Document:

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                                                                    EXHIBIT 10.3

                  [INSITUFORM TECHNOLOGIES, INC. LETTERHEAD]

March 7, 2003

Mr. Thomas S. Rooney, Jr.
3038 Shinnecock Hills Drive
Duluth, Georgia 30097

Dear Tom:

This letter will confirm the offer we discussed to have you join us as the
President and Chief Operating Officer of Insituform Technologies, Inc. ("ITI").
The principal terms and conditions of the offer are as follows:

1.  Base Salary.  The annual base salary for the position of President and Chief
Operating Officer will be $350,000. Your base salary will be reviewed on an
annual basis by the Compensation Committee of the Board of Directors of ITI.

2.  Annual Incentive Bonus.  You will be entitled to receive an annual incentive
bonus in an amount calculated as a percentage of your base salary determined by
reference to: (i) a range of percentages identified by the Compensation
Committee based upon a center point objective of 60% (intended to provide an
opportunity of up to two times such center point) and (ii) the accomplishment by
ITI of such annual goals attendant to such range as shall also have been
determined by the Compensation Committee. The foregoing annual goals will be
determined as reasonable targets given ITI's results of operations and
prospects, intended to provide you with incentives to achieve such performance.
You will receive a minimum of 60% of your potential 2003 annual incentive bonus
(based on the 60% center point objective and disregarding any proration for
partial year service), which will be payable in March 2004. The amount and
criteria for your annual incentive bonus will be reviewed annually by the
Compensation Committee.

3.  Long Term Incentives.  You are eligible to participate in the Insituform
Technologies, Inc. Long-Term Incentive Plan (the "LTIP"), which includes both
equity and cash compensation. Equity grants are made under the Insituform
Technologies, Inc. 2001 Employee Equity Incentive Plan. LTIP grants for officers
are determined by the Compensation Committee on an annual basis. For 2003, you
will be granted:

         (a) Stock options to purchase 32,200 shares of ITI Class A common
shares, $.01 par value ("COMMON STOCK"), such options to become exercisable with
respect to 25% of such shares on the grant date and on each of the first, second
and third anniversaries of the grant date. The strike price for the options will
be the closing market price of the Common Stock on the date your options are
granted by the Compensation Committee, which is expected to be the first day of
your active employment with ITI. The options will expire on the seventh
anniversary of the
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Mr. Thomas S. Rooney, Jr.
March 7, 2003
Page 2
_______________________________________________________________________________

grant date. To the maximum extent permitted under the limitations contained in
the Internal Revenue Code, the options will be "incentive stock options," with
the remainder being non-qualified stock options.

         (c)  12,800 shares of restricted Common Stock. The restricted stock
will vest 100% three years after the grant date, in a cliff vesting arrangement.
No restricted stock may be sold until at least three years following the grant
date, and will be subject to the terms of a restricted stock agreement. The
restricted stock will be granted by the Compensation Committee, with such grant
expected to occur on the first day of your active employment with ITI.

         (d)  a target award amount of $285,000 under the 2003-2005 Long Term
Executive Cash Performance Program, payable in March 2006 based on the
achievement of goals established by the Compensation Committee during the three
year period.

4.  Deferred Compensation.  You are eligible to participate in the Senior
Management Voluntary Deferred Compensation Plan (the "DCP"). Tax deferred
contributions may be made into the DCP after the maximum allowable contribution
(as defined by the IRS) has been made into ITI's 401(k) plan. The first 3% of
DCP contributions are matched by ITI at 100% and the next 2% of contributions
are matched at a 50% rate. The maximum company match into both the 401(k) and
DCP together is $8,000.

5.  Additional Benefits.

         (a)  You will be provided with a car allowance of $850 per month,
subject to adjustment in accordance with ITI's policy.

         (b)  You will be reimbursed for country club membership fees (extending
to initiation fees or membership share purchases, up to a maximum amount of
$35,000, and to ongoing dues) for one club of your choice in the St. Louis,
Missouri area.

         (c)  You are eligible to participate in the company's medical, dental,
vision, life insurance, and long-term disability plans, and any future plans and
programs implemented by ITI for its employees generally or by the Compensation
Committee for you specifically, and in the ITI 401(k) Profit Sharing Plan and
any future plans or programs supplemental to the ITI 401(k) Profit Sharing Plan.
Details about specific benefits will be provided to you in benefit plan
documents.

         (d)  You will receive holidays in accordance with ITI's policy. During
2003, you will receive three weeks vacation, prorated for the number of days
employed during the year. During your fifth year of employment and beyond, you
will receive four weeks vacation.

         (e)  You will be provided relocation assistance as provided for in
ITI's relocation policy, including reimbursement for the cost of temporary
accommodations and weekly travel to and from your current home for a mutually
agreeable period prior to relocating your family to St.

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Mr. Thomas S. Rooney, Jr.
March 7, 2003
Page 3
_______________________________________________________________________________

Louis. Your relocation, including the sale of your home, must be handled through
ITI's relocation coordinator. In addition to ITI's standard relocation program,
you will receive a relocation allowance of $41,000 upon the purchase or lease of
your home in the St. Louis area.

6.  Severance.  As President and Chief Operating Officer, you will report to the
Chief Executive Officer and you will serve at the pleasure of the ITI Board of
Directors; however, if your employment is terminated by ITI for reasons other
than "cause" (as defined below) during your first twenty-four months' of
employment, you will receive, upon such termination, a severance payment equal
to twelve months' base salary, car allowance and medical/dental benefits.

The amount of "base salary" will be calculated as the product obtained by
multiplying (i) the number of months of severance to which you are entitled by
(ii) your highest monthly base salary during the twelve months prior to
termination.

"Cause" shall be defined as:

         (i)  your willful and continued failure to perform substantially your
         duties with ITI or any of its affiliates (other than such failure
         resulting from incapacity due to physical or mental illness), after a
         written demand for substantial performance is delivered to you by the
         Chairman of the Board of Directors which specifically identifies the
         manner in which the Board of Directors believes that you have not
         substantially performed your duties; or

         (ii)  your willful engaging in illegal conduct or gross misconduct
         which is materially and demonstrably injurious to ITI, whether or not
         subsequently discontinued or corrected; or

         (iii)  your conviction of a crime other than misdemeanor traffic
         offenses or commission of an act of moral turpitude; or

         (iv)  your inability to report for work for a period of four months or
         greater.

No act or failure to act, on your part, shall be considered "willful" unless it
is done, or omitted to be done, by you in bad faith or without reasonable belief
that your action or omission was in the best interests of ITI. The cessation of
employment shall not be deemed to be for "cause" unless and until there shall
have been delivered to you a copy of a resolution duly adopted by the
affirmative vote of no less than a majority of the entire membership of the
Board of Directors, finding that, in the good faith opinion of the Board of
Directors, you are guilty of the conduct described.

7.  Confidentiality and Non-Competition; Code of Conduct; Drug Testing. You must
sign ITI's standard Employee Confidentiality, Work Product and Non-Competitive
Agreement. You must sign and agree to abide by ITI's Business Code of Conduct.
You must successfully pass ITI's standard drug screen.

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Mr. Thomas S. Rooney, Jr.
March 7, 2003
Page 4
_______________________________________________________________________________

         This letter (and the terms of the plans, documents and standard
agreements referred to herein) contain the entire agreement of the parties with
respect to the subject matter hereof, and supersede any and all prior
understandings, commitments and agreements with respect thereto. The terms of
this letter (but not the standard agreements referred to herein) will expire
when the severance provisions expire.

         Your appointment as President and Chief Operating Officer will not be
effective until your first day of active employment with ITI at its executive
offices in Chesterfield, Missouri, which must occur within six weeks of the date
of this letter.

         If the above terms accurately reflect your understanding and agreement,
please sign this letter where indicated below and return it to me acknowledging
your acceptance.

Very truly yours,

INSITUFORM TECHNOLOGIES, INC.

By: /s/  Anthony W. Hooper
   ------------------------------------
   Anthony W. Hooper
   Chairman and Chief Executive Officer

ACCEPTED AND AGREED:

   /s/  Thomas S. Rooney, Jr.
   ------------------------------------
   Thomas S. Rooney, Jr.

Date: March 8, 2003<PAGE>
                                                                     EXHIBIT 4.1

                             FIRST AMENDMENT TO THE
                  SECOND AMENDED AND RESTATED CREDIT AGREEMENT

         FIRST AMENDMENT, dated as of March 18, 2002 (the "Amendment"), to the
Second Amended and Restated Credit Agreement, dated as of December 20, 2001 (as
amended, supplemented or otherwise modified prior to the date hereof, the
"Credit Agreement"), among INTERNATIONAL WIRE GROUP, INC., a Delaware
corporation, and its domestic Subsidiaries (collectively, the "Borrowers"),
INTERNATIONAL WIRE HOLDING COMPANY, a Delaware corporation ("Holding"), the
several banks and other financial institutions from time to time parties thereto
(the "Lenders") and JPMORGAN CHASE BANK, a New York banking corporation, as
administrative agent for the Lenders thereunder (in such capacity, the
"Administrative Agent"). Unless otherwise defined herein, terms which are
defined in the Credit Agreement and used herein are so used as so defined.

                                   WITNESSETH

         WHEREAS, the Borrowers, Holdings, the Lenders and the Administrative
Agent are parties to the Credit Agreement;

         WHEREAS, the Borrowers have requested that the Administrative Agent and
the Lenders agree to amend certain provisions of the Credit Agreement, as more
fully described herein; and

         WHEREAS, the Administrative Agent and the Lenders are willing to amend
such provisions of the Credit Agreement, but only upon the terms and subject to
the conditions set forth herein;

         NOW THEREFORE, in consideration of the premises and the mutual
covenants hereinafter set forth, the parties hereto hereby agree as follows:

         1 Amendments to the Credit Agreement

         Section 1 of the Credit Agreement is hereby amended as follows:

                  (a) by inserting the following definition in the appropriate
         alphabetical order

                  "First Amendment Effective Date": the effective date of the
First Amendment, dated as of March 18, 2002, to this Agreement.

                  (b) the definition of "M&E Component" is hereby amended by
         deleting the phrase "25%" where it appears therein and substituting in
         lieu thereof the phrase "35%",

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                                                                               2

         2. Conditions to Effectiveness of this Amendment. This Amendment shall
become effective upon the satisfaction of the following conditions precedent:

                  (a) Amendment. The Administrative Agent shall have received
         this Amendment, executed and delivered by a duly authorized officer of
         each of the Borrowers and Holdings and by the Lenders.

                  (b) No Default. No Default or Event of Default shall have
         occurred and be continuing on such date or after giving effect to the
         transactions contemplated herein.

                  (c) Representations and Warranties. Each of the
         representations and warranties made by the Credit Parties in or
         pursuant to the Loan Documents shall be true and correct in all
         material respects on and as of the date hereof as if made on and as of
         the date hereof, except for any representation and warranty which is
         expressly made as of an earlier date, which representation and warranty
         shall have been true and correct in all material respects as of such
         earlier date.

         3 Miscellaneous.

                  (a) Reference to and Effect on the Loan Documents. On and
         after the First Amendment Effective Date, each reference in the Credit
         Agreement to "this Agreement", "hereunder", "hereof" or words of like
         import referring to the Credit Agreement, and each reference in the
         other Loan Documents to "the Credit Agreement", "thereunder", "thereof"
         or words of like import referring to the Credit Agreement, shall mean
         and be a reference to the Credit Agreement as amended or waived hereby.
         The execution, delivery and effectiveness of this Amendment shall not,
         except as expressly provided herein, operate as a waiver of any right,
         power or remedy of any Lender or the Administrative Agent under any of
         the Loan Documents. Except as expressly amended herein, all of the
         provisions of the Credit Agreement and the other Loan Documents are and
         shall remain in full force and effect in accordance with the terms
         thereof and are hereby in all respects ratified and confirmed.

                  (b) Effect. Except as expressly amended hereby, all of the
         representations, warranties, terms, covenants and conditions of the
         Loan Documents shall remain unamended and not waived and shall continue
         to be in full force in effect.

                  (c) Counterparts. This Amendment may be executed by one or
         more of the parties to this Amendment on any number of separate
         counterparts, and all of said counterparts taken together shall be
         deemed to constitute one and the same instrument. A set of the copies
         of this Amendment signed by all the parties shall be lodged with the
         Administrative Agent.

                  (d) Severability. Any provision of this Amendment which is
         prohibited or unenforceable in any jurisdiction shall, as to such
         jurisdiction, be ineffective to the extent of such prohibition or
         unenforceability without invalidating the remaining provisions hereof,
         and any such prohibition or unenforceability in any jurisdiction shall
         not invalidate or render unenforceable such provision in any other
         jurisdiction.

<PAGE>

                                                                               3

                  (e) Integration. This Amendment and the other Loan Documents
         represent the agreement of the Credit Parties, the Administrative Agent
         and the Lenders with respect to the subject matter hereof, and there
         are no promises, undertakings, representations or warranties by the
         Administrative Agent or any Lender relative to the subject matter
         hereof not expressly set forth or referred to herein or in the other
         Loan Documents.

                  (f) GOVERNING LAW. THIS AMENDMENT AND ANY NOTES AND THE RIGHTS
         AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT AND ANY NOTES SHALL
         BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE
         LAW OF THE STATE OF NEW YORK.

              [THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

<PAGE>

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

                                   INTERNATIONAL WIRE GROUP, INC.

                                        /s/ KELLY WETZLER
                                       ----------------------------------------
                                       Name: KELLY WETZLER
                                       Title:

                                   INTERNATIONAL WIRE HOLDING COMPANY

                                        /s/ KELLY WETZLER
                                       ----------------------------------------
                                       Name: KELLY WETZLER
                                       Title:

                                   CAMDEN WIRE CO., INC.

                                        /s/ KELLY WETZLER
                                       ----------------------------------------
                                       Name: KELLY WETZLER
                                       Title:

                                   IWG RESOURCES, LLC

                                   By:  /s/ KELLY WETZLER
                                       ----------------------------------------
                                       Name: KELLY WETZLER
                                       Title:

                                   INTERNATIONAL WIRE ROME OPERATIONS, INC.

                                   By:  /s/ KELLY WETZLER
                                       ----------------------------------------
                                       Name: KELLY WETZLER
                                       Title:

<PAGE>

                                                                               5

                                   OWI CORPORATION

                                   By:  /s/ KELLY WETZLER
                                       ----------------------------------------
                                       Name: KELLY WETZLER
                                       Title:

                                   OMEGA WIRE, INC.

                                   By:  /s/ KELLY WETZLER
                                       ----------------------------------------
                                       Name: KELLY WETZLER
                                       Title:

                                   WIRE TECHNOLOGIES, INC.

                                   By:  /s/ KELLY WETZLER
                                       ----------------------------------------
                                       Name: KELLY WETZLER
                                       Title:

                                   JP MORGAN CHASE BANK, as
                                    Administrative Agent and as a Lender, as
                                    Swing Line Lender and as Issuing Lender

                                        /s/ ROBERT A. KRASNOW
                                       ----------------------------------------
                                       Name: ROBERT A. KRASNOW
                                       Title: VICE PRESIDENT

                                   THE CIT GROUP/BUSINESS CREDIT, INC

                                   By:  /s/ NICK MALATESTINIC
                                       ----------------------------------------
                                       Name: NICK MALATESTINIC
                                       Title: VICE PRESIDENT TEAM LEADER

                                   CONGRESS FINANCIAL CORPORATION

                                        /s/ THOMAS A. MARTIN
                                       ----------------------------------------
                                       Name: THOMAS A. MARTIN
                                       Title: VICE PRESIDENT

<PAGE>

                                                                               6

                                   IBJ WHITEHALL BUSINESS CREDIT CORPORATION

                                        /s/ CHRIS MAGNANTE
                                       ----------------------------------------
                                       Name: CHRIS MAGNANTE
                                       Title: ASSISTANT TREASURER

                                   LASALLE BUSINESS CREDIT, INC.

                                   By:  /s/ TIMOTHY A. WACOT
                                       ----------------------------------------
                                       Name: TIMOTHY A. WACOT
                                       Title: VICE PRESIDENT

                                   ORIX FINANCIAL SERVICES, INC.

                                   By:  /s/ THOMAS M. WATSON
                                       ----------------------------------------
                                       Name: THOMAS M. WATSON
                                       Title: VICE PRESIDENT

                                   TRANSAMERICA BUSINESS CAPITAL CORPORATION

                                   By:  /s/ MICHAEL S. BURNS
                                       ----------------------------------------
                                       Name: MICHAEL S. BURNS
                                       Title: SENIOR VICE PRESIDENT

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