Document:

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                                                                  Exhibit 10.2

               INITIAL PUBLIC OFFERING AND DISTRIBUTION AGREEMENT

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

                                    RECITALS

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

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

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

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

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

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

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

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

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

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

                                    ARTICLE I
                                   DEFINITIONS

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

                                    ARTICLE 2
                THE INITIAL PUBLIC OFFERING AND THE DISTRIBUTION.

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

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

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

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

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

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

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

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

                                    ARTICLE 3
                                    EXPENSES

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

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                                    ARTICLE 4
                                CERTAIN COVENANTS

         4.1.     FINANCIAL AND OTHER INFORMATION.

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

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

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

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

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

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

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

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

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

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

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

                                      -11-
<PAGE>

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

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

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

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

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

                                      -12-
<PAGE>

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

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

                                      -13-
<PAGE>

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

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

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

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

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

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

                                      -14-
<PAGE>

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

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

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

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

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

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

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

                                      -15-
<PAGE>

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

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

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

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

                                      -16-
<PAGE>

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

                                    ARTICLE 5
                                 INDEMNIFICATION

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

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

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

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

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

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

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

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

                                      -17-
<PAGE>

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

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

         5.3.     OTHER LIABILITIES.

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

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

         5.4.     TAX EFFECTS OF INDEMNIFICATION.

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

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

                                      -18-
<PAGE>

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

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

         5.6.     PROCEDURE FOR INDEMNIFICATION INVOLVING THIRD-PARTY CLAIMS.

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

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

                                      -19-
<PAGE>

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

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

                                      -20-
<PAGE>

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

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

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

                                    ARTICLE 6
                                  MISCELLANEOUS

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

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

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

                                      -21-
<PAGE>

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

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

<TABLE>
<CAPTION>

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

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

</TABLE>

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

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

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

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

                                      -22-
<PAGE>

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

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

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

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

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

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

                                      -23-
<PAGE>

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

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

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

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

                                METHODE ELECTRONICS, INC.

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

                                STRATOS LIGHTWAVE, INC.

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

                                      -24-<PAGE>

                                                                    EXHIBIT 10.4

                     MASTER TRANSITIONAL SERVICES AGREEMENT

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

                                    RECITALS:

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

         WHEREAS, Methode and Stratos have heretofore directly or indirectly
provided each other with certain administrative, financial, management and other
services, and the parties desire to continue to provide such services to each
other for a transitional period after the Contribution Date, on the terms and
subject to the conditions set forth herein.

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

                                    ARTICLE 1
                                   DEFINITIONS

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

         "ADDITIONAL SERVICES" has the meaning set forth in Section 3.3(a).

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

         "CONFIDENTIAL INFORMATION" has the meaning set forth in Section 9.1.

         "CONTRIBUTION DATE" has the meaning set forth in the Master Separation
Agreement.

         "DISTRIBUTION" has the meaning set forth in the Master Separation
Agreement.

         "DISTRIBUTION DATE" has the meaning set forth in the Master Separation
Agreement.

                                        1
<PAGE>

         "FORCE MAJEURE" means any act of God or the public enemy, any accident,
explosion, fire, storm, earthquake, flood, or any other circumstance or event
beyond the reasonable control of the party relying upon such circumstance or
event. has the meaning set forth in Section 3.5.

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

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

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

         "SERVICE" and "SERVICES" have the meanings set forth in Section 3.1.

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

         "TERMINATION DATE" has the meaning set forth in Article 4.

         "TRANSITION SERVICE SCHEDULE" has the meaning set forth in Article 2.

                                    ARTICLE 2
                          TRANSITION SERVICE SCHEDULES

         This Agreement will govern the individual transitional services
requested by one party and provided by the other party, the details of which are
set forth in the transition service schedules attached to and incorporated by
reference, into this Agreement. Each Service shall be covered by this Agreement
upon execution of a transition service schedule in the form attached hereto
(each transition service schedule, a "Transition Service Schedule").

         For each Service, the parties shall set forth, among other things: (i)
the time period during which the Service will be provided if different from the
term of this Agreement determined pursuant to Article 4 hereof; (ii) a summary
of the Service to be provided; (iii) a description of the Service; and (iv) the
estimated charge, if any, for the Service and any other terms applicable thereto
on the Transition Service Schedule. The obligations regarding each Transition
Service Schedule shall be effective upon the Contribution Date.

                                        2
<PAGE>

                                    ARTICLE 3
                                    SERVICES

         3.1 SERVICES GENERALLY. (a) On the terms and subject to the conditions
set forth in this Agreement, each party shall provide or cause to be provided to
the other party the service(s) to be provided by such party as described in the
Transition Service Schedule(s) attached hereto. The services described on a
single Transition Service Schedule shall be referred to herein as a "Service"
and the services described on all the Transition Service Schedules shall be
collectively referred to herein as "Services."

         (b) The parties acknowledge the transitional nature of the Services and
that a party may make changes from time to time in the manner of performing the
Services if the party is making similar changes in performing similar services
for itself. Each party shall provide sixty (60) days prior written notice of any
such changes to the other party hereto.

          3.2 SCOPE OF SERVICES. Unless otherwise agreed by Methode and Stratos,
the Services to be provided by each party pursuant to this Agreement shall be
substantially similar in scope, quality and nature as those provided by each
party prior to the Contribution Date and shall be performed by the same or
similar qualified personnel; PROVIDED, HOWEVER, that the selection of personnel
to perform the Services shall be at the sole discretion of the party providing
same; and PROVIDED, FURTHER, that, except as expressly provided in this
Agreement, each party shall not be required to materially increase the volume,
scope or quality of the Services provided to beyond that which has provided to
the other party prior to the Contribution Date.

         3.3 ADDITIONAL SERVICES. (a) From time to time after the Contribution
Date, the parties may identify additional services that one party will provide
to the other party in accordance with the terms of this Agreement (the
"Additional Services"). In such event, the parties shall prepare additional
Transition Service Schedules for such Additional Services for attachment to this
Agreement. Except as set forth in subsection (b) below, the parties may agree in
writing on Additional Services during the term of this Agreement.

         (b) Except as set forth in the next sentence, a party shall be
obligated to perform, at a charge determined using the principles for
determining fees under Section 5.1, any Additional Service that (i) was provided
by that party immediately prior to the Contribution Date and which a party
reasonably believes was inadvertently or unintentionally omitted from the list
of Services, or (ii) is essential to effectuate an orderly transition under the
Master Separation Agreement, unless (A) such performance would significantly
disrupt a party's operations or materially increase the scope of its
responsibility under this Agreement, or (B) tax counsel for either party
reasonably determines that the provision of those Additional Services could
jeopardize the tax treatment of the Distribution and related transactions as set
forth in the Letter Ruling. If a party reasonably believes the performance of
Additional Services required under subparagraphs (i) or (ii) above would
significantly disrupt its operations or materially increase the scope of its
responsibility under this Agreement or could jeopardize the tax treatment set
forth in the Letter Ruling, the parties shall negotiate in good faith to
establish terms under which a party can

                                        3
<PAGE>

provide such Additional Services, but a party shall not be obligated to provide
such Additional Services if, following good faith negotiation, it is unable to
reach agreement on such terms.

         3.4 ADDITIONAL RESOURCES. Except as provided in a Transition Service
Schedule for a specific Service, in providing the Services, the party providing
the Services shall not be obligated to: (i) hire any additional employees; (ii)
maintain the employment of any specific employee; (iii) purchase, lease or
license any additional equipment or software; or (iv) pay any costs related to
the transfer or conversion of such party's data to the other party or any
alternate supplier of the Services.

         3.5 IMPRACTICABILITY AND FORCE MAJEURE. A party shall not be required
to provide any Service to the extent the performance of such Service becomes
impracticable as a result of a cause or causes outside the reasonable control of
the party providing the service, or to the extent the performance of such
Service would require a party to violate any applicable laws, rules or
regulations. Each party will also be excused for any failure or delay in
performing any of its obligations under this Agreement if such failure or delay
is caused by Force Majeure.

         3.6 SUBCONTRACTORS. Each party may engage a subcontractor to perform
all or any portion of its duties under this Agreement; PROVIDED, HOWEVER, that
the party engaging the subcontractor shall remain responsible for the
performance of such subcontractor.

                                    ARTICLE 4
                                      TERM

         The term of this Agreement shall commence effective as of the
Contribution Date and shall remain in effect until one (1) year after the
Distribution Date (the "Termination Date"), unless earlier terminated as
provided in Article 7 hereof. The term of this Agreement may be extended by the
parties, either in whole or with respect to one or more of the Services, unless
either party reasonably determines any such extension could jeopardize the tax
treatment of the Distribution and related transactions set forth in the Letter
Ruling; PROVIDED, HOWEVER, that such extension shall only apply to the Services
for which the term of this Agreement was extended. The parties shall be deemed
to have extended this Agreement with respect to a specific Service if the
Transition Service Schedule for such Service specifies a completion date beyond
the Termination Date. The parties may agree on an earlier termination date
respecting a specific Service by specifying such date on the Transition Service
Schedule for that Service.

                                    ARTICLE 5
                                SERVICES CHARGES

         5.1 SERVICE CHARGES. The party receiving the Services shall pay the
party providing the Services the charges, if any, set forth on the Transition
Service Schedules for each of the Services listed therein as adjusted, from time
to time, in accordance with the procedures established under Section 5.4 hereof.
Such fees shall include all of the direct and indirect costs incurred in
providing the Services PLUS twenty percent (20%), unless specifically indicated
otherwise on a Transition Service Schedule. The parties also intend for charges
to be easy to

                                        4
<PAGE>

administer and justify and, therefore, they hereby acknowledge it may be
impracticable to attempt to recover every cost, charge or expense, particularly
those that are insignificant or de minimus. The parties shall use their good
faith efforts to discuss any situation in which the actual charge for a Service
is reasonably expected to exceed the estimated charge, if any, set forth on a
Transition Service Schedule for a particular Service; PROVIDED, HOWEVER, that
the incurrence of charges in excess of any such estimate on such Transition
Service Schedule shall not justify stopping the provision of, or payment for,
Services under this Agreement.

         5.2 PAYMENT. (a) Each party shall invoice other party monthly for all
charges for each calendar month within thirty (30) days after the end of such
month, provided that any failure by a party to provide an invoice within such
time period shall not relieve the other party of its obligation to pay an
invoice received after such date. All invoices shall reflect in reasonable
detail a description of the Services performed.

         (b) Subject to subparagraph (c) below, the party receiving the Services
shall pay the charges due hereunder with respect to such Services within thirty
(30) days after receipt of an invoice therefor. If a party fails to make any
monthly payment within sixty (60) days after its receipt of an invoice, such
party shall pay, in addition to the amount stated on such invoice, interest on
such amount at the prime rate published in the Wall Street Journal plus three
percent (3.0%) per annum compounded monthly for the period such amount remains
unpaid.

         (c) In the event that a party disputes any services charges under this
Agreement, such party shall promptly notify the other party of such dispute and
shall pay all undisputed amounts, but shall be entitled to withhold payment of
any amount in dispute (and shall not be obligated to pay interest on the amount
so withheld). The parties shall thereafter cooperate in good faith to resolve
such dispute promptly.

         (d) Any invoice or payment not disputed in writing by a party within
180 days of an invoice or payment, as the case may be, shall be considered final
and no longer subject to adjustment.

         5.3 PERFORMANCE UNDER ANCILLARY AGREEMENTS. Notwithstanding anything to
the contrary contained herein, neither party shall be charged under this
Agreement for any services that are specifically required to be performed under
the Master Separation Agreement or any other Ancillary Agreement and any such
services shall be performed and charged for (if applicable) in accordance with
the terms of the Master Separation Agreement or such other Ancillary Agreement.

         5.4 PRICING ADJUSTMENTS. The parties shall reasonably agree on a
procedure for making adjustments to the service charges as a result of changes
in the Services provided and the costs incurred by a party in performing the
Services.

                                    ARTICLE 6
                              PERFORMANCE STANDARDS

                                        5
<PAGE>

         6.1 PERFORMANCE STANDARDS. Subject to Section 3.4 and any other terms
and conditions of this Agreement, the party providing the Services shall
maintain sufficient resources to perform its obligations hereunder. Specific
performance criteria for each Service may be set forth in the corresponding
Transition Service Schedule. Where no performance criteria is set forth, the
party providing the Services shall use reasonable efforts to provide Services in
accordance with the policies, procedures and practices in effect before the
Contribution Date and shall exercise the same care and skill as it exercises in
performing similar services for itself.

         6.2 DISCLAIMER OF WARRANTIES. NEITHER PARTY MAKES ANY WARRANTIES,
EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, THE IMPLIED WARRANTIES OR
MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO THE
SERVICES PROVIDED BY IT UNDER THIS AGREEMENT.

         6.3 GOOD FAITH COOPERATION. The parties will use good faith efforts to
cooperate with each other in all matters relating to the provision and receipt
of Services. Such cooperation shall include exchanging information, performing
true-ups and adjustments, and obtaining all third party consents, licenses,
sublicenses or approvals necessary to permit each party to perform its
obligations hereunder. The costs of obtaining such third party consents,
licenses, sublicenses or approvals shall be borne by the party receiving the
Service. Each party will maintain in accordance with its standard document
retention procedures, appropriate documentation supporting the Services and
related charges provided for pursuant to this Agreement.

         6.4 ALTERNATIVES. If a party reasonably believes it is unable to
provide any Service, the parties shall cooperate to determine the best
alternative approach. Until such alternative approach is found or the problem
otherwise resolved to the satisfaction of the parties, the party providing the
Service shall use reasonable efforts, subject to Section 3.4 and Section 3.5, to
continue providing the Service.

                                    ARTICLE 7
                                   TERMINATION

         7.1 TERMINATION. (a) Each party may terminate this Agreement, either
with respect to all or any one or more of the Services provided by the other
party, at any time upon sixty (60) days prior written notice to the party
providing such Services.

         (b) Either party may terminate this Agreement with respect to any one
or more of the Services if the other party shall have failed to perform any of
its material obligations under this Agreement relating to any such Service(s),
the aggrieved party has notified the other party in writing of such failure, and
such failure shall have continued for a period of thirty (30) days after receipt
by the other party of notice of such failure.

         7.2 SURVIVAL. Those Articles and Sections of this Agreement that, by
their nature, are intended to survive termination will survive in accordance
with their terms. Notwithstanding the foregoing, in the event of any termination
with respect to one or more, but less than all Services, this Agreement shall
continue in full force and effect with respect to any Services which have not
been terminated.

                                        6
<PAGE>

                                    ARTICLE 8
                    LIMITATION OF LIABILITY; INDEMNIFICATION

         8.1 LIMITATION OF LIABILITY. (a) Each party agrees that the other party
and its directors, officers, employees and agents, shall only be liable to it
for or in connection with the Services rendered by the other party and the
performance of the other party's obligations under this Agreement, for claims,
damages, losses, liabilities, costs and expenses (including, without limitation,
reasonable attorneys' fees) resulting from, or arising out of, breach of
contract, gross negligence or willful misconduct on the part of such party.

         (b) WITHOUT LIMITING THE FOREGOING, NEITHER PARTY WILL BE LIABLE TO THE
OTHER FOR ANY LOST PROFITS OR OTHER SPECIAL, INCIDENTAL, INDIRECT, PUNITIVE OR
CONSEQUENTIAL DAMAGES, HOWEVER CAUSED, UNDER ANY THEORY OF LIABILITY, ARISING
FROM ITS PERFORMANCE OF THE SERVICES OR OTHERWISE RELATING TO THIS AGREEMENT.

         8.2 INDEMNIFICATION. Each party agrees to indemnify and hold harmless
the other party and its directors, officers, employees and agents, from and
against any claims, damages, losses, liabilities, costs and expenses (including,
without limitation, reasonable attorneys' fees) arising out of or in connection
with the Services rendered by such party and the performance by such party of
its obligations under this Agreement, except for claims, damages, losses,
liabilities, costs and expenses (including, without limitation, reasonable
attorneys' fees) resulting from, or arising out of, breach of contract, gross
negligence or willful misconduct on the part of the other party hereto.

                                    ARTICLE 9
                                 CONFIDENTIALITY

         9.1 CONFIDENTIALITY. (a) Each party agrees to keep confidential and not
disclose, and shall cause their respective subsidiaries and affiliates to keep
confidential and not disclose, to any party or use for any purpose (other than
the performance of this Agreement), any proprietary or other confidential
information of the other party which is received pursuant to this Agreement
("Confidential Information"). Confidential Information shall be subject to the
restrictions in this paragraph only if it is marked as confidential or
proprietary or, if not disclosed in tangible form, the disclosing party notifies
the recipient of its confidential or proprietary nature prior to its disclosure
and confirms the same in writing within thirty (30) days of its disclosure.

         (b) For purposes of this Agreement, Confidential Information of a party
does not include information which: (i) is already known to the receiving party
from a source other than the disclosing party; (ii) is or becomes publicly known
through no wrongful act of the receiving party (in which event the receiving
party's obligations under this Agreement in respect thereto shall terminate on
the date such information enters the public domain; (iii) is rightfully received
by the receiving party from a third party without violation of any obligations
of confidentiality owned by a third party to the disclosing party; (iv) is
disclosed by the disclosing party to a third party without restrictions on the
third party's right to use or disclose such information; (v) is independently
developed by employees or consultants of the receiving party without use of or

                                        7
<PAGE>

reference to the disclosing party's Confidential Information; or (vi) is
approved for release by written authorization of the disclosing party.

                                   ARTICLE 10
                                  MISCELLANEOUS

         10.1 ENTIRE AGREEMENT. This Agreement and the schedules referenced or
attached hereto constitutes the entire agreement between the parties with
respect to the subject matter hereof and shall supersede all prior agreements
and understandings, whether written or oral, with respect thereto.

         10.2 RELATIONSHIP. The relationship between the parties established
under this Agreement is that of independent contractors. Nothing in this
Agreement shall constitute or be deemed to constitute a partnership or joint
venture between the parties hereto or constitute or be deemed to constitute any
party as the agent or employee of the other party for any purpose whatsoever and
neither party shall have the authority or power to bind the other or to contract
in the name of, or create a liability against, the other in any way or for any
purpose.

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

         10.4 AMENDMENTS. This Agreement may not be amended or modified in any
respect except by a written agreement signed by both of the parties hereto.

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

         If to Methode:               Methode Electronics, Inc.
                                      7401 West Wilson Avenue
                                      Chicago, Illinois  60706
                                      Attention:  Chief Financial Officer

                                        8
<PAGE>

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

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

         10.6 NONASSIGNABILITY. Except as specifically provided herein, neither
party may, directly or indirectly, in whole or in part, whether by operation of
law or otherwise, assign or transfer this Agreement, without the other party's
prior written consent, and any attempted assignment, transfer or delegation
without such prior written consent shall be voidable at the sole option of such
other party. Notwithstanding the foregoing, each party (or its permitted
successive assignees or transferees hereunder) may assign or transfer this
Agreement as a whole without consent to an entity that succeeds to all or
substantially all of the business or assets of such party. Subject to the
foregoing, this Agreement will be binding upon and inure to the benefit of the
parties and their permitted successors and assigns.

         10.7 SEVERABILITY. If any term or other provision of this Agreement is
determined by a court, administrative agency or arbitrator to be invalid,
illegal or incapable of being enforced by any rule of law or public policy, all
other conditions and provisions of this Agreement will nevertheless remain in
full force and effect so long as the economic or legal substance of the
transactions contemplated is not affected in any manner materially adverse to
any party. Upon such determination that any term or other provision is invalid,
illegal or incapable of being enforced, the parties shall negotiate in good
faith to modify this Agreement so as to effect the original intent of the
parties as closely as possible in an acceptable manner to the end that
transactions contemplated hereby are fulfilled to the fullest extent possible.

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

         10.9 HEADINGS. The headings contained in this Agreement and in any
schedule hereto are for reference purposes only and shall not affect in any way
the meaning or interpretation of this Agreement. Any capitalized term used in
any schedule but not otherwise defined therein, shall have the meaning assigned
to such term in this Agreement. When a reference is made in this Agreement to an
Article or a Section or Schedule, such reference shall be to an article or
section of, or a schedule to, this Agreement unless otherwise indicated.

                                        9
<PAGE>

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

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

                                      METHODE ELECTRONICS, INC.

                                      By:   /s/  Kevin J. Hayes
                                         -------------------------------------
                                               Kevin J. Hayes
                                               Executive Vice President and
                                               Chief Financial Officer

                                      STRATOS LIGHTWAVE, INC.

                                      By:   /s/ David A. Slack
                                         -------------------------------------
                                               David A. Slack
                                               Vice President, Finance and
                                               Chief Financial Officer

                                       10

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