Document:

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                                                                   Exhibit 10.12

                         REGISTRATION RIGHTS AGREEMENT

     This Registration Rights Agreement (this "Agreement") is entered into as
of November 10, 1994, by and between Chase Brass Industries, Inc., a Delaware
corporation (the "Company"), Citicorp Venture Capital Ltd. ("CVC"), and Martin
V. ALonzo ("Alonzo") (collectively, the "Stockholders").

                              W I T N E S S E T H:
                              - - - - - - - - - -

     WHEREAS, the Company has agreed to grant certain registration rights to
the Stockholders with respect to the 1,504,752 shares of the Company's common
stock, par value $.01 per share (the "Common Stock"), currently held by the
Stockholders and the 4,100,079 shares of Common Stock issuable pursuant to
4,100,079 shares of the Company's nonvoting common stock, par value $.01 per
share (the "Nonvoting Common Stock"), currently held by CVC.

     NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows:

     1. DEFINITIONS.

        "COMMISSION" means the Securities and Exchange Commission or any other
Federal agency at the time administering the Securities Act.

        "DEMAND REGISTRATION" means the registration of a Registrable Security
pursuant to the terms and provisions of Section 2(a) hereunder.

        "EXCHANGE ACT" means the Securities Exchange Act of 1934, as amended, or
any similar Federal statute, and the rules and regulations of the Commission
thereunder, all as the same shall be in effect at the time. Reference to a
particular section of the Exchange Act shall include a reference to the
comparable section, if any, of any such similar Federal statute.

        "HOLDER" means CVC, Alonzo, and, subject to Section 10(f), any assignee
or transferee of a Registrable Security initially held by CVC or Alonzo, which
assignee or transferee expressly is granted rights as a Holder under this
Agreement by CVC and/or Alonzo at the time of such transfer.

        "INDEMNIFIED PARTY" means a party who is to be indemnified pursuant to
Section 7 hereof.

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     "INDEMNIFYING PARTY" means a party who shall indemnify an Indemnified Party
pursuant to Section 7 hereunder.

     "INSPECTORS" has the meaning set forth in Section 5(h) hereof.

     "PIGGY-BACK REGISTRATION" means the registration of a Registrable Security
pursuant to the terms and provisions of Section 3 hereunder.

     "PRO RATA BASIS" means a pro rata allocation based on the number of shares
of Common Stock requested to be included in a registered offering pursuant to
this Agreement.

     "RECORDS" has the meaning set forth in Section 5(h) hereof.

     "REGISTRABLE SECURITIES" means the shares of Common Stock currently held by
CVC and Alonzo and the shares of Common Stock issuable pursuant to the shares of
Nonvoting Common Stock held by CVC, and any and all securities of the Company
issued or issuable with respect to such shares by way of a dividend,
reclassification, stock split, or other distribution or in connection with a
combination of shares, recapitalization, merger, consolidation or other
reorganization or otherwise. Any Registrable Security will cease to be a
Registrable Security when (i) a registration statement covering such Registrable
Security has been declared effective by the Commission and the Registrable
Security has been disposed of pursuant to such effective registration statement,
(ii) the Registrable Security is sold under circumstances in which all of the
applicable conditions of Rule 144 (or any similar provisions then in force)
under the Securities Act are met or (iii) the Registrable Security has been
otherwise transferred, the Company has delivered a new certificate or other
evidence of ownership for it not bearing a legend restricting further transfer,
and it may be resold without subsequent registration under the Securities Act.

     "REGISTRATION EXPENSES" means those expenses associated with any
registration statement filed hereunder, as described in Section 6.

     "SECURITIES ACT" means the Securities Act of 1933, as amended, or any
similar Federal statute, and the rules and regulations of the Commission
thereunder, all as the same shall be in effect at the time. References to a
particular section of the Securities Act shall include a reference to the
comparable section, if any, of any such similar Federal statute.

     "SHELF REGISTRATION" means the registration of a Registrable Security
pursuant to the terms and provisions of Section 2(c) hereunder.

     "TERM" means that period of time as set forth in subsection 10(b).

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        "UNDERWRITER" means a securities dealer which purchases any Registrable
Securities as principal and not as part of such dealer's market-making
activities.

     2. DEMAND REGISTRATION.

            (a) REQUEST FOR REGISTRATION. At any time after 180 days after the
date hereof, CVC and/or Alonzo may make a written request ("DEMAND NOTICE") for
registration under the Securities Act (a "DEMAND REGISTRATION") of all or part
of their respective Registrable Securities. Each Demand Notice will specify the
number of shares of Registrable Securities proposed to be sold and will also
specify the intended method of disposition thereof. Within ten days after
receipt of each Demand Notice, the Company will give written notice of the
Company's receipt of such Demand Notice to all other Holders of Registrable
Securities who have rights under this Agreement, and such Holders will be given
the opportunity to participate in such Demand Registration. Subject to Section
2(d) hereof, the Company will include in such Demand Registration all
Registrable Securities with respect to which the Company has received written
requests for inclusion therein within ten days after the delivery to the
applicable Holders of the Company's notice. Each such Holder's request also will
specify the number of Registrable Securities to be registered and the intended
method of disposition thereof; PROVIDED, HOWEVER, that the Majority Demanding
Holder (as hereinafter defined) shall determine the type of offering with
respect to Registrable Securities included in that Demand Registration. In
addition, Demand Registrations shall be on such appropriate registration form of
the Commission as the Company shall determine.

            (b) LIMITATION ON DEMAND REGISTRATION. The Company shall not be
obligated to effect any more than two Demand Registrations on behalf of CVC or
one Demand Registration on behalf of Alonzo at any time during the Term when the
Company is not eligible to use a Form S-3 or Form S-2 registration statement
(or, in each case, any successor forms promulgated under the Securities Act) and
there shall be no limitation on the number of times that a Demand Registration
may be requested pursuant to this Section 2 at any time during the Term when the
Company is eligible to use a Form S-3 or Form S-2 registration statement (or, in
each case, any successor forms promulgated under the Securities Act).
Notwithstanding any provision of this Agreement to the contrary, the Company
shall not be obligated to honor any Demand Notice requesting a Demand
Registration, or otherwise cause a Demand Registration to become effective,
hereunder if:

                (i) the Demand Notice is delivered to the Company during the
period beginning 90 days before the effective date of a Demand Registration
(other than a Shelf Registration) that is being effected pursuant to a
previously delivered Demand Notice and in which such requesting Holders were
entitled to participate with respect to all Registrable Securities requested to
be included therein and ending (A) if such Demand Registration is an
underwritten offering, 180 days after the closing date of any such offering and
(B) if such

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Demand Registration is not an underwritten offering, 90 days after the closing
date of any such offering; or

                (ii) the Demand Notice is delivered to the Company during the
period commencing 90 days before the effective date of a registration statement
pursuant to which the Company is offering shares of any class of equity
securities of the Company in an underwritten offering and ending 120 days after
the closing date of any such offering.

     Notwithstanding the provisions of Section 2(a), no Holder (including CVC
and Alonzo) may request a Shelf Registration unless the total number of
securities to be included in the Shelf Registration shall constitute at least
(i) in the case of a request by Alonzo, or any assignee of Alonzo, 2% of the
outstanding Common Stock or (ii) in the case of CVC, or any assignee of CVC, 5%
of the outstanding Common Stock, in each case after giving effect to the full
conversion of all shares of Nonvoting Common Stock.

     (c) EFFECTIVE REGISTRATION AND EXPENSES. Upon receipt of a written request
for a Demand Registration, the Company will (i) take appropriate action, on a
reasonable, timely basis, to prepare and file a registration statement covering
the Shares requested to be included in such Demand Registration (subject to
Section 2(c) below) and (ii) use its best efforts to cause each Demand
Registration to become effective under the Securities Act and thereafter to keep
it effective under the Securities Act for a period of 120 days (subject to
extension pursuant to Section 5 hereof); PROVIDED, HOWEVER, that no Demand
Registration may become effective under the Securities Act until 180 days after
the date of this Agreement. A registration will not count as a Demand
Registration (i) unless a registration statement with respect thereto has become
effective (unless CVC and/or Alonzo withdraw the Registrable Securities, in
which case such demand will count as a Demand Registration unless CVC and/or
Alonzo agree to pay all Registration Expenses (as hereinafter defined)), (ii) if
after it has become effective, such registration is interfered with by any stop
order, injunction or other order or requirement of the Commission or other
governmental agency or court for any reason not attributable to CVC or Alonzo
and has not thereafter become effective, or (iii) if the conditions to closing
specified in the underwriting agreement, if any, entered into in connection with
such registration are not satisfied or waived, other than by reason of a failure
on the part of CVC and/or Alonzo. Except as set forth above, the Company will
pay all Registration Expenses in connection with any Demand Registration as set
forth in Section 6, whether or not it becomes effective.

     If any Demand Registration is requested to be a "shelf" registration
pursuant to Rule 415 (or any successor thereto) under the Securities Act ("SHELF
REGISTRATION") by the Majority Demanding Holder, the Company shall keep the
Registration Statement filed in respect thereof effective for a period of up to
270 days from the date on which the SEC declares such Registration Statement
effective (subject to extension pursuant to Section 5 hereof) or such shorter
period that will terminate when all Registrable Securities covered by such
Registration Statement have been sold pursuant to such Registration Statement.

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        (d) NO PIGGYBACK ON DEMAND REGISTRATIONS. Neither the Company nor any of
its respective securityholders (other than the Holders of Registrable Securities
in such capacity pursuant to Section 3 hereof) may include securities of the
Company in any Demand Registration without the prior written consent of the
Demanding Holder (as hereinafter defined) or, if more than one Demanding Holder,
the Majority Demanding Holder (as hereinafter defined), and the Company shall
not enter into any agreement providing any such right to any of its
securityholders.

        (e) PRIORITY ON DEMAND REGISTRATIONS. If the Holder(s) requesting a
Demand Registration ("DEMANDING HOLDER(S)") so requests (or if more than one
Demand Holder, if the Demanding Holders owning a majority of the Registrable
Securities requested to be included in the Demand Regulation by the Demanding
Holders so requests (the "MAJORITY DEMANDING HOLDERS")), the offering of
Registrable Securities pursuant to a Demand Registration shall be in the form of
an underwritten offering. Notwithstanding the foregoing, if the managing
Underwriter or Underwriters of such offering notify the Company that, in good
faith, they are able to proceed with the proposed offering only with respect to
a smaller number of shares of Registrable Securities proposed to be offered by
the Demanding Holder, then the Company will include in such registration the
total number of securities recommended by such managing Underwriter or
Underwriters, and such amount shall be allocated (i) first, subject to any
written agreement among the Demanding Holders, to and among the Demanding
Holders on a Pro Rata Basis and (ii) second, to and among the other Holders
requesting to participate in the Demand Registration pursuant to Section 3
hereof on a Pro Rata Basis.

        (f) SELECTION OF UNDERWRITERS. If a Demand Registration is in the form
of an underwritten offering, the Majority Demanding Holders shall select the
managing Underwriter or Underwriters to be used in connection with the offering;
PROVIDED, HOWEVER, that such Underwriter or Underwriters must be reasonably
satisfactory to the Company.

     3. PIGGY-BACK REGISTRATION.

        (a) REQUEST FOR REGISTRATION. At any time after the date hereof, if the
Company proposes to file a registration statement under the Securities Act
(other than a registration statement on Form S-4 or S-8 (or any successor form
that may be adopted by the Commission) or a registration statement filed in
connection with an exchange offer or offering of securities or debt solely to
the Company's existing security or debt holders) with respect to an offering of
any class of equity securities by the Company for its own account or for the
account of any of its security holders, then the Company shall give written
notice of such proposed filing to each Holder as soon as practicable (but in no
event less than 20 days before the anticipated filing date). Such notice shall
offer each Holder the opportunity to have all or any of the Registrable
Securities held by such Holder included in the registration statement proposed
to be filed or, at the Company's option, in a separate registration statement to
be filed concurrently with such registration statement (the "Piggy-back
Registration"). Within 10 days

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after receiving such notice, each Holder may make a written request to the
Company that any or all of the Holder's Registrable Securities be included in
the Piggy-back Registration, which notice shall specify the number of shares to
be so included. Subject to Section 3(b) hereof, the Company shall include in
the Piggy-back Registration (or in a separate registration statement filed
concurrently therewith) all Registrable Securities with respect to which the
Company has received written requests for inclusion therein within ten days
after the receipt by each Holder of the Company's notice. The Company may in
its discretion withdraw any registration statement filed pursuant to this
Section 3(a) subsequent to its filing without liability to the Holders except
with respect to expenses. Any Holder shall be permitted to withdraw all or part
of the Registrable Securities from a Piggy-back Registration at any time prior
to the effective date of such Piggy-back Registration.

            (b) PRIORITY ON PIGGY-BACK REGISTRATION. If any Piggy-Back
Registration is to be an underwritten offering, the Company shall use its best
efforts to cause the managing Underwriter or Underwriters to permit the shares
of Registrable Securities requested by the Holders of Registrable Securities
("SELLING PIGGY-BACK HOLDERS") to be included in the Piggy-back Registration (on
the same terms and conditions as similar securities of the Company included
therein to the extent appropriate). Notwithstanding the foregoing, if the
managing Underwriter or Underwriters of such offering notify the Company that,
in good faith, they are able to proceed with the proposed offering only with
respect to a smaller number of shares of Registrable Securities proposed to be
offered by the Selling Piggy-back Holders, then (i) if such Piggy-back
Registration is incident to a primary registration on behalf of the Company,
then the amount of securities to be included in the Piggy-back Registration for
any persons (other than the Company and the Selling Piggy-back Holders) shall
first be reduced, and thereafter the Registrable Securities to be offered for
the account of the Selling Piggy-Back Holders shall be reduced or limited,
subject to any written agreement among the Selling Piggy-back Holders, on a Pro
Rata Basis so that the total number of securities to be included in the offering
shall be the total number of securities recommended by such managing Underwriter
or Underwriters and (ii) if such Piggy-back Registration is incident to a
secondary registration on behalf of holders of securities of the Company
(including pursuant to Section 2 hereof), the Company shall include in such
registration statement (A) first, the number of securities of such person(s) on
whose behalf the registration is being made (allocated among such persons as
they may so determine, subject to Section 2(e), if applicable), (B) second, the
number of Registrable Securities requested to be included in such registration
pursuant to this Section 3 in excess of the securities such persons on whose
behalf the registration is being made propose to sell that, in the opinion of
such managing Underwriters, can be sold without materially and adversely
affecting such offering, allocated among the Selling Piggy back Holders, subject
to any written agreement among the Selling Piggy-back Holders on a Pro Rata
Basis, and (C) third, the number of securities requested to be included in such
registration by the Company or by other persons pursuant to similar piggy-back
registration rights (allocated among the Company and such persons as they may so
determine).

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     4. HOLDBACK AGREEMENTS.

            (a) RESTRICTIONS ON PUBLIC SALE BY HOLDER OF REGISTRABLE SECURITIES.
Upon inclusion by the Company of any Holder's Registrable Securities in a
registration statement filed pursuant to Sections 2 or 3 hereof, such Holder
agrees not to effect any public sale or distribution of the issue being
registered or a similar security of the Company or any securities convertible
into or exchangeable or exercisable for such securities, including a sale
pursuant to Rule 144 or Rule 144A under the Securities Act, during the 14 days
prior to, and during the 120 day period beginning on, the effective date of such
registration statement (except as part of such registration), if and to the
extent requested by the Company in the case of a non-underwritten public
offering or if and to the extent requested by the managing Underwriter or
Underwriters in the case of an underwritten public offering.

            (b) RESTRICTIONS ON PUBLIC SALE BY THE COMPANY. The Company agrees
(i) that it shall not effect any public or private sale or distribution of
securities of the nature of the Registrable Securities, or any securities
convertible into or exchangeable or exercisable for securities of the nature of
the Registrable Securities (except pursuant to a registration statement on Form
S-4 or S-8 or any successor form that may be adopted by the Commission), during
the 14 days prior to, and during the 120 day period beginning on, the effective
date of any Demand Registration statement other than a Shelf Registration and
(ii) that any agreement entered into after the date hereof pursuant to which the
Company agrees to issue any securities, the issuance of which is not registered
under the Securities Act, shall contain a provision under which holders of such
securities agree not to effect any public sale or distribution of any such
securities during the periods described in clause (i) above, including a sale
pursuant to Rule 144 or Rule 144A under the Securities Act; PROVIDED, HOWEVER,
that the provisions of this subsection (b) shall not prevent the grant of
options or similar rights to employees of the Company pursuant to the Company's
1994 Long-Term Incentive Plan.

     5. REGISTRATION PROCEDURES.

     Subject to the other provisions and limitations contained in this
Agreement, whenever any Holder has requested that any Registrable Securities be
registered pursuant to Sections 2 or 3 hereof, the Company will use its best
efforts to effect the registration and the sale of such Registrable Securities
in accordance with the intended method of disposition thereof as quickly as
practicable, and in connection with any such request, the Company will as
expeditiously as possible:

            (a) prepare and file with the Commission a registration statement on
        any form for which the Company then qualifies or which counsel for the
        Company shall deem appropriate and which form shall be available for the
        sale of the Registrable Securities to be registered thereunder in
        accordance with the intended method of distribution thereof, and use its
        best efforts to cause such filed registration statement to become
        effective under the Securities Act; PROVIDED, HOWEVER, that, (i) at
        least five days before

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        filing a registration statement or prospectus or as promptly as
        practicable prior to filing any amendments or supplements thereto, the
        Company will furnish to one counsel selected by the Holder or Holders of
        the Registrable Securities covered by such registration statement copies
        of all such documents proposed to be filed, which documents will be
        subject to the review of such counsel, and (ii) after the filing of the
        registration statement, the Company will promptly notify each such
        Holder and such counsel of comments received from, or any stop order
        issued or threatened by, the Commission and take all reasonable actions
        required to respond to such comments or, as the case may be, prevent the
        entry of such stop order or to remove it if it has been entered;

            (b)  prepare and file with the Commission such amendments and
        supplements to such registration statement and the prospectus used in
        connection therewith as may be necessary to keep such registration
        statement effective for the applicable period required by the terms
        hereof, which will terminate when all Registrable Securities covered by
        such registration statement have been sold or, in the case of Piggy-back
        Registrations pursuant to Section 3, for such time period as the Company
        shall determine in its sole discretion (but not before the expiration of
        the 90-day period referred to in subsection 4(3) of the Securities Act
        and Rule 174 thereunder, if applicable) and comply with the provisions
        of the Securities Act with respect to the disposition of all securities
        covered by such registration statement during such period in accordance
        with the intended methods of disposition as set forth in such
        registration statement;

            (c)  furnish to each Holder of Registrable Securities covered by
        such registration statement, prior to filing the registration statement,
        if requested, copies of such registration statement as proposed to be
        filed, and thereafter furnish to each such Holder such number of copies
        of such registration statement, each amendment and supplement thereto
        (in each case including all exhibits thereto and documents incorporated
        or deemed to be incorporated therein by reference), the prospectus
        included in such registration statement (including each preliminary
        prospectus), and such other documents as each such Holder may reasonably
        request in order to facilitate the disposition of the Registrable
        Securities owned by each such Holder;

            (d)  use its best efforts to register or qualify such Registrable
        Securities under such other securities or blue sky laws of such
        jurisdictions as each Holder of Registrable Securities covered by such
        registration statement reasonably (in light of each such Holder's
        intended plan of distribution) requests and do any and all other acts
        and things which may be reasonably necessary to enable each such Holder
        to consummate the disposition in such jurisdictions of the Registrable
        Securities owned by each such Holder and keep each such registration or
        qualification (or exemption therefrom) effective during the period such
        registration statement is effective; PROVIDED, HOWEVER, that the Company
        will not be required to (i) qualify generally to do business in any
        jurisdiction where it

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        would not otherwise be required to qualify but for this subsection, (ii)
        subject itself to taxation in any such jurisdiction, or (iii) consent to
        general service of process in any such jurisdiction;

            (e)  use its best to cause such Registrable Securities to be
        registered with or approved by such other governmental agencies or
        authorities as may be necessary by virtue of the business and operations
        of the Company to enable each Holder of Registrable Securities covered
        by the registration statement to consummate the disposition of such
        Registrable Securities; PROVIDED, HOWEVER, that the Company will not be
        required to (i) qualify generally to do business in any jurisdiction
        where it would not otherwise be required to qualify but for this
        subsection, (ii) subject itself to taxation in any such jurisdiction,
        or (iii) consent to general service of process in any such jurisdiction;

            (f)  at any time when a prospectus relating to Registrable
        Securities is required to be delivered under the Securities Act, (i)
        notify each Holder of Registrable Securities covered by the registration
        statement of the occurrence of an event requiring the preparation of a
        supplement or amendment to such prospectus, (ii) prepare and file such
        supplement, amendment or any other required document so that, as
        thereafter delivered to the purchasers of such Registrable Securities,
        such prospectus will not contain an untrue statement of a material fact
        or omit to state any material fact required to be stated therein or
        necessary to make the statements therein not misleading, and (iii)
        promptly make available to each such Holder any such supplement,
        amendment or other document;

            (g)  enter into and perform customary agreements (including an
        underwriting agreement in customary form with the managing Underwriter
        or Underwriters, if any), use its best efforts to obtain any necessary
        consents in connection with any proposed registration and sale of
        Registrable Securities, and take such other actions as are reasonably
        required in order to expedite or facilitate the disposition of such
        Registrable Securities;

            (h)  make available for inspection by each Holder of Registrable
        Securities covered by the registration statement, any Underwriter
        participating in any disposition pursuant to such registration
        statement, and any attorney, accountant, or other professional retained
        by any such Holder or such Underwriter (collectively, the "Inspectors"),
        all financial and other records, pertinent corporate documents, and
        properties of the Company (collectively, the "Records") as shall be
        reasonably necessary to enable them to exercise their due diligence
        responsibility, and cause the Company's officers, directors, and
        employees to supply all information reasonably requested by any such
        Inspectors in connection with such registration statement. Records
        which the Company determines, in good faith, to be confidential and
        which it notifies the Inspectors are confidential shall not be disclosed
        by the Inspectors unless (i) in the reasonable

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        judgment of counsel to the Company the disclosure of such Records is
        necessary to avoid or correct a misstatement or omission in such
        registration statement or (ii) the release of such Records is ordered
        pursuant to a subpoena or other order from a court of competent
        jurisdiction. Each Holder agrees that information obtained by him as a
        result of such inspections shall be deemed confidential and shall not be
        used by him as the basis for any market transactions in the securities
        of the Company unless and until such is made generally available to the
        public. Each Holder further agrees that he will, upon learning that
        disclosure of such Records is sought in a court of competent
        jurisdiction, give notice to the Company and allow the Company, at the
        Company's expense, to undertake appropriate action to prevent disclosure
        of the Records deemed confidential;

            (i) if such sale is pursuant to an underwritten offering, use its
        best efforts to obtain a comfort letter or comfort letters from the
        Company's independent public accountants in customary form and covering
        such matters of the type customarily covered by comfort letters as any
        Holder of Registrable Securities covered by the registration statement
        or the managing Underwriter or Underwriters may reasonably request;

            (j) otherwise use its best efforts to comply with all applicable
        rules and regulations of the Commission, and make available to its
        security holders as soon as reasonably practicable, an earnings
        statement covering a period of 12 months, beginning within three months
        after the effective date of the registration statement, which earnings
        statement shall satisfy the provisions of section (11)a of the
        Securities Act; and

            (k) if requested by the managing Underwriter or Underwriters, if
        any, or any Holder of Registrable Securities covered by the registration
        supplement in connection with an underwritten offering pursuant to
        Sections 2 or 3 hereof, (i) promptly incorporate in a prospectus
        supplement or post-effective amendment such information as the managing
        Underwriter or Underwriters, if any, and/or any such Holder reasonable
        requests to be included therein, as may be required by applicable laws
        and (ii) make all required filings of such prospectus supplement or such
        post-effective amendment as soon as practicable after the Company has
        received notification of the matters to be incorporated in such
        prospectus supplement or post-effective amendment; PROVIDED, HOWEVER,
        that the Company shall not be required to take any actions pursuant to
        Section 5(k) that are not, in the reasonable opinion of counsel for the
        Company, in compliance with applicable law; and

            (l) use its reasonable efforts to obtain the withdrawal of any
        order suspending the effectiveness of a registration statement filed
        in connection herewith, or the lifting of any suspension of the
        qualification (or exemption from qualification) of any of the
        Registrable Securities for sale in any jurisdiction, at the earliest
        possible moment;

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            (m)  cooperate with each Holder of Registrable Securities covered by
        the registration statement and the managing Underwriters, if any, to
        facilitate the timely preparation and delivery of certificates
        representing Registrable Securities to be sold, which certificates
        or notes shall not bear any restrictive legends and shall be in a form
        eligible for deposit with the transfer agent for the Common Stock; and
        enable such Registrable Securities to be in such denominations and
        registered in such names as the managing Underwriters, if any, or
        holders may request at least two business days prior to any sale of
        Registrable Securities;

            (n)  take such other actions as are reasonably required in order to
        expedite or facilitate the disposition of such Registrable Securities.

        Notwithstanding the provisions of this Section 5, the Company shall be
entitled to postpone, for a reasonable period of time, the filing or
effectiveness of any registration statement under Sections 2 or 3 if (A) the
Company determines, in the good faith exercise of its reasonable business
judgment, that such registration and offering could materially interfere with
bona fide financing, acquisition, or other material business plans of the
Company (including a proposed primary offering by the Company of its own
securities) or would require disclosure of non-public information, the premature
disclosure of which could materially adversely affect the business, properties,
operations or financial results of the Company; PROVIDED, HOWEVER, that the
Company shall not be required to disclose to the Holders requesting registration
any such transaction, plan or non-public information or (B) at any time prior to
the effectiveness of any Demand Registration or Piggy-back Registration the
Company determines that it is unable to comply with the provisions of Article 3
or Article 11 of Regulation S-X under the Securities Act, to the extent then
applicable to the Company. If the Company postpones the filing of a registration
statement pursuant hereto, it shall promptly notify in writing the Holders of
Registrable Securities requesting such registration when the events or
circumstances permitting such postponement have ended and at such time shall
proceed with the filing of the registration statement as requested. If the
Company shall postpone the filing of a registration statement pursuant hereto,
then the Holders of Registrable Securities demanding such registration shall
have the right to withdraw their request for registration by giving written
notice to the Company at any time within five days after the date the Company
notifies such Holders of Registrable Securities of its willingness to proceed
with the filing of the registration statement and, if such registration was to
be made pursuant to a Demand Registration, upon such withdrawal the withdrawn
demand will not count as a Demand Registration.

        The Company may require each Holder to promptly furnish in writing to
the Company such information regarding the distribution of the Registrable
Securities as the Company may from time to time reasonably request and such
other information as may be legally required in connection with such
registration.

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         Each Holder requesting registration of Registrable Securities pursuant
to Sections 2 or 3 of this Agreement shall cooperate with the Company and, if
applicable, the Underwriter or Underwriters in providing such information and
executing and delivering such documents as the Company or the Underwriter or
Underwriters reasonably shall request in connection with any such registration,
and the Company shall not be obligated to include in any such registration any
Registrable Securities of any Holder who does not comply with this paragraph.

         Each Holder of Registrable Securities covered by a registration
statement agrees that, upon receipt of any notice from the Company of the
happening of any event of the kind described in subsection 5(f) hereof, such
Holder will forthwith discontinue disposition of Registrable Securities pursuant
to the registration statement covering such Registrable Securities until such
Holder's receipt of the copies of the supplemented or amended prospectus
contemplated by subsection 5(f) hereof, and, if so directed by the Company, such
Holder will deliver to the Company all copies, other than permanent file copies
then in such Holder's possession, of the most recent prospectus covering such
Registrable Securities at the time of receipt of such notice. If the Company
shall give such notice, the Company shall extend the period during which such
registration statement shall be maintained effective (including the period
referred to in subsection 5(b) hereof) by the number of days during the period
from and including the date of the giving of notice pursuant to subsection 5(f)
hereof to the date when the Company shall make available to such Holder a
prospectus supplemented or amended to conform with the requirements of
subsection 5(f) hereof.

         6. REGISTRATION EXPENSES.

         In connection with any registration statement required to be filed
hereunder, the Company shall pay the following registration expenses (the
"Registration Expenses"): (i) all registration and filing fees; (ii) fees and
expenses of compliance with securities or blue sky laws (including reasonable
fees and disbursements of counsel in connection with blue sky qualifications of
the Registrable Securities); (iii) printing expenses (including expenses of
printing certificates for Registrable Securities); (iv) internal expenses
(including, without limitation, all salaries and expenses of its officers and
employees performing legal or accounting duties); (v) any fees and expenses
incurred in connection with the listing of the Registrable Securities on the
national securities exchange or automated quotation system on which the Common
Stock is listed; (vi) reasonable fees and disbursements of counsel for the
Company and customary fees and expenses for independent certified public
accountants retained by the Company (including the costs associated with the
delivery by independent certified public accountants of a comfort letter or
comfort letters requested pursuant to subsection 5(i) hereof); (vii) the
reasonable fees and expenses of any special experts or other persons retained by
the Company in connection with such registration; (viii) reasonable fees and
expenses of one counsel (who shall be reasonably acceptable to the Company) for
the Holders incurred in connection with any registration hereunder, and (ix)
messenger, delivery and telephone expenses related to any registration
contemplated hereunder. The Company shall not have any obligation to pay any
underwriting

                                       12
<PAGE>

fees, discounts, or commissions attributable to the sale of Registrable
Securities, or any out-of-pocket expenses of any Holder (or the agents who
manage his accounts), which amounts shall be the responsibility of the selling
Holder or Holders.

     7.   INDEMNIFICATION; CONTRIBUTION.

          (a)   INDEMNIFICATION BY THE COMPANY. The Company agrees to indemnify
and hold harmless each Holder of Registrable Securities and, if applicable, its
directors and officers and each person who controls such Holder within the
meaning of either Sections 15 of the Securities Act or Section 20 of the
Exchange Act, covered by a registration statement filed pursuant to this
Agreement from and against any and all losses, claims, damages, liabilities and
expenses (including reasonable legal and other costs of investigation and
defense) (collectively, "Losses") arising out of or based upon any untrue
statement or alleged untrue statement of a material fact contained in any such
registration statement or prospectus relating to the Registrable Securities or
in any amendment or supplement thereto or in any preliminary prospectus, or
arising out of or based upon any omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make the statements
therein not misleading, except insofar as such Losses arise out of, or are based
upon, any such untrue statement or omission or allegation thereof based upon
information furnished in writing to the Company by such Holder or on such
Holder's behalf expressly for use therein; PROVIDED, HOWEVER, that with respect
to any untrue statement or omission or alleged untrue statement or omission made
in any preliminary or final prospectus, the indemnity agreement contained in
this subsection shall not apply to extent that any such Losses result from the
fact that a current copy of the prospectus was not sent or given to the person
asserting any such Losses at or prior to the written confirmation of the sale of
the Registrable Securities concerned to such person if it is determined that it
was the responsibility of such Holder to provide such person with a current copy
of the prospectus and such current copy of the prospectus would have cured the
defect giving rise to such Losses. The Company also agrees to indemnify any
Underwriters of the Registrable Securities, their officers and directors, and
each person who controls such Underwriters within the meaning of either section
15 of the Securities Act or section 20 of the Exchange Act on substantially the
same basis as the indemnification of Holders provided in this subsection 7(a).

          (b)   INDEMNIFICATION BY HOLDERS. Each Holder agrees to indemnify and
hold harmless the Company, its directors and officers, and each person, if any,
who controls the Company within the meaning of either section 15 of the
Securities Act or section 20 of the Exchange Act (other than the Holder),
covered by a registration statement filed pursuant to this Agreement from and
against any and all Losses arising out of or based upon any untrue statement or
alleged untrue statement of a material fact contained in any such registration
statement or prospectus relating to the Registrable Securities or in any
amendment or supplement thereto or in any preliminary prospectus, or arising
out of or based upon any omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make the statements
therein not misleading, except insofar as such Losses arise out of, or are
based upon,

                                       13
<PAGE>

any such untrue statement or omission or allegation thereof based upon
information furnished in writing to the Company by such Holder or on such
Holder's behalf, in such Holder's capacity as a Holder and not in his capacity
as a director or officer of the Company, if applicable, expressly for use
therein; PROVIDED, HOWEVER, that with respect to any untrue statement or
omission or alleged untrue statement or omission made in any preliminary or
final prospectus, the indemnity agreement contained in this subsection shall not
apply to the extent that any such Losses result from the fact that a current
copy of the prospectus was not sent or given to the person asserting any such
Losses at or prior to the written confirmation of the sale of the Common Stock
concerned to such person if it is determined that it was the responsibility of
the Company or any other person or entity (other than the Holder) to provide
such person with a current copy of the prospectus and such current copy of the
prospectus would have cured the defect giving rise to such Losses. Each Holder
also agrees to indemnify and hold harmless underwriters of the Registrable
Securities, their officers and directors, and each person who controls such
underwriters within the meaning of either section 15 of the Securities Act or
section 20 of the Exchange Act on substantially the same basis as the
indemnification of the Company provided in this subsection 7(b).

     (c)  CONDUCT OF INDEMNIFICATION PROCEEDINGS. If any action or proceeding
(including any governmental investigation) shall be brought or asserted against
any person entitled to indemnification under subsections (a) or (b) above (an
"Indemnified Party") in respect of which Indemnity may be sought from any party
who has agreed to provide such indemnification (and "Indemnifying Party"), the
Indemnified Party shall promptly notify the Indemnifying Party in writing, and
the Indemnifying Party shall assume the defense thereof, including the
employment of counsel reasonably satisfactory to such Indemnified Party, and
shall assume the payment of all expenses. The Indemnified Party shall have the
right to employ separate counsel in any such action and to participate in the
defense thereof, but the fees and expenses of such counsel shall be at the
expense of such Indemnified Party unless (i) the Indemnifying Party has agreed
to pay such fees and expenses, (ii) the Indemnifying Party shall have failed to
promptly assume the defense of such action or proceeding and to employ counsel
reasonably satisfactory to the Indemnified Party, (iii) the named parties to any
such action or proceeding (including any impleaded parties) include both such
Indemnified Party and the Indemnifying Party, and such Indemnified Party shall
have been advised by counsel that there is a conflict of interest on the part of
counsel employed by the Indemnifying Party to represent such Indemnified Party,
or (iv) the Indemnified Party's counsel shall have advised the Indemnified Party
that there may be defenses available to the Indemnified Party that are different
from or in addition to those available to the Indemnifying Party and that the
Indemnifying Party is not able to assert on behalf of or in the name of the
Indemnified Party (in which case of either (iii) or (iv), if such Indemnified
Party notifies the Indemnifying Party in writing that it elects to employ
separate counsel at the expense of the Indemnifying Party, the Indemnifying
Party shall not have the right to assume the defense of such action or
proceeding on behalf of such Indemnified Party); it being understood, however,
that the Indemnifying Party shall not, in connection with any one such action or
proceeding or separate but substantially similar or related

                                       14
<PAGE>

actions or proceedings in the same jurisdiction arising out of the same general
allegations or circumstances, be liable for the fees and expenses of more than
one separate firm of attorneys (together with appropriate local counsel) at any
time for all such Indemnified Parties, which firm shall be designated in
writing by such Indemnified Parties. The Indemnifying Party shall not be liable
for any settlement of any such action or proceeding effected without its
written consent, which consent shall not be unreasonably withheld, but if
settled with its written consent, or if there be a final judgment for the
plaintiff in any such action or proceeding, the Indemnifying Party shall
indemnify and hold harmless such Indemnified Parties from and against any loss
or liability (to the extent stated above) by reason of such settlement or
judgment.

                  (d) CONTRIBUTION. If the indemnification provided for in this
Section 7 is unavailable to the Indemnified Parties in respect of any Losses
(other than by reason of exceptions provided in subsection 7(a) or 7(b)), then
each Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall
contribute to the amount paid or payable by such Indemnified Party as a result
of such Losses (i) in such proportion as is appropriate to reflect the relative
fault of the Company, on the one hand, and Holders (together with any other
selling stockholders that may be obligated thereon pursuant to similar
indemnification or contribution provisions as contained herein), on the other
hand, with respect to the statements or omissions which resulted in such Losses,
or action in respect thereof, as well as any other relevant equitable
considerations or (ii) if the allocation provided by clause (i) above is not
permitted by applicable law, in such proportion as shall be appropriate to
reflect the relative benefits received by the Company, on the one hand, and
Holders (together with any other selling stockholders that may be obligated
thereon pursuant to similar indemnification or contribution provisions as
contained herein), on the other hand, from the offering of the securities
covered by such registration statement. The relative fault of the Company on the
one hand and of Holders (together with any other selling stockholders that may
be obligated thereon pursuant to similar indemnification or contribution
provisions as contained herein) on the other shall be determined by reference
to, among other things, whether the untrue or alleged untrue statement of a
material fact or the omission or alleged omission to state a material fact
relates to information supplied by such party, and such party's relative intent,
knowledge, access to information, and opportunity to correct or prevent such
statement or omission. The relative benefits received by the Company on the one
hand and Holders (together with any other selling stockholders that may be
obligated thereon pursuant to similar indemnification or contribution provisions
as contained herein) on the other shall be deemed to be in the same proportion
as the total proceeds from the offering (net of underwriting discounts and
commissions but before deducting expenses) received by the Company bears to the
total proceeds (net of underwriting discounts and commissions but before
deducting expenses) received by the Holders (together with any other selling
stockholders that may be obligated thereon pursuant to similar indemnification
or contribution provisions as contained herein).

         The Company and each Holder agree that it would not be just and
equitable if contribution pursuant to this subsection 7(d) were determined by
pro rata allocation (even if the

                                       15
<PAGE>

Underwriters are treated as one entity for such purpose) or by any other method
of allocation which does not take into account the equitable considerations
referred to in the immediately preceding subsection. Notwithstanding the
provisions of this subsection 7(d), no Holder shall be required to contribute
any amount in excess of the amount by which the total price at which the
securities of such Holder were offered to the public exceeds the amount of any
damages which such Holder has otherwise been required to pay by reason of such
untrue or alleged untrue statement or omission or alleged omission. No person
guilty of fraudulent misrepresentation (within the meaning of subsection 11(f)
of the Securities Act) shall be entitled to contribution from any person who
was not guilty of such fraudulent misrepresentation.

            (e) SURVIVAL. The indemnity and contribution agreements contained in
this Section 7 shall remain operative and in full force and effect regardless of
(i) any termination of this Agreement or any underwriting agreement, (ii) any
investigation made by or on behalf of any Indemnified Party or by or on behalf
of the Company, and (iii) the consummation of the sale or successive resale of
the Registrable Securities.

        8. Participation in Underwritten Registrations.
           --------------------------------------------

        No Holder may participate in any underwritten registration hereunder
unless such Holder (i) agrees to sell his securities on the basis provided in
any underwriting arrangements approved by the persons or entities entitled
hereunder to approve such arrangements and (ii) completes and executes
questionnaires, powers of attorney, indemnities, underwriting agreements, and
other documents reasonably required under the terms of such underwriting
arrangements and this Agreement.

        9. Rule 144.
           ---------

        The Company covenants that it will file any reports required to be filed
by it under the Securities Act and the Exchange Act and the rules and
regulations thereunder, and it will take such further action that any Holder may
reasonably request to enable such Holder to sell Registrable Securities, from
time to time, without registration under the Securities Act within the
limitation of the exemptions provided by (a) Rule 144 under the Securities Act,
as such Rule may be amended from time to time, or (b) any similar rule or
regulation hereafter adopted by the Commission. Upon the request of any Holder,
the Company will deliver to such Holder a written statement as to whether it has
complied with such information and requirements.

        10. Miscellaneous.
            --------------

            (a) REMEDIES. In addition to being entitled to exercise all rights
provided herein and granted by law, including recovery of damages, each Holder
will be entitled to specific performance of his rights under this Agreement. The
Company agrees that monetary damages would not be adequate compensation for any
loss incurred by reason of a breach by it

                                       16
<PAGE>

of the provisions of this Agreement and hereby agrees to waive the defense in
any action for specific performance that a remedy at law would be adequate.

                  (b) TERM. The term of this Agreement shall terminate on the
earlier to occur of (i) the tenth anniversary of the date hereof or (ii) the
first date on which there are no longer any Registrable Securities (the "Term").

                  (c) NO INCONSISTENT AGREEMENTS. The Company will not on or
after the date of this Agreement enter into any agreement with respect to its
securities which is inconsistent with the rights granted to Holders in this
Agreement or otherwise conflicts with the provisions hereof. The Company has not
previously entered into any agreement with respect to its securities which
grants any existing registration rights to any other person or entity.

                  (d) AMENDMENTS AND WAIVERS. The provisions of this Agreement
may not be amended, modified, or supplemented, and waivers or consents to
departures from the provisions hereof may not be given, unless the Company has
obtained the written consent of the Holders.

                  (e) NOTICES. All notices and other communications provided for
or permitted hereunder shall be made in writing by hand delivery, registered
first-class mail, telex, telecopier, or air courier guaranteeing overnight
delivery:

                           (i) if to Alonzo, at the most current address given
         to the Company in accordance with the provisions of this subsection,
         which address initially is:

                                        Martin V. Alonzo
                                        Chase Brass Industries, Inc.
                                        300 Park Avenue
                                        17th Floor
                                        New York, New York 10022
                                        Telecopier: (212) 572-6402

                           (ii) if to CVC, at the most current address given to
         the Company and thereafter at such other address as may be designated
         from time to time by notice given in accordance with the provisions of
         this section, which address initially is:

                                        Citicorp Venture Capital Ltd.
                                        399 Park Avenue
                                        14th Floor, Zone 4
                                        New York, NY 10043
                                        Attention: Thomas P. McWilliams
                                        Telecopier: (212) 888-2940

                                       17
<PAGE>

               (iii)   If to the Company, at its most current address and
     thereafter at such other address as may be designated from time to time by
     notice given in accordance with the provisions of this section, which
     address initially is:

                                     Chase Brass Industries, Inc.
                                     State Route 15
                                     Montpelier, Ohio, 43543
                                     Attention: Frederick L. Deichert
                                     Telecopier: (419) 485-8150

               (iv)   if to any other Holder, at such address set forth on the
     Addendum to this Agreement executed and delivered by such Holder pursuant
     to Section 10(f) hereof or at such other address as may be designated from
     time to time by notice given in accordance with the provisions of this
     section.

          (f)   SUCCESSORS AND ASSIGNS. The Company shall not assign its rights
or obligations hereunder without the prior written consent of the Holders.
Alonzo and CVC may assign their respective rights and obligations hereunder to
persons to whom they transfer or otherwise assign Registrable Securities;
PROVIDED, HOWEVER, that the Registrable Securities assigned to any person by CVC
must represent five percent or more of the Company's outstanding Common Stock at
the time of any such transfer or assignment, and the Registrable Securities
assigned to any person by Alonzo must represent two percent or more of the
Company's outstanding Common Stock at the time of any such transfer or
assignment. In the event of any such assignment, such assignees shall be
entitled to the rights of the assignor only to the extent such rights expressly
are assigned to such assignor. Any assignment of rights under this Agreement in
violation of the foregoing shall be null and void. Subject to the foregoing,
this Agreement shall inure to the benefit of and be binding upon the successors
and assigns of the Company and each Holder; PROVIDED, HOWEVER, that any assignee
or transferee of Registrable Securities that is deemed a Holder under this
Agreement shall be entitled to the rights and benefits afforded such person by
this Agreement only upon such person's execution and delivery of an addendum to
this Agreement, in form and substance acceptable to the Company, agreeing to be
bound by the duties and obligations of a Holder under this Agreement.

          (g)   COUNTERPARTS. This Agreement may be executed in a number of
identical counterparts and it shall not be necessary for the Company and each
Holder to execute each of such counterparts, but when both have executed and
delivered one or more of such counterparts, the several parts, when taken
together, shall be deemed to constitute one and the same instrument, enforceable
against each in accordance with its terms. In making proof of this Agreement, it
shall not be necessary to produce or account for more than one such counterpart
executed by the party against whom enforcement of this Agreement is sought.

                                       18
<PAGE>

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

          (i)   GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD
TO PRINCIPLES OF CONFLICTS OR CHOICE OF LAW.

          (j)   SEVERABILITY. If any provision of this Agreement is held to be
illegal, invalid, or unenforceable under present or future laws effective during
the term of this Agreement, such provision shall be fully severable; this
Agreement shall be construed and enforced as if such illegal, invalid, or
unenforceable provision had never comprised a part of this Agreement; and the
remaining provisions of this Agreement shall remain in full force and effect and
shall not be affected by the illegal, invalid, or unenforceable provision or by
its severance from this Agreement. Furthermore, in lieu of each such illegal,
invalid, or unenforceable provision, there shall be added automatically as a
part of this Agreement a provision as similar in terms to such illegal, invalid,
or unenforceable provision as may be possible and be legal, valid, and
enforceable.

          (k)   ENTIRE AGREEMENT. This Agreement is intended by the Company and
the Holders as a final expression of their agreement and is intended to be a
complete and exclusive statement of their agreement and understanding in
respect of the subject matter contained herein. This agreement supersedes all
prior agreements and understandings between the Company and the Holders with
respect to such subject matter.

          (l)   THIRD PARTY BENEFICIARIES. Subject to the terms of subsection
10(f) hereof, this Agreement is intended for the benefit of the Company and the
Holders and their respective successors and assigns and is not for the benefit
of, nor may any provision hereof be enforced by, any other person or entity.

          (m)   ATTORNEYS' FEES. In any proceeding brought to enforce any
provision of this Agreement, the successful party shall be entitled to recover
reasonable attorneys' fees in addition to its costs and expenses and any other
available remedy.

                                       19
<PAGE>
     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date first above written.

                                   CHASE BRASS INDUSTRIES, INC.

                                   By: /s/ Martin V. Alonzo,
                                       ----------------------------------------
                                       Martin V. Alonzo,
                                       Chairman of the Board and Chief Officer

                                   CITICORP VENTURE CAPITAL LTD.

                                   By: /s/ Thomas F. McWilliams
                                       ----------------------------------------
                                       Thomas F. McWilliams
                                       Managing Director

                                       /s/ Martin V. Alonzo
                                       ----------------------------------------
                                       Martin V. Alonzo

                                       20<PAGE>
                                                                   Exhibit 10.14

                          CHASE BRASS & COPPER COMPANY

                            BENEFIT RESTORATION PLAN

                             AS AMENDED AND RESTATED

                                    EFFECTIVE

                                SEPTEMBER 1, 2001

                     (ORIGINALLY EFFECTIVE JANUARY 1, 1996)

<PAGE>

                                                                   Exhibit 10.14

                          CHASE BRASS & COPPER COMPANY

                            BENEFIT RESTORATION PLAN

                                TABLE OF CONTENTS

<TABLE>

<S>                                                                                                             <C>
ARTICLE I DEFINITIONS.............................................................................................1

ARTICLE II ELIGIBILITY............................................................................................5

ARTICLE III CONTRIBUTIONS.........................................................................................5

ARTICLE IV IN-SERVICE WITHDRAWAL..................................................................................6

ARTICLE V CREDITING OF CONTRIBUTIONS AND INCOME...................................................................7

ARTICLE VI BENEFITS...............................................................................................8

ARTICLE VII PAYMENT OF BENEFITS...................................................................................9

ARTICLE VIII ADMINISTRATION OF THE PLAN..........................................................................10

ARTICLE IX CLAIM REVIEW PROCEDURE................................................................................11

ARTICLE X LIMITATION OF RIGHTS...................................................................................13

ARTICLE XI LIMITATION OF ASSIGNMENT AND PAYMENTS TO LEGALLY INCOMPETENT DISTRIBUTEE..............................13

ARTICLE XII AMENDMENT TO OR TERMINATION OF THE PLAN..............................................................13

ARTICLE XIII STATUS OF PARTICIPANT AS UNSECURED CREDITOR.........................................................14

ARTICLE XIV GENERAL AND MISCELLANEOUS............................................................................14
</TABLE>

<PAGE>

                                                                   Exhibit 10.14

                          CHASE BRASS & COPPER COMPANY

                            BENEFIT RESTORATION PLAN

                                    PREAMBLE

         WHEREAS, Chase Brass & Copper Company, Inc. ("Company"), a corporation
formed under the laws of the State of Delaware, maintains a benefit restoration
plan for the exclusive benefit of a select group of management and highly
compensated employees of the Company to restore certain retirement benefits on
behalf of such employees decreased or limited because of limitations imposed by
the Internal Revenue Code of 1986 and subsequent legislation; and

         WHEREAS, the Company desires to amend and restate the Plan in certain
respects.

         NOW, THEREFORE, the Company hereby amends and restates, effective
September 1, 2001, the Chase Brass & Copper Company Benefit Restoration Plan
which was originally effective January 1, 1996, as follows:

                                   ARTICLE I

                                   DEFINITIONS

         1.1 "Account" shall mean the record maintained by the Committee showing
the monetary value of the individual interest in the Plan of each Participant or
Beneficiary. The term "Account" shall refer only to a bookkeeping entry and
shall not be construed to require the segregation of assets on behalf of any
Participant or Beneficiary.

         1.2 "Affiliate" shall mean a member of a controlled group of
corporations (as defined in Section 414(b) of the Code), a group of trades or
businesses (whether or not incorporated) which are under common control (as
defined in Section 414(c) of the Code), or an affiliated service group (as
defined in Section 414(m) of the Code) of which the Company is a member; and any
entity otherwise required to be aggregated with the Company pursuant to Section
414(o) of the Code or the regulations issued thereunder.

         1.3 "Beneficiary" shall mean the Beneficiary or Beneficiaries
designated by each Participant under the Profit Sharing Plan; provided, however,
that a Participant may designate a different Beneficiary or Beneficiaries
hereunder by delivering to the Committee a written beneficiary designation, in
the form provided by the Committee, and executed specifically with respect to
this Plan.

         1.4 "Board" shall mean the Board of Directors of the Company.

         1.5 "CSI" shall mean Chase Industries Inc., a Delaware corporation.

         1.6 "Change in Control" means the event that is deemed to have occurred
if:

               (a) any Acquiring Person (as hereinafter defined) is or becomes
          the "beneficial owner" (as defined in Rule 13d-3 under the Exchange
          Act), directly or indirectly, of securities of CSI representing fifty
          percent or more of the combined voting power of the then outstanding
          Voting Securities (as hereinafter defined) of CSI; or

<PAGE>

                                                                   Exhibit 10.14

               (b) a public announcement is made of a tender or exchange offer
          by any Acquiring Person for fifty percent or more of the outstanding
          Voting Securities of CSI, and the Board of Directors of CSI approves
          or fails to oppose that tender or exchange offer in its statements in
          Schedule 14D-9 under the Exchange Act; provided, however, that the
          events to occur under Sections 6.5 and 7.3 hereof shall not occur
          solely as a result of an event described in this clause (b) unless,
          within one year after the occurrence of such event, an event described
          in clauses (a), (c) or (d) hereof shall have occurred, in which case
          such events to occur under Sections 6.5 and 7.3 hereof shall occur
          upon the occurrence of such event but shall be deemed to have been
          effective as of the time of the occurrence of the event described in
          this clause (b); or

               (c) the stockholders of CSI approve a merger or consolidation of
          CSI with any other Person (or, if no such approval is required, the
          consummation of such a merger or consolidation of CSI), other than a
          Conversion Transaction. A "Conversion Transaction" shall mean a merger
          or consolidation that would result in the Voting Securities of CSI
          outstanding immediately prior to the consummation thereof continuing
          to represent (either by remaining outstanding or by being converted
          into Voting Securities of the surviving entity or of a parent of the
          surviving entity) a majority of the combined voting power of the
          Voting Securities and Convertible Voting Securities (on a
          fully-diluted basis assuming full conversion thereof) of the surviving
          entity (or its parent) outstanding immediately after that merger or
          consolidation; provided that if any Acquiring Person owns less than
          fifty percent of the Voting Securities of CSI outstanding immediately
          prior to such merger or consolidation and immediately after such
          merger or consolidation owns fifty percent or more of the outstanding
          Voting Securities of the surviving entity (or its parent) outstanding
          immediately after that merger consolidation, then such merger or
          consolidation shall not be deemed a "Conversion Transaction";

               (d) the stockholders of CSI or the Company approve a plan of
          complete liquidation of CSI or the Company, respectively, or an
          agreement for the sale or disposition by CSI or the Company of all or
          substantially all of CSI's or the Company's assets, respectively, (or,
          if no such approval is required, the consummation of such a
          liquidation, sale, or disposition in one transaction or series of
          related transactions) other than a liquidation, sale or disposition of
          all or substantially all of CSI's or the Company's assets in one
          transaction or a series of related transactions to a Subsidiary or any
          other Person owned directly or indirectly by the stockholders of CSI
          in substantially the same proportions as their ownership of stock of
          CSI immediately prior to such transaction;

               (e) CSI ceases to be the "beneficial owner" (as defined in Rule
          13d-3 under the Exchange Act), directly or indirectly, of securities
          of the Company representing at least a majority of the combined voting
          power of the then outstanding Voting Securities of the Company other
          than pursuant to a transaction in which, immediately after the
          consummation of such transaction, all of the outstanding Voting
          Securities of the Company or any Person into which the Company is
          merged or otherwise consolidated which are not owned by CSI or any
          Subsidiary of CSI are owned, directly or indirectly, by the
          stockholders of CSI in substantially the same proportions as their
          ownership of stock of CSI immediately prior to such transaction; or

               (f) members of the Incumbent Board (as hereinafter defined) of
          CSI cease for any reason to constitute at least a majority of the
          Board of Directors of CSI; or

                                      -2-
<PAGE>

                                                                   Exhibit 10.14

         For purposes of this Section 1.6, an "Acquiring Person" means any
Person other than (a) CSI, any Subsidiary of CSI, any employee benefit plan of
CSI or of a Subsidiary of CSI or of a corporation owned directly or indirectly
by the stockholders of CSI in substantially the same proportions as their
ownership of Stock of CSI, or any trustee or other fiduciary holding securities
under an employee benefit plan of CSI or of a Subsidiary of CSI or of a
corporation owned directly or indirectly by the stockholders of CSI in
substantially the same proportions as their ownership of Stock of CSI (b)
Citicorp Venture Capital, Ltd., a New York corporation ("CVC"), or (c) any
Affiliate (as hereinafter defined) of CVC that is directly controlled by
Citicorp or Citibank, N.A., or otherwise is in the same tier as CVC of
Affiliates under the control of such entities ("Direct Affiliates"), but shall
not include any entities that may be deemed an Affiliate of CVC as a result of
the investment by any Direct Affiliate in such entity.

         For purposes of this Section 1.6, a "Person" means any person or entity
of any nature whatsoever, specifically including (but not limited to) an
individual, a firm, a company, a corporation, a partnership, a trust, or other
entity. A Person, together with that Person's affiliates and associates (as
"affiliate" and "associate" are defined in Rule 12b-2 under the Exchange Act for
purposes of this definition only), and any Persons acting as a partnership,
limited partnership, joint venture, association, syndicate, or other group
(whether or not formally organized), or otherwise acting jointly or in concert
or in a coordinated or consciously parallel manner (whether or not pursuant to
any express agreement), for the purpose of acquiring, holding, voting, or
disposing of securities of CSI or the Company with that Person, shall be deemed
a single "Person."

         For purposes of this Section 1.6, "Affiliate" means (a) any Person who
is directly or indirectly the beneficial owner of at least 10% of the voting
power of the outstanding Voting Securities of CSI or (b) any Person controlling,
controlled by, or under common control with CSI or any Person contemplated in
clause (a) of this definition.

         For purposes of this Section 1.6, "Voting Securities" means (i) any
securities that are entitled to vote generally in the election of directors, in
the admission of general partners or in the selection of any other similar
governing body and (ii) with respect to CSI, all shares of CSI's nonvoting
common stock, par value $.01 per share (all of which are convertible into shares
of CSI's common stock, par value $.01 per share).

         For purposes of this Section 1.6, "Convertible Voting Securities" means
any and all options, warrants, or other rights to purchase, or securities
convertible into or exchangeable or exercisable for, directly or indirectly,
Voting Securities of any Person.For purposes of this Section 1.6, "Subsidiary"
means, with respect to any Person, any corporation, or other entity of which a
majority of the Voting Securities is owned, directly or indirectly, by that
Person.

         For purposes of this Section 1.6, "Incumbent Board" means individuals
who, as of the Effective Date, constitute the Board of Directors of CSI and any
other individual who becomes a director thereof after such date and whose
election or appointment by the Board of Directors of CSI or nomination for
election by the stockholders of CSI was approved by a vote of at least a
majority of the directors then comprising the Incumbent Board; provided that the
Incumbent Board shall not include the CVC Directors.

         For purposes of this Section 1.6, "CVC Directors" means (A) those
members of the Board of Directors of CSI who are, or who have served as,
employees, officers or directors of

                                      -3-
<PAGE>

                                                                   Exhibit 10.14

Citicorp Venture Capital Ltd. ("CVC"), Court Square Capital Limited ("CSCL") or
any Affiliate of CVC or CSCL at any time such individuals serve as a member of
the Board of Directors of CSI and (B) any other members of the Board of
Directors nominated by (i) such members of the Board of Directors of CSI
described in (A) above, (ii) CVC, (iii) CSCL, (iv) any Affiliate of CVC or CSCL,
or (v) any person who is part of a group (as determined pursuant to Section
13(d)(2) of the Exchange Act) of which CVC, CSCL or any Affiliate of CVC or CSCL
is also a part with respect to any Voting Securities of CSI.

         1.7 "Code" shall mean the Internal Revenue Code of 1986, as it may be
amended from time to time, and the rules and regulations promulgated thereunder.

         1.8 "Committee" shall mean a committee of two or more persons
designated by the Board to administer the Plan. The Committee may be
reconstituted by the Board and its members may be replaced without cause by the
Board at any time by written notice to the member or members who are to be
replaced.

         1.9 "Company" shall mean Chase Brass & Copper Company, Inc., or its
successor or successors.

         1.10 "Compensation" shall have the same meaning as such term in the
Profit Sharing Plan, except that it shall not be limited by section 401(a)(17)
of the Code and shall include any deferrals made under the Plan.

         1.11 "Disability" shall mean a physical or mental condition, the
occurrence of which shall entitle a Participant to benefits under the long-term
disability plan of the Company in which such individual participates, and in the
absence of such a plan, Disability shall mean a physical or mental condition
that prevents the Participant from any gainful employment with the Company, as
determined by the Committee in its sole and absolute discretion, which
determination shall be conclusive and binding for all purposes hereunder.

         1.12 "Effective Date" of this amended and restated version of the Plan
shall mean September 1, 2001; the Plan was originally effective January 1, 1996.

         1.13 "Exchange Act" means the Securities Exchange Act of 1934 and the
rules and regulations promulgated thereunder, or any successor law, as it may be
amended from time to time.

         1.14 "Normal Retirement Age" shall mean the age of sixty-five (65)
years.

         1.15 "Participant" shall mean an individual who has been designated by
the Committee as being eligible to participate in the Plan.

         1.16 "Plan" shall mean the Chase Brass & Copper Company Benefit
Restoration Plan, as amended from time to time.

         1.17 "Plan Year" shall mean the annual period beginning January 1 of
each year and ending December 31 of each year.

         1.18 "Profit Sharing Plan" shall mean the Chase Brass & Copper Company
Savings and Profit Sharing Plan for Salaried Employees, as may be amended.

                                      -4-
<PAGE>

                                                                   Exhibit 10.14

         1.19 "Trust Agreement" shall mean the agreement, if any, including any
amendments thereto entered into between the Company and the Trustee for the
accumulation of contributions made under the Plan.

         1.20 "Trust Fund" shall mean the cash and other properties held and
administered by the Trustee pursuant to the Trust Agreement, if any.

         1.21 "Trustee" shall mean the designated trustee acting at any time
under the Trust Agreement, if any.

         1.22 "Valuation Date" shall mean, with respect to the value of an
Account, the date on which the investment options for that Account are regularly
valued and the Account credited with earnings or losses thereon.

         1.23 "Year of Service" shall mean a year of service for vesting and
contribution allocation purposes, as such term is defined in the Profit Sharing
Plan.

                                   ARTICLE II

                                   ELIGIBILITY

         Participation in the Plan shall be made available to a select group of
individuals, as determined by the Committee, who are providing services to the
Company or an Affiliate in key positions of management and responsibility and
who are eligible to make contributions to the Profit Sharing Plan, the amount of
which is reduced by reason of the application of the limitations set forth in
Sections 401(a)(17) or 402(g)(1) of the Code. Such individuals will
automatically participate in the contributions described in Section 3.3 of the
Plan, even if they are not making deferrals under the Plan for that year. Such
individuals may elect to participate in the contributions described in Sections
3.1 and 3.2 of the Plan by executing a participation agreement in such form and
at such time as the Committee shall require, provided that each participation
agreement shall be executed no later than the last day of December immediately
preceding the Plan Year for which an individual elects to make contributions to
the Plan in accordance with the provisions of Section 3.1 hereof.
Notwithstanding the foregoing, in the first year in which an individual becomes
eligible to participate in the Plan, he may elect to participate in the Plan by
executing a participation agreement, in such form as the Committee shall
require, within thirty (30) days following the date on which he is notified by
the Committee of his eligibility to participate in the Plan. In such event, his
election to participate in the Plan shall become effective as of the first full
payroll period beginning on or after the Committee's receipt of his
participation agreement. The determination as to the eligibility of any
individual to participate in the Plan shall be in the sole and absolute
discretion of the Committee, whose decision in that regard shall be conclusive
and binding for all purposes hereunder.

                                  ARTICLE III

                                  CONTRIBUTIONS

         3.1 For any Plan Year, a Participant may irrevocably elect to defer a
portion of the Compensation otherwise payable to him with respect to such Plan
Year, in the amount set forth below. The amount which a Participant may elect to
defer under this Plan for any Plan Year shall be a percentage of his
Compensation for such Plan Year which is no less than one percent (1%) and no
greater than twelve percent (12%), with such deferral amount to be reduced by
the

                                      -5-
<PAGE>

                                                                   Exhibit 10.14

amount of the Participant's deferral under the Profit Sharing Plan during such
Plan Year. Any amounts withheld, pursuant to this Section 3.1, from the
Compensation otherwise payable to a Participant shall be credited to his Account
as of the date on which such amounts would otherwise have been paid. However,
deferrals under the Plan shall not begin until after the Participant's deferrals
under the Profit Sharing Plan for the year have been exhausted. Unless a
Participant revokes or changes his deferral election, a Participant's deferral
election for any given Plan Year shall be deemed to apply to the following Plan
Year without the necessity of the Participant's completion of a new deferral
election form.

         3.2 As of the last day of each calendar month, the Company shall credit
a matching contribution to the Account of each Participant who has deferred
amounts under the Plan during such month in accordance with the provisions of
Section 3.1 above. The amount of a Participant's matching contribution shall be
equal to fifty percent (50%) of the amount deferred hereunder by the Participant
during such month under Section 3.1; provided, however, in calculating a
Participant's matching contribution, the Participant's deferral amount under
Section 3.1 that is attributable to Compensation in excess of $350,000 shall be
disregarded.

         3.3 As of the last day of each Plan Year, the Company shall credit a
profit sharing contribution to the Account of each Participant who both is
employed by the Company on such day and has completed a Year of Service during
such Plan Year. Participants whose service with the Company and all Affiliates
was terminated prior to the last day of the Plan Year or who failed to complete
a Year of Service during the Plan Year shall not be credited with a profit
sharing contribution for that Plan Year, except as provided in the following
paragraph. The profit sharing contribution hereunder for each Plan Year shall
equal a percentage of Compensation in excess of the amount set forth in Section
401(a)(17)(A) of the Code (as in effect for the calendar year in which such Plan
Year begins) which is equal to the percentage of compensation allocated as a
profit sharing contribution to the Profit Sharing Plan for such Plan Year;
provided, however, the Compensation taken into consideration for this purpose
shall be limited to $350,000.

         The Company shall credit a profit sharing contribution to the Account
of any Participant whose employment with the Company and all Affiliates
terminated prior to the last day of the Plan Year as a result of death or
Disability, or as a result of retirement on or after his Normal Retirement Age.
Such contribution hereunder for each Plan Year shall equal a percentage of
Compensation in excess of the amount set forth in Section 401(a)(17)(A) of the
Code (as in effect for the calendar year in which such Plan Year begins) which
is equal to the percentage of compensation allocated as a profit sharing
contribution to the Profit Sharing Plan for the immediately preceding Plan Year.
Such contribution shall be credited to the Participant's Account as of the
Valuation Date used for distribution of the Account.

                                   ARTICLE IV

                              IN-SERVICE WITHDRAWAL

         4.1 In the event of an unforeseeable emergency, a Participant may make
a written request to the Committee for a withdrawal from his Account. For
purposes of this Section, the term "unforeseeable emergency" shall mean a severe
financial hardship to the Participant resulting from a sudden and unexpected
illness or accident of the Participant or of a dependent (as defined in Section
152(a) of the Code) of the Participant, loss of the Participant's property due
to casualty, or other similar extraordinary and unforeseeable circumstances
arising as a result of events beyond the control of the Participant. Any
determination of the existence of an

                                      -6-
<PAGE>

                                                                   Exhibit 10.14

unforeseeable emergency and the amount to be withdrawn on account thereof shall
be made by the Committee. Notwithstanding the foregoing, a withdrawal will not
be permitted to the extent that the financial hardship is or may be relieved:
(i) through reimbursement or compensation by insurance or otherwise; (ii) by
liquidation of the Participant's assets, to the extent that liquidation of such
assets would not itself cause severe financial hardship; or (iii) by cessation
of deferrals under this Plan. However, a Participant need not first take a
hardship withdrawal under the Profit Sharing Plan to relieve the financial
hardship. In no event shall the need to send a Participant's child to college or
the desire to purchase a home be deemed to constitute an unforeseeable
emergency. No member of the Committee shall vote or decide upon any matter
relating to the determination of the existence of his own financial hardship or
the amount to be withdrawn by him on account thereof. A request for a hardship
withdrawal must be made in writing on a form provided by the Committee, and must
be expressed as a specific dollar amount. The amount of a hardship withdrawal
may not exceed the amount required to meet the severe financial hardship. All
hardship withdrawals shall be paid in a lump sum in cash.

         Upon a Participant's receipt of a hardship withdrawal, then
notwithstanding any other provision herein to the contrary, such Participant
shall be prohibited from making any further deferrals pursuant to Section 3.1
hereof for a period of twelve (12) months, beginning on the date on which the
withdrawal is made. The Participant may elect to resume deferrals pursuant to
Section 3.1 hereof as of the first full payroll period beginning on or after the
last day of such twelve (12) month period by executing a new participation
agreement within the time period prior to such date established by the
Committee.

         4.2 Any withdrawal under Section 4.1 hereof shall be charged pro rata
to the individual investment options in which amounts credited to the
Participant's Account are deemed to be invested, pursuant to his designation
under Section 5.3 hereof.

                                   ARTICLE V

                      CREDITING OF CONTRIBUTIONS AND INCOME

         5.1 All amounts deferred by a Participant pursuant to the provisions of
Section 3.1 hereof shall be credited to the Account of the Participant, together
with all amounts credited to such Account on his behalf pursuant to Sections 3.2
and 3.3 hereof.

         5.2 As of each Valuation Date, there shall be credited to each
Participant's Account the deemed income or losses attributable thereto, as
provided in Section 5.3 below, as well as any other credits to or charges
against such Account.

         5.3 Unless otherwise designated by the Committee, the investment
options available under the Plan at any given time shall be the same as the
investment options available under the Profit Sharing Plan at such given time.
Each Participant, upon becoming a Participant in the Plan. may, on a form
prescribed by the Committee, designate the manner in which his Account shall be
deemed to be invested among the various investment options available for this
purpose. Such designation may be changed as of any Valuation Date, with respect
to future contributions and existing Account balances, by filing a new election
with the Committee. The Participant must designate, in such minimum percentages
or amounts as may be prescribed by the Committee, that portion of his Account
which the Participant wishes to allocate to each investment option offered
hereunder. The investment designation will continue until changed by the timely
submission of a new investment designation form, which change will be effective
as of the next succeeding Valuation Date. In the absence of any investment
designation, a

                                      -7-
<PAGE>

                                                                   Exhibit 10.14

Participant's Account shall be deemed to be invested in such property as the
Committee, in its sole and absolute discretion, shall determine. The Committee
may, but shall not be obligated to, invest amounts credited to a Participant's
Account in accordance with the investment designations of such Participant;
nevertheless, the Account of such Participant shall be credited with the amount
of income, gains and losses attributable thereto, as if the amounts credited to
such Account had been so invested. The Committee shall be authorized at any time
and from time to time to modify, alter, delete or add to the investment options
hereunder. In the event a modification occurs, the Committee shall notify those
Participants whom the Committee, in its sole and absolute discretion, determines
are affected by the change, and shall give such persons such additional time as
is determined necessary by the Committee to designate the manner and percentage
in which amounts thereby affected shall be deemed to be invested. The Committee
shall not be obligated to substitute options with similar investment criteria
for existing options, nor shall it be obligated to continue any particular type
of investment options.

                                   ARTICLE VI

                                    BENEFITS

         6.1 Upon the death of a Participant, the Beneficiary of such
Participant shall be entitled to the entire value of all amounts credited to
such Participant's Account, determined as of the Valuation Date immediately
preceding the date on which a distribution under Section 7.2 is made to the
Participant's Beneficiary. If a Participant fails to name a Beneficiary, or if
all Beneficiaries named by a Participant predecease him or die before complete
distribution of the Participant's Account, the then entire value of the
Participant's Account shall be paid to the Participant's estate.

         6.2 Upon a determination of a Participant's Disability or retirement on
or after attainment of Normal Retirement Age, such Participant shall be entitled
to the entire value of all amounts credited to his Account, determined as of the
Valuation Date immediately preceding the date on which a distribution under
Section 7.1 is made to the Participant.

         6.3 In the event of the termination of service of a Participant for
reasons other than death, Disability or retirement on or after the attainment of
Normal Retirement Age, the Participant shall be entitled to that portion of the
value of amounts credited to his Account in which he has a vested interest, as
set forth in Section 6.4 below, determined as of the Valuation Date immediately
preceding the date on which a distribution under Section 7.1 is made to the
Participant. Transfer of a Participant among the Company and its Affiliates
shall not be deemed for any purpose under the Plan to be a termination of
service of a Participant. A Participant shall be deemed to have terminated
service only upon his actual termination of service with the Company and all
Affiliates.

         6.4 That portion of a terminated Participant's benefits in which he is
vested shall be:

               (a) the entire value of all amounts credited to his Account which
          are attributable to deferrals made by such Participant pursuant to the
          provisions of Section 3.1 hereof; and

               (b) a percentage of the value of all amounts credited to his
          Account which are attributable to matching or profit sharing
          contributions credited on his behalf pursuant to the provisions of
          Sections 3.2 and 3.3 hereof, such percentage to be determined in
          accordance with the following schedule:

                                      -8-
<PAGE>

                                                                   Exhibit 10.14

                                                            Percentage
                  Completed Years of Service                 Payable

                  Less than 3 years                            00.00%
                  3 years but less than 4 years                33.33%
                  4 years but less than 5 years                66.67%
                  5 years or more                             100.00%

         Any amounts credited to a Participant's Account in which he is not
vested, as provided in this Section 6.4, shall be forfeited as of the date on
which the Participant receives a distribution under Article VII. Any such
forfeited amounts shall remain the property of the Company or a Trust, if any,
and shall not be allocated among the other Participants in the Plan.

         6.5 Upon a Change in Control, each Participant shall be fully vested in
the entire value of all amounts credited to his Account as of the effective date
of such Change in Control. Upon a Change in Control, the Board may, in its sole
and absolute discretion, and notwithstanding any other provision herein to the
contrary, direct that all benefits hereunder will be paid as soon as
administratively practicable after the effective date thereof; provided,
however, if the Change in Control involves a successor to the Company and such
successor decides to assume this Plan, then a Participant may defer any
distribution to him by electing such a deferral prior to the Change in Control
on a form provided by the Committee.

         6.6 In the event that an amendment to this Plan directly or indirectly
changes the vesting schedule set forth in Section 6.4 above, the vested
percentage of each Participant in his benefit accumulated to the date when the
amendment is adopted shall not be reduced as a result of the amendment. In
addition, any Participant with at least three (3) Years of Vesting Service at
that time may irrevocably elect, by written notice to the Committee, within the
election period hereinafter provided, to remain under the pre-amendment vesting
schedule with respect to all of his benefits accrued both before and after the
amendment. The election period shall begin no later than the date on which the
amendment is adopted and shall end no earlier than sixty (60) days after the
latest of: (a) the date on which the amendment is adopted, (b) the date on which
the amendment becomes effective, or (c) the date on which the Participant is
issued written notice of the amendment by the Company or the Committee.

                                  ARTICLE VII

                               PAYMENT OF BENEFITS

         7.1 Payment of a Participant's benefit under the Plan shall be made in
a lump sum in cash as soon as administratively feasible following the beginning
of the calendar year next following the calendar year in which occurs the event
entitling the Participant to a distribution under the Plan; provided, however,
that a Participant may, with the consent of the Committee, elect to receive the
distribution of his benefit as soon as administratively feasible following the
event entitling the Participant to the distribution. The decision of whether to
grant a Participant's request for an accelerated distribution of his Plan
benefits shall be made in the sole and absolute discretion of the Committee.

         If the Committee denies a Participant's request for an accelerated
distribution of his Plan benefits, the Participant may elect to receive such
distribution less a "forfeiture amount." The "forfeiture amount" equals ten
percent (10%) of the Participant's Account balance as of the Valuation Date
immediately preceding the date such distribution is made. Such distribution

                                      -9-
<PAGE>

                                                                   Exhibit 10.14

shall be made as soon as administratively feasible after the Participant's
request for a forfeiture distribution is made.

         7.2 Payment of a Participant's death benefits shall be made in a lump
sum in cash to his Beneficiary as soon as administratively feasible following
the Committee's receipt of proper notice of such Participant's death, but in no
event later than thirty (30) days following the Committee's receipt of such
notice.

         7.3 Notwithstanding any other provision herein to the contrary, upon
the effective date of a Change in Control, a Participant may elect at any time
thereafter, on a form prescribed by the Committee, to accelerate the date on
which payment of his benefit hereunder would otherwise be made. Upon such
election, the amount to which such Participant is entitled shall be ninety
percent (90%) of the vested benefit otherwise payable hereunder, which shall be
distributed in one lump sum, in cash, as soon as administratively practicable
following such election. The remainder of any amounts credited to such
Participant's Account in which he is otherwise vested shall be forfeited as of
the date of such distribution. If, at the time of such election, the Participant
is employed by the Company or an Affiliate (as, for example, in the case of a
Change in Control), such Participant shall be prohibited from participating in
the Plan for a period of twelve (12) months from the date on which he receives
the accelerated distribution, and no amounts shall be credited to his Account
pursuant to Sections 3.1, 3.2 or 3.3 hereunder with respect to such twelve (12)
month period. The Participant may again elect to participate in the Plan as of
the first full payroll period beginning on or after the last day of such twelve
(12) month period by executing a new participation agreement within the time
prior to such date established by the Committee.

         7.4 Notwithstanding the provisions of Section 7.1, the benefits payable
hereunder may be paid before they would otherwise be payable if, based on a
change in the federal or applicable state tax or revenue laws, a published
ruling or similar announcement issued by the Internal Revenue Service, a
regulation issued by the Secretary of the Treasury, a decision by a court of
competent jurisdiction involving a Participant or a Beneficiary, or a closing
agreement made under section 7121 of the Code that is approved by the Internal
Revenue Service and involves a Participant, the Committee determines that a
Participant has or will recognize income for federal or state income tax
purposes with respect to amounts that are or will be payable under the Plan
before they otherwise would be paid. The amount of any payments pursuant to this
Section 7.4 shall not exceed the lesser of: (a) the amount in the Participant's
Account or (b) the amount of taxable income with respect to which the tax
liability is assessed or determined.

                                  ARTICLE VIII

                           ADMINISTRATION OF THE PLAN

         8.1 The Company may establish a Trust Fund for the purpose of retaining
assets set aside by the Company pursuant to a Trust Agreement, if any, for
payment of all or a portion of the benefits payable pursuant to the Plan. Any
benefits not paid from a Trust shall be paid from the Company's general assets.
The Trust Fund, if any, shall be subject to the claims of general creditors of
the Company in the event the Company is "Insolvent," as such term is defined in
the Trust Agreement.

         8.2 Any benefits payable under the Profit Sharing Plan shall be payable
solely in accordance with the terms and provisions thereof, and nothing in this
Agreement shall operate

                                      -10-
<PAGE>

                                                                   Exhibit 10.14

or be construed in any way to modify, amend or affect the terms and provisions
of the Profit Sharing Plan.

         8.3 The Plan shall be administered by the Committee. The members of the
Committee shall not receive compensation with respect to their services on the
Committee. The members of the Committee shall serve without bond or security for
the performance of their duties hereunder unless applicable law makes the
furnishing of such bond or security mandatory or unless required by the Company.
Any member of the Committee may resign by delivering his written resignation to
the Company and to the other members of the Committee.

         8.4 The Committee shall perform any act which the Plan authorizes
expressed by a vote at a meeting or in a writing signed by a majority of its
members without a meeting. The Committee may, by a writing signed by a majority
of its members, appoint any member of the Committee to act on behalf of the
Committee. Any person who is a member of the Committee shall not vote or decide
upon any matter relating solely to himself or vote in any case in which his
individual right or claim to any benefit under the Plan is particularly
involved. If, in any matter or case in which a person is so disqualified to act,
the remaining persons constituting the Committee cannot resole a such matter or
case, the Board will appoint a temporary substitute to exercise all the powers
of the disqualified person concerning the matter or case in which he is
disqualified.

         8.5 The Committee may designate in writing other persons to carry out
its responsibilities under the Plan, and may remove any person designated to
carry out its responsibilities under the Plan by notice in writing to that
person. The Committee may employ persons to render advice with regard to any of
its responsibilities. All usual and reasonable expenses of the Committee shall
be paid by the Company. The Company shall indemnify and hold harmless each
member of the Committee from and against any and all claims and expenses
(including, without limitation, attorney's fees and related costs), in
connection with the performance by such member of his duties in that capacity,
other than any of the foregoing arising in connection with the willful neglect
or willful misconduct of the person so acting.

         8.6 The Committee shall establish rules, not contrary to the provisions
of the Plan, for the administration of the Plan and the transaction of its
business. The Committee shall determine the eligibility of any individual to
participate in the Plan, shall interpret the Plan in its sole and absolute
discretion, and shall determine all questions arising in the administration,
interpretation and application of the Plan. All determinations of the Committee
shall be conclusive and binding on all employees, Participants and
Beneficiaries, subject to the provisions of this Plan and applicable law.

         8.7 Any action to be taken hereunder by the Company shall be taken by
resolution adopted by the Board or an executive committee thereof; provided,
however, that by resolution, the Board or an executive committee thereof may
delegate to any officer of the Company the authority to take any actions
hereunder, other than the power to amend or terminate the Plan.

                                   ARTICLE IX

                             CLAIM REVIEW PROCEDURE

         9.1 In the event that a Participant or Beneficiary is denied a claim
for benefits under this Plan (the "Claimant"), the Committee shall provide to
the Claimant, within 90 days after receipt of the claim unless the Committee
determines that extra time is required (which time

                                      -11-
<PAGE>

                                                                   Exhibit 10.14

shall not exceed 90 days) and notifies the Claimant of such extension in
writing, written notice of the denial which shall set forth:

               (a) the specific reason or reasons for the denial;

               (b) specific references to pertinent Plan provisions on which the
          Committee based its denial;

               (c) a description of any additional material or information
          needed for the Claimant to perfect the claim and an explanation of why
          the material or information is needed;

               (d) a statement that the Claimant may:

                    (i)   Request a review upon written application to the
                          Committee;

                    (ii)  Review pertinent Plan documents; and

                    (iii) Submit issues and comments in writing; and

               (e) That any appeal the Claimant wishes to make of the adverse
          determination must be in writing to the Committee within sixty (60)
          days after receipt of the Committee's notice of denial of benefits.
          The Committee's notice must further advise the Claimant that his
          failure to appeal the action to the Committee in writing within the
          sixty (60) day period will render the Committee's determination final,
          binding, and conclusive.

         9.2 If the Claimant should appeal to the Committee, he, or his duly
authorized representative, may submit, in writing, whatever issues and comments
he, or his duly authorized representative, feels are pertinent. The Committee
shall re-examine all facts related to the appeal and make a final determination
as to whether the denial of benefits is justified under the circumstances. The
Committee shall advise the Claimant in writing of its decision on his appeal,
the specific reasons for the decision, and the specific Plan provisions on which
the decision is based. The notice of the decision shall be given within sixty
(60) days of the Claimant's written request for review, unless special
circumstances (such as a hearing) would make the rendering of a decision within
the sixty (60) day period infeasible, but in no event shall the Committee render
a decision regarding the denial of a claim for benefits later than 120 days
after its receipt of a request for review. If an extension of time for review is
required because of special circumstances, written notice of the extension shall
be furnished to the Claimant prior to the date the extension period commences.
The Committee's notice of denial of benefits shall identify the address to which
the Claimant may forward his appeal.

         9.3 The Company shall promptly reimburse each Claimant for his legal
fees reasonably incurred in successfully attempting to secure payment of the
benefit to which such Claimant is entitled hereunder.

                                      -12-
<PAGE>

                                                                   Exhibit 10.14

                                   ARTICLE X

                              LIMITATION OF RIGHTS

         The establishment of this Plan shall not be construed as giving to any
Participant, employee of the Company or any person whomsoever, any legal,
equitable or other rights against the Company, or its officers, directors,
agents or shareholders, or as giving to any Participant or Beneficiary any
equity or other interest in the assets or business of the Company or shares of
Company stock or as giving any employee the right to be retained in the
employment of the Company. All employees of the Company and Participants shall
be subject to discharge to the same extent they would have been if this Plan had
never been adopted. The rights of a Participant hereunder shall be solely those
of an unsecured general creditor of the Company.

                                   ARTICLE XI

                    LIMITATION OF ASSIGNMENT AND PAYMENTS TO
                         LEGALLY INCOMPETENT DISTRIBUTEE

         11.1 No benefits which shall be payable under the Plan to any person
shall be subject in any manner to anticipation, alienation, sale, transfer,
assignment, pledge, encumbrance or charge, and any attempt to anticipate,
alienate, sell, transfer, assign, pledge, encumber, charge or otherwise dispose
of the same shall be void. No benefit shall in any manner be subject to the
debts, contracts, liabilities, engagements or torts of any person, nor shall it
be subject to attachment or legal process for or against any person, except to
the extent required by law.

         11.2 Whenever any benefit which shall be payable under the Plan is to
be paid to or for the benefit of any person who is then a minor or determined by
the Committee, on the basis of qualified medical advice, to be incompetent, the
Committee need not require the appointment of a guardian or custodian, but shall
be authorized to cause the same to be paid over to the person having custody of
the minor or incompetent, or to cause the same to be paid to the minor or
incompetent without the intervention of a guardian or custodian, or to cause the
same to he paid to a legal guardian or custodian of the minor or incompetent, if
one has been appointed, or to cause the same to be used for the benefit of the
minor or incompetent.

                                  ARTICLE XII

                     AMENDMENT TO OR TERMINATION OF THE PLAN

         The Company reserves the right at any time to amend or terminate the
Plan in whole or in part by resolution of the Board; provided, however, that
upon a Change in Control, any amendment or termination of the Plan shall, for a
period of two (2) years following the effective date of such Change in Control,
require the prior written consent of a majority of all Participants and
Beneficiaries hereunder, including those Participants and Beneficiaries who, at
the time of such amendment or termination, are currently entitled to a benefit
hereunder, whether or not employed at such time by the Company or an Affiliate.
No amendment shall have the effect of retroactively changing or depriving
Participants or Beneficiaries of rights already accrued under the Plan. In the
event that the Company shall change its name, the Plan shall be deemed to be
amended to reflect the name change without further action of the Company, and
the language of the Plan shall be changed accordingly. Upon termination of the
Plan, the Board may, in its sole and absolute discretion, and notwithstanding
any other provision hereunder to the contrary,

                                      -13-
<PAGE>

                                                                   Exhibit 10.14

direct that all benefits hereunder will be paid as soon as administratively
practicable thereafter and in any event no later than 30 days following the
termination of the Plan.

                                  ARTICLE XIII

                   STATUS OF PARTICIPANT AS UNSECURED CREDITOR

         All benefits under the Plan shall be the unsecured obligations of the
Company and, except for those assets which may be placed in a Trust Fund
established in connection with this Plan, no assets will be placed in trust or
otherwise segregated from the general assets of the Company for the payment of
obligations hereunder. To the extent that any person acquires a right to receive
payments hereunder, such right shall be no greater than the right of any
unsecured general creditor of the Company.

                                  ARTICLE XIV

                            GENERAL AND MISCELLANEOUS

         14.1 Severability. In the event that any provision of this Plan shall
be declared illegal or invalid for any reason, said illegality or invalidity
shall not affect the remaining provisions of this Plan but shall be fully
severable and this Plan shall be construed and enforced as if said illegal or
invalid provision had never been inserted herein.

         14.2 Construction. The section headings and numbers are included only
for convenience of reference and are not to be taken as limiting or extending
the meaning of any of the terms and provisions of this Plan. Whenever
appropriate, words used in the singular shall include the plural or the plural
may be read as the singular. When used herein, the masculine gender includes the
feminine gender.

         14.3 Governing Law. The validity and effect of this Plan and the rights
and obligations of all persons affected hereby shall be construed and determined
in accordance with the laws of the State of Ohio unless superseded by federal
law.

         14.4 No Requirement to Fund. The Company is not required to set aside
any assets for payment of the benefits provided under this Plan; however, it may
do so as provided in the Trust Agreement, if any. A Participant shall have no
security interest in any such amounts. It is the Company's intention that this
Plan be construed as a plan which is unfunded and maintained primarily for the
purpose of providing deferred compensation for a select group of management or
highly compensated employees.

         14.5 Taxes. All amounts payable hereunder shall be reduced by any and
all federal, state and local taxes imposed upon the Participant or his
Beneficiary which are required to be paid or withheld by the Company or an
Affiliate.

-------------------------
END

                                      -14-

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