the case may be, and to each transfer agent of the
Common Stock and Preferred Stock by registered or certified mail, and,
subsequent to the Distribution Date, to the holders of the Right Certificates by
first-class mail. If the Rights Agent shall resign or be removed or shall
otherwise become incapable of acting, the Company shall appoint a successor to
the Rights Agent. If the Company shall fail to make such appointment within a
period of 30 days after giving notice of such removal or after it has been
notified in writing of such resignation or incapacity by the resigning or
incapacitated Rights Agent or by the holder of a Right Certificate (who shall,
with such notice, submit his Right Certificate for inspection by the Company),
then the registered holder of any Right Certificate may apply to any court of
competent jurisdiction for the appointment of a new Rights Agent. Any successor
Rights Agent, whether appointed by the Company or by such a court, shall be (a)
a corporation organized and doing business under the laws of the United States
or of any state of the United States, in good standing, having a principal
office in the State of New York, which is authorized under such laws to exercise
stock transfer or corporate trust powers and is subject to supervision or
examination by federal or state authority and which has at the time of its
appointment as Rights Agent a combined capital and surplus of at least
$50,000,000 or (b) an Affiliate of a corporation described in clause (a) of this
sentence. After appointment, the successor Rights Agent shall be vested with the
same powers, rights, duties and responsibilities as if it had been originally
named as Rights Agent without further act or deed; but the predecessor Rights
Agent shall deliver and transfer to the

                                       25
<PAGE>   30

successor Rights Agent any property at the time held by it hereunder, and
execute and deliver any further assurance, conveyance, act or deed necessary for
the purpose. Not later than the effective date of any such appointment, the
Company shall file notice thereof in writing with the predecessor Rights Agent
and each transfer agent of the Common Stock and the Preferred Stock, and,
subsequent to the Distribution Date, mail a notice thereof in writing to the
registered holders of the Right Certificates. Failure to give any notice
provided for in this Section 21, or any defect therein, shall not affect the
legality or validity of the resignation or removal of the Rights Agent or the
appointment of the successor Rights Agent, as the case may be.

     Section 22. Issuance of New Right Certificates. Notwithstanding any of the
provisions of this Agreement or of the Rights to the contrary, the Company may,
at its option, issue new Right Certificates evidencing Rights in such form as
may be approved by its Board of Directors to reflect any adjustment or change in
the Purchase Price and the number or kind or class of shares of stock issuable
upon exercise of the Rights made in accordance with the provisions of this
Agreement.

     Section 23. Redemption. (a) The Board of Directors of the Company may, at
its option, at any time prior to the earlier of (i) the close of business on the
tenth day after the Stock Acquisition Date (or such later date as a majority of
the Continuing Directors may designate prior to such time as the Rights are no
longer redeemable) and (ii) the Final Expiration Date, redeem all but not less
than all the then outstanding Rights at a redemption price of $.01 per Right, as
such amount may be appropriately adjusted to reflect any stock split, stock
dividend or similar transaction occurring after the date hereof (such redemption
price being hereinafter referred to as the "Redemption Price"); provided that
after any Person has become an Acquiring Person, any redemption of the Rights
shall be effective only if there are Continuing Directors then in office, and
such redemption shall have been approved by a majority of such Continuing
Directors. Notwithstanding anything in this Agreement to the contrary, the
Rights shall not be exercisable after the first occurrence of a Section
11(a)(ii) Event until such time as the Company's right of redemption hereunder
has expired.

     (b) Immediately upon the action of the Board of Directors of the Company
electing to redeem the Rights and without any further action and without any
notice, the right to exercise the Rights will terminate and thereafter the only
right of the holders of Rights shall be to receive the Redemption Price for each
Right so held. The Company shall promptly thereafter give notice of such
redemption to the Rights Agent and the holders of the Rights in the manner set
forth in Section 26; provided that the failure to give, or any defect in, such
notice shall not affect the validity of such redemption. Any notice which is
mailed in the manner herein provided shall be deemed given, whether or not the
holder receives the notice. Each such notice of redemption will state the method
by which the payment of the Redemption Price will be made. Neither the Company
nor any of its Affiliates or Associates may redeem, acquire or purchase for
value any Rights at any time in any manner other than that specifically set
forth in Section 23 or 24, and other than in connection with the purchase,
acquisition or redemption of shares of Common Stock prior to the Distribution
Date.

                                       26
<PAGE>   31

     Section 24. Exchange. (a) At any time after any Person becomes an Acquiring
Person, a majority of the Continuing Directors may, at their option, exchange
all or part of the then outstanding and exercisable Rights (which shall not
include Rights that have become void pursuant to Section 7(d)) for shares of
Common Stock at an exchange ratio of one share of Common Stock per Right,
appropriately adjusted to reflect any stock split, stock dividend or similar
transaction occurring after the date hereof (such exchange ratio being
hereinafter referred to as the "Exchange Ratio"). Notwithstanding the foregoing,
the Board of Directors shall not be empowered to effect such exchange at any
time after any Person (other than the Company, any of its Subsidiaries, any
employee benefit plan of the Company or any of its Subsidiaries or any Person
organized, appointed or established by the Company or any of its Subsidiaries
for or pursuant to the terms of any such plan), together with all Affiliates and
Associates of such Person, becomes the Beneficial Owner of 50% or more of the
shares of Common Stock then outstanding.

     (b) Immediately upon the action of the Continuing Directors electing to
exchange any Rights pursuant to Section 24(a) and without any further action and
without any notice, the right to exercise such Rights will terminate and
thereafter the only right of a holder of such Rights shall be to receive that
number of shares of Common Stock equal to the number of such Rights held by such
holder multiplied by the Exchange Ratio. The Company shall promptly thereafter
give notice of such exchange to the Rights Agent and the holders of the Rights
to be exchanged in the manner set forth in Section 26; provided that the failure
to give, or any defect in, such notice shall not affect the validity of such
exchange. Any notice which is mailed in the manner herein provided shall be
deemed given, whether or not the holder receives the notice. Each such notice of
exchange will state the method by which the exchange of the shares of Common
Stock for Rights will be effected and, in the event of any partial exchange, the
number of Rights which will be exchanged. Any partial exchange shall be effected
pro rata based on the number of Rights (other than Rights which have become void
pursuant to Section 7(d)) held by each holder of Rights.

     (c) In any exchange pursuant to this Section 24, the Company, at its
option, may substitute common stock equivalents (as defined in Section
11(a)(iii)) for shares of Common Stock exchangeable for Rights, at the initial
rate of one common stock equivalent for each share of Common Stock, as
appropriately adjusted to reflect adjustments in dividend, liquidation and
voting rights of common stock equivalents pursuant to the terms thereof, so that
each common stock equivalent delivered in lieu of each share of Common Stock
shall have essentially the same dividend, liquidation and voting rights as one
share of Common Stock.

     Section 25. Notice of Proposed Actions. (a) In case the Company shall
propose, at any time after the Distribution Date, (i) to pay any dividend
payable in stock of any class to the holders of Preferred Stock or to make any
other distribution to the holders of Preferred Stock (other than a regular
quarterly cash dividend out of earnings or retained earnings of the Company), or
(ii) to offer to the holders of its Preferred Stock rights or warrants to
subscribe for or to purchase any additional shares of Preferred Stock or shares
of stock of any class or any other securities, rights or options, or (iii) to
effect any reclassification of its Preferred Stock (other than a
reclassification involving only the subdivision or

                                       27
<PAGE>   32

combination of outstanding shares of Preferred Stock) or (iv) to effect any
consolidation or merger with any other Person, or to effect and/or to permit one
or more of its Subsidiaries to effect any sale or other transfer, in one
transaction or a series of related transactions, of assets or earning power
aggregating more than 50% of the assets or earning power of the Company and its
Subsidiaries, taken as a whole, to any other Person or Persons, or (v) to effect
the liquidation, dissolution or winding up of the Company, then, in each such
case, the Company shall give to each holder of a Right, to the extent feasible
and in accordance with Section 26, a notice of such proposed action, which shall
specify the record date for the purposes of any such dividend, distribution or
offering of rights or warrants, or the date on which any such reclassification,
consolidation, merger, sale, transfer, liquidation, dissolution or winding up is
to take place and the date of participation therein by the holders of Preferred
Stock, if any such date is to be fixed, and such notice shall be so given in the
case of any action covered by clause (i) or (ii) above at least 20 days prior to
the record date for determining holders of the Preferred Stock entitled to
participate in such dividend, distribution or offering, and in the case of any
such other action, at least 20 days prior to the date of the taking of such
proposed action or the date of participation therein by the holders of Preferred
Stock, whichever shall be the earlier. The failure to give notice required by
this Section or any defect therein shall not affect the legality or validity of
the action taken by the Company or the vote upon any such action.

     (b) Notwithstanding anything in this Agreement to the contrary, prior to
the Distribution Date a public filing by the Company with the Securities and
Exchange Commission shall constitute sufficient notice to the holders of
securities of the Company, including the Rights, for purposes of this Agreement
and no other notice need be given to such holders.

     (c) If a Triggering Event shall occur, then, in any such case, (1) the
Company shall as soon as practicable thereafter give to each holder of a Right,
in accordance with Section 26, a notice of the occurrence of such event, which
shall specify the event and the consequences of the event to holders of Rights
under Section 11(a)(ii) or 13, as the case may be, and (2) all references in
Section 25(a) to Preferred Stock shall be deemed thereafter to refer to Common
Stock or other capital stock, as the case may be.

     Section 26. Notices. Notices or demands authorized by this Agreement to be
given or made by the Rights Agent or by the holder of any Right to or on the
Company shall be sufficiently given or made if sent by first-class mail (postage
prepaid) to the address of the Company indicated on the signature page hereof or
such other address as the Company shall specify in writing to the Rights Agent.
Subject to the provisions of Section 21, any notice or demand authorized by this
Agreement to be given or made by the Company or by the holder of any Right to or
on the Rights Agent shall be sufficiently given or made if sent by first-class
mail (postage prepaid) to the address of the Rights Agent indicated on the
signature page hereof or such other address as the Rights Agent shall specify in
writing to the Company. Notices or demands authorized by this Agreement to be
given or made by the Company or the Rights Agent to the holder of any Right
Certificate (or, prior to the Distribution Date, to the holder of any
certificate representing shares of Common Stock) shall be sufficiently given or
made if sent by first-class mail (postage prepaid) to the address of such holder
shown on the registry books of the Company.

                                       28
<PAGE>   33

     Section 27. Supplements and Amendments. Prior to the Distribution Date, the
Company and the Rights Agent shall, if the Company so directs, supplement or
amend any provision of this Agreement without the approval of any holders of
certificates representing shares of Common Stock. From and after the
Distribution Date, the Company and the Rights Agent shall, if the Company so
directs, supplement or amend this Agreement without the approval of any holders
of Right Certificates in order (a) to cure any ambiguity, (b) to correct or
supplement any provision contained herein which may be defective or inconsistent
with any other provisions herein or (c) to change or supplement the provisions
hereof in any manner which the Company may deem necessary or desirable and which
shall not adversely affect the interests of the holders of Rights (other than an
Acquiring Person or an Affiliate or Associate of an Acquiring Person).
Notwithstanding the foregoing, after any Person has become an Acquiring Person,
any supplement or amendment shall be effective only if there are Continuing
Directors then in office, and such supplement or amendment shall have been
approved by a majority of such Continuing Directors. Upon the delivery of a
certificate from an appropriate officer of the Company which states that the
proposed supplement or amendment is in compliance with the terms of this
Section, the Rights Agent shall execute such supplement or amendment. Prior to
the Distribution Date, the interests of the holders of Rights shall be deemed
coincident with the interests of the holders of Common Stock.

     Section 28. Successors. All the covenants and provisions of this Agreement
by or for the benefit of the Company or the Rights Agent shall bind and inure to
the benefit of their respective successors and assigns hereunder.

     Section 29. Determinations and Actions by the Board of Directors, etc. For
all purposes of this Agreement, any calculation of the number of shares of
Common Stock outstanding at any particular time, including for purposes of
determining the particular percentage of such outstanding shares of Common Stock
of which any Person is the Beneficial Owner, shall be made in accordance with
the last sentence of Rule 13d-3(d)(1)(i) under the Exchange Act as in effect on
the date of this Agreement. The Board of Directors of the Company (or, after any
Person has become an Acquiring Person, a majority of the Continuing Directors)
shall have the exclusive power and authority to administer this Agreement and to
exercise all rights and powers specifically granted to the Board or to the
Company, or as may be necessary or advisable in the administration of this
Agreement, including the right and power to (i) interpret the provisions of this
Agreement and (ii) make all determinations deemed necessary or advisable for the
administration of this Agreement (including a determination to redeem or
exchange or not to redeem or exchange the Rights or to amend the Agreement). All
such actions, calculations, interpretations and determinations (including, for
purposes of clause (y) below, all omissions with respect to the foregoing) which
are done or made by the Board (or, after any Person has become an Acquiring
Person, by the Continuing Directors) in good faith shall (x) be final,
conclusive and binding on the Company, the Rights Agent, the holders of the
Rights and all other parties, and (y) not subject the Board of Directors of the
Company or the Continuing Directors to any liability to the holders of the
Rights.

                                       29
<PAGE>   34

     Section 30. Benefits of this Agreement. Nothing in this Agreement shall be
construed to give to any Person other than the Company, the Rights Agent and the
registered holders of the Right Certificates (and, prior to the Distribution
Date, the certificates representing the shares of Common Stock) any legal or
equitable right, remedy or claim under this Agreement; but this Agreement shall
be for the sole and exclusive benefit of the Company, the Rights Agent and the
registered holders of the Right Certificates (and, prior to the Distribution
Date, the certificates representing the shares of Common Stock).

     Section 31. Severability. If any term, provision, covenant or restriction
of this Agreement is held by a court of competent jurisdiction or other
authority to be invalid, void or unenforceable, the remainder of the terms,
provisions, covenants and restrictions of this Agreement shall remain in full
force and effect and shall in no way be affected, impaired or invalidated;
provided that, notwithstanding anything in this Agreement to the contrary, if
any such term, provision, covenant or restriction is held by such court or
authority to be invalid, void or unenforceable and the Board of Directors of the
Company (or, after any Person has become an Acquiring Person, a majority of the
Continuing Directors) determines in its good faith judgment that severing the
invalid language from this Agreement would adversely affect the purpose or
effect of this Agreement, the right of redemption set forth in Section 23 hereof
shall be reinstated and shall not expire until the close of business on the
tenth day following the date of such determination by the Board of Directors or
Continuing Directors, as the case may be.

     Section 32. Governing Law. This Agreement, each Right and each Right
Certificate issued hereunder shall be deemed to be a contract made under the
laws of the State of Delaware and for all purposes shall be governed by and
construed in accordance with the laws of such State applicable to contracts to
be made and performed entirely within such State, except that the rights and
obligations of the Rights Agent shall be governed by the law of the State of New
York.

     Section 33. Counterparts. This Agreement may be executed in any number of
counterparts and each of such counterparts shall for all purposes be deemed to
be an original, and all such counterparts shall together constitute one and the
same instrument.

     Section 34. Descriptive Headings. The captions herein are included for
convenience of reference only, do not constitute a part of this Agreement and
shall be ignored in the construction and interpretation hereof.

                                       30
<PAGE>   35

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed by their respective authorized officers as of the day and year first
above written.

                                MASCO CORPORATION

                                By: /s/Eugene A. Gargaro, Jr.
                                    Name: Eugene A. Gargaro, Jr.
                                    Title: Vice President

                                21001 Van Born Road
                                Taylor, Michigan  48180
                                   Attention:

                                THE BANK OF NEW YORK

                                By:  /s/John I. Sivertsen
                                     Name: John I. Sivertsen
                                     Title: Vice President

                                101 Barclay Street
                                New York, New York  10286
                                Attention:  Stock Transfer
                                               Administration

                                       31
<PAGE>   36

                                                                       Exhibit A

                              FORM OF
                    CERTIFICATE OF DESIGNATION
                                OF
                 SERIES A PARTICIPATING CUMULATIVE
                          PREFERRED STOCK

                                OF

                         MASCO CORPORATION

                  Pursuant to Section 151 of the
                  General Corporation Law of the
                         State of Delaware

     We, Richard G. Mosteller, Senior Vice President - Finance, and Eugene A.
Gargaro, Jr., Vice President and Secretary, of Masco Corporation, a corporation
organized and existing under the General Corporation Law of the State of
Delaware ("Delaware Law"), in accordance with the provisions thereof, DO HEREBY
CERTIFY:

     That pursuant to the authority conferred upon the Board of Directors by the
Certificate of Incorporation of the Corporation, the Board of Directors on
December 6, 1995, adopted the following resolution creating a series of
Preferred Stock in the amount and having the designation, voting powers,
preferences and relative, participating, optional and other special rights and
qualifications, limitations and restrictions thereof as follows:

     Section 1. Designation and Number of Shares. The shares of such series
shall be designated as "Series A Participating Cumulative Preferred Stock" (the
"Series A Preferred Stock"), and the number of shares constituting such series
shall be 175,106. Such number of shares of the Series A Preferred Stock may be
increased or decreased by resolution of the Board of Directors; provided that no
decrease shall reduce the number of shares of Series A Preferred Stock to a
number less than the number of shares then outstanding plus the number of shares
issuable upon exercise or conversion of outstanding rights, options or other
securities issued by the Corporation.

     Section 2. Dividends and Distributions.

     (A) The holders of shares of Series A Preferred Stock shall be entitled to
receive, when, as and if declared by the Board of Directors out of funds legally
available for the purpose, quarterly dividends payable on February 15, May 15,
August 15 and November 15 of each year (each such date being referred to herein
as a "Quarterly Dividend Payment Date"),

                                      A-1

<PAGE>   37

commencing on the first Quarterly Dividend Payment Date after the first issuance
of any share or fraction of a share of Series A Preferred Stock, in an amount
per share (rounded to the nearest cent) equal to the greater of (a) $1.00 and
(b) subject to the provision for adjustment hereinafter set forth, 1,000 times
the aggregate per share amount of all cash dividends or other distributions and
1,000 times the aggregate per share amount of all non-cash dividends or other
distributions (other than (i) a dividend payable in shares of Common Stock, par
value $1.00 per share, of the Corporation (the "Common Stock") or (ii) a
subdivision of the outstanding shares of Common Stock (by reclassification or
otherwise)), declared on the Common Stock since the immediately preceding
Quarterly Dividend Payment Date, or, with respect to the first Quarterly
Dividend Payment Date, since the first issuance of any share or fraction of a
share of Series A Preferred Stock. If the Corporation shall at any time after
December 6, 1995 (the "Rights Declaration Date") pay any dividend on Common
Stock payable in shares of Common Stock or effect a subdivision or combination
of the outstanding shares of Common Stock (by reclassification or otherwise)
into a greater or lesser number of shares of Common Stock, then in each such
case the amount to which holders of shares of Series A Preferred Stock were
entitled immediately prior to such event under clause (b) of the preceding
sentence shall be adjusted by multiplying such amount by a fraction the
numerator of which is the number of shares of Common Stock outstanding
immediately after such event and the denominator of which is the number of
shares of Common Stock that were outstanding immediately prior to such event.

     (B) The Corporation shall declare a dividend or distribution on the Series
A Preferred Stock as provided in paragraph (A) above immediately after it
declares a dividend or distribution on the Common Stock (other than as described
in clauses (i) and (ii) of the first sentence of paragraph (A)); provided that
if no dividend or distribution shall have been declared on the Common Stock
during the period between any Quarterly Dividend Payment Date and the next
subsequent Quarterly Dividend Payment Date (or, with respect to the first
Quarterly Dividend Payment Date, the period between the first issuance of any
share or fraction of a share of Series A Preferred Stock and such first
Quarterly Dividend Payment Date), a dividend of $1.00 per share on the Series A
Preferred Stock shall nevertheless be payable on such subsequent Quarterly
Dividend Payment Date.

     (C) Dividends shall begin to accrue and be cumulative on outstanding shares
of Series A Preferred Stock from the Quarterly Dividend Payment Date next
preceding the date of issue of such shares of Series A Preferred Stock, unless
the date of issue of such shares is on or before the record date for the first
Quarterly Dividend Payment Date, in which case dividends on such shares shall
begin to accrue and be cumulative from the date of issue of such shares, or
unless the date of issue is a date after the record date for the determination
of holders of shares of Series A Preferred Stock entitled to receive a quarterly
dividend and on or before such Quarterly Dividend Payment Date, in which case
dividends shall begin to accrue and be cumulative from such Quarterly Dividend
Payment Date. Accrued but unpaid dividends shall not bear interest. Dividends
paid on shares of Series A Preferred Stock in an amount less than the total
amount of such dividends at the time accrued and payable on such shares shall be
allocated pro rata on a share-by-share basis among all such shares at the time
outstanding. The Board of Directors may fix a record date for the determination
of holders of shares of Series A Preferred Stock entitled to receive payment of
a dividend or distribution declared thereon, which

                                      A-2
<PAGE>   38

record date shall not be more than 60 days prior to the date fixed for the
payment thereof.

     Section 3. Voting Rights. In addition to any other voting rights required
by law, the holders of shares of Series A Preferred Stock shall have the
following voting rights:

     (A) Subject to the provision for adjustment hereinafter set forth, each
share of Series A Preferred Stock shall entitle the holder thereof to 1,000
votes on all matters submitted to a vote of stockholders of the Corporation. If
the Corporation shall at any time after the Rights Declaration Date pay any
dividend on Common Stock payable in shares of Common Stock or effect a
subdivision or combination of the outstanding shares of Common Stock (by
reclassification or otherwise) into a greater or lesser number of shares of
Common Stock, then in each such case the number of votes per share to which
holders of shares of Series A Preferred Stock were entitled immediately prior to
such event shall be adjusted by multiplying such number by a fraction the
numerator of which is the number of shares of Common Stock outstanding
immediately after such event and the denominator of which is the number of
shares of Common Stock that were outstanding immediately prior to such event.

     (B) Except as otherwise provided herein or by law, the holders of shares of
Series A Preferred Stock and the holders of shares of Common Stock shall vote
together as a single class on all matters submitted to a vote of stockholders of
the Corporation.

     (C) (i) If at any time dividends on any Series A Preferred Stock shall be
in arrears in an amount equal to six quarterly dividends thereon, the occurrence
of such contingency shall mark the beginning of a period (herein called a
"default period") which shall extend until such time when all accrued and unpaid
dividends for all previous quarterly dividend periods and for the current
quarterly dividend period on all shares of Series A Preferred Stock then
outstanding shall have been declared and paid or set apart for payment. During
each default period, all holders of Preferred Stock and any other series of
Preferred Stock then entitled as a class to elect directors, voting together as
a single class, irrespective of series, shall have the right to elect two
Directors.

     (ii) During any default period, such voting right of the holders of Series
A Preferred Stock may be exercised initially at a special meeting called
pursuant to subparagraph (iii) of this Section 3(C) or at any annual meeting of
stockholders, and thereafter at annual meetings of stockholders, provided that
neither such voting right nor the right of the holders of any other series of
Preferred Stock, if any, to increase, in certain cases, the authorized number of
Directors shall be exercised unless the holders of 10% in number of shares of
Preferred Stock outstanding shall be present in person or by proxy. The absence
of a quorum of holders of Common Stock shall not affect the exercise by holders
of Preferred Stock of such voting right. At any meeting at which holders of
Preferred Stock shall exercise such voting right initially during an existing
default period, they shall have the right, voting as a class, to elect Directors
to fill such vacancies, if any, in the Board of Directors as may then exist up
to two Directors or, if such right is exercised at an annual meeting, to elect
two Directors. If the number which may be so elected at any special meeting does
not amount to the required number, the holders of the Preferred Stock shall have
the right to make such increase in the number of

                                      A-3
<PAGE>   39

Directors as shall be necessary to permit the election by them of the required
number. After the holders of the Preferred Stock shall have exercised their
right to elect Directors in any default period and during the continuance of
such period, the number of Directors shall not be increased or decreased except
by vote of the holders of Preferred Stock as herein provided or pursuant to the
rights of any equity securities ranking senior to or pari passu with the Series
A Preferred Stock.

     (iii) Unless the holders of Preferred Stock shall, during an existing
default period, have previously exercised their right to elect Directors, the
Board of Directors may order, or any stockholder or stockholders owning in the
aggregate not less than 10% of the total number of shares of Preferred Stock
outstanding, irrespective of series, may request, the calling of special meeting
of holders of Preferred Stock, which meeting shall thereupon be called by the
President, a Vice President or the Secretary of the Corporation. Notice of such
meeting and of any annual meeting at which holders of Preferred Stock are
entitled to vote pursuant to this paragraph (C)(iii) shall be given to each
holder of record of Preferred Stock by mailing a copy of such notice to him at
his last address as the same appears on the books of the Corporation. Such
meeting shall be called for a time not earlier than 20 days and not later than
60 days after such order or request or in default of the calling of such meeting
within 60 days after such order or request, such meeting may be called on
similar notice by any stockholder or stockholders owning in the aggregate not
less than 10% of the total number of shares of Preferred Stock outstanding,
irrespective of series. Notwithstanding the provisions of this paragraph
(C)(iii), no such special meeting shall be called during the period within 60
days immediately preceding the date fixed for the next annual meeting of
stockholders.

     (iv) In any default period, the holders of Common Stock, and other classes
of stock of the Corporation if applicable, shall continue to be entitled to
elect the whole number of Directors until the holders of Preferred Stock shall
have exercised their right to elect two Directors voting as a class, after the
exercise of which right (x) the Directors so elected by the holders of Preferred
Stock shall continue in office until their successors shall have been elected by
such holders or until the expiration of the default period, and (y) any vacancy
in the Board of Directors may (except as provided in paragraph (C)(ii) of this
Section 3) be filled by vote of a majority of the remaining Directors
theretofore elected by the holders of the class of stock which elected the
Director whose office shall have become vacant. References in this paragraph (C)
to Directors elected by the holders of a particular class of stock shall include
Directors elected by such Directors to fill vacancies as provided in clause (y)
of the foregoing sentence.

     (v) Immediately upon the expiration of a default period, (x) the right of
the holders of Preferred Stock as a class to elect Directors shall cease, (y)
the term of any Directors elected by the holders of Preferred Stock as a class
shall terminate, and (z) the number of Directors shall be such number as may be
provided for in the certificate of incorporation or bylaws irrespective of any
increase made pursuant to the provisions of paragraph (C)(ii) of this Section 3
(such number being subject, however, to change thereafter in any manner provided
by law or in the certificate of incorporation or bylaws). Any vacancies in the
Board of Directors effected by the provisions of clauses (y) and (z) in the
preceding sentence may be filled by a majority of the remaining Directors.

                                      A-4
<PAGE>   40

     (D) The Certificate of Incorporation of the Corporation shall not be
amended in any manner (whether by merger or otherwise) so as to adversely affect
the powers, preferences or special rights of the Series A Preferred Stock
without the affirmative vote of the holders of a majority of the outstanding
shares of Series A Preferred Stock, voting separately as a class.

     (E) Except as otherwise provided herein, holders of Series A Preferred
Stock shall have no special voting rights, and their consent shall not be
required for taking any corporate action.

     Section 4. Certain Restrictions.

     (A) Whenever quarterly dividends or other dividends or distributions
payable on the Series A Preferred Stock as provided in Section 2 are in arrears,
thereafter and until all accrued and unpaid dividends and distributions, whether
or not declared, on outstanding shares of Series A Preferred Stock shall have
been paid in full, the Corporation shall not:

          (i) declare or pay dividends on, or make any other distributions on,
     any shares of stock ranking junior (either as to dividends or upon
     liquidation, dissolution or winding up) to the Series A Preferred Stock;

          (ii) declare or pay dividends on, or make any other distributions on,
     any shares of stock ranking on a parity (either as to dividends or upon
     liquidation, dissolution or winding up) with the Series A Preferred Stock,
     except dividends paid ratably on the Series A Preferred Stock and all such
     other parity stock on which dividends are payable or in arrears in
     proportion to the total amounts to which the holders of all such shares are
     then entitled;

          (iii) redeem, purchase or otherwise acquire for value any shares of
     stock ranking junior (either as to dividends or upon liquidation,
     dissolution or winding up) to the Series A Preferred Stock; provided that
     the Corporation may at any time redeem, purchase or otherwise acquire
     shares of any such junior stock in exchange for shares of stock of the
     Corporation ranking junior (as to dividends and upon dissolution,
     liquidation or winding up) to the Series A Preferred Stock; or

          (iv) redeem, purchase or otherwise acquire for value any shares of
     Series A Preferred Stock, or any shares of stock ranking on a parity
     (either as to dividends or upon liquidation, dissolution or winding up)
     with the Series A Preferred Stock, except in accordance with a purchase
     offer made in writing or by publication (as determined by the Board of
     Directors) to all holders of Series A Preferred Stock and all such other
     parity stock upon such terms as the Board of Directors, after consideration
     of the respective annual dividend rates and other relative rights and
     preferences of the respective series and classes, shall determine in good
     faith will result in fair and equitable treatment among the respective
     series or classes.

                                      A-5
<PAGE>   41

     (B) The Corporation shall not permit any subsidiary of the Corporation to
purchase or otherwise acquire for value any shares of stock of the Corporation
unless the Corporation could, under paragraph (A) of this Section 4, purchase or
otherwise acquire such shares at such time and in such manner.

     Section 5. Reacquired Shares. Any shares of Series A Preferred Stock
redeemed, purchased or otherwise acquired by the Corporation in any manner
whatsoever shall be retired and canceled promptly after the acquisition thereof.
All such shares shall upon their cancellation become authorized but unissued
shares of Preferred Stock without designation as to series and may be reissued
as part of a new series of Preferred Stock to be created by resolution or
resolutions of the Board of Directors as permitted by the Certificate of
Incorporation or as otherwise permitted under Delaware Law.

     Section 6. Liquidation, Dissolution or Winding Up. Upon any liquidation,
dissolution or winding up of the Corporation, no distribution shall be made (1)
to the holders of shares of stock ranking junior (either as to dividends or upon
liquidation, dissolution or winding up) to the Series A Preferred Stock unless,
prior thereto, the holders of shares of Series A Preferred Stock shall have
received $1.00 per share, plus an amount equal to accrued and unpaid dividends
and distributions thereon, whether or not declared, to the date of such payment;
provided that the holders of shares of Series A Preferred Stock shall be
entitled to receive an aggregate amount per share, subject to the provision for
adjustment hereinafter set forth, equal to 1,000 times the aggregate amount to
be distributed per share to holders of Common Stock, or (2) to the holders of
stock ranking on a parity (either as to dividends or upon liquidation,
dissolution or winding up) with the Series A Preferred Stock, except
distributions made ratably on the Series A Preferred Stock and all such other
parity stock in proportion to the total amounts to which the holders of all such
shares are entitled upon such liquidation, dissolution or winding up. If the
Corporation shall at any time after the Rights Declaration Date pay any dividend
on Common Stock payable in shares of Common Stock or effect a subdivision or
combination of the outstanding shares of Common Stock (by reclassification or
otherwise) into a greater or lesser number of shares of Common Stock, then in
each such case the aggregate amount to which holders of shares of Series A
Preferred Stock were entitled immediately prior to such event under the proviso
in clause (1) of the preceding sentence shall be adjusted by multiplying such
amount by a fraction the numerator of which is the number of shares of Common
Stock outstanding immediately after such event and the denominator of which is
the number of shares of Common Stock that were outstanding immediately prior to
such event.

     Section 7. Consolidation, Merger, etc. If the Corporation shall enter into
any consolidation, merger, combination or other transaction in which the shares
of Common Stock are exchanged for or changed into other stock or securities,
cash or any other property, then in any such case the shares of Series A
Preferred Stock shall at the same time be similarly exchanged for or changed
into an amount per share, subject to the provision for adjustment hereinafter
set forth, equal to 1,000 times the aggregate amount of stock, securities, cash
or any other property, as the case may be, into which or for which each share of
Common Stock is changed or exchanged. If the Corporation shall at any time after
the

                                      A-6
<PAGE>   42

Rights Declaration Date pay any dividend on Common Stock payable in shares of
Common Stock or effect a subdivision or combination of the outstanding shares of
Common Stock (by reclassification or otherwise) into a greater or lesser number
of shares of Common Stock, then in each such case the amount set forth in the
preceding sentence with respect to the exchange or change of shares of Series A
Preferred Stock shall be adjusted by multiplying such amount by a fraction the
numerator of which is the number of shares of Common Stock outstanding
immediately after such event and the denominator of which is the number of
shares of Common Stock that were outstanding immediately prior to such event.

     Section 8. No Redemption. The Series A Preferred Stock shall not be
redeemable.

     Section 9. Rank. The Series A Preferred Stock shall rank junior (as to
dividends and upon liquidation, dissolution and winding up) to all other series
of the Corporation's preferred stock except any series that specifically
provides that such series shall rank junior to the Series A Preferred Stock.

     Section 10. Fractional Shares. Series A Preferred Stock may be issued in
fractions of a share which shall entitle the holder, in proportion to such
holder's fractional shares, to exercise voting rights, receive dividends,
participate in distributions and to have the benefit of all other rights of
holders of Series A Preferred Stock.

     IN WITNESS WHEREOF, we have executed and subscribed this Certificate this
__ day of December, 1995.

                                     /s/ Richard G. Mosteller
                                     Senior Vice President - Finance

Attest:

/s/ Eugene A. Gargaro, Jr.
Vice President and Secretary

                                       A-7

<PAGE>   43

                                                                       Exhibit B

                           [Form of Right Certificate]

No. R-                                  ____________Rights

NOT EXERCISABLE AFTER THE EARLIER OF DECEMBER 6, 2005 AND THE DATE ON WHICH THE
RIGHTS EVIDENCED HEREBY ARE REDEEMED OR EXCHANGED BY THE COMPANY AS SET FORTH IN
THE RIGHTS AGREEMENT. AS SET FORTH IN THE RIGHTS AGREEMENT, RIGHTS ISSUED TO, OR
HELD BY, ANY PERSON WHO IS, WAS OR BECOMES AN ACQUIRING PERSON OR AN AFFILIATE
OR ASSOCIATE THEREOF (AS SUCH TERMS ARE DEFINED IN THE RIGHTS AGREEMENT),
WHETHER CURRENTLY HELD BY OR ON BEHALF OF SUCH PERSON OR BY ANY SUBSEQUENT
HOLDER, MAY BE NULL AND VOID. [THE RIGHTS REPRESENTED BY THIS RIGHT CERTIFICATE
ARE OR WERE BENEFICIALLY OWNED BY A PERSON WHO WAS OR BECAME AN ACQUIRING PERSON
OR AN AFFILIATE OR AN ASSOCIATE OF AN ACQUIRING PERSON (AS SUCH TERMS ARE
DEFINED IN THE RIGHTS AGREEMENT). THIS RIGHT CERTIFICATE AND THE RIGHTS
REPRESENTED HEREBY MAY BE OR MAY BECOME NULL AND VOID IN THE CIRCUMSTANCES
SPECIFIED IN SECTION 7(d) OF THE RIGHTS AGREEMENT.][2]

                                RIGHT CERTIFICATE

                                MASCO CORPORATION

         This Right Certificate certifies that ______________________, or
registered assigns, is the registered holder of the number of Rights set forth
above, each of which entitles the holder (upon the terms and subject to the
conditions set forth in the Rights Agreement dated as of December 6, 1995 (the
"Rights Agreement") between Masco Corporation, a Delaware corporation (the
"Company"), and The Bank of New York (the "Rights Agent")) to purchase from the
Company, at any time after the Distribution Date and prior to the Expiration
Date, ___ one-thousandth[s] of a fully paid, nonassessable share of Series A
Participating Cumulative Preferred Stock (the

     [2] If applicable, insert this portion of the legend and delete the
preceding sentence.

                                       B-1
<PAGE>   44
"Preferred Stock") of the Company at a purchase price of $100.00 per one
one-thousandth of a share (the "Purchase Price"), payable in lawful money of the
United States of America, upon surrender of this Right Certificate, with the
form of election to purchase and related certificate duly executed, and payment
of the Purchase Price at an office of the Rights Agent designated for such
purpose.

         Terms used herein and not otherwise defined herein have the meanings
assigned to them in the Rights Agreement.

         The number of Rights evidenced by this Right Certificate (and the
number and kind of shares issuable upon exercise of each Right) and the Purchase
Price set forth above are as of December 18, 1995, and may have been or in the
future be adjusted as a result of the occurrence of certain events, as more
fully provided in the Rights Agreement.

         Upon the occurrence of a Section 11(a)(ii) Event, if the Rights
evidenced by this Right Certificate are beneficially owned by (a) an Acquiring
Person or an Associate or Affiliate of an Acquiring Person, (b) a transferee of
an Acquiring Person (or any such Associate or Affiliate) who becomes a
transferee after the Acquiring Person becomes such, or (c) under certain
circumstances specified in the Rights Agreement, a transferee of an Acquiring
Person (or any such Associate or Affiliate) who becomes a transferee prior to or
concurrently with the Acquiring Person becoming such, such Rights shall become
null and void, and no holder hereof shall have any right with respect to such
Rights from and after the occurrence of such Section 11(a)(ii) Event.

         This Right Certificate is subject to all of the terms, provisions and
conditions of the Rights Agreement, which terms, provisions and conditions are
hereby incorporated herein by reference and made a part hereof and to which
Rights Agreement reference is hereby made for a full description of the rights,
limitations of rights, obligations, duties and immunities hereunder of the
Rights Agent, the Company and the holders of the Right Certificates, which
limitations of rights include the temporary suspension of the exercisability of
such Rights under the specific circumstances set forth in the Rights Agreement.

         Upon surrender at the principal office or offices of the Rights Agent
designated for such purpose and subject to the terms and conditions set forth in
the Rights Agreement, any Rights Certificate or Certificates may be transferred
or exchanged for another Rights Certificate or

                                       B-2

<PAGE>   45
Certificates evidencing a like number of Rights as the Rights Certificate or
Certificates surrendered.

         Subject to the provisions of the Rights Agreement, the Board of
Directors of the Company may, at its option,

          (a) at any time prior to the earlier of (i) the close of business on
     the tenth day after the Stock Acquisition Date (or such later date as a
     majority of the Continuing Directors may designate prior to such time as
     the Rights are no longer redeemable) and (ii) the Final Expiration Date,
     redeem all but not less than all the then outstanding Rights at a
     redemption price of $.01 per Right; or

          (b) at any time after any Person becomes an Acquiring Person (but
     before such Person becomes the Beneficial Owner of 50% or more of the
     shares of Common Stock then outstanding), exchange all or part of the then
     outstanding Rights (other than Rights held by the Acquiring Person and
     certain related Persons) for shares of Common Stock at an exchange ratio of
     one share of Common Stock per Right. If the Rights shall be exchanged in
     part, the holder of this Right Certificate shall be entitled to receive
     upon surrender hereof another Right Certificate or Certificates for the
     number of whole Rights not exchanged.

         No fractional shares of Preferred Stock are required to be issued upon
the exercise of any Right or Rights evidenced hereby (other than fractions which
are multiples of one one-thousandth of a share of Preferred Stock, which may, at
the election of the Company, be evidenced by depositary receipts), but in lieu
thereof a cash payment will be made, as provided in the Rights Agreement. If
this Right Certificate shall be exercised in part, the holder shall be entitled
to receive upon surrender hereof another Right Certificate or Certificates for
the number of whole Rights not exercised.

         No holder of this Right Certificate shall be entitled to vote, receive
dividends or be deemed for any purpose the holder of the shares of capital stock
which may at any time be issuable on the exercise hereof, nor shall anything
contained in the Rights Agreement or herein be construed to confer upon the
holder hereof, as such, any of the rights of a stockholder of the Company or any
right to vote for the election of directors or upon any matter submitted to
stockholders at any meeting thereof, or to give or withhold consent to any
corporate action, or to receive notice of meetings or other actions affecting
stockholders (except as provided in the Rights Agreement), or to receive

                                B-3

<PAGE>   46
dividends or subscription rights, or otherwise, until the Right or Rights
evidenced by this Right Certificate shall have been exercised as provided in the
Rights Agreement.

         This Right Certificate shall not be valid or obligatory for any purpose
until it shall have been countersigned by an authorized signatory of the Rights
Agent.

         IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed under its corporate seal by its authorized officers.

Dated as of ________________, 19__

                                MASCO CORPORATION

                                By______________________
                                     Title:
[SEAL]

Attest:

______________________
  Secretary

Countersigned:

THE BANK OF NEW YORK,
as Rights Agent

By____________________
  Authorized Signature

Date of Countersignature:

______________________

                                B-4

<PAGE>   47
                    Form of Reverse Side of Right Certificate

                               FORM OF ASSIGNMENT

          (To be executed if the registered holder desires to transfer the Right
          Certificate.)

FOR VALUE RECEIVED _______________________________________

hereby sells, assigns and transfers unto _________________

__________________________________________________________
       (Please print name and address of transferee)

__________________________________________________________

this Right Certificate, together with all right, title and interest therein, and
does hereby irrevocably constitute and appoint ______________________ Attorney,
to transfer the within Right Certificate on the books of the within-named
Company, with full power of substitution.

Dated:  _____________________, 19__

                                ___________________________
                                    Signature

Signature Guaranteed:

                                B-5

<PAGE>   48

                                   Certificate

         The undersigned hereby certifies by checking the appropriate boxes
that:

         (1) the Rights evidenced by this Right Certificate ___are ___are not
being assigned by or on behalf of a Person who is or was an Acquiring Person or
an Affiliate or Associate of any such Acquiring Person (as such terms are
defined in the Rights Agreement);

         (2) after due inquiry and to the best knowledge of the undersigned, it
___did ___did not acquire the Rights evidenced by this Right Certificate from
any Person who is, was or became an Acquiring Person or an Affiliate or
Associate of an Acquiring Person.

Dated: __________, 19 __     ________________________
                                    Signature

                                   ----------

         The signatures to the foregoing Assignment and Certificate must
correspond to the name as written upon the face of this Right Certificate in
every particular, without alteration or enlargement or any change whatsoever.

                                   ----------

                                       B-6

<PAGE>   49

                          FORM OF ELECTION TO PURCHASE

       (To be executed if the registered holder desires to exercise Rights
                     represented by the Right Certificate.)

To:  Masco Corporation

     The undersigned hereby irrevocably elects to exercise ____________ Rights
represented by this Right Certificate to purchase shares of Preferred Stock
issuable upon the exercise of the Rights (or such other securities of the
Company or of any other person which may be issuable upon the exercise of the
Rights) and requests that certificates for such securities be issued in the name
of and delivered to:

Please insert social security
or other identifying number

__________________________________________________________
               (Please print name and address)

___________________________________________________________

           If such number of Rights shall not be all the Rights evidenced by
this Right Certificate, a new Right Certificate for the balance of such Rights
shall be registered in the name of and delivered to:

Please insert social security
or other identifying number

__________________________________________________________
                (Please print name and address)

__________________________________________________________

Dated:  ________________, 19__

                                ___________________________
                                    Signature

Signature Guaranteed:

                                       B-7

<PAGE>   50

                                   Certificate

     The undersigned hereby certifies by checking the appropriate boxes that:

     (1) the Rights evidenced by this Right Certificate ___are ___are not being
exercised by or on behalf of a Person who is or was an Acquiring Person or an
Affiliate or Associate of any such Acquiring Person (as such terms are defined
in the Rights Agreement);

     (2) after due inquiry and to the best knowledge of the undersigned, it
___did ___did not acquire the Rights evidenced by this Right Certificate from
any Person who is, was or became an Acquiring Person or an Affiliate or
Associate of an Acquiring Person.

Dated: __________, 19 __     ________________________
                                    Signature

                                   ----------

           The signature to the foregoing Election to Purchase and Certificate
must correspond to the name as written upon the face of this Right Certificate
in every particular, without alteration or enlargement or any change whatsoever.

                                   ----------

                                       B-8
<PAGE>   51

                                                                       Exhibit C

                                MASCO CORPORATION

                             STOCKHOLDER RIGHTS PLAN

                                Summary of Terms

Form of Security:                  The Board of Directors has declared
                                   a dividend of one preferred stock
                                   purchase right for each outstanding
                                   share of the Company's Common
                                   Stock, payable to holders of record
                                   as of the close of business on
                                   December 18, 1995 (each a "Right"
                                   and collectively, the "Rights")

Transfer:                          Prior to the Distribution Date[3],
                                   the Rights will be evidenced by the
                                   certificates for and will be

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

[3]  "Distribution Date" means the earlier of:

                                   (1) the 10th day after public announcement
                                   that any person or group has become the
                                   beneficial owner of 15% or more of the
                                   Company's Common Stock and

                                   (2) the 10th business day after the date of
                                   the commencement of a tender or exchange
                                   offer by any person which would, if
                                   consummated, result in such person becoming
                                   the beneficial owner of 15% or more of the
                                   Company's Common Stock,

                                   in each case, subject to extension
                                   by a majority of the Continuing
                                   Directors.

                                   "Continuing Director" means any member of the
                                   Board of Directors who was a member of the
                                   Board prior to the time an Acquiring Person
                                   (as defined below) becomes such or any person
                                   who is subsequently elected to the Board if
                                   such person is recommended or approved by a
                                   majority of the Continuing Directors.
                                   Continuing Directors do not include an
                                   Acquiring Person, an affiliate or associate
                                   of any Acquiring Person or any representative
                                   or nominee of the foregoing.

                                       C-1

<PAGE>   52

                                   transferred with the Common Stock, and the
                                   registered holders of the Common Stock will
                                   be deemed to be the registered holders of the
                                   Rights.

                                   After the Distribution Date, the Rights Agent
                                   will mail separate certificates evidencing
                                   the Rights to each record holder of the
                                   Common Stock as of the close of business on
                                   the Distribution Date, and thereafter the
                                   Rights will be transferable separately from
                                   the Common Stock.

Exercise:                          Prior to the Distribution Date, the
                                   Rights will not be exercisable.

                                   After the Distribution Date, each Right will
                                   be exercisable to purchase, for $100.00 (the
                                   "Purchase Price"), one one-thousandth of a
                                   share of Series A Participating Cumulative
                                   Preferred Stock, par value 1.00 per share, of
                                   the Company.

Flip-In:                           If any person or group (an
                                   "Acquiring Person") becomes the
                                   beneficial owner of 15% or more of
                                   the Company's Common Stock, then
                                   each Right (other than Rights
                                   beneficially owned by the Acquiring
                                   Person and certain affiliated
                                   persons) will entitle the holder to
                                   purchase, for the Purchase Price, a
                                   number of shares of the Company's
                                   Common Stock having a market value
                                   of twice the Purchase Price.

Flip-Over:                         If, after any person has become an
                                   Acquiring Person, (1) the Company
                                   is involved in a merger or other
                                   business combination in which the
                                   Company is not the surviving
                                   corporation or its Common Stock is
                                   exchanged for other securities or
                                   assets or (2) the Company and/or
                                   one or more of its subsidiaries
                                   sell or otherwise transfer assets
                                   or earning power aggregating more
                                   than 50% of the assets or earning
                                   power of the Company and its
                                   subsidiaries, taken as a whole,
                                   then each Right will

                                       C-2

<PAGE>   53
                                   entitle the holder to purchase, for the
                                   Purchase Price, a number of shares of common
                                   stock of the other party to such business
                                   combination or sale (or in certain
                                   circumstances, an affiliate) having a market
                                   value of twice the Purchase Price.

Exchange:                          At any time after any person has
                                   become an Acquiring Person (but
                                   before any person becomes the
                                   beneficial owner of 50% or more of
                                   the Company's Common Stock), a
                                   majority of the Continuing
                                   Directors may exchange all or part
                                   of the Rights (other than the
                                   Rights beneficially owned by the
                                   Acquiring Person and certain
                                   affiliated persons) for shares of
                                   Common Stock at an exchange ratio
                                   of one share of Common Stock per
                                   Right.

Redemption:                        The Board of Directors may redeem
                                   all of the Rights at a price of
                                   $.01 per Right at any time prior to
                                   the close of business on the 10th
                                   day after public announcement that
                                   any person has become an Acquiring
                                   Person (subject to extension by a
                                   majority of the Continuing
                                   Directors).

                                   After any person has become an Acquiring
                                   Person, the Rights may be redeemed only with
                                   the approval of a majority of the Continuing
                                   Directors.

Expiration:                        The Rights will expire on December
                                   6, 2005, unless earlier exchanged
                                   or redeemed.

                                      C-3

<PAGE>   54
Amendments:                        Prior to the Distribution Date, the
                                   Rights Agreement may be amended in
                                   any respect.

                                   After the Distribution Date, the Rights
                                   Agreement may be amended in any respect that
                                   does not adversely affect the Rights holders
                                   (other than any Acquiring Person and certain
                                   affiliated persons).

                                   After any person has become an Acquiring
                                   Person, the Rights Agreement may be amended
                                   only with the approval of a majority of the
                                   Continuing Directors.

Voting Rights:                     Rights holders have no rights as a
                                   stockholder of the Company,
                                   including the right to vote and to
                                   receive dividends.

Antidilution                       The Rights Agreement includes
Provisions:                        antidilution provisions designed to
                                   prevent efforts to diminish the
                                   efficacy of the Rights.

Taxes:                             While the dividend of the Rights
                                   will not be taxable to stockholders
                                   or to the Company, stockholders or
                                   the Company may, depending upon the
                                   circumstances, recognize taxable
                                   income in the event that the Rights
                                   become exercisable as set forth
                                   above.

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

A copy of the Rights Agreement has been filed with the Securities and Exchange
Commission as an Exhibit to a Registration Statement on Form 8-A. A copy of the
Rights Agreement is available free of charge from the Company. This summary
description of the Rights does not purport to be complete and is qualified in
its entirety by reference to the Rights Agreement.

                                       C-4

<PAGE>   55
                                                                     Exhibit 4.b
                                                                 Amendment No. 1

                       AMENDMENT NO. 1 TO RIGHTS AGREEMENT

         AMENDMENT NO. 1 dated as of September 23, 1998 to the Rights Agreement
dated as of December 6, 1995 (the "RIGHTS AGREEMENT") between Masco Corporation,
a Delaware corporation (the "COMPANY"), and The Bank of New York, as Rights
Agent (the "RIGHTS AGENT").

                               W I T N E S S E T H

         WHEREAS, the parties hereto desire to amend the Rights Agreement in
certain respects;

         NOW, THEREFORE, the parties hereto agree as follows:

         SECTION 1. Defined Terms; References. (a) Unless otherwise specifically
defined herein, each term used herein which is defined in the Rights Agreement
has the meaning assigned to such term in the Rights Agreement. Each reference to
"hereof", "hereunder", "herein" and "hereby" and each other similar reference
and each reference to "this Agreement" and each other similar reference
contained in the Rights Agreement shall, after this Agreement becomes effective,
refer to the Rights Agreement as amended hereby.

         (b) Section 1 of the Rights Agreement is hereby amended by deleting the
definition of "Continuing Directors" contained therein.

         (c) Section 1 of the Rights Agreement is hereby amended by restating in
its entirety the following definition to read in full as follows:

                  "ACQUIRING PERSON" means any Person who, together with all
                  Affiliates and Associates of such Person, shall be the
                  Beneficial Owner of 15% or more of the shares of Common Stock
                  then outstanding, but shall not include the Company, any of
                  its Subsidiaries, any employee benefit plan of the Company or
                  any of its Subsidiaries or any Person organized, appointed or
                  established by the Company or any of its Subsidiaries for or
                  pursuant to the terms of any such plan; provided, however,
                  that

                           (a) if the majority of Directors determines (whether
                           prior to or after the date that in the absence of
                           such determination would be a Distribution Date) in
                           good faith that a Person who otherwise would be an
                           "Acquiring Person" became such inadvertently, and if
                           such Person as promptly as practicable divests itself
                           of Beneficial Ownership of a sufficient number of
                           shares of Common Stock so that such Person is no
                           longer an "Acquiring Person," then such Person shall
                           not be deemed to be or to have become an "Acquiring
                           Person" for any purposes of this Agreement; and

                           (b) no Person shall become an "Acquiring Person"
                           solely as a result of an acquisition of shares of
                           Common Stock by the Company which, by reducing the
                           number of shares of Common Stock outstanding,
                           increases the proportionate number of shares of
                           Common Stock beneficially owned by such Person
                           (together with any Affiliate and Associate of such
                           Person) to 15% or more of the shares of Common Stock
                           then outstanding;
<PAGE>   56
                           provided, however, that if a Person shall become the
                           Beneficial Owner of 15% or more of the shares of
                           Common Stock then outstanding by reason of such share
                           acquisition by the Company and shall thereafter
                           (together with any Affiliate and Associate) become
                           the Beneficial Owner of any additional shares of
                           Common Stock (other than pursuant to a stock
                           dividend, stock split, recapitalization or similar
                           transaction that does not affect the percentage of
                           outstanding Common Stock beneficially owned by such
                           Person) which causes the proportionate number of
                           shares of Common Stock beneficially owned by such
                           Person to increase to 15% or more of the shares of
                           Common Stock then outstanding, then such Person shall
                           be deemed to be an "Acquiring Person".

         (d) Section 1 of the Rights Agreement is hereby amended by deleting
from the definition of "Distribution Date" both instances of the word
"Continuing".

         SECTION 2. Exercise of Rights; Expiration Date of Rights. Section 7(d)
of the Rights Agreement is hereby amended by inserting the words "a majority of"
after the words "a transfer which" and deleting the word "Continuing" from
clause (iii)(B) in the first sentence thereof.

         SECTION 3. Adjustment of Purchase Price, Number and Kind of Shares or
Number of Rights. Section 11 of the Rights Agreement is hereby amended by:

         (a) replacing the words "a majority of the Continuing Directors has
determined to be" in the first sentence of subsection (a)(iii) thereof with the
word "are";

         (b) replacing each instance of the words "(as determined by the
Continuing Directors based upon the advice of a nationally recognized investment
banking firm selected by the Continuing Directors)" in subsection (a)(iii)
thereof with the words "(based upon the advice of a nationally recognized
investment banking firm)";

         (c) deleting the second sentence of subsection (a)(iii) thereof;

         (d) replacing the words "first and/or second sentence of this Section
11(a)(iii):" in the third sentence of subsection (a)(iii) thereof with the words
"preceding sentence";

         (e) replacing the words "Substitution Period in order to seek any
authorization of additional shares and/or" in the third sentence of subsection
(a)(iii) thereof with the words "30-day period set forth above in order";

         (f) replacing the words "such first and/or second" in the third
sentence of subsection (a)(iii) thereof with the words "the preceding";

         (g) deleting the words ", or, if at the time of such selection there is
an Acquiring Person, by a majority of the Continuing Directors" from the second
sentence of subsection (d)(i) thereof;

         (h) replacing the words "majority of the Continuing Directors" in the
third sentence of subsection (d)(i) thereof with the words "nationally
recognized investment banking firm";
<PAGE>   57
         (i) deleting the words "by a majority of the Continuing Directors, or,
if there are no Continuing Directors," from the fourth sentence of subsection
(d)(i) thereof;

         (j) deleting the words "selected by the Board of Directors" from the
fourth sentence of subsection (d)(i) thereof;

         (k) deleting the words "by a majority of the Continuing Directors then
in office, or, if there are no Continuing Directors," from subsection (d)(iii)
thereof; and

         (l) deleting the words "selected by the Board of Directors" from
subsection (d)(iii) thereof.

         SECTION 4. Fractional Rights and Fractional Shares. Section 14(a) of
the Rights Agreement is hereby amended by:

         (a) deleting the words ", or, if at the time of such selection there is
an Acquiring Person, by a majority of the Continuing Directors" from the
penultimate sentence thereof; and

         (b) replacing the words "majority of the Continuing Directors" in the
last sentence thereof with the words "nationally recognized investment banking
firm.

         SECTION 5. Redemption. Section 23(a) of the Rights Agreement is hereby
amended by:

         (a) deleting the word "Continuing" in the first sentence thereof; and

         (b) deleting the proviso from the first sentence thereof and the
semicolon immediately preceding such proviso.

         SECTION 6. Exchange. (a) Section 24(a) of the Rights Agreement is
hereby amended by deleting the word "Continuing" in the first sentence thereof.

         (b) Section 24(b) of the Rights Agreement is hereby amended by
replacing the word "Continuing" in the first sentence thereof with the words
"majority of the".

         SECTION 7. Supplements and Amendments. Section 27 of the Rights
Agreement is hereby amended in its entirety to read in full as follows:

         Prior to the Distribution Date, the Company may, and the Rights Agent
shall, if the Company so directs, supplement or amend any provision of this
Agreement in any respect without the approval of any holders of certificates
representing shares of Common Stock. At any time when the Rights are no longer
redeemable, the Company may, and the Rights Agent shall if the Company so
directs, supplement or amend this Agreement without the approval of any holders
of Right Certificates in order to cure any ambiguity or correct or supplement
any provision contained herein which may be defective or inconsistent with any
other provisions herein; provided that no such supplement or amendment may (a)
adversely affect the interests of the holders of Rights as such (other than an
Acquiring Person or an Affiliate or Associate of an Acquiring Person), (b) cause
<PAGE>   58
this Agreement again to become amendable other than in accordance with this
sentence, or (c) cause the Rights again to become redeemable. Upon the delivery
of a certificate from an appropriate officer of the Company which states that
the proposed supplement or amendment is in compliance with the terms of this
Section, the Rights Agent shall execute such supplement or amendment. Prior to
the Distribution Date, the interest of the holders of Rights shall be deemed
coincident with the interests of the holders of Common Stock.

         SECTION 8. Determination and Actions by the Board of Directors, Etc.
Section 29 of the Rights Agreement is hereby amended by:

         (a) deleting the first parenthetical clause from the second sentence
thereof; and

         (b) deleting the second parenthetical clause and the words "or the
Continuing Directors" from the last sentence thereof.

         SECTION 9. Severability. Section 31 of the Rights Agreement is hereby
amended by deleting the proviso contained therein and the semicolon that
immediately precedes such proviso.

         SECTION 10. Form of Right Certificate. Exhibit B to the Rights
Agreement is hereby amended by deleting the work "Continuing" in subparagraph
(a) of the seventh paragraph thereof.

         SECTION 11. Summary of Terms. Exhibit C to the Rights Agreement is
hereby amended by:

         (a) deleting the words "Continuing" from the first sentence of the
footnote thereto;

         (b) deleting the second and third sentences of the footnote thereto;

         (c) deleting the word "Continuing" under the heading "Exchange";

         (d) deleting both instances of the word "Continuing" under the heading
"Redemption".

         (e) restating the language under the heading "Amendments" in its
entirety to read in full as follows:

         Prior to the Distribution Date, the Rights Agreement may be amended in
any respect.

         After the Distribution Date, the Rights Agreement may be amended by the
Board of Directors in any respect that does not (i) adversely affect the Rights
holders (other than any Acquiring Person and certain affiliated persons), (ii)
cause the Rights Agreement again to become amendable other than in accordance
with this paragraph or (iii) cause the Rights again to become redeemable.

         SECTION 12. Governing Law. This Amendment shall be governed by and
construed in accordance with the laws of the State of Delaware without regard to
any applicable conflicts of law rules, except that the rights and obligations of
the Rights Agent shall be governed by the laws of the State of New York.
<PAGE>   59
         SECTION 13. Counterparts. This Amendment may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument.

         SECTION 14. Effectiveness. This Amendment shall become effective by
each of the parties hereto of a counterpart hereof.

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

                                        MASCO CORPORATION

                                        By:  /s/Richard A. Manoogian
                                             -----------------------------------
                                                Name: Richard A. Manoogian
                                                Title:   Chairman

                                        THE BANK OF NEW YORK

                                        By:  /s/John Sivertsen
                                             -----------------------------------
                                                Name:  John Sivertsen
                                                Title:    Vice President<PAGE>   1
                                                                     Exhibit 4.g

                             SHAREHOLDERS AGREEMENT

                                  BY AND AMONG

                                 MASCOTECH, INC.

                                MASCO CORPORATION

                                RICHARD MANOOGIAN

                      RICHARD AND JANE MANOOGIAN FOUNDATION

                      THE HEARTLAND ENTITIES LISTED ON THE
                             SIGNATURE PAGES HERETO

            THE HIP CO-INVESTORS LISTED ON THE SIGNATURE PAGES HERETO

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

                          DATED AS OF NOVEMBER 28, 2000
                 -----------------------------------------------
<PAGE>   2
                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                                   Page
                                                                                                                   ----
<S>                                                                                                                <C>
                                    ARTICLE I

                       DEFINITIONS; RULES OF CONSTRUCTION

SECTION 1.01.         Definitions............................................................................        1
SECTION 1.02.         Rules of Construction..................................................................       10

                                   ARTICLE II

                         REPRESENTATIONS AND WARRANTIES

SECTION 2.01.         Authority; Enforceability..............................................................       10
SECTION 2.02.         No Breach..............................................................................       10
SECTION 2.03.         Consents...............................................................................       11
SECTION 2.04.         Share Ownership........................................................................       11

                                   ARTICLE III

                                 SHARE TRANSFERS

SECTION 3.01.         Restrictions on Transfer...............................................................       12
SECTION 3.02.         Exceptions to Restrictions.............................................................       12
SECTION 3.03.         Improper Transfer......................................................................       13
SECTION 3.04.         Restrictive Legend.....................................................................       13

                                   ARTICLE IV

                         RIGHTS OF CERTAIN SHAREHOLDERS

SECTION 4.01.         Rights of First Offer..................................................................       13
SECTION 4.02.         Tag-Along Rights.......................................................................       15
SECTION 4.03.         Drag-Along Rights......................................................................       17
SECTION 4.04.         Information............................................................................       17
SECTION 4.05.         Preemptive Rights......................................................................       20
SECTION 4.06.         Board of Directors.....................................................................       23
SECTION 4.07.         Right to Observer......................................................................       24
SECTION 4.08.         Consultation Right.....................................................................       25
SECTION 4.09.         Approval Rights........................................................................       25
SECTION 4.10.         Transactions with Affiliates...........................................................       26
</TABLE>

                                       -i-
<PAGE>   3
<TABLE>
<CAPTION>
                                                                                                                   Page
                                                                                                                   ----
<S>                                                                                                                <C>

                                    ARTICLE V

                               REGISTRATION RIGHTS

SECTION 5.01.         Company Registration...................................................................       27
SECTION 5.02.         Demand Registration Rights.............................................................       28
SECTION 5.03.         Registration Procedures................................................................       31
SECTION 5.04.         Registration Expenses..................................................................       36
SECTION 5.05.         Indemnification........................................................................       37
SECTION 5.06.         1934 Act Reports.......................................................................       39
SECTION 5.07.         Holdback Agreements....................................................................       39
SECTION 5.08.         Participation in Registrations.........................................................       40
SECTION 5.09.         Remedies...............................................................................       41
SECTION 5.10.         Other Registration Rights..............................................................       41
SECTION 5.11.         Rule 144...............................................................................       41

                                   ARTICLE VI

                  RIGHTS OF HOLDERS OF CLASS A PREFERRED STOCK

SECTION 6.01.         Series A Preferred Stock...............................................................       41
SECTION 6.02.         Management Fee.........................................................................       42

                                   ARTICLE VII

                                  MISCELLANEOUS

SECTION 7.01.         Notices................................................................................       42
SECTION 7.02.         Binding Effect; Benefits; Entire Agreement.............................................       42
SECTION 7.03.         Waiver.................................................................................       42
SECTION 7.04.         Amendment..............................................................................       43
SECTION 7.05.         Assignability..........................................................................       43
SECTION 7.06.         Applicable Law.........................................................................       43
SECTION 7.07.         Specific Performance...................................................................       43
SECTION 7.08.         Severability...........................................................................       44
SECTION 7.09.         Additional Securities Subject to Agreement.............................................       44
SECTION 7.10.         Name Change............................................................................       44
SECTION 7.11.         Section and Other Headings.............................................................       44
SECTION 7.12.         Counterparts...........................................................................       44
SECTION 7.13.         Termination of Certain Provisions......................................................       44
SECTION 7.14.         ERISA Matters..........................................................................       45
SECTION 7.15.         Regulatory Cooperation.................................................................       45
SECTION 7.16.         Publicity..............................................................................       45
SECTION 7.17.         Expenses...............................................................................       45
</TABLE>

                                      -ii-
<PAGE>   4
                             SHAREHOLDERS AGREEMENT

                  THIS AGREEMENT (the "Agreement"), dated as of November 28,
2000, by and among MASCOTECH, INC. a Delaware corporation (the "Company"),
Richard Manoogian ("IS"), the Richard and Jane Manoogian Foundation ("Foundation
Shareholder" and, together with IS, "RM"), MASCO CORPORATION, a Delaware
corporation (together with RM, the "Rollover Investors"), the HEARTLAND ENTITIES
(as defined herein), LONG POINT CAPITAL FUND, L.P. and LONG POINT CAPITAL
PARTNERS L.L.C. (collectively "Long Point"), CRM 1999 ENTERPRISE FUND, LLC
("Cramer" and with Long Point collectively the "Masco Transferees" or
individually as a "Masco Transferee") and the entities identified as HIP
CO-INVESTORS on the signature pages hereof (the HIP Co-Investors (including,
without limitation, the Masco Transferees), the Rollover Investors, Sponsor and
each Person executing a Joinder Agreement are collectively referred to herein as
the "Shareholders" and individually as a "Shareholder").

                  WHEREAS, the Company and Riverside Acquisition Corporation
(formerly Riverside Company LLC), a Delaware corporation ("Riverside") and an
affiliate of Sponsor, have entered into a Recapitalization Agreement, dated as
of August 1, 2000, as amended by Amendment No. 1 thereto, dated as of October
23, 2000, and Amendment No. 2 thereto, dated as of November 28, 2000 (the
"Recapitalization Agreement"), which provides for, among other things, the
merger of Riverside with and into the Company (the "Recapitalization Merger").

                  WHEREAS, as a result of and in connection with the
Recapitalization Merger, each Shareholder will own the number of shares of
common stock of the Company, $1.00 par value (the "Common Stock"), set forth on
Schedule 2.04 hereto and Company Shareholder will own 361,001 shares of class A
preferred stock of the Company, $1.00 par value (the "Class A Preferred Stock").

                  WHEREAS, the parties hereto desire to enter into this
agreement to provide for certain rights and restrictions with respect to the
Common Stock.

                  NOW, THEREFORE, in consideration of the mutual covenants and
agreements contained herein, the parties mutually agree as follows:

                                    ARTICLE I

                       DEFINITIONS; RULES OF CONSTRUCTION

                  SECTION 1.01. Definitions. The following terms, as used
herein, have the following meanings:
<PAGE>   5
                                      -2-

                  "ADJUSTMENTS" means adjustments to the number of shares of
Common Stock outstanding as a result of a stock split, stock dividend,
reclassification, subdivision or reorganization, recapitalization or similar
event.

                  "ADVICE" see Section 5.03(p).

                  "AFFILIATE" of any specified Person means any other Person
directly or indirectly controlling, controlled by or under direct or indirect
common control with such specified Person. For the purposes of this definition,
"control" when used with respect to any Person means the power to direct the
management and policies of such Person, directly or indirectly, whether through
the ownership of voting securities, by contract or otherwise; and the terms
"controlling" and "controlled" have meanings correlative to the foregoing.

                  "AGREEMENT" see the recitals to this Agreement.

                  "ASSIGNEE" see Section 4.01(c).

                  "BUSINESS DAY" means each Monday, Tuesday, Wednesday, Thursday
and Friday which is not a day on which banking institutions in the City of New
York are authorized or obligated by law or executive order to close.

                  "CAPITAL STOCK" means, with respect to any Person, except as
otherwise provided in Section 4.05, any and all shares, interests,
participations, rights in or other equivalents (however designated) of such
Person's capital stock, and any rights (other than debt securities convertible
into capital stock), warrants or options exchangeable for or convertible into
such capital stock.

                  "CLASS A PREFERRED STOCK" see the recitals to this Agreement.

                  "COMMISSION" means the Securities and Exchange Commission.

                  "COMMON STOCK" see the recitals to this Agreement.

                  "COMPANY" see the recitals to this Agreement.

                  "COMPANY OPTION PERIOD" see Section 4.01(b).

                  "COMPANY SHAREHOLDER" means Masco Corporation, a Delaware
corporation, provided that upon the transfer of all of Masco Corporation's
shares of Common Stock to Masco Capital Corporation, a wholly-owned subsidiary
of Masco Corporation, Masco Capital Corporation shall also be deemed Company
Shareholder for all purposes of this Agreement; provided that Masco Capital
Corporation executes a Joinder Agreement.
<PAGE>   6
                                      -3-

                  "CSFB" means, collectively, the CSFB Plan Partner and the CSFB
Funds, or the CSFB Plan Partner acting on behalf of such other Persons.

                  "CSFB DIRECTOR" see Section 4.06(a)(ii)(c).

                  "CSFB FUNDS" means, collectively, Credit Suisse First Boston
Equity Partners (Bermuda), L.P., Credit Suisse First Boston U.S. Executive
Advisors, L.P., EMA Partners Fund 2000, L.P. and EMA Private Equity Fund 2000,
L.P.

                  "CSFB PLAN PARTNER" means Credit Suisse First Boston Equity
Partners, L.P.

                  "DEMAND HOLDERS" means any of Company Shareholder (on behalf
of itself and its Direct Permitted Transferees), RM (on behalf of himself,
itself and his or its Direct Permitted Transferees), a QI Demand Holder (on
behalf of itself and its Direct Permitted Transferees), CSFB (on behalf of
itself and its Direct Permitted Transferees and other Transferees to the extent
permitted by Section 5.02(g)) or Sponsor (on behalf of itself and its Direct
Permitted Transferees).

                  "DEMAND REGISTRATION" see Section 5.02(a).

                  "DIRECT PERMITTED TRANSFEREE" means:

         (i) with respect to any Shareholder who is a natural person, (1) the
         spouse or any lineal descendant (including by adoption and
         stepchildren) of such Shareholder, (2) any trust of which such
         Shareholder is the trustee and which is established solely for the
         benefit of any of the foregoing individuals or (3) any partnership, all
         of the general partner(s) and limited partner(s) (if any) of which are
         one or more Persons identified in this clause (i);

         (ii)     with respect to Sponsor, any Affiliate of Sponsor;

         (iii) with respect to Company Shareholder, any controlled Affiliate of
         Company Shareholder (including any wholly-owned subsidiary of Company
         Shareholder);

         (iv) with respect to any Institutional Shareholder, any Affiliate of
         such Institutional Shareholder;

         (v) with respect to Foundation Shareholder, any Affiliate of Foundation
         Shareholder;

         (vi) with respect to MetLife, (a) any Affiliates of MetLife or (b)
         Portfolio Advisors, LLC or any controlled Affiliate of Portfolio
         Advisors, LLC; and
<PAGE>   7
                                      -4-

         (vii) with respect to any Shareholder, any institutional lender to
         which such Shareholder pledges or grants a security interest in shares
         of Common Stock in a bona fide transaction effected in good faith,
         provided that (x) such pledgee executes a Joinder Agreement and (y)
         prior to any subsequent foreclosure or sale of such shares or any
         Transfer resulting from such foreclosure is effected, the provisions of
         Section 4.01 must be satisfied.

                  "ELIGIBLE OFFERING" see Section 4.05(a).

                  "FIRST OPTION" see Section 4.01(b).

                  "FIRST UNION CAPITAL PARTNERS" means First Union Capital
Partners, LLC.

                  "FOUNDATION SHAREHOLDER" see the recitals to this Agreement.

                  "GAAP" means United States generally accepted accounting
principles consistently applied throughout the specified period.

                  "HEARTLAND ENTITIES" means Heartland Industrial Partners,
L.P., Heartland Industrial Partners (FF), L.P., Heartland Industrial Partners
(E1), L.P., Heartland Industrial Partners (K1), L.P., Heartland Industrial
Partners (C1), L.P. and Direct Permitted Transferees of any of the foregoing.

                  "HIP CO-INVESTOR" means (i) each Shareholder that is a limited
partner, or an Affiliate of a limited partner, in Sponsor or in any other fund
or investment vehicle established or managed by Sponsor or an Affiliate of
Sponsor, (ii) CSFB, (iii) each Masco Transferee and (iv) MetLife; provided that,
upon the Transfer by MetLife of all of its shares of Common Stock to Portfolio
Advisors, LLC or any controlled Affiliate of Portfolio Advisors, LLC in
accordance with Section 3.02(a) of this Agreement, Portfolio Advisors, LLC or
such controlled Affiliate of Portfolio Advisors, LLC shall be deemed to be a HIP
Co-Investor under this Agreement.

                  "HOLDER" means any Demand Holder or Incidental Demand Holder.

                  "INCIDENTAL DEMAND HOLDER" see Section 5.02.

                  "INITIAL PUBLIC OFFERING" means either (x) an underwritten
initial public offering of the Company pursuant to an effective registration
statement filed under the 1933 Act (excluding registration statements filed on
Form S-8, or any similar successor form or another form used for a purpose
similar to the intended use for such forms) or (y) the listing of the Common
Stock on a national securities exchange or authorization for quotation on the
Nasdaq National Market System.
<PAGE>   8
                                      -5-

                  "INSTITUTIONAL SHAREHOLDER" means any Shareholder that is not
a natural person (other than Company Shareholder, Foundation Shareholder or
Sponsor).

                  "INVESTORS" see Section 4.01(a).

                  "INVESTOR'S NOTICE" see Section 4.01(a).

                  "IS" see the recitals to this Agreement.

                  "JOINDER AGREEMENT" means a joinder agreement, a form of which
is attached hereto as Exhibit A.

                  "MASCO TRANSFEREES" see the recitals to this Agreement.

                  "MATERIAL EVENT" see Section 4.09(a).

                  "METLIFE" means Metropolitan Life Insurance Company.

                  "1933 ACT" means the Securities Act of 1933.

                  "1934 ACT" means the Securities Exchange Act of 1934, as
amended.

                  "OBSERVER" see Section 4.07.

                  "OFFERED SHARES" see Section 4.01(a).

                  "PERMITTED TRANSFEREE" means:

         (i) with respect to any Shareholder who is a natural person, (1) the
         spouse or any lineal descendant (including by adoption and
         stepchildren) of such Shareholder, (2) any trust of which such
         Shareholder is the trustee and which is established solely for the
         benefit of any of the foregoing individuals, (3) any charitable
         foundation selected by such Shareholder, or (4) any partnership, all of
         the general partner(s) and limited partner(s) (if any) of which are one
         or more Persons identified in this clause (i), provided that, in the
         case of clauses (1), (2), (3) or (4), such Person executes a Joinder
         Agreement;

         (ii) with respect to Sponsor, (a) any investor in Sponsor or an
         Affiliate of such investor in Sponsor or an investor in any fund or
         other investment vehicle established or managed by Sponsor or any of
         its controlled Affiliates or any other Person which is an Affiliate of
         Sponsor on the date hereof, (b) any of the Shareholders and any of
         their respective Affiliates, (c) any controlled Affiliate of Sponsor,
         and (d) any investor in Sponsor that is an investment fund in
         connection with a pro rata distribution of shares of Common Stock to
         all investors in Sponsor at the time of the
<PAGE>   9
                                      -6-

         expiration or termination of the fund, provided that, in the case of
         clauses (a), (b), (c) or (d), any such investor executes a Joinder
         Agreement; and provided, further, that, in the case of these clauses
         (a), (b) or (c) Transfers to such Persons would not cause Sponsor to
         own, together with its Affiliates, a number of shares equal to less
         than thirty percent (30%) of the outstanding shares of Common Stock of
         the Company as of the date of any such Transfer;

         (iii) with respect to Company Shareholder, any controlled Affiliate of
         Company Shareholder (including any wholly-owned subsidiary of Company
         Shareholder), provided that such Affiliate or wholly-owned subsidiary
         executes a Joinder Agreement;

         (iv) with respect to any Institutional Shareholder (other than
         MetLife), (a) any Affiliate of such Institutional Shareholder, (b) any
         investor of such Institutional Shareholder that is an investment fund
         in connection with a pro rata distribution of shares of Common Stock to
         all investors (a "Shareholder Investor" or collectively "Shareholder
         Investors") in such Institutional Shareholder at the time of the
         expiration or termination of the fund, or (c) any Person acquiring all
         or substantially all of the investment portfolio of such Institutional
         Holder; and provided, further, that, in the case of clause (a), (b) or
         (c), all such investors execute a Joinder Agreement;

         (v) with respect to Foundation Shareholder, any Affiliate of Foundation
         Shareholder, provided such Affiliate executes a Joinder Agreement;

         (vi) with respect to MetLife, (a) any Affiliate of MetLife, (b)
         Portfolio Advisors, LLC or any controlled Affiliate of Portfolio
         Advisors, LLC or (c) any Shareholder Investor of such Institutional
         Shareholder that is an investment fund in connection with a pro rata
         distribution to all Shareholder Investors of such Institutional
         Shareholder at the time of the expiration or termination of the fund;
         provided, further, that, in the case of clause (a), (b) or (c), such
         investors execute a Joinder Agreement; and

         (vii) with respect to any Shareholder, any institutional lender to
         which such Shareholder pledges or grants a security interest in shares
         of Common Stock in a bona fide transaction effected in good faith,
         provided that (x) such pledgee executes a Joinder Agreement and (y)
         prior to any subsequent foreclosure or sale of such shares or any
         Transfer resulting from such foreclosure is effected, the provisions of
         Section 4.01 must be satisfied.

                  "PERSON" means an individual, a corporation, a partnership, an
association, a trust or any other entity or organization, including a
government, a political subdivision or an agency or instrumentality thereof.
<PAGE>   10
                                      -7-

                  "PIGGYBACK HOLDER" see Section 5.01(a).

                  "PIGGYBACK REGISTRATION" see Section 5.01(a).

                  "PROPORTIONATE PERCENTAGE" see Section 4.05(a).

                  "PRO RATA PORTION" means, with respect to shares of Common
Stock held by a Shareholder at any date of determination such number of shares
of Common Stock owned by such Shareholder as would result in such Shareholder
selling the same percentage of the total number of shares of Common Stock held
by such Shareholder in the Transfer subject to the applicable Transfer Notice
(the "Subject Sale") as the Sponsor Transferor sells in the Subject Sale
(assuming, with respect to the Transfer Notice, that all Shareholders have
exercised their Tag-Along Right).

                  "PUBLIC OFFERING" see Section 4.05(a)(i).

                  "PURCHASER" see Section 4.02(a).

                  "QI DEMAND HOLDER" means any Qualified Investor other than
CSFB.

                  "QUALIFIED INVESTOR" means a HIP Co-Investor who (x), together
with its Affiliates, at or prior to any date of determination, has made an
aggregate cash investment in Common Stock of the Company equal to at least $40.0
million (based upon the original cost of such investment) or (y) owns, together
with its Direct Permitted Transferees, at least 10% or more of the outstanding
shares of Common Stock of the Company at the date of determination. For purposes
of this definition and any other definitions containing thresholds for the
dollar amount of cash invested in Common Stock of the Company or the percentage
ownership of Common Stock of the Company, the cash investments and the
beneficial ownership of the CSFB Funds and the CSFB Plan Partner will be deemed
to be aggregated.

                  "QUALIFYING PUBLIC EQUITY OFFERING" means either (x) one or
more underwritten public offerings of common equity securities of the Company
pursuant to an effective registration statement filed under the 1933 Act
(excluding registration statements filed on Form S-8, or any similar successor
form) resulting in aggregate gross proceeds to the Company of $100,000,000 or
more or (y) the listing of the Common Stock on a national securities exchange or
authorization for quotation on the Nasdaq National Market System for which there
is a public float of least $100,000,000 held by non-Affiliates of the Company.

                  "RECAPITALIZATION AGREEMENT" see the recitals to this
Agreement.

                  "RECAPITALIZATION MERGER" see the recitals to this Agreement.
<PAGE>   11
                                      -8-

                  "REGISTRABLE SECURITIES" shall mean any of (i) the shares of
Common Stock owned by any Shareholder at the time of determination and (ii) any
other securities issued or issuable with respect to the Common Stock by way of a
stock split, stock dividend, reclassification, subdivision or reorganization,
recapitalization or similar event. As to any particular Registrable Securities,
such securities shall cease to be Registrable Securities when (a) a registration
statement with respect to the offering of such securities by the holder thereof
shall have been declared effective under the 1933 Act and such securities shall
have been disposed of by such holder pursuant to such registration statement,
(b) such securities have been sold to the public pursuant to Rule 144 (or any
similar provision then in force) promulgated under the 1933 Act, (c) except for
purposes of Section 5.02, such securities shall have been otherwise transferred
and new certificates for such securities not bearing a legend restricting
further transfer shall have been delivered by the Company or its transfer agent
and subsequent disposition of such securities shall not require registration or
qualification under the 1933 Act or any similar state law then in force or (d)
such securities shall have ceased to be outstanding.

                  "REGISTRATION" see Section 5.03.

                  "REPRESENTATIVES" means the officers, employees, directors and
agents of such Shareholder, including, representatives of its legal, accounting
and financial advisors.

                  "REQUEST NOTICE" see Section 5.02(a).

                  "REQUISITE INVESTORS" means (i) Company Shareholder for so
long as Company Shareholder either (a) has outstanding commitments or loans
under the Subordinated Loan Agreement, (b) owns, together with its Permitted
Transferees, $10.0 million or more in liquidation preference of Class A
Preferred Stock, or (c) owns, together with its Direct Permitted Transferees, at
least 1,571,569 shares (as adjusted for Adjustments) of Common Stock, (ii) RM,
(iii) CSFB (on behalf of itself and its Direct Permitted Transferees) and (iv)
HIP Co-Investors (other than CSFB) (on behalf of the HIP Co-Investors and their
Direct Permitted Transferees) owning a majority of the number of shares of
Common Stock owned by all HIP Co-Investors (other than CSFB) and their Direct
Permitted Transferees as a group at the applicable date of determination.

                  "RIVERSIDE" see the recitals to this Agreement.

                  "RM" see the recitals to this Agreement.

                  "ROLLOVER DEMAND HOLDERS" means Company Shareholder, RM and
their respective Direct Permitted Transferees.

                  "ROLLOVER INVESTORS" see the recitals to this Agreement.

                  "SECOND OPTION" see Section 4.01(c).
<PAGE>   12
                                      -9-

                  "SENIOR CREDIT FACILITIES" means the Credit Agreement, dated
as of the date hereof, among The Chase Manhattan Bank, Chase Securities Inc.,
the Company and certain of its subsidiaries and the other lenders and financial
institutions party thereto from time to time, as the same may be amended,
modified, waived, refinanced or replaced from time to time (whether under a new
credit agreement or otherwise).

                  "SHAREHOLDERS" see the recitals to this Agreement.

                  "SIGNIFICANT SUBSIDIARY" means any subsidiary of the Company
that would be a "significant subsidiary" as such term is defined in Rule 1.02 of
Regulation S-X under the 1933 Act.

                  "SPONSOR" means collectively the Heartland Entities or
Heartland Industrial Partners, L.P. acting on behalf of the other Heartland
Entities.

                  "SPONSOR OPTION PERIOD" see Section 4.01(c).

                  "SUBORDINATED LOAN AGREEMENT" means the subordinated loan
agreement dated the date hereof between Company Shareholder and the Company.

                  "SUBSTANTIAL CHANGE OF CONTROL" means the sale, lease or
transfer in one or a series of related transactions of at least a majority of
the consolidated assets of the Company and its subsidiaries or a majority of the
Capital Stock of the Company representing the right to vote for directors to any
Person or "group" of Persons (other than Sponsor and its Affiliates) whether
direct or indirect or by way of any merger, consolidation or other business
combination or purchase of beneficial ownership or otherwise.

                  "TRANSACTIONS" means (i) the Recapitalization Merger and (ii)
all of the other transactions contemplated by the Recapitalization Agreement,
including the transactions contemplated by the subscription agreements to be
entered into in connection with the Recapitalization Merger.

                  "TRANSFER" means the direct or indirect offer, sale, donation,
assignment (as collateral or otherwise), pledge, hypothecation, encumbrance,
transfer or disposition of any security.

                  "TRANSFER NOTICE" see Section 4.02(a).

                  "TRANSFEREE" means any Person who acquires shares of Common
Stock from a Shareholder and who is not a Permitted Transferee.

<PAGE>   13
                                      -10-

                  "TRIGGERING EVENT" means:

                  (i) with respect to a Rollover Demand Holder or CSFB, after
         the earlier of (1) the fifth anniversary of the date hereof if an
         Initial Public Offering has not been consummated by the fifth
         anniversary of the date hereof and (2) 180 days after an Initial Public
         Offering;

                  (ii) with respect to a QI Demand Holder, 180 days after an
         Initial Public Offering; and

                  (iii) with respect to Sponsor, at any time.

                  SECTION 1.02. Rules of Construction. For purposes of this
Agreement whenever a threshold for the dollar amount of cash invested in Common
Stock of the Company or the percentage of ownership of Common Stock is to be
determined as to a Shareholder, the cash investments and the beneficial
ownership of Direct Permitted Transferees of such Shareholder shall be
aggregated with the cash investments and beneficial ownership of such
Shareholder and the cash investments and the beneficial ownership of the
Heartland Entities will be deemed to be aggregated.

                                   ARTICLE II

                         REPRESENTATIONS AND WARRANTIES

                  Each of the parties hereby severally represents and warrants
to each of the other parties as follows:

                  SECTION 2.01. Authority; Enforceability. Such party has the
legal capacity or corporate power and authority to enter into this Agreement and
to carry out its obligations hereunder. Such party (in the case of parties that
are not natural persons) is duly organized and validly existing under the laws
of its jurisdiction of organization, and the execution of this Agreement and the
consummation of the transactions contemplated herein have been duly authorized
by all necessary action. No other act or proceeding, corporate or otherwise, on
its part is necessary to authorize the execution of this Agreement or the
consummation of any of the transactions contemplated hereby. This Agreement has
been duly executed by such party and constitutes its legal, valid and binding
obligation, enforceable against it in accordance with the terms of this
Agreement, subject to applicable bankruptcy, insolvency, reorganization,
moratorium and other laws affecting the rights of creditors generally and to the
exercise of judicial discretion in accordance with general principles of equity
(whether applied by a court of law or of equity).

                  SECTION 2.02. No Breach. Neither the execution of this
Agreement nor the performance by such party of its obligations hereunder nor the
consummation of the transactions contemplated hereby or by the Transactions does
or will:
<PAGE>   14
                                      -11-

                  (a) in the case of parties that are not natural persons,
         conflict with or violate its certificate of incorporation, bylaws or
         other organizational documents;

                  (b) violate, conflict with or result in the breach or
         termination of, or otherwise give any other person the right to
         accelerate, renegotiate or terminate or receive any payment or
         constitute a default or an event of default (or an event which with
         notice, lapse of time, or both, would constitute a default or event of
         default) under the terms of, any contract or agreement to which it is a
         party or by which it or any of its assets or operations are bound or
         affected, including, in the case of the Company, the Senior Credit
         Facilities or Subordinated Loan Agreement; or

                  (c) constitute a violation by such party of any laws, rules or
         regulations of any governmental, administrative or regulatory authority
         or any judgments, orders, rulings or awards of any court, arbitrator or
         other judicial authority or any governmental, administrative or
         regulatory authority.

                  SECTION 2.03. Consents. No consent, waiver, approval,
authorization, exemption, registration, license or declaration is required to be
made or obtained by such party, other than those which have been made or
obtained, in connection with (i) the execution or enforceability of this
Agreement or (ii) the consummation of any of the transactions contemplated
hereby or by the Transactions.

                  SECTION 2.04. Share Ownership. (a) The Company represents and
warrants that in the case of a Shareholder, such party will own, immediately
following the consummation of the transactions contemplated by the
Recapitalization Agreement, the number of shares of Capital Stock of the Company
set forth opposite such party's name in Schedule 2.04 attached hereto, free and
clear of any and all liens, claims and encumbrances, other than those created by
this Agreement.

                  (b) The Company represents and warrants that, as of the
date hereof after giving effect to the Transactions, the authorized capital
stock of the Company consists of (A) 250,000,000 shares of Common Stock, of
which 30,177,943 shares of Common Stock are issued and outstanding (without
giving effect to the restricted stock awards, whether or not vested, or shares
of Common Stock issuable to the former stockholders of K-Tech Mfg., Inc.
pursuant to documentation in existence prior to the Transactions), and (B)
25,000,000 shares of preferred stock, of which 361,001 shares of Class A
Preferred Stock are issued and outstanding. Without giving effect to any cash
elections or any accretion in respect of restricted stock awards after the date
of the Transactions and assuming full vesting of restricted stock awards granted
as of the date of the Transactions, there are approximately 3,741,325 shares of
Common Stock subject to restricted stock awards on the date hereof after giving
effect to the Transactions. The maximum number of shares of Common Stock
issuable to the former K-Tech Mfg., Inc. stockholders is not presently
determinable, but is estimated at up to approximately 550,000 shares of Common
Stock. Except (i) as provided for in this Agreement,
<PAGE>   15
                                      -12-

(ii) for accretion in respect of restricted stock awards after the date hereof,
(iii) for Common Stock to be issued to former stockholders of K-Tech Mfg., Inc.
arising out of obligations existing prior to the Transactions, as of the date of
the Transactions, no subscription, warrant, option, convertible or exchangeable
security or other right to purchase or acquire any shares of Capital Stock of
the Company is authorized or outstanding and the Company has no obligation to
issue any subscription, warrant, option, convertible or exchangeable security or
other such right.

                  (c) The Company represents and warrants that the shares of
Common Stock issued to each Shareholder in connection with the Recapitalization
Merger were duly and validly authorized, and when issued to each Shareholder in
connection with the Recapitalization Merger will be duly and validly issued,
fully paid and non-assessable and such shares are not subject to preemptive or
similar rights except as provided by this Agreement.

                  (d) Each Shareholder hereby consents to and approves of the
contribution by the Company in connection with the Transactions of all of its
assets to Metalync Company LLC, its wholly-owned subsidiary, as required by the
Senior Credit Facilities.

                                   ARTICLE III

                                 SHARE TRANSFERS

                  SECTION 3.01. Restrictions on Transfer. During the term of
this Agreement, each Shareholder agrees that it will not Transfer any Common
Stock, except as permitted by or in accordance with this Agreement.

                  SECTION 3.02. Exceptions to Restrictions. Subject to all
applicable laws, the restrictions on Transfer set forth in Section 3.01 hereof
shall not apply to any of the following:

                  (a) a Transfer by a Shareholder of Common Stock to one of its
         Permitted Transferees; provided that such Permitted Transferee shall
         agree to execute a Joinder Agreement in the form annexed hereto as
         Exhibit A (the "Joinder Agreement");

                  (b) a Transfer of Common Stock by a Shareholder in accordance
         with Sections 4.02 and 4.03 of this Agreement;

                  (c) a Transfer by a Shareholder after such Shareholder has
         complied with Section 4.01; provided that the Transferee shall agree to
         execute a Joinder Agreement; and

                  (d) a Transfer of Common Stock by a Shareholder pursuant to an
         effective registration statement under the 1933 Act or a Transfer
         pursuant to Rule 144 under the 1933 Act.
<PAGE>   16
                                      -13-

                  SECTION 3.03. Improper Transfer. Any attempt to Transfer any
shares of Common Stock not in accordance with this Agreement shall be null and
void and the Company will not give nor permit the Company's transfer agent to
give any effect to such attempted Transfer in its stock records.

                  SECTION 3.04. Restrictive Legend. Each certificate
representing shares of Common Stock and held by a Shareholder will bear a legend
substantially similar to the following (with such additions thereto or changes
therein as the Company may be advised by counsel are required by law or
necessary to give full effect to this Agreement):

         "THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE OFFERED OR
         SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER
         THE UNITED STATES SECURITIES ACT OF 1933 OR (ii) AN APPLICABLE
         EXEMPTION FROM REGISTRATION THEREUNDER. ANY SALE PURSUANT TO CLAUSE
         (ii) OF THE PRECEDING SENTENCE MUST BE ACCOMPANIED BY AN OPINION OF
         COUNSEL REASONABLY SATISFACTORY TO THE COMPANY TO THE EFFECT THAT SUCH
         EXEMPTION FROM REGISTRATION IS AVAILABLE IN CONNECTION WITH SUCH SALE.

         THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE ALSO SUBJECT TO THE
         TERMS AND CONDITIONS, INCLUDING WITH RESPECT TO THE DIRECT OR INDIRECT
         TRANSFER THEREOF, OF A SHAREHOLDERS AGREEMENT DATED AS OF NOVEMBER 28,
         2000. THE SHAREHOLDERS AGREEMENT CONTAINS, AMONG OTHER THINGS,
         SIGNIFICANT RESTRICTIONS ON TRANSFER OF THE SECURITIES OF THE COMPANY.
         A COPY OF THE SHAREHOLDERS AGREEMENT IS AVAILABLE UPON REQUEST FROM THE
         COMPANY."

                                   ARTICLE IV

                         RIGHTS OF CERTAIN SHAREHOLDERS

                  SECTION 4.01. Rights of First Offer. (a) At any time or from
time to time prior to a Qualifying Public Equity Offering, in the event that (x)
at any time following the first anniversary of the date hereof (provided,
however, that, prior to the second anniversary of the date hereof, such Rollover
Investor does not in the good faith judgment of the Company jeopardize the
"recapitalization" accounting treatment afforded the Company in the
Recapitalization Merger), a Rollover Investor desires to Transfer, or (y) at any
time following the date hereof, a HIP Co-Investor desires to Transfer, all or
part of its Common Stock ("Offered Shares"), other than pursuant to Section
3.02(a), 3.02(d), 4.02 or 4.03 of this Agreement, such Rollover Investor or HIP
Co-Investor (individually, an "Investor") shall give prompt written
<PAGE>   17
                                      -14-

notice (an "Investor's Notice") of its desire to sell the Offered Shares to the
Company and Sponsor. The Investor's Notice shall identify (i) the number of
Offered Shares and (ii) all other material terms and conditions of the proposed
Transfer including the purchase price and the form of the consideration.

                  (b) The Company shall have the right, but not the obligation,
to purchase all, but not less than all, the Offered Shares (the "First Option")
on the same terms and conditions as set forth in the Investor's Notice, which
option shall be exercised by delivering to such Investor irrevocable written
notice of its commitment to purchase the Offered Shares within fifteen (15)
business days after receipt of the Investor's Notice (the "Company Option
Period"). Failure by the Company to give such notice within such fifteen (15)
business day period shall be deemed an election by the Company not to purchase
the Offered Shares.

                  (c) In the event that the Company decides not to purchase the
Offered Shares pursuant to Section 4.01(b), then Sponsor shall have the right,
but not the obligation, to purchase all, but not less than all, the Offered
Shares (the "Second Option") on the same terms and conditions as set forth in
the Investor's Notice, which option shall be exercised by delivering to such
Investor irrevocable written notice of its commitment to purchase the Offered
Shares within ten (10) business days after the termination of the Company Option
Period (the "Sponsor Option Period"); provided that Sponsor may, at its sole
option, assign its rights to purchase an Investor's Offered Shares pursuant to
this Section 4.01 to another Shareholder or a Permitted Transferee of Sponsor
(such person an "Assignee"); provided that if the Assignee is a HIP Co-Investor,
each HIP Co-Investor will be able to participate in such assignment on a pro
rata basis. Failure by Sponsor or its Assignee to give such notice within such
ten (10) business day period shall be deemed an election by Sponsor or its
Assignee not to purchase the Offered Shares.

                  (d) Delivery of written notice by the Company, Sponsor or its
Assignee accepting the First Option or the Second Option, as the case may be,
shall constitute a contract between the Company, Sponsor or its Assignee, on the
one hand, and such Investor on the other hand, for the purchase and sale of the
Offered Shares on the terms and conditions set forth in the Investor's Notice.
The purchase of any shares pursuant to the exercise of the First Option or the
Second Option, as the case may be, shall be completed not later than forty-five
(45) days following receipt of the Investor's Notice with respect to the Offered
Shares, subject to receipt of any required material third-party or governmental
approvals, compliance with applicable laws and the absence of any injunction or
similar legal order preventing such transaction (collectively, the "Conditions")
in which case the purchase of the Offered Shares shall be delayed pending the
satisfaction of the Conditions up to an additional thirty (30) days. As a
condition to entering into the contract referred to above, the Company, Sponsor
and its Assignee will agree to use commercially reasonable efforts to satisfy
the Conditions as soon as possible. In the event that neither the First Option
nor the Second Option is exercised, the Investor shall have the right for a
period of seventy-five (75) days after the termination of the
<PAGE>   18
                                      -15-

Sponsor Option Period to Transfer (the "Investor Sale") the Offered Shares at a
price not less than ninety percent (90%) of the price contained in, and
otherwise on terms and conditions no less favorable to such Investor than those
set forth in, the Investor's Notice, except that the purchase of the Offered
Shares may be delayed up to an additional thirty (30) days pending satisfaction
of the Conditions; provided that the Transferee agrees to execute a Joinder
Agreement. If the Investor Sale is not consummated pursuant to the terms of the
immediately preceding sentence, the Investor will not effect Transfer of any of
the Offered Shares without commencing de novo the procedures set forth in this
Section 4.01.

                  SECTION 4.02. Tag-Along Rights. (A) If, at any time or from
time to time prior to a Qualifying Public Equity Offering, Sponsor or any of its
Affiliates (the "Sponsor Transferor") proposes to Transfer any shares of Common
Stock to a Person (the "Purchaser"), other than pursuant to Section 3.02(a),
3.02(d), 5.01 or 5.02 or in a circumstance where all of the shares owned by all
of the Shareholders are being purchased pursuant to Section 4.03, the Sponsor
Transferor shall give written notice (a "Transfer Notice") of such proposed
Transfer to the Shareholders at least fifteen (15) days prior to the
consummation of such proposed Transfer, setting forth (A) the total number of
shares of Common Stock offered to be Transferred to Purchaser, (B) the
consideration to be received for such shares of Common Stock by the Sponsor
Transferor, (C) the identity of the Purchaser(s), (D) any other material terms
and conditions of the proposed Transfer, (E) the expected date of the proposed
Transfer and (F) that each such Shareholder shall have the right (the "Tag-Along
Right") to elect to sell up to its Pro Rata Portion of such shares of Common
Stock to be Transferred to Purchaser. If any portion of the consideration
contained in the Transfer Notice includes consideration other than cash, the
Sponsor Transferor shall provide the Shareholders with a summary of a valuation
study, if any, that the Sponsor Transferor has prepared concerning such
consideration, but the Sponsor Transferor shall have no liability to any
Shareholder with respect to any such summary or study and no obligation to
undertake any such valuation. Notwithstanding the first sentence of this Section
4.02(a), a Shareholder will have a Tag-Along Right in connection with Transfers
of shares of Common Stock by the Sponsor Transferor to a Permitted Transferee
(other than an Affiliate of the Sponsor Transferor) when the Sponsor Transferor
Transfers shares of Common Stock to such Person at a price per share (as
adjusted for Adjustments) that is greater than the price per share (as adjusted
for Adjustments) paid for such shares by the Sponsor Transferor.

                  (b) Upon delivery of a Transfer Notice, each Shareholder has
the option, but not the obligation, to sell up to the Pro Rata Portion of its
shares of Common Stock at the same price per share of Common Stock and pursuant
to the same terms and conditions with respect to payment for the shares of
Common Stock as agreed to by the Sponsor Transferor, by sending written notice
to the Sponsor Transferor within ten (10) days of the date of the Transfer
Notice, indicating its election to sell up to the Pro Rata Portion of its shares
of Common Stock in the same transaction. To the extent that elections pursuant
to this Section 4.02(b) are not made with respect to any shares of Common Stock
included in a Transfer
<PAGE>   19
                                      -16-

Notice within such 10-day period, then the Sponsor Transferor shall re-offer to
Shareholders who have elected to sell their Pro Rata Portion (the "Tag-Along
Shareholders") for one additional three day period, the right to sell such
additional number of shares as will result in the Tag-Along Shareholders being
able to sell their pro rata share of such remaining shares of Common Stock,
based upon all the shares of Common Stock being sold by all the Tag Along
Shareholders (not including the remaining shares). For a sixty (60) day period
following such ten (10) day period (which period may be extended an additional
thirty (30) days in order to satisfy the Conditions), each Tag-Along Shareholder
shall be permitted to sell to the Purchaser(s) on the terms and conditions set
forth in the Transfer Notice that amount of its shares of Common Stock as to
which it has made its election and the Sponsor Transferor shall be permitted to
concurrently sell the balance of the shares of Common Stock that are the subject
of the Transfer Notice that are not sold by the Tag-Along Shareholders.

                  (c)      The provisions of Section 4.02(a) and (b) shall not
apply to any Transfer or series of Transfers by Sponsor of shares of Common
Stock to one or more Persons other than Permitted Transferees which in the
aggregate do not exceed ten percent (10%) of such shares of Common Stock owned
by Sponsor immediately following the Transactions.

                  (d)      Each Tag-Along Shareholder shall not be required to
make representations and warranties in connection with such sale other than
customary representations and warranties with respect to (i) such Shareholder's
due organization, power and authority, (ii) such Shareholder's ownership of the
shares of Common Stock and ability to freely convey such shares of Common Stock
without liens or encumbrances, (iii) customary representations regarding
non-contravention of such Shareholder's charter, bylaws or other organizational
documents or material agreements of such Tag-Along Shareholder and (iv) the
enforceable nature of such Tag-Along Shareholder's obligations under the
documents for such sale to which it is a party (collectively, the "Shareholder
Representations"). No Tag-Along Shareholder shall be liable in respect of any
indemnification provided in connection with a Tag-Along Sale (with respect to
such Shareholder's Shareholder Representations) in excess of the consideration
received by such Tag-Along Shareholder in such Tag-Along Sale and no Tag-Along
Shareholder shall be required to participate in any escrow relating to such
Tag-Along Sale in excess of such Tag-Along Shareholder's participation in the
Tag-Along Sale.

                  (e)      In the event that no Shareholder elects to sell
shares of Common Stock pursuant to this Section 4.02, Sponsor and/or its
Affiliates (as the case may be) shall have the right for a period of
seventy-five (75) days (which period may be extended by an additional thirty
(30) days to satisfy the Conditions) after the expiration of the 10-day period
referred to in Section 4.02(b) to Transfer the Shares subject to the Transfer
Notice to the Purchaser at a price not greater than the price contained in, and
otherwise on terms and conditions no more favorable to Sponsor and/or such
Affiliates than those set forth in, the Transfer Notice; it being agreed that,
after the end of the 75-day period referred to in this Section 4.02(e)
(including any permitted extension thereof), Sponsor and/or such Affiliates will
not effect any
<PAGE>   20
                                      -17-

transaction in any shares of Common Stock that are the subject of the Transfer
Notice without commencing de novo the procedures set forth in this Section 4.02.

                  SECTION 4.03. Drag-Along Rights. If at any time prior to a
Qualifying Public Equity Offering, Sponsor and its Affiliates intend to effect a
Substantial Change of Control, Sponsor shall have the right to require the other
Shareholders (the "Drag-Along Shareholders") to sell the same percentage of
Common Stock held by them relative to such Shareholder's ownership of Common
Stock as Sponsor and its Affiliates are selling in such transaction in
connection with such Substantial Change of Control; to vote such Common Stock,
whether by proxy, voting agreement or otherwise in favor of the transactions
constituting a Substantial Change of Control; to waive their appraisal or
dissenters' rights with respect to such transaction; or otherwise, participate
in such Substantial Change of Control and each other Shareholder agrees to take
any and all reasonably necessary action in furtherance of the foregoing;
provided that (a) the consideration to be received by the other Shareholders
shall be for the same type and amount per share of consideration received by
Sponsor, and (b) after giving effect to such transaction, Sponsor and its Direct
Permitted Transferees shall have sold the same percentage of their holdings of
Common Stock of the Company as sold by the Drag-Along Shareholders; provided,
however, that CSFB will not be obligated to participate in such transaction if
the consideration per share in such transaction is less than $16.90 per share
(as adjusted for Adjustments) of the Common Stock of the Company paid by CSFB in
connection with the Transactions and provided, further, that if Sponsor and its
Affiliates are selling all of their shares of Common Stock in connection with
such Substantial Change of Control, the Drag-Along Shareholders will be required
to sell all of their shares pursuant to this Section 4.03. In connection with
the sale of their shares of Common Stock pursuant to this Section 4.03, the
Drag-Along Shareholders shall not be required to make any representations and
warranties other than the Shareholder Representations. In addition, no
Drag-Along Shareholder shall be liable in respect of any indemnification in
connection with a transaction effected pursuant to this Section 4.03 (a
"Drag-Along Transaction") (with respect to such Shareholder's Shareholder
Representations) in excess of the consideration received by such Drag-Along
Shareholder in such Drag-Along Transaction and no such Drag-Along Shareholder
shall be required to participate in any escrow relating to such Drag-Along
Transaction in excess of such Drag-Along Shareholder's Pro Rata Portion.

                  SECTION 4.04. Information. (a) Prior to the occurrence of an
Initial Public Offering, the Company shall deliver to each Shareholder:

                    (1) as soon as available, but in any event within forty-five
         (45) days after the end of each quarter, copies of:

                           (i) consolidated balance sheets of the Company and
                  its subsidiaries as at the end of such quarter, and
<PAGE>   21
                                      -18-

                          (ii) consolidated statements of income, stockholders'
                  equity and cash flows of the Company and its subsidiaries, for
                  such quarter and for the portion of the fiscal year ending
                  with such quarter,

         in each case prepared in accordance with GAAP applicable to periodic
         financial statements generally, fairly presenting, in all material
         respects, the financial position of the Persons being reported on and
         their results of operations and cash flows, subject to changes
         resulting from normal year-end adjustments;

                    (2) as soon as available, but in any event within ninety
         (90) days after the end of each fiscal year of the Company, copies of:

                           (i) consolidated balance sheets of the Company and
                  its subsidiaries as at the end of such year, and

                           (ii) consolidated statements of income, stockholders'
                  equity and cash flows of the Company and its subsidiaries for
                  such year,

         in each case prepared in accordance with GAAP, fairly presenting, in
         all material respects, the financial position of the Persons being
         reported on and their results of operations and cash flows, and
         accompanied by an opinion thereon of independent certified public
         accountants of recognized national standing, which opinion shall state
         that such financial statements present fairly, in all material
         respects, the financial position of the Persons being reported upon and
         their results of operations and cash flows and have been prepared in
         conformity with GAAP;

                  (b)      In the case of any Shareholder (other than CSFB)
prior to the occurrence of a Qualifying Public Equity Offering, and for so long
as such Shareholder owns twenty-five percent (25%) or more of the number of
shares of Common Stock (as adjusted for Adjustments) owned by such Shareholder
immediately following the Transactions, or in the case of CSFB, for so long as
CSFB retains a number of shares of Common Stock equal to at least twenty-five
(25%) of the number of shares of Common Stock (as adjusted for Adjustments)
owned by CSFB immediately following the Transactions, the Company shall deliver
to each such Shareholder and CSFB:

                  (1) the information and reports provided pursuant to Sections
         4.04(a)(1) and (2);

                  (2) monthly "flash reports" utilized by the Company in its own
         management containing summarized, abbreviated data with respect to
         income statement amounts, balance sheet data and cash flows; and
<PAGE>   22
                                      -19-

                    (3) such other information concerning the condition or
         operations, financial or otherwise, of the Company and its Subsidiaries
         as a Shareholder may, from time to time, reasonably request.

                  (c)      The rights to receive the information set forth in
subsections (1) and (2) of paragraph (a) shall be assignable to Transferees of
Common Stock. The rights to receive the information set forth in subsections (2)
and (3) of paragraph (b) shall be assignable to a Transferee that acquires from
CSFB at least 25% of the shares of Common Stock owned by CSFB as of the date
hereof (as adjusted for Adjustments).

                  (d)      Prior to the occurrence of a Qualifying Public Equity
Offering, and for so long as a Shareholder owns twenty-five percent (25%) or
more of the number of shares of Common Stock owned by such Shareholder
immediately following the Transactions (as adjusted for Adjustments),
Representatives of such Shareholder shall be provided with a reasonable
opportunity to discuss the business and affairs of the Company with the
Company's senior managers, directors, officers and senior employees upon
reasonable advance notice during normal business hours; provided that such
Company representatives shall be available (A) to such Shareholder for an annual
meeting with senior management at which the following year's budget is presented
and (B) to Qualified Investors, RM and Company Shareholder for quarterly
meetings at which the most recent quarterly results are discussed.

                  (e)      Each Shareholder hereby agrees that neither it nor
its Representatives will disclose to any third party any information provided to
it or its Representatives by the Company hereunder which is not generally
available to the public, except with the prior express approval of the Company
or as may be required by applicable law; it being understood that nothing in
this Section 4.04(e) will restrict the ability of Sponsor or a HIP Co-Investor
to disclose certain information to its investors in accordance with the
governing documents of their partnership arrangement; provided that such
investors agree to be bound by the confidentiality provisions of this Agreement.

                  (f)      Notwithstanding the above, access to highly
confidential proprietary information and facilities need not be provided by the
Company, nor shall the Company be required to provide information to any
Shareholder that is a competitor or reasonably likely to become a competitor of
the Company or any of its subsidiaries; it being understood that the
Shareholders existing as of the date hereof are not competitors.

                  (g)      Notwithstanding the foregoing, (x) MetLife in
addition to Portfolio Advisors, LLC or any controlled Affiliate of Portfolio
Advisors, LLC shall have the rights provided by this Section 4.04
notwithstanding the fact it has transferred all of its shares of Common Stock to
Portfolio Advisors, LLC or any controlled Affiliate of Portfolio Advisors, LLC,
provided such Person would have such rights as a Shareholder (it being agreed
that, solely for purposes of paragraphs (b) and (d) of this Section 4.04, such
Person shall be deemed to have held its shares of Common Stock since the
consummation of the
<PAGE>   23
                                      -20-

Transactions) and (y) Company Shareholder shall be entitled to receive the
information provided by this Section 4.04 so long as Company Shareholder owns
any Class A Preferred Stock or has outstanding commitments or loans under the
Subordinated Loan Agreement.

                  SECTION 4.05. Preemptive Rights. (a) Prior to the occurrence
of an Initial Public Offering, the Company hereby grants and hereby agrees to
cause each Significant Subsidiary of the Company to grant to each HIP
Co-Investor and its Direct Permitted Transferees and Sponsor and its Direct
Permitted Transferees the right to purchase up to such Shareholder's
Proportionate Percentage (as hereinafter defined) of any future Eligible
Offering (as hereinafter defined) and in the case such Eligible Offering is in
whole or in part to Sponsor or any of its Affiliates, then the Company shall
also grant Company Shareholder and RM the right to purchase up to their
Proportionate Percentage. For purposes of this Section 4.05, the following terms
shall have the meanings set forth below.

                  "Proportionate Percentage" means, with respect to any
         Shareholder as of any given date with respect to an Eligible Offering,
         the lower of (i) twenty percent (20%) of such Eligible Offering or (ii)
         the number (expressed as a percentage) obtained by dividing (A) the
         number of shares of Common Stock owned by such Shareholder as of such
         date by (B) the total number of shares of Common Stock outstanding as
         of such date, in each case, assuming all shares of Capital Stock of the
         Company convertible into or exercisable for Common Stock have been so
         converted; provided that CSFB should not be limited by the foregoing
         clause (i) in the event that the Eligible Offering consists of Capital
         Stock of the Company for a consideration per share of Capital Stock
         which is less than the purchase price per share of Common Stock paid by
         CSFB in connection with the Transactions (as such price is adjusted by
         the Adjustments).

                  "Eligible Offering" means an offer by the Company or a
         Significant Subsidiary of the Company to sell to any Person or Persons
         (including any of the Shareholders) for cash, any Capital Stock of the
         Company or any Significant Subsidiary, other than an offering by the
         Company or a Significant Subsidiary of the Company:

                           (i) of Common Stock in an underwritten public
                  offering (a "Public Offering") registered under the 1933 Act
                  or pursuant to a Rule 144A offering under the 1933 Act;

                           (ii) of Common Stock of the Company issued upon the
                  exercise of options, warrants or convertible securities
                  outstanding as of the date hereof;

                         (iii) of Common Stock of the Company or options to
                  purchase shares of Common Stock in connection with or pursuant
                  to any stock option, stock purchase plan or agreement or other
                  benefit plans approved by the Board of Directors of the
                  Company to full-time employees, officers, directors,

<PAGE>   24
                                      -21-

                  consultants and/or advisors to the Company or its
                  subsidiaries;(excluding employees of Sponsor)

                           (iv) of Common Stock of the Company issued in
                  connection with restricted stock awards pursuant to and in
                  accordance with the Recapitalization Agreement;

                           (v) of Common Stock of the Company having a value of
                  up to $5.2 million in order to comply with Section 5.15 of the
                  Senior Credit Facilities;

                          (vi) of Capital Stock of the Company issued as
                  consideration to any seller in connection with the acquisition
                  by the Company or any subsidiary of the Company of the assets
                  of any Person in any transaction approved by the Board of
                  Directors of the Company;

                         (vii) of Capital Stock of the Company issued as an
                  inducement in connection with any debt financing of the
                  Company, subject to terms and conditions approved by the Board
                  of Directors of the Company;

                        (viii) of Capital Stock of a Significant Subsidiary of
                  the Company in connection with any sale of control of such
                  Significant Subsidiary to, or any joint venture between such
                  Significant Subsidiary and, a third party that is not a
                  financial sponsor or investor, which sale or joint venture is
                  approved by the Board of the Directors of the Company;

                           (ix) of director qualifying or similar shares of a
                  Significant Subsidiary;

                           (x) of Capital Stock of the Company issued as
                  consideration in connection with the acquisition by the
                  Company or any subsidiary of the Company of Simpson
                  Industries, Inc. or Global Metal Technologies, Inc. (or any
                  parent company thereof); and

                           (xi) of Capital Stock of the Company issued to former
                  stockholders of K-Tech Mfg., Inc. arising out of obligations
                  existing prior to the Transactions.

                  For purposes of this Section 4.05 only, "Capital Stock" means
any and all shares of common stock or options, warrants or similar instruments
or any other securities convertible or exchangeable therefor (collectively,
"Equity Interests") or any equity security linked to or offered or sold in
connection with any Equity Interests of such Person or any of its Significant
Subsidiaries, as the case may be.
<PAGE>   25
                                      -22-

                  (b)      The Company shall, before any securities are issued
pursuant to an Eligible Offering, give written notice (a "Preemptive Notice")
thereof to each Shareholder that is entitled to preemptive rights hereunder.
Such notice shall specify the security or securities proposed to be issued, the
proposed date of issuance, the consideration that the Company or such
Significant Subsidiary, as the case may be, intends to receive therefor and all
other material terms and conditions of such proposed issuance. For a period of
ten (10) business days following the date of such notice, each such Shareholder
shall be entitled, by written notice to the Company, to elect to purchase all or
part of such Shareholder's Proportionate Percentage of the securities being sold
in the Eligible Offering. To the extent that elections pursuant to this Section
4.05(b) shall not be made with respect to any shares of Common Stock included in
a Preemptive Notice within such 10-day period, then the Company shall re-offer
to Shareholders who have elected to purchase their Proportionate Percentage (the
"Preemptive Shareholders") for one additional three-day period, the right to
purchase any part of the shares of Common Stock not purchased by other
Shareholders (the "Section 4.05 Remaining Shares") pursuant to this Section 4.05
which is equal to the product obtained by multiplying (i) the number of Section
4.05 Remaining Shares by (ii) a fraction, the numerator of which is the number
of shares of Common Stock then owned by any such Preemptive Shareholder and the
denominator of which is the aggregate number of shares owned by all Preemptive
Shareholders. To the extent that elections pursuant to this Section 4.05(b)
shall not be made with respect to any securities included in an Eligible
Offering within such ten (10) business day period, then the Company or such
Significant Subsidiary, as the case may be, shall not be obligated to issue to
such Shareholder such securities for which such Shareholder has elected not to
purchase. To the extent that there are securities that have not been purchased
pursuant to this Section 4.05, then the Company or such Significant Subsidiary,
as the case may be, may issue such securities, but only for consideration not
less than, and otherwise on no less favorable terms to the Company or such
Significant Subsidiary, as the case may be, than, those set forth in the
Company's notice and only within thirty (30) days after the end of such ten (10)
business day period. In the event that any such offer is accepted by any such
Shareholder or Shareholders, the Company or such Significant Subsidiary, as the
case may be, shall sell to such Shareholder or Shareholders, and such
Shareholder or Shareholders shall purchase from the Company or such Significant
Subsidiary, as the case may be, for the consideration and on the terms set forth
in the notice as aforesaid, the securities that such Shareholder or Shareholders
shall have elected to purchase within ten (10) business days of such
Shareholder's election to purchase such Proportionate Percentage (subject to
delay for an additional thirty days for satisfaction of the Conditions).

                  (c)      Each of the Shareholders granted rights pursuant to
this Section 4.05 acknowledges that it has been given the opportunity to
purchase their Proportionate Percentage of Common Stock in connection with the
acquisition of Simpson Industries, Inc. and accordingly this Section 4.05 shall
not apply to the acquisition of Simpson Industries, Inc.
<PAGE>   26
                                      -23-

                  (d)      The Company may comply with any applicable securities
laws before issuing any shares of Common Stock pursuant to this Section 4.05 and
shall not be in violation of the provisions hereof by reason of such compliance;
provided it is using commercially reasonable efforts to so comply.

                  SECTION 4.06. Board of Directors. (a) At each annual or
special stockholders meeting called for the election of directors, and whenever
the Shareholders of the Company act by written consent with respect to the
election of directors, each Shareholder agrees to vote or otherwise give such
Shareholder's consent in respect of all shares of the Capital Stock of the
Company (whether now owned or hereafter acquired) owned by such Shareholder, and
take all other appropriate action and the Company shall take all necessary and
desirable actions within its control in order to cause:

                  (i) an amendment to the Bylaws of the Company to provide that
         the authorized number of directors on the Board of Directors of the
         Company shall be as recommended by the Sponsor in its sole discretion.

                 (ii) the election to the Board of Directors of:

                           (a) such number of directors as shall constitute a
                  majority of the Board of Directors as designated by Heartland
                  Industrial Partners, L.P.;

                           (b) one director designated by the Company
                  Shareholder; provided, however, that except as set forth in
                  the immediately following sentence of this subpart (b) upon
                  Company Shareholder and its Direct Permitted Transferees
                  ceasing to own at least 1,571,569 shares of Common Stock or,
                  upon a Qualifying Public Equity Offering, Company Shareholder
                  shall no longer have the right to designate one director to
                  the Board. Notwithstanding the foregoing, Company Shareholder
                  shall maintain the right to designate one director to the
                  Board of Directors for so long as Company Shareholder or its
                  Affiliates, own (x) $10.0 million or more of liquidation
                  preference of the Class A Preferred Stock or (y) have
                  outstanding loans or unfunded commitments under the
                  Subordinated Loan Agreement; and

                           (c) one director designated by the CSFB Plan Partner
                  (the "CSFB Director") after consultation with Sponsor;
                  provided, however, that upon CSFB and its Direct Permitted
                  Transferees ceasing to own a number of shares of Common Stock
                  which would equal at least a majority of the shares of Common
                  Stock owned by CSFB immediately following the Transactions (as
                  adjusted for Adjustments), CSFB shall no longer have the right
                  to designate one director to the Board of Directors;
<PAGE>   27
                                      -24-

         all of which persons shall hold office subject to their earlier removal
         in accordance with clause (iii) below, the Bylaws of the Company and
         applicable corporate law, until their respective successors shall have
         been elected and shall have qualified;

                (iii) the removal from the Board of Directors (with or without
         cause) of any director elected in accordance with subpart (a), (b) or
         (c) of clause (ii) above upon the written request of the Shareholders
         that designated such director; and

                 (iv) upon any vacancy in the Board of Directors as a result of
         any individual designated as provided in clause (ii) above ceasing to
         be a member of the Board of Directors whether by resignation or
         otherwise, the election to the Board of Directors as promptly as
         possible of an individual designated by the Shareholders that
         designated such individual; provided that the CSFB Plan Partner will
         consult with Sponsor prior to designating a replacement to serve as the
         CSFB Director.

                  (b)      The ability of a Shareholder to designate a director
to the Board of Directors shall not be assignable to any Person.

                  (c)      The parties hereto agree to cause the Board of
Directors to appoint the CSFB Director to each decision making committee of the
Board and to cause such CSFB Director to be nominated to the Board of each
subsidiary of the Company to the extent the composition of such boards is
substantially identical to the composition of the Board.

                  (d)      The Company agrees to provide customary directors'
liability insurance.

                  SECTION 4.07 Right to Observer. In the case of a Qualified
Investor (other than CSFB), for so long as such Qualified Investor retains a
number of shares of Common Stock equal to at least a majority of, or, in the
case of the CSFB Plan Partner, for so long as it retains a number of shares of
Common Stock equal to at least twenty-five percent (25%) of, the shares of
Common Stock owned by such Person immediately following the Transactions (as
adjusted for the Adjustments), such Person will have right to send one
Representative on its behalf (the "Observer") to attend all meetings of the
Board, including all committees thereof, solely in a non-voting observer
capacity. The Company will furnish to the Observer copies of all notices,
minutes, consents and other materials that it generally makes available to its
directors. The Observer may participate in discussions of matters under
consideration by the Board of the Company and any matters brought before any
committee thereof but will not be entitled to vote on any matter presented to
the Board of Directors. Any Qualified Investor and the CSFB Plan Partner will
have the right to remove and replace its Observer in its sole discretion and to
designate a substitute representative if its Observer is unable or unwilling to
attend any of the Board's meetings, including any committees thereof. The right
of Qualified Investors (other than CSFB) to appoint an Observer as set forth in
this Section 4.07 will terminate upon the occurrence of a Qualifying Public
Equity Offering.
<PAGE>   28
                                      -25-

                  SECTION 4.08. Consultation Right. (a) The Company hereby
agrees to consult (a "Consultation") with the Representatives of the CSFB Plan
Partner set forth on Exhibit B hereto with respect (x) to any issues, events or
transactions pertaining to the Company which in the good faith judgment of the
Board of Directors of the Company are material to the consolidated business,
operations and financial condition of the Company and (y) to the preparation of
the annual business plan of the Company. In connection with any Consultation,
the Company will provide such Representatives with all material information
regarding any action under consideration and reasonable notice so that the
consultation period shall constitute sufficient time for the CSFB Plan Partner
to participate meaningfully in any decision-making process regarding the action
to be taken.

                  (b)      The provision of Section 4.08(a) shall terminate upon
a Qualifying Public Equity Offering.

                  SECTION 4.09. Approval Rights. (a) The Company hereby agrees
not to enter into or adopt any Material Event (as defined below) without the
prior written approval of the majority of the Representatives of the CSFB Plan
Partner set forth on Exhibit B hereto, which approval with respect to clauses
(i) and (ii) of the definition of "Material Event" will not be unreasonably
withheld. For the purpose of this Section 4.09, "Material Event" means (i) any
agreement to acquire a business with a total enterprise value of $250.0 million
or more individually or any agreement to acquire a business if there have been
one or more agreements during the immediately preceding twelve (12) month period
for acquisitions(s) with a total enterprise value of $500.0 million or more (it
being hereby agreed by the parties that the acquisition of Global Metal
Technologies, Inc. shall be counted toward such $500.0 million threshold and
that the acquisition of Simpson Industries, Inc. shall not be counted toward
such threshold); (ii) the selection of a chief executive officer of the Company;
(iii) any restructuring of debt or other similar transaction pursuant to which
debt holders of the Company would hold twenty-five percent (25%) or more of the
outstanding Capital Stock of the Company; and (iv) any liquidation, dissolution,
winding-up of the affairs of the Company, whether voluntary or involuntary, or
the filing of a voluntary petition in bankruptcy or the filing of a plan of
reorganization. The Company hereby agrees to promptly give notice to the CSFB
Plan Partner if the Company is contemplating any Material Event. The CSFB Plan
Partner hereby agrees to notify the Company within ten (10) business days of the
receipt of such notice as to whether it approves of the Material Event. Failure
of the CSFB Plan Partner to notify the Company in writing within such ten (10)
business day period of its approval or disapproval of the Material Event shall
be deemed an approval by the CSFB Plan Partner of such Material Event.

                  (b)      The provisions of Section 4.09(a) shall terminate
upon a Qualifying Public Equity Offering.
<PAGE>   29
                                      -26-

                  SECTION 4.10. Transactions with Affiliates. Without the
consent of the Requisite Investors, for so long as Sponsor directly or
indirectly beneficially owns twenty percent (20%) or more of the outstanding
shares of Common Stock of the Company, the Company and its subsidiaries will not
enter into, or suffer to exist, any transaction with Sponsor or any of its
Affiliates involving payments or other consideration in excess of $1.0 million.
The foregoing restrictions will not apply to: (a) the payment of annual
monitoring fees to Sponsor in an amount not to exceed (x) $4.0 million plus
reimbursement of out-of-pocket expenses incurred by Sponsor in connection with
the advisory services provided to the Company for the first year after the date
hereof and (y) not to exceed 0.25% of the consolidated assets of the Company in
subsequent years; provided that such amount will not be less than $4.0 million
plus reimbursement of out-of-pocket expenses incurred by Sponsor in connection
with the advisory services provided to the Company; (b) the payment to Sponsor
of advisory fees and out-of-pocket expense reimbursement in connection with an
acquisition, divestiture or financing by the Company or any of its subsidiaries
(but excluding sales and purchases of personal property in the ordinary course
of business) provided that such fees shall be in an amount equal to 1% of the
aggregate value of such transaction; (c) fees payable to Sponsor in connection
with the Transactions and reimbursement of out-of-pocket expenses incurred by
Sponsor in connection with the Transactions; (d) transactions involving the
sale, purchase or lease of goods or services in the ordinary course of business
and on an arm's-length basis between or among the Company or any of its
subsidiaries and portfolio companies of Sponsor; (e) transactions between or
among the Company or any of its subsidiaries; (f) issuances of Capital Stock to
Sponsor and its Affiliates pursuant to, and in compliance with, Section 4.05;
and (g) issuances of Common Stock to Sponsor and other Shareholders, as
applicable (valued at $16.90 or more per share of Common Stock, unless otherwise
determined by the Board of Directors of the Company) for cash, or in exchange
for common stock, to provide for the acquisition by the Company or one of its
subsidiaries of all of the outstanding Capital Stock of Simpson Industries, Inc.
or Global Metal Technologies, Inc. (or any parent company thereof) either
initially or within one (1) year after the acquisition thereof by Sponsor or one
of its Affiliates (based on the cash equity provided by Sponsor and its
Affiliates at the closing of any such acquisition). Notwithstanding the
foregoing, the benefits of this Section 4.10 in favor of a class of Requisite
Investors (other than Company Shareholder) shall terminate as to it individually
when such class (including their respective Direct Permitted Transferees) ceases
to own a number of shares of Common Stock that would equal at least a majority
of the number of shares of Common Stock (appropriately adjusted for Adjustments)
owned by such class immediately following the Transactions. The benefits of this
Section 4.10 in favor of Company Shareholder will terminate as to Company
Shareholder when Company Shareholder (i) ceases to have outstanding commitments
or loans under the Subordinated Loan Agreement, (ii) owns, together with its
Direct Permitted Transferees, less than $10.0 million of liquidation preference
of Class A Preferred Stock and (iii) ceases to own, together with its Direct
Permitted Transferees, at least 1,571,569 shares of Common Stock.
<PAGE>   30
                                      -27-

                                    ARTICLE V

                               REGISTRATION RIGHTS

                  SECTION 5.01.  Company Registration.

                  (a)      Right to Piggyback on Registration of Stock. Subject
to Section 5.01(c), if at any time or from time to time the Company proposes to
register the Common Stock under the 1933 Act in connection with a public
offering (other than an Initial Public Offering consisting solely of primary
Common Stock or in connection with the registration of shares of Common Stock
issued to former shareholders of K-Tech Mfg., Inc. arising out of, or in lieu
of, obligations existing prior to the Transactions) of such Common Stock on any
form other than Form S-4 or Form S-8 or any similar successor forms or another
form used for a purpose similar to the intended use for such forms (a "Piggyback
Registration"), whether for its own account or for the account of one or more
shareholders of the Company, the Company shall each such time promptly give each
Shareholder written notice of such determination (in any event within 10
business days after its receipt of notice of any exercise of demand registration
rights); provided, however, that such notice of a Piggyback Registration shall
be given at least thirty (30) days prior to the anticipated filing date of such
Piggyback Registration. Upon the written request of any Shareholder (the
"Piggyback Holder") given within ten (10) business days after the providing of
any such notice by the Company, the Company shall use its best efforts to cause
to be registered under the 1933 Act all of the Registrable Securities held by
such Shareholder that the Shareholder has requested to be registered; provided,
however, that if, at any time after giving written notice of its intention to
register any securities and prior to the effective date of the registration
statement filed in connection with such registration, the Company shall
determine for any reason not to register or to delay registration of such
securities, the Company may, at its election, give written notice of such
determination to each Piggyback Holder and (i) in the case of a determination
not to register, shall be relieved of its obligation to register any Registrable
Securities in connection with such registration (but not from any obligation of
the Company to pay the registration expenses in connection therewith); and (ii)
in the case of a determination to delay registering, shall be permitted to delay
registering any Registrable Securities for the same period as the delay in
registering such other securities. No registration effected under this Section
5.01 shall relieve the Company of its obligation to effect any registration upon
demand under Section 5.02. The registration rights contained in Section 5.01 may
be assigned to any Transferee or Permitted Transferee.

                  (b)      Selection of Underwriters. If any Piggyback
Registration involves an underwritten primary offering, the Company shall have
sole discretion in the selection of any underwriter or underwriters to manage
such Piggyback Registration.

                  (c)      Priority on Piggyback Registrations. In the event
that the Piggyback Registration includes an underwritten offering, the Company
shall so advise the Shareholders
<PAGE>   31
                                      -28-

as part of the written notice given pursuant to Section 5.01(a) and the
registration rights provided in Section 5.01(a) shall be subject to the
condition that if the managing underwriter or underwriters of a Piggyback
Registration advise the Company in writing (a copy of which shall be provided to
the applicable Shareholders) that in its opinion the number of Registrable
Securities proposed to be sold in such Piggyback Registration exceeds the number
which can be sold, and would materially adversely affect the price at which the
Registrable Securities are to be sold, in such offering, the Company (or the
Shareholders, as the case may be) will include in such registration only the
number of Registrable Securities which, in the opinion of such underwriter or
underwriters can be sold in such offering without such material adverse effect.
The Registrable Securities so included in such Piggyback Registration shall be
apportioned (i) first, either (x) in the case of a primary registration on
behalf of the Company, to any shares of Common Stock that the Company proposes
to sell, or (y) in the case of a secondary registration on behalf of a
Shareholder, pro rata among the Holders on the basis of the number of
Registrable Securities requested to be registered pursuant to such Demand
Registration, (ii) second, pro rata among the Company Shareholder, RM and the
HIP Co-Investors (and their respective Permitted Transferees), but only to the
extent of shares of Common Stock of the Company held by them as of the date
hereof (as adjusted by the Adjustments), and (iii) third, pro rata among other
shares included in such Piggyback Registration, in each case according to the
total number of shares of the Common Stock requested for inclusion by said
selling stockholders, or in such other proportions as shall mutually be agreed
to among such selling stockholders.

                  SECTION 5.02.  Demand Registration Rights.

                  (a)      Right to Demand. At any time after a Triggering
Event, the Demand Holders may (subject in the case of Sponsor to Section 6.01),
individually or collectively, make a written request, which request will specify
the aggregate number of Registrable Securities to be registered and will also
specify the intended methods of disposition thereof (the "Request Notice") to
the Company for registration with the Commission under and in accordance with
the provisions of the 1933 Act of all or part of the Registrable Securities then
owned by Demand Holders (a "Demand Registration"); provided that the Company
may, if the Board of Directors so determines in the exercise of its reasonable,
good faith judgment that due to a pending or contemplated acquisition or
disposition or public offering or other material event involving the Company it
would be inadvisable to effect such Demand Registration at such time (but in no
event after such registration statement has become effective), the Company may,
upon providing the Demand Holders written notice (the "Delay Notice"), defer
such Demand Registration for a single period with respect to such Demand
Registration not to exceed one hundred thirty five (135) days. Upon receipt by
the Company of a request (a "Demand Request") to effect a Demand Registration
the Company will within 10 business days after the receipt of such notice,
notify each other Demand Holder of such request and such other Demand Holder
shall have the option to include its Registrable Securities in such Demand
Registration pursuant to this Section 5.02. Subject to Section 5.02(f), the
Company
<PAGE>   32
                                      -29-

will register all other Registrable Securities which the Company has been
requested to register by such other Demand Holders (each an "Incidental Demand
Holder") pursuant to this Section 5.02 by written request given to the Company
by such holders within 10 business days after the giving of such written notice
by the Company to such other Demand Holders. The Company shall not be obligated
to maintain a registration statement pursuant to a Demand Registration effective
for more than (x) ninety (90) days or (y) such shorter period when all of the
Registrable Securities covered by such registration statement have been sold
pursuant thereto (the "Effectiveness Period"). Notwithstanding the foregoing,
the Company shall not be obligated to effect more than one Demand Registration
in any 90-day period or such longer period not to exceed 180 days as requested
by an underwriter pursuant to Section 5.07. Upon any such request for a Demand
Registration, the Company will deliver any notices required by Section 5.01 and
5.02 and thereupon the Company will, subject to Section 5.01(c) and 5.02(f)
hereof use its best efforts to effect the prompt registration under the 1933 Act
of:

                  (i) the Registrable Securities which the Company has been so
         requested to register by Demand Holders as contained in the Request
         Notice, and

                  (ii) all other Registrable Securities which the Company has
         been requested to register by the Piggyback Holders and Incidental
         Demand Holders,

all to the extent required to permit the disposition of the Registrable
Securities so to be registered in accordance with the intended method or methods
of disposition of each seller of such Registrable Securities.

                  (b)      Number of Demand Registrations. The Company shall not
be required to prepare and file a registration statement pursuant to this
Section 5.02 if (i) a Rollover Demand Holder and its Direct Permitted
Transferees cease to own at the time of making the Request Notice twenty-five
percent (25%) or more of the shares of Common Stock of the Company owned as of
the date hereof (as adjusted for Adjustments) and (ii) the Request Notice
relates to less than twenty-five percent (25%) of the shares of Common Stock
held by such Demand Holder. In addition, the Company will not be required to
effect more than (i) two registrations pursuant to this Section 5.02 on behalf
of Company Shareholder, (ii) one registration on behalf of RM pursuant to this
Section 5.02, (iii) two registrations on behalf of CSFB pursuant to this Section
5.02; provided that CSFB will be afforded one additional Demand Registration in
the event that CSFB has not been able to dispose of all of the Registrable
Securities requested to be registered by CSFB with its initial two Demand
Registrations; provided that the Company shall not be obligated to attend or
participate in any "road shows" if such third and final Demand Registration is
for less than 10% of the shares of Common Stock of the Company owned by CSFB
immediately following the Transactions (as adjusted for Adjustments and (iv) one
demand on behalf of the QI Demand Holders as a group (other than CSFB) pursuant
to this Section 5.02. Sponsor and its Affiliates will be entitled to an
unlimited number of Demand Registrations. It being understood that if two or
more Demand
<PAGE>   33
                                      -30-

Holders make a collective Demand Registration, such Demand ( ) Registration
will count pursuant to this Section 5.02(b) as a Demand Registration for each
such Demand Holder. It is hereby acknowledged and agreed by the parties that any
Registrable Securities included in a registration statement on behalf of an
Incidental Demand Holder will not count as a Demand Registration for such
Incidental Demand Holder. In connection with a Demand Registration by more than
one Demand Holder or by a Demand Holder and Incidental Demand Holders, such
Demand Holders and Incidental Demand Holders shall elect one such Holder to act
as representative (the "DH Representative") in connection with such Demand
Registration and the Company shall only be obligated to communicate with such DH
Representative in connection with such Demand Registration. The Holders shall
give the Representative any and all necessary powers of attorneys needed for the
DH Representative to act on their behalf.

                  (c)      Revocation. Holders of a majority in number of the
Registrable Securities to be included in a registration statement pursuant to
this Section 5.02 may, at any time prior to the effective date of the
registration statement relating to such Demand Registration, acting through
their DH Representative revoke such request by providing a written notice
thereof to the Company. The Holders of Registrable Securities who revoke such
request shall reimburse the Company for all its expenses incurred in the
preparation, filing and processing of the Registration Statement. If pursuant to
the terms of this Section 5.02(c), the Holders reimburse the Company for its
reasonable expenses incurred in the preparation, filing and processing of any
registration statement requested and subsequently revoked by such Holders, the
attempted registration by such requested and subsequently revoked registration
statement shall not be deemed to be a Demand Registration. Notwithstanding the
foregoing, the Holders of a majority in number of the Registrable Securities to
be included in a registration statement pursuant to this Section 5.02 may, at
any time within five days after receipt of any Delay Notice acting through their
DH Representative revoke such request by providing written notice thereof to the
Company and the attempted Demand Registration shall not be deemed to be a Demand
Registration, notwithstanding that such Holders shall not reimburse the Company
for any expenses incurred in the preparation, filing and processing of any
Registration Statement.

                  (d)      Effective Registration. A registration will not count
as a Demand Registration: (i) if a Holder determines in its good faith judgment
to withdraw the proposed registration of any Registrable Securities requested to
be registered by a Demand Holder (x) due to marketing or regulatory reasons
subject to such Holder reimbursing the Company for its expenses in accordance
with Section 5.02(c) above, or (y) due to a material adverse change in the
Company (other than as a result of any action by the Holder); (ii) if such
registration is interfered with by any stop order, injunction or other order or
requirement of the Commission or other governmental agency or court for any
reason (other than as a result of any action by the Holder) and the Company
fails to promptly have such stop order, injunction or other order or requirement
removed, withdrawn or resolved to the Holder's satisfaction; or (iii) the
conditions to closing specified in the underwriting agreement or purchase
agreement entered into in
<PAGE>   34
                                      -31-

connection with the registration relating to any such demand are not satisfied
(other than as a result of a default or breach thereunder by the relevant
Holder).

                  (e)      Selection of Underwriters. If any of the Registrable
Securities covered by a Demand Registration are to be sold in an underwritten
offering, the relevant Holder, or Holders, will have the right to select the
managing underwriter(s) to administer the offering subject to the approval of
the Company, which will not be unreasonably withheld.

                  (f)      Priority on Demand Registrations. If the managing
underwriter or underwriters of a Demand Registration advise the Company in
writing that in its or their opinion the number of Registrable Securities
proposed to be sold in such Demand Registration exceeds the number which can be
sold, or adversely affects the price at which the Registrable Securities are to
be sold, in such offering, the Company will include in such registration only
the number of Registrable Securities which, in the opinion of such underwriter
or underwriters, can be sold in such offering without such material adverse
effect. To the extent such Demand Registration includes Registrable Securities
of more than one Holder, the Registrable Securities so included in such Demand
Registration shall be apportioned (i) first, pro rata among such Holders based
upon the number of shares of Common Stock owned by each Holder at the date of
determination and (ii) second, pro rata among other shares of Common Stock
included in such Demand Registration; provided that if such Demand Registration
is effected pursuant to a Demand Request by either Company Shareholder or RM
such number of Registrable Securities (as adjusted for Adjustments) of either
Company Shareholder or RM that are owned by Company Shareholder and RM
immediately following the Transactions will be included first without regard to
the pro rata treatment described in clause (i) of this sentence.

                  (g)      Assignability of Demand Registration Rights. The
rights offered a Shareholder pursuant to Section 5.02 are only assignable to a
Direct Permitted Transferee. Notwithstanding the foregoing, CSFB will be able to
assign its rights under this Article V to a Transferee that acquires from CSFB
at least 25% of the shares of Common Stock owned by CSFB as of the date hereof
(as adjusted for Adjustments). Any such assignment permitted hereunder shall be
effected hereunder only by giving written notice thereof from both the
transferee and the transferee to the Company.

                  SECTION 5.03. Registration Procedures. It shall be a condition
precedent to the obligations of the Company and any underwriter or underwriters
to take any action pursuant to this Article V that the Shareholders requesting
inclusion in any Piggyback Registration or Demand Registration (a
"Registration") shall furnish to the Company such information regarding them,
the Registrable Securities held by them, the intended method of disposition of
such Registrable Securities, and such agreements regarding indemnification,
disposition of such securities and other matters referred to in this Article V
as the Company shall reasonably request and as shall be required in connection
with the action to be taken by the Company.
<PAGE>   35
                                      -32-

With respect to any Registration which includes Registrable Securities held by a
Shareholder, the Company will, subject to Sections 5.01 and 5.02 promptly:

                  (a) Prepare and file with the Commission a registration
         statement on the appropriate form prescribed by the Commission and use
         its best efforts to cause such registration statement to become
         effective as soon as practicable thereafter; provided that the Company
         shall not be obligated to maintain such registration effective for a
         period longer than the Effectiveness Period; provided further that
         before filing a registration statement or prospectus or any amendments
         or supplements thereto, including documents incorporated by reference
         after the initial filing of the registration statement, the Company
         will furnish to the holders of the Registrable Securities covered by
         such registration statement and the underwriter or underwriters, if
         any, copies of or drafts of all such documents proposed to be filed,
         including documents incorporated by reference in the Prospectus and, if
         required by such holders, the exhibits incorporated by reference, at
         least three (3) business days prior thereto, which documents will be
         subject to the reasonable review of such holders and underwriters.
         Holders will have the opportunity to object to any information
         pertaining to such holders that is contained therein and the Company
         will make the corrections reasonably requested by such holders with
         respect to such information prior to filing any registration statement
         or amendment thereto or any prospectus or any supplement thereto;
         provided, however, that the Company will not file any registration
         statement or amendment thereto or any prospectus or any supplement
         thereto or any documents required to be incorporated by reference
         therein to which holders of a majority of the Registrable Securities
         covered by such registration statement or the underwriters, if any,
         shall reasonably object;

                  (b) Prepare and file with the Commission such amendments and
         post-effective amendments to such registration statement and any
         documents required to be incorporated by reference therein as may be
         necessary to keep the registration statement effective for a period of
         not less than the Effectiveness Period (but not prior to the expiration
         of the time period referred to in Section 4(3) of the 1933 Act and Rule
         174 thereunder, if applicable); cause the prospectus to be supplemented
         by any required prospectus supplement, and as so supplemented to be
         filed pursuant to Rule 424 under the 1933 Act; and comply with the
         provisions of the 1933 Act applicable to it with respect to the
         disposition of all Registrable Securities covered by such registration
         statement during the applicable period in accordance with the intended
         methods of disposition by the sellers thereof set forth in such
         registration statement or supplement to the prospectus;

                  (c) Furnish to such Shareholder, without charge, such number
         of conformed copies of the registration statement and any
         post-effective amendment thereto, as such Shareholder may reasonably
         request, and such number of copies of the
<PAGE>   36
                                      -33-

         prospectus (including each preliminary prospectus) and any amendments
         or supplements thereto, and any documents incorporated by reference
         therein as the Shareholder or underwriter or underwriters, if any, may
         request in order to facilitate the disposition of the securities being
         sold by the Shareholder (it being understood that the Company consents
         to the use of the prospectus and any amendment or supplement thereto by
         the Shareholder covered by the registration statement and the
         underwriter or underwriters, if any, in connection with the offering
         and sale of the securities covered by the prospectus or any amendments
         or supplements thereto);

                  (d) Notify such Shareholder, at any time when a prospectus
         relating thereto is required to be delivered under the 1933 Act, when
         the Company becomes aware of the happening of any event as a result of
         which the prospectus included in such registration statement (as then
         in effect) contains any untrue statement of material fact or omits to
         state a material fact necessary to make the statements therein (in the
         case of the prospectus or any preliminary prospectus, in light of the
         circumstances under which they were made) not misleading and, as
         promptly as practicable thereafter, prepare and file with the
         Commission and furnish a supplement or amendment to such prospectus so
         that, as thereafter delivered to the investors of such 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 light of the circumstances under which they were made, not
         misleading;

                  (e) In the case of an underwritten offering, enter into such
         customary agreements (including underwriting agreements in customary
         form) and make members of senior management of the Company available on
         a basis reasonably requested by the underwriters to participate in,
         "road show" and other customary marketing activities (including
         one-on-one meetings with prospective purchasers of the Registrable
         Securities) and cause to be delivered to the underwriters reasonable
         opinions of counsel to the Company in customary form, covering such
         matters as are customarily covered by opinions for an underwritten
         public offering as the underwriters may reasonably request and
         addressed to the underwriters;

                  (f) Make available, for inspection by any seller of
         Registrable Securities, any underwriter participating in any
         disposition pursuant to a registration statement, and any attorney,
         accountant or other agent retained by any such seller or underwriter,
         all financial and other records, pertinent corporate documents and
         properties of the Company, and cause the Company's officers, directors,
         employees and independent accountants to supply all information
         reasonably requested by any such seller, underwriter, attorney,
         accountant or agent that are necessary to be reviewed by such person in
         connection with the preparation of such registration statement;
<PAGE>   37
                                      -34-

                  (g) If requested, cause to be delivered, immediately prior to
         the effectiveness of the registration statement (and, in the case of an
         underwritten offering, at the time of delivery of any Registrable
         Securities sold pursuant thereto), letters from the Company's
         independent certified public accountants addressed to each selling
         Shareholder (unless such selling Shareholder does not provide to such
         accountants the appropriate representation letter required by rules
         governing the accounting profession) and each underwriter, if any,
         stating that such accountants are independent public accountants within
         the meaning of the 1933 Act and the applicable rules and regulations
         adopted by the Commission thereunder, and otherwise in customary form
         and covering such financial and accounting matters as are customarily
         covered by letters of the independent certified public accountants
         delivered in connection with primary or secondary underwritten public
         offerings, as the case may be;

                  (h) Provide a transfer agent and registrar for all such
         Registrable Securities not later than the effective date of the
         registration statement;

                  (i) Use its best efforts to cause all securities included in
         such registration statement to be listed, by the date of the first sale
         of securities pursuant to such registration statement, on any national
         securities exchange, quotation system or other market on which the
         Common Stock is then listed or proposed to be listed by the Company, if
         any;

                  (j) Make generally available to its security holders an
         earnings statement, which need not be audited, satisfying the
         provisions of Section 11(a) of the 1933 Act as soon as reasonably
         practicable after the end of the twelve (12)-month period beginning
         with the first month of the Company's first fiscal quarter commencing
         after the effective date of the registration statement, which statement
         shall cover said twelve (12)-month period;

                  (k) After the filing of a registration statement, (i) promptly
         notify each Shareholder holding Registrable Securities covered by such
         registration statement of any stop order issued or, to the Company's
         knowledge, threatened by the Commission and of the receipt by the
         Company of any notification with respect to the suspension of the
         qualification of any Registrable Securities for sale under the
         applicable securities or blue sky laws of any jurisdiction and (ii)
         take all reasonable actions to obtain the withdrawal of any order
         suspending the effectiveness of the registration statement or the
         qualification of any Registrable Securities at the earliest possible
         moment;

                  (l) Subject to the time limitations specified in paragraph (b)
         above, if requested by the managing underwriter or underwriters or such
         Shareholder, promptly incorporate in a prospectus supplement or
         post-effective amendment such information as the managing underwriter
         or underwriters or the Shareholder reasonably requests to be included
         therein, including, without limitation, with respect to the number of
         shares
<PAGE>   38
                                      -35-

         being sold by the Shareholder to such underwriter or underwriters, the
         purchase price being paid therefor by such underwriter or underwriters
         and with respect to any term of the underwritten offering of the
         securities to be sold in such offering; and make all required filings
         of such prospectus supplement or post-effective amendment as soon as
         practicable after being notified of the matters to be incorporated in
         such prospectus supplement or post-effective amendment;

                  (m) As promptly as practicable after filing with the
         Commission of any document which is incorporated by reference into a
         registration statement, deliver a copy of such document to such
         Shareholder;

                  (n) On or prior to the date on which the registration
         statement is declared effective, use its best efforts to register or
         qualify, and cooperate with such Shareholder, the underwriter or
         underwriters, if any, and their counsel in connection with the
         registration or qualification of, the securities covered by the
         registration statement for offer and sale under the securities or blue
         sky laws of each state and other jurisdiction of the United States as
         the Shareholder or managing underwriter or underwriters, if any,
         requests in writing, to use its best efforts to keep each such
         registration or qualification effective, including through new filings,
         or amendments or renewals, during the Effectiveness Period do any and
         all other acts or things necessary or advisable to enable the
         disposition in all such jurisdictions of the Registrable Securities
         covered by the applicable registration statement; provided that the
         Company will not be required to qualify generally to do business in any
         jurisdiction where it is not then so qualified or to take any action
         which would subject it to general service of process in any such
         jurisdiction where it is not then so subject;

                  (o) Cooperate with such Shareholder and the managing
         underwriter or underwriters, if any, to facilitate the timely
         preparation and delivery of certificates (not bearing any restrictive
         legends) representing securities to be sold under the registration
         statement, and enable such securities to be in such denominations and
         registered in such names as the managing underwriter or underwriters,
         if any, may request; and

                  (p) Use its best efforts to cause the securities covered by
         the registration statement to be registered with or approved by such
         other governmental agencies, authorities or self-regulatory bodies
         within the United States as may be necessary to enable the seller or
         sellers thereof or the underwriter or underwriters, if any, to
         consummate the disposition of such Registrable Securities.

                  At all times after an Initial Public Offering, the Company
shall file all reports required to be filed by it under the 1933 Act and the
1934 Act and the rules and regulations adopted by the Commission thereunder, and
take such further action as any Shareholders may reasonably request, all to the
extent required to enable such Shareholders to be eligible to sell Registrable
Securities pursuant to Rule 144 (or any similar rule then in effect).
<PAGE>   39
                                      -36-

                  The Shareholders, upon receipt of any notice from the Company
of the happening of any event of the kind described in subsection (d) of this
Section 5.03, will forthwith discontinue disposition of the securities until the
Shareholders' receipt of the copies of the supplemented or amended prospectus
contemplated by subsection (d) of this Section 5.03 or until it is advised in
writing (the "Advice") by the Company that the use of the prospectus may be
resumed, and has received copies of any additional or supplemental filings which
are incorporated by reference in the prospectus, and, if so directed by the
Company, each Shareholder will, or will request the managing underwriter or
underwriters, if any, to, deliver, to the Company (at the Company's expense) all
copies, other than permanent file copies then in such Shareholder's possession,
of the prospectus covering such securities current at the time of receipt of
such notice. In the event the Company shall give any such notice, the time
periods mentioned in subsections (a), (b) and (n) of this Section 5.03 shall be
extended by the number of days during the period from and including any date of
the giving of such notice to and including the date when each seller of
securities covered by such registration statement shall have received the copies
of the supplemented or amended prospectus contemplated by subsection (d) of this
Section 5.03 hereof or the Advice.

                  SECTION 5.04. Registration Expenses. (a) Subject to Section
5.02(c), in the case of any Registration, the Company shall bear all expenses
incident to the Company's performance of or compliance with Sections 5.01, 5.02
and 5.03 of this Agreement, including, without limitation, all Commission and
stock exchange or National Association of Securities Dealers, Inc. registration
and filing fees and expenses, fees and expenses of compliance with securities or
blue sky laws (including, without limitation, reasonable fees and disbursements
of counsel in connection with blue sky qualifications of the Registrable
Securities), rating agency fees, printing expenses, messenger, telephone and
delivery expenses, fees and disbursements of counsel for the Company and all
independent certified public accountants and any fees and disbursements of
underwriters customarily paid by issuers or sellers of securities (but not
including any underwriting discounts or commissions, or transfer taxes, if any,
attributable to the sale of Registrable Securities by a Piggyback Holder or
Holder or fees and expenses of more than one counsel representing the
Shareholders selling Registrable Securities under such Registration).

                  (b)      In connection with each registration initiated
hereunder (whether a Demand Registration or a Piggyback Registration), the
Company shall reimburse the holders covered by such registration or sale for the
reasonable fees and disbursements of one law firm chosen by the holders of a
majority of the number of shares of Registrable Securities included in such
registration.

                  (c)      The obligation of the Company to bear the expenses
described in Section 5.04(b) and to reimburse the holders for the expenses
described in Section 5.04(b) shall apply irrespective of whether a registration,
once properly demanded, if applicable, becomes effective, is withdrawn or
suspended, or is converted to another form of registration and
<PAGE>   40
                                      -37-

irrespective of when any of the foregoing shall occur; provided, however, that
the expenses for any registration statement withdrawn pursuant to 5.02(c) prior
to its effectiveness at the request of a Holder (unless withdrawn following and
due to a Delay Notice), any registration statement withdrawn solely at the
request of a Holder, or any supplements or amendments to a registration
statement or prospectus resulting from a misstatement furnished to the Company
by a Holder, shall be borne by such Holder.

                  SECTION 5.05.  Indemnification.

                  (a)      Indemnification by the Company. The Company agrees to
indemnify and hold harmless each Shareholder, its officers, directors,
Affiliates and agents and each Person who controls (within the meaning of the
1933 Act or the 1934 Act) the Shareholder, including, without limitation any
general partner or manager of any thereof, against all losses, claims, damages,
liabilities and expenses (including reasonable counsel fees and disbursements)
arising out of or based upon any untrue or alleged untrue statement of a
material fact contained in any registration statement, prospectus or preliminary
prospectus, or any amendment thereof or supplement thereto, in which such
Shareholder participates in an offering of Registrable Securities or in any
document incorporated by reference therein or any omission or alleged omission
to state therein a material fact required to be stated therein or necessary to
make the statements therein (in the case of the prospectus or any preliminary
prospectus, in light of the circumstances under which they were made) not
misleading, except insofar as the same are made in reliance on and in conformity
with any information with respect to such Shareholder furnished in writing to
the Company by such Shareholder expressly for use therein; provided, however,
that the foregoing indemnity agreement with respect to any preliminary
prospectus shall not inure to the benefit of any Shareholder from whom the
Person asserting such loss, claim, damage or liability purchased the securities
if it is determined that such loss, claim, damage or liability was caused by
such Shareholder's failure to deliver to such Shareholder's immediate purchaser
a current copy of the prospectus (if the current copy of the prospectus was
required by applicable law to be so delivered) after the Company has furnished
such Shareholder with a sufficient number of copies of such prospectus. The
Company will also indemnify underwriters (as such term is defined in the 1933
Act), their officers and directors and each Person who controls such
underwriters (within the meaning of the 1933 Act) to the same extent as provided
above with respect to the indemnification of the Shareholders.

                  (b)      Indemnification by the Shareholders. In connection
with any registration statement in which a Shareholder is participating, each
such Shareholder will furnish to the Company in writing such information and
affidavits with respect to such Shareholder as the Company reasonably requests
for use in connection with any registration statement or prospectus covering the
Registrable Securities of such Shareholder and to the extent permitted by law
agrees to indemnify and hold harmless the Company, its directors, officers and
agents and each Person who controls (within the meaning of the 1933 Act or the
1934 Act) the Company,
<PAGE>   41
                                      -38-

against any losses, claims, damages, liabilities and expenses arising out of or
based upon any untrue statement of a material fact or any omission to state a
material fact required to be stated therein or necessary to make the statements
in the registration statement or prospectus or preliminary prospectus (in the
case of the prospectus or preliminary prospectus, in light of the circumstances
under which they were made) not misleading, to the extent, but only to the
extent, that such untrue statement or omission is made in reliance on and in
conformity with the information or affidavit with respect to such Shareholder so
furnished in writing by such Shareholder expressly for use in the registration
statement or prospectus; provided, however, that the obligation to indemnify
shall be several, not joint and several, among such Shareholders and the
liability of each such Shareholder shall be in proportion to and limited to the
net amount received by such Shareholder from the sale of Registrable Securities
pursuant to a registration statement in accordance with the terms of this
Agreement. The indemnity agreement contained in this Section 5.05 shall not
apply to amounts paid in settlement of any such loss, claim, damage, liability,
action or proceeding if such settlement is effected without the consent of such
seller (which consent shall not be unreasonably withheld or delayed). The
Company and the holders of the Registrable Securities hereby acknowledge and
agree that, unless otherwise expressly agreed to in writing by such holders, the
only information furnished or to be furnished to the Company for use in any
registration statement or prospectus relating to the Registrable Securities or
in any amendment, supplement or preliminary materials associated therewith are
statements specifically relating to (a) transactions or the relationship between
such holder and its Affiliates, on the one hand, and the Company, on the other
hand, (b) the beneficial ownership of shares of Common Stock by such holder and
its Affiliates, (c) the name and address of such holder and (d) any additional
information about such holder or the plan of distribution (other than for an
underwritten offering) required by law or regulation to be disclosed in any such
document.

                  (c)      Conduct of Indemnification Proceedings. Any Person
entitled to indemnification hereunder will (i) give prompt written notice to the
indemnifying party of any claim with respect to which it seeks indemnification
and (ii) unless in such indemnified party's reasonable judgment a conflict of
interest may exist between such indemnified and indemnifying parties with
respect to such claim, permit such indemnifying party to assume the defense of
such claim with counsel reasonably satisfactory to the indemnified party. The
failure to so notify the indemnifying party shall not relieve the indemnifying
party from any liability hereunder with respect to the action, except to the
extent that such indemnifying party is materially prejudiced by the failure to
give such notice; provided, however, that any such failure shall not relieve the
indemnifying party from any other liability which it may have to any other
party. No indemnifying party in the defense of any such claim or litigation,
shall, except with the consent of such indemnified party, which consent shall
not be unreasonably withheld, consent to entry of any judgment or enter into any
settlement which does not include as an unconditional term thereof the giving by
the claimant or plaintiff to such indemnified party of a release from all
liability in respect of such claim or litigation. An indemnifying party who is
not entitled to, or elects not to, assume the defense of a claim will not be

<PAGE>   42
                                      -39-

obligated to pay the fees and expenses of more than one counsel for all parties
indemnified by such indemnifying party with respect to such claim, unless in the
reasonable judgment of any indemnified party there may be one or more legal or
equitable defenses available to such indemnified party which are in addition to
or may conflict with those available to any other of such indemnified parties
with respect to such claim, in which event the indemnifying party shall be
obligated to pay the reasonable fees and expenses of such additional counsel or
counsels; provided, however, that such number of additional counsel must be
reasonably acceptable to the indemnifying party.

                  (d)      Contribution. If for any reason the indemnification
provided for in the preceding paragraphs (a) and (b) of this Section 5.05 is
unavailable to an indemnified party as contemplated by the preceding paragraphs
(a) and (b) of this Section 5.05, then the indemnifying party shall contribute
to the amount paid or payable by the indemnified party as a result of such loss,
claim, damage or liability in such proportion as is appropriate to reflect not
only the relative benefits received by the indemnified party and the
indemnifying party, but also the relative fault of the indemnified party and the
indemnifying party, as well as any other relevant equitable considerations. In
no event shall the liability of any selling Shareholder be greater in amount
than the amount of net proceeds received by such Shareholder upon such sale or
the amount for which such indemnifying party would have been obligated to pay by
way of indemnification if the indemnification provided in paragraph (b) of this
Section 5.05 had been available.

                  SECTION 5.06. 1934 Act Reports. The Company agrees that at all
times after it has filed a registration statement pursuant to the requirements
of the 1933 Act relating to any class of equity securities of the Company, it
will use its best efforts to file in a timely manner all reports required to be
filed by it pursuant to the 1934 Act to the extent the Company is required to
file such reports. Notwithstanding the foregoing, the Company may deregister any
class of its equity securities under Section 12 of the 1934 Act or suspend its
duty to file reports with respect to any class of its securities pursuant to
Section 15(d) of the 1934 Act if it is then permitted to do so pursuant to the
1934 Act and rules and regulations thereunder.

                  SECTION 5.07. Holdback Agreements. (a) Whenever the Company
proposes to register any of its equity securities under the 1933 Act for its own
account (other than on Form S-4 or S-8 or any similar successor form or another
form used for a purpose similar to the intended use of such forms) or is
required to use its best efforts to effect the registration of any Registrable
Securities under the 1933 Act pursuant to Section 5.01 or 5.02, each holder of
Registrable Securities agrees by acquisition of such Registrable Securities not
to effect any sale or distribution, including any sale pursuant to Rule 144
under the 1933 Act, or to request registration under Section 5.02 of any
Registrable Securities within 10 days prior to and 90 days (unless advised by
the managing underwriter that a longer period, not to exceed 180 days, is
required, or such shorter period as the managing underwriter for any
underwritten
<PAGE>   43
                                      -40-

offering may agree) after the effective date of the registration statement
relating to such registration, except as part of such registration or unless in
the case of a private sale or distribution, the transferee agrees in writing to
be subject to this Section 5.07. If requested by such managing underwriter, each
holder of Registrable Securities agrees to execute a holdback agreement, in
customary form, consistent with the terms of this Section 5.07(a).
Notwithstanding the foregoing, no Shareholder will be restricted from selling
any Registrable Securities if such Shareholder was not able to sell all of its
Registrable Securities pursuant to such registration statement or such
Shareholder and its Affiliates beneficially own a number of shares of Common
Stock as of such date of determination equal to less than three percent (3%) of
the outstanding Common Stock of the Company.

                  (b)      The Company agrees not to effect any sale or
distribution of any of its equity securities or securities convertible into or
exchangeable or exercisable for any of such securities within the 10 days prior
to and during the 90 days (unless advised by the managing underwriter that a
longer period, not to exceed 180 days, is required, or such shorter period as
the managing underwriter for any underwritten offering may agree) beginning on
the effective date of any underwritten Demand Registration or any underwritten
Piggyback Registration (except as part of such underwritten registration or
pursuant to registrations on Form S-8 or S-4 or any successor forms thereto),
except that such restriction shall not prohibit (i) grants of employee stock
options or other issuances of Capital Stock pursuant to the terms of a Company
employee benefit plan, issuances by the Company of Capital Stock pursuant to the
exercise of such options or the exercise of any other employee stock options
outstanding on the date hereof, (ii) the Company from issuing shares of Capital
Stock in private placements pursuant to Section 4(2) of the 1933 Act or in
connection with a strategic alliance, or (iii) the Company from publicly
announcing its intention to issue, or actually issuing, shares of Capital Stock
to shareholders of another entity as consideration for the Company's acquisition
of, or merger with, such entity. In addition, upon the request of the managing
underwriter, the Company shall use its best efforts to cause each holder of its
equity securities or any securities convertible into or exchangeable or
exercisable for any of such securities whether outstanding on the date of this
Agreement or issued at any time after the date of this Agreement (other than any
such securities acquired in a public offering), to agree not to effect any such
public sale or distribution of such securities during such period, except as
part of any such registration if permitted, and to cause each such holder to
enter into a similar agreement to such effect with the Company.

                  SECTION 5.08. Participation in Registrations. No Shareholder
may participate in any Registration hereunder which is underwritten unless such
Shareholder (a) agrees to sell its securities on the basis provided in any
underwriting arrangements approved by the persons entitled hereunder to approve
such arrangements, and (b) completes and executes all questionnaires, powers of
attorney, underwriting agreements and other documents customarily required under
the terms of such underwriting arrangements.
<PAGE>   44
                                      -41-

                  SECTION 5.09. Remedies. Each Shareholder shall have the right
and remedy to have the provisions of Sections 5.01 and 5.02 specifically
enforced by any court having jurisdiction in the event that the Company
materially breaches such provisions, and the Company shall reimburse such
Shareholder for the reasonable costs of and expenses for counsel for such
Shareholder incurred in connection with such proceeding.

                  SECTION 5.10. Other Registration Rights. The Company will not
grant any Person any demand or piggyback registration rights with respect to the
Capital Stock of the Company other than registration rights that would not be in
conflict or inconsistent with the rights of the Shareholders as set forth in
this Article V.

                  SECTION 5.11. Rule 144. The Company shall file any reports
required to be filed by it under the 1933 Act and the 1934 Act and the rules and
regulations adopted by the Commission thereunder, and it will take such further
action as any holder may reasonably request to make available adequate current
public information with respect to the Company meeting the current public
information requirements of Rule 144(c) under the 1933 Act, to the extent
required to enable such holder to sell Registrable Securities without
registration under the 1933 Act within the limitation of the exemptions provided
by (i) Rule 144 under the 1933 Act, as such Rule may be amended from time to
time, or (ii) any similar rule or regulation hereafter adopted by the
Commission. Notwithstanding the foregoing, nothing in this Section 5.11 shall be
deemed to require the Company to register any of its securities pursuant to the
1934 Act.

                                   ARTICLE VI

                  RIGHTS OF HOLDERS OF CLASS A pREFERRED STOCK

                  SECTION 6.01. Series A Preferred Stock. For so long as Company
Shareholder or one of its Affiliates is the direct or indirect beneficial owner
of at least $10.0 million in liquidation preference of Class A Preferred Stock,
the Company will not (1) register for sale in any underwritten public offering
any shares of Common Stock beneficially owned by Sponsor and its Affiliates or
(2) redeem or repurchase any shares of Common Stock beneficially owned by
Sponsor and its Affiliates out of the proceeds of any underwritten public
offering by the Company, in any such case, without optionally redeeming or
repurchasing all of the shares of Class A Preferred Stock owned by Company
Shareholder and its Affiliates; provided, however, that if the Company has no
such right to optionally redeem or repurchase all of the shares of Class A
Preferred Stock, then the Company, at its option, may offer to purchase for cash
all of the Class A Preferred Stock held by Company Shareholder and its
Affiliates at a price equal to the liquidation preference of the Class A
Preferred Stock, together with cumulated and unpaid dividends. The provisions of
this Section 6.01 will no longer be operative once the Company has made such
offer regardless of whether or not the Company Shareholder sells any shares of
Class A Preferred Stock pursuant to such offer unless such offer is
<PAGE>   45
                                      -42-

not effected because the Company does not purchase the shares of Class A Common
Stock which Company Shareholder has requested be purchased.

                  SECTION 6.02. Management Fee. For so long as Company
Shareholder or any of its Affiliates is the direct or indirect beneficial owner
of any Class A Preferred Stock, Sponsor agrees that any management fee due and
owning to Sponsor by the Company will accrue but not be payable if at any time
there are cumulated and unpaid dividends in respect of the Class A Preferred
Stock.

                                   ARTICLE VII

                                  MISCELLANEOUS

                  SECTION 7.01. Notices. All notices, requests and other
communications to any party, hereunder shall be in writing (including bank wire,
telex, facsimile or similar writing) and shall be given to such party at its
address or telex or facsimile number set forth on the signature pages hereof or
in the relevant Joinder Agreement or such other address or telex or facsimile
number as such party may hereafter specify in writing to the Secretary of the
Company for the purpose by notice to the party sending such communication. Each
such notice, request or other communication shall be effective (i) if given by
telex or facsimile, when such message is transmitted to the number specified on
the signature pages to this Agreement or any Joinder Agreement, (ii) if given by
mail, three (3) business days after such communication is deposited in the mails
registered or certified, return receipt requested, with postage prepaid,
addressed as aforesaid, or (iii) if given by any other means, when delivered at
the address specified on the signature pages to this Agreement or any Joinder
Agreement.

                  SECTION 7.02. Binding Effect; Benefits; Entire Agreement. This
Agreement shall be binding upon and inure to the benefit of the parties to this
Agreement and their respective successors and permitted assigns. Nothing in this
Agreement, express or implied, is intended or shall be construed to give any
person other than the parties to this Agreement or their respective successors
or assigns any legal or equitable right, remedy or claim under or in respect of
any agreement or any provision contained herein. This Agreement constitutes the
entire agreement and understanding, and supersedes all prior agreements and
understandings, both oral and written, between the parties hereto relating to
the subject matter hereof.

                  SECTION 7.03. Waiver. Any party hereto may by written notice
to the other (a) extend the time for the performance of any of the obligations
or other actions of any other party under this Agreement; (b) waive compliance
with any of the conditions or covenants of any other party contained in this
Agreement; and (c) waive or modify performance of any of the obligations of any
other party under this Agreement. Except as provided in the preceding sentence,
no action taken pursuant to this Agreement, including, without limitation, any
investigation by or on behalf of any party, shall be deemed to constitute a
waiver by the party taking such action of compliance with any representations,
warranties, covenants or
<PAGE>   46
                                      -43-

agreements contained herein. The waiver by any party hereto of a breach of any
provision of this Agreement shall not operate or be construed as a waiver of any
preceding or succeeding breach and no failure by any party to exercise any right
or privilege hereunder shall be deemed a waiver of such party's rights or
privileges hereunder or shall be deemed a waiver of such party's rights to
exercise the same at any subsequent time or times hereunder.

                  SECTION 7.04. Amendment. Other than as a result of the
execution and delivery of a Joinder Agreement, this Agreement may not be
amended, modified or supplemented in any respect except by a written instrument
executed by each Shareholder and the Company; provided that this Agreement may
be amended and restated or amended without consent of Shareholders for the
addition of new shareholders after the date hereof if such addition does not
adversely affect the rights of the Shareholders (it being agreed that the
provision of demand registration rights and piggyback registration rights and
tag-along rights on an equal basis with HIP Co-Investors will not constitute an
adverse affect).

                  SECTION 7.05. Assignability. Neither this Agreement nor any
right, remedy, obligation or liability arising hereunder or by reason hereof
shall be assignable by either the Company or any Shareholder except as otherwise
expressly stated hereunder or with the prior written consent of each other
party. A Direct Permitted Transferee who executes a Joinder Agreement in
accordance with the provisions hereof may be assigned any rights available
hereunder (other than Section 4.06). All of the rights offered a Shareholder
under this Agreement who executes a Joinder Agreement are assignable to a
Transferee, except for the rights set forth in Sections 4.05, 4.06, 4.07, 4.08,
4.09, 4.10 and 5.02 (other than certain rights granted to CSFB pursuant to
Section 5.02). The rights set forth in Sections 4.04 and 5.02 are assignable to
a Transferee who executes a Joinder Agreement to the extent provided in Section
4.04 and 5.02(g), respectively.

                  SECTION 7.06. Applicable Law. This Agreement shall be governed
by and construed in accordance with the laws of the State of New York,
regardless of the laws that might otherwise govern under applicable principles
of conflicts of law that would require the application of the laws of another
jurisdiction, and the parties irrevocably submit to (and waive immunity from)
the jurisdiction of the federal and state courts located in the County of New
York in the State of New York.

                  SECTION 7.07. Specific Performance. The parties hereto agree
that irreparable damage would occur in the event that any of the provisions of
this Agreement were not performed in accordance with their specific terms or
were otherwise breached. It is accordingly agreed that the parties shall be
entitled to an injunction or injunctions to prevent breaches of the provisions
of this Agreement and to enforce specifically the terms and provisions hereof in
any state or federal court of New York (this being in addition to any other
remedy to which they are entitled at law or in equity), and each party hereto
agrees to waive in any action for such enforcement the defense that a remedy at
law would be adequate.
<PAGE>   47
                                      -44-

                  SECTION 7.08. Severability. If any provision of this Agreement
is declared by any court of competent jurisdiction to be illegal, void or
unenforceable, all other provisions of the Agreement will not be affected and
will remain in full force and effect.

                  SECTION 7.09. Additional Securities Subject to Agreement. Each
Shareholder agrees that any other shares of Common Stock of the Company which it
hereafter acquires by means of a stock split, stock dividend, distribution,
exercise of options or warrants or otherwise (other than pursuant to a public
offering) whether by merger, consolidation or otherwise (including shares of a
surviving corporation into which the shares of Common Stock of the Company are
exchanged in such transaction) will be subject to the provisions of this
Agreement to the same extent as if held on the date hereof, including for
purposes of constituting Registrable Securities hereunder.

                  SECTION 7.10. Name Change. For the benefit of Company
Shareholder, the Company agrees to change its corporate name (but not the trade
names used by its businesses) to exclude "Masco" or a derivation thereof from
its corporate name prior to consummating an Initial Public Offering of its
Common Stock.

                  SECTION 7.11. Section and Other Headings. The section and
other headings contained in this Agreement are for reference purposes only and
shall not affect the meaning or interpretation of this Agreement.

                  SECTION 7.12. Counterparts. This Agreement may be executed in
any number of counterparts, each of which shall be deemed to be an original and
all of which together shall be deemed to be one and the same instrument. A
facsimile, telecopy or other reproduction of this Agreement may be executed by
one or more parties hereto, and an executed copy of this Agreement may be
delivered by one or more parties hereto by facsimile or similar instantaneous
electronic transmission device pursuant to which the signature of or on behalf
of such party can be seen, and such execution and delivery shall be considered
valid, binding and effective for all purposes. At the request of any party
hereto, all parties hereto agree to execute an original of this Agreement as
well as any facsimile, telecopy or other reproduction hereof.

                  SECTION 7.13. Termination of Certain Provisions. The
provisions of this Agreement set forth in Sections 3.01, 3.02, 4.01, 4.02, 4.03,
4.04(b) (except as it relates to CSFB and Company Shareholder), 4.04(d) (except
as it relates to CSFB and Company Shareholder) and 4.09 will terminate and be of
no force and effect upon the occurrence of a Qualifying Public Equity Offering.
The provisions of this Agreement set forth in Sections 4.04(a) (except as it
relates to CSFB and Company Shareholder) and 4.05 will terminate and be of no
force and effect upon the occurrence of an Initial Public Offering. The
provisions of this Agreement set forth in Sections 4.04 (insofar as it relates
to CSFB and Company Shareholder), 4.06, 4.07, 4.08 and 4.10 will terminate as to
a particular Shareholder as set forth in such section.
<PAGE>   48
                                      -45-

                  SECTION 7.14. ERISA Matters. The Company agrees to give
Sponsor the rights set forth in Sections 4.07 and 4.08 to the extent Sponsor
does not have the ability to designate a Person to the Board of Directors of the
Company and failure to have the rights set forth in Section 4.07 or 4.08 would
cause Sponsor to have an ERISA Problem. For purposes of this Section 7.14,
"ERISA Problem" means that the assets of Sponsor and its Affiliates would be
considered "Plan Assets" within the meaning of 29 CFR 2510.3-101 due to the fact
that Sponsor and its Affiliates do not have the rights specified in Section 4.07
or 4.08.

                  SECTION 7.15. Regulatory Cooperation. If any Shareholder
reasonably determines that, by reason of any existing or future federal or state
rule, regulation, guideline, order, request or directive (whether or not having
the force of law and whether or not failure to comply therewith would be
unlawful) (collectively, a "Regulatory Requirement"), it is effectively
restricted or prohibited from holding any of the shares of Common Stock
(including any shares of Capital Stock or other securities distributable in any
merger, reorganization, readjustment or other reclassification of such shares),
the Company and the other Shareholders shall take such action as may be
reasonably necessary to permit such Shareholder to comply with such Regulatory
Requirement; provided, that no such action pursuant to this Section 7.15 shall
adversely affect the Company, the rights of the other Shareholders hereunder or
the rights, preferences, qualifications and limitations of any Capital Stock of
the Company held by the other Shareholders; provided, further that neither the
Company nor any Shareholder shall be required to purchase any of such shares of
Common Stock as a result of such Regulatory Requirement. Such reasonable action
to be taken may include the Company's authorization of one or more new classes
of non-voting common stock that is otherwise substantially identical to the
Common Stock then owned by such Shareholder and the amendment of the Company's
certificate of incorporation or any other documents or instruments executed in
connection with the shares held by such Shareholder. Such Shareholder shall give
written notice to the Company and the other Shareholders of any such
determination and the actions necessary to comply with such Regulatory
Requirement, and the Company and such other Shareholders shall take all
reasonably necessary steps to comply with such determination as expeditiously as
possible.

                  SECTION 7.16. Publicity. None of the parties hereto shall
issue any press release or make any public disclosure regarding the transactions
contemplated hereby unless such press release or public disclosure shall be
approved by those parties mentioned in such press release or public disclosure
in advance. Notwithstanding the foregoing, each of the parties hereto may, in
documents required to be filed by it with the Commission or other regulatory
bodies, make such statements with respect to the transactions contemplated
hereby as each may be advised by counsel is legally necessary or advisable, and
may make such disclosure as it is advised by its counsel is required by law.

                  SECTION 7.17. Expenses. The Company agrees, if the
Transactions are consummated, to reimburse each Qualified Investor for all
reasonable out-of-pocket expenses
<PAGE>   49
                                      -46-

arising in connection with the Transactions promptly (including, without
limitation, and, in any event, within 30 days after any invoice or other
statement or notice), including all reasonable documented fees and expenses of
counsel to such Qualified Investor incurred in connection with this Agreement
and the transactions contemplated hereby and all reasonable out-of-pocket
expenses incurred by such Qualified Investor for so long as such Person is a
Qualified Investor in connection with the monitoring of its equity investment in
the Company.

                            [Signature Pages Follow]

<PAGE>   50

                  IN WITNESS WHEREOF, the Company and each Shareholder have
executed this Agreement as of the day and year first above written.

                                MASCOTECH, INC.

                                By:    /s/ David B. Liner
                                       ---------------------------
                                       Name:  David B. Liner
                                       Title:    Vice President

                                Notices:

                                21001 Van Born Road
                                Taylor, Michigan  48140
                                Attention: Chairman of the Board and
                                           General Counsel
                                Facsimile: (313) 792-4107

                                With a copy to:

                                Cahill Gordon & Reindel
                                80 Pine Street
                                New York, New York  10005
                                Attention: Jonathan A. Schaffzin, Esq.
                                Facsimile: (212) 269-5420
<PAGE>   51
                                MASCO CORPORATION

                                By:    John R. Leekley
                                       ---------------------------
                                       Name:  John R. Leekley
                                       Title: Senior Vice President

                                Notices:

                                21001 Van Born Road
                                Taylor, Michigan  48140
                                Attention: Chairman of the Board and
                                           General Counsel
                                Facsimile: (313) 792-4107

                                With a copy to:

                                Honigman Miller Schwartz and Cohn
                                2290 First National Building
                                Detroit, Michigan  48226
                                Attention: Alan Stuart Schwartz, Esq.
                                Facsimile: (313) 465-7575
<PAGE>   52
                                RICHARD A. MANOOGIAN

                                By:    /s/ Richard A. Manoogian
                                       ---------------------------

                                Notices:
                                Richard A. Manoogian
                                c/o Masco Corporation
                                21001 Van Born Road
                                Taylor, Michigan  48140
                                Attention: Richard A. Manoogian
                                Facsimile: (313) 792-6134

                                with a copy to:

                                Bodman Longley & Dahling LLP
                                100 Renaissance Center
                                Detroit, Michigan  48243
                                Attention: David M. Hempstead, Esq.
                                Facsimile: (313) 393-7579
<PAGE>   53
                                RICHARD AND JANE MANOOGIAN
                                    FOUNDATION

                                By:    /s/ Richard A. Manoogian
                                       ---------------------------
                                       Name:  Richard A. Manoogian
                                       Title: President

                                Notices:

                                Richard and Jane Manoogian Foundation
                                c/o Masco Corporation
                                21001 Van Born Road
                                Taylor, Michigan  48140
                                Attention: Richard A. Manoogian
                                Facsimile: (313) 792-6134

                                with a copy to:

                                Eugene A. Gargaro, Jr., Esq.
                                c/o Masco Corp.
                                21001 Van Born Road
                                Taylor, Michigan  48140
                                Facsimile: (313) 792-6289
<PAGE>   54
HEARTLAND ENTITY:

                                HEARTLAND INDUSTRIAL PARTNERS, L.P.

                                By:  Heartland Industrial Associates L.L.C.,
                                        its General Partner

                                By:    /s/ David A. Stockman
                                       ---------------------------
                                       Name:  David A. Stockman
                                       Title: Managing Member

                                Notices:

                                Heartland Industrial Partners, L.P.
                                320 Park Avenue, 33rd Floor
                                New York, New York  10022
                                Attention: David A. Stockman
                                Facsimile: (212) 981-3535

                                and

                                55 Railroad Avenue
                                Greenwich, Connecticut  06830
                                Attention: David A. Stockman
                                Facsimile: (203) 861-2722

                                With a copy to:

                                Cahill Gordon & Reindel
                                80 Pine Street
                                New York, New York  10005
                                Attention: Jonathan A. Schaffzin, Esq.
                                Facsimile: (212) 269-5420
<PAGE>   55
HEARTLAND ENTITY:

                                HEARTLAND INDUSTRIAL PARTNERS (FF), L.P.

                                By:  Heartland Industrial Associates L.L.C.,
                                        its General Partner

                                By:    /s/ David A. Stockman
                                       ---------------------------
                                       Name:  David A. Stockman
                                       Title: Managing Member

                                Notices:

                                Heartland Industrial Partners, L.P.
                                320 Park Avenue, 33rd Floor
                                New York, New York  10022
                                Attention: David A. Stockman
                                Facsimile: (212) 981-3535

                                and

                                55 Railroad Avenue
                                Greenwich, Connecticut  06830
                                Attention: David A. Stockman
                                Facsimile: (203) 861-2722

                                With a copy to:

                                Cahill Gordon & Reindel
                                80 Pine Street
                                New York, New York  10005
                                Attention: Jonathan A. Schaffzin, Esq.
                                Facsimile: (212) 269-5420
<PAGE>   56
HEARTLAND ENTITY:

                                HEARTLAND INDUSTRIAL PARTNERS (E1), L.P.

                                By:  Heartland Industrial Associates L.L.C.,
                                        its General Partner

                                By:    /s/ David A. Stockman
                                       ---------------------------
                                       Name:  David A. Stockman
                                       Title: Managing Member:

                                Notices:

                                Heartland Industrial Partners, L.P.
                                320 Park Avenue, 33rd Floor
                                New York, New York  10022
                                Attention: David A. Stockman
                                Facsimile: (212) 981-3535

                                and

                                55 Railroad Avenue
                                Greenwich, Connecticut  06830
                                Attention: David A. Stockman
                                Facsimile: (203) 861-2722

                                With a copy to:

                                Cahill Gordon & Reindel
                                80 Pine Street
                                New York, New York  10005
                                Attention: Jonathan A. Schaffzin, Esq.
                                Facsimile: (212) 269-5420
<PAGE>   57
HEARTLAND ENTITY:

                                HEARTLAND INDUSTRIAL PARTNERS (K1), L.P.

                                By:  Heartland Industrial Associates L.L.C.,
                                        its General Partner

                                By:    /s/ David A. Stockman
                                       ---------------------
                                       Name:  David A. Stockman
                                       Title: Managing Member

                                Notices:

                                Heartland Industrial Partners, L.P.
                                320 Park Avenue, 33rd Floor
                                New York, New York  10022
                                Attention: David A. Stockman
                                Facsimile: (212) 981-3535

                                and

                                55 Railroad Avenue
                                Greenwich, Connecticut  06830
                                Attention: David A. Stockman
                                Facsimile: (203) 861-2722

                                With a copy to:

                                Cahill Gordon & Reindel
                                80 Pine Street
                                New York, New York  10005
                                Attention: Jonathan A. Schaffzin, Esq.
                                Facsimile: (212) 269-5420
<PAGE>   58
HEARTLAND ENTITY:

                                HEARTLAND INDUSTRIAL PARTNERS (C1), L.P.

                                By:  Heartland Industrial Associates L.L.C.,
                                        its General Partner

                                By:    /s/ David A. Stockman
                                       ---------------------
                                       Name:  David A. Stockman
                                       Title: Managing Member:

                                Notices:

                                Heartland Industrial Partners, L.P.
                                320 Park Avenue, 33rd Floor
                                New York, New York  10022
                                Attention: David A. Stockman
                                Facsimile: (212) 981-3535

                                and

                                55 Railroad Avenue
                                Greenwich, Connecticut  06830
                                Attention: David A. Stockman
                                Facsimile: (203) 861-2722

                                With a copy to:

                                Cahill Gordon & Reindel
                                80 Pine Street
                                New York, New York  10005
                                Attention: Jonathan A. Schaffzin, Esq.
                                Facsimile: (212) 269-5420
<PAGE>   59
                                LONG POINT CAPITAL PARTNERS, L.L.C.

                                By:    /s/ Ira Starr
                                       ---------------------------
                                       Name:  Ira Starr
                                       Title: Managing Director

                                Notices:

                                767 Fifth Avenue
                                New York, New York  10153
                                Attention: Ira Starr
                                Facsimile: (212) 593-1888

                                With a copy to:
                                Proskauer Rose LLP
                                1585 Broadway
                                New York, NY  10036-8299
                                Attention: Peter Samuels, Esq.
                                Facsimile: (212) 969-2900
<PAGE>   60
                                CRM 1999  ENTERPRISE FUND, LLC

                                By:    /s/ Jay Abramson
                                       ----------------------------------
                                       Name:  Jay Abramson
                                       Title: Exec. VP of Managing Member

                                Notices:

                                520 Madison Avenue
                                32nd Floor
                                New York, NY  10022
                                Attention: Edward Azimi
                                Facsimile: (212) 371-3562
<PAGE>   61
HIP CO-INVESTOR:

                                KLEINWORT BENSON HOLDINGS, INC.

                                By:    /s/ Iain Leigh
                                       ----------------------------------
                                       Name:  Iain Leigh
                                       Title: Authorized Person

                                By:    /s/ John Walker
                                       ----------------------------------
                                       Name:  John Walker
                                       Title: Authorized Person

                                Notices:

                                75 Wall Street
                                34th Floor
                                New York, NY  10005
                                Attention: Alexander P. Coleman
                                           Adam Lichtenstein
                                Facsimile: (212) 429-3139

                                With a copy to

                                Kirkland & Ellis
                                153 East 53rd Street
                                39th Floor
                                New York, NY  10022
                                Attention: Eunu Chun
                                Facsimile: (212) 446-4900
<PAGE>   62
HIP CO-INVESTOR:

                                75 WALL STREET ASSOCIATES, LLC

                                By:  Kleinwort Benson (USA), Inc.
                                Its:  Attorney-in-Fact

                                By:    /s/ Iain Leigh
                                       ----------------------------------
                                       Name:  Iain Leigh
                                       Title: Authorized Person

                                By:    /s/ John Walker
                                       ----------------------------------
                                       Name:  John Walker
                                       Title: Authorized Person

                                Notices:

                                75 Wall Street
                                34th Floor
                                New York, NY  10005
                                Attention: Alexander P. Coleman
                                           Adam Lichtenstein
                                Facsimile: (212) 429-3139

                                With a copy to

                                Kirkland & Ellis
                                153 East 53rd Street
                                39th Floor
                                New York, NY  10022
                                Attention: Eunu Chun
                                Facsimile: (212) 446-4900
<PAGE>   63
HIP CO-INVESTOR:

                                METROPOLITAN LIFE INSURANCE
                                   COMPANY

                                By:    /s/ James A. Wiviott
                                       ----------------------------------
                                       Name:  James A. Wiviott
                                       Title: Director

                                Notices:

                                Metropolitan Life Insurance Company
                                Corporate Equities
                                334 Madison Avenue
                                Convent Station, NJ  07961
                                Attention: Susan M. Garret
                                Facsimile: (973) 254-3055

                                With a copy to:

                                Metropolitan Life Insurance Company
                                One Madison Avenue
                                New York, NY  10010
                                Attention: Todd S. Shenkin, Esq. (Law, Area 6H)
                                Facsimile: (212) 251-1673

                                and

                                Metropolitan Life Insurance Company
                                4100 Boy Scout Boulevard
                                Tampa, FL  33607
                                Attention: Desiree DiSalvo - Securities
                                           Accounting
                                Facsimile: (813) 801-2506
<PAGE>   64
HIP CO-INVESTOR:

                                FIRST UNION CAPITAL PARTNERS, LLC

                                By:    /s/ A. Wellford Tabor
                                       ----------------------------------
                                       Name:  A. Wellford Tabor
                                       Title: Principal

                                Notices:

                                First Union Capital Partners
                                One First Union Center, 12th Floor
                                301 South College Street
                                Charlotte, NC  28288-0732
                                Attention: A. Wellford Tabor
                                Facsimile: (704) 374-6711

                                With a copy to:

                                Kennedy Covington Lobdell & Hickman, L.L.P.
                                100 North Tryon Street, Suite 4200
                                Charlotte, NC  28202-4006
                                Attention: Kevin P. Stichter
                                Facsimile: (704) 331-7598
<PAGE>   65
HIP CO-INVESTOR:

                                GE CAPITAL EQUITY INVESTMENTS, INC.

                                By:    /s/ William R. Kraus
                                       ----------------------------------
                                       Name:  William R. Kraus
                                       Title: SVP

                                Notices:

                                GE Capital Equity Investments, Inc.
                                120 Long Ridge Road
                                Stamford, CT  06927
                                Attention: Barbara J. Gould, Esq.
                                Facsimile: (203) 357-3047
                                Attention: William R. Kraus
                                Facsimile: (203) 357-6426

                                With a copy to:

                                Winston & Strawn
                                200 Park Avenue
                                New York, NY  10166
                                Attention: David B. Hertzog, Esq.
                                Facsimile: (212) 294-4700
<PAGE>   66
HIP CO-INVESTOR:

                                CREDIT SUISSE FIRST BOSTON
                                   U.S. EXECUTIVE ADVISORS, L.P.

                                By:    /s/ Hartley R. Rogers
                                       ----------------------------------
                                       Name:  Hartley R. Rogers
                                       Title: Attorney-in-Fact

                                Notices:

                                Credit Suisse First Boston
                                U.S. Executive Advisors, L.P.
                                c/o Credit Suisse First Boston Advisory
                                Partners, LLC
                                Eleven Madison Avenue
                                New York, New York  10010
                                Attention: Hartley R. Rogers
                                Facsimile: (212) 325-2291

                                With a copy to:

                                Skadden, Arps, Slate, Meagher & Flom LLP
                                Four Times Square
                                New York, New York  10036
                                Attention: Eileen T. Nugent
                                Facsimile: (212) 735-2000
<PAGE>   67
HIP CO-INVESTOR:

                                CREDIT SUISSE FIRST BOSTON EQUITY
                                   PARTNERS (BERMUDA), L.P.

                                By:    /s/ Hartley R. Rogers
                                       ----------------------------------
                                       Name:  Hartley R. Rogers
                                       Title: Attorney-in-Fact

                                Notices:

                                Credit Suisse First Boston Equity Partners
                                (Bermuda), L.P.
                                c/o Credit Suisse First Boston Advisory
                                Partners, LLC
                                Eleven Madison Avenue
                                New York, New York  10010
                                Attention: Hartley R. Rogers
                                Facsimile: (212) 325-2291

                                With a copy to:

                                Skadden, Arps, Slate, Meagher & Flom LLP
                                Four Times Square
                                New York, New York  10036
                                Attention: Eileen T. Nugent
                                Facsimile: (212) 735-2000
<PAGE>   68
HIP CO-INVESTOR:

                                CREDIT SUISSE FIRST BOSTON
                                   EQUITY PARTNERS, L.P.

                                By:    /s/ Hartley R. Rogers
                                       ----------------------------------
                                       Name:  Hartley R. Rogers
                                       Title: Attorney-in-Fact

                                Notices:

                                Credit Suisse First Boston Equity Partners, L.P.
                                c/o Credit Suisse First Boston Advisory
                                Partners, LLC
                                Eleven Madison Avenue
                                New York, New York  10010
                                Attention: Hartley R. Rogers
                                Facsimile: (212) 325-2291

                                With a copy to:

                                Skadden, Arps, Slate, Meagher & Flom LLP
                                Four Times Square
                                New York, New York  10036
                                Attention: Eileen T. Nugent
                                Facsimile: (212) 735-2000
<PAGE>   69
HIP CO-INVESTOR:

                                EMA PARTNERS FUND 2000, L.P.

                                By:    /s/ Hartley R. Rogers
                                       ----------------------------------
                                       Name:  Hartley R. Rogers
                                       Title: Attorney-in-Fact

                                Notices:

                                EMA Partners Fund 2000, L.P.
                                c/o Credit Suisse First Boston Advisory
                                Partners, LLC
                                Eleven Madison Avenue
                                New York, New York  10010
                                Attention: Hartley R. Rogers
                                Facsimile: (212) 325-2291

                                With a copy to:

                                Skadden, Arps, Slate, Meagher & Flom LLP
                                Four Times Square
                                New York, New York  10036
                                Attention: Eileen T. Nugent
                                Facsimile: (212) 735-2000
<PAGE>   70
                                EMA PRIVATE EQUITY FUND 2000, L.P.

                                By:    /s/ Hartley R. Rogers
                                       ----------------------------------
                                       Name:  Hartley R. Rogers
                                       Title: Attorney-in-Fact

                                EMA Private Equity Fund 2000, L.P.
                                c/o Credit Suisse First Boston Advisory
                                Partners, LLC
                                Eleven Madison Avenue
                                New York, New York  10010
                                Attention: Hartley R. Rogers
                                Facsimile: (212) 325-2291

                                With a copy to:

                                Skadden, Arps, Slate, Meagher & Flom LLP
                                Four Times Square
                                New York, New York  10036
                                Attention: Eileen T. Nugent
                                Facsimile: (212) 735-2000
<PAGE>   71
                                MERCHANT CAPITAL, INC.

                                By:    /s/ Edward Nadel
                                       ----------------------------------
                                       Name:  Edward Nadel
                                       Title: Vice President

                                Merchant Capital, Inc.
                                Eleven Madison Avenue
                                New York, New York  10010
                                Attention: Edward Nadel
                                Facsimile: (212) 325-1659
<PAGE>   72
HIP CO-INVESTOR:

                                BANCBOSTON CAPITAL INC.

                                By:    /s/ Mark H. DeBlois
                                       ----------------------------------
                                       Name:  Mark H. DeBlois
                                       Title: Managing Director

                                Notices:

                                BancBoston Capital Inc.
                                175 Federal Street, 10th Floor
                                Boston, MA  02210
                                Attention: Daniel C. Reese
                                Facsimile: (617) 434-1153

                                With a copy to:

                                Bingham Dana LLP
                                150 Federal Street
                                Boston, MA  02110-1726
                                Attention: Robert M. Wolf
                                Facsimile: (617) 951-8736
<PAGE>   73
                                PRIVATE EQUITY PORTFOLIO FUND II, LLC

                                By:  Fleet Bank, NA, its Manager

                                By:    /s/ Glen Holland
                                       ----------------------------------
                                       Name:  Glen Holland
                                       Title: Director

                                Notices:

                                BancBoston Capital Inc.
                                175 Federal Street, 10th Floor
                                Boston, MA  02210
                                Attention: Daniel C. Reese
                                Facsimile: (617) 434-1153

                                With a copy to:

                                Bingham Dana LLP
                                150 Federal Street
                                Boston, MA  02110-1726
                                Attention: Robert M. Wolf
                                Facsimile: (617) 951-8736
<PAGE>   74
                                                                       EXHIBIT A

                                JOINDER AGREEMENT

                  WHEREAS, the undersigned is acquiring simultaneously with the
execution of this Agreement common stock (the "Common Stock"), par value $1.00
per share of MascoTech, Inc. (the "Company"); and

                  WHEREAS, as a condition to the acquisition of the Common
Stock, the undersigned has agreed to join in a certain Stockholders Agreement
(the "Stockholders Agreement") dated as of November 28, 2000 among MascoTech,
Inc. and the Shareholders (as such term is defined in the Stockholders
Agreement); and

                  WHEREAS, the undersigned understands that execution of this
Agreement is a condition precedent to the acquisition of the Common Stock;

                  NOW, THEREFORE, as an inducement to both the transferor of the
Common Stock and the other Shareholders (as such term is defined in the
Stockholders Agreement), to Transfer (as such term is defined in the
Stockholders Agreement) and to allow the Transfer of the Common Stock to the
undersigned, the undersigned agrees as follows:

                  1. The undersigned hereby joins in the Stockholders Agreement
and agrees to be bound by the terms and provisions of the Stockholders Agreement
as provided by the Stockholders Agreement.

                  2. The undersigned hereby consents that the certificate or
certificates to be issued to the undersigned representing the Common Stock shall
be legended as follows:

         "THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE OFFERED OR
         SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER
         THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR (ii) AN
         APPLICABLE EXEMPTION FROM REGISTRATION THEREUNDER. ANY SALE PURSUANT TO
         CLAUSE (ii) OF THE PRECEDING SENTENCE MUST BE ACCOMPANIED BY AN OPINION
         OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY TO THE EFFECT THAT
         SUCH EXEMPTION FROM REGISTRATION IS AVAILABLE IN CONNECTION WITH SUCH
         SALE.

         THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE ALSO SUBJECT TO THE
         TERMS AND CONDITIONS, INCLUDING WITH RESPECT TO THE DIRECT OR INDIRECT
         TRANSFER THEREOF, OF A SHAREHOLDERS AGREEMENT DATED AS OF NOVEMBER 28,
         2000. THE SHAREHOLDERS AGREEMENT CONTAINS, AMONG OTHER
<PAGE>   75
                                      -2-

         THINGS, SIGNIFICANT RESTRICTIONS ON TRANSFER OF THE SECURITIES OF THE
         COMPANY. A COPY OF THE SHAREHOLDERS AGREEMENT IS AVAILABLE UPON REQUEST
         FROM THE COMPANY."

                  IN WITNESS WHEREOF, the undersigned has executed this
Agreement this ____ day of _______________, 20__.

                                            ___________________________________
                                            Name:
                                            Title:
                                            Address:
<PAGE>   76
                                                                       EXHIBIT B

                             Representatives of CSFB

Hartley R. Rogers                          Phone: (212) 325-4618
                                           Fax: (212) 325-2291

Jay Finney                                 Phone: (212) 325-4622
                                           Fax: (212) 325-5553

Lee Wright                                 Phone: (212) 325-2762
                                           Fax: (212) 325-5553
<PAGE>   77
                                  SCHEDULE 2.04

<TABLE>
<CAPTION>
                               SHAREHOLDER                            COMMON SHARES
<S>                                                                   <C>
Heartland Entities                                                      12,261,251

Richard Manoogian                                                          621,170(a)

Richard and Jane Manoogian Foundation                                      661,260

Masco Corporation                                                        2,492,248

Kleinwort Benson Holdings, Inc.                                            591,716

75 Wall Street Associates LLC                                              295,858

Metropolitan Life Insurance Company                                        591,716

First Union Capital Partners LLC                                         1,479,290

GE Capital Equity Investments Inc.                                         591,716

Credit Suisse First Boston Equity Partners, L.P.                         6,247,530

Credit Suisse First Boston Equity Partners (Bermuda), L.P.               1,746,345

Credit Suisse First Boston U.S. Executive Advisors, L.P.                     5,558

EMA Partners Fund 2000, L.P.                                               533,168

EMA Private Equity Fund 2000, L.P.                                         343,139

Merchant Capital, Inc.                                                     177,515

BancBoston Capital Inc.                                                    769,231

Private Equity Portfolio Fund II, LLC                                      118,343
</TABLE>

--------------------------
(a)      Exclusive of 49,215 shares of restricted stock that will vest on the
         closing date of the Transactions (assuming no cash elections) and
         147,645 shares of unvested restricted stock.

<PAGE>   78
                                     - 2 -

<TABLE>
<CAPTION>
                               SHAREHOLDER                            COMMON SHARES
<S>                                                                   <C>
Long Point Capital Fund L.P.                                               581,025

Long Point Capital Partners LLC                                             10,692

CRM 1999 Enterprise Fund, LLC                                               59,172
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00022-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00022-of-00352.parquet"}]]