Document:

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                                                                 Exhibit 10.14

                          MASTER SEPARATION AGREEMENT

         This MASTER SEPARATION AGREEMENT (this "Agreement") is made and entered
into as of May 28, 2000 by and between Methode Electronics, Inc., a Delaware
corporation ("Methode") and Stratos Lightwave, Inc., a Delaware corporation
("Stratos"). Capitalized terms used and not otherwise defined herein are defined
in Article 1 of this Agreement.

                                    RECITALS:

         WHEREAS, Methode's Board of Directors has determined that it would be
in the best interests of Methode and its stockholders to completely separate the
Opto Business from Methode;

         WHEREAS, Methode has caused Stratos to be incorporated in order to
effect such separation and Methode currently owns all of the issued and
outstanding common stock of Stratos;

         WHEREAS, the Boards of Directors of Methode and Stratos have each
determined that it would be appropriate and desirable for Methode to contribute
and transfer to Stratos, and for Stratos to receive and assume, directly or
indirectly, all of the capital stock and equity interests currently held by
Methode in subsidiaries and other entities that conduct the Opto Business, and
all other assets and liabilities currently associated with such business, in
exchange for shares of Stratos Common Stock;

         WHEREAS, Methode and Stratos intend, for U.S. federal income tax
purposes, that such contribution of assets and assumption of liabilities will
qualify either as a tax-free reorganization under Section 368(a)(1)(D) of the
Code or will be a tax-free transfer of assets under Section 351(a) of the Code;

         WHEREAS, Methode and Stratos currently contemplate that, following such
contribution and transfer, Stratos will make an initial public offering of an
amount of Stratos' Common Stock that will reduce Methode's ownership of Stratos,
but not below 80%;

         WHEREAS, Methode currently contemplates that, following such initial
public offering, Methode will distribute to the holders of its stock by means of
a pro rata distribution all of the shares of Stratos Common Stock owned by
Methode (the "Distribution");

         WHEREAS, Methode and Stratos intend, for U.S. federal income tax
purposes, that the Distribution will be tax-free to Methode and its stockholders
(other than with respect to cash received in lieu of fractional shares) under
Sections 355 and 361 of the Code; and

         WHEREAS, the parties intend in this Agreement to set forth the
arrangements between them regarding the separation of the Opto Business.

         NOW, THEREFORE, in consideration of the foregoing, and the mutual
covenants and agreements set forth below, the parties hereto agree as follows:

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                                    ARTICLE 1
                                   DEFINITIONS

         For purposes of this Agreement, the following terms shall have the
meanings ascribed to them below:

         "AFFILIATE" of a Person means any Person Controlling, Controlled by, or
under common Control with that Person; PROVIDED, HOWEVER, that for purposes of
this Agreement (i) Methode and its Subsidiaries (other than Stratos and its
Subsidiaries) shall not be considered Affiliates of Stratos, and (ii) Stratos
and its Subsidiaries shall not be considered Affiliates of Methode.

         "ANCILLARY AGREEMENTS" means the Assignment Agreement, the IPO and
Distribution Agreement, the Tax Sharing Agreement, the Master Transitional
Services Agreement, the Employee Matters Agreement, and the Registration Rights
Agreement.

         "ASSIGNMENT AGREEMENT" means the General Assignment and Assumption
Agreement dated as of May 27, 2000, by and between Methode and Stratos
Lightwave, LLC, a Delaware limited liability company.

         "ASSUMED LIABILITIES" has the meaning set forth in the Assignment
Agreement.

         "BUSINESS DAY" means a day other than a Saturday, a Sunday or a day on
which banking institutions located in the State of Illinois are authorized or
obligated by law or executive order to close.

         "CODE" means the Internal Revenue Code of 1986, as amended from time to
time, together with the rules and regulations promulgated thereunder.

         "CONTRIBUTION DATE" means May 28, 2000, effective as of 12:01 a.m.,
Central Daylight Savings Time.

         "CONTROL" means the possession, direct or indirect, of the power to
direct or cause the direction of the management or the policies of a Person,
whether through the ownership of voting securities, by contract or otherwise.
"Controlling" and "Controlled" have the corollary meanings ascribed thereto.

         "DISPUTES" has the meaning set forth in Section 10.1.

         "DISTRIBUTION" has the meaning set forth in the recitals to this
Agreement.

         "DISTRIBUTION DATE" means the date to be determined by Methode in its
sole and absolute discretion when the Distribution is completed.

         "EFFECTIVE DATE" has the meaning set forth in the Assignment Agreement.

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         "EMPLOYEE MATTERS AGREEMENT" means the Employee Matters Agreement dated
as of May 28, 2000, by and between Methode and Stratos.

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

         "EXCLUDED ASSETS" has the meaning set forth in the Assignment
Agreement.

         "EXCLUDED LIABILITIES" has the meaning set forth in the Assignment
Agreement.

         "GOVERNMENT AUTHORITY means any federal, state, local, foreign or
international court, government, department, commission, board, bureau, agency,
official or other regulatory, administrative or governmental authority.

         "INFORMATION" means all books and records, files, contracts,
instruments, computer and other data and other similar information.

         "INDEMNIFYING PARTY" has the meaning set forth in Section 5.2(a).

         "INDEMNITEE" has the meaning set forth in Section 5.2(a).

         "INSURANCE TRANSITION PERIOD" has the meaning set forth in Section
8.1(a).

         "IPO AND DISTRIBUTION AGREEMENT" means the Initial Public Offering and
Distribution Agreement to be entered into between Methode and Stratos on or
before the IPO Effective Date.

         "IPO EFFECTIVE DATE" means the date on which the IPO Registration
Statement is declared effective by the SEC.

         "IPO REGISTRATION STATEMENT" means the registration statement on Form
S-1, Registration No. 333-34864, filed by Stratos with the SEC in connection
with the initial public offering of Stratos Common Stock, as it may be amended.

         "LIABILITIES" means all debts, liabilities, guarantees, assurances,
commitments and obligations whatsoever, whether fixed, contingent or absolute,
asserted or unasserted, matured or unmatured, liquidated or unliquidated,
accrued or not accrued, known or unknown, whether at law or in equity (including
any right of contribution), and whether arising under any contract or agreement,
by operation of law or otherwise.

         "LOCAL COUNSEL" has the meaning set forth in Section 5.2(b).

         "METHODE INDEMNITEES" has the meaning set forth in Section 5.1(a).

         "MASTER TRANSITIONAL SERVICES AGREEMENT" means the Master Transitional
Services Agreement dated as of May 28, 2000, by and between Methode and Stratos.

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         "OPTO ASSETS" has the meaning set forth in the Assignment Agreement.

         "OPTO BUSINESS" means the optical subsystems and components businesses
conducted by Methode and/or the Opto Subsidiaries at any time on or before the
Contribution Date, either directly or indirectly, including, without limitation,
(i) all business operations whose financial performance is reflected in the
Stratos Financial Statements, and (ii) all business operations relating to such
businesses initiated or acquired by Methode after the date of the Stratos
Financial Statements.

         "OPTO SUBSIDIARIES" means (i) Bandwidth Semiconductor, LLC, a Delaware
limited liability company; (ii) Methode Communication Modules, Inc., a Delaware
corporation; (iii) MP Optical Communications, LLC, an Illinois limited liability
company; (iv) Stratos, Limited, a corporation organized under the laws of the
United Kingdom; and (v) Stratos Lightwave, LLC, a Delaware limited liability
company.

         "PERSON" means an individual, partnership, limited liability company,
joint venture, corporation, trust, unincorporated association, any other entity,
or any government or any department or agency or other unit thereof.

         "POSSESSOR" has the meaning set forth in Section 6.1.

         "PRIMARY COUNSEL" has the meaning set forth in Section 5.2(b).

         "PRIOR RELATIONSHIP" means the ownership relationship between Methode
and Stratos at any time prior to the Contribution Date.

         "REGISTRATION RIGHTS AGREEMENT" means the Registration Rights Agreement
to be entered into between Methode and Stratos on or before the IPO Effective
Date.

         "RELATED PARTIES" has the meaning set forth in Section 6.1.

         "REPRESENTATIVES" means directors, officers, employees, agents,
consultants, advisors, accountants, attorneys and representatives.

         "REQUESTOR" has the meaning set forth in Section 6.1.

         "RETAINED DISREGARDED ENTITY" means any entity that (i) is disregarded
as an entity separate from its owner for U.S. federal income tax purposes, (ii)
the interests in which are owned by Methode, and (iii) the interests in which
will not be transferred to Stratos pursuant to this Agreement.

         "RETENTION PERIOD" has the meaning set forth in Section 6.2(a).

         "SEC" means the Securities and Exchange Commission.

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         "SEPARATE COUNSEL" has the meaning set forth in Section 5.2(b).

         "SPECIAL PATENT COUNSEL" has the meaning set forth in Section 5.2(b).

         "STRATOS COMMON STOCK" means the common stock, $.01 par value per
share, of Stratos.

         "STRATOS COVERED PARTIES" has the meaning set forth in Section 8.1(a).

         "STRATOS FINANCIAL STATEMENTS" means the financial statements
(including the related notes) of Stratos for the period ended April 30, 2000, as
set forth in the IPO Registration Statement.

         "STRATOS INDEMNITEES" has the meaning set forth in Section 5.1(b).

         "STRATOS LIGHTWAVE LLC" means Stratos Lightwave, LLC, a Delaware
limited liability company.

         "SUBSIDIARY" means with respect to any specified Person, any
corporation or other legal entity of which such Person or any of its
Subsidiaries Controls or owns, directly or indirectly, more than fifty percent
(50%) of the stock or other equity interest entitled to vote with respect to the
election of members to the board of directors or similar governing body;
PROVIDED, HOWEVER, that for the purposes of this Agreement, neither Stratos nor
any of the Subsidiaries of Stratos shall be deemed to be Subsidiaries of Methode
or of any of the Subsidiaries of Methode.

         "TAX" or "TAXES" have the meaning set forth in the Tax Sharing
Agreement.

         "TAX SHARING AGREEMENT" means the Tax Sharing and Indemnification
Agreement to be entered into by and between Methode and Stratos on or before the
IPO Effective Date.

         "THIRD-PARTY CLAIM" means any claim, suit, arbitration, inquiry,
proceeding or investigation by or before any court, governmental or other
regulatory or administrative agency or commission, or any arbitration tribunal
asserted by a Person other than the parties hereto or their respective
Affiliates that gives rise to a right of indemnification hereunder.

         "TRANSFERRED DISREGARDED ENTITY" means any entity that (i) is
disregarded as an entity separate from its owner for U.S. federal income tax
purposes, (ii) all of the interests in which are owned by Methode, and (iii) all
of the interests in which will be transferred to Stratos pursuant to this
Agreement.

         "TREASURY REGULATIONS" means the regulations promulgated under the
Code, and any successor provisions thereof, as in effect for the relevant
taxable period.

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                                    ARTICLE 2
                                   SEPARATION

         2.1. SEPARATION OF OPTO BUSINESS.

         (a)  CONTRIBUTION AND TRANSFER OF OPTO SUBSIDIARIES. As of the
Contribution Date, Methode hereby contributes and transfers to Stratos, in
exchange for 54,028,807 shares of Stratos Common Stock, all of its right, title
and interest in and to the following:

              (i)    100% of the membership interests in Bandwidth
                     Semiconductor, LLC, a Delaware limited liability company;

              (ii)   100% of the issued and outstanding capital stock of Methode
                     Communication Modules, Inc., a Delaware corporation;

              (iii)  its sixty percent (60%) membership interest in MP Optical
                     Communications LLC, an Illinois limited liability company;
                     and

              (iv)   100% of the issued and outstanding capital stock of Stratos
                     Limited, a corporation organized under the laws of the
                     United Kingdom; and

              (v)    100% of the membership interests in Stratos Lightwave, LLC.

         (b)  CONTRIBUTION AND TRANSFER OF OTHER OPTO ASSETS. As of the
Contribution Date, Methode hereby contributes and transfers to Stratos all of
its right, title and interest in and to all other assets owned by Methode or its
Subsidiaries which are used primarily in, relate primarily to, or arise directly
from the Opto Business, other than the Excluded Assets.

         (c)  TREATMENT OF CERTAIN LIABILITIES.

              (i) Prior to the Contribution Date, Methode shall cancel, or
cause to be cancelled, any intercompany account owing from any Transferred
Disregarded Entity to Methode or to any Retained Disregarded Entity. As a result
of such cancellation, Stratos shall not assume pursuant to the transactions
contemplated hereunder any liability for any intercompany account of the type
described in the immediately preceding sentence. In addition, prior to the
Contribution Date, each Transferred Disregarded Entity shall cancel, or cause to
be cancelled, any intercompany account owing from Methode or any Retained
Disregarded Entity to such Transferred Disregarded Entity.

              (ii) Any liabilities reflected on the books and records of
Methode between Methode and any unincorporated branch or division of Methode or
between two unincorporated branches or divisions of Methode shall not be treated
as liabilities. No new or additional liabilities of the type described in the
immediately preceding sentence will be created or reflected on the books and
records of Methode during any period (or portion thereof) beginning on or after
the Effective Date and ending on or before the execution of this Agreement.
Accordingly,

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Stratos shall not assume pursuant to the transactions contemplated hereunder any
liability of the type described in the first sentence of this section
2.1(c)(ii).

         (d)  INSTRUMENTS OF CONVEYANCE AND TRANSFER. As of the Contribution
Date, Methode shall deliver or cause to be delivered to Stratos such stock
certificates (accompanied by duly executed assignment documents), assignments,
bills of sale, deeds, and other good and sufficient instruments of conveyance,
all in recordable form, where applicable, as are required under local custom and
practice to vest in Stratos all right, title and interest of Methode in and to
the capital stock and equity interests and other assets described in Section
2.1(a) and (b) above.

         2.2  FURTHER ASSURANCES. From time to time after the Contribution Date,
Methode and any Methode Affiliate shall execute, acknowledge and deliver, or
cause to be executed, acknowledged and delivered, such other instruments of
conveyance, assignment, transfer and delivery and will take or cause to be taken
such other actions as Stratos may reasonably request in order more effectively
to assign, convey, transfer, and deliver to Stratos the capital stock and equity
interests and other assets described in Section 2.1(a) and (b) above, or to
enable Stratos to protect, exercise and enjoy all of Methode's rights and
benefits with respect thereto, and as otherwise may be appropriate to carry out
the transactions contemplated hereby.

         2.3. TRANSFER COSTS. Stratos shall bear all of the costs of the
transfer of the capital stock and equity interests and other assets described in
Section 2.1(a) and (b) above from Methode to Stratos.

                                    ARTICLE 3
                              ANCILLARY AGREEMENTS

         3.1  GENERAL. Methode and Stratos acknowledge and agree that the
Ancillary Agreements have been or will be entered into prior to the IPO
Effective Date. Methode and Stratos shall take all steps reasonably necessary to
cause their respective Subsidiaries and Affiliates to enter into and perform
such Ancillary Agreements in accordance with their terms.

         3.2  PRIORITY. To the extent that any Ancillary Agreement conflicts
with the terms of this Agreement, including, without limitation, matters
covered by Article 2, Article 5 and Article 6 (solely with respect to matters
relating to Taxes) hereof, the terms and conditions of such Ancillary
Agreement shall govern the rights and obligations of the parties with respect
to such matters. Without limiting the foregoing, the rights and obligations
of the parties with respect to the payment of Taxes and related matters shall
be governed by the relevant terms and provisions of the Tax Sharing Agreement.

                                    ARTICLE 4
                                    COVENANTS

         4.1. IPO AND DISTRIBUTION AGREEMENT. Methode and Stratos hereby agree
to execute and deliver, on or before the IPO Effective Date, the IPO and
Distribution Agreement, in

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substantially the form agreed upon between the parties on or prior to the date
hereof, with such modifications to such form as the parties shall mutually deem
reasonably necessary and desirable.

         4.2. REGISTRATION RIGHTS AGREEMENT. Methode and Stratos hereby agree to
execute and deliver, on or before the IPO Effective Date, the Registration
Rights Agreement, in substantially the form agreed upon between the parties on
or prior to the date hereof, with such modifications to such form as the parties
shall mutually deem reasonably necessary and desirable.

         4.3. NO TAX ELECTION. None of Methode or any of its Affiliates
(including, without limitation, prior to the transactions contemplated hereby,
Stratos Lightwave LLC), Stratos or any of its Affiliates (including, without
limitation, subsequent to the transactions contemplated hereby, Stratos
Lightwave, LLC) or any of their respective Representatives shall make any
election under Treasury Regulations promulgated under Section 7701 of the Code
(or any successor regulation or provision), or otherwise take any action, or
fail to take any action, that could cause Stratos Lightwave LLC not to be
disregarded as an entity separate from its owner for U.S. federal income tax
purposes.

                                    ARTICLE 5
                                 INDEMNIFICATION

         5.1. INDEMNIFICATION.

         (a)  Stratos shall indemnify, defend and hold harmless Methode and each
of its Subsidiaries, and each of their respective past and present
Representatives (the "Methode Indemnitees") against any and all actions, claims,
damages, losses, or liabilities, resulting from, relating to or arising, whether
prior to or following the Contribution Date, out of or in connection with: (i)
the Assumed Liabilities, and/or (ii) the operation of the Opto Business, and
Stratos shall reimburse each Methode Indemnitee for any and all reasonable costs
and expenses (including attorneys' fees) incurred by any of them in connection
with investigating and/or defending any such action, claim, damage, loss, or
liability, other than legal fees incurred prior to the Contribution Date.

         (b)  Methode (the "Methode Indemnifying Party") shall indemnify, defend
and hold harmless Stratos and each of its Subsidiaries, and each of their past
and present Representatives (the "Stratos Indemnitees") against any and all
actions, claims, damages, losses, or liabilities resulting from, relating to or
arising, whether prior to or following the Contribution Date, out of or in
connection with: (i) the Excluded Assets and/or (ii) the Excluded Liabilities,
and Methode shall reimburse each Stratos indemnitee for any and all reasonable
costs and expenses (including attorneys' fees) incurred by any of them in
connection with investigating and/or defending any such action, claim, damage,
loss or liability, other than legal fees incurred prior to the Contribution
Date.

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         5.2. INDEMNIFICATION PROCEDURES.

         (a)  If a Methode Indemnitee or Stratos Indemnitee (collectively, an
"Indemnitee") receives notice of the assertion of any Third-Party Claim with
respect to which a Stratos Indemnifying Party or Methode Indemnifying Party,
respectively (collectively, an "Indemnifying Party") is, or is likely to be,
obligated under this Agreement to provide indemnification, such Indemnitee shall
promptly give such Indemnifying Party notice thereof (together with a copy of
such Third-Party Claim, process or other legal pleading) promptly after becoming
aware of such Third-Party Claim; PROVIDED, HOWEVER, that the failure of any
Indemnitee to give notice as provided in this Section 5.2 shall not relieve any
Indemnifying Party of its obligations under this Section 5.2, except to the
extent that such Indemnifying Party is actually prejudiced by such failure to
give notice. Such notice shall describe such Third-Party Claim in reasonable
detail.

         (b)  An Indemnifying Party, at such Indemnifying Party's own expense
and through counsel chosen by such Indemnifying Party (which counsel shall be
reasonably acceptable to the Indemnitee), may elect to defend any Third-Party
Claim. If an Indemnifying Party elects to defend a Third-Party Claim in
accordance with the foregoing, then, within ten (10) Business Days after
receiving notice of such Third-Party Claim (or sooner, if the nature of such
Third Party claim so requires), such Indemnifying Party shall notify the
Indemnitee of its intent to do so, and such Indemnitee shall cooperate in the
defense of such Third-Party Claim. Such Indemnifying Party shall pay such
Indemnitee's reasonable out-of-pocket expenses incurred in connection with
such cooperation. Such Indemnifying Party shall keep the Indemnitee
reasonably informed as to the status of the defense of such Third-Party
Claim. After notice from an Indemnifying Party to an Indemnitee of its
election to assume the defense of a Third-Party Claim, such Indemnifying
Party shall not be liable to such Indemnitee under this Section 5.2 for any
attorneys' fees or other expenses subsequently incurred by such Indemnitee in
connection with the defense thereof other than those expenses referred to in
the preceding sentence; PROVIDED, HOWEVER, that such Indemnitee shall have
the right to employ one law firm as counsel ("Primary Counsel"), together
with a local law firm in each applicable jurisdiction (collectively, "Local
Counsel") and, in the case of patent litigation, special patent counsel
("Special Patent Counsel" and together with Primary Counsel and Local
Counsel, "Separate Counsel"), to represent such Indemnitee in any action or
group of related actions (which firm or firms shall be reasonably acceptable
to the Indemnifying Party) if, in such Indemnitee's reasonable judgment at
any time, either a conflict of interest between such Indemnitee and such
Indemnifying Party exists in respect of such claim, or there may be defenses
available to such Indemnitee which are significantly different from or in
addition to those available to such Indemnifying Party and the representation
of both parties by the same counsel would, in the reasonable judgment of the
Indemnitee, be inappropriate, and in that event (i) the reasonable fees and
expenses of such Separate Counsel shall be paid by such Indemnifying Party
(it being understood, however, that the Indemnifying Party shall not be
liable for the expenses of more than one Primary Counsel, one Local Counsel
in any one jurisdiction and one Special Patent Counsel with respect to any
Third-Party Claim (even if against multiple Indemnitees)) and (ii) each of
such Indemnifying Party and such Indemnitee shall have the right to conduct
its own defense in respect of such claim. If an Indemnifying Party: (i)
elects not to defend against a Third-Party Claim; (ii) fails to notify an
Indemnitee of its election as provided in this Section 5.2 within the period
of ten (10)

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Business Days described above; or (iii) elects to defend a Third Party Claim
but, in the reasonable judgment of the Indemnitee, fails to timely, properly
and adequately defend such claim, the Indemnitee may defend, compromise, and
settle such Third-Party Claim and shall be entitled to indemnification
hereunder (to the extent permitted hereunder); PROVIDED, HOWEVER, that no
such Indemnitee may compromise or settle any such Third-Party claim without
the prior written consent of the Indemnifying Party, which consent shall not
be unreasonably withheld or delayed. Notwithstanding the foregoing, the
Indemnifying Party shall not, without the prior written consent of the
Indemnitee, (i) settle or compromise any Third-Party Claim or consent to the
entry of any judgment which does not include as an unconditional term thereof
the dismissal without prejudice of such Third Party Claim or delivery by the
claimant or plaintiff to the Indemnitee of a written release from all
liability in respect of such Third-Party Claim or (ii) settle or compromise
any Third-Party Claim in any manner that would be reasonably likely to have a
material adverse effect on the Indemnitee. Notwithstanding the above, with
respect to any Third-Party Claim or other claim that relates to Taxes, the
relevant provisions of the Tax Sharing Agreement, rather than this Section
5.2, shall govern the rights and obligations of the parties regarding
procedures for indemnification.

         5.3. CERTAIN LIMITATIONS.

         (a)  The amount of any indemnifiable losses or other liability for
which indemnification is provided under this Agreement shall be net of any
amounts actually recovered by the Indemnitee from third parties (including,
without limitation, amounts actually recovered under insurance policies) with
respect to such indemnifiable losses or other liability. Any Indemnifying
Party hereunder shall be subrogated to the rights of the Indemnitee upon
payment in full of the amount of the relevant indemnifiable loss. An insurer
who would otherwise be obligated to pay any claim shall not be relieved of
the responsibility with respect thereto or, solely by virtue of the
indemnification provision hereof, have any subrogation rights with respect
thereto. If any Indemnitee recovers an amount from a third party in respect
of an indemnifiable loss for which indemnification is provided in this
Agreement after the full amount of such indemnifiable loss has been paid by
an Indemnifying Party or after an Indemnifying Party has made a partial
payment of such indemnifiable loss and the amount received from the third
party exceeds the remaining unpaid balance of such indemnifiable loss, then
the Indemnitee shall promptly remit to the Indemnifying Party the excess (if
any) of (A) the sum of the amount theretofore paid by such Indemnifying Party
in respect of such indemnifiable loss plus the amount received from the third
party in respect thereof LESS (B) the full amount of such indemnifiable loss
or other liability. Nothing in this Section 5.3(a) shall obligate any
Indemnifying Party to seek to recover any amounts from any third party
(including, without limitation, amounts recoverable under insurance policies)
prior to, or as a condition to, seeking indemnification under this Article 5.

         (b)  The amount of any loss or other liability for which
indemnification is provided under this Agreement shall be (i) increased to
take account of any net tax cost incurred by the Indemnitee arising from the
receipt or accrual of an indemnification payment hereunder (grossed up for
such increase) and (ii) reduced to take account of any net tax benefit
realized by the Indemnitee arising from incurring or paying such loss or
other liability. In computing the

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amount of any such tax cost or tax benefit, the Indemnitee shall be deemed to
recognize all other items of income, gain, loss, deduction or credit before
recognizing any item arising from the receipt or accrual of any
indemnification payment hereunder or incurring or paying any indemnified
loss. Any indemnification payment hereunder shall initially be made without
regard to this Section 5.3(b) and shall be increased or reduced to reflect
any such net tax cost (including gross-up) or net tax benefit only after the
Indemnitee has actually realized such cost or benefit. For purposes of this
Agreement, an Indemnitee shall be deemed to have "actually realized" a net
tax cost or a net tax benefit to the extent that, and at such time as, the
amount of taxes payable by such Indemnitee is increased above or reduced
below, respectively, the amount of taxes that such Indemnitee would be
required to pay but for the receipt or accrual of the indemnification payment
or the incurrence or payment of such loss, as the case may be. The amount of
any increase or reduction hereunder shall be adjusted to reflect any final
determination with respect to the Indemnitee's liability for taxes, and
payments between such indemnified parties to reflect such adjustment shall be
made if necessary.

         (c)  Any indemnification payment made under this Agreement relating
to Assumed Liabilities, Excluded Assets and Excluded Liabilities shall be
characterized for tax purposes as if such payment were made immediately prior
to the Distribution Date, except to the extent otherwise required by
the Tax Sharing Agreement.

                                    ARTICLE 6
                     ACCESS TO INFORMATION; CONFIDENTIALITY

      6.1.    ACCESS TO INFORMATION. During the Retention Period, each of the
parties hereto shall cooperate with and afford, and shall cause their
respective Affiliates, Representatives, Subsidiaries, successors and/or
assignees, and shall use reasonable efforts to cause joint ventures that are
not Affiliates (collectively, "Related Parties") to cooperate with and
afford, to the other party reasonable access upon reasonable advance written
request to all Information (other than Information which is: (i) protected
from disclosure by the attorney client privilege or work product doctrine;
(ii) confidential in nature; or (iii) the subject of a confidentiality
agreement between such party and a third party which prohibits disclosure to
the other party) within such party's or any Related Party's possession that
was created prior to the Contribution Date or would otherwise be relevant to
the performance of this Agreement or any Ancillary Agreement. Access to the
requested information shall be provided so long as it relates to the
requesting party's (the "Requestor") business, assets or liabilities, and
access is reasonably required by the Requestor as a result of the parties'
Prior Relationship for purposes of auditing, accounting, claims or litigation
(except for claims or litigation between the parties hereto), employee
benefits, regulatory or Tax purposes or fulfilling disclosure or reporting
obligations including, without limitation, Information reasonably necessary
for the preparation of reports required by or filed under the Exchange Act
with respect to any period entirely or partially prior to the Contribution
Date.

         Access as used in this paragraph shall mean the obligation of a
party in possession of Information (the "Possessor") requested by the
Requestor to exert its reasonable efforts to locate all requested Information
that is owned and possessed by Possessor or any Related Party. The Possessor,
at its own expense, shall conduct a diligent search designed to identify all
requested

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Information and shall collect all such Information for inspection by the
Requestor during normal business hours at the Possessor's place of business.
Subject to confidentiality and/or security provisions as the Possessor may
reasonably deem necessary, the Requestor may have all requested Information
duplicated at Requestor's expense. Alternatively, the Possessor may choose to
deliver, at its own expense, all requested Information to the Requestor in
the form it was requested by the Requestor. If so, the Possessor shall notify
the Requestor in writing at the time of delivery if such Information is to be
returned to the Possessor. In such case, the Requestor shall return such
Information when no longer needed to the Possessor at the Possessor's expense.

         In connection with providing Information pursuant to this Section
6.1, each of the parties hereto shall upon the request of the other party
make available its respective employees (and those of their respective
Related Parties, as applicable) to the extent that they are reasonably
necessary to discuss and explain all requested Information with and to the
requesting party.

         6.2. RECORD RETENTION.

         (a)  BOOKS AND RECORDS. Stratos shall preserve and keep all books
and records included in the Opto Assets or otherwise in the possession of
Stratos or its Related Parties, whether in electronic form or otherwise, for
not less than ten years from the Contribution Date, or for any longer period
as may be required (i) by any government agency, or (ii) in connection with
any litigation, law, regulation, audit or appeal of Taxes, Tax examination or
the expiration of the applicable statute of limitations, where applicable
(the "Retention Period") at Stratos' sole cost and expense. If Stratos wishes
to dispose of any books and records or other documents which it is obligated
to retain under this Section 6.2 after the Retention Period, then Stratos
shall first provide ninety (90) days' written notice to Methode and Methode
shall have the right, at its option and expense, upon prior written notice
within such ninety (90) day period, to take possession of such books or
records or other documents within one hundred eighty (180) days after the
date of Stratos' notice to Methode hereunder. Written notice of intent to
dispose of such books and records shall include a description of the books
and records in detail sufficient to allow Methode to reasonably assess its
potential need to retain such materials. In the event Stratos enters into an
agreement with a third party to sell a portion of its business, together with
the books and records related thereto, Methode shall have the right, at its
cost, to duplicate such books and records prior to any such disposition and,
should the purchaser of the Stratos business be a competitor of Methode,
Methode shall have the right to prohibit the transfer or disclosure to such
party of that portion of the former books and records of Methode which
Methode notifies Stratos contain confidential and proprietary information
which relates solely to Methode's businesses (other than the Opto Business).
To the extent that books and records of Methode or any of its Affiliates that
contain information relating to the Opto Business are not included in the
Opto Assets, Methode agrees to cooperate with Stratos in providing Stratos
with any such information upon Stratos' reasonable request to the extent that
any such information exists and is reasonably separable from Methode
information unrelated to the Opto Business. Stratos shall reimburse Methode
for all of its reasonable out-of-pocket costs incurred in connection with any
such request.

                                      -12-
<PAGE>

         (b)  ACCESS TO PERSONNEL. Methode shall, from time to time, at the
reasonable request of Stratos, cooperate fully with Stratos in providing
Stratos, to the extent reasonably possible through applicable Methode
employees, with technical assistance and information in respect to any claims
brought against Stratos involving the conduct of the Opto Business prior to
the Contribution Date, including consultation and/or the appearance(s) of
such persons on a reasonable basis as expert or fact witnesses in trials or
administrative proceedings.

         6.3. PRODUCTION OF WITNESSES. Each of the parties hereto shall use
all commercially reasonable efforts, and shall cause each of their respective
Affiliates to use all commercially reasonable efforts, to make available to
each other, upon written request, its directors, officers, employees and
other Representatives as witnesses to the extent that any such Person may
reasonably be required (giving consideration to the business demands upon
such Persons) in connection with any legal, administrative or other
proceedings in which the requesting party may from time to time be involved;
PROVIDED, HOWEVER, that with respect to any legal or administrative
proceedings relating to the Tax liability of any of the parties hereto or any
of their respective Affiliates, each of the parties hereto shall, and shall
cause each of their respective Affiliates to, make their directors, officers,
employees and other Representatives available as witnesses or to provide
assistance or information relating to Taxes until such time as the statute of
limitations has expired with respect to all Tax years prior to and including
the years in which the Distribution and the transfers contemplated by this
Agreement are consummated.

         6.4. REIMBURSEMENT. Unless otherwise provided in Article 5 or this
Article 6, each party to this Agreement providing access, information or
witnesses to another party pursuant to Sections 6.1, 6.2 or 6.3 shall be
entitled to receive from the recipient, upon the presentation of invoices
therefor, payment for all reasonable out-of-pocket costs and expenses
(excluding allocated compensation, salary and overhead expense) as may be
reasonably incurred in providing such information or witnesses.

         6.5. CONFIDENTIALITY.

         (a)  Subject to Section 6.5(c) below, Methode and Stratos, on behalf
of itself and its Affiliates, each agrees to hold, and cause its respective
directors, officers, employees and other Representatives to hold, in strict
confidence, with at least the same degree of care that applies to its own
confidential and proprietary information, all Information concerning the
other party and its Affiliates that is either in its possession (including
Information in its possession prior to the Contribution Date) or furnished by
such other party or its Affiliates at any time pursuant to this Agreement,
any Ancillary Agreement or otherwise, and shall not use any such Information
other than for such purposes as shall be expressly permitted hereunder or
thereunder, except, in each case, to the extent that such Information has
been: (i) in the public domain through no fault of such party, any of its
Affiliates or any of their respective directors, officers, employees or other
Representatives, (ii) later lawfully acquired from other sources by such
party (or any of its Affiliates which sources are not themselves bound by a
confidentiality obligation), or (iii) independently generated without
reference to any proprietary or confidential Information of the other party.

                                      -13-
<PAGE>

         (b)  Each party agrees not to release or disclose, or permit to be
released or disclosed, any such Information to any other Person, except its
directors, officers, employees and other Representatives who need to know
such Information (who shall be advised of their obligations hereunder with
respect to such Information), except in compliance with this Section 6.5.
Without limiting the foregoing, when any Information is no longer needed for
the purposes contemplated by this Agreement or any Ancillary Agreement, each
party will promptly after request of the other party either return to the
other party all Information in a tangible form (including all copies thereof
and all notes, extracts or summaries based thereon) or certify to the other
party that it has destroyed such Information (and such copies thereof and
such notes, extracts or summaries based thereon).

         (c)  In the event that any party or any of its Affiliates either
determines on the advice of its counsel that it is required to disclose any
Information pursuant to applicable law or receives any demand under lawful
process or from any Governmental Authority to disclose or provide Information
of the other party (or its Affiliates) that is subject to the confidentiality
provisions hereof, such party shall notify the other party prior to
disclosing or providing such Information and shall cooperate at the expense
of the requesting party in seeking any reasonable protective arrangements
requested by such party. Subject to the foregoing, the party that received
such request may thereafter disclose or provide Information to the extent
required by such law (as so advised by counsel) or by lawful process or such
Governmental Authority.

                                    ARTICLE 7
                                 MUTUAL RELEASES

         7.1. RELEASE OF PRE-SEPARATION CLAIMS.

         (a)  STRATOS RELEASE. Except as provided in Section 7.1(c), as of
the Contribution Date, Stratos does hereby, for itself and as agent for each
of its Subsidiares, remise, release and forever discharge the Methode
Indemnitees from any and all Liabilities, existing or arising from any acts
or events occurring or failing to occur or alleged to have occurred or to
have failed to occur or any conditions existing or alleged to have existed on
or before the Contribution Date, including in connection with the
transactions and all other activities to implement any of the separation of
the Opto Business, the initial public offering by Stratos and the
Distribution.

         (b)  METHODE RELEASE. Except as provided in Section 7.1(c), as of
the Contribution Date, Methode does hereby, for itself and as agent for each
of its Subsidiaries, remise, release and forever discharge the Stratos
Indemnitees from any and all Liabilities, existing or arising from any acts
or events occurring or failing to occur or alleged to have occurred or to
have failed to occur or any conditions existing or alleged to have existed on
or before the Contribution Date, including in connection with the
transactions and all other activities to implement any of the separation of
the Opto Business, the initial public offering by Stratos and the
Distribution.

         (c)  NO IMPAIRMENT. Nothing contained in Section 7.1(a) or (b) shall
impair the rights or obligations of Methode and Stratos, as applicable, (i)
reflected on the Stratos Financial Statements, or (ii) arising under this
Agreement and/or the Ancillary Agreements.

                                      -14-
<PAGE>

         (d)  NO ACTIONS AS TO RELEASED CLAIMS. Stratos agrees, for itself
and as agent for each of its Subsidiaries, not to make any claim or demand,
or commence any action, suit or other similar proceeding asserting any claim
or demand, including any claim of contribution or any indemnification,
against Methode or any of its Subsidiaries, or any other Person released
pursuant to Section 7.1(a), with respect to any Liabilities released pursuant
to Section 7.1(a). Methode agrees, for itself and as agent for each of its
Subsidiaries, not to make any claim or demand, or commence any action, suit
or other similar proceeding asserting any claim or demand, including any
claim of contribution or any indemnification, against Stratos or any of its
Subsidiaries, or any other Person released pursuant to Section 7.1(b), with
respect to any Liabilities released pursuant to Section 7.1(b).

         (e)  FURTHER INSTRUMENTS. At any time, at the request of any other
party, each party shall, or shall cause its Subsidiaries to, execute and
deliver releases reflecting the provisions hereof.

                                    ARTICLE 8
                                INSURANCE MATTERS

         8.1  STRATOS INSURANCE COVERAGE DURING THE INSURANCE TRANSITION PERIOD.

         (a)  Throughout the period beginning on the Separation Date and
ending on the earlier of (i) the Distribution Date, (ii) the date Methode
owns less than fifty percent (50%) of the outstanding Stratos Common Stock,
or (iii) such earlier date as the parties agree (the "Insurance Transition
Period"), Methode shall, subject to insurance market conditions and other
factors beyond its control, maintain policies of insurance, including for the
benefit of Stratos and its Subsidiaries, directors, officers, employees or
other covered parties (collectively, the "Stratos Covered Parties") which are
comparable in all material respects to those maintained generally by Methode,
except as the parties otherwise agree; provided, however, that if Methode
determines that: (i) the amount or scope of such coverage will be reduced to
a level inferior in any material respect to the level of coverage in
existence immediately prior to the Insurance Transition Period, or (ii) the
retention or deductible level applicable to such coverage, if any, will be
increased to a level materially greater than the levels in existence
immediately prior to the Insurance Transition Period, Methode shall give
Stratos notice of such determination as promptly as practicable. Upon notice
of such determination, Stratos shall be entitled to no less than ninety (90)
days to evaluate its options regarding continuance of coverage hereunder and
may cancel its interest in all or any portion of such coverage as of any day
within such ninety (90) day period. Except as otherwise provided below,
during the Insurance Transition Period, such policies of insurance shall
cover Stratos Covered Parties for liabilities and losses insured prior to the
Distribution Date.

         (b)  Stratos shall promptly pay or reimburse Methode, as the case
may be, for its share of premium expenses and all applicable self-insurance
retentions, deductibles, retrospective premium adjustments and similar
amounts with respect to insurance policies in force during the Insurance
Transition Period, and Stratos Covered Parties shall promptly pay or
reimburse Methode for any costs and expenses which Methode may incur in
connection with the insurance

                                      -15-
<PAGE>

coverages maintained pursuant to this Section 8.1, including but not limited
to any subsequent premium adjustments. Stratos' share of such expenses shall
be determined in a manner consistent with the parties' allocation of such
expenses prior to the Contribution Date. All payments and reimbursements by
Stratos and Stratos Covered Parties to Methode shall be made within fifteen
(15) days after Stratos' receipt of an invoice from Methode.

         (c)  The control and administration of insurance policies which are
the subject of this Article 8, including claims against insurance policies
and any modifications to the terms and conditions of such insurance policies,
shall remain with Methode, PROVIDED that, any such action taken by Methode
shall treat fairly all insured parties and their respective claims and shall
not unduly favor one insured party over another. Stratos shall make all
reasonable efforts to facilitate Methode's control and administration of such
insurance policies.

         8.2  STRATOS INSURANCE COVERAGE AFTER THE INSURANCE TRANSITION
PERIOD. From and after expiration of the Insurance Transition Period, Stratos
shall be solely responsible for obtaining and maintaining insurance programs
for its risk of loss and such insurance arrangements shall be separate and
apart from Methode's insurance programs. Notwithstanding the foregoing, at
Stratos' request, Methode shall use all commercially reasonable efforts to
assist Stratos in the transition to its own separate insurance programs from
and after the Insurance Transition Period, and shall provide Stratos with any
information in its possession and reasonably available and necessary to
either obtain insurance coverages for Stratos or to assist Stratos in
preventing unintended self-insurance, in whatever form.

         8.3  COOPERATION. Methode and Stratos will cooperate with each other
in all respects, and they shall execute any additional documents which are
reasonably necessary or desirable to effectuate the provisions of this
Article 8.

         8.4  NO ASSIGNMENT OR WAIVER. This Agreement shall not be considered
as an attempted assignment of any policy of insurance or as a contract of
insurance and shall not be construed to waive any right or remedy of Methode
or its Affiliates in respect of any contract or policy of insurance.

         8.5  NO LIABILITY. Stratos, on behalf of itself and its Affiliates,
does hereby agree that Methode and its Affiliates shall have no liability
whatsoever as a result of the insurance policies and practices of Methode and
its Affiliates as in effect at any time prior to the Distribution Date,
including as a result of the level or scope of any such insurance, the
creditworthiness of any insurance carrier, the terms and conditions of any
policy, the adequacy or timeliness of any notice to any insurance carrier
with respect to any claim or potential claim or otherwise, other than as a
result of the gross negligence or wilfull misconduct of Methode and its
Affiliates.

         8.6  FURTHER AGREEMENTS. The parties acknowledge that they intend to
allocate financial obligations without violating any laws regarding
insurance, self-insurance or other financial responsibility. If it is
determined that any action undertake pursuant to this Agreement or any
Ancillary Agreement is violative of any insurance, self-insurance or related
financial responsibility law or regulation, the parties agree to work
together to do whatever is necessary to

                                      -16-
<PAGE>

comply with such law or regulation while trying to accomplish, as much as
possible, the allocation of financial obligations as intended in this
Agreement and any Ancillary Agreement.

                                    ARTICLE 9
                                 NON-COMPETITION

         9.1. METHODE RESTRICTIONS. For a period ending one (1) year after
the Distribution Date, neither Methode nor any of its Affiliates shall engage
in (A) the manufacture or sale of the following products or processes,
outside of its current customer list as of the contribution date: (i)
optoelectronic device connectorization, optical test and characterization of
such optical devices, (ii) custom optical device assembly and/or packaging
processes (including metalization, lensing, package hermeticity, soldering,
polishing and optical testing for one or multiple fiber configurations),
(iii) custom or specialty optical connector design, manufacture and
termination, (iv) passive optical component and circuit assembly splicing or
termination, except for hybrid copper/fiber cable assemblies, (v) multi-fibre
mechanical ribbon splice components and tooling, and/or (vi) optoelectronic
subsystems, or (B) the manufacture of standard fiber optic connector products
and/or accessories; anywhere in the World.

         9.2. STRATOS RESTRICTIONS. For a period ending one (1) year after
the Distribution Date, neither Stratos nor any of its Affiliates shall engage
in (A) the manufacture or sale of the following products, outside its current
customer list as of the contribution date, in Europe (including the United
Kingdom): (i) standard cable assemblies terminated with standard fiber optic
connectors, and/or (ii) cable management cabinets and value-added cable
assemblies for local area networks, data centre, telecom and other project
installation driven applications, (B) the manufacture or sale of electronic
interconnect devices anywhere in the World, and/or (C) the sale of standard
cable assembly or cable management cabinets in combination with system
integration or system installation services to end-user clients in the United
States and Europe.

         9.3. INJUNCTIVE RELIEF. Each party acknowledges that the
restrictions contained in this Article 9 are reasonable and necessary to
protect the legitimate interests of the other party, do not cause it undue
hardship, and that any violations of any provision of this Article 9 will
result in irreparable injury to the other party and that, therefore, each
party shall be entitled to preliminary and permanent injunctive relief in any
court of competent jurisdiction and to an equitable accounting of all
earnings, profits and other benefits arising from such violation, which
rights shall be cumulative and in addition to any other rights or remedies to
which such party may be entitled. In the event that any court having
jurisdiction shall determine that the foregoing restrictive covenant or other
provisions shall be unreasonable or unenforceable in any respect, then such
covenant and other provisions shall be deemed limited to the extent that such
court deems it reasonable and enforceable, and as so limited shall remain in
full force and effect.

                                   ARTICLE 10
                                  MISCELLANEOUS

         10.1. DISPUTE RESOLUTION. Except as otherwise set forth in the
Ancillary Agreements, resolution of any and all disputes arising from or in
connection with this Agreement, whether

                                      -17-
<PAGE>

based on contract, tort, or otherwise (collectively, "Disputes"), shall be
exclusively governed by and settled in accordance with the provisions of this
Section 10.1. The parties hereto shall use all commercially reasonable efforts
to settle all Disputes without resorting to mediation, arbitration, litigation
or other third party dispute resolution mechanisms. If any Dispute remains
unsettled, the parties hereby agree to mediate such Dispute using a mediator
reasonably acceptable to all parties involved in such Dispute. If the parties
are unable to resolve such dispute through mediation, each party will be free to
commence proceedings for the resolution thereof. No party shall be entitled to
consequential, special, exemplary or punitive damages.

         10.2. ENTIRE AGREEMENT. Except as otherwise set forth in this
Agreement, this Agreement and the Ancillary Agreements shall constitute the
entire agreement between the parties hereto with respect to the subject
matter hereof and shall supersede all prior agreements and understandings,
whether written or oral, between the parties with respect to such subject
matter.

         10.3. RELATED PARTY TRANSACTIONS. For so long as Methode
beneficially owns at least fifty percent (50%) of the outstanding shares of
Stratos Common Stock, the approval of a majority of the independent directors
of Stratos shall be required for any transaction between Methode and Stratos
with a value of $50,000 or more, PROVIDED, HOWEVER, that this provision shall
not apply to any transactions under this Agreement or any of the Ancillary
Agreements or purchases by Methode or its Subsidiaries of Stratos products in
the ordinary course of business.

         10.4. AUTHORITY. Each of the parties hereto represents to the other
that: (a) it has the corporate power and authority to execute, deliver and
perform this Agreement; (b) the execution, delivery and performance of this
Agreement by it has been duly authorized by all necessary corporate action;
(c) it has duly and validly executed and delivered this Agreement; and (d)
this Agreement is a legal, valid and binding obligation, enforceable against
it in accordance with its terms subject to applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting creditors' rights
generally and general equity principles.

         10.5. NOTICES. All notices and other communications hereunder shall
be in writing and shall be delivered in person, by telecopy, by express or
overnight mail delivered by a nationally recognized air courier (delivery
charges prepaid), or by registered or certified mail (postage prepaid, return
receipt requested) to the respective parties as follows:

<TABLE>

         <S>                 <C>
         If to Methode:      Methode Electronics, Inc.
                             7401 W. Wilson Avenue
                             Chicago, Illinois 60706
                             Attention: Chief Executive Officer

         If to Stratos:      Stratos Lightwave, Inc.
                             7444 W. Wilson Avenue
                             Chicago, Illinois 60706
                             Attention: Chief Executive Officer
                             Telecopy No.: (708) 867-3288
</TABLE>

                                      -18-
<PAGE>

or to such other address as the party to whom notice is given may have
previously furnished to the others in writing in the manner set forth above.
Any notice or communication delivered in person shall be deemed effective on
delivery or when delivery is refused. Any notice or communication sent by
telecopy or by air courier shall be deemed effective on the first Business
Day at the place at which such notice or communication is received following
the day on which such notice or communication was sent.

         10.6. AMENDMENT AND MODIFICATION. This Agreement or the Ancillary
Agreements may not be amended or modified in any respect except by a written
agreement signed by both of the parties hereto.

         10.7. BINDING EFFECT; ASSIGNMENT. This Agreement and all of the
provisions hereof shall be binding upon the parties hereto and inure to the
benefit of the parties hereto and their respective successors and permitted
assigns. Except with respect to a merger of either party with another Person,
neither this Agreement nor any of the rights, interests or obligations
hereunder shall be assigned by either party hereto without the prior written
consent of the other party, which consent shall not be unreasonably withheld
or delayed; PROVIDED, HOWEVER, that Methode and Stratos may assign their
respective rights, interests, duties, liabilities and obligations under this
Agreement to any of their respective Subsidiaries, but such assignment shall
not relieve Methode or Stratos, as the assignee, of its obligations hereunder.

         10.8. THIRD PARTY BENEFICIARIES. The Indemnitees and their
respective successors shall be third party beneficiaries of the
indemnification provisions of Article 5, as applicable, and shall be entitled
to enforce those provisions, in each such case as fully and to the same
extent as if they were parties to this Agreement. Except as provided in the
previous sentence, nothing in this Agreement, express or implied, is intended
to or shall confer upon any Person (other than the Parties and their
successors and assigns) any legal or equitable right, benefit or remedy of
any nature whatsoever under or by reason of this Agreement, and no Person
(other than as provided in the previous sentence) shall be deemed a third
party beneficiary under or by reason of this Agreement.

         10.9. COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which shall be deemed to be an original, but all of
which together shall constitute one and the same agreement. The Agreement may
be delivered by facsimile transmission of a signed copy thereof.

         10.10. WAIVER. The observance of any term of this Agreement may be
waived (either generally or in a particular instance and either retroactively
or prospectively) by the party entitled to enforce such term, but such waiver
shall be effective only if it is in writing signed by the party against which
such waiver is to be asserted. Unless otherwise expressly provided in this
Agreement, no delay or omission on the part of any party in exercising any
right under this Agreement shall operate as a waiver thereof, nor shall any
waiver on the part of any party of any right under this Agreement operate as
a waiver of any other right under this Agreement nor shall any single or
partial exercise of any right preclude any other or further exercise thereof
or the exercise of any other right under this Agreement. No failure by either
party to take any action or

                                      -19-
<PAGE>

assert any right hereunder shall be deemed to be a waiver of such right in
the event of the continuation or repetition of the circumstances giving rise
to such right unless expressly waived in writing by the party against whom
the existence of such waiver is asserted.

         10.11. SEVERABILITY. Any provision of this Agreement which is
prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof. Any
such prohibition or unenforceability in any jurisdiction shall not invalidate
or render unenforceable such provision in any other jurisdiction.

         10.12. REMEDIES. Each of Methode and Stratos shall be entitled to
enforce its rights under this Agreement specifically, to recover damages and
costs (including reasonable attorneys' fees) caused by any breach of any
provision of this Agreement and to exercise all other rights existing in its
favor. Each of Methode and Stratos acknowledges and agrees that under certain
circumstances the breach by Methode or any of its Affiliates and Stratos or
any of its Affiliates, of a term or provision of this Agreement will
materially and irreparably harm the other party, that money damages will
accordingly not be an adequate remedy for such breach and that the
non-defaulting party, in its sole discretion and in addition to its rights
under this Agreement and any other remedies it may have at law or in equity,
may apply to any court of law or equity of competent jurisdiction (without
posting any bond or deposit) for specific performance and/or other injunctive
relief in order to enforce or prevent any breach of the provisions of this
Agreement.

         10.13. FURTHER ASSURANCES. In addition to actions specifically
provided for elsewhere in this Agreement, each of the parties hereto shall
use all commercially reasonable efforts to take, or cause to be taken, all
actions, and to do, or cause to be done, all things, reasonably necessary,
proper or advisable to consummate the transactions contemplated by this
Agreement and the Ancillary Agreements.

         10.14. HEADINGS. The headings of the sections and subsections of
this Agreement are inserted for convenience of reference only and shall not
constitute a part hereof.

         10.15. GOVERNING LAW. This Agreement shall be governed, construed
and enforced in accordance with the internal laws of the State of Illinois,
excluding any choice of law rules which may direct the application of the
laws of another jurisdiction.

         10.16. CONSENT TO EXCLUSIVE JURISDICTION. Any action, suit or
proceeding arising out of any claim that the parties cannot settle through
good faith negotiations shall be heard and determined in any Illinois state
or federal court sitting in Chicago. Each of the parties hereto hereby
irrevocably and unconditionally: (i) submits to the exclusive jurisdiction of
any Illinois state or federal court sitting in Chicago for any such action,
suit or proceeding; (ii) waives, and agrees not to plead or to make, any
objection to the venue of any such action, suit or proceeding in the
above-named courts; (iii) waives, and agrees not to plead or to make, any
claim that any such action, suit or proceeding brought in the above-named
courts has been brought in an

                                      -20-
<PAGE>

improper or otherwise inconvenient forum; and (iv) waives, and agrees not to
plead or to make, any claim that its is not subject personally to the
jurisdiction of the above-named courts.

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

                             METHODE ELECTRONICS, INC.

                             By:   /s/ William J. McGinley
                                -------------------------------------
                                   William J. McGinley
                                   Chairman

                             STRATOS LIGHTWAVE, INC.

                             By:    /s/ James W. McGinley
                                -------------------------------------
                                    James W. McGinley
                                    President and Chief Executive Officer

                                      -21-<PAGE>

                                                                  Exhibit 10.15

               INITIAL PUBLIC OFFERING AND DISTRIBUTION AGREEMENT

         This INITIAL PUBLIC OFFERING AND DISTRIBUTION AGREEMENT (the
"Agreement") is made and entered into as of June 26, 2000, by and between
Methode Electronics, Inc., a Delaware corporation ("Methode"), and Stratos
Lightwave, Inc., a Delaware corporation and a wholly-owned subsidiary of
Methode ("Stratos"). Capitalized terms used and not otherwise defined herein
are defined in Article 1 of this Agreement.

                                    RECITALS

         WHEREAS, Methode and Stratos have entered into that certain Master
Separation Agreement, dated as of May 28, 2000 (the "Master Separation
Agreement"), pursuant to which, among other things, Methode has contributed and
transferred to Stratos, all of the capital stock and equity interests held by
Methode in subsidiaries and other entities that conduct the Opto Business, and
all other assets and liabilities associated with such business, in exchange for
shares of Stratos Common Stock;

         WHEREAS, Methode and Stratos intend, for U.S. federal income tax
purposes, that such contribution of assets and assumption of liabilities will
qualify either as a tax-free reorganization under Section 368(a)(1)(D) of the
Code or as a tax-free transfer of assets under Section 351(a) of the Code;

         WHEREAS, Methode currently owns all of the issued and outstanding
Stratos Common Stock;

         WHEREAS, Stratos has previously filed the IPO Registration Statement
with the SEC but it has not yet become effective;

         WHEREAS, the parties currently contemplate that, reasonably promptly
following the execution of this Agreement, Stratos shall consummate the Initial
Public Offering;

         WHEREAS, immediately following the consummation of the Initial Public
Offering, Methode shall own approximately 86.1% of the outstanding shares of
Stratos Common Stock (or approximately 84.3% if the underwriters exercise their
over-allotment option in full in accordance with the Underwriting Agreement);

         WHEREAS, Methode currently contemplates that, following the closing of
the Initial Public Offering, Methode will distribute to the holders of its stock
by means of a pro rata distribution all of the shares of Stratos Common Stock
owned by Methode (the "Distribution");

         WHEREAS, Methode and Stratos intend, for U.S. federal income tax
purposes, that the Distribution will be tax-free to Methode and its stockholders
(other than with respect to cash received in lieu of fractional shares) under
Sections 355 and 361 of the Code; and

         WHEREAS, the parties intend in this Agreement to set forth the
arrangements between them regarding the Initial Public Offering and the
Distribution.

<PAGE>

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

                                    ARTICLE I
                                   DEFINITIONS

         For purposes of this Agreement, the following terms shall have the
meanings ascribed to them below:

         "ABANDONMENT NOTICE" has the meaning set forth in Section 2.6.

         "AFFILIATE" means a Stratos Affiliate or a Methode Affiliate, as the
case may be.

         "ANCILLARY AGREEMENTS" has the meaning set forth in the Master
Separation Agreement.

         "ANNUAL FINANCIAL STATEMENTS" has the meaning set forth in Section
4.1(a)(v).

         "BELOW THE THRESHOLD ACTION" has the meaning set forth in Section
4.2(c).

         "BUSINESS" means the Stratos Business or the Methode Business, as the
case may be.

         "BUSINESS DAY" means any day other than a Saturday, a Sunday, or a day
on which banking institutions located in the State of Illinois are authorized or
obligated by law or executive order to close.

         "CLAIM" has the meaning set forth in Section 5.7.

         "CODE" means the Internal Revenue Code of 1986, as amended from time to
time, together with the rules and regulations promulgated thereunder.

         "CONTROL" means the possession, directly or indirectly, of the power to
direct or cause the direction of the management and policies of a Person,
whether through the ownership of voting securities, by contract or otherwise.

         "DISPUTES" has the meaning set forth in Section 6.1.

         "DISPUTE NOTICE" means written notice of any dispute between Methode
and Stratos arising out of or relating to this Agreement, which shall set forth,
in reasonable detail, the nature of the dispute.

         "DISTRIBUTION DATE" means the date determined by Methode, in its sole
and absolute discretion, on which shares of Stratos Common Stock held by Methode
are distributed in connection with the Distribution.

                                      -2-
<PAGE>

         "DISTRIBUTION REGISTRATION STATEMENT" means any and all registration
statements, information statements or other documents filed by any party with
the SEC in connection with any transaction constituting part of the
Distribution, in each case as supplemented or amended from time to time.

         "EMPLOYEE BENEFIT PLAN ISSUANCE" shall have the meaning set forth in
Section 4.2(d).

         "EXCHANGE ACT" means the Securities Exchange Act of 1934, as amended
from time to time, together with the rules and regulations promulgated
thereunder.

         "GAAP" means generally accepted accounting principles, consistently
applied.

         "INDEMNIFYING PARTY" means a Person that is obligated to provide
indemnification under this Agreement.

         "INDEMNITEE" means a Person that is entitled to seek indemnification
under this Agreement.

         "INDEMNITY PAYMENT" means an amount that an Indemnifying Party is
required to pay to an Indemnitee under this Agreement.

         "INITIAL PUBLIC OFFERING" means the initial public offering by Stratos
of shares of Stratos Common Stock as contemplated by the IPO Registration
Statement.

         "INSURANCE PROCEEDS" means the payment received by an insured from an
insurance carrier or paid by an insurance carrier on behalf of the insured, net
of any applicable premium adjustment and tax effect.

         "IPO REGISTRATION STATEMENT" means the Registration Statement on Form
S-1, Registration No. 333-34864, filed by Stratos with the SEC in connection
with the initial public offering, as it may be amended.

         "IRS" means Internal Revenue Service of the U.S. Department of Treasury
or any successor agency.

         "LETTER RULING" means the advance letter rulings expected to be issued
by the IRS to Methode regarding certain U.S. federal income tax consequences of
the Distribution and other related transactions and any supplemental letter
rulings issued by the IRS with respect thereto; provided, however, that the
requesting party complied with the provisions of the Tax Sharing Agreement
relating to requests for supplemental rulings and obtained any necessary
approval of the other party thereto.

         "LOSSES" means all claims, demands, damages, losses, liabilities,
obligations, judgments, penalties, assessments, fines (civil or criminal),
forfeitures, settlements, costs, expenses or fees

                                      -3-
<PAGE>

(including reasonable attorneys' fees and court costs), of any nature or kind,
whether or not the same would properly be reflected on a balance sheet, and
"Loss" means any of these.

         "METHODE AFFILIATE" means a Person that, after giving effect to the
Distribution, directly or indirectly through one or more intermediaries, is
Controlled by Methode.

         "METHODE ANNUAL STATEMENTS" has the meaning set forth in Section
4.1(c)(ii).

         "METHODE COMMON STOCK" means the Class A and Class B Stock of Methode.

         "METHODE CLASS A COMMON STOCK" means the Class A common stock, par
value $.50 per share, of Methode.

         "METHODE CLASS B COMMON STOCK" means the Class B common stock, per
value $.50 per share, of Methode.

         "METHODE BUSINESS" means any business or operations of Methode or any
Methode Affiliates other than the Stratos Business.

         "METHODE DISCLOSURE PORTIONS" means all material set forth in, or
incorporated by reference into, either the IPO Registration Statement or the
Distribution Registration Statement, as applicable, to the extent relating
exclusively to: (i) Methode and the Methode Affiliates (excluding Stratos and
the Stratos Affiliates); (ii) the Methode Business; (iii) Methode's intentions
with respect to the Distribution; or (iv) the terms of the Distribution,
including, without limitation, the form, structure and terms of any
transaction(s) and/or offering(s) to effect the Distribution and the timing of
and conditions to the consummation of the Distribution.

         "METHODE PUBLIC FILINGS" has the meaning set forth in Section
4.1(a)(xii).

         "METHODE TRANSFER AGENT" means Chase Mellon Shareholders Services,
L.L.C., in its capacity as the transfer agent and registrar for the Methode
Common Stock.

         "METHODE'S AUDITORS" has the meaning set forth in Section 4.1(c)(ii).

         "NOTICE" means any notice, request, claim, demand, or other
communication under this Agreement.

         "OPTO BUSINESS" has the meaning set forth in the Master Separation
Agreement.

         "PERSON" means an individual, a partnership, a corporation, a limited
liability company, an association, a joint stock company, a trust, a joint
venture, an unincorporated organization, any other entity, or any government or
any department or agency or other unit thereof.

         "QUARTERLY FINANCIAL STATEMENTS" has the meaning set forth in Section
4.1(a)(iv).

                                      -4-
<PAGE>

         "REGULATION S-K" means Regulation S-K of the General Rules and
Regulations promulgated by the SEC.

         "REGULATION S-X" means Regulation S-X of the General Rules and
Regulations promulgated by the SEC.

         "REQUEST" has the meaning set forth in Section 5.7.

         "SEC" means the United States Securities and Exchange Commission or any
successor agency.

         "SECTION 4.2(d) PER SHARE FAIR MARKET VALUE" means, as of any date of
determination, (i) with respect to any share of Stratos Common Stock or any
other share of Stratos Capital Stock quoted on the Nasdaq National Market or any
other stock exchange or inter-dealer or other quotation system, the average of
the closing prices of Stratos Common Stock or such other Stratos Capital Stock
on the Nasdaq National Market or such other stock exchange or inter-dealer or
other quotation system during the sixty (60) trading days immediately preceding
such date of determination (it being understood and agreed that if any class of
Stratos Common Stock or Stratos Capital Stock is traded and/or quoted on more
than one stock exchange or inter-dealer or other quotation system, the
calculation to be made pursuant to this clause (i) shall be based upon the
closing prices of such class of Stratos Common Stock or Stratos Capital Stock on
the stock exchange or inter-dealer or other quotation system which had the
greatest average daily trading volume in shares of such class during the
relevant sixty (60) trading day period), and (ii) with respect to any share of
Stratos Capital Stock that is not publicly traded, the per share fair market
value as determined by a nationally recognized investment banking firm mutually
agreed by Stratos and Methode in their reasonable discretion.

         "SECURITIES ACT" means the Securities Act of 1933, as amended from time
to time, together with the rules and regulations promulgated thereunder.

         "SEPARATE COUNSEL" has the meaning set forth in Section 5.6(b).

         "STRATOS AFFILIATE" means a Person that, after giving effect to the
Distribution, directly or indirectly through one or more intermediaries, is
Controlled by, or is under common Control with Stratos.

         "STRATOS BUSINESS" means any business or operations of Stratos or any
Stratos Affiliates, including, in all cases, any predecessor entities
(including, without limitation, the Opto Business).

         "STRATOS CAPITAL STOCK" means all classes or series of capital stock of
Stratos.

         "STRATOS COMMON STOCK" means the common stock, par value $.01 per
share, of Stratos.

         "STRATOS PUBLIC FILINGS" has the meaning set forth in Section
4.1(a)(viii).

                                      -5-
<PAGE>

         "STRATOS TRANSFER AGENT" means ChaseMellon Shareholder Services,
L.L.C., in its capacity as the transfer agent and registrar for the Stratos
Common Stock.

         "STRATOS' AUDITORS" has the meaning set forth in Section 4.1(c)(i).

         "SUBSIDIARY" means with respect to any specified Person, any
corporation or other legal entity of which such Person or any of its
Subsidiaries Controls or owns, directly or indirectly, more than fifty percent
(50%) of the stock or other equity interest entitled to vote with respect to the
election of members to the board of directors or similar governing body;
PROVIDED, HOWEVER, that for the purposes of this Agreement, neither Stratos nor
any of the Subsidiaries of Stratos shall be deemed to be Subsidiaries of Methode
or of any of the Subsidiaries of Methode.

         "TAX" or "TAXES" has the meaning set forth in the Tax Sharing
Agreement.

         "TAX-RELATED LOSSES" means: (i) all federal, state and local Taxes
(including interest and penalties thereon) imposed pursuant to any settlement,
final determination, judgment, claim, audit, examination, proceeding or
otherwise; (ii) all accounting, legal and other professional fees, and court
costs incurred in connection with such Taxes; and (iii) all costs and expenses
that may result from adverse Tax consequences to Methode payable by Methode or
Methode Affiliates.

         "TAX SHARING AGREEMENT" means the Tax Sharing and Indemnification
Agreement to be entered into between Methode and Stratos.

         "THIRD-PARTY CLAIM" means any claim, suit, arbitration, inquiry,
proceeding or investigation by or before any court, governmental or other
regulatory or administrative agency or commission or any arbitration tribunal
asserted by a Person other than Methode or any Methode Affiliate or Stratos or
any Stratos Affiliate that gives rise to a right of indemnification hereunder.

         "UNDERWRITING AGREEMENT" means the Underwriting Agreement between
Stratos and the underwriters relating to the Initial Public Offering, as amended
from time to time.

                                    ARTICLE 2
                THE INITIAL PUBLIC OFFERING AND THE DISTRIBUTION.

         2.1. THE INITIAL PUBLIC OFFERING. Stratos shall consult with, and
cooperate in all respects with, Methode in connection with the pricing of the
Stratos Common Stock to be offered in the Initial Public Offering and shall, at
Methode's direction, promptly take any and all actions necessary or desirable to
consummate the Initial Public Offering, as contemplated by the IPO Registration
Statement and the Underwriting Agreement.

         2.2. THE DISTRIBUTION. Methode currently intends to complete the
Distribution by the later of (i) six (6) months from the date of the Initial
Public Offering, or (ii) three (3) months from the date of a Letter Ruling from
the IRS confirming that the Distribution is tax-free to Methode and its
stockholders (other than with respect to cash received in lieu of fractional

                                      -6-
<PAGE>

shares). Methode shall, in its sole and absolute discretion, determine whether
to proceed with all or part of the Distribution and all terms of the
Distribution, including, without limitation, the form, structure and terms of
any transaction(s) and/or offering(s) to effect the Distribution and the timing
of and conditions to the consummation of the Distribution. In addition, Methode
may at any time and from time to time until the completion of the Distribution
modify or change the terms of the Distribution, including, without limitation,
by accelerating or delaying the timing of the consummation of all or part of the
Distribution. Stratos shall cooperate with Methode in all respects to accomplish
the Distribution and shall, at Methode's direction, promptly take any and all
actions necessary or desirable to effect the Distribution, including, without
limitation, the registration under the Securities Act of Stratos Common Stock on
an appropriate registration form or forms to be designated by Methode, if
required by applicable law. Methode shall select any investment banker(s) and
manager(s) in connection with the Distribution, as well as any financial
printer, solicitation and/or exchange agent and outside counsel for Methode;
PROVIDED, HOWEVER, that nothing herein shall prohibit Stratos from engaging (at
its own expense) its own financial, legal, accounting and other advisors in
connection with the Distribution.

         2.3. CERTAIN STOCKHOLDER MATTERS. From and after the distribution of
Stratos Common Stock in connection with any transaction(s) included as part of
the Distribution and until such Stratos Common Stock is duly transferred in
accordance with applicable law, Stratos shall regard the Persons receiving
Stratos Common Stock in such transaction(s) as record holders of Stratos Common
Stock in accordance with the terms of such transaction(s) without requiring any
action on the part of such Persons. Stratos agrees that, subject to any
transfers of such stock, (a) each such holder shall be entitled to receive all
dividends payable on, and exercise voting rights and all other rights and
privileges with respect to, the shares of Stratos Common Stock then held by such
holder, and (b) each such holder shall be entitled, without any action on the
part of such holder, to receive one or more certificates representing, or other
evidence of ownership of, the shares of Stratos Common Stock then held by such
holder. Methode shall cooperate, and shall instruct the Methode Transfer Agent
to cooperate, with Stratos and the Stratos Transfer Agent, and Stratos shall
cooperate, and shall instruct the Stratos Transfer Agent to cooperate, with
Methode and the Methode Transfer Agent, in connection with all aspects of the
Distribution and all other matters relating to the issuance and delivery of
certificates representing, or other evidence of ownership of, the shares of
Stratos Common Stock distributed to the holders of Methode Common Stock in
connection with any transaction(s) included as part of the Distribution.
Following the Distribution, Methode shall instruct the Methode Transfer Agent to
deliver to the Stratos Transfer Agent true, correct and complete copies of the
stock and transfer records reflecting the holders of Methode Common Stock
receiving shares of Stratos Common Stock in connection with any transaction(s)
included as part of the Distribution.

         2.4. PRIOR RELATIONSHIP. Stratos, with respect to Stratos and all of
the Stratos Affiliates, and Methode, with respect to Methode and all of the
Methode Affiliates, agree to take all commercially reasonable action to
discontinue their respective uses as promptly as is commercially reasonable of
any printed material that indicates an ownership or other relationship between
or among Methode and Stratos or any of their respective Affiliates that has
changed as a result of the Initial Public Offering, the Distribution or any
other transactions contemplated

                                      -7-
<PAGE>

hereby; PROVIDED, HOWEVER, that this Section 2.4 shall not prohibit the use of
printed material containing appropriate and accurate references to such
relationship.

         2.5. FURTHER ASSURANCES REGARDING THE DISTRIBUTION. In addition to the
actions specifically provided for elsewhere in this Agreement, Stratos shall, at
Methode's direction, use all commercially reasonable efforts to take, or cause
to be taken, all actions, and to do, or cause to be done, all things
commercially reasonably necessary, proper or expeditious under applicable laws,
regulations and agreements in order to consummate and make effective the
Distribution as promptly as reasonably practicable. Without limiting the
generality of the foregoing, Stratos shall, at Methode's direction, cooperate
with Methode, and execute and deliver, or use all commercially reasonable
efforts to cause to have executed and delivered, all instruments, including
instruments of conveyance, assignment and transfer, and to make all filings
with, and to obtain all consents, approvals or authorizations of, any domestic
or foreign governmental or regulatory authority requested by Methode in order to
consummate and make effective the Distribution.

         2.6. ABANDONMENT OF THE DISTRIBUTION. The parties expressly acknowledge
and agree that Methode is not obligated in any respect to proceed with or
complete the Distribution and that Methode may, in its sole and absolute
discretion, at any time abandon its plans to proceed with or complete the
Distribution. In the event that Methode so determines that it no longer intends
to proceed with or complete the Distribution, Methode shall promptly after such
determination provide to Stratos a written notification of such determination
(an "Abandonment Notice"). Effective as of the date of the Abandonment Notice,
(a) Section 4.2 of this Agreement shall terminate, become null and void and have
no further force and effect (it being expressly understood and agreed by the
parties that such Section shall remain in full force and effect in the event
that the Distribution has occurred on or prior to the date of the Abandonment
Notice), and (b) Methode's rights, and Stratos' obligations, set forth in the
Registration Rights Agreement shall immediately become effective.

                                    ARTICLE 3
                                    EXPENSES

         3.1 EXPENSES RELATING TO THE CONTRIBUTION, INITIAL PUBLIC OFFERING
AND THE DISTRIBUTION. Except as otherwise provided in this Agreement, the
Master Separation Agreement, any of the other Ancillary Agreements or any
other agreement between the parties relating to the Contribution, the Initial
Public Offering or the Distribution, all costs, fees and expenses in
connection with the Contribution and the Initial Public Offering incurred on
or after May 28, 2000 and the fees payable to the investment banking firm
engaged by Methode and Stratos in connection with the Distribution shall be
paid by Stratos and all costs, fees and expenses in connection with the
Contribution and the Initial Public Offering incurred prior to May 28, 2000
and all other costs, fees and expenses in connection with the Distribution
shall be paid by Methode; PROVIDED, HOWEVER, that any internal costs incurred
by either party or an Affiliate thereof shall be paid by the party that
incurs such costs.

                                      -8-
<PAGE>

                                    ARTICLE 4
                                CERTAIN COVENANTS

         4.1.     FINANCIAL AND OTHER INFORMATION.

         (a) STRATOS FINANCIAL INFORMATION. Stratos agrees that, for so long as
Methode is required to consolidate Stratos' results of operations and financial
position or to account for its investment in Stratos under the equity method of
accounting (determined in accordance with GAAP):

          (i)     Stratos shall, and shall cause each of its Subsidiaries to,
                  maintain a system of internal accounting controls that will
                  provide reasonable assurance that: (A) Stratos' and such
                  Subsidiaries' books, records and accounts fairly reflect all
                  transactions and dispositions of assets, and (B) the specific
                  objectives of accounting control are achieved.

          (ii)    Stratos shall, and shall cause each of its Subsidiaries to,
                  maintain a fiscal year that coincides with Methode's fiscal
                  year.

          (iii)   Methode shall provide Stratos with reasonable advance notice
                  of its corporate closing requirements, schedule and proposed
                  filing dates, and Stratos shall deliver to Methode all
                  schedules requested by Methode, consistent with Methode's
                  corporate closing requirements and in a time consistent with
                  Methode's corporate closing schedule.

         (iv)     As soon as practicable, and in any event within thirty-five
                  (35) days after the end of each of the first three fiscal
                  quarters in each fiscal year of Stratos and no later than five
                  (5) days before Stratos intends to file its Quarterly
                  Financial Statements (as defined below) with the SEC, Stratos
                  shall deliver to Methode drafts of (A) the consolidated
                  financial statements of Stratos and its Subsidiaries (and
                  notes thereto) for such periods and for the period from the
                  beginning of the current fiscal year to the end of such
                  quarter, setting forth in each case in comparative form for
                  each such fiscal quarter of Stratos the consolidated figures
                  (and notes thereto) for the corresponding quarter and periods
                  of the previous fiscal year and all in reasonable detail and
                  prepared in accordance with Article 10 of Regulation S-X, and
                  (B) a discussion and analysis by management of Stratos' and
                  its Subsidiaries' financial condition and results of
                  operations for such fiscal period, including, without
                  limitation, an explanation of any material adverse change, all
                  in reasonable detail and prepared in accordance with Item
                  303(b) of Regulation S- K. The information set forth in (A)
                  and (B) above is herein referred to as the "Quarterly
                  Financial Statements." No later than the earlier of (x) two
                  (2) Business Days prior to the date Stratos publicly files the
                  Quarterly Financial Statements with the SEC or otherwise makes
                  such Quarterly Financial Statements publicly available, or (y)
                  two (2) Business Days prior to the date on which Methode has
                  notified Stratos that it intends to file its quarterly
                  financial statements with the

                                      -9-
<PAGE>

                  SEC, Stratos shall deliver to Methode the final form of the
                  Quarterly Financial Statements certified by the chief
                  financial officer of Stratos as presenting fairly, in all
                  material respects, the financial condition and results of
                  operations of Stratos and its Subsidiaries; PROVIDED, HOWEVER,
                  that Stratos may continue to revise such Quarterly Financial
                  Statements prior to the filing thereof in order to make
                  corrections and changes which revisions shall be delivered by
                  Stratos to Methode as soon as practicable; and, PROVIDED,
                  FURTHER, that Methode and Stratos financial representatives
                  shall actively consult with each other regarding any changes
                  (whether or not substantive) that Stratos may consider making
                  to its Quarterly Financial Statements and related disclosures
                  during the three (3) Business Days immediately prior to any
                  anticipated filing with the SEC, and Stratos shall obtain
                  Methode's consent prior to making any change to Stratos'
                  Quarterly Financial Statements or related disclosures that
                  would have an effect upon Methode's financial statements or
                  related disclosures. In addition, no Quarterly Financial
                  Statement or any other document that refers, or contains
                  information with respect, to the ownership of Stratos by
                  Methode, the separation of Stratos from Methode or the
                  Distribution shall be filed with the SEC or otherwise made
                  public by Stratos or any of its Subsidiaries without Methode's
                  prior written consent.

         (v)      Stratos shall deliver to Methode as soon as practicable, and
                  in any event within sixty (60) days after the end of each
                  fiscal year of Stratos and no later than ten (10) days before
                  Stratos intends to file its Annual Financial Statements (as
                  defined below) with the SEC, (A) drafts of the consolidated
                  financial statements of Stratos (and notes thereto) for such
                  fiscal year, setting forth in each case in comparative form
                  the consolidated figures (and notes thereto) for the previous
                  fiscal year and all in reasonable detail and prepared in
                  accordance with Regulation S-X, and (B) a discussion and
                  analysis by management of Stratos' and its Subsidiaries'
                  financial condition and results of operations for such year,
                  including, without limitation, an explanation of any material
                  adverse change, all in reasonable detail and prepared in
                  accordance with Item 303(a) of Regulation S-K. The information
                  set forth in (A) and (B) above is herein referred to as the
                  "Annual Financial Statements." Stratos shall deliver to
                  Methode all revisions to such drafts as soon as any such
                  revisions are prepared or made. No later than the earlier of
                  (x) five (5) Business Days prior to the date Stratos publicly
                  files the Annual Financial Statements with the SEC or
                  otherwise makes such Annual Financial Statements publicly
                  available, or (y) five (5) Business Days prior to the date on
                  which Methode has notified Stratos that it intends to file its
                  annual financial statements with the SEC, Stratos shall
                  deliver to Methode the final form of the Annual Financial
                  Statements certified by the chief financial officer of Stratos
                  as presenting fairly, in all material respects, the financial
                  condition and results of operations of Stratos and its
                  Subsidiaries; PROVIDED, HOWEVER, that Stratos may continue to
                  revise such Annual Financial Statements prior to the filing
                  thereof in order to make corrections and changes which
                  revisions shall be delivered by Stratos to Methode as soon as
                  practicable; and, PROVIDED, FURTHER, that Methode and Stratos
                  financial representatives shall actively consult with each
                  other regarding any changes

                                      -10-
<PAGE>

                  (whether or not substantive) that Stratos may consider making
                  to its Annual Financial Statements and related disclosures
                  during the three (3) Business Days immediately prior to any
                  anticipated filing with the SEC, and Stratos shall obtain
                  Methode's consent prior to making any change to Stratos'
                  Annual Financial Statements or related disclosures that would
                  have an effect upon Methode's financial statements or related
                  disclosures. In addition, no Annual Financial Statement or any
                  other document that refers, or contains information with
                  respect, to the ownership of Stratos by Methode, the
                  separation of Stratos from Methode or the Distribution shall
                  be filed with the SEC or otherwise made public by Stratos or
                  any of its Subsidiaries without Methode's prior written
                  consent. In any event, Stratos shall deliver to Methode, no
                  later than seventy-five (75) days after the end of each fiscal
                  year of Stratos, the final form of the Annual Financial
                  Statements accompanied by an opinion thereon by Stratos'
                  independent certified public accountants.

          (vi)    Stratos shall deliver to Methode all Quarterly and Annual
                  Financial Statements of each Subsidiary of Stratos that is
                  itself required to file financial statements with the SEC or
                  otherwise make such financial statements publicly available,
                  with such financial statements to be provided in the same
                  manner and detail and on the same time schedule as those
                  financial statements of Stratos required to be delivered to
                  Methode pursuant to this Section 4.1.

         (vii)    All information provided by Stratos or any of its Subsidiaries
                  to Methode pursuant to Sections 4.1(a)(iii) through (vi)
                  inclusive shall be consistent in terms of format and detail
                  and otherwise with the procedures in effect on the date hereof
                  with respect to the provision of such financial information by
                  the Stratos Business and/or Stratos and its Subsidiaries, as
                  applicable, to Methode (and, where appropriate, as presently
                  presented in financial reports to Methode's Board of
                  Directors), with such changes therein as may be requested by
                  Methode from time to time consistent with changes in reporting
                  by divisions and Subsidiaries of Methode.

         (viii)   Stratos and each of its Subsidiaries that files information
                  with the SEC shall deliver to Methode (A) as soon as the same
                  are prepared, substantially final drafts of: (x) all reports,
                  notices and proxy and information statements to be sent or
                  made available by Stratos or any of its Subsidiaries to their
                  security holders, (y) all regular, periodic and other reports
                  to be filed under Sections 13, 14 and 15 of the Exchange Act
                  (including Reports on Forms 10-K, 10-Q and 8-K and Annual
                  Reports to Shareholders), and (z) all registration statements
                  and prospectuses to be filed by Stratos or any of its
                  Subsidiaries with the SEC or any securities exchange pursuant
                  to the listed company manual (or similar requirements) of such
                  exchange (collectively, the documents identified in clauses
                  (x), (y) and (z) are referred to herein as "Stratos Public
                  Filings"), and (B) as soon as practicable, but in no event
                  later than five (5) Business Days prior to the date the same
                  are printed, sent or filed, whichever is earliest, final
                  copies of all such Stratos Public Filings;

                                      -11-
<PAGE>

                  PROVIDED, HOWEVER, that Stratos may continue to revise such
                  Stratos Public Filings prior to the filing thereof in order to
                  make corrections and changes which revisions shall be
                  delivered by Stratos to Methode as soon as practicable; and,
                  PROVIDED, FURTHER, that Methode and Stratos financial
                  representatives shall actively consult with each other
                  regarding any changes (whether or not substantive) that
                  Stratos may consider making to any of its Stratos Public
                  Filings and related disclosures prior to any anticipated
                  filing with the SEC, and Stratos shall obtain Methode's
                  consent prior to making any change to its Stratos Public
                  Filings or related disclosures that would have an effect upon
                  Methode's financial statements or related disclosures. In
                  addition, no Stratos Public Filings or any other document
                  which refers, or contains information with respect, to the
                  ownership of Stratos by Methode, the separation of Stratos
                  from Methode or the Distribution shall be filed with the SEC
                  or otherwise made public by Stratos or any of its Subsidiaries
                  without Methode's prior written consent.

          (ix)    Stratos shall, as promptly as practicable, deliver to Methode
                  copies of all annual and other budgets and financial
                  projections (consistent in terms of format and detail and
                  otherwise with the procedures in effect on the date hereof)
                  relating to Stratos or any of its Subsidiaries and shall
                  provide Methode an opportunity to meet with management of
                  Stratos to discuss such budgets and projections.

          (x)     With reasonable promptness, Stratos shall deliver to Methode
                  such additional financial and other information and data with
                  respect to Stratos and its Subsidiaries and their business,
                  properties, financial positions, results of operations and
                  prospects as from time to time may be reasonably requested by
                  Methode.

         (xi)     Prior to issuance, Stratos shall deliver to Methode copies of
                  substantially final drafts of all press releases and other
                  statements to be made available by Stratos or any of its
                  Subsidiaries to Stratos employees or any of its Subsidiaries
                  or to the public concerning material developments in the
                  business, properties, earnings, results of operations,
                  financial condition or prospects of Stratos or any of its
                  Subsidiaries or the relationship between (A) Stratos or any of
                  its Subsidiaries and (B) Methode or any of its Affiliates. In
                  addition, prior to the issuance of any such press release or
                  public statement, Stratos shall consult with Methode regarding
                  any changes (other than typographical or other similar minor
                  changes) to such substantially final drafts. Immediately
                  following the issuance thereof, Stratos shall deliver to
                  Methode copies of final drafts of all press releases and other
                  public statements. Stratos and Methode will consult with each
                  other as to the timing of their annual and quarterly earnings
                  releases and will give each other an opportunity to review the
                  information therein relating to Stratos and its Subsidiaries
                  and to comment thereon.

         (xii)    Stratos shall cooperate fully, and cause its accountants to
                  cooperate, with Methode to the extent reasonably requested by
                  Methode in the preparation of Methode's

                                      -12-
<PAGE>

                  public earnings releases, quarterly reports on Form 10-Q,
                  Annual Reports to Shareholders, Annual Reports on Form 10-K,
                  any Current Reports on Form 8-K and any other proxy,
                  information and registration statements, reports, notices,
                  prospectuses and any other filings made by Methode with the
                  SEC, any national securities exchange or otherwise made
                  publicly available (collectively, "Methode Public Filings").
                  Stratos agrees to provide to Methode all information that
                  Methode reasonably requests in connection with any Methode
                  Public Filings or that, in the judgment of Methode's legal
                  counsel, is required to be disclosed or incorporated by
                  reference therein under any law, rule or regulation. Such
                  information shall be provided by Stratos in a timely manner on
                  the dates reasonably requested by Methode (which may be
                  earlier than the dates on which Stratos otherwise would be
                  required hereunder to have such information available) to
                  enable Methode to prepare, print and release all Methode
                  Public Filings on such dates as Methode shall determine.
                  Stratos shall cause its accountants to consent to any
                  reference to them as experts in any Methode Public Filings
                  required under any law, rule or regulation. If and to the
                  extent reasonably requested by Methode, Stratos shall
                  diligently and promptly review all drafts of such Methode
                  Public Filings and prepare in a diligent and timely fashion
                  any portion of such Methode Public Filing pertaining to
                  Stratos. Prior to any printing or public release of any
                  Methode Public Filing, an appropriate executive officer of
                  Stratos shall, if requested by Methode, certify that the
                  information relating to Stratos, any Stratos Affiliate or the
                  Stratos Business in such Methode Public Filing is accurate,
                  true and correct in all material respects. Unless required by
                  law, rule or regulation, Stratos shall not publicly release
                  any financial or other information which conflicts with the
                  information with respect to Stratos, any Stratos Affiliate or
                  the Stratos Business that is included in any Methode Public
                  Filing without Methode's prior written consent. Prior to the
                  release or filing thereof, Methode shall provide Stratos with
                  a draft of any portion of a Methode Public Filing containing
                  information relating to Stratos and its Subsidiaries and shall
                  give Stratos an opportunity to review such information and
                  comment thereon; provided that Methode shall determine in its
                  sole discretion the final form and content of all Methode
                  Public Filings.

         (b) Methode shall cooperate fully, and cause its accountants to
cooperate fully, with Stratos to the extent reasonably requested by Stratos in
the preparation of any Stratos Public Filings. Methode agrees to provide to
Stratos all information that Stratos reasonably requests in connection with any
Stratos Public Filings or that, in the judgment of Stratos' legal counsel, is
required to be disclosed or incorporated by reference therein under any law,
rule or regulation. Such information shall be provided by Methode in a timely
manner on the dates reasonably requested by Stratos (which may be earlier than
the dates on which Methode otherwise would be required hereunder to have such
information available) to enable Stratos to prepare, print and release all
Stratos Public Filings on such dates as Stratos shall determine. Methode shall
cause its accountants to consent to any reference to them as experts in any
Stratos Public Filings required under any law, rule or regulation. If and to the
extent reasonably requested by Stratos, Methode shall diligently and promptly
review all drafts of such Stratos Public Filings and

                                      -13-
<PAGE>

prepare in a diligent and timely fashion any portion of such Stratos Public
Filing pertaining to Methode. Prior to any printing or public release of any
Stratos Public Filing, an appropriate executive officer of Methode shall, if
requested by Stratos, certify that the information relating to Methode, any
Methode Affiliate or any of their respective businesses in such Stratos Public
Filing is accurate, true and correct in all material respects. Unless required
by law, rule or regulation, Methode shall not publicly release any financial or
other information which conflicts with the information with respect to Methode,
any Methode Affiliate or any of their respective businesses that is included in
any Stratos Public Filing without Stratos' prior written consent. Prior to the
release or filing thereof, Stratos shall provide Methode with a draft of any
portion of a Stratos Public Filing containing information relating to Methode
and its Subsidiaries and shall give Methode an opportunity to review such
information and comment thereon; PROVIDED, HOWEVER, that Stratos shall determine
in its sole discretion the final form and content of all Stratos Public Filings.

         (c) AUDITORS AND AUDITS; ANNUAL STATEMENTS AND ACCOUNTING. Stratos
agrees that, for so long as Methode is required to consolidate Stratos' results
of operations and financial position or to account for its investment in Stratos
under the equity method of accounting (in accordance with GAAP):

          (i)     Stratos shall not select a different accounting firm than
                  Ernst & Young, LLP, to serve as its (and its Subsidiaries')
                  independent certified public accountants ("Stratos' Auditors")
                  without Methode's prior written consent (which shall not be
                  unreasonably withheld).

          (ii)    Stratos shall use its reasonable best efforts to enable the
                  Stratos' Auditors to complete their audit such that they will
                  date their opinion on Stratos' audited annual financial
                  statements on the same date that Methode's independent
                  certified public accountants ("Methode's Auditors") date their
                  opinion on Methode's audited annual financial statements (the
                  "Methode Annual Statements"), and to enable Methode to meet
                  its timetable for the printing, filing and public
                  dissemination of the Methode Annual Statements.

         (iii)    Stratos shall provide to Methode on a timely basis all
                  information that Methode reasonably requires to meet its
                  schedule for the preparation, printing, filing, and public
                  dissemination of the Methode Annual Statements. Without
                  limiting the foregoing, Stratos will provide all required
                  financial information with respect to Stratos and its
                  Subsidiaries to Stratos' Auditors in a sufficient and
                  reasonable time and in sufficient detail to permit Stratos'
                  Auditors to take all steps and perform all reviews necessary
                  to provide sufficient assistance to Methode's Auditors with
                  respect to information to be included in the Methode Annual
                  Statements.

          (iv)    Stratos shall authorize Stratos' Auditors to make available to
                  Methode's Auditors both the personnel who performed or are
                  performing the annual audit of Stratos and work papers related
                  to the annual audit of Stratos, in all cases within a
                  reasonable time prior to Stratos' Auditors' opinion date, so
                  that Methode's

                                      -14-
<PAGE>

                  Auditors are able to perform the procedures they consider
                  necessary to take responsibility for the work of Stratos'
                  Auditors as it relates to Methode's Auditors' report on
                  Methode's statements, all within sufficient time to enable
                  Methode to meet its timetable for the printing, filing and
                  public dissemination of the Methode Annual Statements.

          (v)     Stratos shall provide Methode's internal auditors access to
                  Stratos' and its Subsidiaries, books and records so that
                  Methode may conduct reasonable audits relating to the
                  financial statements provided by Stratos pursuant hereto as
                  well as to the internal accounting controls and operations of
                  Stratos and its Subsidiaries.

         (vi)     Stratos shall give Methode as much prior notice as reasonably
                  practical of any proposed determination of, or any significant
                  changes in, its accounting estimates or accounting principles
                  from those in effect on the date hereof. Stratos will consult
                  with Methode and, if requested by Methode, Stratos will
                  consult with Methode's independent public accountants with
                  respect thereto. Stratos will not make any such determination
                  or changes without Methode's prior written consent if such a
                  determination or a change would be sufficiently material to be
                  required to be disclosed in Stratos' financial statements as
                  filed with the SEC or otherwise publicly disclosed therein.

          (vii)   Notwithstanding clause (vi) above, Stratos shall make any
                  changes in its accounting estimates or accounting principles
                  that are requested by Methode in order for Stratos' accounting
                  estimates and principles to be consistent with those of
                  Methode.

         Nothing in this Section 4.1 shall require Stratos to violate any
agreement with any of its customers regarding the confidentiality of
commercially sensitive information relating to that customer or its business;
provided that in the event Stratos is required under this Section 4.1 to
disclose any such information, Stratos shall use all commercially reasonable
efforts to seek to obtain such customer's consent to the disclosure of such
information.

         4.2. OTHER COVENANTS. Stratos hereby covenants and agrees that, for so
long as Methode beneficially owns at least fifty percent (50%) of the
outstanding shares of Stratos Common Stock, or until this Section 4.2 is
terminated pursuant to Section 2.6 hereof:

         (a) Stratos shall not, without Methode's prior written consent (which
it may withhold in its sole and absolute discretion), take, or cause to be
taken, directly or indirectly, any action, including making or failing to make
any election under the law of any state, which has the effect, directly or
indirectly, of restricting or limiting Methode's ability to freely sell,
transfer, assign, pledge or otherwise dispose of shares of Stratos Common Stock
or, other than as provided in a stockholder rights plan approved in advanced by
Methode, would restrict or limit the rights of any transferee of Methode as a
holder of Stratos Common Stock. Without limiting the foregoing, Stratos shall
not, without Methode's prior written consent (which it may withhold in its sole
and absolute discretion), (i) amend, supplement, restate, modify or alter any
stockholder rights plan

                                      -15-
<PAGE>

adopted by Stratos in any manner that would result in (A) the ownership of
Stratos Common Stock by Methode causing the rights thereunder to detach or
become exercisable and/or (B) Methode and its transferees not being entitled to
the same rights thereunder as other holders of Stratos Common Stock, or (ii)
take any action, or take any action to recommend to its stockholders any action,
which would, among other things, limit the legal rights of, or deny any benefit
to, Methode as a Stratos stockholder in a manner not applicable to Stratos
stockholders generally.

         (b) Stratos shall not, without Methode's prior written consent (which
it may withhold in its sole and absolute discretion), issue any shares of
Stratos Capital Stock or any rights, warrants or options to acquire Stratos
Capital Stock (including, without limitation, securities convertible or
exchangeable for Stratos Capital Stock), if after giving effect to such
issuances and considering all of the shares of Stratos Capital Stock acquirable
pursuant to such rights, warrants and options to be outstanding on the date of
such issuance (whether or not then exercisable), Methode would own less than
eighty and one-half percent (80.5%) of the then outstanding shares of Stratos
Common Stock.

         (c) Subject to Section 4.2(d), if Methode determines in its sole
discretion that Stratos has taken, is taking or will or will likely undertake
any action, including, without limitation, the issuance or distribution of any
equity securities, that has or will or will (including when taken with other
actions by any Person) likely result in Methode owning less than eighty and
one-half percent (80.5%) of the then outstanding shares of Stratos Capital Stock
(a "Below the Threshold Action"), (i) Stratos shall, at Methode's option, (x)
upon notice from Methode immediately seek to reverse any such action already
taken, cease any such action being taken or not take any future action, as the
case may be, in each case to the satisfaction of Methode or (y) issue or
otherwise distribute to Methode, at no cost to Methode, additional equity
securities such that, after the consummation of any such action Methode will
again or will continue to (as the case may be) own not less than eighty and
one-half percent (80.5%) of the then outstanding shares of Stratos Capital
Stock, or (ii) Methode shall have the right to purchase shares of Stratos
Capital Stock on the open market or from third parties sufficient to ensure that
after the consummation of any such action Methode will again or will continue to
(as the case may be) own not less than eighty and one-half percent (80.5%) of
the then outstanding shares of Stratos Capital Stock, and Stratos shall promptly
reimburse Methode for the purchase price of such shares of Stratos Capital
Stock, together with all fees, commissions and other expenses incurred by
Methode in making such purchase.

         (d) If Methode determines in its sole discretion that Stratos has
taken, is taking or will or will likely undertake a Below the Threshold Action
after the second anniversary of the closing date of the Initial Public Offering
consisting solely of, or solely as a result of, the issuance of Stratos Common
Stock under Stratos' 2000 Stock Option Plan as such plan is in effect on such
closing date (an "Employee Benefit Plan Issuance"): (i) Stratos shall have no
obligation to comply with Section 4.2(c)(i)(x); (ii) any additional equity
securities of Stratos required to be issued or otherwise distributed by Stratos
to Methode in accordance with Section 4.2(c)(i)(y) shall be issued to Methode at
a price per share equal to the Section 4.2(d) Per Share Fair Market Value; and
(iii) Stratos shall have no obligation to reimburse Methode for purchases by
Methode

                                      -16-
<PAGE>

of Stratos Capital Stock on the open market or from third parties in accordance
with Section 4.2(c)(ii); PROVIDED, HOWEVER, that this Section 4.2(d) shall be of
no force and effect and Section 4.2(c) shall continue to apply to any Below the
Threshold Action if Methode determines, in its reasonable discretion, that (x)
the Below the Threshold Action is not solely attributable to an Employee Benefit
Plan Issuance or (y) it cannot in good faith determine whether the Below the
Threshold Action is solely attributable to an Employee Benefit Plan Issuance.

                                    ARTICLE 5
                                 INDEMNIFICATION

     5.1. INDEMNIFICATION BY STRATOS. Subject to Section 5.3, Stratos shall
indemnify, defend and hold harmless Methode, all Methode Affiliates and each of
their respective directors, officers and employees (in their capacities as
such), from and against:

         (a) all Losses relating to, arising out of, or due to, directly or
indirectly, any breach by Stratos or any Stratos Affiliate of any of the
provisions of this Agreement;

         (b) all Losses relating to, arising out of, or due to, directly or
indirectly, any incorrect, inaccurate or incomplete financial and other
information provided by Stratos or any Stratos Affiliate to Methode pursuant to
Section 4.1 of this Agreement;

         (c) all Losses relating to, arising out of, or due to any untrue
statement or alleged untrue statement of a material fact contained in, or
incorporated by reference into, the IPO Registration Statement or the omission
or alleged omission to state (whether pursuant to direct statement or
incorporation by reference) in the IPO Registration Statement a material fact
required to be stated therein or necessary to make the statements therein not
misleading other than with respect to the Methode Disclosure Portions; and

         (d) all Losses relating to, arising out of, or due to any untrue
statement or alleged untrue statement of a material fact contained in, or
incorporated by reference into, the Distribution Registration Statement or the
omission or alleged omission to state (whether pursuant to direct statement or
incorporation by reference) in the Distribution Registration Statement a
material fact required to be stated therein or necessary to make the statements
therein not misleading other than with respect to the Methode Disclosure
Portions.

         5.2. INDEMNIFICATION BY METHODE. Subject to Section 5.3, Methode shall
indemnify, defend, and hold harmless Stratos, all Stratos Affiliates, and each
of their respective directors, officers and employees (in their capacities as
such), from and against:

         (a) all Losses relating to, arising out of, or due to, directly or
indirectly, any breach by Methode or any Methode Affiliate of any of the
provisions of this Agreement;

         (b) all Losses relating to, arising out of, or due to, directly or
indirectly, any incorrect, inaccurate or incomplete financial and other
information provided by Methode or any Methode Affiliate to Stratos pursuant to
Section 4.1 of this Agreement;

                                      -17-
<PAGE>

         (c) all Losses relating to, arising out of, or due to any untrue
statement or alleged untrue statement of a material fact contained in, or
incorporated by reference into, the Methode Disclosure Portions of the IPO
Registration Statement or the omission or alleged omission to state (whether
pursuant to direct statement or incorporation by reference) in the Methode
Disclosure Portions of the IPO Registration Statement a material fact required
to be stated therein or necessary to make the statements therein not misleading;
and

         (d) all Losses relating to, arising out of, or due to any untrue
statement or alleged untrue statement of a material fact contained in, or
incorporated by reference into, the Methode Disclosure Portions of the
Distribution Registration Statement or the omission or alleged omission to state
(whether pursuant to direct statement or incorporation by reference) in the
Methode Disclosure Portions of the Distribution Registration Statement a
material fact required to be stated therein or necessary to make the statements
therein not misleading.

         5.3.     OTHER LIABILITIES.

         (a) This Article 5 shall not apply to any Tax-Related Losses or other
Tax matters (which shall be governed by the Tax Sharing Agreement) to the extent
that such application would give rise to duplicative payments.

         (b) This Article 5 shall not be applicable to any Losses relating to,
arising out of, or due to any breach of the provisions of any other contract,
agreement or understanding between Methode or any Methode Affiliate and Stratos
or any Stratos Affiliate, including, without limitation, the Master Separation
Agreement, the Tax Sharing Agreement and any of the other Ancillary Agreements,
which Losses shall be governed by the terms of such contract, agreement or
understanding.

         5.4.     TAX EFFECTS OF INDEMNIFICATION.

         (a) Any indemnification payment made under this Agreement shall be
characterized for tax purposes as if such payment were made immediately prior
to the Distribution Date except to the extent otherwise required by the Tax
Sharing Agreement.

         (b) The amount of any Loss for which indemnification is provided under
this Agreement shall be (i) increased to take account of net Tax cost, if any,
incurred by the Indemnitee arising from the receipt or accrual of an Indemnity
Payment hereunder (grossed up for such increase) and (ii) reduced to take
account of net Tax benefit, if any, realized by the Indemnitee arising from
incurring or paying such Loss. In computing the amount of any such Tax cost or
Tax benefit, the Indemnitee shall be deemed to recognize all other items of
income, gain, loss, deduction or credit before recognizing any item arising from
the receipt or accrual of any Indemnity Payment hereunder or incurring or paying
any indemnified Loss. Any Indemnity Payment hereunder shall initially be made
without regard to this Section 5.4 and shall be increased or reduced to reflect
any such net Tax cost (including gross-up) or net Tax benefit only

                                      -18-
<PAGE>

after the Indemnitee has actually realized such cost or benefit. For purposes of
this Agreement, an Indemnitee shall be deemed to have "actually realized" a net
Tax cost or a net Tax benefit to the extent that, and at such time as, the
amount of Taxes payable by such Indemnitee is increased above or reduced below,
as the case may be, the amount of Taxes that such Indemnitee would be required
to pay but for the receipt or accrual of the Indemnity Payment or the incurrence
or payment of such Loss, as the case may be. The amount of any increase or
reduction hereunder shall be adjusted to reflect any final determination (which
shall include the execution of Form 870-AD or successor form) with respect to
the Indemnitee's liability for Taxes, and payments between Methode and Stratos
to reflect such adjustment shall be made if necessary.

         5.5. EFFECT OF INSURANCE UPON INDEMNIFICATION. The amount which an
Indemnifying Party is required to pay to any Indemnitee pursuant to this Article
5 shall be reduced (including retroactively) by any Insurance Proceeds and other
amounts actually recovered by such Indemnitee in reduction of the related Loss,
it being understood and agreed that each of Stratos and Methode shall use
commercially reasonable efforts to collect any such proceeds or other amounts to
which it or any of its Affiliates is entitled, without regard to whether it is
the Indemnifying Party hereunder. No Indemnitee shall be required, however, to
collect any such proceeds or other amounts prior to being entitled to
indemnification from an Indemnifying Party hereunder. If an Indemnitee receives
an Indemnity Payment in respect of a Loss and subsequently receives Insurance
Proceeds or other amounts in respect of such Loss, then such Indemnitee shall
pay to such Indemnifying Party an amount equal to the difference between (a) the
sum of the amount of such Indemnity Payment and the amount of such Insurance
Proceeds or other amounts actually received and (b) the amount of such Loss, in
each case adjusted (at such time as appropriate adjustment can be determined) to
reflect any premium adjustment attributable to such claim.

         5.6.     PROCEDURE FOR INDEMNIFICATION INVOLVING THIRD-PARTY CLAIMS.

         (a) NOTICE OF CLAIM. If any Indemnitee receives notice of the assertion
of any Third-Party Claim with respect to which an Indemnifying Party is
obligated under this Agreement to provide indemnification, such Indemnitee shall
give such Indemnifying Party notice thereof (together with a copy of such
Third-Party Claim, process or other legal pleading) promptly after becoming
aware of such Third-Party Claim; PROVIDED, HOWEVER, that the failure of any
Indemnitee to give notice as provided in this Section shall not relieve any
Indemnifying Party of its obligations under this Article 5, except to the extent
that such Indemnifying Party is actually prejudiced by such failure to give
notice. Such notice shall describe such Third-Party Claim in reasonable detail.

         (b) OBLIGATION OF INDEMNIFYING PARTY. An Indemnifying Party, at such
Indemnifying Party's own expense and through counsel chosen by such Indemnifying
Party (which counsel shall be reasonably acceptable to the Indemnitee), may
elect to defend any Third-Party Claim. If an Indemnifying Party elects to defend
a Third-Party Claim, then, within ten (10) Business Days after receiving notice
of such Third-Party Claim (or sooner, if the nature of such Third-Party Claim so
requires), such Indemnifying Party shall notify the Indemnitee of its intent to
do so, and such Indemnitee shall cooperate in the defense of such Third-Party
Claim. Such Indemnifying

                                      -19-
<PAGE>

Party shall pay such Indemnitee's reasonable out-of-pocket expenses incurred in
connection with such cooperation. Such Indemnifying Party shall keep the
Indemnitee reasonably informed as to the status of the defense of such
Third-Party Claim. After notice from an Indemnifying Party to an Indemnitee of
its election to assume the defense of a Third-Party Claim, such Indemnifying
Party shall not be liable to such Indemnitee under this Article 5 for any legal
or other expenses subsequently incurred by such Indemnitee in connection with
the defense thereof other than those expenses referred to in the preceding
sentence; PROVIDED, HOWEVER, that such Indemnitee shall have the right to employ
one law firm as counsel, together with a separate local law firm in each
applicable jurisdiction ("Separate Counsel"), to represent such Indemnitee in
any action or group of related actions (which firm or firms shall be reasonably
acceptable to the Indemnifying Party) if, in such Indemnitee's reasonable
judgment at any time, either a conflict of interest between such Indemnitee and
such Indemnifying Party exists in respect of such claim, or there may be
defenses available to such Indemnitee which are different from or in addition to
those available to such Indemnifying Party and the representation of both
parties by the same counsel would be inappropriate, and in that event (i) the
reasonable fees and expenses of such Separate Counsel shall be paid by such
Indemnifying Party (it being understood, however, that the Indemnifying Party
shall not be liable for the expenses of more than one Separate Counsel
(excluding local counsel) with respect to any Third-Party Claim (even if against
multiple Indemnitees)) and (ii) each of such Indemnifying Party and such
Indemnitee shall have the right to conduct its own defense in respect of such
claim. If an Indemnifying Party elects not to defend against a Third-Party
Claim, or fails to notify an Indemnitee of its election as provided in this
Article 5 within the period of ten (10) Business Days described above, the
Indemnitee may defend, compromise, and settle such Third-Party Claim and shall
be entitled to indemnification hereunder (to the extent permitted hereunder);
PROVIDED, HOWEVER, that no such Indemnitee may compromise or settle any such
Third-Party Claim without the prior written consent of the Indemnifying Party,
which consent shall not be unreasonably withheld or delayed. Notwithstanding the
foregoing, the Indemnifying Party shall not, without the prior written consent
of the Indemnitee, (i) settle or compromise any Third-Party Claim or consent to
the entry of any judgment which does not include as an unconditional term
thereof the delivery by the claimant or plaintiff to the Indemnitee of a written
release from all liability in respect of such Third-Party Claim or (ii) settle
or compromise any Third-Party Claim in any manner that would be reasonably
likely to have a material adverse effect on the Indemnitee.

         (c) JOINT DEFENSE OF CERTAIN CLAIMS. Notwithstanding the provisions of
Section 5.6(b), Methode and Stratos shall jointly control the defense of, and
cooperate with each other with respect to defending, any Third-Party Claim with
respect to which each party is claiming that it is entitled to indemnification
under Section 5.1 or 5.2. If either Methode or Stratos fails to defend jointly
any such Third-Party Claim, the other party shall solely defend such Third-Party
Claim and the party failing to defend jointly shall use all commercially
reasonable efforts to cooperate with the other party in its defense of such
Third-Party Claim; provided, however, that neither party may compromise or
settle any such Third-Party Claim without the prior written consent of the other
party, which consent shall not be unreasonably withheld or delayed. All costs
and expenses of either party in connection with, and during the course of, the
joint control of the defense of any such Third-Party Claim shall be initially
paid by the party that incurs such costs and expenses. Such costs and expenses
shall be reallocated and reimbursed in accordance

                                      -20-
<PAGE>

with the respective indemnification obligations of the parties at the conclusion
of the defense of such Third-Party Claim.

         5.7. PROCEDURE FOR INDEMNIFICATION NOT INVOLVING THIRD-PARTY CLAIMS. If
any Indemnitee desires to assert against an Indemnifying Party any claim for
indemnification under this Article 5 other than a Third-Party Claim (a "Claim"),
the Indemnitee shall deliver to the Indemnifying Party notice of its demand for
satisfaction of such Claim (a "Request"), specifying in reasonable detail the
amount of such Claim and the basis for asserting such Claim. Within thirty (30)
days after the Indemnifying Party has been given a Request, the Indemnifying
Party shall either (i) satisfy the Claim requested to be satisfied in such
Request by delivering to the Indemnitee payment by wire transfer or a certified
or bank cashier's check payable to the Indemnified Party in immediately
available funds in an amount equal to the amount of such Claim, or (ii) notify
the Indemnitee that the Indemnifying Party contests such Claim by delivering to
the Indemnitee a Dispute Notice, stating that the Indemnifying Party objects to
such Claim and specifying in reasonable detail the basis for contesting such
Claim. Any dispute described in clause (ii) of this Section 5.7 shall be subject
to the provisions of Section 6.1.

         5.8. EXCLUSIVE REMEDIES. Except for the right to pursue equitable
remedies, the remedies provided in this Article 5 shall be deemed the sole and
exclusive remedies of the parties with respect to the subject matters of the
indemnification provisions of this Article 5.

                                    ARTICLE 6
                                  MISCELLANEOUS

     6.1. DISPUTE RESOLUTION. Except as otherwise set forth in the Ancillary
Agreements, resolution of any and all disputes arising from or in connection
with this Agreement, whether based on contract, tort, or otherwise
(collectively, "Disputes"), shall be exclusively governed by and settled in
accordance with the provisions of this Section 6.1. The parties hereto shall use
all commercially reasonable efforts to settle all Disputes without resorting to
mediation, arbitration, litigation or other third party dispute resolution
mechanisms. If any Dispute remains unsettled, the parties hereby agree to
mediate such Dispute using a mediator reasonably acceptable to all parties
involved in such Dispute. If the parties are unable to resolve such dispute
through mediation, each party will be free to commence proceedings for the
resolution thereof. No party shall be entitled to consequential, special,
exemplary or punitive damages.

         6.2. SURVIVAL. The representations and warranties contained in this
Agreement shall survive the execution and delivery hereof and the Distribution
until the expiration of all applicable statutes of limitations.

         6.3. ENTIRE AGREEMENT. Except as otherwise set forth in this Agreement,
this Agreement constitutes the entire agreement between the parties hereto with
respect to the subject matter hereof and shall supersede all prior agreements
and understandings, whether written or oral, between the parties with respect to
such subject matter.

                                      -21-
<PAGE>

         6.4. AUTHORITY. Each of the parties hereto represents to the other
that: (a) it has the corporate power and authority to execute, deliver and
perform this Agreement; (b) the execution, delivery and performance of this
Agreement by it has been duly authorized by all necessary corporate action; (c)
it has duly and validly executed and delivered this Agreement; and (d) this
Agreement is a legal, valid and binding obligation, enforceable against it in
accordance with its terms subject to applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting creditors' rights
generally and general equity principles.

         6.5. NOTICES. All notices and other communications hereunder shall be
in writing and shall be delivered in person, by telecopy, by express or
overnight mail delivered by a nationally recognized air courier (delivery
charges prepaid), or by registered or certified mail (postage prepaid, return
receipt requested) to the respective parties as follows:

<TABLE>
<CAPTION>

<S>                          <C>
         If to Methode:      Methode Electronics, Inc.
                             7401 W. Wilson Avenue
                             Chicago, Illinois 60706
                             Attention: Chief Executive Officer

         If to Stratos:      Stratos Lightwave, Inc.
                             7444 W. Wilson Avenue
                             Chicago, Illinois 60706
                             Attention: Chief Executive Officer
                             Telecopy No.: (708) 867-3288

</TABLE>

or to such other address as the party to whom notice is given may have
previously furnished to the others in writing in the manner set forth above. Any
notice or communication delivered in person shall be deemed effective on
delivery or when delivery is refused. Any notice or communication sent by
telecopy or by air courier shall be deemed effective on the first Business Day
at the place at which such notice or communication is received following the day
on which such notice or communication was sent.

         6.6. AMENDMENT AND MODIFICATION. This Agreement may not be amended or
modified in any respect except by a written agreement signed by both of the
parties hereto.

         6.7. BINDING EFFECT; ASSIGNMENT. This Agreement and all of the
provisions hereof shall be binding upon the parties hereto and inure to the
benefit of the parties hereto and their respective successors and permitted
assigns. Except with respect to a merger of either party with another Person,
neither this Agreement nor any of the rights, interests or obligations hereunder
shall be assigned by either party hereto without the prior written consent of
the other party, which consent shall not be unreasonably withheld or delayed.

         6.8. THIRD PARTY BENEFICIARIES. The Indemnitees and their respective
successors shall be third party beneficiaries of the indemnification provisions
of Article 5, as applicable, and shall be entitled to enforce those provisions
and in connection with such enforcement shall be subject to Section 5.6, in each
such case as fully and to the same extent as if they were parties to this

                                      -22-
<PAGE>

Agreement. Except as provided in the previous sentence, nothing in this
Agreement, express or implied, is intended to or shall confer upon any Person
any legal or equitable right, benefit or remedy of any nature whatsoever under
or by reason of this Agreement, and no Person (other than as provided in the
previous sentence) shall be deemed a third party beneficiary under or by reason
of this Agreement.

         6.9. COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

         6.10. WAIVER. The observance of any term of this Agreement may be
waived (either generally or in a particular instance and either retroactively or
prospectively) by the party entitled to enforce such term, but such waiver shall
be effective only if it is in writing signed by the party against which such
waiver is to be asserted. Unless otherwise expressly provided in this Agreement,
no delay or omission on the part of any party in exercising any right under this
Agreement shall operate as a waiver thereof, nor shall any waiver on the part of
any party of any right under this Agreement operate as a waiver of any other
right under this Agreement nor shall any single or partial exercise of any right
preclude any other or further exercise thereof or the exercise of any other
right under this Agreement. No failure by either party to take any action or
assert any right hereunder shall be deemed to be a waiver of such right in the
event of the continuation or repetition of the circumstances giving rise to such
right unless expressly waived in writing by the party against whom the existence
of such waiver is asserted.

         6.11. SEVERABILITY. Any provision of this Agreement which is prohibited
or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof. Any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

         6.12. REMEDIES. Each of Methode and Stratos shall be entitled to
enforce its rights under this Agreement specifically, to recover damages and
costs (including reasonable attorneys' fees) caused by any breach of any
provision of this Agreement and to exercise all other rights existing in its
favor. Each of Methode and Stratos acknowledges and agrees that under certain
circumstances the breach by Methode or any of its Affiliates or Stratos or any
of its Affiliates of a term or provision of this Agreement will materially and
irreparably harm the other party, that money damages will accordingly not be an
adequate remedy for such breach and that the non-defaulting party, in its sole
discretion and in addition to its rights under this Agreement and any other
remedies it may have at law or in equity, may apply to any court of law or
equity of competent jurisdiction (without posting any bond or deposit) for
specific performance and/or other injunctive relief in order to enforce or
prevent any breach of the provisions of this Agreement.

         6.13. PERFORMANCE. Each of the parties hereto shall use all
commercially reasonable efforts to cause to be performed all actions, agreements
and obligations set forth herein to be performed by any Affiliate of such party.

                                      -23-
<PAGE>

         6.14. HEADINGS. The headings of the sections and subsections of this
Agreement are inserted for convenience of reference only and shall not
constitute a part hereof.

         6.15. GOVERNING LAW. This Agreement shall be governed, construed and
enforced in accordance with the internal laws of the State of Illinois,
excluding any choice of law rules which may direct the application of the laws
of another jurisdiction.

         6.16. CONSENT TO EXCLUSIVE JURISDICTION. Any action, suit or proceeding
arising out of any claim that the parties cannot settle through good faith
negotiations shall be heard and determined in any Illinois state or federal
court sitting in Chicago. Each of the parties hereto hereby irrevocably and
unconditionally: (i) submits to the exclusive jurisdiction of any Illinois state
or federal court sitting in Chicago for any such action, suit or proceeding;
(ii) waives, and agrees not to plead or to make, any objection to the venue of
any such action, suit or proceeding in the above-named courts; (iii) waives, and
agrees not to plead or to make, any claim that any such action, suit or
proceeding brought in the above-named courts has been brought in an improper or
otherwise inconvenient forum; and (iv) waives, and agrees not to plead or to
make, any claim that its is not subject personally to the jurisdiction of the
above-named courts.

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

                                METHODE ELECTRONICS, INC.

                                By:  /s/ William J. McGinley
                                   ----------------------------------
                                         William J. McGinley
                                         Chairman

                                STRATOS LIGHTWAVE, INC.

                                By:  /s/ James W. McGinley
                                   ----------------------------------
                                         James W. McGinley
                                         President and
                                         Chief Executive Officer

                                      -24-

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