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                                                                   EXHIBIT 10.22

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SUBLEASE FOR OFFICE PREMISES
and other business premises not subject to section 7A: 1624 CC of the
Netherlands Civil Code

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according to the model decided upon by the Read voor Onroerende Laken (Council
for Property Matters) in February 1996. Reference to this model is only
permitted if the inserted, added or divergent text can easily be recognised as
such. Additions and divergences should preferably be included in the article
'Special Stipulations'. The Council accepts no responsibility for adverse
consequences &rising from the use of the text of the model.
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The undersigned:

Pemstar B.V.

with its registered office in Almelo

           ,                          hereinafter referred to as 'the Lessor',

represented by Mr  ...........

and

Fluke Industrial BV

with its registered office in Almelo, Lelyweg 1 (7602 EA)

                                      ,hereinafter referred to as 'the  Lessee',

listened in the Trade Register of Enschede
under number .............
 represented by Mr

have agreed to the following Sublease:

Premises, Purpose, Use

Initials Lessor:                                              Initials Lessee:

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                                       -2-

1.1 This agreement concerns approx. 290 M2 of office space, hereinafter referred
to as 'the leased space', in the CD complex no. 72 (partially), known locally as
Lelyweg 1 in Almelo, sufficiently known to the parties and further indicated on
the drawing of the leased space, which forms part of this lease, attached to
this deed and certified by the parties. The lessee will have joint use of
entrance gates, site roads, grounds and bicycle shed.

1.2 The leased space may be used exclusively as office space.

1.3 The lessee is not allowed to put the leased space to any other use than that
described in 1.2 without the prior written permission of the Lessor.

1.4 The highest permissible load on the floor(s) of the leased space is unknown
to the parties. If the lessee wishes to fit any facilities of fixtures of which
it expects or reasonably should reasonably expect that it can have and adverse
influence on the leased space, the lessee must obtain the lessor's prior written
approval.

Conditions
2.1 The general conditions for the leasing of office premises and other business
premises not subject to section 7A: 1624 CC of the Netherlands Civil Code,
deposited at the office of the District Court of The Hague on 29 February 1996
and registered under number 34/1996, hereinafter referred to as 'the General
Conditions', from part of this lease. The parties are fully informed of these
General Conditions, of which the lessee has received a copy.

2.2 The conditions referred to in 2.1 are applicable except in so far as the
conditions mentio-ned below expressly deviate from them or applicability in
relation to the leased space is not possible.

Term, Extension and Termination of the Lease
3.1 This lease is entered into for a period of 6 (six) months, commencing on 1
May 1999 and ending on 31 October 1999.

Initials Lessor:                                               Initials Lessee:

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                                       -3-

3.2 If Lessee delivers notice to Lessor at least one (1) month prior to the
expiry of the period referred to in 3. 1, this lease will be extended for a
contiguous period of 6 (six) months, that is until 30 April 2000.

3.3 Subject to Section 3.2, termination of this lease will take place by giving
notice before the end of a lease term with due observance of a period of notice
of at least 1 (one) month.

3.4 Termination of the lease may only occur by means of a writ or by registered
letter.

3.5 Premature termination of this lease is possible under one of the
circumstances referred to in 7 of the General Conditions.

Payment Obligations and Payment Term
4.1 The Lessee will be obliged to make the following payments:
- rent;
- payment for additional supplies and services plus the turnover tax payable
  thereon,
- turnover tax on the rent and or a corresponding sum in accordance
  with and with due observance of 15.2 and 15.3 of the General Conditions, if
  the parties have opted for the rent to be subject to turnover tax.

4.2 The rent amounts to an annual sum of NLG 25.123,58
in words          TWENTY-FIVE THOUSAND ONE-HUNDRED AND TWENTY-THREE
                  GUILDERS.

4.3 [Reserved]

4.4 The payment for additional supplies and services will be determined in
accordance with 12 of the General Conditions and as is stipulated therein, a
system of advance payments with settlement at a later date will be applied to
this payment.

4.5 The payments to be made by the Lessee to the Lessor will be due in a lump
sum in advance, in successive terms of payment as referred to in 4.6, and must
have been made in full before or on the

Initials Lessee:                                                Initials Lessor:

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                                       -4-

first day of the period to which the payments apply.

For each term of payment of one calendar month the following amounts will be
payable for:
    - the rent                                   NLG 2.093,63
    - the advance payment for additional
      supplies and services provided
      by or on behalf of the lessor              to be agreed upon (see Art, 6)
                                                 ---------------------
Total amount                                     NLG 2,093,63
in words:         TWO THOUSAND AND NINETY-THREE GUILDERS AND SIXTY- THREE
                  CENTS.
These amounts are exclusive of turnover tax.

With a view to the date of commencement of this lease, the first term of payment
relates to the period from 1 May up to and including 31 May 1999 and the amount
payable for this period is NLG 2.093,63, exclusive of turnover tax. The lessee
will pay this amount including any turnover tax charged thereon before or on 1
May 1999.

Turnover tax

All amounts mentioned in this lease are exclusive of turnover tax. The lessee is
required to pay turnover tax on the payments for additional supplies and
services. In the event of taxed rent, this also applies to the rent. Turnover
tax will be charged by the lessor and is required to be paid together with the
rent and the payment for additional supplies and services, or the advance
payment for these.

5.2 The parties agree that the lessor will charge the lessee turnover tax on the
rent.

If it has been agreed that turnover tax will be charged on the rent, the lessee
herewith

Initials Lessor:                                                Initials Lessee:

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                                       -5-

irrevocably authorizes the lessor and its successor(s) in title to submit on
its/their behalf an application as referred to in Section 11, subsection 1,
under b., 5o of the Turnover tax Act of 1968 (Wet op de Omzelbelasting 1968)
(with regard to opting for taxed rent). If so required, the lessee will co-sign
this application and return it to the lessor within 14 days of receiving it.

Supplies and services

6. For the supplies and services, please refer to the service contract between
the property manager and the lessee. The parties must have reached agreement on
its contents. With respect to the supplies and services relating to the
building/grounds, the obligatory services to be agreed upon include.
- maintenance of grounds, boundary partition and site lighting
- maintenance contracts for the technical systems including:
     * heating
     * cooling
     * air conditioning
- maintenance contracts infrastructure:
    * fire detectors/doors
    * breakdown alarms
    * building security system
- provision for repairs to the infrastructure
- energy supply (gas, water, light)
- sanitary facilities, towel dispensers, etc.
- cleaning costs of shared areas, exterior glazing
- security
- reception desk.

Property management

Until the lessor announces otherwise, the management of the property will be
carried out by the lessor.

Initials Lessor:                                                Initials Lessee:

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                                       -6-

9.  Special stipulations

BTW
Article 4. 1, third dash, is to be replaced by 'the turnover tax due on the rent
or a corresponding amount, in accordance with and taking into account the
stipulations in 9.1.2 up to and including 9.1.8 of the special conditions. The
stipulations in 15.2 and 15.3 of the general conditions which form part of this
agreement are hereby explicitly declared inapplicable'.

The lessee and the lessor explicitly declare that the starting point for
determining the rent was that the lessee will continue to use the space for the
percentage determined by law (at least 90%) for activities which entitle the
lessee to deduct turnover tax, in such a way that the parties can opt for taxed
rent.

If the lessee does not use or no longer uses the leased space for activities
which entitle it to deduct BTW as referred to in Article 9.1.2, the lessee will
no longer owe the lessor BTW on the rent, but the lessee will owe the lessor in
addition to the rent exclusive of BTW com-mencing on the date on which the rent
is exempted from BTW by way of a separate payment to the lessor such an amount
that the latter is fully compensated for:
The BTW which is no longer deductible as a result of the cancellation of the
    possibility to deduct BTW from the operating costs of or from investments in
    the leased space.
The BTW which the lessor has to pay to the tax authorities and/or can no longer
    reclaim from the tax authorities as a result of the cancellation of the
    possibility to deduct BTW due to a recalculation of the taxed rent as
    referred to in Section 15, subsection 4 of the Wet op de Omzetbelasting 1968
    Turnover Tax Act 1968) or revision as referred to in Sections 11, 12 and 13
    of the Uitvoeringsbeschikking omzelbelasting 1968 (Turnover Tax
    (Implementation) Decree 1968).
All other loss which the lessor incurs as a result of the cancellation of the
possibility to deduct BTW.

If a situation as referred to in Article 9.1.3 occurs, the lessor will inform
the lessee what amounts must be paid by the lessor to the tax authorities and
provide insight into the other losses as referred to in 9.1.3.
The lessor will give its cooperation if the lessee wishes to have the lessor's
specification checked by an independent registered accountant. The costs of this
will be at the lessee's expense.

Initials Lessor:                                                Initials Lessee:

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                                       -7-

The financial loss incurred by the lessor as a result of the cancellation of the
taxed rent must be paid by the lessee on the lessor's demand.

The stipulations in 9.1.3 and 9.1.4 also apply if the request opting for taxed
rent under Section 11 subsection b, under 5 of the Wet op de Omzethelasting 1968
(Turnover Tax Act 1968) is not granted by the tax authorities for whatever
reason. The stipulations in Sections 9. 1.3 and 9.1.4 also apply if the request
opting for taxed rent is granted commencing on a later date than requested, for
the period from the agreed commencement date of the taxed rent until the date of
commencement of the rent subject to turnover tax.
If the lessee, however, proves that it is due to acts or omissions of the lessor
that the request opting for taxed rent was not granted or not granted on the
agreed date, the lessee will not owe the payment referred to in 9.1.3.

The lessee will be obliged to inform the lessor by means of a signed statement
within four weeks of the end of its financial year in which it started to lease
the space (also if it has been has been made available wholly or partially to a
third party) whether or not it has used the leased space in the past financial
year for purposes for which a right to make a complete or practically complete
(at least 90%) deduction of BTW exists as laid down in Section 15 of the Wet op
de Omzelhelasting 1968.
The lessee shall furthermore be obliged to inform the lessor after each
successive financial year by means of a signed statement within four weeks
following the end of the financial year concerned if the leased space (also if
it has been has been made available wholly or partially to a third party) was
not used for purposes for which a right to make a complete or practically
complete (at least 90%) deduction of BTW exists as laid down in Section 15 of
the Wet op de Omzelbelasting 1968. In both cases the lessee will be obliged to
send a copy of the statement to the tax authorities within the same period.

If the lessee does not fulfil the aforementioned obligation to provide
information or if it turns out in retrospect that its assumptions were
incorrect, and it turns out in retrospect that the lessor has wrongly charged
BTW on the rent, the lessee shall be in default, and the lessor shall be
entitled to recover the resulting financial disadvantage from the lessee. This
disadvantage concerns

Initials Lessor:                                                Initials Lessee:

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                                       -8-

the full BTW still due by the lessor to the tax authorities plus interest, as
well as the BTW which the lessor cannot deduct.
The stipulations in this article contain an arrangement for compensation in the
event that the taxed rent ceases to be applicable with retroactive effect, in
addition to the arrangement set out in Articles 9.1.3 and 9.1.4. The additional
loss which results for the lessor from the retroactive effect, will be payable
by the lessee immediately, in full and as a lump sum. The lessor will give its
cooperation if the lessee wishes to have the lessor's specification of this
additional loss checked by an independent registered accountant. The costs of
this will be at the lessee's expense.
The stipulations set out in 9.1.3, 9.1.5 and 9.1.7 will also apply if the lessor
is confronted with a loss after the termination of the lease, whether premature
or not, due to the cancellation of the taxed rent agreed upon by the parties.
This loss will then be payable by the lessee to the lessor immediately, in full
and as a lump sum.

Other special stipulations

Each time in the context of this sublease, the word 'lessor' must be construed
as 'sublessor' and the word 'lessee' as 'sublessee' in as far as applicable.

The sublessor guarantees that the required permission to sublet has been granted
by the owner.

12. The sublessor makes available to the sublessee the existing:
- prefabricated dividing walls
- floor covering
- sun blinds, internally and externally.
The sublessee will maintain these items with due care and on the expiry of this
sublease make them once more available to the sublessor, who does not undertake
any obligation to maintain or replace them.

13. The lessee has the joint use of the large car park outside the entrance
gate. Within the gate, the lessee is entitled to two parking spaces to be
indicated later. The lessee's visitors may use the

Initials Lessor:                                                Initials Lessee:

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                                       -9-

Pemstar's visitors' parking spaces within the gate.

14. Any alterations in, on or to the leased space may only take place after
consultation with and with the written approval by the property manager.

15. The parties recognize and agree that the present lease ends on 30 April 2000
and that the lessee will deliver the leased space on this date completely
cleared and in a good state to the lessor, failing which it will now for then
forfeit a penalty of NLG 5,000 for each day on which it remains in default after
30 April 2000. The lessee hereby therefor expressly and irrevocably waives its
right to protection from eviction as provided in Article 28c sub 1 huurwet, and
expressly agrees to leave the leased space on 30 April 2000, as provided in
Article 28 c sub 2 Huurwet

Initials Lessor:                                                Initials Lessee:

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                                      -10-

16. Parties agree to delete the words "in a good state without faults", from
Article 1.2 of the General Provisions to the sublease Agreement s, as it is the
intention of the parties that Fluke will accept the leases space "as is, where
is".

17. Deletions
Deletion of Article 3.2 (partially):        approved.
Delection of Article 4.3 (completely):      approved.
Deletion of Article 7 (completely):         approved.

Drawn up and signed in triplicate,

 ..........place, ..........date                      Almelo, ..........date

The lessor                                           The lessee
Pemstar B.V.                                         Fluke Industrial B.V.
On its behalf,                                       On its behalf,

--------------------                                 --------------------
(Name of authorized person)                          (Name of authorized person)

Enclosures:

** the general conditions
** drawing of the leased space.

Initials Lessor:                                                Initials Lessee:

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GENERAL CONDITIONS FOR LEASING OFFICE SPACE and other business premises not
under section 7A:1624 CC
According to the standard text decided upon by the Raad voor Onrverende Zaken
(Council for Real Est2te deposited on 29 FebrU2rV 19%, Una;-r registration
number 34/19% with the Clerk of the Court in the Hague. The Council is not
liable for any adverse consequences of the use of the standard text. The purpose
of the hUdings above the articles in these General Conditions is only to improve
their readability. The content and import of the C12USe covered by the heading
is therefore not limited to such heading.
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The Leased Premises
1.1 The Leased Premises include the installations and facilities which are
present, in as much as these are not excluded in the certified description
accompanying the lease.
1.2 The Leased Premises will be made available for occupation and accepted in
the state outlined in the certified description accompanying the lease or, in
the absence of such a description, in the state at the commencement of the
lease, in a good state without faults.

Use
2.1 The Lessee will make actual and proper use of the Leased Premises himself
during the entire term of the lease, exclusively for the purpose stipulated in
the lease. He shall in doing so observe existing limited rights and requirements
which have been or may be made by government authorities or public utility
companies. He shall provide the Leased Premises with sufficient furniture and
fixtures and keep the same so provided.
2.2 The Lessee shall act in accordance with the law and local regulations and in
accordance with accepted practice as regards leasing, with regulations issued by
the authorities, public utility companies, the insurers and, if applicable, with
the regulations of the agency responsible for the sprinkler system and the
"Sighting Nederkznds Instituut voor Lifttechniek" and other competent
authorities to issue the necessary certificates. The Lessee shall also observe
the instructions given in writing or by word of mouth by or on behalf of the
Lessor in the interests of the proper use of the Leased Premises and of the
inside and outside areas, the installations and fixtures in the building or
complex which the Leased Premises are part of. This shall include instructions
regarding the maintenance, appearance, noise level, public order, fire
protection, parking and the correct operation of the installations and the
building or the complex which the Leased Premises are part of.
2.3 The Lessee may not create any nuisance or cause any inconvenience when using
the Leased Premises or the building or the complex of which the Leased Premises
form a part and will ensure that any third party present on his behalf do
likewise.
2.4 The Lessor has the right and the duty to use the common facilities and
services which are or will be available in the interest of the proper
functioning of the complex which the Leased Premises are part of.

Licenses
2.5.1 The Lessee shall obtain the licenses and/or exemptions required to carry
on the business for which the Leased Premises are intended. Refusal or
suspension of the same shall not give cause for cancelling or annulling the
lease or for undertaking any other action against the Lessor.
2.5.2 If alterations or improvements to the Leased Premises are necessary in
connection with 2.5.1, whether or not as a result of regulations issued by
authorities, it is the Lessee's responsibility (without prejudice to the
conditions in 2.6 and 2. 10) to ensure that the activities to that purpose are
carried out in accordance with the requirements made or

                                      -1-

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to be made by the authorities and that any necessary licences are obtained,
while the costs of the alterations or improvements will be met by the Lessee.

Environment
2.6.1 If upon commencement or during the term of the lease an environmental
investigation is started with respect to the Leased Premises and afterwards
during the term of the lease or immediately upon termination of the lease - in a
similar investigation -the concentrations of one or more substances found on,
in, at or around the Leased Premises are higher than those of the earlier
investigation, the Lessee shall compensate the damage arising from the
contamination and he shall be liable to the Lessor for expenses relating to the
removal of such contamination or for the taking of actions. The Lessee shall
indemnify the Lessor against claims of third parties, including government
agencies.
2.6.2 The provision of 2.6.1 is not applicable if the Lessee shows
that the contamination has neither been caused by any fault or negligence of
himself, his personnel or persons or objects under his supervision, nor by any
circumstances which can be imputed to the Lessee.
2.6.3 The Lessor shall not indemnify the Lessee against (government) orders for
further investigation or the taking of actions.

Waste products/chemical waste
2.7 Where directives or regulations by the government or other competent
authorities are applicable to the (differentiated) presentation of waste
products, the Lessee shall continuously and carefully observe the same. In case
of non-observance or incomplete observance of this obligation the Lessee shall
be liable for any resulting financial, criminal and possibly other consequences.

Advertisements
2.8 Where the Leased Premises are part of a building or complex, the Lessor
shall have the right to make use of the roofs, outer walls, gardens and grounds
of that building or complex for (illuminated) advertisements, signs and the
like, both for his own benefit and for the benefit of the Lessee or any third
party.
In exercising this right, the Lessor will take account of the Lessee's
interests.

Apartment titles (Apparrementsrecht)
2.9.1 If the building, or the complex of which the Leased Premises are part, is
or is to be subdivided into apartment titles, the Lessee will be required to
observe the regulations arising from the property division agreement and rules
governing their use. The same applies if the building or complex of buildings is
or becomes the property of a cooperative.
2.9.2 Insofar as this is within his power, the Lessor shall not assist in the
formulation of regulations which are in conflict with the lease.
2.9.3 The Lessor will ensure that the Lessee is provided with the regulations
regarding use as referred to in 2.9. 1.

Prohibitions and regulations regarding Public Order
2.10.1 The Lessee is not permitted:
b.   to have environmentally hazardous materials, including malodorous,
     inflammable or explosive substances, in, on, attached to or in the
     immediate vicinity of the Leased Premises, unless such materials are part
     of the normal carrying on of a profession or business;
c.   to burden floors of the Leased Premises or the building or complex of which
     the Leased Premises form a part more than is technically permissible or
     specified in the lease;

                                      -2-

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d.  to make such use of the Leased Premises that as a result of this use the
    soil or environment becomes polluted, the Leased Premises suffer damage, or
    the appearance of the Leased Premises is adversely affected, which is
    understood to include the use of vehicles as a result of which the floors
    may be damaged;

e.  to make any alterations or additions in, on or to the Leased Premises which
    are in conflict with regulations of the authorities and of public utility
    companies or with the conditions under which the owner of the Leased
    Premises acquired ownership of the Leased Premises or with any other
    limited rights, or to make alterations or additions which create a nuisance
    for other Lessees or the neighbours or hinder them in their use.

2.10.2 Without the Lessor's prior written permission the Lessee shall not be
permitted:
a.  to make alterations or additions in, on or to the Leased Premises , which
    shall include making holes in the outer walls;
b.  to affix or have in, on, or to the Leased Premises or in the immediate
    vicinity, any objects, including name boards, advertisements, bill boards,
    announcements, publications, buildings, wooden structures, scaffolding,
    packing materials, goods, vending machines, lighting, awnings, aerials with
    fittings, flag poles, etc., or to render windowpanes opaque;
c.  to enter or allow others to enter the service and installation areas, roof
    terraces, roofs and drains and the areas and places not reserved for general
    use in the Leased Premises or the complex of which the Leased Premises form
    a part, unless for work which the Lessee is required to carry out under this
    agreement.
d.  to park vehicles in places other than those appropriated for this purpose.
2.10.3 The Lessor shall not be liable in any way whatsoever for any alterations
or additions referred to in 2.10.2(a) and (b).
2.10.4 The Lessee shall keep fire fighting equipment and fire exits in the
Leased Premises free and clear at all times.,
2.10.5 If the Leased Premises include a lift, rolling carpet, escalator or
automatic door mechanism, or if the Leased Premises can be reached by one or
more of the said facilities, the use of such facilities shall be entirely at a
person's own risk. All regulations issued or to be issued by or on behalf of the
Lessor, the installer concerned or the authorities must be carefully observed.
If and for as long as this is necessary, the Lessor may put the said facilities
out of operation without the Lessee being entitled to any damages or a reduction
in rent.
2.10.6 Where objects installed by the Lessee (including advertisements or other
signs) must be removed temporarily, in connection with maintenance or repair
work to the Leased Premises, or the building or complex of which the Leased
Premises form part, the expenses or removal, possible storage and reinstallment
shall be at the Lessee's expense and risk, regardless of whether the Lessor has
given permission for the installations of the objects concerned.

Applicarions1permission
2.11.1 If the Lessee requires any deviation form and/or addition to any
provision of this agreement, the Lessee shall file his application for such
deviation of and/or addition in writing.
2.11.2 If and to the extent that any Provision of this agreement requires the
Lessor's permission, it shall only be deemed granted if given in writing.
2.11.3 Any permission granted by the Lessor shall be for one instance only and
shall not apply to other or subsequent cases. The Lessor shall be entitled to
make his permission conditional.

                                      -3-

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Subletting
3.1 Subject to the Lessee's prior permission, the Lessee shall not be permitted
to relinquish all or part of the Leased Premises to any third party letting,
subletting or allowing the use of the same, or by transferring the rights of
lease in whole or in part to any third party or by bringing these rights into a
partnership, or al legal entity.
3.2 In the event that the Lessee acts in breach of the above provision he will
forfeit to the Lessor for every calendar day that the breach continues an
immediately payable fine, equal to two times the then current daily rent payable
by the Lessee, without prejudice to the Lessor's right to demand compliance or
cancellation, as well as damages.

Rent Adjustment
4.1 Any adjustment of the rent as agreed in 4.3 of the lease will occur on the
basis of the revisions of the monthly index figure according to the consumer's
price index (CP) series CPl Employees Low (1990 = 100), as published by the
Central Bureau of Statistics (CBS).
The adjusted rent will be calculated according to the following formula: the
adjusted rent is equal to the current rent on the adjustment date, multiplied by
the index figure of the calendar month which lies four calendar months before
the calendar month in which the rent is adjusted, divided by the index figure of
the calendar month which lies sixteen calendar months before the calendar month
in which the rent is adjusted.
4.2 The rent will not be adjusted if such adjustment would lead to a lower rent
than the most recent rent. In that case that most recent rent shall remain
unchanged, until at a next indexing the index figure of the calendar month,
which lies four calendar months before the calendar month in which the rent is
adjusted, is higher than the index figure of the calendar month, which lies four
calendar months before the calendar month in which the last rent adjustment
occurred. At that time the index figures of the calendar months referred to in
the previous sentence shall be used in that adjustment.
4.3 The adjusted rent will come into force even if the Lessee is not informed of
this.
4.4 If the CBS discontinues publication of the said consumer index figure or if
the basis of the calculation is changed, an index figure adjusted to this or as
similar to this as possible will be used. In the event of any dispute in this
regard, the party who takes action first may request a statement from the
director of the CBS which will be binding on all parties. Each party will pay
half of any costs arising from this.

End of Lease or Use
5.1 Subject to any statutory right the Lessee shall at the end of the lease, or
on termination of the use, deliver the Leased Premises to the Lessor in the
original state, as set out in the certified description drawn up at the
commencement of the lease as referred to in 1.2 and, in the absence of such
description, in a good state, entirely vacated, free of use or rights to use and
properly cleaned and return all keys, keycards and the like to the Lessor. The
Lessee shall remove at his own expense all objects added to the Leased Premises
or acquired by him from the previous Lessee or user. The Lessor shall not be
required to pay any sum for objects that are not removed.
5.2 If the Lessee has terminated the use of the Leased Premises, whether or not
in due time, without returning the keys to the Lessor, the Lessor shall be
entitled to consider the lease to have expired, to gain access to the Leased
Premises at the Lessee's expense and to take possession of it, without the
Lessee having any right to damages or any other rights.
5.3 Any objects which the Lessee may be deemed to have abandoned by leaving them
in the Leased Premises on actually vacating the Leased Premises may be removed
at the expense of the Lessee by the Lessor, at the latter's discretion and
without any liability on his account, unless the Lessor has been informed that
the subsequent lessee has taken over the objects.
5.4 The parties shall inspect the Leased Premises together in good time before
the end of the lease or the use of it. The parties shall make a report of this
inspection, in which they shall record their findings. This report will also set

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out which work 1r, respect or repairs which appeared to be necessary at the time
of the inspection and the established outstanding maintenance for which the
Lessee is required to meet the costs, must still be carried out at the Lessee's
expense and in what way this must be done.
5.5 If the Lessee does not cooperate in the inspection and/or in the recording
of the findings and agreements in the inspection report within a reasonable
period, after having been duly given the opportunity to that effect, the Lessor
shall have the right to carry out the inspection without the Lessee being
present and to determine the report to be binding on both parties. The Lessor
shall giver the Lessee a copy of the report without delay.
5.6 The Lessee shall carry out or cause the carrying out of the repairs he is
required to carry out on the basis of the inspection report within the term
specified in the report - or to be further agreed by the parties - to the
satisfaction of the Lessor. If the Lessee, after having been given notice of
default, fails completely or party to fulfil the obligations arising from the
report, the Lessor shall have the right to have the relevant work carried out
himself and to recover the consequential costs from the Lessee.
5.7 For the period required to carry out the repairs, calculated from the date
of termination of the lease, the Lessee will be in debt to the Lessor for a sum
calculated on the basis of the most recent rent and additional supplies and
services, without prejudice to the Lessor's claim for compensation four further
damages and costs.

Damage
6.1 The Lessee shall take appropriate steps in due time to prevent and limit
damage to the Leased Premises, such as damage caused by short circuits, fire,
leakage, storms, frost and any other weather condition, the inward or outward
flow of liquids and gases. The Lessee shall inform the Lessor immediately if
such damage or an event such as referred to in 6.5 occurs or seems likely to
occur.
6.2 If the Lessee has the possibility to do so, the foregoing shall also apply
to the building or complex of which the Leased Premises form part.
6.3 The Lessee shall be responsible to the Lessor for any damage and loss to the
Leased Premises, unless the Lessee proves that he, the persons he has admitted
to the Leased Premises, his staff or the persons for whom he is responsible are
not to blame or that negligence cannot be held against him in that respect.
6.4 The Lessee shall indemnify the Lessor against penalties which are imposed on
the Lessor for actions or negligence of the Lessee.
6.5 The Lessor shall not be liable for any damage done to the person or goods of
the Lessee or of third parties - and the Lessee shall indemnify the Lessor
against liability for claims from third parties in this respect - due to the
emergence and the consequences of visible and invisible faults in the Leased
Premises or the complex of which the Leased Premises form part, or which arise
due to the occurrence of weather conditions, impediments to the accessibility of
the Leased Premises, impediments to the supply of gas, water, electricity,
heating, ventilation or air conditioning, due to faults in the installations and
apparatuses, due to the inward and outward flow of liquids and gases, due to
fire, explosion and other occurrences, due to disruption of the benefits of
leasehold or due to disruption or faults in supplies or services, all of which
to the exception of cases of damage resulting from gross faults or serious
negligence on the part of the Lessor in respect of the state of repair of the
Leased Premises or of the building or complex of which the Leased Premises form
a part.
6.6 The Lessor shall not be responsible for the Lessee's loss in trade resulting
from the activities of other lessees or obstructions to the use of the Leased
Premises caused by third parties, except in the event Of gross fault or serious
negligence of the Lessor in that respect.

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Interim Termination, Default
7.1 If the Lessee
- does not pay the sums due by him at the specified times;
- ceases to practise his profession or carry on his business wholly or for al
  large part in the Leased Premises;
- does not comply with any other condition of the lease;
- does not heed any condition attached to permission given by the Lessor;
- loses power to dispose of his capital or a part of it;
- loses his status as a legal entity, is wound up or in actual fact is
  liquidated, provided that the Lessee is not a natural person;
- is declared to be bankrupt;
- offers a settlement in lieu of bankruptcy, or if the goods of the Lessee are
  attached;
- dies;
the Lessor shall have the right to terminate the lease prematurely. This shall
only be preceded by a notice if the law so requires.
7.2 If any specified period of payment should lapse or if any situation as
mentioned above should arise, the Lessee will be in default as a consequence.
7.3 The Lessee shall compensate the Lessor for a damage, costs and interests as
a result of a situation as mentioned in 7.1 and as a result of premature
termination of the lease, even in the event that he is granted a moratorium of
payments or is declared bankrupt.
This damage shall include in any case the rent, the expenses for additional
supplies and services, including heating costs, V.A.T and the other amounts due,
the costs of reletting the Leased Premises as well as all costs incurred by the
Lessor in actions in and out of court, including those for legal assistance with
regard to a situation as referred to in 7.1
7.4 The provisions of 7.1 to and including 7.3 shall not exclude the Lessor's
right to exercise his other rights, including his right to demand payment or
performance with damages.

Bank Guarantee
8.1 As security for the correct fulfilment of his obligations arising from the
lease, the Lessee shall present the Lessor with a bank guarantee at the signing
of the lease according to a specimen indicated by the Lessor, for an amount to
be specified in the lease and related to the Lessee's payment obligations to the
Lessor, increased by the applicable V.A.T. This bank guarantee shall also apply
to extensions of the lease including amendments to it and shall remain valid
until six months after the date on which the Leased Premises are actually
vacated and the lease is terminated. This bank guarantee shall in addition apply
to the Lessor's assigns.
8.2 The Lessee may not demand a settlement for any amount against the bank
guarantee.
8.3 In the event that a claim is made against the bank guarantee, the Lessee
shall at the Lessor's first request arrange for an new bank guarantee which
meets the requirement stated in 8.1 and 8.4, for the full sum.
8.4 After an upward adjustment of the rent, of the expenses for supplies and
services or of the advance payments for these, the Less" shall take immediate
steps to ensure that a new bank guarantee is issued for a sum adjusted to the
new payment obligations.
8.5 If the Lessee does not fulfil his obligations as set out in this clause, he
shall forfeit to the Lessor for every breach an immediately payable fine of NLG
500.00 per calendar day he remains in default after he has been informed of his
omission by registered letter.

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Maintenance and Preservation
At the Lessor's expense
9.1 Unless it concerns work which may be considered to be of a limited nature
and day-to-day repairs as referred to in the law (section 7A: 1619 Dutch Civil
Code) or work on objects which are not installed by or on behalf of the Lessor,
the following shall be at the expense of the Lessor:
a.  maintenance, repair and renovation of structural parts of the Leased
    Premises, such as foundations, pillars, beams, concrete floors, roofs,
    terraces, structural walls, outer walls;
b.  maintenance, repairs and renovation of staircases, stairs, sewers, drains,
    gutters, outer casings of windows and doors, and the like. In respect of
    sewers the condition set out in 9.2.4 shall remain in full force;
c.  replacement of parts and renovation of installations such as lifts, central
    heating installations and fire hydrant boosters;
d.  exterior paint work.

At the Lessee's expense 9.2.1 All other maintenance, repairs and renovations
such as the following shall be at the expense of the Lessee:
a.  exterior maintenance if and insofar as it concerns work which must be
    considered to be of a limited nature and day-to- day maintenance in terms
    of the law (section 7A: 1619 Dutch Civil Code), as well as interior
    maintenance which does not include maintenance as referred to in 9.1
    without prejudice to the further conditions hereof;
b.  maintenance, repair and renovation of hinges and locks, plate glass, window
    glass and other glass, both inside and out;
c.  maintenance, repair and renovation of roller blinds, Venetian blinds,
    awnings and other blinds;
d.  maintenance, repair and renovation of switches, sockets, doorbell systems,
    light bulbs, lighting (including fittings), carpeting, upholstery, interior
    paint work, sinks, toilet facilities;
e.  maintenance, repair and renovation of pipes and taps of gas, water,
    electricity from the metre or main tap with all appurtenances, subject to
    renovation for normal wear;
f.  maintenance, repair and renovation of fences as well as maintenance of
    gardens and maintenance of the grounds;
g.  daily maintenance and repair (and renovation of small parts) of the
    technical installations of the Leased Premises.
9.2.2 The Lessee shall pay for maintenance, repair and renovation of objects
which have been or will be installed by or on behalf of the Lessee under an
approximate estimate made available to him by the Lessor.
9.2.3 The Lessee shall furthermore pay for the care for cleaning the Leased
Premises and keeping the same clean, both inside and out, which shall include
the cleaning of windows, window frames and outer walls of the Leased Premises.
9.2.4 In addition the Lessee shall be responsible for the emptying of grease
traps, the cleaning and unblocking of cesspits, gutters and all drains/sewers of
the Leased Premises up to the municipal main sewers, the sweeping of chimneys
and the cleaning of ventilation ducts.
9.3 If the Lessee fails to carry out maintenance, repairs or renovations at his
own expense after being reminded - or if these are carried out badly or
injudiciously in the opinion of the Lessor - the Lessor shall be entitled to
carry out this work or have it carried out at the expense and risk of the
Lessee.
if the work to be carried out at the expense of the Lessee can brook no delay,
the Lessor shall be entitled to carry out this work or to have it carried out at
the Lessee's expense.
9.4 In the event of maintenance, repair and renovation work to be carried out by
the Lessor, the Lessor will consult with the Lessee in advance in which case the
latter interests may be taken into consideration where possible. Extra costs for
work to be carried out at the Lessee's request outside normal working hours,
shall be at the Lessee's expense.

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9.5 The Lessee shall be responsible for the proper and competent use and
maintenance of the Leased Premises including the technical installations in the
Leased Premises. The Lessee shall at his own expense and risk conclude service
contracts. Service contracts for the installations shall be approved in advance
by the Lessor. As far as the maintenance is concerned the above conditions shall
apply except and to the extent that 12.2 is applicable.
9.6 The Lessee shall notify the Lessor immediately in writing of any faults to
the Leased Premises.
9.7 If the Lessee an the Lessor have agreed that the objects which are at the
expense of the Lessee under this clause are not carried out on the instruction
of the Lessee but of the Lessor, the costs of the same shall be passed on by the
Lessor to the Lessee. The Lessor shall in a number of cases conclude maintenance
contracts for such purpose.

Adjustments
10. If the Lessor considers it necessary to carry out maintenance, repairs,
renewals, including extra facilities and alterations, renovations or other work
in, on or to the Leased Premises or the building or complex of which the Leased
Premises form part or on the adjoining properties, or to have such work carried
out, or if such work is necessary due to (environmental) requirements or
measures by the authorities or public utility companies, the Lessee shall permit
and suffer this work and these. measures and-the inconvenience, if any, without
being able to claim damages, reduction of his payment obligations or
cancellation of the lease, even if all of this lasts for longer than forty days,
without prejudice to the provisions of section 7A: 1589 Dutch Civil Code. In the
execution of the work the Lessor shall take account of the Lessee's interests
where possible.

Access of the Lessor
11.1 If the Lessor wants (to have) an assessment of the Leased Premises, or
wants to carry out the work as referred to in 2.6, 5, 9.3 or 10, the Lessee
shall give the Lessor, or the person who will report to the Lessee for this
purpose, access to the Leased Premises and enable the latter to carry out the
necessary work.
11.2 For the purpose of 11.1 the Lessor and all persons designated by him shall
be entitled to enter the Leased Premises after consultation with the Lessee on
working days between 7.00 a.m. and 5.30 p.m. The Lessor shall be entitled to
enter the Leased Premises in cases of emergency without consultation and where
necessary outside the specified times.
11.3 In the event of the intended sale or auction of the Leased Premises and
after termination of the lease, the Lessee shall, after prior notice by le
Lessor or his attorney, without compensation, provide an opportunity for
inspection of the Leased Premises during at least two working days every week.
He will permit the usual notices or posters "To Let" or "For Sale" on or near
the Leased Premises.

Costs of Supplies and Services
12.1 In addition to the rent, the Lessee will meet the costs incurred for the
use of water and electricity for the Leased Premises, including the costs for
concluding an agreement for the supply and for the hiring of a meter, as well as
any other costs and penalties charged by public utility companies. T"he Lessee
shall himself conclude the agreements for supplies with the institutions
involved, unless the Leased Premises have no separate connections and the Lessor
sees to these matters as pan of the agreed supplies and services.

12.2 If the parties have agreed on additional supplies and services to be
rendered by the Lessor, the Lessor will determine the sum payable by the Lessee
on the basis of the costs arising from the supplies and services and the
accompanying administrative tasks. This also applies to technical installations
and other supplies and services. If the Leased Premises form part of a building
or a complex and the supplies or services also relate to other pans of the same,
the Lessor shall determine a reasonable sum payable by the Lessee for the
Lessee's share of the cost of such supplies

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and services. The Lessor need not take account of the fact that the Lessee may
not make use of one or more of these supplies or services. If one or more
sections of the building or the complex are not in use, the Lessor will ensure
when determining the Lessee's share that this share is not larger than it would
be if the entire building or complex were in use.
12.3 The Lessor shall render to the Lessee on an annual basis an itemised
statement of the cost of supplies and services, specifying the way in which
these have been calculated and the Lessee's share of the costs, where
applicable.
12.4 At the end of the lease a statement shall be provides for the period not
yet covered. This last statement shall be provided after expiry of a maximum of
14 months calculated from the period on which the previous statement was
provided. Neither the Lessee nor the Lessor shall claim early settlement.
12.5 If the statement on the period in question, taking account of advance
payments, shows any shortfall in payments by the Lessee or any excess receipts
by the Lessor, these will be paid or reimbursed within one month of the
statement being issued. Any disputes as to the correctness of the statement
shall provide no grounds for suspension of this obligation.
12.6 The Lessor has the right to alter or cancel the type and range of supplies
and services after consulting the Lessee.
12.7 The Lessor has the right to adjust the advance payments payable by the
Lessee of the expenses for supplies and services prematurely to the costs he
expects to incur, inter alia in an event as referred to in 12.6
12.8 In the event that heating and/or hot water are included in the supplies and
services, the Lessor may adjust the method of determining the consumption of
these and the Lessee's share in the cost of this consumption after consultation
with the Lessee.
12.9 If the consumption of heating and/or hot water is measured using meters and
a dispute arises regarding the Lessee's share in the costs of consumption as a
result of the failure of malfunctioning of these meters, this share shall be
determined by a company specialised in measuring and determining consumed
heating and/or warm water consulted by the Lessor. This shall also apply in case
of damage, destruction of fraud in relation to meters, without prejudice to any
other claims the Lessor may have against the Lessee in such a case, such as a
claim for repairs to or replacement of the meters and compensation for damage
suffered.
12.10 Save in the event of serious negligence or gross fault, the Lessor shall
not be liable for any damage as a result of the malfunctioning or improper
supply of the supplies and services referred to herein. Nor shall the Lessee be
able to claim rent reduction in such cases.

Costs
13. In all cases in which the Lessor has a warning notice, a notice of default
or a writ served on the Lessee, or in the case of actions against the Lessee to
coerce him to act in accordance with the lease or to evict him, the Lessee shall
be required to reimburse the Lessor for all costs incurred, both in and out of
court, except for legal costs payable by the Lessor by virtue of a final
decision by the court. Ile costs to be incurred will be set in advance by the
parties at an amount which shall not be less than the usual rate charged by
bailiffs.

Payments
14.1 The payment of rent and all amounts payable under this lease will be made
at the latest on the due date in legal Dutch tender - without any suspension,
discount, reduction, or settlement with a claim which the Lessee has, or has in
his opinion, against the Lessor - by payment or transfer to an account specified
by the Lessor. The Lessor shall be free to alter the place or manner in which
payment is to be made by giving the Lessee written notice to this effect. The
Lessor shall be entitled to determine the outstanding amount under the lease
from which payments received from the Lessee will be deducted, unless the Lessee
specifically states otherwise upon payment. In the latter case section 6:50 of
the Dutch Civil Code shall not be applicable.

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14.2 Every time when an amount owed by the Lessee by virtue of the lease is not
paid promptly on the due date, the Lessee will forfeit to the Lessor by
operation of the law as of the due date an immediately payable fine of 2 per
cent a month of the amount, owing with a minimum of NLG 250-00 per calendar
month, with each month after commencement counting as a full month,

Taxes, Expenses, Levies, Premiums etc.
15.1 If it has been agreed that V.A.T. will be charged on the rent, the Lessor
shall file an application as referred to in 5.2 of the lease to the inspection
in question.
15.2 If the application is not to be granted, the Lessee shall owe the Lessor an
amount over and above the rent corresponding with the amount of V.A.T. that
would have been payable had the application been granted. If an application is
granted with effect from al later date than requested, the Lessee shall owe the
Lessor an amount over and above the rent corresponding with the amount of V.A.T
as of the agreed commencement date up to the date of commencement of the taxed
rent.
15.3 If the Lessee shows the application was not granted or not granted on the
agreed date by the Lessor's action, the amount corresponding with the V.A.T as
referred to in 15.2, shall not be payable.

Other taxes, expenses, levies, premiunu etc.
15.4 The Lessee shall pay, even if the Lessor is assessed for the same:
a.  the real estate tax and the district water board charges or polder dues
    regarding the actual use of the Leased Premises and the actual joint use of
    service areas, general areas and areas in common use;
b.  other current or future taxes, sufferance dues, charges, levies and
    utilisation taxes with respect to the Leased Premises and property of the
    Lessee, except for the real estate tax and the district water board charges
    or polder dues in respect of the. enjoyment under a right in rem and except
    for the sewerage charges;
c.  environmental levies including surface water purification levies and
    charges for waste water purification and any other amounts on account of
    environmental protection.
15.5 If the Lessor or other lessees in the building or the complex are charged a
higher premium for fire insurance for the building or the inventory of the
Leased Premises or the complex of which the Leased Premises form part, as a
consequence of the nature of performance of the profession or business of the
Lessee, the Lessee shall reimburse the amount over and above the normal premium
to the Lessor or such other lessees. The Lessor and the other lessees shall be
free to choose their insurance company, to set the value insured and to assess
the reasonableness of the premium payable.
"Normal Premium" shall be understood to mean the premium the Lessor of the
Lessee may stipulate from any reputable insurer established in the Netherlands
for the insurance of the Leased Premises or his inventory and goods, against
fire risk at the time immediately preceding the conclusion of the lease, without
taking account of the nature of the business or profession to be carried on by
the Lessee in the Leased Premises, as well as - for the duration of the lease -
each adjustment of this premium, which does not result from any change of the
nature or extent of the risk insured.

Severability
16.1 If several (natural or legal) persons have committed themselves as Lessees,
they shall always be severally liable and each for the whole to the Lessor for
all commitments arising from the lease. Suspension of payments or discharge by
the Lessor to or of one of the Lessees or an offer to that effect, shall only
concern such Lessee.
16.2 The commitments arising from the lease are severable, also with respect to
the heirs and assigns of the Lessee.

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Untimely Availability
17.1 If the Leased Premises are not available on the agreed commencement date of
the lease, as a result of the fact that the Leased Premises are not ready on
time - not being due to the Lessee's request -, the previous user has not
vacated the Leased Premises on time or the Lessor has not yet obtained from the
authorities the licences for which he, the Lessee, is responsible, the Lessee
shall be exempt from payment of rent or expenses for additional supplies and
services until the date on which the Leased Premises are available to him and
his other obligations and the agreed terms of the lease will be postponed
accordingly. The price index date shall remain unchanged.
17.2 The Lessor shall not be liable for damage to the Lessee resulting from the
delay, unless serious negligence or gross fault can be imputed to him in this
respect. 17.3 The Lessee may not claim cancellation, unless the overdue delivery
is a result of premeditated action or negligence on the part of the Lessor, and
as a consequence leads to such a delay that the Lessee cannot reasonably be
expected to uphold the agreement without amendments.

Data Protection Act (Wet Persoonsregistratie)
18. If the Lessee is a natural person, the Lessee's personal data may have been
recorded by the Lessor and the administrator (if any) in a personal data file.

Domicile
19.1 From the commencement date of the lease all communications from the Lessor
to the Lessee relating to the fulfilment of this lease, shall be addressed to
the Leased Premises.
19.2 The Lessee shall immediately notify the Lessor if he no longer actually
carries on his business in the Leased Premises, stating his new domicile in the
Netherlands.
19.3 In the event that the Lessee should leave the Leased Premises without
giving the Lessor his new domicile in the Netherlands, the address of the Leased
Premises shall be the Lessee's domicile.

Complaints
20. The Lessee shall submit his complaints and requests in writing. In urgent
cases, he may do so by word of mouth. In such cases, the Lessee shall confirm
his complaint or request in writing as soon as possible.

Administrator

21. Where an administrator is or has been appointed by the Lessor, the Lessee
will consult the administrator in all matters relating to the lease.

Final Clause
22. Should any part of the lease or of these General Conditions be null or
voidable, this shall not affect the remaining parts of the lease and these
General Conditions. In stead of the annulled or null part, the agreements which
are nearest to what the parties would have agreed, had they known of the nullity
or voidance, shall be considered to be agreed.

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                       LEASE AGREEMENT FOR OFFICE PREMISES
                   and other business premises not pursuant to
                  section 7A:1624 of the Netherlands Civil Code

--------------------------------------------------------------------------------
in conformity with the standard provisions adopted by the Netherlands Real
Property Council in February 1996. This standard text may be referred to only if
the details which are filled in, or the supplementary or alternative text is or
are clearly recognisable as such. If possible, supplementary or alternative
provisions should be included in the `special provisions' section. The Real
Property Council rules out any liability for the detrimental consequences of the
use of these standard provisions.
--------------------------------------------------------------------------------

The undersigned:

Fortress Beheer I B.V. & Garden End Building B.V.,
of Rotterdam,
at no. 98, Haringvliet,
represented by
Messrs. J. Voerman and H. Hilders,
hereinafter referred to as: `the landlord';

and

Fluke Industrial B.V.
of Almelo
at no. 1, Lelyweg,
represented by Mr. P. van Schendel,
hereinafter referred to as: `the tenant';

have reached agreement as follows:

The premises, the designated purpose and use

1.1      The present lease agreement concerns the business or office premises
         measuring approx. 11,947 m2 in the CD complex, buildings no. 72 (in
         partial (use), 87 and 90, together with the relevant parcel of land,
         measuring approx. 26,000 m2, including parking space, hereinafter
         referred to as: `the premises' located at no. 1, Lelyweg in Almelo and
         sufficiently known to the parties, as well as the communal use of
         entrance-ways, on-site roads, outside grounds and cycle parking
         facilities.

Payment obligations and payment period

4.1      The tenant's payment obligations consist of:
         -        The lease instalment;
         -        The fee for the additional goods and services plus the
                  turnover tax payable thereon;
<PAGE>

         -        The turnover tax payable over the lease instalment or a sum
                  corresponding thereto, in conformity with and with due
                  observance of sections 15.2 and 15.3 of the General
                  Provisions, providing the parties have agreed that the lease
                  is liable to turnover tax.

4.2      The lease instalment for the office premises amounts to NLG
         1,050,000.00 (ONE MILLION AND FIFTY THOUSAND DUTCH GUILDERS, 0 cents)
         on an annual basis.

4.3      The lease instalment will be reviewed for the first time on 1 May 1999
         and thereafter on 1 May of each year, in conformity with sections 4.1
         and 4.2 of the General Provisions.

4.4      The fee for additional goods and services will be fixed in conformity
         with section 12 of the General Provisions. A system of advances, with
         retrospective adjustment, will be applicable to this fee, as described
         in that section. (N.a.)

4.5      The sums payable to the landlord by the tenant must be paid in advance
         in one lump sum for each consecutive payment period, as set out in 4.6
         below, and must have been paid in full on or before the first day of
         the period for which the payment is being made.

4.6      The sum payable for each payment period of one calendar month is:
         -        The lease instalment                 NLG 87,500.00
         -        The advance on the fee for the
                  additional goods and services
                  provided by or on behalf of the
                  landlord                                  n.a
                                                       -------------

                  Total                                NLG 87,500.00
                                                       =============

                  (SEVENTY-EIGHT THOUSAND, FIVE HUNDRED DUTCH GUILDERS, o
                  cents).
                  This sum is exclusive of turnover tax.

4.7      In view of the date on which the lease will commence, the first payment
         period is for the period of 1 May 1998 until 31 May 1998, and the sum
         payable for this period is NLG 87,500.00, not including turnover tax.
         The tenant shall arrange for this sum, together with the turnover tax
         payable thereon, to be paid on or before 1 May 1998.

Turnover Tax

5.1      All the sums referred to in this agreement are exclusive of turnover
         tax. The tenant is required to pay turnover tax over the fee for
         additional goods and services, and, if the lease is liable to turnover
         tax, this also applies to the lease instalment. The landlord shall
         charge the tenant turnover tax, and the tenant must pay this together
         with the lease instalment, the fee for the additional goods and
         services or the advance thereon.
<PAGE>

5.2      The parties have agreed that the landlord will charge the tenant
         turnover tax over the lease instalment.

5.3      On 29 December 1995, the upper and lower houses of the Dutch Parliament
         [Staten-Generaal] approved a bill to combat turnover tax evasion on
         real property transactions. As a result of the amendments to be made to
         the 1968 Turnover Tax Act, which is currently applicable, article 5
         must be supplemented as follows:

5.4      The tenant declares that he intends to use the premises for a purpose
         for which he qualifies for the right to deduct turnover tax (in full or
         almost in full - for at least 90%). The tenant therefore declares that
         he is entitled to deduct the turnover tax payable on the lease
         instalment in full or almost in full.

5.5      The tenant is required to notify the landlord immediately if he can no
         longer deduct the turnover tax payable over the lease instalments, in
         full or almost in full, for any reason whatsoever. The tenant must
         inform the landlord of any changes to his right to deduct turnover tax
         before these become effective.
         If the tenant fails to comply with this obligation to provide the
         landlord with information in this respect, and if it becomes clear in
         retrospect that the landlord has wrongly charged the tenant turnover
         tax over the lease rentals as a result, the tenant will be in default,
         and will be required to compensate the landlord a sum corresponding to
         the loss the landlord suffers, in response to the landlord's first
         request. This loss will specifically concern the full retrospective
         assessment or reviews of turnover tax payable by the landlord, as well
         as the relevant surcharges and interest, the administration costs which
         the landlord is required to incur for this reason, and any other costs
         payable in law as a result of the fact that the lease is no longer
         liable to turnover tax.

5.6      In the event that this may be necessary at any time in the future, the
         tenant hereby undertakes vis-a-vis the landlord, to pay the landlord or
         his successor in title the following, in addition to and simultaneously
         with the lease, if the premises are no longer used for performances
         liable to turnover tax:
         a.       a surcharge to compensate the turnover tax loss which the
                  landlord has suffered;
         b.       a compensation for the interest over the turnover tax to be
                  repaid by the landlord;
         c.       a compensation for the damage which the landlord suffers in
                  respect of the turnover tax payable over the maintenance
                  costs.

5.7      In addition to the above, the tenant is required to pay the landlord an
         annual sum equivalent to the turnover tax the landlord is required to
         pay third parties annually, to compensate the turnover tax loss on the
         operating costs of the premises, or the sum which must be reserved in
         connection 'inter alia' with any maintenance which was planned in the
         future.
         In the event of a lease exempt from turnover tax, the landlord is at
         liberty to increase the lease rental by a percentage to be fixed by him
         in reason and fairness, in consultation with the tenant.
<PAGE>

5.8      In the event of substitution in the manner provided for in law, the
         above provisions will be effective in full.

5.9      In respect of the above, the landlord is entitled to require the tenant
         to provide an accountant's statement every year.

Goods and services

6.       Reference is made to the service agreement between the building
         management and the tenant in respect of the goods and services to be
         supplied, on the details of which the parties must reach agreement. The
         goods and services the landlord is required to provide in respect of
         the buildings or the grounds, and on which the parties must reach
         agreement, include the following:
         -        The maintenance of grounds, gates and fences and grounds
                  lighting;
         -        Maintenance contracts for the technical facilities, including
                  o        Heating;
                  o        Cooling;
         -        Maintenance contracts for the infrastructure
                  o        Fire alarms
                  o        Fire doors
         -        Repairs to the infrastructure

Bank guarantee

7.       The parties have reached agreement that, in derogation of the
         provisions of article 8 of the General Provisions, the tenant will not
         provide a bank guarantee. Instead, the Fluke Corporation, as the
         tenant's parent company, will act as guarantor for the tenant's
         compliance with its obligations arising from the present agreement.

Building management

8.       Until the landlord gives notice of the contrary, Johnson Control-IFM
         shall act as building manager.

Special provisions

9.1      The tenant is authorized to sub-let the premises to third parties
         without requiring the landlord's explicit permission.

9.2      The premises are being made available together with parking facilities.
         130 new parking spaces and access roads are being constructed for
         Fluke's exclusive use on the grounds south of CD-90. Gates and fences
         will be re-located or constructed, and cycle parking facilities will be
         created at the landlord's instructions, as indicated on the enclosed
         plan.

         50 extra parking spaces are being constructed east of Lelyweg on the
         Philips grounds. Together with the existing parking facilities, these
         extra spaces are intended for the joint
<PAGE>

         use of AXR, PBF, IES/Johnson and for the Fluke staff overflow. Philips
         will guarantee these 50 parking spaces in a separate agreement.

         The construction of the above parking facilities will not commence
         until the rezoning of a part of the present large parking area outside
         the gates makes this necessary, and will be effected for the landlord's
         account. The landlord and the tenant shall consult each other on this
         subject.
         If a new parking area is indeed constructed south of CD-90, the
         landlord will be responsible for re-locating the radiation measurement
         unit, either to the unused land north of CD-90 or onto the roof of CD.

9.3      The information set out in annex 4 in respect of the agreements on the
         composition of the substratum, which originated in the prior lease
         agreement between Philips and Fluke, will remain fully effective for
         the tenant.

9.4      The landlord is authorised to erect buildings on the unused ground
         indicted on the plan or to use these in any other way. The landlord
         will keep the tenant informed of and will consult him on this subject.

9.5      The landlord will arrange for outside access from CD-72 to the CD
         canteen as of the commencement date of the lease agreement, so that the
         tenant will have the full and uninterrupted enjoyment of the premises,
         including the exclusivity of the main entrance, at all times.

9.6      The annex includes an inventory, setting out the majority of the
         individual elements of the premises. Any other movable or immovable
         property on the premises not included on this inventory is the tenant's
         property, unless the landlord and the tenant agree otherwise.
9.7      The tenant is aware that the access road along the premises is the
         communal property of the landlord and Philips Electronics N.V. The
         latter two ill bear the costs of the structural maintenance of the road
         and of the underground infrastructure, including sewers. The
         obligations referred to in the General Provisions will be applicable to
         each party's property.

Thus drawn up and signed in triplicate.

Place                                          Place    Almelo
Date                                           Date     7/11/98
Fortress Beheer I B.V.
& Garden End Building B.V                      Fluke Industrial B.V.

        /s/ J. Voerman                                 /s/  P. van Schendel
J. Voerman                                     P. van Schendel
                                               (Tenant)

         /s/ H.G. Hilders
H.G. Hilders
(Landlord)<PAGE>

                                                                   EXHIBIT 10.24

                                  PEMSTAR INC.
                        2000 EMPLOYEE STOCK PURCHASE PLAN

                             ARTICLE I. INTRODUCTION

         Section 1.01 Purpose. The purpose of the Pemstar Inc. 2000 Employee
Stock Purchase Plan ("the Plan") is to provide employees of Pemstar, a Minnesota
corporation (the "Company"), with an opportunity to share in the ownership of
the Company by providing them with a convenient means for regular and systematic
purchases of the Company's Common Stock, $.01 par value, and thus, to develop a
stronger incentive to work for the continued success of the Company.

         Section 1.02 Rules of Interpretation. It is intended that the Plan be
an "employee stock purchase plan" as defined in Section 423(b) of the Internal
Revenue Code of 1986, as amended (the "Code"), and Treasury Regulations
promulgated thereunder. Accordingly, the Plan shall be interpreted and
administered in a manner consistent therewith if so approved. All Participants
in the Plan will have the same rights and privileges consistent with the
provisions of the Plan.

         Section 1.03 Definitions. For purposes of the Plan, the following terms
will have the meanings set forth below:

                  (a) "Acceleration Date" means the date of shareholder approval
         or approval by the Company's Board of Directors, if shareholder
         approval is not required, of (i) any consolidation or merger of the
         Company in which the Company is not the continuing or surviving
         corporations or pursuant to which Company Common Shares would be
         converted into cash, securities or other property, other than a merger
         of the Company in which shareholders of the Company immediately prior
         to the merger have the same proportionate share ownership in the
         surviving corporation immediately after the merger; (ii) any sale,
         exchange or other transfer (in one transaction or a series of related
         transactions) of all or substantially all of the assets of the Company;
         or (iii) any plan of liquidation or dissolution of the Company.

                  (b) "Affiliate" means any subsidiary corporation of the
         Company, as defined in Section 424 (f) of the Code, whether now or
         hereafter acquired or established.

                  (c) "Committee" means the committee described in Section
         10.01.

                  (d) "Company" means Pemstar Inc., a Minnesota corporation, any
         subsidiary of the Company and any successors to the Company by merger
         or consolidation as contemplated by Article XI herein.

                  (e) "Current Compensation" means all regular wage, salary and
         commission payments paid by the Company to a Participate in accordance
         with the terms of his or her employment, including bonus payments,
         overtime pay and all other forms of special compensation.

                  (f) "Fair Market Value" as of a given date means such value of
         the Common Shares which is equal to (i) the last sale price of the
         Common Shares as reported on the Nasdaq National Market on such date,
         if the Common Shares are then quoted on the Nasdaq National Market;
         (ii) the average of the closing representative bid and asked prices of
         the Common Shares as reported on the National Association of Securities
         Dealers Automated Quotation System ("Nasdaq") on such date, if the
         Common Shares are then quoted on Nasdaq; or (ii) the closing price of
         the Common Shares on such date on a national securities exchange, if
         the Common Shares are then quoted on a national securities exchange. If
         on a given date the Common Shares are not traded on
<PAGE>

         an established securities market, the Committee shall make a good faith
         attempt to satisfy the requirements of this Section 1.03(f) and in
         connection herewith shall take such action as it deems necessary or
         advisable.

                  (g) "Participant" means an Eligible Employee who is eligible
         to participate in the Plan under Section 2.01 and who has elected to
         participate in the Plan.

                  (h) "Participating Affiliate" means an Affiliate which has
         been designated by the Committee in advance of the Purchase period in
         question as a corporation whose Eligible Employees may participate in
         the Plan

                  (i) "Eligible Employee" means an employee of the Company or a
         Participating Affiliate who has completed 90 days of employment with
         the Company as of the first day of a Purchase Period, including an
         officer or director who is also an employee, but excluding employees
         whose customary employment is less than an average of 20 hours per
         week.

                  (j) "Plan" means the Pemstar Inc. 2000 Employee Stock Purchase
         Plan, as the same may be amended, the provisions of which are set forth
         herein.

                  (k) "Purchase Period" means a monthly period ending on the
         last Friday of each month, or the next business day if such Friday is
         not a business day.

                  (l) "Common Shares" means the Company's Common Stock, $.01 par
         value, as such Shares may be adjusted for changes in the Shares or the
         Company as contemplated by Article XI herein.

                  (m) "Share Purchase Account" means the account maintained on
         the books and records of the Company recording the amount received from
         each Participant through payroll deductions made under the Plan and
         from the Company through matching contributions.

                    ARTICLE II. ELIGIBILITY AND PARTICIPATION

         Section 2.01 Eligible Employees. All Eligible Employees shall be
eligible to participate in the Plan beginning on the first day of the first
Purchase Period to commence after such person becomes an Eligible Employee.
Subject to the provisions of Article VI, each such employee will continue to be
eligible to participate in the Plan so long as he or she remains an Eligible
Employee.

         Section 2.02 Election to Participate. An Eligible Employee may elect to
participate in the Plan for a given Purchase Period by filing with the Company,
in advance of the Purchase Period and in accordance with such terms and
conditions as the Committee in its sole discretion may impose, a form provided
by the Company for such purpose (which authorizes regular payroll deductions
from Current Compensation beginning with the first payday in the Purchase period
and continuing until the employee withdraws from the Plan or ceases to be
eligible to participate in the Plan.)

         Section 2.03 Limits on Shares Purchase. No employee shall be granted
any right to purchase Common Shares hereunder if such employee, immediately
after such a right to purchase is granted, would own, directly or indirectly,
within the meaning of Section 423(b)(3) and Section 424(d) of the Code, Common
Shares possessing 5% or more of the total combined voting power or value of all
the classes of the capital shares of the Company or of all Affiliates.

         Section 2.04 Voluntary Participation. Participation in the Plan on the
part of a Participant is voluntary and such participation is not a condition of
employment nor does participation in the Plan entitle a Participant to be
retained as an employee.

                                       2
<PAGE>

                    ARTICLE III. PAYROLL DEDUCTIONS, COMPANY
                    CONTRIBUTIONS AND SHARE PURCHASE ACCOUNT

         Section 3.01 Deduction from Pay. The form described in Section 2.02
will permit a Participant to elect payroll deductions of not less than 3% and
not more than 10% of such Participant's Current Compensation for each pay
period, subject to such other limitations as the Committee in its sole
discretion may impose.

         Section 3.02 Interest. No interest will be paid with respect to
contributions to a Participant's Share Purchase Account.

         Section 3.03 Credit to Account. Payroll deductions will be credited to
the Participant's Share Purchase Account on each payday.

         Section 3.04 Nature of Account. The Share Purchase Account is
established solely for accounting purposes, and all amounts credited to the
Share Purchase Account will remain part of the general assets of the Company or
the Participating Affiliate (as the case may be).

         Section 3.05 No Additional Contributions. A Participant may not make
any payment into the Share Purchase Account other than the payroll deductions
made pursuant to the Plan and may not change the level of participation during
any Purchase Period except that an employee who is on an approved leave of
absence may make cash payments to the Company in lieu of payroll deductions to
the extent necessary to maintain such Participant's participation at the level
of participation elected at the beginning of each Purchase Period.

                      ARTICLE IV. RIGHT TO PURCHASE SHARES

         Section 4.01 Number of Shares. Each Participant will have the right to
purchase on the last business day of the Purchase Period all, but not less than
all, of the largest number of whole or fractional Common Shares that can be
purchased at the price specified in Section 4.02 with the entire credit balance
in the Participant's Share Purchase Account, subject to the limitations that:

                  (a) in accordance with Section 423 of the Code, no more than
         10,000 Common Shares may be purchased under the Plan by any one
         Participant for a given Purchase Period; and

                  (b) in accordance with Section 423(b)(8) of the Code, no more
         than $25,000 in Fair Market Value (determined at the beginning of each
         Purchase Period) of Common Shares and other shares may be purchased
         under the Plan and all other employee share purchase plans (if any) of
         the Company and the Affiliates by any one Participant for any calendar
         year.

         Section 4.02 Purchase Price. The purchase price for any Purchase Period
shall be 85% of the Fair Market Value of the Common Shares on the last business
day of each Purchase Period, in each case rounded up to the next higher full
cent.

                          ARTICLE V. EXERCISE OF RIGHT

         Section 5.01 Purchase of Shares. On the last business day of a Purchase
Period, the entire credit balance in each Participant's Share Purchase Account
will be used to purchase the largest number of whole or fractional Common Shares
purchasable with such amount ( subject to the limitations of Section 4.01),
unless the Participant has filed with the Company, in advance of that date and
subject to such terms and conditions as the Committee in its sole discretion may
impose, a form provided by the Company which requests the distribution of the
entire credit balance in cash.

                                       3
<PAGE>

         Section 5.02 Notice of Acceleration Date. The Company shall use its
best efforts to notify each Participant in writing at least ten days prior to
any Acceleration Date that the then current Purchase Period will end on such
Acceleration Date.

                ARTICLE VI. WITHDRAWAL FROM PLAN: SALE OF SHARES

         Section 6.01 Voluntary Withdrawal. A Participant may, in accordance
with such terms and conditions as the Committee in its sole discretion may
impose, withdraw from the Plan and cease making payroll deductions by filing
with the Company a form provided for this purpose. In such event, the entire
credit balance in the Participant's Share Purchase Account will be paid to the
Participant in cash within 30 days. A Participant who withdraws from the Plan
will not be eligible to reenter the Plan until the beginning of the next
Purchase Period following the date of such withdrawal.

         Section 6.02 Death. Subject to such terms and conditions as the
Committee in its sole discretion may impose, upon the death of a Participant, no
further amounts shall be credited to the Participant's Share Purchase Account.
Thereafter, on the last business day of the Purchase Period during which such
Participant's death occurred and in accordance with Section 5.01, the entire
credit balance in such Participant's estate will be used to purchase Common
Shares, unless such participant has filed with the Company, in advance of that
day and subject to such terms and conditions as the Committee in its sole
discretion may impose, a form provided by the Company which elects to have the
entire credit balance in such Participant's Share Purchase Account distributed
in cash with 30 days after the end of the Purchase Period or at such earlier
time as the Committee in its sole discretion may decide. Each Participant,
however, may designate one or more beneficiaries who, upon death, are to receive
the Common Shares or the amount that otherwise would have been distributed or
paid to the Participant's estate and may change or revoke any such designation
from time to time. No such designation, change or revocation will be effective
unless made by the Participant in writing and filed with the Company during the
Participant's lifetime. Unless the Participant has otherwise specified the
beneficiary designation, the beneficiary or beneficiaries so designated will
become fixed as of the date of the death of the Participant so that, if a
beneficiary survives the Participant but dies before the receipt of the payment
due such beneficiary, the payment will be made to such beneficiary's estate.

         Section 6.03 Termination of Employment.

                  (a) Subject to such terms and conditions as the Committee in
         its sole discretion may impose, upon a Participant's normal or early
         retirement with the consent of the Company under any pension or
         retirement plan of the Company or Participating Affiliate, no further
         amounts shall be credited to the Participant's Share Purchase Account.
         Therefore, on the last business day of the Purchase Period during which
         such Participant's approved retirement occurred and in accordance with
         Section 5.01, the entire credit balance in such Participant's Share
         Purchase Account will be used to purchase Common Shares, unless such
         Participant has filed with the Company, in advance of that day and
         subject to such terms and conditions as the Committee in its sole
         discretion may impose, a form provided by the Company which elects to
         receive the entire credit balance in such Participant's Share Purchase
         Account in cash within 30 days after the end of the Purchase Period,
         provided that such Participant shall have no right to purchase Common
         Shares in the event that the last day of such a Purchase Period occurs
         more than one month following the termination of such Participant's
         employment with the Company by reason of such an approved retirement.

                  (b) In the event of any other termination of employment (other
         that death) with the Company or a Participating Affiliate,
         participation in the Plan will cease on the date the Participant ceases
         to be an Eligible Employee for any reason. In such event, the entire
         credit balance in such Participant's Share Purchase Account will be
         paid to the Participant in cash within 30 days. For purposes of this
         Section 6.03, a transfer of employment to any Affiliate, or a leave of
         absence which has been approved by the Committee, will not be deemed a
         termination of employment as an Eligible Employee.

                                       4
<PAGE>

                         ARTICLE VII. NONTRASFERABILITY

         Section 7.01 Nontransferable Right to Purchase. The right to purchase
Common Shares hereunder may not be assigned, transferred, pledged or
hypothecated (whether by operation of law or otherwise), except as provided in
Section 6.02, and will not be subject to execution, attachment or similar
process. Any attempted assignment, transfer, pledge, hypothecation or other
disposition or levy of attachment or similar process upon the right to purchase
will be null and void and without effect.

         Section 7.02 Nontransferable Account. Except as provided in Section
6.02, the amounts credited to a Share Purchase Account may not be assigned,
transferred, pledged or hypothecated in any way, and any attempted assignment,
transfer, pledge, hypothecation or other disposition of such amounts will be
null and void and without effect.

                        ARTICLE VIII. SHARE CERTIFICATES

         Section 8.01 Issuance of Purchased Shares. Promptly after the last day
of each Purchase Period and subject to such terms and conditions as the
Committee in its sole discretion may impose, the Company will cause the Common
Shares then purchased pursuant to Section 5.01 to be issued to or for the
benefit of the Participant and held in the Plan pursuant to Section 8.05.

         Section 8.02 Securities Laws. The Company shall not be required to
issue or deliver any certificate representing Common Shares prior to
registration under the Securities Act of 1933, as amended, or registration or
qualification under any state law if such registration is required. The Company
shall use its best efforts to accomplish such registration (if and to the extent
required) not later than a reasonable time following the Purchase Period, and
delivery of certificates may be deferred until such registration is
accomplished.

         Section 8.03 Completion of Purchase. A Participant shall have no
interest in the Common Shares purchased until a certificate representing the
same is issued to or for the benefit of the Participant.

         Section 8.04 Form of Ownership. The certificates representing Common
Shares issued under the Plan will be registered in the name of the Participant.

         Section 8.05 Delivery. Subject to such terms and conditions as the
Committee in its sole discretion may impose, by filing a form provided by the
Company for such purpose, a Participant may elect to have the Company cause to
be delivered to or for the benefit of the Participant, a certificate for the
number of whole Common Shares purchased pursuant to Section 5.01, and cash for
the number of fractional Common Shares. The election notice will be processed as
soon as practicable following receipt.

                    ARTICLE IX. EFFECTIVE DATE, AMENDMENT AND
                               TERMINATION OF PLAN

         Section 9.01 Effective Date. The Plan was approved by the Board of
Directors and shall be approved by the shareholders of the Company within twelve
(months) thereof. In the event that the Plan is not so approved by the
shareholders of the Company, for any reason, it shall then be of no force or
effect whatsoever, and no Common Shares shall be purchased hereunder and any and
all amounts credited to a Participant's Share Purchase Account for any Purchase
Period which commences prior to such shareholder approval shall be returned.

                                       5
<PAGE>

         Section 9.02 Plan Commencement. The initial Purchase Period under the
Plan will commence on the first day of the first Purchase Period designated by
the Committee, provided, however, that the first Purchase Period shall not
commence prior to August 1, 2000.

         Section 9.03 Powers of Board. The Board of Directors may amend or
discontinue the Plan at any time. No amendment or discontinuation of the Plan,
however, shall without shareholder approval be made that: (I) absent such
shareholder approval, would cause Rule 16b-3 under the Securities Exchange Act
of 1934, as amended (the "Act") to become unavailable with respect to the Plan,
(ii) requires shareholder approval under any rules or regulations of the
national Association of Securities Dealers, Inc. or any securities exchange that
are applicable to the Company, or (iii) permit the issuance of Common Shares
before payment therefor in full.

         Section 9.04 Automatic Termination. The Plan shall automatically
terminate when all of the Common Shares provided for in Section 10.03 have been
sold.

                            ARTICLE X. ADMINISTRATION

         Section 10.01 The Committee. The Plan shall be administrated by a
committee (the "Committee") o f two or more directors of the Company, none of
whom shall be officers or employees of the Company and all of whom shall be
"disinterested persons" with respect to the Plan within the meaning of Rule
16b-3 under the Act. The members of the Committee shall be appointed by and
serve at the pleasure of the Board of Directors.

         Section 10.02 Powers of Committee. Subject to the provisions of the
Plan, the Committee shall have full authority to administer the Plan, including
authority to interpret and construe any provision of the Plan, to establish
deadlines by which the various administrative forms must be received in order to
be effective, and to adopt such other rules and regulations for administering
the Plan as it may deem appropriate. The Committee shall have full and complete
authority to determine whether all or any part of the Common Shares acquired
pursuant to the Plan shall be subject to restrictions on the transferability
thereof any other restrictions affecting in any manner a Participant's rights
with respect thereto but any such restrictions shall be contained in the form by
which a Participant elects to participate in the Plan pursuant to Section 2.02.
Decisions of the Committee will be final and binding on all parties who have an
interest in the Plan.

         Section 10.03 Shares to be Sold. The Common Shares to be issued and
sold under the Plan shall be authorized but unissued shares. Except as provided
in Section 11.01, the aggregate number of Common Shares to be sold under the
Plan will not exceed 500,000 shares.

         Section 10.04 Notices. Notices to the Committee should be addressed as
follows:

                                  Pemstar Inc.
                            3535 Technology Drive NW
                           Rochester, Minnesota 55901
                       ARTICLE XI. ADJUSTMENT FOR CHANGES
                              IN SHARES OR COMPANY

         Section 11.01 Share Dividend or Reclassification. If the outstanding
Common Shares are increased, decreased, changed into or exchanged for a
different number or kind of securities of the Company, or shares of a different
par value or without par value, through reorganization, recapitalization,
reclassification, share dividend, share split, amendment to the Company's
Articles of Incorporation, reverse share split or otherwise, other than by a
sale of Common Stock by the Company, an appropriate adjustment shall be made in
the maximum numbers and kind of securities to be purchased under the Plan with a
corresponding adjustment in the purchase price to be paid therefor.

                                       6
<PAGE>

         Section 11.02 Merger or Consolidation. If the Company is merged into or
consolidated with one or more corporations during the term of the Plan,
appropriate adjustments will be made to give effect thereto on an equitable
basis in terms of issuance of shares of the corporation surviving the merger or
of the consolidated corporation, as the case may be.

                           ARTICLE XII. APPLICABLE LAW

         Rights to purchase Common Shares granted under the Plan shall be
construed and shall take effect in accordance with the laws of the State of
Minnesota.

                                       7

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