Document:

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                                                                   EXHIBIT 10.23

                                1100 CORPORATION

                              THE BISYS GROUP, INC.

                                  OFFICE LEASE

                                      INDEX

ARTICLE          TITLE                                                    PAGE

 1               Demised Premises                                           1
 2               Term                                                       1
 3               Rent                                                       1
 4               Rent Adjustment                                            1
 5               Increases in Annual Operating Costs                        1
 6               Additional Rent                                            3
 7               Laws and Ordinances                                        3
 8               Furniture; Fixtures; Electrical Equipment                  3
 9               Alterations                                                3
10               Damage                                                     3
11               Condemnation                                               4
12               Use of Demised Premises                                    4
13               Repairs by Tenant                                          4
14               Repairs by Landlord                                        4
15               Roof Rights                                                4
16               Landlord's Remedies Upon Default                           4
17               Services of Landlord                                       5
18               Insurance                                                  5
19               Property at Tenant's Risk                                  5
20               Assignment; Subletting                                     6
21               Signs                                                      6
22               Rules and Regulations                                      6
23               Parking                                                    6
24               Landlord Access                                            6
25               Subordination                                              6
26               Mortgagee Protection                                       6
27               Construction of Tenant Improvements by Landlord            6
28               Hold-Over                                                  7
29               Estoppel Certificates                                      7
30               Quiet Enjoyment                                            7
31               Delay                                                      7
32               Relocation of Tenant                                       7
33               Modifications Due to Financing                             7
34               Attorneys' Fees                                            7
35               Notices                                                    7
36               Remedies Cumulative; No Waiver                             8
37               Modification                                               8
38               Waiver of Jury Trial                                       8
39               Headings                                                   8
40               Applicable Law                                             8
41               No Option                                                  8
42               Gender; Assigns and Successors                             8
43               Severability                                               8
44               Special Stipulations                                       8
45               Commission                                                 8

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46               Assignment; Sublease
47               Right to Renew
48               ADA
49               Additional Services or Utilities
50               Coordination of the Work
51               Landlord's Waiver
52               Environmental
53               Tenant Remedies
54               Right of First Offer

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                                  OFFICE LEASE

         THIS LEASE, made this 9th day of December, 1999, by and between 1100
CORPORATION (hereinafter "Landlord"); and THE BISYS GROUP, INC., a Delaware
corporation (hereinafter "Tenant").

                                   WITNESSETH:

         1. DEMISED PREMISES. For and in consideration of the rent hereinafter
reserved and the mutual covenants hereinafter contained, Landlord does hereby
lease and demise unto Tenant, and Tenant does hereby hire, lease and accept,
from Landlord, Suite No. 1200 and 1300 containing approximately 35,034 rentable
square feet of office space (the "Rentable Area") on the 12th and 13th floors of
the building known as 1100 Circle 75 Parkway (the "Building") located in the
Circle 75 Office Park, at 1100 Circle 75 Parkway, Atlanta, Georgia 30339, (the
"Property") all upon the terms and conditions hereafter set forth. That portion
of the Rentable Area which Tenant shall be entitled to occupy is hereinafter
referred to as the "Demised Premises" or "Premises", and is outlined in red on
the floor plan attached hereto as Exhibit A and by this reference made a part
hereof. It is specifically understood that for purposes of calculating any
payments or pro-rations hereunder, the number of rentable square feet set forth
above shall control.

         2. TERM. The term of this Lease shall commence on the date hereof (the
"Lease Date") and shall end eighty-four (84) months after the "Rent Commencement
Date", as hereinafter defined. The "Rent Commencement Date" shall be the day
after Landlord substantially completes "Landlord's Work" in accordance with the
provisions of Article 27 below, or the date Tenant actually commences occupancy
of the Demised Premises for operational purposes, whichever is earlier. In the
event the Rent Commencement Date is a date other than the first day of a
calendar month, the term of the Lease shall run for the number of months set
forth above from the first day of the calendar month following the Rent
Commencement Date. Landlord and Tenant hereby agree to execute a Commencement
Agreement specifying the Rent Commencement Date hereof.

         For purposes of this Lease, Landlord's Work shall be deemed to be
"Substantially Complete" upon satisfaction of all of the following requirements:

                  (i) Landlord's general contractor has certified to Tenant that
all of Landlord's Work has been substantially completed in accordance with the
Construction Drawings (as defined in Article 27 below), except for minor items
which are inconsequential and do not affect Tenant's use or occupancy of the
Demised Premises and which are set forth on a "punch list" delivered to Landlord
no later than thirty (30) days after substantial completion of Landlord's Work,
which "punch list" items will be completed by Landlord within sixty (60) days
after Tenant's submission of such "punch list" to Landlord, but only if Tenant
has supplied a punch list to Landlord within the time period set forth above;
and

                  (ii) Landlord delivers a Certificate of Occupancy for the
Demised Premises.

         3. RENT. Commencing with the Rent Commencement Date, Tenant shall pay
as annual rent for the Demised Premises the sum of Six Hundred Forty Eight
Thousand One Hundred Twenty Nine and 00/100 Dollars ($648,129.00) per annum,
payable in equal monthly installments of Fifty Four Thousand Ten and 75/100
Dollars ($54,010.75) each (the "Initial Base Rent"). All such monthly
installments of rent shall be payable to Landlord or its designated agent, in
advance, without previous notice or demand therefor, and, except as otherwise
specifically stated in Article 53 herein, without deduction or setoff, with the
first monthly installment to be due and payable no later than the Rent
Commencement Date and each subsequent monthly installment to be due and payable
on the first day of each and every month following the Rent Commencement Date
during the term hereof. If the Rent Commencement Date is a date other than the
first day of a month, rent for the period commencing with and including the Rent
Commencement Date until the first day of the following month shall be pro-rated
at the rate of one-thirtieth (1/30th) of the fixed monthly rental per day.

Landlord hereby acknowledges receipt of Fifty Four Thousand Ten and 75/100
Dollars ($54,010.75), which shall constitute prepayment of the first month's
rent.

         4. RENT ADJUSTMENT.

                  (a) At the expiration of each Lease Year (as hereinafter
defined), the Initial Base Rent shall be increased by two percent.

                  (b) For all purposes of this Lease, the term "Lease Year"
shall be defined to mean a period of twelve (12) calendar months. The first
Lease Year shall commence on the Rent Commencement Date (or on the first day of
the first calendar month following the Rent Commencement Date if said date is
other than the first day of a calendar month), and each succeeding Lease Year
shall commence on the anniversary date of the beginning of the first Lease Year.

         5. INCREASES IN ANNUAL OPERATING COSTS. Tenant agrees to pay to
Landlord, as additional rent, its Pro-Rata Share (as hereinafter defined) of any
increases in Annual Operating Costs (as hereinafter defined) above the "Budgeted
Annual Operating Cost" of actual Annual Operating Costs for Fiscal Year 2000
(ending September 30, 2000)(the "Base Year"). Within one hundred eighty (180)
days following each September 30 during the term hereof, Landlord shall furnish
to Tenant a statement (the "Annual Statement") in reasonable detail of the
actual Annual Operating Costs for the prior twelve month period ending September
30 of each year (the "Fiscal Year") after the Base Year.

                  (a) Tenant shall, within fifteen (15) days of its receipt of
said Annual Statement, pay to Landlord its Pro-Rata Share of the difference
between the actual Annual Operating Cost reflected on said Annual Statement and
the Budgeted Annual Operating Cost set forth above for the same period (which
difference is hereinafter referred to as the "Increase"). Thereafter, commencing
October 1, 2001, Tenant shall pay to Landlord monthly during the term hereof, as
additional rent, without notice or demand therefor and without any

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deduction or setoff whatsoever, except as otherwise specifically stated in
Article 53 herein, an amount equal to one-twelfth (1/12th) of its Pro-Rata Share
of the Increase. Tenant's monthly payment set forth above shall be adjusted as
of each succeeding September 30 to the actual Increase, if any, set forth in
each successive Annual Statement, and such adjustment, if any, shall be paid
within thirty (30) days of the date of said Annual Statement. The amount of any
Increase calculated from time to time pursuant to any Annual Statement shall be
used as the basis for calculating Tenant's monthly payment for the next
succeeding twelve (12) month period.

                   (b) For the purposes of sub-paragraphs (a) of this paragraph
5, the following provisions shall control:

                   (i) All monthly payments as may be required thereunder for
the period October 1 through the date of the Annual Statement shall be payable
in full on the first day of each of the calendar month next following the date
of said Annual Statement. Failure of the Landlord to provide any Annual
Statement within the said one hundred eighty (180) day period shall not
constitute a waiver by Landlord of its rights to payments due pursuant to this
paragraph, and the obligations hereunder shall survive the expiration or other
termination of this Lease.

                   (ii) For any applicable Fiscal Year that begins prior to the
Rent Commencement Date or ends after the expiration date of this Lease, the
Increase for that Fiscal Year shall be apportioned on a per diem basis so that
only that portion of such Increase as is attributable to the portion of such
Fiscal Year that occurs during the term of this Lease, shall be payable by
Tenant.

                   (d) The total square footage of the Building is 269,049, and
based thereon, the Tenant's Pro-Rata Share as used herein shall mean .130.

                   (e) Annual Operating Costs as used herein shall include all
costs of operation, maintenance and repair of the Building and its
appurtenances, and shall include the following by way of illustration but not
limitation: Real Estate Taxes (as hereinafter defined), personal property taxes,
insurance, and the cost of labor, materials and services for the operation,
maintenance and repair of the Building and its appurtenances (including parking
areas and the Building's pro-rata share of the operating, maintenance and repair
of Parkway landscaping and the public areas, facilities and amenities of the
Circle 75 Office Park), including but not limited to, water and sewer charges,
garbage and waste disposal, license, permit and inspection fees, heat, light,
power and other utilities, air conditioning and ventilating, elevator services,
plumbing service, janitorial and cleaning service, maintenance and service
contracts, landscaping (including upgrades and replacements thereto), watchmen,
guards, and any personnel engaged in the operation, maintenance or repair of the
Building and its appurtenances together with payroll taxes and employee benefits
applicable thereto, advertising and promotion expenses, management expenses,
legal and accounting fees, and a reserve for asphalt and roof repairs of two
cents ($.02) per square foot of rentable area. In addition, Annual Operating
Costs shall include depreciation for capital expenditures made by Landlord to
reduce operating expenses only if Landlord shall have reasonably determined that
the annual reduction in operating expenses shall exceed depreciation therefor.
Depreciation shall be determined by dividing the original cost of such capital
expenditure by the number of years of useful life of the capital item acquired
and the useful life shall be reasonably determined by Landlord in accordance
with generally accepted accounting principles and practices in effect at the
time of acquisition of the capital item. Notwithstanding the foregoing to the
contrary, Annual Operating Costs shall not include:

         (i)      expenses incurred in leasing or procuring tenants (including
                  lease commissions, advertising expenses and expenses of
                  renovating space for tenants);

         (ii)     interest or amortization payments on any mortgages or deeds of
                  trust;

         (iii)    net basic rents under ground leases;

         (iv)     costs specifically billed to and paid by specific tenants and
                  not to tenants generally;

         (v)      legal fees and other expenses incurred by Landlord or agents
                  in connection with the negotiations of leases;

         (vi)     allowances, concessions, permits, licenses, inspections, and
                  other costs and expenses incurred in the initial build-out of
                  the Building;

         (vii)    costs incurred due to violations by Landlord of the terms and
                  conditions of any lease;

         (viii)   costs incurred for any item to the extent of Landlord's
                  recovery under a manufacturer's, materialmen's, vendor's or
                  contractor's warranty, if any;

         (ix)     costs of acquisition of sculpture, paintings or other objects
                  of art;

         (x)      costs of repairs incurred by reason of condemnation to the
                  extent Landlord receives compensation therefor through
                  condemnation or similar awards;

         (xi)     costs relating to maintaining Landlord's existence, either as
                  a corporation, partnership, trust or other entity;

         (xii)    any penalties or interest expenses incurred because of
                  Landlord's failure to timely pay Real Estate Taxes;

         (xiii)   costs of any repairs or improvements to the Building resulting
                  from a fire or other casualty, to the extent such repairs are
                  covered and reimbursed by the insurance which Landlord
                  maintains hereunder;

         (xiv)    except as it pertains to directly to the operation, repair,
                  maintenance and management of this Building, Landlord's
                  general overhead expenses;

         (xv)     costs arising from the removal of hazardous materials in,
                  about or below the Building or the Property due to
                  governmental regulations enacted prior to the date hereof.

                  (f) The term "Real Estate Taxes" means all taxes, rates and
assessments, general and special, levied or imposed with respect to the land,
buildings and improvements of which the Demised Premises are a part of,
including all taxes, rates and assessments, general and special, levied or
imposed for schools, public betterment, general or local improvements and
operations and taxes imposed in connection with any special taxing district. The
term "Real Estate Taxes" does not include any assessments or levies on any
additional buildings constructed on the Property or any recording taxes or other
transactional taxes related to the sale or refinancing of the Property, the
Building, and/or this Lease. If the system of real estate taxation shall be
altered or varied and any new tax or levy shall be levied or imposed on said
land, buildings and improvements, and/or Landlord in substitution for real
estate taxes presently levied or imposed on immovables in the jurisdiction where
the Building is located, then any such new tax or levy shall be included within
the term "Real Estate Taxes". Should any governmental taxing authority acting
under any regulation, levy, assess, or impose a tax, excise and/or assessment
however described (other than an income or franchise tax) upon, against, on
account of, or measured by, in whole or in part, the rent

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expressly reserved hereunder, or upon the rent expressly reserved under any
other leases or leasehold interests in the Property, as a substitute (in whole
or in part) or in addition to any existing real estate taxes on land and
buildings and otherwise, such tax or excise on rents shall be included within
the term "Real Estate Taxes". In the event Landlord is required by the taxing
authority to pay real estate taxes in advance, Tenant agrees that Landlord shall
immediately be reimbursed Tenant's Pro-Rata share upon billing Tenant therefor.
Reasonable expenses (consisting of attorneys' fees, consulting fees, expert
witness fees and similar costs) incurred by Landlord in obtaining or attempting
to obtain a reduction of any Real Estate Taxes shall be added to and included in
the amount of any such Real Estate Taxes. Real Estate Taxes which are being
contested by Landlord shall nevertheless be included for purposes of the
computation of the liability of Tenant under this paragraph, provided, however,
that in the event that Tenant shall have paid any amount of increased rent
pursuant to this Paragraph 5 and the Landlord shall thereafter receive a refund
of any portion of any Real Estate Taxes on which such payment shall have been
based, Landlord shall pay to Tenant the appropriate portion of such refund.
Landlord shall have no obligation to contest, object to or litigate the levying
or imposition of any Real Estate Taxes and may settle, compromise, consent to,
waive or otherwise determine in its discretion to abandon any contest with
respect to the amount of any Real Estate Taxes without consent or approval of
the Tenant.

                  (g) The Annual Statement furnished by Landlord to Tenant shall
include and show the following:

                           (1) Budgeted Annual Operating Costs (as defined
above);

                           (2) Annual Operating Costs for the applicable Fiscal
Year, including Landlord's standard detail for the applicable Fiscal Year and
the amount of Increase;

                           (3) The amount of any added payments due Landlord for
the applicable Fiscal Year, less any credits for amounts paid, if any; and

                           (4) The amount of the projected monthly payment for
the next Fiscal Year including the amount or revised amount due for any months
prior to the rendition of the Annual Statement.

                  (h) Landlord agrees to retain the books and records
substantiating the operating expenses incurred in each calendar year for a
period of one (1) year from the date Landlord submits a statement to Tenant.
Tenant, upon written notice to Landlord delivered within one hundred eighty
(180) days of Tenant's receipt of the pertinent Annual Operating Costs
statement, shall have reasonable access during normal business hours in
Landlord's headquarters office to inspect the books and records of Landlord
relating to Annual Operating Costs and/or to have such books and records audited
or reviewed, at Tenant's expense, for the purpose of verifying the Annual
Operating Costs statement. Tenant shall bear all costs relating to such
inspection, including, but not limited to, costs of photocopies. Any discrepancy
in Tenant's Proportionate Share shall be promptly corrected by a payment of any
shortfall to Landlord by Tenant within thirty (30) days after the applicable
audit, or by a credit against the next payment(s) of Annual Operating Costs due
under this Lease. If (i) Tenant has first notified Landlord of any alleged
discrepancies in Tenant's Proportionate Share of Annual Operating Costs and has
used reasonable efforts to resolve such discrepancy with Landlord prior to
commencing an audit, and (ii) Tenant's audit determines that Tenant's was
overcharged by more than an additional three percent (3%) in excess of its
Pro-Rata Share, and (iii) Landlord either agrees with such audit determination
(or it is judicially determined that such audit results were correct), then, in
addition to any overpayment found to be due to Tenant as set forth above,
Landlord shall reimburse Tenant for an additional amount equal to the reasonable
cost of such audit; notwithstanding the foregoing, Landlord shall not be
obligated to reimburse Tenant for any costs or expenses arising out of an audit
if the person or entity performing such audit is being compensated on a
contingent fee basis. Tenant shall keep the results of any audit of Annual
Operating Costs confidential.

         6. ADDITIONAL RENT. Any amounts required to be paid by Tenant hereunder
and any charges or expenses incurred by Landlord on behalf of Tenant under the
terms of this Lease shall be considered additional rental payable in the same
manner and upon the same terms and conditions as the rent reserved hereunder.
Any failure on the part of Tenant to pay such additional rental when and as the
same shall become due shall entitle Landlord to the remedies available to it for
non-payment of rent.

         7. LAWS AND ORDINANCES. Tenant will, at its own cost, promptly comply
with and carry out all orders, requirements or conditions now or hereafter
imposed upon it by the ordinances, laws and/or regulations of the municipality,
county and/or state in which the Demised Premises are located, whether required
of Landlord or otherwise, which are made necessary or which pertain to the
specific conduct of Tenant's business in the Demised Premises or any alterations
to the Demised Premises made by Tenant in accordance with Article 8 below,
except that Landlord shall comply with any orders affecting structural walls and
columns or to the Building in general unless compliance is made necessary due
only to Tenant's particular business in the Demised Premises or use of the
Demised Premises. Landlord and Tenant will indemnify and save each other
harmless from all penalties, claims, and demands resulting from such party's
failure or negligence in this respect.

         8. FURNITURE; FIXTURES; ELECTRICAL EQUIPMENT.

         (a) Tenant shall not place a load upon the floor of the Demised
Premises exceeding eighty (80) pounds per square foot without Landlord's prior
written consent. Business machines, mechanical equipment and materials belonging
to Tenant which cause vibration, noise, cold, heat or fumes that may be
transmitted to the Building or to any other leased space therein to such a
degree as to be objectionable to Landlord or to any other tenant in the Building
shall be placed, maintained, isolated, stored and/or vented by Tenant at its
sole expense so as to absorb and prevent such vibration, noise, cold, heat or
fumes. Tenant shall not keep within or about the Demised Premises any dangerous,
inflammable, toxic or explosive material. Tenant shall indemnify Landlord and
hold it harmless against any and all damage, injury, or claims resulting from
the moving of Tenant's equipment, furnishings and/or materials into or out of
the Demised Premises or from the storage or operation of the same. Any and all
damage or injury to the Demised Premises, the Building, or the Property caused
by such moving, storage or operation shall be repaired by Tenant at Tenant's
sole cost.

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         (b) Landlord shall at its expense furnish electric facilities to the
Premises and electricity for lighting and small business machinery only (e.g.,
typewriters, dictating machines, adding machines, calculators, small copiers,
postage machines, teletypes, personal computers and any other small office
equipment) (the Building's current electrical system is capable of furnishing a
minimum of five (5) watts of electrical current per usable square foot). Tenant
will not use any electrical equipment which in Landlord's reasonable business
opinion will overload the wiring installations or interfere with the reasonable
use thereof by other users in the Building. Tenant will not without Landlord's
prior written consent in each instance, which consent shall not be unreasonably
withheld, conditioned or delayed, connect any additional items (e.g., electric
heaters, vending equipment, printing, or duplicating machines, computers [other
than personal computers], auxiliary air conditioners, and non-personal computer
related equipment) to the Building's electrical system, or make any alterations
or additions to the system. Should Landlord grant such consent, all additional
circuits, meters or equipment required therefor shall be installed by Landlord
and the costs of installation, equipment and metering device shall be paid by
Tenant within thirty (30) days of receipt of bill and completion of the work.
The consumption of electricity for such additional equipment shall be paid
monthly by Tenant to Landlord at the prevailing utility company rates. Tenant
shall also pay Landlord for maintenance and consumption of electricity for the
existing supporting air conditioning system serving the twelfth floor computer
telephone room and supplying supplemental cooling on the 13th floor in the
Demised Premises if used by Tenant. Landlord and Tenant agree that in the event
Tenant adds additional equipment which in Landlord's opinion produces enough
heat to cause a comfort problem in the Building or any part thereof (which
opinion shall be in writing and shall be rendered when Tenant seeks permission
to install the same), then Landlord may install a supplemental air conditioner,
and Tenant agrees to pay Landlord for such equipment, installation and
consumption or electricity for supplemental air conditioner. Landlord shall not
be liable for any damages directly or indirectly resulting from the
installation, use or interruption of use of any equipment in connection with the
furnishing of services referred to in this paragraph.

         9. ALTERATIONS. Tenant shall make no alterations or changes, structural
or otherwise, to any part of the Demised Premises, either exterior or interior,
without Landlord's written consent. which consent shall not be unnecessarily
withheld, conditioned or delayed. Notwithstanding the foregoing, Tenant may make
interior, non-structural alterations to the Premises if (i) the alterations do
not require the issuance of a governmental permit (i.e., are generally cosmetic
or decorative in nature), and (ii) Tenant provides Landlord with detailed plans
and specifications for all such alterations. All alterations made by Tenant
pursuant to the preceding sentence shall be removed by Tenant prior to the
expiration of the term of this Lease. In the event of any such approved or
permitted changes, Tenant shall have all work done at its own expense. Request
for such consent shall be accompanied by plans stating in detail precisely what
is to be done. Tenant shall comply with the building codes, regulations and laws
now or hereafter to be made or enforced in the municipality, county and/or state
in which said premises are located and which pertain to such work. Any
additions, improvements, alterations and/or installations made by Tenant (except
only office furniture and business equipment) shall become and remain a part of
the Building and be and remain Landlord's property upon the termination of
Tenant's occupancy of said premises; provided, however, that if Landlord gives
written notice to Tenant at the time it gives its consent to the applicable
alterations but in any event prior to actual installation thereof to such
effect, it may require Tenant to restore said Demised Premises to their original
condition at Tenant's sole cost and expense. Tenant shall save Landlord harmless
from and against all expenses, liens, claims or damages to either property or
person which may or might arise by reason of the making of any such additions,
improvements, alterations and/or installations. Landlord reserves the right to
change, increase or reduce, from time to time, the number, composition,
dimensions or location of any parking areas (but in no event below that required
by applicable law), signs, the Building name, service areas, walkways, roadways
or other common areas or make alterations or additions to the Building, in its
sole discretion; provided, however, that Landlord will make no such changes that
would materially and adversely affect Tenant's use of the Demised Premises for
the purposes named herein without first obtaining the consent of Tenant, which
consent shall not be unreasonably withheld, conditioned or delayed.

         10. DAMAGE.

                  (a) If the Demised Premises shall be damaged by fire or other
cause, the damage shall be diligently repaired within a reasonable time by and
at the expense of Landlord, and the rent until such repairs shall have been made
shall abate pro-rata according to the part of the Demised Premises which is
unusable by Tenant. Due allowance shall be made for reasonable delay which may
arise by reason of adjustment of fire insurance on the part of Landlord and/or
Tenant, and for personal delay on account of "labor troubles" or any other cause
beyond Landlord's control. If, however, the Demised Premises are rendered wholly
untenantable by fire or other cause and Landlord shall decide not to rebuild the
same, or if the entire Building be so damaged that Landlord shall decide to
demolish it or not to rebuild it, then or in any of such events, Landlord may,
at its option, cancel and terminate this Lease by giving Tenant, within thirty
(30) days from the date of such damage, notice in writing of its intention to
cancel this Lease, whereupon the term of this Lease shall cease and determine
upon the third day after such notice is given, and Tenant shall vacate the
Demised Premises and surrender the same to Landlord. In neither of the certain
contingencies in this paragraph mentioned shall there be any liability on the
part of Landlord to Tenant covering or in respect of any period during which the
occupation of said Demised Premises by Tenant may not be possible because of the
matters hereinabove stated.

         (b) Notwithstanding anything to the contrary contained in this Lease,
if the Demised Premises are damaged or destroyed by fire, accident, the elements
or other casualty (a "Casualty") to the extent that it will not be possible to
rebuild the Premises within one hundred eighty (180) days after the date of the
Casualty, Landlord shall notify Tenant within thirty (30) days after such
Casualty of Landlord's good faith estimate of the time needed to undertake
reconstruction of the Demised Premises. If (i) Tenant is not then in default
under this Lease, and (ii) the damage was not caused by Tenant's negligence or
willful misconduct, Tenant shall have the right to terminate this Lease by
giving to Landlord notice of such termination within fifteen (15) days after
Landlord provides notice of such good faith estimate. In the event that Landlord
or Tenant do not exercise a right of termination as provided in this Lease,
Landlord shall commence to repair the damage caused by such Casualty and,
thereafter, shall diligently and continuously pursue completion of such repairs,
within the estimated completion date as set forth in Landlord's notice. If
Landlord fails to substantially complete the repairs within the estimated
completion date, Tenant shall have the right and option, as its sole and
exclusive remedy upon no less than thirty (30) days prior notice to Landlord to
terminate this Lease; provided, however, that any termination of this Lease by
Tenant shall be null and void if Landlord substantially completes repairs within
thirty (30) days after receipt of Tenant's notice of termination.

         11. CONDEMNATION. If the Demised Premises or any part thereof shall be
taken by any governmental or quasi-governmental authority pursuant to the power
of eminent domain, or by deed in lieu thereof, Tenant agrees to make no claim
for

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compensation in the proceedings, and hereby assigns to Landlord any rights which
Tenant may have to any portion of any award made as a result of such taking, and
this Lease shall terminate as to the portion of the Demised Premises taken by
the condemning authority and rental shall be adjusted to such date. The
foregoing notwithstanding, Tenant shall be entitled to claim, prove and receive
in the condemnation proceedings such awards as may be allowed for relocation
expenses and for fixtures and other equipment installed by it which shall not,
under the terms of this Lease, be or become the property of Landlord at the
termination hereof, but only if such awards shall be made by the condemnation
court in addition to and stated separately from the award made by it for the
land and the Building or part thereof so taken.

         If the nature, location or extent of any proposed condemnation
affecting the Building is such that Landlord elects in good faith to demolish
the Building, then Landlord may terminate this Lease by giving at least sixty
(60) days' written notice of termination to Tenant within one hundred twenty
(120) days after such condemnation and this Lease shall terminate on the date
specified in such notice.

         12. USE OF DEMISED PREMISES. The Demised Premises shall be used and
occupied by Tenant solely for the purpose of general office use, and for no
other purpose whatsoever. Tenant shall permit Landlord to transmit heat, air
conditioning and electric current through the Demised Premises at all times at
Landlord's discretion. Notwithstanding the previous sentence, if Landlord makes
any changes in the Demised Premises relating to the transmittal of heat,
air-conditioning and electrical current not otherwise requested by Tenant which
result in a reduction of usable square footage in the Demised Premises, Tenant
shall have the right to have an exact measurement of the actual usual square
footage of the Demised Premises by a licensed architect engaged by Tenant, at
its expense, and if said measurement indicates that the Demised Premises are
larger or smaller than the size recited in this Lease, the parties hereto shall
promptly execute a supplemental instrument adjusting, as applicable, the amounts
payable by Tenant for Base Rent, Annual Operating Costs and Real Estate Taxes,
to conform to the exact measurement. The Premises shall not be used for any
illegal purpose or in violation of any valid regulation of any governmental
body, or in any manner to (i) create any nuisance or trespass; (ii) annoy or
embarrass Landlord or any other tenant of the Property; (iii) vitiate any
insurance; or (iv) alter the classification or increase the rate of insurance on
the property. Landlord specifically agrees that use of the Demised Premises for
general office use as described in this Article 12 shall not result in any
increase in the cost of insurance.

         13. REPAIRS BY TENANT. Tenant agrees to maintain the Demised Premises
and the fixtures therein, (including any special heating, ventilating and air
conditioning equipment or other special installations for Tenant's fixtures and
equipment) in good order and condition during the term of this Lease at its sole
cost and expense, and will, at the expiration or other termination of the term
hereof, surrender and deliver up the same and all keys, locks and other fixtures
connected therewith (except only office furniture and business equipment) in
like good order and condition, as the same is now or shall be at the Rent
Commencement Date, ordinary wear and tear and fire or other casualty excepted.

         14. REPAIRS BY LANDLORD. Landlord shall have no duty to Tenant to make
any repairs or improvements to the Demised Premises except structural repairs
necessary for safety and tenantability, and then only if not brought about by
any act or neglect of Tenant, its agents, employees or invitees. Landlord shall
specifically repair the roof and replace the same as necessary to keep the
Demised Premises free and clean of leaks and seeping water, and Tenant shall
have such rights as are more specifically described in Article 53 below if
Landlord fails to timely act. Notwithstanding the aforesaid, Landlord shall not
be liable for any damage caused to the person or property of Tenant, its agents,
employees or invitees, due to the Property or the Building or any part or
appurtenances thereof being improperly constructed or being or becoming out of
repair, or arising from the leaking of gas, water or sewer, or steam pipes, or
from electricity, or from any other cause whatsoever, Tenant agrees to report
immediately in writing to Landlord any defective condition in or about the
Demised Premises known to Tenant which Landlord is required to repair, and a
failure to so report shall make Tenant liable to Landlord for any expense,
damage or liability resulting from such defects.

         15. ROOF RIGHTS. Except as otherwise provided in this Lease, Landlord
shall have the exclusive right to use all or any portion of the roof of the
Building for any purposes.

         16. LANDLORD'S REMEDIES UPON DEFAULT. In the event Tenant shall default
in the payment, when due, of any installment of rent or other charges or money
obligation to be paid by Tenant hereunder (all of which monetary obligations of
Tenant shall bear interest at the highest rate allowable by law, not to exceed
eighteen percent (18%) per annum, from the date due until paid in full) and
fails to cure said default within five (5) days after the same shall become due;
provided, however, that Tenant shall not be in default with respect to the first
two (2) monetary payments received after such five (5) day period in any Lease
Year unless Tenant fails to cure such default within five (5) days after
Tenant's receipt of written notice of such late payment; or if Tenant shall
default in performing any of the covenants, terms or provisions of this Lease
(other than the payment, when due, of any of Tenant's monetary obligations
hereunder) or any of the Rules and Regulations now or hereafter established by
Landlord to govern the operation of the Building and fails to cure such default
within thirty (30) days after written notice thereof from Landlord; provided,
however, that, solely with respect to non-monetary defaults which cannot with
due diligence and best efforts be cured within such thirty (30) day period if,
within such thirty (30) day period Tenant commences and thereafter diligently
pursues the cure of any such non-monetary default, Tenant shall be granted an
additional reasonable period of time to effect a cure; or if Tenant is
adjudicated a bankrupt; or if a permanent receiver is appointed for Tenant's
property; or if, whether voluntarily or involuntarily, Tenant takes advantage of
any debtor relief proceedings under any present or future law, whereby the rent
or any part thereof, is or is proposed to be, reduced or payment thereof
deferred; or if Tenant makes an assignment for the benefit of creditors; or if
Tenant's property or effects should be levied upon or attached under process
against Tenant, and not satisfied or dissolved within thirty (30) days after
written notice from Landlord to Tenant to obtain satisfaction thereof; then, and
in any of said events, Landlord, at its option may pursue any one or more of the
following remedies without any notice or demand whatsoever:

         (a) Landlord, at its option, may at once, or at any time thereafter
prior to such default being cured terminate this Lease by written notice to
Tenant, whereupon this Lease shall end concurrently with the receipt by Tenant
of such notice. Upon such termination by Landlord, Tenant will at once surrender
possession of the Demised Premises to Landlord and remove all of Tenant's
effects therefrom, and Landlord may forthwith re-enter the Premises and
repossess himself thereof, and through legal process remove all persons and
effects therefrom, using such force as may be necessary, without being guilty of
trespass, forcible entry, detainer or other tort.

                                       5
<PAGE>   8
         (b) Landlord may, without terminating this Lease, through legal process
enter upon and take possession of the Demised Premises and expel or remove
Tenant any other person who may be occupying the Premises or any part thereof,
without being liable for prosecution or any claim for damages therefor, and if
Landlord so elects, make such alterations and repairs as in, in Landlord's
judgment, may be necessary to relet the Premises, and any part thereof for such
rent and for such period of time and subject to such terms and conditions as
Landlord may deem advisable and receive the rent therefor. Upon each such
reletting, all rent received by Landlord from such reletting shall be applied
first to the payment of any indebtedness other than rent due hereunder from
Tenant to Landlord, including interest thereon; second, to the payment of any
loss and expenses of such reletting, including brokerage fees, reasonable
attorneys' fees and the cost of such alterations and repairs; third, to the
payment of rent due and unpaid hereunder, together with interest thereon as
herein provided; and the residue, if any, shall be held by Landlord and applied
in payment of future rent as the same may become due and payable hereunder.
Tenant agrees to pay to Landlord, on demand, any deficiency that may arise by
reason of such reletting. Notwithstanding any such reletting without
termination, Landlord may, at any time thereafter, elect to terminate this Lease
for such prior default.

         (c) In the event Landlord terminates this Lease in accordance with the
provisions of this Paragraph 16, Landlord may, in addition to any other remedy
it may have, recover from Tenant all damages and expenses Landlord may suffer or
incur by reason of Tenant's default hereunder, including, without limitation,
the cost of recovering the Premises, reasonable attorneys' fees and the worth at
the time of such termination of the excess, if any, of the amount of rent and
charges equivalent to the rent reserved in this Lease for the remainder of the
stated term over the then reasonable rental value of the Premises for the
remainder of the stated term, discounted at the rate of six percent (6%) per
annum from the date of termination or reentry, all of which sums shall become
immediately due and payable by Tenant to Landlord upon demand of Landlord.

         (d) If the rent agreed to be paid, including all other sums of money
which under the provisions hereto are declared to be rent, shall be in arrears
in whole or in part for ten (10) or more days after receipt of written notice,
Landlord may at its option (if such arrearage remains unpaid after ten (10)
days' written notice to Tenant) declare the tenancy hereunder converted into a
tenancy from month to month, and upon giving written notice to Tenant of the
exercise of such option, Landlord shall forthwith be entitled to all provisions
of law relating to the summary eviction of monthly tenants in default in rent.

         Pursuit of any of the foregoing remedies shall not preclude Landlord
from pursuing any other remedies herein or at law or in equity provided, nor
shall pursuit of any remedy by Landlord constitute a forfeiture or waiver of any
rent due to Landlord hereunder or of any damages accruing to Landlord by reason
of Tenant's violation of any of the covenants and provisions of this Lease.

         Anything in this Lease to the contrary notwithstanding, in order to
cover the extra expense involved in handling delinquent payments, Tenant shall
pay a "late charge" of $150.00 when any installment of rent (basic or any other
sum which may be considered additional rental under this Lease) is paid more
than five (5) days after the due date thereof. It is hereby understood that this
charge is for extra expenses incurred by the Landlord in processing the
delinquency.

         17. SERVICES OF LANDLORD.

                  (a) Landlord shall furnish reasonably adequate electric
current as required under this Lease, water and lavatory supplies during normal
business hours, and normal and usual cleaning and janitorial service after
business hours. Landlord further agrees to furnish elevator services and heat
and air conditioning in its judgment sufficient to reasonably cool or heat the
Demised Premises from 8:00 a.m. to 6:00 p.m., Monday through Friday inclusive;
and from 9:00 a.m. to 1:00 p.m., Saturdays (said services not being furnished on
Sundays or legal holidays as observed by the Landlord), provided, however, that
Landlord shall not be liable for failure to furnish or for suspension in delay
in furnishing such services due to breakdown, maintenance, or repair work,
strike, riot, civil commotion, governmental action or any other cause beyond the
reasonable control of Landlord. Notwithstanding the foregoing, in the event that
utility services are unavailable for reasons other than Tenant's negligence or
wrongful acts for a period in excess of three (3) consecutive days, the Rent
hereunder shall abate for each remaining day during which such utility service
remains unavailable.

                  (b) Landlord shall ensure that the heating, ventilating and
air-conditioning ("HVAC") system serving the Demised Premises shall meet the
following performance criteria:

                  (1) Summer Conditions: The entire air conditioning system for
all spaces is to maintain a 76 degrees Fahrenheit Dry Bulb temperature, plus or
minus 4 degrees Fahrenheit, and a 50% relative humidity, plus or minus 5%, at 92
degrees Fahrenheit Dry Bulb outdoor temperature;

                  (2) Winter Conditions: The entire heating system for all
spaces is to maintain a 72 degrees Fahrenheit Dry Bulb temperature, plus or
minus 4 degrees Fahrenheit, at 14 degrees Fahrenheit Dry Bulb outdoor
temperature;

                  (3) The HVAC system shall at all times provide fresh air in a
quantity of not less than .05 cubic feet per minute per square foot of floor
area.

                  (c) Landlord shall also furnish hot and cold water at all
times for lavatory, cleaning and drinking purposes.

                  (d) Landlord shall also furnish a Building-wide security
system including a card access system for after-business-hour entry and security
guard patrols during non-business hours.

         18. INSURANCE

                  (a) Tenant agrees to indemnify and save Landlord harmless from
any and all liabilities, damages, causes of action, suits, claims, judgments,
costs and expenses of any kind (including reasonable attorneys fees): (i)
relating to or arising from or in

                                       6
<PAGE>   9
connection with the possession, use, occupation, management, repair, maintenance
or control of the Demised Premises, or any portion thereof; (ii) arising from or
in connection with any act or omission of Tenant or Tenant's agents, employees
or invitees; or (iii) resulting from any default, violation or injury to person
or property or loss of life sustained in or about the Demised Premises
(excluding common areas). To assure such indemnity, Tenant shall carry and keep
in full force and effect at all times during the term of this Lease for the
protection of Landlord and Tenant herein, public liability insurance with limits
of at least One Million Dollars ($1,000,000.00) for each occurrence and Five
Hundred Thousand Dollars ($500,000.00) for each separate injury and property
damage insurance in the amount of One Hundred Thousand Dollars ($100,000.00),
with an insurance company licensed to do business in the State of Georgia and
having a rating of at least A-7 in Best's Key Rating Guide, and deliver to
Landlord a copy of said policy or certificate showing the same to be in full
force and effect.

                  (b) Said public liability and property damage insurance
policies and any other insurance policies carried by Tenant with respect to the
Demised Premises shall: (i) be issued in form reasonably acceptable to Landlord
by good and solvent insurance companies qualified to do business in the state in
which the Demised Premises is located and reasonably satisfactory to Landlord;
(ii) be issued in the names of Landlord, Landlord's mortgagee or deed of trust
holder (if and as designated in writing by Landlord) and Tenant; (iii) be
written as primary policy coverage and not contributing with or in excess of any
coverage which Landlord may carry; (iv) provide for 10 days' prior written
notice to Landlord of any cancellation or other expiration of such policy or any
defaults thereunder; and (v) contain an express waiver of any right of
subrogation by the insurance company against Landlord. Neither the issuance of
any insurance policy required hereunder, nor the minimum limits specified herein
with respect to Tenant's insurance coverage shall be deemed to limit or restrict
in any way Tenant's liability arising under or out of this Lease.

                  (c) Landlord shall maintain (i) public liability insurance on
the common areas of the Building in amounts not less than those set forth in
paragraph (a) of this Article 18 and (ii) Property Insurance for full
replacement cost of the Building in an amount sufficient to avoid co-insurance.

                  (d) Landlord will defend (with counsel selected by Landlord)
and indemnify Tenant, its officers, directors, employees and agents and save it
harmless from and against any and all claims, suits, judgements, actions,
damages, costs, liability and expense of any kind (including reasonable attorney
fees) in connection with loss of life, personal injury and/or damage to property
arising from or out of the common areas of the Building (including the parking
area and any common area outside the Building but on the Property) occasioned by
any negligent act or omission of Landlord, its agents, contractors or employees.

                  (e)(1) To the extent permitted by law, each of Landlord and
Tenant hereby releases the other, to the extent of all insurance carried (or
required to be carried) by each party under the terms of this Lease, from
liability for any loss or damage caused by fire or other of the extended
casualties insured against; provided, however, that this release shall be in
force and effect only with respect to loss or damage occurring during such time
as the releasing party's insurance policy contain a clause or clauses which
provides that: (i) the insurance company waives subrogation or consents to a
waiver of right of recovery, and (ii) such waiver of subrogation or consent to a
waiver of a right of recovery does not adversely affect or prejudice said policy
or the releasing party's right of full recovery thereunder. Landlord's release
of Tenant under this subparagraph 18 (e) is expressly conditioned upon Tenant's
full cooperation with Landlord's insurance carrier in inspections of the Demised
Premises and Tenant's compliance with all requirements imposed by Landlord's
insurance carrier with respect to any activities in or use of the Demised
Premises which increases the risk of loss to the Building or the Demised
Premises.

                  (2) If a party advises the other party that a clause of the
type described in paragraph (1) above is (i) not obtainable, or (ii) only
obtainable at additional cost, then such party shall not be obligated to obtain
a waiver; provided, however, that with respect to an inability to obtain a
waiver due to the imposition of additional cost, the party shall promptly notify
the other party of the amount of such additional cost and, if the party desiring
that the other party obtain a waiver agrees in writing to pay the additional
cost of obtaining the waiver, then, upon receipt of such payment, that party
shall obtain a waiver of subrogation for the benefit of the other party, as
described in paragraph (e)(1) above To the extent that Tenant is permitted to
self insure as to its personal property located in the Premises, Tenant will
nevertheless be deemed to be insured for such personal property for the purposes
of this paragraph (e).

         19. PROPERTY AT TENANT'S RISK. It is understood and agreed that all
personal property in the Demised Premises, of whatever nature, whether owned by
Tenant or any other person, shall be and remain at Tenant's sole risk and
Landlord shall not assume any liability or be liable for any damage to or loss
of such personal property, arising from the Bursting, overflowing, or leaking of
the roof or of water or sewer, steam pipes, or from heating or plumbing fixtures
or from the handling of electric wires or fixtures or from any other cause
whatsoever.

         20. ASSIGNMENT; SUBLETTING. Landlord hereby grants the right to possess
and enjoy the use of the Demised Premises to Tenant, but no estate shall pass
out of Landlord; it being understood and agreed that Tenant has only a usufruct
not subject to levy or sale. Tenant will not assign, transfer, mortgage or
encumber this lease or sublet or rent (or permit occupancy or use of) the
Demised Premises, or any part thereof, without obtaining the prior written
consent of Landlord; nor shall any assignment or transfer of this lease be
effectuated by operation of law or by transfer of any interest in tenant or
otherwise without the prior written consent of Landlord. The consent by Landlord
to any assignment or subletting shall not be construed as a waiver or release of
Tenant from the terms of, or Tenant's liability under, any covenant or
obligation under this lease, nor shall any such assignment or subletting be
construed to relieve Tenant from obtaining the consent in writing of Landlord to
any further assignment or subletting.

         Anything in this Lease to the contrary notwithstanding, in order to
cover the extra expense involved in handling Landlord consent of assignment or
subletting, Tenant shall pay a "sublease/assignment fee" of $500.00 when any
sublease or assignment is submitted to the Landlord for its consent. It is
understood that this charge is for extra expenses incurred by the Landlord in
processing the sublease or assignment. SEE SPECIAL STIPULATION NO. 46

         21. SIGNS. No sign, advertisement or notice shall be inscribed,
painted, affixed or displayed on the windows or exterior walls of the Demised
Premises or on any public area of the Building, except the directories and the
office doors, and then only in such

                                       7
<PAGE>   10
places, numbers, sizes, color and style as are approved by Landlord and which
conform to all applicable laws and/or ordinances. Any and all permitted signs
shall be installed and maintained by Landlord at Tenant's sole expense. Landlord
shall provide signage for Tenant on the Building directory and shall permit
Tenant to install its standard logo on the doors of the Demised Premises.

         22. RULES AND REGULATIONS. Tenant shall at all times comply with the
rules and regulations set forth on Exhibit B attached hereto, and with any
additions thereto and modifications thereof adopted from time to time by
Landlord, and each such rule or regulation shall be deemed to be a covenant of
this Lease to be performed and observed by Tenant.

         23. PARKING. Landlord grants Tenant at no additional cost the
non-exclusive, unassigned, right to use the parking area or areas designated by
the Landlord from time to time. Tenant hereby agrees to comply with all traffic
and parking rules and regulations imposed by Landlord from time to time.

         24. LANDLORD ACCESS. Landlord may enter the Demised Premises at all
reasonable hours and upon reasonable advance notice (which may be by telephone)
to exhibit the same to prospective purchasers, mortgagees or tenants, to inspect
the Premises to see that Tenant is complying with all its obligations hereunder,
to make repairs required of Landlord under the terms hereof or to make repairs
to Landlord's adjoining property. Such entry by Landlord (i) shall, at Tenant's
option, be in the presence of a representative of Tenant, and (ii) shall not
unreasonably interfere with the operation of Tenant's business on the Demised
Premises.

         25. SUBORDINATION

         (a) This Lease is subject and subordinate to the lien of any mortgage
or deeds to secure debt, which may now or hereafter affect or encumber the
Building or the real property of which the Demised Premises form a part and to
all renewals, modifications, consolidations, replacements or extensions thereof.
This paragraph shall be self-operative and no further instrument of
subordination shall be required. In confirmation of any such subordination,
Tenant shall execute within fifteen (15) days after receipt, any certificate
that Landlord may reasonably so request, provided the same contains appropriate
language of non-disturbance. Tenant covenants and agrees to attorn to Landlord
or to any successor to Landlord's interest in the Demised Premises, whether by
sale, foreclosure or otherwise.

         (b) Notwithstanding the foregoing, in the event any such first
mortgagee or the holder of any deed to secure debt shall elect to make the lien
of this Lease prior to the lien of its mortgage or deed to secure debt, then,
upon such party giving Tenant written notice to such effect, this Lease shall be
deemed to be prior in lien to the lien of such mortgage or deed to secure debt,
whether dated prior or subsequent thereto.

         (c) Landlord will use reasonable efforts to obtain a non-disturbance
agreement for Tenant's benefit from the lender holding the mortgage lien on the
Property as of the Lease Date (the "Lender") within one hundred fifty (150) days
of the Lease Date. The non-disturbance agreement shall be on the Lender's
approved form, and Tenant shall pay to Landlord, as additional rent, all fees,
costs and expenses charged to Landlord by the Lender in connection with the
Lender's review of this Lease and negotiation or review of the non-disturbance
agreement including, without limitation, the Lender's legal fees.

         26. MORTGAGEE PROTECTION. Tenant agrees to give any Mortgagees and/or
Trust Deed Holders, by Certified or Registered Mail or by delivery by a
reputable overnight carrier, a copy of any Notice of Default served upon
Landlord, provided that prior to such notice Tenant has been notified, in
writing, (by way of Notice of Assignment of Rents and Leases, or otherwise) of
the address of such Mortgagees and/or Trust Deed Holders. Tenant further agrees
that if Landlord shall have failed to cure such default within the time provided
for in this Lease, then the Mortgagees and/or Trust Deed Holders shall have an
additional thirty (30) days within which to cure such default or if such default
cannot be cured within that time, then such additional time as may be necessary
if within such thirty (30) days, any Mortgagee and/or Trust Deed Holder has
commenced and is diligently pursuing the remedies necessary to cure such default
(including but not limited to commencement of foreclosure proceedings, if
necessary to effect such cure), in which event this Lease shall not be
terminated while such remedies are being so diligently pursued. Tenant agrees
that in the event of the sale of the Property, by foreclosure or deed in lieu
thereof, the purchaser at such sale shall only be responsible for the return of
any security deposit paid by Tenant to Landlord in connection with this Lease to
the extent that such purchaser actually receives such security deposit.

         27. CONSTRUCTION OF TENANT IMPROVEMENTS BY LANDLORD.

         (a) Landlord shall, within one hundred twenty five (125) days after the
date the plans are approved by Landlord pursuant to this Article 27, install and
construct in the Demised Premises certain improvements required to make the
Demised Premises suitable for use by Tenant in Tenant's business, which
improvements are more specifically described in the attached Exhibit C. For
purposes of this Article 27, the "Construction Commencement Date" shall mean the
day after Tenant has approved the "Estimate" (as hereinafter defined) in
accordance with Article 27 (c) below.

         (b) Tenant shall, within fifteen (15) days from the date hereof,
provide Landlord with schematic plans and specifications (the "Plans") showing
the work which Tenant desires Landlord to perform in the Demised Premises.
Within fifteen (15) days after Tenant submits plans and specifications to
Landlord, Landlord shall advise Tenant that Landlord has either (a) approved the
Plans or (b) disapproved the plans, in which event Landlord shall specify in
writing in what respects the Plans are not acceptable to Landlord and what
revisions to the Plans will be required in order to make the Plans acceptable to
Landlord, in which event Tenant shall promptly revise the Plans in order to
accommodate the revisions required by Landlord. If Landlord does not approve or
disapprove the Plans submitted to it by Tenant within fifteen (15) days after
the Plans have been received by Landlord, the Plans shall be deemed to be
approved by Landlord, and the Demised Premises shall be renovated in accordance
with the Plans submitted by Tenant. Within thirty (30) days after Landlord's
approval of the Plans, Tenant shall provide to Landlord construction drawings
and specifications, consistent with the approved Plans, and sufficient for
Landlord to bid out and construct all improvements desired by Tenant in the
Demised Premises (the "Construction Drawings"). The Plans and Construction
Drawings for Landlord's work shall be subject to Landlord's approval, which
shall not be unreasonably withheld.

                                       8
<PAGE>   11
         (c) Tenant shall cause the Plans for the design of the Demised Premises
to be performed in a good and professional manner and in accordance with all
applicable laws, including but not limited to the Americans with Disabilities
Act of 1991, as amended. Landlord shall construct the Demised Premises in
accordance with the Plans in a good, professional and lien free manner.

         (d) Landlord shall pay all costs and expenses incurred in remodeling
the Demised Premises in accordance with the approved Plans and the Construction
Drawings to the extent that such costs and expenses, including design and
engineering expenses, Landlord's construction management fee and contractor's
fee, do not exceed Five Hundred Twenty Five Thousand Five Hundred Ten Dollars
($525,510.00). Within twenty (20) days after completion and approval of the
Construction Drawings, Landlord shall advise Tenant of the estimated cost of
Landlord's Work (the "Estimate"), and if the Estimate exceeds the sum of Five
Hundred Twenty Five Thousand Five Hundred Ten Dollars ($525,510.00), Tenant
shall either (i) within five (5) days after receipt of the Estimate, revise or
amend the approved Plans and the Construction Drawings in order to reduce the
cost of remodeling the Demised Premises to less than Five Hundred Twenty Five
Thousand Five Hundred Ten Dollars ($525,510.00), or (ii) deposit with Landlord
the amount by which the cost of the Landlord's Work, as reflected in the
Estimate, exceeds Five Hundred Twenty Five Thousand Five Hundred Ten Dollars
($525,510.00). If Tenant fails to revise or amend the Plans and the Construction
Drawings, as aforesaid, Tenant shall be deemed to have exercised the option set
forth in clause (ii) above. Notwithstanding the foregoing if, as a result of
change orders or unexpected conditions, the cost of performing Landlord's Work
exceeds the Estimate, Tenant shall nevertheless pay all such additional amounts
to Landlord in accordance with this Article 27.

         (e) Landlord shall construct the Demised Premises in accordance with
the Construction Drawings in a good, professional and lien free manner, and
Landlord shall (subject to delays caused by Tenant or resulting from the
occurrence of events of force majeure) diligently pursue the renovation of the
Demised Premises so that Landlord's Work in the Demised Premises will be
substantially complete within one hundred twenty five (125) days after the
Construction Commencement Date and, if such work is not substantially completed
within such period, Tenant may, as its sole and exclusive remedy, terminate this
Lease on the date falling thirty (30) days after Landlord's receipt of Tenant's
notice of termination; provided, however, that if Landlord substantially
completes Landlord's Work prior to the expiration of such thirty (30) day
period, then Tenant's notice of termination shall be null and void and this
Lease shall remain in full force and effect; provided, further, that if
circumstances beyond Landlord's reasonable control (including, without
limitation, force majeure or Landlord's inability to get appropriate
governmental permits required for such renovation) prevent Landlord from
completing such renovations by such date, then the period for Landlord to
perform such work shall be extended by an amount of time by which Landlord was
unable to perform it work as a result of such delay.

         (f) For purposes of this Lease, Landlord's Work shall be deemed to be
"Substantially Complete" upon satisfaction of all of the following requirements:

                  (i) Landlord's general contractor has certified to Tenant that
         all of Landlord's Work has been substantially completed in accordance
         with the Construction Drawings, except for minor items which are
         inconsequential and do not affect Tenant's use or occupancy of the
         Demised Premises and which are set forth on a "punch list" delivered to
         Landlord within thirty (30) days after substantial completion of
         Landlord's Work, which "punch list" items will be completed by Landlord
         within sixty (60) days after Tenant's submission of such "punch list"
         to Landlord, but only if Tenant has supplied a punch list to Landlord
         within the time period set forth above; and

                  (ii) The heating, ventilation, air-conditioning, electric,
         water, plumbing, lavatory and sprinklers systems in the Demised
         Premises are in good working order.

         28. HOLD-OVER. If Tenant shall not immediately surrender the Demised
Premises on the day after the end of the term hereby created, then Tenant shall,
by virtue of this agreement, become a Tenant by the month at twice the rental
agreed by said Tenant to be paid as aforesaid, commencing said monthly tenancy
with the first day next after the end of the term above demised; and said
Tenant, as a monthly Tenant, shall be subject to all of the conditions and
covenants of this Lease as though the same had originally been a monthly
tenancy. Each party hereto shall give to the other at least thirty (30) days'
written notice to quit the Demised Premises, except in the event of non-payment
of rent in advance or of the other additional rents provided for herein when
due, or of the breach of any other covenant by the said Tenant, in which event
Tenant shall not be entitled to any notice to quit, the usual thirty (30) days'
notice to quit being expressly waived; provided, however, that in the event that
Tenant shall hold over after expiration of the term hereby created, and if
Landlord shall desire to regain possession of said Premises promptly at the
expiration of the term aforesaid, then at any time prior to the acceptance of
the rent by Landlord from Tenant, as a monthly Tenant hereunder, Landlord, at
its election or option, may re-enter and take possession of the Demised Premises
forthwith, without process, or by any legal action or process in force in the
State in which the Demised Premises is located.

         29. ESTOPPEL CERTIFICATES. Tenant agrees, at any time and from time to
time, upon not less than twenty (20) days' prior written notice by Landlord, to
execute, acknowledge and deliver to Landlord or to such person(s) as may be
designated by Landlord, a statement in writing (i) certifying, if true. that
Tenant is in possession of the Demised Premises, has unconditionally accepted
the same and is currently paying the rents reserved hereunder, (ii) certifying
that this Lease is unmodified and in full force and effect (or if there have
been modifications, that the Lease is in full force and effect as modified and
stating the modifications), (iii) stating the Rent Commencement Date and the
dates to which the rent and other charges hereunder have been paid by Tenant and
(iv) stating whether or not to the best knowledge of Tenant, Landlord is in
default in the performance of any covenant, agreement or condition contained in
this Lease, and, if so, specifying each such default of which notices to
Landlord should be sent. Any such statement delivered pursuant hereto may be
relied upon by any owner, prospective purchaser, mortgagee or prospective
mortgagee of the Building or of Landlord's interest therein, or any prospective
assignee of any such mortgagee.

         30. QUIET ENJOYMENT. Landlord warrants that it has the right to make
this Lease for the term aforesaid and that it will put Tenant into complete and
exclusive possession of the Demised Premises. Landlord covenants that if Tenant
pays the rent and all other charges provided for herein, performs all of its
obligations provided for hereunder and observes all of the other provisions
hereof, Tenant

                                       9
<PAGE>   12
shall at all times during the term hereof peaceably and quietly have, hold and
enjoy the Demised Premises, without any interruption or disturbance from
Landlord, or anyone claiming through or under Landlord, subject to the terms
hereof.

         31. DELAY. In the event Landlord for any reason is unable to deliver
possession of the Demised Premises to Tenant on or before the Rent Commencement
Date, at Landlord's option, this Lease shall remain in full force and effect and
Tenant shall have no claim against Landlord by reason of any such delay but no
rent shall be payable during the pendency of any such delay, or upon written
notice to Tenant, Landlord may terminate this Lease and, except for the return
of any security deposit or prepaid rent, Landlord shall have no further
obligation or liability to Tenant. In the event that Landlord does not so
terminate this Lease, at such time as Landlord tenders possession of the Demised
Premises to Tenant in writing, Tenant shall commence payment of rent pursuant to
Paragraph 3 hereof, and the expiration date of the term of this Lease shall be
extended for a period equal to the period of such delay. In the event of any
such delay, Tenant shall execute a commencement agreement specifying the date on
which possession of the Demised Premises was tendered by Landlord.

         32. RELOCATION OF TENANT. Intentionally deleted.

         33. MODIFICATIONS DUE TO FINANCING. In the event that any mortgagee of
the Building or the land upon which the Building is located or of Landlord's
interest therein requires, as a condition of such financing, that modifications
to this Lease be obtained, and provided that such modifications (i) do not
affect Tenant's use of the Demised Premises as herein permitted; (ii) do not
increase the rent or other sums required to be paid by Tenant hereunder; (iii)
are made prior to a date which in one hundred twenty (120) days after the Lease
Date hereof; and (iv) do not increase the burdens, obligations or liabilities of
Tenant and do not decrease the burdens, obligations or liabilities of Landlord
or the benefits to Tenant under this Lease; then Landlord may submit to Tenant a
written amendment to this lease incorporating such required changes. Tenant
shall execute such reasonable amendment within twenty (20) days after the same
has been submitted to Tenant. Landlord shall reimburse Tenant for its reasonable
cost incurred reviewing the amendment, including reasonable attorneys' fees.

         34. ATTORNEYS' FEES. If any rent owing under this lease is collected by
or through an Attorney at Law, Tenant agrees to pay any costs or expenses,
including attorneys fees, incurred by Landlord. Tenant waives all homestead
rights and exemptions which he may have under any law as against any obligation
owing under this lease and assigns same to Landlord.

         35. NOTICES. All notices required or desired to be given hereunder by
either party to the other shall be sent, postage prepaid, by certified or
registered mail or by overnight mail by any recognized overnight courier. All
rents and other monetary obligations arising hereunder, and all notices to the
respective parties shall be addressed and sent as follows:

If to Landlord:

<TABLE>
<CAPTION>
NOTICES AND CORRESPONDENCE          WITH A COPY TO:                    RENT AND OTHER PAYMENTS
--------------------------          ---------------                    -----------------------
<S>                                 <C>                                <C>
1100 Corporation Company            Franklin Property Company          c/o Franklin Property
c/o Franklin Property Company       900 Circle 75 Parkway              P.O. Box 64772
8401 Connecticut Avenue             Suite 100                          Baltimore, Maryland  21264
Chevy Chase, Maryland  20815        Atlanta, Georgia  30339

If to Tenant:                       WITH A COPY TO:
The Bisys Group, Inc.               SCARINCI & HOLLENBECK
1100 Circle 75 Parkway              500 Plaza Drive, P.O. Box 3189
Suite 1200                          Secacus, NJ  07096-3189
Atlanta, GA 30339                   Attn: Victor E. Kinon, Esq.
</TABLE>

         36. REMEDIES CUMULATIVE; NO WAIVER. All rights and remedies given
herein and/or by law or in equity to Landlord are separate, distinct and
cumulative, and no one of them, whether exercised by Landlord or not, shall be
deemed to be in exclusion of any of the others. No failure of Landlord to
exercise any power given Landlord hereunder, or to insist upon strict compliance
by Tenant with his obligations hereunder, and no custom or practice of the
parties at variance with the terms hereof shall constitute a waiver of
Landlord's right to demand exact compliance with the terms hereof.

         37. MODIFICATION. This writing is intended by the parties as the final
expression of their agreement and as a complete and exclusive statement of the
terms thereof, all negotiations, considerations and representations between the
parties having been incorporated herein. No course of prior dealings between the
parties or their affiliates shall be relevant or admissible to supplement,
explain or vary any of the terms of this Lease. Acceptance of, or acquiescence
in, a course of performance rendered under this or any prior agreement between
the parties or their affiliates shall not be relevance or admissible to
determine the meaning of any of the terms of this lease. No representations,
understandings or agreements have been made or relied upon in the making of this
Lease other than those specifically set forth herein. This Lease can only be
modified by a written agreement signed by all of the parties hereto or their
duly authorized agents.

         38. WAIVER OF JURY TRIAL. Landlord and Tenant each hereby waives all
right to trial by jury in any claim, action, proceeding or counterclaim by
either party against the other on any matters arising out of or in any way
connected with this Lease, the relationship of Landlord and Tenant and/or
Tenant's use or occupancy of the Demised Premises.

         39. HEADINGS. Captions and headings are for convenience and reference
only.

         40. APPLICABLE LAW. This Lease shall be construed under the laws of the
State in which the Demised Premises is located.

         41. NO OPTION. The submission of this Lease for examination does not
constitute a reservation of or option for the Demised Premises, and this Lease
becomes effective only upon execution and delivery thereof by Landlord.

                                       10
<PAGE>   13
         42. GENDER; ASSIGNS AND SUCCESSORS. Feminine or neuter pronouns may be
substituted for those of the masculine form, and the plural may be substituted
for the singular number, in any place or places herein in which the context may
require such substitution or substitutions. The Term "Landlord" as used in this
Lease, means only the owner for the time being of the Landlord's interest in
this Lease; and, in the event of the sale, assignment or transfer by such owner
of the Landlord's interest in this Lease, such owner shall thereupon be released
and discharged of all covenants and obligations of Landlord hereunder thereafter
accruing. Except as provided in the preceding sentence, all of the covenants,
agreements, terms, conditions, provisions and undertakings in this Lease shall
inure to the benefit of, and shall extend to and be binding upon, the parties
hereto and their respective heirs, executors, legal representatives, successors
and assigns, to the same extent as if they were in every case named and
expressed.

         43. SEVERABILITY. If any term, covenant or condition of this Lease or
the application thereof to any person or circumstance shall to any extent be
held invalid or unenforceable, the remainder of this lease or the application or
such term, covenant or condition to persons or circumstances other than those as
to which it is held invalid or unenforceable, shall not be affected thereby and
each term, covenant and condition of this Lease shall be valid and enforced to
the fullest extent permitted by law.

         44 SPECIAL STIPULATIONS. If any of the following stipulations
supplement or conflict with any of the foregoing provisions hereof, the
following provisions shall control:

         45. COMMISSION. Pursuant to Georgia Real Estate regulation 520-1-.08,
Landlord and Tenant acknowledge and agree that Franklin Property Company has
acted as agent for the Landlord in this transaction and is to be paid a
commission by the Landlord pursuant to a separate agreement. Franklin Property
Company has not acted as agent for the Tenant in this transaction. CB Richard
Ellis, Inc. has acted as agent for the Tenant in this transaction and is to be
paid a commission by the Landlord pursuant to a separate agreement. CB Richard
Ellis, Inc. has not acted as agent for the Landlord in this transaction.

                  46. ASSIGNMENT; SUBLEASE. Notwithstanding anything contained
herein to the contrary Landlord will not unreasonably withhold its consent to
any assignment of this Lease or sublease of the Demised Premises, provided;
however, that Landlord shall have the following options:

         (a) Upon receipt from Tenant of written request for Landlord's consent
         to such an assignment or sublease, Landlord may cancel this Lease as of
         the date the requested subletting or assignment is to be effective.
         This option shall be exercised, if at all, within thirty (30) days
         following receipt by Landlord of the request for consent including
         financial information on the proposed Tenant and such other information
         concerning the proposed Tenant as the Landlord may request, by delivery
         to Tenant of written notice of Landlord's intention to exercise this
         option. In the event that Landlord elects to cancel this Lease pursuant
         to this paragraph, Landlord shall so notify Tenant in writing and
         Tenant shall have ten (10) business days from and after date of said
         notice to withdraw its request for such assignment or subletting.

         (b) If the proposed assignment or sublease relates to the entire
         Demised Premises, Landlord may lease the whole of the Demised Premises
         directly to Tenant's prospective Tenant, in which event,
         notwithstanding the last sentence of Paragraph 20 hereof, Tenant shall
         be released from all liability with respect to the Demised Premises so
         leased.

         (c) Upon the Landlord granting its consent to any proposed assignment
         or sublease, after Tenant pays all applicable out-of-pocket expenses
         arising from such assignment or transfer, all rental amounts and any
         additional payments arising hereunder and fifty percent (50%) of the
         remaining rental amounts and additional payments arising under the
         assignment or sublease in excess of all rentals contained in this
         Lease, shall be payable to Landlord.

         Notwithstanding any provisions in Paragraph 20 of the Lease, and
further not subject to the provisions of paragraphs (a), (b) and (c) immediately
above, Tenant may enter into an assignment of this Lease without Landlord's
consent, but with notice to Landlord, for the use and occupation of the Premises
solely for the purpose set forth in Article 12 to (i) Tenant's parent or
subsidiary corporation or to a corporation under common ownership with and
controlled by the same persons who control Tenant, or (ii) any party which
acquires substantially all of the assets of Tenant, or (iii) to a corporation
into which Tenant merges or consolidates, or (iv) in connection with an initial
public offering of stock in Tenant which results in Tenant being listed on a
national securities exchange; provided, however, that in each such event, (1)
such assignee shall have sufficient financial capabilities so as to meet all
obligations of this Lease, in the sole but reasonable business judgment of
Landlord; (2) such assignee shall possess qualifications for conducting the
business at the Premises to the satisfaction of Landlord; (3) such assignee
shall assume in writing all of Tenant's obligations hereunder; and (4) Tenant
continues to remain liable under this Lease for the performance of all of the
terms contained herein including but not limited to, the payment of Base Rent
and all Additional Rent due under this Lease. The liability of any Guarantor of
this Lease shall not be affected as a result of any assignment permitted under
this subparagraph (g). Notwithstanding any provisions of clause (i) of this
paragraph to the contrary, no assignment or other transfer of this Lease will be
permitted under this paragraph without Landlord's consent, if such assignment or
transfer would result in an assignment or transfer of this Lease or the
ownership interests in any assignee or transferee to an entity not affiliated
with Tenant through common ownership and control. It is the intention of the
parties that the provisions of this paragraph are included herein for the
purpose of providing Tenant with flexibility in the manner of operating its
business, but the provisions of clause (i) are not intended to permit, and do
not permit, an assignment or other transfer of this Lease to an entity outside
the ownership family to which Tenant belongs as a means of defeating the other
provisions of Article 20 or this Article 46 which require Landlord's consent to
a Transfer.

         47. RIGHT TO RENEW. Tenant shall have the right to renew the term of
this Lease for one additional term of five (5) years following expiration of the
original term, provided that this Lease is in full force and effect, that Tenant
or its permitted successors and/or assigns is/are in possession and occupying
the Demised Premises, and that Tenant shall not have been or presently be in
default (beyond any applicable grace period granted in this Lease for curing
same) in the performance or observance of any of the terms, provisions,
covenants and /or conditions of the Lease during the original term. Such right
of renewal must be exercised by delivery to Landlord of

                                       11
<PAGE>   14
an unequivocal written notice, served by registered or certified U. S. mail, of
Tenant's intention to renew at least twelve (12) months prior to the expiration
of the original term. The renewal term shall be on the same terms, covenants and
conditions as the original term except:

         (a) The Initial Base Rent to be paid by the Tenant during the renewal
         term (hereinafter referred to as "Renewal Base Rent") shall be the then
         current market rate for comparable space within the 1100 Building.
         Should Landlord and Tenant be unable to agree upon the market lease
         rate for comparable space then both Landlord and Tenant shall each
         select an Appraiser who is a member of the Appraisal Institute (M.A.I.)
         to determine the market lease rate. Should these appraisers be unable
         to agree, then they shall select a third M.A.I. appraiser, whose
         decision shall be binding. The cost of appraisals shall be shared
         equally by the Landlord and the Tenant. In no event shall the Initial
         Base Rent for the renewal term be less than the Initial Base Rent in
         the final lease year of the original term of the lease.

         (b) At the expiration of each twelve (12) month period following the
         beginning of renewal term, the Renewal Base Rent shall be increased by
         two percent.

         (c) The increases in Annual Operating Costs shall continue to be
         calculated on the basis of the Budgeted Annual Operating Cost set forth
         in paragraph 5 hereof, however, the "Base Year" shall be revised to be
         the first "Fiscal Year" (as defined in Article 5 above) of the renewal
         term.

         48. ADA. Landlord agrees that the Building, including all common areas
such as hallways, elevators, restrooms, sidewalks and parking lots will comply
with the Americans with Disabilities Act of 1990 and the regulations promulgated
thereunder. Landlord further agrees that, if it is determined that the building
does not comply with the Americans with Disabilities Act, it will be solely
liable for such failure and that it will, among other things, take all
reasonable actions necessary to bring the building into compliance. Tenant
agrees that its design and furnishing of the leased premises will comply with
the Americans with Disabilities Act. Tenant agrees that if it is determined that
the leased premises does not comply, it will be solely liable for such failure
and that it will, among other things, take all reasonable actions necessary to
bring the leased premises into compliance.

         49. ADDITIONAL SERVICES OR UTILITIES. Subject to the terms and
conditions of this Article 49, Landlord shall, at Tenant's request, furnish
additional quantities of any of the services or utilities specified in the
Lease. Tenant shall deliver to Landlord a written request for such additional
services or utilities prior to 2:00 p.m. on Monday through Friday (except
National Holidays) for service on such days, and prior to 2:00 p.m. on the last
full business day prior to a Saturday, Sunday or national Holiday. Tenant shall
pay to Landlord the sum of Thirty Five Dollars ($35.00) per hour per floor as a
charge for such additional services or utilities, which charge shall be deemed
Additional Rent hereunder. The aforesaid sum may be adjusted from time to time
by Landlord based upon increases in the actual costs of such services and
utilities. If Tenant shall fail to make any such payments as and when due in
accordance with the terms of this Lease, Landlord may, upon notice to Tenant and
in addition to any other rights or remedies available to Landlord under this
Lease, thereafter discontinue providing any or all of the additional services or
utilities.

         50. COORDINATION OF THE WORK. Tenant may, upon reasonable prior notice
to Landlord, at Tenant's risk and upon satisfaction of the requirements of
Article 18, enter into the Premises to perform work therein prior to the date
that Landlord has completed Landlord's Work as described in Article 27 above.
Tenant shall use best efforts to coordinate its work with work being done by
Landlord and Landlord's contractors so as to avoid any interference with or
delays to Landlord's Work, and Landlord and Tenant agree to reasonably cooperate
with each other to stage and coordinate their respective construction work. If
Landlord determines in its reasonable discretion that Tenant has delayed or
interfered with Landlord's Work, then Landlord may require that Tenant cease any
construction activity which is causing, or which may cause, any delay or
interference.

         51. LANDLORD'S WAIVER. Landlord will, upon receipt of written request
from Tenant, execute an agreement, on Landlord's form, subordinating any
Landlord liens it may have on Tenant's inventory, trade fixtures and other
personal property as a result of this Lease to a lien on such personal property
held by any bona fide, third party lender; provided, however, that,
notwithstanding anything herein contained or any decision of any court to the
contrary, the term "trade fixtures" shall not include any air-conditioning,
heating, lighting, electrical and plumbing equipment installed by Tenant in the
Premises, nor any wiring or other apparatus related thereto. Notwithstanding the
aforesaid, Landlord whereby waives any statutory or common law lien or right of
distraint against any and all of Tenant's work product, business records and
client files.

         52. ENVIRONMENTAL.

                  (a) Landlord represents that, to the best of Landlord's
knowledge, the Demised Premises, the Building and the Property are in compliance
with all environmental laws in existence on the Lease Date, and that no
hazardous materials are located within the Demised Premises. No hazardous
materials shall be stored or used in the Demised Premises except as required for
the operation of Tenant's business, as permitted under this Lease, and any such
hazardous materials shall be stored and handled in strict compliance with
applicable laws. Landlord shall use diligent efforts to insure that any
hazardous materials used by other tenants of the Building shall be stored and
handled in strict compliance with applicable laws and shall use commercially
reasonable efforts to cause compliance by other tenants and other third parties
with environmental laws which affect the Building, the Property or the Demised
Premises. Tenant shall not be liable for any environmental contamination of the
Demised Premises or the Building or the Property unless such contamination was
caused by the act or omission of Tenant or its agents, contractors or employees.

                  (b) Landlord shall defend, indemnify, and hold Tenant and
Tenant's agents, officers, directors, employees, and contractors harmless
against and from any and all injuries, costs, expenses, liabilities, losses,
damages, injunctions, suits, actions, fines, penalties, and demands of any kind
or nature (including reasonable attorney fees) occasioned by or arising out of
or relating to any environmental pollution, damage, condition or problem arising
from the presence of any hazardous substances, asbestos or other toxic waste as
defined in any federal, state, or municipal governmental or quasi-governmental
laws, rules, regulations, or ordinances in or about the Demised Premises or the
Building or Property in violation of law that are (i) existing in the Demised
Premises or the Building

                                       12
<PAGE>   15
or Property prior to Tenant's occupancy of the Demised Premises or (ii) caused
by the acts, omissions or negligence of Landlord, its agents, or employees and
not caused by Tenant's acts, omissions or use of the Demised Premises.

                  (c) Tenant shall defend, indemnify, and hold Landlord and
Landlord's agents, officers, directors, employees, and contractors harmless
against and from any and all injuries, costs, expenses, liabilities, losses,
damages, injunctions, suits, actions, fines, penalties, and demands of any kind
or nature (including reasonable attorneys fees) occasioned by or arising out of
or relating to any environmental pollution, damage, condition or problem arising
from the presence of any hazardous substances, asbestos or other toxic waste as
defined in any federal, state, or municipal governmental or quasi-governmental
laws, rules, regulations, or ordinances in or about the Demised Premises or the
Building or Property in violation of law that are existing in the Demised
Premises and caused by the acts, omissions or negligence of Tenant, its agents,
or employees and not caused by Landlord's actions.

         53. TENANT REMEDIES.

                  (a) If Landlord shall fail to maintain and repair the Demised
Premises in accordance with the provisions of this Lease and such failure
continues for a period in excess of thirty (30) days after Landlord receives
Tenant's written notice of such default, then Tenant may, at its option, perform
any such maintenance or repairs and the reasonable costs incurred by Tenant in
performing such work shall be reimbursed to Tenant by Landlord within thirty
days after Landlord's receipt of (i) Tenant's invoice for such costs, and (ii)
copies of paid invoices for all such work, and (iii) lien waivers from all
contractors, subcontractors involved in the performance of such work; provided,
however, that if any such default of Landlord cannot with due diligence and
commercially reasonable efforts be cured by Landlord within the thirty (30) day
period after receipt of Tenant's notice, the period for cure by Landlord shall
be extended if, within such thirty (30) day period Landlord commences and
thereafter diligently pursues the cure of any such default. Tenant shall defend,
indemnify and save Landlord harmless from and against any and all claims,
actions, damages, liability and expense in connection with loss of life,
personal injury and/or damage to or interference with property or the premises
of other tenants arising from or out of any exercise of any rights granted to
Tenant under this Article 53.

                  (b) If Landlord fails to reimburse Tenant for any amounts due
to Tenant in accordance with this Article Tenant may, in any Lease Year in which
any such amount is claimed to be owed, offset against Base Rent an amount (the
"Offset Maximum") equal to the lesser of (i) the amount claimed or (ii) one (1)
month's Base Rent at the then current rate. If (a) Tenant obtains a final money
judgement against Landlord (i.e. all appeals have been exhausted) as a result of
Landlord committing a default under the Lease and failing to cure such default
after proper written notice as provided for in this Lease; and (b) Landlord
fails to pay any such judgement within ten (10) days after the entry of such
final judgement, and (c) the holder of any mortgage encumbering the Building
fails to diligently pursue to cure such default after proper written notice from
Tenant, then and only then, shall Tenant have the right to offset against Base
Rent an amount in excess of the Offset Maximum.

         IN WITNESS WHEREOF, the parties hereto have executed this Lease under
seal on the day and year first above written.

ATTEST:                                   LANDLORD: 1100 CORPORATION

____________________________              By: /s/ Philip D. Caraci
                                              ----------------------------------
                                                   Philip D. Caraci, President

ATTEST:                                   TENANT: THE BISYS GROUP, INC.

____________________________              By: /s/ Dennis R. Sheehan
                                              ----------------------------------
                                          Name: Dennis R. Sheehan
                                                --------------------------------
                                          Title: Executive Vice President
                                                 -------------------------------

                                       13<PAGE>   1
                                                                     EXHIBIT 4.3

                      CABLE DESIGN TECHNOLOGIES CORPORATION

                -------------------------------------------------
                                 DEBT SECURITIES

                                    INDENTURE

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

                         DATED AS OF             , 2000

                STATE STREET BANK AND TRUST COMPANY, as Trustee

<PAGE>   2
                          PARTIAL CROSS-REFERENCE TABLE

<TABLE>
<CAPTION>
INDENTURE SECTION                                                  TIA SECTION
<S>                                                                <C>
2.05.........................................................      317(b)
2.06.........................................................      312(a)
2.11.........................................................      316(a)(last sentence)
4.05.........................................................      314(a)(4)
6.03.........................................................      317(a)(1)
6.04.........................................................      316(a)(1)(B)
6.06.........................................................      316(a)(1)(A)
6.07.........................................................      317(a)(1)
7.01.........................................................      315(a), 315(d)
7.04.........................................................      315(b)
7.05.........................................................      313(a)
7.07.........................................................      310(a), 310(b)
7.09.........................................................      310(a)(2)
8.02.........................................................      310(a), 310(b)
9.04.........................................................      316(c)
10.01........................................................      318(a)
10.02........................................................      313(c)
10.03........................................................      314(c)(1), 314(c)(2)
10.04........................................................      314(e)
</TABLE>

                                       ii
<PAGE>   3
                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                                   PAGE
                                                                                                                   ----
<S>                                                                                                                 <C>
ARTICLE 1 - DEFINITIONS...........................................................................................   1
         SECTION 1.01.              Definitions...................................................................   1
         SECTION 1.02.              Other Definitions.............................................................   3
         SECTION 1.03.              Rules of Construction.........................................................   3

ARTICLE 2 - THE SECURITIES........................................................................................   4
         SECTION 2.01.              Issuable in Series............................................................   4
         SECTION 2.02.              Execution and Authentication..................................................   5
         SECTION 2.03.              Agents........................................................................   6
         SECTION 2.04.              Bearer Securities.............................................................   6
         SECTION 2.05.              Paying Agent to Hold Money in Trust...........................................   7
         SECTION 2.06.              Securityholder Lists..........................................................   7
         SECTION 2.07.              Transfer and Exchange.........................................................   8
         SECTION 2.08.              Replacement Securities........................................................   8
         SECTION 2.09.              Outstanding Securities........................................................   8
         SECTION 2.10.              Discounted Debt Securities....................................................   9
         SECTION 2.11.              Treasury Securities...........................................................   9
         SECTION 2.12.              Global Securities.............................................................   9
         SECTION 2.13.              Temporary Securities..........................................................  10
         SECTION 2.14.              Cancellation..................................................................  10
         SECTION 2.15.              Defaulted Interest............................................................  10

ARTICLE 3 - REDEMPTION...........................................................................................   10
         SECTION 3.01.              Notices to Trustee...........................................................   10
         SECTION 3.02.              Selection of Securities to Be Redeemed.......................................   11
         SECTION 3.03.              Notice of Redemption.........................................................   11
         SECTION 3.04.              Effect of Notice of Redemption...............................................   12
         SECTION 3.05.              Payment of Redemption Price..................................................   12
         SECTION 3.06.              Securities Redeemed in Part..................................................   13

ARTICLE 4 - COVENANTS............................................................................................   13
         SECTION 4.01.              Payment of Securities........................................................   13
         SECTION 4.02.              Overdue Interest.............................................................   13
         SECTION 4.03.              Compliance Certificate.......................................................   13
         SECTION 4.04.              SEC Reports..................................................................   13

ARTICLE 5 - SUCCESSORS...........................................................................................   14
         SECTION 5.01.              When Company May Merge, etc..................................................   14

ARTICLE 6 - DEFAULTS AND REMEDIES................................................................................   14
         SECTION 6.01.              Events of Default............................................................   14
         SECTION 6.02.              Acceleration.................................................................   15
         SECTION 6.03.              Other Remedies...............................................................   16
</TABLE>

                                       iii
<PAGE>   4
<TABLE>
<S>                                                                                                                 <C>
         SECTION 6.04.              Waiver of Past Defaults......................................................   16
         SECTION 6.05.              Control by Majority..........................................................   16
         SECTION 6.06.              Limitation on Suits..........................................................   16
         SECTION 6.07.              Collection Suit by Trustee...................................................   17
         SECTION 6.08.              Priorities...................................................................   17

ARTICLE 7 - TRUSTEE..............................................................................................   17
         SECTION 7.01.              Certain Duties and Responsibilities..........................................   17
         SECTION 7.02.              Rights of Trustee............................................................   18
         SECTION 7.03.              Individual Rights of Trustee.................................................   19
         SECTION 7.04.              Trustee's Disclaimer.........................................................   19
         SECTION 7.05.              Notice of Defaults...........................................................   19
         SECTION 7.06.              Reports by Trustee to Holders................................................   19
         SECTION 7.07.              Compensation and Indemnity...................................................   19
         SECTION 7.08.              Replacement of Trustee.......................................................   20
         SECTION 7.09.              Successor Trustee by Merger, etc.............................................   21
         SECTION 7.10.              Trustee's Capital and Surplus................................................   21

ARTICLE 8 - DISCHARGE OF INDENTURE...............................................................................   21
         SECTION 8.01.              Defeasance...................................................................   21
         SECTION 8.02.              Conditions to Defeasance.....................................................   22
         SECTION 8.03.              Application of Trust Money...................................................   22
         SECTION 8.04.              Repayment to Company.........................................................   23

ARTICLE 9 - AMENDMENTS...........................................................................................   23
         SECTION 9.01.              Without Consent of Holders...................................................   23
         SECTION 9.02.              With Consent of Holders......................................................   23
         SECTION 9.03.              Compliance with Trust Indenture Act..........................................   24
         SECTION 9.04.              Effect of Consents...........................................................   24
         SECTION 9.05.              Notation on or Exchange of Securities........................................   25
         SECTION 9.06.              Trustee Protected............................................................   25

ARTICLE 10 - MISCELLANEOUS.......................................................................................   25
         SECTION 10.01.             Trust Indenture Act..........................................................   25
         SECTION 10.02.             Notices......................................................................   25
         SECTION 10.03.             Certificate and Opinion as to Conditions Precedent...........................   26
         SECTION 10.04.             Statements Required in Certificate or Opinion................................   26
         SECTION 10.05.             Rules by Company and Agents..................................................   27
         SECTION 10.06.             No Lien Created, etc.........................................................   27
         SECTION 10.07.             Legal Holidays...............................................................   27
         SECTION 10.08.             No Recourse Against Others...................................................   27
         SECTION 10.09.             Duplicate Originals..........................................................   27
         SECTION 10.10.             Governing Law................................................................   27
</TABLE>

                                       iv
<PAGE>   5
                  INDENTURE dated as of           , 2000 between CABLE DESIGN
TECHNOLOGIES CORPORATION, a corporation organized and existing under the laws of
the State of Delaware (hereinafter called the "Company"), and State Street Bank
and Trust Company, as Trustee ("Trustee"). Each party agrees as follows for the
benefit of the Holders of the Company's debt securities issued under this
Indenture:

                             ARTICLE 1 - DEFINITIONS

SECTION 1.01.              Definitions.

                  "AFFILIATE" means any person directly or indirectly
controlling or controlled by or under direct or indirect common control with the
Company.

                  "AGENT" means any Registrar or Paying Agent.

                  "AUTHORIZED NEWSPAPER" means a newspaper that is:

                  (1) printed in the English language or in an official language
         of the country of publication;

                  (2) customarily published on each business day in the place of
         publication; and

                  (3) of general circulation in the relevant place or in the
         financial community of such place.

                  Whenever successive publications in an Authorized Newspaper
are required, they may be made on the same or different business days and in the
same or different Authorized Newspapers.

                  "BEARER SECURITY" means a Security payable to bearer.

                  "BOARD" means the Board of Directors of the Company or any
         authorized committee of the Board.

                  "CAPITAL STOCK" means any and all shares, interests,
participations or other equivalents (however designated) of capital stock of any
person and all warrants or options to acquire such capital stock.

                  "COMPANY" means the party named as such above until a
successor replaces it and thereafter means the successor.

                  "CORPORATE TRUST OFFICE" shall mean an office of the Trustee
at which at any particular time its corporate trust business shall be
administered, which office at the date of the execution of this Indenture is
located at 2 Avenue de Lafayette, Boston, Massachusetts 02111-1724, Attention:
Corporate Trust/LCC6, or at any other time at such other address as the Trustee
may designate from time to time by notice to the Holders.

                  "COUPON" means an interest coupon for a Bearer Security.

                  "DEFAULT" means any event which is, or after notice or passage
of time would be, an Event of Default (as defined below).
<PAGE>   6
                  "DISCOUNTED DEBT SECURITY" means a Security where the amount
of principal due upon acceleration is less than the stated principal amount.

                  "HOLDER" or "SECURITYHOLDER" means the person in whose name a
Registered Security is registered and the bearer of a Bearer Security or coupon.

                  "INDENTURE" means this Indenture and any Securities Resolution
as amended from time to time.

                  "LIEN" means mortgage, pledge, security interest or other
lien.

                  "OFFICER" means the Chairman, any Vice-Chairman, the
President, any Executive or Senior Vice President, any Vice-President, the
Treasurer or any Assistant Treasurer, the Secretary or any Assistant Secretary
of the Company.

                  "OFFICERS' CERTIFICATE" means a certificate signed by two
Officers of the Company, and delivered to the Trustee.

                  "OPINION OF COUNSEL" means a written opinion from legal
counsel who is acceptable to the Trustee, and delivered to the Trustee. The
counsel may be an employee of or counsel to the Company.

                  "PERSON" means any individual, corporation, partnership, joint
venture, association, joint-stock company, trust, unincorporated organization or
government or any agency or political subdivision thereof.

                  "PRINCIPAL" of a debt security means the principal of the
security plus the premium, if and when applicable, on the security.

                  "REGISTERED SECURITY" means a Security registered as to
principal and interest by the Registrar.

                  "SEC" means the Securities and Exchange Commission.

                  "SECURITIES" means the debt securities issued under this
Indenture.

                  "SECURITIES RESOLUTION" means a resolution authorizing a
series adopted by the Board or by a committee of Officers or an Officer pursuant
to Board delegation.

                  "SERIES" means a series of Securities or the Securities of the
series.

                  "SUBSIDIARY" of any person means (i) a corporation more than
50% of the outstanding voting stock of which is owned, directly or indirectly,
by such person or by one or more other Subsidiaries of such person or by such
person and one or more Subsidiaries thereof or (ii) any other person (other than
a corporation) in which such person, or one or more Subsidiaries of such person
or such person and one or more Subsidiaries thereof, directly or indirectly, has
at least a majority ownership and power to direct the policy, management and
affairs thereof.

                                        2
<PAGE>   7
                  "TIA" means the Trust Indenture Act of 1939 (15 U.S.
Code Section 77aaa-77bbbb), as amended.

                  "TRADING DAY" means each day on which the securities exchange
or quotation system which is used to determine the Market Price is open for
trading or quotation.

                  "TRUSTEE" means the party named as such above until a
successor replaces it and thereafter means the successor.

                  "TRUST OFFICER" when used with respect to the Trustee, means
any officer assigned to the Corporate Trust Office, having direct responsibility
for the administration of this Indenture, and also, with respect to a particular
matter, any other officer, to whom such matter is referred because of such
officer's knowledge of and familiarity with the particular subject.

                  "UNITED STATES" means the United States of America, its
territories and possessions and other areas subject to its jurisdiction.

SECTION 1.02.              Other Definitions.

<TABLE>
<CAPTION>
                           TERM                                               DEFINED IN SECTION
<S>                                                                           <C>
"ACTUAL KNOWLEDGE"                                                                   7.01
"BANKRUPTCY LAW"                                                                     6.01
"CONDITIONAL REDEMPTION"                                                             3.04
"CUSTODIAN"                                                                          6.01
"LEGAL HOLIDAY"                                                                      10.06
"PAYING AGENT"                                                                       2.03
"REGISTRAR"                                                                          2.03
"TREASURY REGULATIONS"                                                               2.04
"U.S. GOVERNMENT OBLIGATIONS"                                                        8.02
</TABLE>

SECTION 1.03.              Rules of Construction.

                  Unless the context otherwise requires:

                  (1)      a term has the meaning assigned to it;

                  (2)      an accounting term not otherwise defined has the
                           meaning assigned to it in accordance with generally
                           accepted accounting principles in the United States;

                  (3)      generally accepted accounting principles are those
                           applicable from time to time;

                  (4)      all terms used in this Indenture that are defined by
                           the TIA, defined by TIA reference to another statute
                           or defined by SEC rule under the TIA have the
                           meanings assigned to them by such definitions;

                  (5)      "OR" is not exclusive; and

                                        3
<PAGE>   8
                  (6)      words in the singular include the plural, and in the
                           plural include the singular.

                           ARTICLE 2 - THE SECURITIES

SECTION 2.01.              Issuable in Series.

                  The aggregate principal amount of Securities that may be
issued under this Indenture is unlimited. The Securities may be issued from time
to time in one or more series. Each series shall be created by a Securities
Resolution that establishes the terms of the series, which may include the
following:

                  (1)      the title of the series;

                  (2)      the aggregate principal amount of the series;

                  (3)      the interest rate, if any, or method of calculating
                           the interest rate;

                  (4)      the date from which interest will accrue;

                  (5)      the record dates for interest payable on Registered
                           Securities;

                  (6)      the dates when principal and interest are payable;

                  (7)      the manner of paying principal and interest;

                  (8)      the places where principal and interest are payable;

                  (9)      the Registrar and Paying Agent;

                  (10)     the terms of any mandatory or optional redemption by
                           the Company or any third party including any sinking
                           fund;

                  (11)     the terms of any redemption at the option of Holders
                           or put by the Holders;

                  (12)     the denominations in which Securities are issuable;

                  (13)     whether Securities will be issuable as Registered
                           Securities, Bearer Securities or uncertificated
                           Securities;

                  (14)     whether and upon what terms Registered Securities,
                           Bearer Securities and uncertificated Securities may
                           be exchanged;

                  (15)     whether any Securities will be represented by a
                           Security in global form;

                  (16)     the terms of any global Security;

                                        4
<PAGE>   9
                  (17)     the terms of any tax indemnity;

                  (18)     the currencies (including any composite currency) in
                           which principal or interest may be paid;

                  (19)     if payments of principal or interest may be made in a
                           currency other than that in which Securities are
                           denominated, the manner for determining such
                           payments;

                  (20)     if amounts of principal or interest may be determined
                           by reference to an index, formula or other method,
                           the manner for determining such amounts;

                  (21)     provisions for electronic issuance of Securities or
                           for Securities in uncertificated form;

                  (22)     the portion of principal payable upon acceleration of
                           a Discounted Debt Security;

                  (23)     whether any Events of Default or covenants in
                           addition to or in lieu of those set forth in this
                           Indenture have been added;

                  (24)     whether and upon what terms Securities may be
                           defeased;

                  (25)     the forms of the Securities or any coupon, which may
                           be in the form of Exhibit A or B;

                  (26)     any terms that may be required by or advisable under
                           U.S. laws; and

                  (27)     any other terms not inconsistent with this Indenture.

                  All Securities of one series need not be issued at the same
time and, unless otherwise provided, a series may be reopened for issuances of
additional Securities of such series.

                  The creation and issuance of a series and the authentication
and delivery thereof are not subject to any conditions precedent.

SECTION 2.02.              Execution and Authentication.

                  Two Officers shall sign the Securities by manual or facsimile
signature. The Company's seal shall be reproduced on the Securities. An Officer
shall sign any coupons by facsimile signature.

                  If an Officer whose signature is on a Security or its coupons
no longer holds that office at the time the Security is authenticated or
delivered, the Security and coupons shall nevertheless be valid.

                  A Security and its coupons shall not be valid until the
Security is authenticated by the manual signature of the Trustee. The signature
shall be conclusive evidence that the Security has been authenticated under this
Indenture.

                                        5
<PAGE>   10
                  Each Registered Security shall be dated the date of its
authentication. Each Bearer Security shall be dated the date of its original
issuance or as provided in the Securities Resolution.

                  Securities may have notations, legends or endorsements
required by law, stock exchange rule, agreement or usage.

                  In the event Securities are issued in electronic or other
uncertificated form, such Securities may be validly issued without the
signatures or seal contemplated by this Section 2.02.

                  The Trustee may appoint an authenticating agent acceptable to
the Company to authenticate Securities. An authenticating agent may authenticate
Securities whenever the Trustee may do so. Each reference in this Indenture to
authentication by the Trustee includes authentication by such agent. An
authenticating agent has the same rights as an Agent to deal with the Company or
an Affiliate.

SECTION 2.03.              Agents.

                  The Company shall maintain an office or agency where
Securities may be presented for registration of transfer or for exchange
("Registrar") and an office or agency where Securities may be presented for
payment ("Paying Agent"). The Registrar shall keep a register of the Securities
and of their transfer and exchange.

                  The Company may appoint more than one Registrar or Paying
Agent for a series. The Company shall notify the Trustee in writing of the name
and address of any Agent not a party to this Indenture. If the Company does not
appoint or maintain a Registrar or Paying Agent for a series, the Trustee shall
act as such.

SECTION 2.04.              Bearer Securities.

                  U.S. laws and Treasury Regulations restrict sales or exchanges
of and payments on Bearer Securities. Therefore, except as provided below:

                  (1)      Bearer Securities will be offered, sold or delivered
                           only outside the United States and will be delivered
                           in connection with its original issuance only upon
                           presentation of a certificate in a form prescribed by
                           the Company to comply with U.S. laws and regulations.

                  (2)      Bearer Securities will not be issued in exchange for
                           Registered Securities.

                  (3)      All payments of principal and interest (including
                           original issue discount) on Bearer Securities will be
                           made outside the United States by a Paying Agent
                           located outside the United States unless the Company
                           determines that:

                           (A)      such payments may not be made by such Paying
                                    Agent because the payments are illegal or
                                    prevented by exchange controls as described
                                    in Treasury Regulation Section
                                    1.163-5(c)(2)(v); and

                                        6
<PAGE>   11
                           (B)      making the payments in the United States
                                    would not have an adverse tax effect on the
                                    Company.

                  If there is a change in the relevant provisions of U.S. laws
or Treasury Regulations or the judicial or administrative interpretation
thereof, a restriction set forth in paragraph (1), (2) or (3) above will not
apply to a series if the Company determines that the relevant provisions no
longer apply to the series or that failure to comply with the relevant
provisions would not have an adverse tax effect on the Company or on
Securityholders or cause the series to be treated as "registration-required"
obligations under U.S. law.

                  The Company shall notify the Trustee in writing of any
determinations by the Company under this Section.

                  "TREASURY REGULATIONS" means regulations of the U.S. Treasury
Department under the Internal Revenue Code of 1986, as amended.

SECTION 2.05.              Paying Agent to Hold Money in Trust.

                  The Company shall require each Paying Agent for a series other
than the Trustee to agree in writing that the Paying Agent will hold in trust
for the benefit of the persons entitled thereto all money held by the Paying
Agent for the payment of principal of or interest on the series, and will notify
the Trustee in writing of any default by the Company in making any such payment.

                  While any such default continues, the Trustee may require a
Paying Agent to pay all money so held by it to the Trustee. The Company at any
time may require a Paying Agent to pay all money held by it to the Trustee. Upon
payment over to the Trustee, the Paying Agent shall have no further liability
for the money.

                  If the Company or an Affiliate acts as Paying Agent for a
series, it shall segregate and hold as a separate trust fund all money held by
it as Paying Agent for the series.

SECTION 2.06.              Securityholder Lists.

                  The Trustee shall preserve in as current a form as is
reasonably practicable the most recent list available to it of the names and
addresses of Securityholders. If the Trustee is not the Registrar, the Company
shall furnish to the Trustee semiannually and at such other times as the Trustee
may request a list in such form and as of such date as the Trustee may
reasonably require of the names and addresses of Holders of Registered
Securities and Holders of Bearer Securities whose names are on the list referred
to below.

                  The Registrar shall keep a list of the names and addresses of
Holders of Bearer Securities who file a request to be included on such list. A
request will remain in effect for two years, and successive requests may be
made.

                  Whenever the Company or the Trustee is required to mail a
notice to all Holders of Registered Securities of a series, it also shall mail
the notice to Holders of Bearer Securities of the series whose names are on the
list.

                                        7
<PAGE>   12
                  Whenever the Company is required to publish a notice to all
Holders of Bearer Securities of a series, it also shall mail the notice to such
of them whose names are on the list.

SECTION 2.07.              Transfer and Exchange.

                  Where Registered Securities of a series are presented to the
Registrar with a request to register a transfer or to exchange them for an equal
principal amount of Registered Securities of other denominations of the same
series, the Registrar shall register the transfer or make the exchange if its
requirements for such transactions are met. To permit registrations of transfer
and exchanges, the Trustee shall authenticate Registered Securities and Bearer
Securities at the Registrar's written request.

                  The Registrar may require a Holder to pay a sum sufficient to
cover any taxes imposed on a transfer or exchange, and may require that every
Security presented or surrendered for transfer or exchange be duly endorsed or
be accompanied by a written instrument of transfer in form satisfactory to the
Company and the Registrar, duly executed by the Holder thereof or such Holder's
attorney duly authorized in writing.

                  If a series provides for Registered and Bearer Securities and
for their exchange, Bearer Securities may be exchanged for Registered Securities
and Registered Securities may be exchanged for Bearer Securities as provided in
the Securities or the Securities Resolution if the requirements of the Registrar
for such transactions are met and in the case of the exchange of registered
securities for bearer securities if Section 2.04 permits the exchange.

                  The Company may elect not to exchange or register the transfer
of any Security for a period of 15 days before a selection of Securities to be
redeemed.

                  Neither the Trustee nor the Registrar shall be responsible
for determining whether any transfer of a Security complies with, or under a
duty to monitor compliance with, any federal or state securities laws that may
be applicable (including without limitation, the Securities Act or any
particular rule or regulation promulgated thereunder); provided, however, that
if a specific transfer certificate or opinion of counsel is expressly required
by the terms of the applicable Securities Resolution for such series of
Securities to be delivered to the Trustee or Registrar prior to the
registration of a proposed transfer, the Trustee or Registrar, as the case may
be, shall be under a duty to receive such certificate or opinion of counsel
prior to registration of such transfer and to examine the same to determine
whether it conforms on its face to the applicable requirements of such
Securities Resolution.

SECTION 2.08.              Replacement Securities.

                  If the Holder of a Security or coupon claims that it has been
lost, destroyed or wrongfully taken, then, in the absence of notice to the
Company or the Trustee that the Security or coupon has been acquired by a
protected purchaser, the Company shall issue a replacement Security or coupon if
the Company and the Trustee receive:

                  (1)      evidence satisfactory to them of the loss,
                           destruction or taking;

                  (2)      an indemnity bond satisfactory to them; and

                  (3)      payment of a sum sufficient to cover their expenses
                           and any taxes for replacing the Security or coupon.

A replacement Security shall have coupons attached corresponding to those, if
any, on the replaced Security.

                  Every replacement Security or coupon is an additional
obligation of the Company.

SECTION 2.09.              Outstanding Securities.

                  The Securities outstanding at any time are all the Securities
authenticated by the Trustee except for those cancelled by it, those delivered
to it for cancellation, and those described in this Section as not outstanding.

                                        8
<PAGE>   13
                  If a Security is replaced pursuant to Section 2.08, it ceases
to be outstanding unless the Trustee and the Company receive proof satisfactory
to them that the replaced Security is held by a protected purchaser.

                  If Securities are considered paid under Section 4.01, they
cease to be outstanding and interest on them ceases to accrue.

                  A Security does not cease to be outstanding because the
Company or an Affiliate holds the Security.

SECTION 2.10.              Discounted Debt Securities.

                  In determining whether the Holders of the required principal
amount of Securities have concurred in any direction, waiver or consent, the
principal amount of a Discounted Debt Security shall be the amount of principal
that would be due as of the date of such determination if payment of the
Security were accelerated on that date.

SECTION 2.11.              Treasury Securities.

                  In determining whether the Holders of the required principal
amount of Securities have concurred in any direction, waiver or consent,
Securities owned by the Company or an Affiliate shall be disregarded, except
that for the purposes of determining whether the Trustee shall be protected in
relying on any such direction, waiver or consent, only Securities which the
Trustee actually knows are so owned shall be so disregarded.

SECTION 2.12.              Global Securities.

                  If the Securities Resolution so provides, the Company may
issue some or all of the Securities of a series in temporary or permanent global
form. A global Security may be in registered form, in bearer form with or
without coupons or in uncertificated form. A global Security shall represent
that amount of Securities of a series as specified in the global Security or as
endorsed thereon from time to time. At the Company's request, or as otherwise
provided in the applicable Securities Resolution, the Trustee shall endorse a
global Security to reflect the amount of any increase or decrease in the
Securities represented thereby.

                  The Company may issue a global Security only to a depository
designated by the Company. A depository may transfer a global Security only as a
whole to its nominee or to a successor depository.

                  The Securities Resolution may establish, among other things,
the manner of paying principal and interest on a global Security and whether and
upon what terms a beneficial owner of an interest in a global Security may
exchange such interest for definitive Securities.

                  The Company, an Affiliate, the Trustee and any Agent shall not
be responsible for any acts or omissions of a depository, for any depository
records of beneficial ownership interests or for any transactions between the
depository and beneficial owners. Prior to due presentment of a Security for
registration of transfer, the Company, the Trustee, the Registrar and any agent
of the Company or the Trustee may treat the Person in whose name such Security
is registered as the owner of such Security for the purpose of receiving any
payment on or in respect of such Security and for all other purposes whatsoever,
whether or not such Security is overdue, and neither the Company, the Trustee,
the Registrar nor any agent of the Company or the Trustee shall be affected by
notice to the contrary. Notwithstanding the foregoing, with respect to any
global Security, nothing herein shall prevent the Company, the Trustee, the
Registrar or any agent of the Company or the Trustee, from giving effect to any
written certification, proxy or other authorization furnished by any depositary,
as a Holder, with respect to such global Security or impair, as between such
depositary and owners of beneficial interests in such global Security, the
operation of customary practices governing the exercise of the rights of such
depositary (or its nominee) as a Holder of such global Security.

                                        9
<PAGE>   14
SECTION 2.13.              Temporary Securities.

                  Until definitive Securities of a series are ready for
delivery, the Company may use temporary Securities. Temporary Securities shall
be substantially in the form of definitive Securities but may have variations
that the Company considers appropriate for temporary Securities. Temporary
Securities may be in global form. Temporary Bearer Securities may have one or
more coupons or no coupons. Without unreasonable delay, the Company shall
prepare and the Trustee shall authenticate definitive Securities in exchange for
temporary Securities.

SECTION 2.14.              Cancellation.

                  The Company at any time may deliver Securities to the Trustee
for cancellation. The Registrar and the Paying Agent shall forward to the
Trustee any Securities and coupons surrendered to them for payment, exchange or
registration of transfer. The Trustee shall cancel all Securities or coupons
surrendered for payment, registration of transfer, exchange or cancellation. The
Trustee also will cancel all Bearer Securities and unmatured coupons unless the
Company requests the Trustee to hold the same for redelivery. Any Bearer
Securities so held shall be considered delivered for cancellation under Section
2.09. The Trustee shall dispose of cancelled Securities and coupons in
accordance with its record retention policies in effect at the time or shall
deliver them to the Company upon the written request of the Company.

                  Unless the Securities Resolution otherwise provides, the
Company may not issue new Securities to replace Securities that the Company has
paid or that the Company has delivered to the Trustee for cancellation.

SECTION 2.15.              Defaulted Interest.

                  If the Company defaults in a payment of interest on Registered
Securities, it need not pay the defaulted interest to Holders on the regular
record date. The Company may fix a special record date for determining Holders
entitled to receive defaulted interest, or the Company may pay defaulted
interest in any other lawful manner. At least ___ days before the special record
date, the Company shall give the Holders of Registered Securities a notice that
states the record date, payment date and amount of interest to be paid.

                             ARTICLE 3 - REDEMPTION

SECTION 3.01.              Notices to Trustee.

                  Securities of a series that are redeemable before maturity
shall be redeemable in accordance with their terms and, unless the Securities
Resolution otherwise provides, in accordance with this Article.

                  In the case of a redemption by the Company, the Company shall
notify the Trustee in writing of the redemption date and the principal amount of
Securities to be redeemed. The Company shall notify the Trustee at least 60 days
before the redemption date unless a shorter notice is satisfactory to the
Trustee.

                                       10
<PAGE>   15
                  If the Company is required to redeem Securities, it may reduce
the principal amount of Securities required to be redeemed to the extent that it
is permitted a credit against such redemption requirement by the terms of the
Securities Resolution and notifies the Trustee of the amount of such credit and
the basis for it. If the reduction is based on a credit for acquired or redeemed
Securities that the Company has not previously delivered to the Trustee for
cancellation, the Company shall deliver the Securities at the same time as the
notice.

SECTION 3.02.              Selection of Securities to Be Redeemed.

                  If less than all the Securities of a series are to be
redeemed, the Trustee shall select the Securities to be redeemed from Securities
outstanding not previously called for redemption by a method the Trustee
considers fair and appropriate. The Trustee shall make the selection from
Securities of the series outstanding not previously called for redemption. The
Trustee may select for redemption portions of the principal of Securities having
denominations larger than the minimum denomination for the series. Securities
and portions thereof selected for redemption shall be in amounts equal to the
minimum denomination for the series or an integral multiple thereof. Provisions
of this Indenture that apply to Securities called for redemption also apply to
portions of Securities called for redemption.

SECTION 3.03.              Notice of Redemption.

                  At least 30 days before a redemption date, the Company shall
mail a notice of redemption by first-class mail to each Holder of Registered
Securities whose Securities are to be redeemed.

                  If Bearer Securities are to be redeemed, the Company shall
publish a notice of redemption in an Authorized Newspaper as provided in the
Securities.

                  A notice shall identify the Securities of the series to be
redeemed and shall state:

                  (1)      the redemption date;

                  (2)      the redemption price;

                  (3)      the name and address of the Paying Agent;

                  (4)      that Securities called for redemption, together with
                           all coupons, if any, maturing after the redemption
                           date, must be surrendered to the Paying Agent to
                           collect the redemption price;

                  (5)      that interest on Securities called for redemption
                           ceases to accrue on and after the redemption date;

                  (6)      whether the redemption by the Company is mandatory or
                           optional; and

                  (7)      whether the redemption is conditional as provided in
                           Section 3.04, and if so, the terms of the conditions,
                           and that, if the conditions are not satisfied or are
                           not waived by the Company, the Securities will not be
                           redeemed and such a failure to redeem will not
                           constitute an Event of Default.

                                       11
<PAGE>   16
                  A redemption notice given by publication need not identify
Registered Securities to be redeemed.

                  At the Company's written request, given on a timely basis the
Trustee shall give the notice of redemption in the Company's name and at its
expense.

SECTION 3.04.              Effect of Notice of Redemption.

                  Except as provided below, once notice of redemption is given,
Securities called for redemption become due and payable on the redemption date
at the redemption price stated in the notice.

                  A notice of redemption may provide that it is subject to the
occurrence of any event before the date fixed for such redemption as described
in such notice ("Conditional Redemption"), and such notice of Conditional
Redemption shall be of no effect unless all such conditions to the redemption
have occurred on or before such date or have been waived by the Company in its
sole discretion.

SECTION 3.05.              Payment of Redemption Price.

                  On or before the redemption date, the Company shall deposit
with the Paying Agent money sufficient to pay the redemption price of and
accrued interest on all Securities to be redeemed on that date.

                  When the Holder of a Security surrenders it for redemption in
accordance with the redemption notice, the Company shall pay to the Holder on
the redemption date the redemption price and accrued interest to such date,
except that:

                  (1)      the Company will pay any such interest (except
                           defaulted interest) to Holders on the record date of
                           Registered Securities if the redemption date occurs
                           on an interest payment date; and

                  (2)      the Company will pay any such interest to Holders of
                           coupons that mature on or before the redemption date
                           upon surrender of such coupons to the Paying Agent.

                  Coupons maturing after the redemption date on a called
Security are void absent a payment default on that date. Nevertheless, if a
Holder surrenders for redemption a Bearer Security missing any such coupons, the
Company may deduct the face amount of such coupons from the redemption price. If
thereafter the Holder surrenders to the Paying Agent the missing coupons, the
Company will return the amount so deducted. The Company may waive surrender of
the missing coupons if it receives an indemnity bond satisfactory to the
Company.

SECTION 3.06.              Securities Redeemed in Part.

                  Upon surrender of a Security that is redeemed in part, the
Trustee shall authenticate for the Holder and the Company shall deliver to the
Holder a new Security of the same series equal in principal amount to the
unredeemed portion of the Security surrendered.

                                       12
<PAGE>   17
                              ARTICLE 4 - COVENANTS

SECTION 4.01.              Payment of Securities.

                  The Company shall pay the principal of and interest on a
series in accordance with the terms of the Securities for the series, any
related coupons, and this Indenture. Principal and interest on a series shall be
considered paid on the date due if the Paying Agent for the series holds on that
date money sufficient to pay all principal and interest then due on the series.

SECTION 4.02.              Overdue Interest.

                  Unless the Securities Resolution otherwise provides, the
Company shall pay interest on overdue principal of a Security of a series at the
rate (or yield to maturity in the case of a Discounted Debt Security) borne by
the series; the Company shall pay interest on overdue installments of interest
at the same rate or yield to maturity to the extent lawful.

SECTION 4.03.              Compliance Certificate.

                  The Company shall deliver to the Trustee, within 120 days
after the end of each fiscal year of the Company, a brief certificate signed by
the principal executive officer, principal financial officer or principal
accounting officer of the Company, as to the signer's knowledge of the Company's
compliance with all conditions and covenants under this Indenture (determined
without regard to any period of grace or requirement of notice provided herein).

                  Any other obligor on the Securities shall also deliver to the
Trustee such a certificate as to its compliance with this Indenture within 120
days after the end of each of its fiscal years.

                  The certificates need not comply with Section 10.04.

SECTION 4.04.              SEC Reports.

                  Unless the Securities Resolution otherwise provides, the
Company shall file with the Trustee, within 15 days after the Company is
required to file the same with the SEC, copies of the annual reports and of the
information, documents, and other reports (or such portions of the foregoing as
the SEC may prescribe) which the Company is required to file with the SEC
pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. The
filing of any reports hereunder with the Trustee by the Company shall not
impose or imply any duty or obligation on the part of the Trustee to examine or
evaluate the same.

                  Any other obligor on the Securities shall do likewise as to
the above items which it is required to file with the SEC pursuant to those
sections.

                             ARTICLE 5 - SUCCESSORS

SECTION 5.01.              When Company May Merge, etc.

                  Unless the Securities Resolution establishing a series
otherwise provides with respect to that series, the Company shall not
consolidate with or merge into, or transfer all or substantially all of its
assets to, any person in any transaction in which the Company is not the
survivor unless:

                                       13
<PAGE>   18
                  (1)      the person is organized under the laws of the United
                           States or a State thereof or is organized under the
                           laws of a foreign jurisdiction and consents to the
                           jurisdiction of the courts of the United States or a
                           State thereof;

                  (2)      the person assumes by supplemental indenture all the
                           obligations of the Company under this Indenture, the
                           Securities and any coupons; and

                  (3)      immediately after the transaction no Default exists.

                  The successor shall be substituted for the Company, and
thereafter all obligations of the Company under this Indenture, the Securities
and any coupons shall terminate.

                        ARTICLE 6 - DEFAULTS AND REMEDIES

SECTION 6.01.              Events of Default.

                  Unless the Securities Resolution otherwise provides, an "Event
of Default" on a series occurs if:

                  (1)      the Company defaults in any payment of interest on
                           any Securities of the series when the same becomes
                           due and payable and the Default continues for a
                           period of 60 days;

                  (2)      the Company defaults in the payment of the principal
                           or premium, if any, of any Securities of the series
                           when the same becomes due and payable at maturity or
                           upon redemption, acceleration or otherwise, and such
                           default shall continue for five or more days;

                  (3)      the Company defaults in the payment or satisfaction
                           of any sinking fund obligation with respect to any
                           Securities of the series as required by the
                           Securities Resolution establishing such series and
                           the Default continues for a period of 60 days;

                  (4)      the Company defaults in the performance of any of its
                           other agreements applicable to the series and the
                           Default continues for 90 days after the notice
                           specified below;

                  (5)      the Company pursuant to or within the meaning of any
                           Bankruptcy Law:

                           (A)      commences a voluntary case,

                           (B)      consents to the entry of an order for relief
                                    against it in an involuntary case,

                           (C)      consents to the appointment of a Custodian
                                    for it or for all or substantially all of
                                    its property, or

                                       14
<PAGE>   19
                           (D)      makes a general assignment for the benefit
                                    of its creditors;

                  (6)      a court of competent jurisdiction enters an order or
                           decree under any Bankruptcy Law that:

                           (A)      is for relief against the Company in an
                                    involuntary case,

                           (B)      appoints a Custodian for the Company or for
                                    all or substantially all of its property, or

                           (C)      orders the liquidation of the Company;

                           (D)      and the order or decree remains unstayed and
                                    in effect for 60 days; or

                  (7) there occurs any other Event of Default provided for in
the Securities Resolution for the series.

                  The term "BANKRUPTCY LAW" means Title 11, U.S. Code or any
similar Federal or State law for the relief of debtors. The term "CUSTODIAN"
means any receiver, trustee, assignee, liquidator or a similar official under
any Bankruptcy Law.

                  A Default under clause (4) is not an Event of Default until
the Trustee or the Holders of at least 25% in principal amount of the series
notify the Company of the Default and the Company does not cure the Default
within the time specified after receipt of the notice. The notice must specify
the Default, demand that it be remedied and state that the notice is a "Notice
of Default." If Holders notify the Company of a Default, they shall notify the
Trustee at the same time.

                  The failure to redeem any Security subject to a Conditional
Redemption is not an Event of Default if any event on which such redemption is
so conditioned does not occur and is not waived before the scheduled redemption
date.

SECTION 6.02.              Acceleration.

                  If an Event of Default occurs and is continuing on a series,
the Trustee by notice to the Company, or the Holders of at least 25% in
principal amount of the series by notice to the Company and the Trustee, may
declare the principal of and accrued interest on all the Securities of the
series to be due and payable immediately. Discounted Debt Securities may provide
that the amount of principal due upon acceleration is less than the stated
principal amount.

                  The Holders of a majority in principal amount of the series by
notice to the Trustee may rescind an acceleration and its consequences if the
rescission would not conflict with any judgment or decree and if all existing
Events of Default on the series have been cured or waived except nonpayment of
principal or interest that has become due solely because of the acceleration.

                                       15
<PAGE>   20
SECTION 6.03.              Other Remedies.

                  If an Event of Default occurs and is continuing on a series,
the Trustee may pursue any available remedy to collect principal or interest
then due on the series, to enforce the performance of any provision applicable
to the series, or otherwise to protect the rights of the Trustee and Holders of
the series.

                  The Trustee may maintain a proceeding even if it does not
possess any of the Securities or coupons or does not produce any of them in the
proceeding. A delay or omission by the Trustee or any Securityholder in
exercising any right or remedy accruing upon an Event of Default shall not
impair the right or remedy or constitute a waiver of or acquiescence in the
Event of Default. All remedies are cumulative to the extent permitted by law.

SECTION 6.04.              Waiver of Past Defaults.

                  Unless the Securities Resolution otherwise provides, the
Holders of a majority in principal amount of a series by notice to the Trustee
may waive an existing Default on the series and its consequences except:

                  (1)      a Default in the payment of the principal of or
                           interest on the series, or

                  (2)      a Default in respect of a provision that under
                           Section 9.02 cannot be amended without the consent of
                           each Securityholder affected.

                  (3)      a Default in respect of a provision for the personal
                           benefit or protection of the Trustee, without the
                           Trustee's consent.

SECTION 6.05.              Control by Majority.

                  The Holders of a majority in principal amount of a series may
direct the time, method and place of conducting any proceeding for any remedy
available to the Trustee, or of exercising any trust or power conferred on the
Trustee, with respect to the series. However, the Trustee may refuse to follow
any direction that conflicts with law or this Indenture, is unduly prejudicial
to the rights of other Securityholders or if the Trustee shall determine that
the action or direction might involve the Trustee in personal liability.

SECTION 6.06.              Limitation on Suits.

                  A Securityholder of a series may pursue a remedy with respect
to the series only if:

                  (1)      the Holder gives to the Trustee notice of a
                           continuing Event of Default on the series;

                  (2)      the Holders of at least 25% in principal amount of
                           the series make a request to the Trustee to pursue
                           the remedy;

                  (3)      such Holder or Holders offer to the Trustee indemnity
                           satisfactory to the Trustee against any loss,
                           liability or expense;

                                       16
<PAGE>   21
                  (4)      the Trustee does not comply with the request within
                           60 days after receipt of the request and the offer of
                           indemnity; and

                  (5)      during such 60-day period the Holders of a majority
                           in principal amount of the series do not give the
                           Trustee a direction inconsistent with such request.

                  A Securityholder may not use this Indenture to prejudice the
rights of another Securityholder or to obtain a preference or priority over
another Securityholder.

SECTION 6.07.              Collection Suit by Trustee.

                  If an Event of Default in payment of interest, principal or
sinking fund specified in Section 6.01(1), (2) or (3) occurs and is continuing
on a series, the Trustee may recover judgment in its own name and as trustee of
an express trust against the Company for the whole amount of principal and
interest remaining unpaid on the series.

SECTION 6.08.              Priorities.

                  If the Trustee collects any money for a series pursuant to
this Article, it shall pay out the money in the following order:

                  First:  to the Trustee for amounts due under Section 7.07;

                  Second: to Securityholders of the series for amounts due and
         unpaid for principal and interest, ratably, without preference or
         priority of any kind, according to the amounts due and payable for
         principal and interest, respectively; and

                  Third:  to the Company.

                  The Trustee may fix a payment date for any payment to
Securityholders.

                               ARTICLE 7 - TRUSTEE

SECTION 7.01.              Certain Duties and Responsibilities.

                  The duties and responsibilities of the Trustee shall be as
provided by the Trust Indenture Act. Notwithstanding the foregoing, no provision
of this Indenture shall require the Trustee to expend or risk its own funds or
otherwise incur any financial liability in the performance of any of its duties
hereunder, or in the exercise of any of its rights or powers, if it shall have
reasonable grounds for believing that repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured to it.
Whether or not therein expressly so provided, every provision of this Indenture
relating to the conduct or affect the liability of or affording protection to
the Trustee shall be subject to the provisions of this Section.

                                       17
<PAGE>   22
SECTION 7.02.              Rights of Trustee.

                  (1)      The Trustee may rely on any document believed by it
                           to be genuine and to have been signed or presented by
                           the proper person. The Trustee need not investigate
                           any fact or matter stated in the document.

                  (2)      Before the Trustee acts or refrains from acting, it
                           may require an Officers' Certificate and/or an
                           Opinion of Counsel. The Trustee shall not be liable
                           for any action it takes or omits to take in good
                           faith in reliance on the Certificate or Opinion.

                  (3)      The Trustee may act through agents, attorneys,
                           custodians and nominees and shall not be responsible
                           for the misconduct or negligence of any agent,
                           attorney, custodian or nominee appointed with due
                           care.

                  (4)      The Trustee shall not be liable for any action it
                           takes or omits to take in good faith in accordance
                           with a direction received by it pursuant to Section
                           6.05.

                  (5)      The Trustee may refuse to perform any duty or
                           exercise any right or power which it reasonably
                           believes may expose it to any loss, liability or
                           expense unless it receives indemnity satisfactory to
                           it against such loss, liability or expense.

                  (6)      The Trustee shall not be liable for interest on any
                           money received by it except as the Trustee may agree
                           with the Company. Money held in trust by the Trustee
                           need not be segregated from other funds except to the
                           extent required by law.

                  (7)      The Trustee shall have no duty with respect to a
                           Default unless it has actual knowledge of the
                           Default. As used herein, the term "actual knowledge"
                           means the actual fact or statement of knowing,
                           without any duty to make any investigation with
                           regard thereto.

                  (8)      The Trustee shall not be liable for any action it
                           takes or omits to take in good faith which it
                           believes to be authorized and within its powers.

                  (9)      Any Agent shall have the same rights and be protected
                           to the same extent as if it were Trustee.

                  (10)     The Trustee shall not be required to give any bond or
                           surety in respect of the performance of its powers
                           and duties hereunder.

                  (11)     The Trustee shall be under no obligation to exercise
                           any of the rights or powers vested in it by this
                           Indenture at the request or direction of any of the
                           Holders pursuant to this Indenture, unless such
                           Holders shall have offered to the Trustee reasonable
                           security or indemnity against the costs, expenses and
                           liabilities which might be incurred by it in
                           compliance with such request or direction;

                  (12)     Any permissive power or authority granted to the
                           Trustee under this Indenture shall not be conserved
                           to be a duty.

                                       18
<PAGE>   23
SECTION 7.03.              Individual Rights of Trustee.

                  The Trustee in its individual or any other capacity may become
the owner or pledgee of Securities or coupons and may otherwise deal with the
Company or an Affiliate with the same rights it would have if it were not
Trustee. Any Agent may do the same with like rights.

SECTION 7.04.              Trustee's Disclaimer.

                  The Trustee makes no representation as to the validity or
adequacy of this Indenture or the Securities or any coupons; it shall not be
accountable for the Company's use of the proceeds from the Securities; it shall
not be responsible for any statement in the Securities or any coupons other than
its authentication.

SECTION 7.05.              Notice of Defaults.

                  If a Default occurs and is continuing on a series and if the
Trustee has actual knowledge of such Default, the Trustee shall mail a notice of
the Default within 90 days after it occurs to Holders of Registered Securities
of the series. Except in the case of a Default in payment on a series, the
Trustee may withhold the notice if and so long as a committee of its Trust
Officers in good faith determines that withholding the notice is in the interest
of Holders of the series. The Trustee shall withhold notice of a Default
described in Section 6.01(4) until at least 90 days after it occurs.

SECTION 7.06.              Reports by Trustee to Holders.

                  Any report required by TIA Section 313(a) to be mailed to
Securityholders shall be mailed by the Trustee on or before July 15 of each
year.

                  A copy of each report at the time of its mailing to
Securityholders shall be filed with the SEC and each stock exchange on which any
Securities are listed. The Company shall notify the Trustee when any Securities
are listed on a stock exchange.

SECTION 7.07.              Compensation and Indemnity.

                  The Company shall pay to the Trustee from time to time
reasonable compensation for its services. The Trustee's compensation shall not
be limited by any law on compensation of a trustee of an express trust. The
Company shall reimburse the Trustee upon request for all reasonable
out-of-pocket expenses incurred by it. Such expenses shall include the
reasonable compensation and expenses of the Trustee's agents and counsel.

                  The Company shall indemnify the Trustee (and its directors,
officers, employees and agents) and hold it harmless against any loss or
liability incurred by it in connection with the acceptance or administration of
the trust or trusts hereunder. The Trustee shall notify the Company promptly of
any claim for which it may seek indemnity. The Company shall defend the claim
and the Trustee shall cooperate in the defense. The Trustee may have separate
counsel and the Company shall pay the reasonable fees and expenses of such
counsel. The Company need not pay for any settlement made without its consent.

                                       19
<PAGE>   24
                  The Company need not reimburse any expense or indemnify
against any loss or liability incurred by the Trustee through the Trustee's
negligence or willful misconduct.

                  To secure the Company's payment obligations in this Section,
the Trustee shall have a lien prior to the Securities and any coupons on all
money or property held or collected by the Trustee, except that held in trust to
pay principal or interest on particular securities.

                  When the Trustee incurs expenses or renders services after an
Event of Default specified in Section 6.01(5) or (6) occurs, such expenses and
the compensation for such services are intended to constitute expenses of
administration under any Bankruptcy Law.

                  The provisions of this Section shall survive any termination
or discharge of this Indenture (including without limitation any termination
under any Bankruptcy Law) and the resignation or removal of the Trustee.

SECTION 7.08.              Replacement of Trustee.

                  A resignation or removal of the Trustee and appointment of a
successor Trustee shall become effective only upon the successor Trustee's
acceptance of appointment as provided in this Section.

                  The Trustee may resign by so notifying the Company. The
Holders of a majority in principal amount of the Securities may remove the
Trustee by so notifying the Trustee and may appoint a successor Trustee with the
Company's consent.

                  The Company may remove the Trustee if:

                  (1)      the Trustee fails to comply with TIA Section 310(a)
                           or Section 310(b) or with Section 7.09;

                  (2)      the Trustee is adjudged a bankrupt or an insolvent;

                  (3)      a Custodian or other public officer takes charge of
                           the Trustee or its property;

                  (4)      the Trustee becomes incapable of acting; or

                  (5)      an event of the kind described in Section 6.01(5) or
                           (6) occurs with respect to the Trustee.

                  If the Trustee resigns or is removed or if a vacancy exists in
the office of Trustee for any reason, the Company shall promptly appoint a
successor Trustee.

                  If a successor Trustee does not take office within 30 days
after the retiring Trustee resigns or is removed, the retiring Trustee, the
Company or the Holders of a majority in principal amount of the Securities may
petition any court of competent jurisdiction for the appointment of a successor
Trustee.

                                       20
<PAGE>   25
                  If the Trustee fails to comply with TIA Section 310(a) or
Section 310(b) or with Section 7.10, any Securityholder may petition any court
of competent jurisdiction for the removal of the Trustee and the appointment of
a successor Trustee.

                  A successor Trustee shall deliver a written acceptance of its
appointment to the retiring Trustee and to the Company. Thereupon the
resignation or removal of the retiring Trustee shall become effective, and the
successor Trustee shall have all the rights, powers and duties of the Trustee
under this Indenture. The successor Trustee shall mail a notice of its
succession to Holders of Registered Securities. The retiring Trustee shall
promptly transfer all property held by it as Trustee to the successor Trustee,
subject to the lien provided for in Section 7.07.

SECTION 7.09.              Successor Trustee by Merger, etc.

                  If the Trustee consolidates, merges or converts into, or
transfers all or substantially all of its corporate trust business to, another
corporation, the successor corporation without any further act shall be the
successor Trustee.

SECTION 7.10.              Trustee's Capital and Surplus.

                  The Trustee, or the bank holding company of which the Trustee
is a wholly owned Subsidiary, at all times shall have a combined capital and
surplus of at least $50,000,000 as set forth in its most recent published report
of financial condition.

                       ARTICLE 8 - DISCHARGE OF INDENTURE

SECTION 8.01.              Defeasance.

                  Securities of a series may be defeased in accordance with
their terms and, unless the Securities Resolution otherwise provides, in
accordance with this Article.

                  The Company at any time may terminate as to a series all of
its obligations under this Indenture, the Securities of the series and any
related coupons ("legal defeasance option"). The Company at any time may
terminate as to a series its obligations, if any, under any restrictive
covenants which may be applicable to a particular series ("covenant defeasance
option"). However, in the case of the legal defeasance option, the Company's
obligations in Sections 2.03, 2.04, 2.05, 2.06, 2.07, 2.08, 7.06, 7.07 and 8.04
shall survive until the Securities of the series are no longer outstanding;
thereafter the Company's obligations in Section 7.07 shall survive.

                  The Company may exercise its legal defeasance option
notwithstanding its prior exercise of its covenant defeasance option. If the
Company exercises its legal defeasance option, a series may not be accelerated
because of an Event of Default. If the Company exercises its covenant defeasance
option, a series may not be accelerated by reference to any restrictive
covenants which may be applicable to such series.

                  The Trustee upon written request (subject to Section 8.02)
shall acknowledge in writing the discharge of those obligations or restrictions
that the Company terminates by defeasance.

                                                        21

<PAGE>   26
SECTION 8.02. Conditions to Defeasance.

                  The Company may exercise as to a series its legal defeasance
option or its covenant defeasance option if:

                  (1)      the Company irrevocably deposits in trust with the
                           Trustee (under terms reasonably acceptable to the
                           Trustee) or another trustee money or U.S. Government
                           Obligations;

                  (2)      the Company delivers to the Trustee a certificate
                           from a nationally recognized firm of independent
                           accountants expressing their opinion that the
                           payments of principal and interest when due on the
                           deposited noncallable U.S. Government Obligations
                           without reinvestment plus any deposited money without
                           investment will provide cash at such times and in
                           such amounts as will be sufficient to pay principal
                           and interest when due on all the Securities of the
                           series to maturity or redemption, as the case may be;

                  (3)      the Company deliver to the Trustee an Officers'
                           certificate stating that immediately after the
                           deposit no Default exists;

                  (4)      the Company deliver an Officers' Certificate stating
                           that the deposit does not constitute a default under
                           any other agreement binding on the Company;

                  (5)      the deposit does not cause the Trustee to have a
                           conflicting interest under TIA Section 310(a) or
                           Section 310(b) as to another series;

                  (6)      the Company delivers to the Trustee an Opinion of
                           Counsel to the effect that Holders of the series will
                           not recognize income, gain or loss for Federal income
                           tax purposes as a result of the defeasance; and

                  (7)      91 days pass after the deposit is made and during the
                           91-day period no Default specified in Section 6.01(5)
                           or (6) occurs that is continuing at the end of the
                           period.

                  Before or after a deposit the Company may make arrangements
satisfactory to the Trustee for the redemption of Securities at a future date in
accordance with Article 3.

                  "U.S. GOVERNMENT OBLIGATIONS" means direct obligations of (i)
the United States or (ii) an agency or instrumentality of the United States, the
payment of which is unconditionally guaranteed by the United States, which, in
either case, have the full faith and credit of the United States pledged for
payment and which are not callable at the issuer's option, or certificates
representing an ownership interest in such obligations.

SECTION 8.03. Application of Trust Money.

                  The Trustee shall hold in trust money or U.S. Government
Obligations deposited with it pursuant to Section 8.02. It shall apply the
deposited money and the money from U.S. Government

                                       22
<PAGE>   27
Obligations through the Paying Agent and in accordance with this Indenture to
the payment of principal and interest on Securities of the defeased series.

SECTION 8.04. Repayment to Company.

                  The Trustee and the Paying Agent shall promptly turn over to
the Company upon request any excess money or securities held by them at any
time.

                  The Trustee and the Paying Agent shall pay to the Company upon
written request any money held by them for the payment of principal or interest
that remains unclaimed for two years. After payment to the Company,
Securityholders entitled to the money must look to the Company for payment as
unsecured general creditors unless an abandoned property law designates another
person and all liability of the Trustee and paying agent with respect to such
money shall cease.

                             ARTICLE 9 - AMENDMENTS

SECTION 9.01. Without Consent of Holders.

                  The Company and the Trustee may amend this Indenture, the
Securities or any coupons without the consent of any Securityholder:

                  (1)      to cure any ambiguity, omission, defect or
                           inconsistency;

                  (2)      to comply with Section 5.01(2);

                  (3)      to provide that specific provisions of this Indenture
                           shall not apply to a series not previously issued;

                  (4)      to create a series and establish its terms pursuant
                           to Section 2.01;

                  (5)      to provide for a separate Trustee for one or more
                           series;

                  (6)      to make any change that does not materially adversely
                           affect the rights of any Securityholder; or

                  (7)      any other amendment provided for in the securities
                           resolution or supplemental indenture.

SECTION 9.02. With Consent of Holders.

                  Unless the Securities Resolution otherwise provides, the
Company and the Trustee may amend this Indenture, the Securities and any coupons
with the written consent of the Holders of a majority in principal amount of the
Securities of all series affected by the amendment voting as one class. However,
without the consent of each Securityholder affected, an amendment under this
Section may not:

                  (1)      reduce the amount of Securities whose Holders must
                           consent to an amendment;

                                       23
<PAGE>   28
                  (2)      reduce the interest on or change the time for payment
                           of interest on any Security;

                  (3)      change the fixed maturity of any Security;

                  (4)      reduce the principal of any non-Discounted Debt
                           Security or reduce the amount of principal of any
                           Discounted Debt Security that would be due upon an
                           acceleration thereof;

                  (5)      change the currency in which principal or interest on
                           a Security is payable;

                  (6)      make any change that materially adversely affects the
                           right to convert any Security;

                  (7)      make any change in Section 6.04 or 9.02, except to
                           increase the amount of Securities whose Holders must
                           consent to an amendment or waiver or to provide that
                           other provisions of this Indenture cannot be amended
                           or waived without the consent of each Securityholder
                           affected thereby; or

                  (8)      any other amendment or waiver provided for in the
                           securities resolution or supplemental indenture.

                  An amendment of a provision included solely for the benefit of
one or more series does not affect Securityholders of any other series.

                  Securityholders need not consent to the exact text of a
proposed amendment or waiver; it is sufficient if they consent to the substance
thereof.

SECTION 9.03. Compliance with Trust Indenture Act.

                  Every amendment pursuant to Section 9.01 or 9.02 shall be set
forth in a supplemental indenture (except any amendment pursuant to Section
9.01(4), which may be set forth in a Securities Resolution) that complies with
the TIA.

                  If a provision of the TIA requires or permits a provision of
this Indenture and the TIA provision is amended, then the Indenture provision
shall be automatically amended to like effect.

SECTION 9.04. Effect of Consents.

                  An amendment or waiver becomes effective in accordance with
its terms and thereafter binds every Securityholder entitled to consent to it.

                  A consent to an amendment or waiver by a Holder of a Security
is a continuing consent by the Holder and every subsequent Holder of a Security
that evidences the same debt as the consenting Holder's Security. Any Holder or
subsequent Holder may revoke the consent as to his Security if the Trustee
receives notice of the revocation before the amendment or waiver becomes
effective.

                                       24
<PAGE>   29
                  The Company may fix a record date for the determination of
Holders of Registered Securities entitled to give a consent. The record date
shall not be less than 10 nor more than 60 days prior to the first written
solicitation of Securityholders.

SECTION 9.05. Notation on or Exchange of Securities.

                  The Company may place an appropriate notation about an
amendment or waiver on any Security thereafter authenticated. The Company may
issue in exchange for affected Securities and the Trustee shall authenticate new
Securities that reflect the amendment or waiver.

SECTION 9.06. Trustee Protected.

                  The Trustee need not sign any supplemental indenture that
adversely affects its rights, liabilities, obligations or immunities. The
Trustee shall be entitled to receive, and shall be fully protected in relying
upon, an Opinion of Counsel and an Officers' Certificate each stating that the
execution of any amendment or supplement or waiver authorized pursuant to this
Article is authorized or permitted by this Indenture, and that such amendment or
supplement or waiver constitutes the legal, valid and binding obligation of the
Company.

                           ARTICLE 10 - MISCELLANEOUS

SECTION 10.01. Trust Indenture Act.

                  The provisions of TIA Sections 310 through 317 that
impose duties on any person (including the provisions automatically deemed
included herein unless expressly excluded by this Indenture) are a part of and
govern this Indenture, whether or not expressly set forth herein.

                  If any provision of this Indenture limits, qualifies or
conflicts with another provision which is required to be included in this
Indenture by the TIA, the required provision shall control. If any provision of
this Indenture modifies or excludes any provision of the TIA that may be so
modified or excluded, the latter provision shall be deemed to apply to this
Indenture as so modified or excluded, as the case may be.

SECTION 10.02. Notices.

                  Any notice by one party to another is duly given if in writing
and delivered in person, sent by facsimile transmission confirmed by mail or
mailed by first-class mail to the other's address shown below:

                           Company:

                           Cable Design Technologies Corporation
                           Foster Plaza 7
                           661 Andersen Drive
                           Pittsburgh, Pennsylvania 15220
                           Fax:  (412) 937-9690

                                       25
<PAGE>   30
               Trustee:

               if mailed by first class mail, to: State Street Bank and Trust
               Company, Corporate Trust Division, P.O. Box 778, Boston, MA
               02102-0778, Attention: Ronald P. Chin (Re: Cable Design
               Technologies);

               or if sent by other means, to: State Street Bank and Trust
               Company, Corporate Trust Division, 2 Avenue de Lafayette, 6th
               Floor, Boston, MA 02111-1724, Attention: Ronald P. Chin (Re:
               Cable Design Technologies), (facsimile: 617-662-1466);

                  A party by notice to the other parties may designate
additional or different addresses for subsequent notices.

                  Any notice mailed to a Securityholder shall be mailed to his
address shown on the register kept by the Registrar or on the list referred to
in Section 2.06. Failure to mail a notice to a Securityholder or any defect in a
notice mailed to a Securityholder shall not affect the sufficiency of the notice
mailed to other Securityholders or the sufficiency of any published notice.

                  If a notice is mailed in the manner provided above within the
time prescribed, it is duly given, whether or not the addressee receives it.

                  If the Company mails a notice to Securityholders, it shall
mail a copy to the Trustee and each Agent at the same time.

                  If in the Company's opinion it is impractical to mail a notice
required to be mailed or to publish a notice required to be published, the
Company may give such substitute notice as the Trustee approves, and the Trustee
shall have no liability for giving such approval. Failure to publish a notice as
required or any defect in it shall not affect the sufficiency of any mailed
notice.

                  All notices shall be in the English language, except that any
published notice may be in an official language of the country of publication.

                  A "notice" includes any communication required by this
Indenture.

SECTION 10.03. Certificate and Opinion as to Conditions Precedent.

                  Upon any request or application by the Company to the Trustee
to take any action under this Indenture, the Company shall if so requested
furnish to the Trustee:

                  (1)      an Officers' Certificate stating that, in the opinion
                           of the signers, all conditions precedent, if any,
                           provided for in this Indenture relating to the
                           proposed action have been complied with; and

                  (2)      an Opinion of Counsel stating that, in the opinion of
                           such counsel, all such conditions precedent have been
                           complied with.

                                       26
<PAGE>   31
SECTION 10.04. Statements Required in Certificate or Opinion.

                  Each certificate or opinion with respect to compliance with a
condition or covenant provided for in this Indenture shall include:

                  (1)      a statement that the person making such certificate
                           or opinion has read such covenant or condition;

                  (2)      a brief statement as to the nature and scope of the
                           examination or investigation upon which the
                           statements or opinions contained in such certificate
                           or opinion are based;

                  (3)      a statement that, in the opinion of such person, he
                           has made such examination or investigation as is
                           necessary to enable him to express an informed
                           opinion as to whether or not such covenant or
                           condition has been complied with; and

                  (4)      a statement as to whether or not, in the opinion of
                           such person, such condition or covenant has been
                           complied with.

SECTION 10.05. Rules by Company and Agents.

                  The Company may make reasonable rules for action by or a
meeting of Securityholders. An Agent may make reasonable rules and set
reasonable requirements for its functions.

SECTION 10.06. No Lien Created, etc.

                  Except as provided in Section 7.07, this Indenture and the
Securities do not create a Lien, charge or encumbrance on any property of the
Company or any Subsidiary.

SECTION 10.07. Legal Holidays.

                  A "LEGAL HOLIDAY" is a Saturday, a Sunday or a day on which
banking institutions are not required to be open. If a payment date is a Legal
Holiday at a place of payment, unless the Securities Resolution establishing a
series otherwise provides with respect to Securities of the series, payment may
be made at that place on the next succeeding day that is not a Legal Holiday,
and no interest shall accrue for the intervening period.

SECTION 10.08. No Recourse Against Others.

                  All liability described in the Securities of any director,
officer, employee or stockholder, as such, of the Company is waived and
released.

SECTION 10.09. Duplicate Originals.

                  The parties may sign any number of copies of this Indenture.
One signed copy is enough to prove this Indenture.

                                       27
<PAGE>   32
SECTION 10.10. Governing Law.

                  The laws of the State of New York shall govern this Indenture,
the Securities and any coupons, unless federal law governs.

                                       28
<PAGE>   33
                                   SIGNATURES

Dated;             ,                    CABLE DESIGN TECHNOLOGIES
                                        CORPORATION

                                        By:
                                             Name:
                                             Address:
Dated:             ,                    State Street Bank and Trust Company,
                                        as Trustee

                                        By:
                                             Name:
                                             Address:

                                       S-1
<PAGE>   34
                                    EXHIBIT A
                          A Form of Registered Security

No.                                                               $

CABLE DESIGN TECHNOLOGIES CORPORATION
[TITLE OF SECURITY]

Cable Design Technologies Corporation
promises to pay to

or registered assigns
the principal sum of               Dollars on        ,

Interest Payment Dates:
         Record Dates:

                                                    Dated:

                                                    CABLE DESIGN TECHNOLOGIES
                                                    CORPORATION

                                                    by

                                             (SEAL)

Authenticated: This is one of the Securities               Chairman of the Board
referred to in the within-mentioned Indenture.

State Street Bank and Trust Company, as
  Trustee

By

---------------------
Authorized Signature                                 Vice President

                                       A-1
<PAGE>   35
CABLE DESIGN TECHNOLOGIES CORPORATION
[TITLE OF SECURITY]
[EXPLANATORY NOTES FOLLOW EXHIBIT B]

1.       INTEREST.(1)

                  Cable Design Technologies Corporation ("Company"), a
                  corporation organized and existing under the laws of the State
                  of Delaware, promises to pay interest on the principal amount
                  of this Security at the rate per annum shown above. The
                  Company will pay interest on            and     of each year
                  commencing             , 20__. Interest on the Securities will
                  accrue from the most recent date to which interest has been
                  paid or, if no interest has been paid, from               ,
                  20__. Interest will be computed on the basis of a 360-day year
                  of twelve 30-day months.

2.       METHOD OF PAYMENT.(2)

                  The Company will pay interest on the Securities to the persons
                  who are registered holders of Securities at the close of
                  business on the record date for the next interest payment
                  date, except as otherwise provided in the Indenture. Holders
                  must surrender Securities to a Paying Agent to collect
                  principal payments. The Company will pay principal and
                  interest in money of the United States that at the time of
                  payment is legal tender for payment of public and private
                  debts. The Company may pay principal and interest by check
                  payable in such money. It may mail an interest check to a
                  holder's registered address.

3.       AGENTS.

                  Initially,             Attention:               , will act as
                  Paying Agent and Registrar. The Company may change any Paying
                  Agent or Registrar without notice or provide for more than one
                  such agent. The Company or any Affiliate may act in any such
                  capacity.

4.       INDENTURE.

                  The Company issued the securities of this series
                  ("Securities") under an Indenture dated as of               ,
                  ("Indenture") between the Company and
                  ("Trustee"). The terms of the Securities include those stated
                  in the Indenture and in the Securities Resolution creating the
                  Securities and those made part of the Indenture by the Trust
                  Indenture Act of 1939 (15 U.S. Code Sections 77aaa-77bbbb), as
                  amended. Securityholders are referred to the Indenture, the
                  Securities Resolution and the Act for a statement of such
                  terms.

                                       A-2
<PAGE>   36
5.       OPTIONAL REDEMPTION.(3)

                  On or after                  , the Company may redeem all the
                  Securities at any time or some of them from time to time at
                  the following redemption prices (expressed in percentages of
                  principal amount), plus accrued interest to the redemption
                  date.

                  If redeemed during the 12-month period beginning,

                  Year       Percentage        Year       Percentage

                  and thereafter at 100%.

6.       MANDATORY REDEMPTION.(4)

                  The Company will redeem $         principal amount of
                  Securities on                and on each            thereafter
                  through                   at a redemption price of 100% of
                  principal amount, plus accrued interest to the redemption
                  date.(5) The Company may reduce the principal amount of
                  Securities to be redeemed pursuant to this paragraph by
                  subtracting 100% of the principal amount (excluding premium)
                  of any Securities (i) that the Company has acquired or that
                  the Company has redeemed other than pursuant to this paragraph
                  and (ii) that the Company has delivered to the Registrar for
                  cancellation. The Company may so subtract the same Security
                  only once.

7.       ADDITIONAL OPTIONAL REDEMPTION.(6)

                  In addition to redemptions pursuant to the above paragraph(s),
                  the Company may redeem not more than $       principal amount
                  of Securities on                  and on each thereafter
                  through                   at a redemption price of 100% of
                  principal amount, plus accrued interest to the redemption
                  date.

8.       NOTICE OF REDEMPTION.(7)

                  Notice of redemption will be mailed at least 30 days before
                  the redemption date to each holder of Securities to be
                  redeemed at his registered address.

                  A notice of redemption may provide that it is subject to the
                  occurrence of any event before the date fixed for such
                  redemption as described in such notice ("Conditional
                  Redemption") and such notice of Conditional Redemption shall
                  be of no effect unless all such conditions to the redemption
                  have occurred before such date or have been waived by the
                  Company.

9.       DENOMINATIONS, TRANSFER, EXCHANGE.

                  The Securities are in registered form without coupons in
                  denominations of $1,0008 and whole multiples of $1,000. The
                  transfer of Securities may be registered and Securities may be
                  exchanged as provided in the Indenture. The Trustee may
                  require a holder, among other things, to furnish appropriate
                  endorsements and transfer documents and to

                                       A-3
<PAGE>   37
                  pay any taxes and fees required by law or the Indenture. The
                  Trustee need not exchange or register the transfer of any
                  Security or portion of a Security selected for redemption.
                  Also, it need not exchange or register the transfer of any
                  Securities for a period of 15 days before a selection of
                  Securities to be redeemed.

10.      PERSONS DEEMED OWNERS.

                  The registered holder of a Security may be treated as its
                  owner for all purposes.

11.      AMENDMENTS AND WAIVERS.

                  Subject to certain exceptions, the Indenture or the Securities
                  may be amended with the consent of the holders of a majority
                  in principal amount of the securities of all series affected
                  by the amendment.(9) Subject to certain exceptions, a default
                  on a series may be waived with the consent of the holders of a
                  majority in principal amount of the series.

                  Without the consent of any Securityholder, the Indenture or
                  the Securities may be amended, among other things, to cure any
                  ambiguity, omission, defect or inconsistency; to provide for
                  assumption of Company obligations to Securityholders; or to
                  make any change that does not materially adversely affect the
                  rights of any Securityholder.

12.      RESTRICTIVE COVENANTS.(10)

                  The Securities are unsecured general obligations of the
                  Company limited to $ principal amount. The Indenture does not
                  limit other unsecured debt.

13.      SUCCESSORS.

                  When a successor assumes all the obligations of the Company
                  under the Securities and the Indenture, the Company will be
                  released from those obligations.

14.      DEFEASANCE PRIOR TO REDEMPTION OR MATURITY.(11)

                  Subject to certain conditions, the Company at any time may
                  terminate some or all of its obligations under the Securities
                  and the Indenture if the Company deposits with the Trustee
                  money or U.S. Government Obligations for the payment of
                  principal and interest on the Securities to redemption or
                  maturity. U.S. Government Obligations are securities backed by
                  the full faith and credit of the United States of America or
                  certificates representing an ownership interest in such
                  Obligations.

15.      DEFAULTS AND REMEDIES.

                  An Event of Default(12) includes: default for 60 days in
                  payment of interest on the Securities; default in payment of
                  principal on the Securities; default for 60 days in payment
                  or satisfaction of any sinking fund obligation; default by
                  the Company for a specified period after notice to it in the
                  performance of any of its other agreements applicable to the
                  Securities; certain events of bankruptcy or insolvency; and
                  any other

                                       A-4
<PAGE>   38
                  Event of Default provided for in the series. If an Event of
                  Default occurs and is continuing, the Trustee or the holders
                  of at least 25% in principal amount of the Securities may
                  declare the principal(13) of all the Securities to be due and
                  payable immediately. Securityholders may not enforce the
                  Indenture or the Securities except as provided in the
                  Indenture. The Trustee may require indemnity satisfactory to
                  it before it enforces the Indenture or the Securities. Subject
                  to certain limitations, holders of a majority in principal
                  amount of the Securities may direct the Trustee in its
                  exercise of any trust or power. The Trustee may withhold from
                  Securityholders notice of any continuing default (except a
                  default in payment of principal or interest) if it determines
                  that withholding notice is in their interests. The Company
                  must furnish an annual compliance certificate to the Trustee.

16.      TRUSTEE DEALINGS WITH COMPANY.

                                   , the Trustee under the Indenture, in its
                  individual or any other capacity, may make loans to, accept
                  deposits from, and perform services for the Company or its
                  Affiliates, and may otherwise deal with the Company or its
                  Affiliates, as if it were not Trustee.

17.      NO RECOURSE AGAINST OTHERS.

                  A director, officer, employee or stockholder, as such, of the
                  Company shall not have any liability for any obligations of
                  the Company under the Securities or the Indenture or for any
                  claim based on, in respect of or by reason of such obligations
                  or their creation. Each Securityholder by accepting a Security
                  waives and releases all such liability. The waiver and release
                  are part of the consideration for the issue of the Securities.

18.      AUTHENTICATION.

                  This Security shall not be valid until authenticated by a
                  manual signature of the Trustee (or an Authenticating Agent
                  acting on its behalf).

19.      ABBREVIATIONS.

                  Customary abbreviations may be used in the name of a
                  Securityholder or an assignee, such as: TEN COM (= tenants in
                  common), TEN ENT (= tenants by the entirety), JT TEN (= joint
                  tenants with right of survivorship and not as tenants in
                  common), CUST (= custodian), and U/G/M/A (= Uniform Gifts to
                  Minors Act).

                  THE COMPANY WILL FURNISH TO ANY SECURITYHOLDER UPON WRITTEN
REQUEST AND WITHOUT CHARGE A COPY OF THE INDENTURE AND THE SECURITIES RESOLUTION
WHICH CONTAINS THE TEXT OF THIS SECURITY IN LARGER TYPE. REQUESTS MAY BE MADE
TO: CABLE DESIGN TECHNOLOGIES CORPORATION, FOSTER PLAZA 7, 661 ANDERSEN DRIVE,
PITTSBURGH, PENNSYLVANIA 15220, ATTENTION: TREASURER.

                                       A-5
<PAGE>   39
                                    EXHIBIT B

                            A Form of Bearer Security

No.                                                          $

CABLE DESIGN TECHNOLOGIES CORPORATION
[TITLE OF SECURITY]
[EXPLANATORY NOTES FOLLOW             ]

Cable Design Technologies Corporation
promises to pay to bearer

the principal sum of                Dollars on       ,

Interest Payment Dates:

         Dated:

                                                    CABLE DESIGN TECHNOLOGIES
                                                    CORPORATION

                                                    by

                                           (SEAL)

Authenticated: This is one of the          Chairman of the Board
Securities referred to in the
within-mentioned Indenture.

[NAME OF TRUSTEE], as
  Trustee

By

---------------------
Authorized Signature                                          Vice President

                                       B-1
<PAGE>   40
CABLE DESIGN TECHNOLOGIES CORPORATION
[TITLE OF SECURITY]

1.       INTEREST.(1)

                  Cable Design Technologies Corporation ("Company"), a
                  corporation organized and existing under the laws of the State
                  of Delaware, promises to pay to bearer interest on the
                  principal amount of this Security at the rate per annum shown
                  above. The Company will pay interest on           and
                  of each year commencing                 , 20__. Interest on
                  the Securities will accrue from the most recent date to which
                  interest has been paid or, if no interest has been paid, from,
                  20__. Interest will be computed on the basis of a 360-day
                  year of twelve 30-day months.

2.       METHOD OF PAYMENT.(2)

                  Holders must surrender Securities and any coupons to a Paying
                  Agent to collect principal and interest payments. The Company
                  will pay principal and interest in money of the United States
                  that at the time of payment is legal tender for payment of
                  public and private debts. The Company may pay principal and
                  interest by check payable in such money.

3.       AGENTS.

                  Initially,               , Attention:                   , will
                  act as Paying Agent and Registrar. The Company may change any
                  Paying Agent or Registrar without notice or provide for more
                  than one such agent. The Company or any Affiliate may act in
                  any such capacity.

4.       INDENTURE.

                  The Company issued the securities of this series
                  ("Securities") under an Indenture dated as of        ,
                  ("Indenture") between the Company and            ("Trustee").
                  The terms of the Securities include those stated in the
                  Indenture and the Securities Resolution and those made part of
                  the Indenture by the Trust Indenture Act of 1939 (15 U.S. Code
                  Sections 77aaa-77bbbb), as amended. Securityholders are
                  referred to the Indenture, the Securities Resolution and the
                  Act for a statement of such terms.

5.       OPTIONAL REDEMPTION.(3)

                  On or after                 , the Company may redeem all the
                  Securities at any time or some of them from time to time at
                  the following redemption prices (expressed in percentages of
                  principal amount), plus accrued interest to the redemption
                  date.

                  If redeemed during the 12-month period beginning,
                  Year              Percentage       Year            Percentage

                  and thereafter 100%.

                                       B-2
<PAGE>   41
6.       MANDATORY REDEMPTION.(4)

                  The Company will redeem $       principal amount of Securities
                  on       and on each          thereafter through            at
                  a redemption price of 100% of principal amount, plus accrued
                  interest to the redemption date.(5) The Company may reduce the
                  principal amount of Securities to be redeemed pursuant to this
                  paragraph by subtracting 100% of the principal amount
                  (excluding premium) of any Securities (i) that the Company has
                  acquired or that the Company has redeemed other than pursuant
                  to this paragraph and (ii) that the Company has delivered to
                  the Registrar for cancellation. The Company may so subtract
                  the same Security only once.

7.       ADDITIONAL OPTIONAL REDEMPTION.(6)

                  In addition to redemptions pursuant to the above paragraph(s),
                  the Company may redeem not more than $        principal amount
                  of Securities on              and on each           thereafter
                  through     at a redemption price of 100% of principal amount,
                  plus accrued interest to the redemption date.

8.       NOTICE OF REDEMPTION.(7)

                  Notice of redemption will be published once in an Authorized
                  Newspaper in the City of New York and if the Securities are
                  listed on any stock exchange located outside the United States
                  and such stock exchange so requires, in any other required
                  city outside the United States at least 30 days before the
                  redemption date. Notice of redemption also will be mailed to
                  holders who have filed their names and addresses with the
                  Transfer Agent within the two preceding years. A holder of
                  Securities may miss important notices if he fails to maintain
                  his name and address with the Transfer Agent.

                  A notice of redemption may provide that it is subject to the
                  occurrence of any event before the date fixed for such
                  redemption as described in such notice ("Conditional
                  Redemption") and such notice of Conditional Redemption shall
                  be of no effect unless all such conditions to the redemption
                  have occurred before such date or have been waived by the
                  Company.

9.       DENOMINATIONS, TRANSFER, EXCHANGE.

                  The Securities are in bearer form with coupons in
                  denominations of $5,000 8 and whole multiples of $5,000. The
                  Securities may be transferred by delivery and exchanged as
                  provided in the Indenture. Upon an exchange, the Trustee may
                  require a holder, among other things, to furnish appropriate
                  documents and to pay any taxes and fees required by law or the
                  Indenture. The Trustee need not exchange any Security or
                  portion of a Security selected for redemption. Also, it need
                  not exchange any Securities for a period of 15 days before a
                  selection of Securities to be redeemed.

10.      PERSONS DEEMED OWNERS.

                  The holder of a Security or coupon may be treated as its owner
                  for all purposes.

                                       B-3
<PAGE>   42
11.      AMENDMENTS AND WAIVERS.

                  Subject to certain exceptions, the Indenture or the Securities
                  may be amended with the consent of the holders of a majority
                  in principal amount of the securities of all series affected
                  by the amendment.9 Subject to certain exceptions, a default on
                  a series may be waived with the consent of the holders of a
                  majority in principal amount of the series.

                  Without the consent of any Securityholder, the Indenture or
                  the Securities may be amended, among other things, to cure any
                  ambiguity, omission, defect or inconsistency; to provide for
                  assumption of Company obligations to Securityholders; or to
                  make any change that does not materially adversely affect the
                  rights of any Securityholder.

12.      RESTRICTIVE COVENANTS. (10)

                  The Securities are unsecured general obligations of the
                  Company limited to $ principal amount. The Indenture does not
                  limit other unsecured debt.

13.      SUCCESSORS.

                  When a successor assumes all the obligations of the Company
                  under the Securities, any coupons and the Indenture, the
                  Company will be released from those obligations.

14.      DEFEASANCE PRIOR TO REDEMPTION OR MATURITY.(11)

                  Subject to certain conditions, the Company at any time may
                  terminate some or all of its obligations under the Securities,
                  any coupons and the Indenture if the Company deposits with the
                  Trustee money or U.S. Government Obligations for the payment
                  of principal and interest on the Securities to redemption or
                  maturity. U.S. Government Obligations are securities backed by
                  the full faith and credit of the United States of America or
                  certificates representing an ownership interest in such
                  Obligations.

15.      DEFAULTS AND REMEDIES.

                  An Event of Default (12) includes: default for 60 days in
                  payment of interest on the Securities; default in payment of
                  principal on the Securities; default for 60 days in payment or
                  satisfaction of any sinking fund obligation; default by the
                  Company for a specified period after notice to it in the
                  performance of any of its other agreements applicable to the
                  Securities; certain events of bankruptcy or insolvency; and
                  any other Event of Default provided for in the series. If an
                  Event of Default occurs and is continuing, the Trustee or the
                  holders of at least 25% in principal amount of the Securities
                  may declare the principal(13) of all the Securities to be due
                  and payable immediately.

                  Securityholders may not enforce the Indenture or the
                  Securities except as provided in the Indenture. The Trustee
                  may require indemnity satisfactory to it before it enforces
                  the Indenture or the Securities. Subject to certain
                  limitations, holders of a majority in principal amount of the
                  Securities may direct the Trustee in its exercise of any trust
                  or

                                       B-4
<PAGE>   43
                  power. The Trustee may withhold from Securityholders notice of
                  any continuing default (except a default in payment of
                  principal or interest) if it determines that withholding
                  notice is in their interests. The Company must furnish annual
                  compliance certificates to the Trustee.

16.      TRUSTEE DEALINGS WITH COMPANY.

                                   , the Trustee under the Indenture, in its
                  individual or any other capacity, may make loans to, accept
                  deposits from, and perform services for the Company or its
                  Affiliates, and may otherwise deal with the Company or its
                  Affiliates, as if it were not Trustee.

17.      NO RECOURSE AGAINST OTHERS.

                  A director, officer, employee or stockholder, as such, of the
                  Company shall not have any liability for any obligations of
                  the Company under the Securities or the Indenture or for any
                  claim based on, in respect of or by reason of such obligations
                  or their creation. Each Securityholder by accepting a Security
                  waives and releases all such liability. The waiver and release
                  are part of the consideration for the issue of the Securities.

18.      AUTHENTICATION.

                  This Security shall not be valid until authenticated by a
                  manual signature of the Trustee (or an Authentication Agent
                  acting on its behalf.

19.      ABBREVIATIONS.

                  Customary abbreviations may be used in the name of a
                  Securityholder or an assignee, such as: TEN COM (= tenants in
                  common), TEN ENT (= tenants by the entirety), JT TEN (= joint
                  tenants with right of survivorship and not as tenants in
                  common), CUST (= custodian), and U/G/M/A (= Uniform Gifts to
                  Minors Act).

                  THE COMPANY WILL FURNISH TO ANY SECURITYHOLDER UPON WRITTEN
REQUEST AND WITHOUT CHARGE A COPY OF THE INDENTURE AND THE SECURITIES RESOLUTION
WHICH CONTAINS THE TEXT OF THIS SECURITY IN LARGER TYPE. REQUESTS MAY BE MADE
TO: CABLE DESIGN TECHNOLOGIES CORPORATION, FOSTER PLAZA 7, 661 ANDERSEN DRIVE,
PITTSBURGH, PENNSYLVANIA 15220, ATTENTION: TREASURER.

                                       B-5
<PAGE>   44
                                [FACE OF COUPON]

                                   ................................
                                   [$].............................
                                   Due.............................

CABLE DESIGN TECHNOLOGIES CORPORATION

[TITLE OF SECURITY]

         Unless the Security attached to this coupon has been called for
redemption, Cable Design Technologies Corporation (the "Company") will pay to
bearer, upon surrender, the amount shown hereon when due. This coupon may be
surrendered for payment to any Paying Agent listed on the back of this coupon
unless the Company has replaced such Agent. Payment may be made by check. This
coupon represents        months' interest.

                                       CABLE DESIGN TECHNOLOGIES
                                       CORPORATION

                                       By____________________________

[REVERSE OF COUPON]

PAYING AGENTS

                                       B-6
<PAGE>   45
                            NOTES TO EXHIBITS A AND B

1        If the Security is not to bear interest at a fixed rate per annum,
         insert a description of the manner in which the rate of interest is to
         be determined. If the Security is not to bear interest prior to
         maturity, so state.

2        If the method or currency of payment is different, insert a statement
         thereof.

3        If applicable. A restriction on redemption or refunding or any
         provision applicable to its redemption other may be added.

4        Such provisions as are applicable, if any.

5        If the Security is a Discounted Debt Security, insert amount to be
         redeemed or method of calculating such amount.

6        If applicable. Also insert, if applicable, provisions for repayment of
         Securities at the option of the Securityholder.

7        If applicable.

8        If applicable. Insert additional or different denominations and terms
         as appropriate.

9        If different terms apply, insert a brief summary thereof.

10       If applicable. If additional or different covenants apply, insert a
         brief summary thereof.

11       If applicable. If different defeasance terms apply, insert a brief
         summary thereof.

12       If additional or different Events of Default apply, insert a brief
         summary thereof.

13       If the Security is a Discounted Debt Security, set forth the amount due
         and payable upon an Event of Default.

Note: U.S. tax law may require certain legends on Discounted Debt and Bearer
Securities.

                                        1
<PAGE>   46
                                    EXHIBIT C

                                 ASSIGNMENT FORM

                  To assign this Security, fill in the form below:

I or we assign and transfer this Security to
-----------------------------------------
                           :                            :
:---------------------------------------:
(Insert assignee's soc. sec. or tax I.D. no.)

              (Print or type assignee's name, address and zip code)

and irrevocably appoint ____________________________ agent to transfer this
Security on the books of the Company. The agent may substitute another to act
for him.

Date:                                    Your Signature:

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

Note: Signature(s) must be guaranteed by an Eligible Guarantor Institution with
membership in an approved signature guarantee program pursuant to Rule 17Ad-15
under the Securities Exchange Act of 1934.

                                       C-1

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