Document:

Exhibit 4(c)

                        FORM OF SHARED PLEDGE AGREEMENT

          This SHARED PLEDGE AGREEMENT, dated as of May 15, 2003 (together
with all amendments, if any, from time to time hereto, this "Agreement") among
BLOUNT INTERNATIONAL, INC., a Delaware corporation ("Holdings"), BLOUNT, INC.,
a Delaware corporation ("Blount, Inc."), each of the Subsidiaries of Blount,
Inc. signatory hereto and those additional entities that hereafter become
parties hereto by executing the form of Supplement attached hereto as Annex 1
(Holdings, Blount, Inc., and each such Subsidiary, collectively, "Pledgors"
and individually, a "Pledgor"), and GENERAL ELECTRIC CAPITAL CORPORATION, as
collateral agent (in such capacity, "Collateral Agent") for the holders from
time to time of the Secured Obligations (as defined below).

                             W I T N E S S E T H:

          WHEREAS, Holdings, Blount, Inc. and, as applicable, the other Credit
Parties are parties to (a) the Credit Agreement, dated as of May 15, 2003 (as
amended, restated, supplemented or otherwise modified from time to time, the
"Credit Agreement"), among Holdings, Blount, Inc., the other Credit Parties
thereto, the Canadian Credit Parties, the several banks and other financial
institutions or entities from time to time parties thereto as lenders (the
"Lenders"), General Electric Capital Canada Inc., as Canadian Agent, and
General Electric Capital Corporation, as Agent, and (b) the Indenture dated as
of June 18, 1998 (as amended, restated, supplemented or otherwise modified
from time to time, the "Existing Senior Notes Indenture") among Blount, Inc.,
Holdings and Lasalle National Bank, as Trustee (the "Indenture Trustee"); and

          WHEREAS, pursuant to the provisions of the Existing Senior Notes
Indenture as it exists on the date hereof, Blount, Inc. and Holdings may not,
and may not permit any of their respective Subsidiaries to, secure the Credit
Agreement Obligations with a Mortgage on any Principal Property or any shares
of Capital Stock or Debt (as such terms are defined in the Existing Senior
Notes Indenture) of Holdings, Blount, Inc. or any of its Subsidiaries without
equally and ratably securing the Existing Senior Note Obligations (as defined
below); and

          WHEREAS, Pledgors are members of an affiliated group of companies
and are engaged in related businesses, and each Pledgor will derive
substantial direct and indirect benefit from the extensions of credit made
available to Borrowers under the Credit Agreement; and

          WHEREAS, each Pledgor is the record and beneficial owner of the
shares of Stock listed next to such Pledgor's name in Part A of Schedule I
hereto and the owner of the promissory notes and instruments listed next to
such Pledgor's name in Part B of Schedule I hereto;

          WHEREAS, in order to induce Agent and Lenders to make the Loans and
to incur the Letter of Credit Obligations as provided for in the Credit
Agreement, each Pledgor has agreed to pledge the Pledged Collateral to Agent
in accordance herewith;

          NOW, THEREFORE, in consideration of the premises and mutual
covenants herein contained and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

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          1. Definitions. Unless otherwise defined herein, terms defined in
the Credit Agreement and used herein shall have the meanings given to them in
the Credit Agreement. As used in this Agreement, the capitalized terms defined
in the recitals hereto shall have the meanings specified therein, and the
following terms have the meanings specified below:

          "Bankruptcy Code" means title 11, United States Code, as amended
from time to time, and any successor statute thereto.

          "Credit Agreement Obligations" means (i) in the case of each
Borrower, Obligations, and (ii) in the case of each US Credit Party, its
Guaranteed Obligations as defined in the US Guaranty.

          "Existing Senior Note Obligations" means the obligations (without
duplication) of Blount, Inc. and Holdings to pay the principal of, and
premium, if any, and interest on, the Existing Senior Notes; provided that the
"Existing Senior Note Obligations" shall not in any event include any
obligations in respect of debt securities issued under the Existing Senior
Notes Indenture after the date hereof.

          "Pledged Collateral" has the meaning assigned to such term in
Section 2 hereof.

          "Pledged Entity" means an issuer of Pledged Shares or Pledged
Indebtedness.

          "Pledged Indebtedness" means all now existing or hereafter arising
indebtedness for money borrowed of a Subsidiary of Holdings, including the
Indebtedness evidenced by promissory notes and instruments listed on Part B of
Schedule I hereto.

          "Pledged Shares" means those shares of Stock listed on Part A of
Schedule I, provided that, with respect to any Stock of any Foreign Subsidiary
or a Canadian Subsidiary owned by a Pledgor, "Pledged Shares" shall mean no
more than 65% of the voting Stock of such Foreign Subsidiary or a Canadian
Subsidiary.

          "Proceeds" means all "proceeds" as such term is defined in the Code
and, in any event, shall include, without limitation, all dividends or other
income from the Pledged Shares, collections thereon or distributions or
payments with respect thereto.

          "Secured Obligations" means, without duplication, (i) the Credit
Agreement Obligations and (ii) the Existing Senior Note Obligations; provided
that the "Secured Obligations" shall not in any event include any obligations
in respect of debt securities issued under the Existing Senior Notes Indenture
after the date hereof.

          "Secured Parties" means (i) the Lenders, (ii) the Swing Line Lender,
(iii) the Agent, (iv) the Canadian Agent, (v) the holders of the Existing
Senior Notes and (vi) the Indenture Trustee.

          2. Pledge. Each Pledgor hereby pledges to Collateral Agent, and
grants to Collateral Agent for itself and the benefit of Secured Parties, a
first priority security interest in all of the following (collectively, the
"Pledged Collateral"):

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          (a)  the Pledged Shares and the certificates representing the Pledged
Shares, and, subject to Section 7(b) below, all dividends, distributions,
cash, instruments and other property or proceeds from time to time received,
receivable or otherwise distributed in respect of or in exchange for any or
all of the Pledged Shares; and

          (b)  such portion, as provided in Section 6(d) below, of any
additional shares of stock of a Pledged Entity from time to time acquired by
such Pledgor in any manner (which shares shall be deemed to be part of the
Pledged Shares), and the certificates representing such additional shares, and
all dividends, distributions, cash, instruments and other property or proceeds
from time to time received, receivable or otherwise distributed in respect of
or in exchange for any or all of such Stock; and

          (c)  the Pledged Indebtedness and the promissory notes or instruments
evidencing the Pledged Indebtedness, and, subject to Section 7(b) below, all
interest, cash, instruments and other property and assets from time to time
received, receivable or otherwise distributed in respect of the Pledged
Indebtedness; and

          (d)  all additional Indebtedness arising after the date hereof and
owing to such Pledgor and evidenced by promissory notes or other instruments,
together with such promissory notes and instruments, and, subject to Section
7(b) below, all interest, cash, instruments and other property and assets from
time to time received, receivable or otherwise distributed in respect of that
Pledged Indebtedness.

          3. Security for Obligations. This Agreement secures, and the Pledged
Collateral is security for, the prompt payment in full when due, whether at
stated maturity, by acceleration or otherwise, and performance of all Secured
Obligations.

          4. Delivery of Pledged Collateral. All certificates and all
promissory notes and instruments evidencing the Pledged Collateral shall be
delivered to and held by or on behalf of Collateral Agent, for itself and the
benefit of Secured Parties, pursuant hereto. All Pledged Shares shall be duly
endorsed in blank or transfer or accompanied by duly executed instruments of
transfer or assignment in blank, all in form and substance satisfactory to
Collateral Agent and all promissory notes or other instruments evidencing the
Pledged Indebtedness shall be endorsed (without recourse) in blank by the
applicable Pledgor. The pledge of the applicable Pledged Shares (and any
related rights as set out in this Agreement) to the Collateral Agent, for
itself and the benefit of the Secured Parties shall be recorded by each
Pledged Entity on their respective share registers.

          5. Representations and Warranties. Each Pledgor represents and
warrants to Collateral Agent that:

          (a)  Such Pledgor is, upon payment of the Prior Lender Obligations,
     and at the time of delivery of the Pledged Shares to Collateral Agent
     will be, the sole holder of record and the sole beneficial owner of such
     Pledged Collateral pledged by such Pledgor free and clear of any Lien
     thereon or affecting the title thereto, except for any Lien created by
     this Agreement; such Pledgor is and at the time of delivery of the
     Pledged Indebtedness to Collateral Agent will be, the sole owner of such
     Pledged

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     Collateral free and clear of any Lien thereon or affecting title thereto,
     except for any Lien created by this Agreement;

          (b)  All of the Pledged Shares have been duly authorized, validly
     issued and are fully paid and non-assessable; the Pledged Indebtedness
     has been duly authorized, authenticated or issued and delivered by, and
     is the legal, valid and binding obligations of, the Pledged Entities,
     enforceable in accordance with its terms, except as enforceability
     thereof may be limited by bankruptcy, insolvency, reorganization,
     fraudulent transfer, moratorium or other similar laws affecting
     creditors' rights generally and general principles of equity (regardless
     of whether such enforceability is considered in a proceeding at law or in
     equity) and no such Pledged Entity is in default thereunder;

          (c)  Such Pledgor has the right and requisite authority to pledge,
     assign, transfer, deliver, deposit and set over the Pledged Collateral
     pledged by such Pledgor to Collateral Agent as provided herein;

          (d)  None of the Pledged Shares or Pledged Indebtedness has been
     issued or transferred in violation of the securities registration or
     qualification, securities disclosure or similar laws of any jurisdiction
     to which such issuance or transfer may be subject;

          (e)  All of the Pledged Shares are presently owned by such Pledgor,
     and are presently represented by the certificates listed on Part A of
     Schedule I hereto. As of the date hereof, there are no existing options,
     warrants, calls or commitments of any character whatsoever relating to
     the Pledged Shares;

          (f)  No consent, approval, authorization or other order or other
     action by, and no notice to or filing with, any Governmental Authority or
     any other Person is required (i) for the pledge and grant of a lien by
     such Pledgor of the Pledged Collateral pursuant to this Agreement or for
     the execution, delivery or performance of this Agreement by such Pledgor,
     or (ii) for the exercise by Collateral Agent of the voting or other
     rights provided for in this Agreement or the remedies in respect of the
     Pledged Collateral pursuant to this Agreement, except as may be required
     in connection with such disposition by laws affecting the offering and
     sale of securities generally [and except for the approval of the board of
     directors or shareholders of such Pledged Entity as required under the
     corporate laws under which such Pledged Entity is incorporated, which
     approval has been granted];

          (g)  The pledge, assignment and delivery of the Pledged Collateral
     pursuant to this Agreement will create a valid first priority Lien on and
     a first priority perfected security interest in favor of Collateral Agent
     for the benefit of Collateral Agent and Secured Parties in the Pledged
     Collateral and the proceeds thereof, securing the payment of the Secured
     Obligations, subject to no other Lien;

          (h)  This Agreement has been duly authorized, executed and delivered
     by Pledgor and constitutes a legal, valid and binding obligation of
     Pledgor enforceable against Pledgor in accordance with its terms;

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          (i) The Pledged Shares constitute the percentage of the issued and
     outstanding shares of Stock of each Pledged Entity as set forth on Part A
     of Schedule I;

          (j) Except as disclosed on Part B of Schedule I, none of the Pledged
     Indebtedness is subordinated in right of payment to other Indebtedness
     (except for the Secured Obligations) or subject to the terms of an
     indenture; and

          (k) [Blount, Inc., the managing member of BI, L.L.C., a Delaware
     limited liability company ("BI L.L.C."), (i) unconditionally consents to
     the Transfer (as defined in the Operating Agreement of BI, L.L.C.
     effective as of March 1, 1997, the "Operating Agreement") of all of the
     membership interests in BI, L.L.C. (the "Membership Interests") to
     Collateral Agent pursuant to this Agreement and (ii) unconditionally
     consents to any subsequent Transfer of the Membership Interests by
     Collateral Agent pursuant to this Agreement. Each Member (as defined in
     the Operating Agreement) agrees (w) that notwithstanding anything to the
     contrary under the Operating Agreement (including, without limitation,
     Article IX), any Transfer pursuant to clause (i) and (ii) in the
     preceding sentence shall not be subject to any of the terms and
     conditions of the Operating Agreement, (x) that any such Transfer shall
     be given full force and effect for the purposes of the Operating
     Agreement, (y) to waive any "right of first refusal" which may arise
     pursuant to Section 11.5 of the Operating Agreement and (z) that this
     Section 5(k) shall constitute an amendment to and waiver of the Operating
     Agreement to the extent provided herein, and such amendment and waiver
     shall continue in full force and effect for the term of this Agreement.]

          The representations and warranties set forth in this Section 5 shall
survive the execution and delivery of this Agreement.

          6. Covenants. Each Pledgor covenants and agrees that until the
Termination Date:

          (a) Without the prior written consent of Collateral Agent, such
     Pledgor will not sell, assign, transfer, exchange, pledge, or otherwise
     encumber any of its rights in or to the Pledged Collateral, or any unpaid
     dividends, interest or other distributions or payments with respect to
     the Pledged Collateral or grant a Lien in the Pledged Collateral, unless
     otherwise expressly permitted by the Credit Agreement and as set forth in
     this Agreement;

          (b) Such Pledgor will, at its expense, promptly execute, acknowledge
     and deliver all such instruments and take all such actions as Collateral
     Agent from time to time may request in order to ensure to Collateral
     Agent and Secured Parties the benefits of the Liens in and to the Pledged
     Collateral intended to be created by this Agreement, including the filing
     of any necessary Uniform Commercial Code ("UCC") financing statements or
     similar statements under appropriate laws, which may be filed by
     Collateral Agent with or (to the extent permitted by law) without the
     signature of such Pledgor, and will cooperate with Collateral Agent, at
     such Pledgor's expense, in obtaining all necessary approvals and making
     all necessary filings under federal (domestic or foreign), state,
     provincial, local or foreign law in connection with such Liens or any
     sale or transfer

<PAGE>

     of the Pledged Collateral and such Pledgor also hereby ratifies its
     authorization for Collateral Agent to have filed in any jurisdiction any
     financing statements or amendments thereto if filed prior to the date
     hereof;

          (c) Such Pledgor has and will defend the title to the Pledged
     Collateral and the Liens of Collateral Agent in the Pledged Collateral
     against the claim of any Person and will maintain and preserve such
     Liens; and

          (d) Such Pledgor will, upon obtaining ownership of any additional
     Stock or promissory notes or instruments of a Pledged Entity or Stock or
     promissory notes or instruments otherwise required to be pledged to
     Collateral Agent pursuant to any of the Loan Documents, which Stock,
     notes or instruments are not already Pledged Collateral, promptly (and in
     any event within three (3) Business Days) deliver to Collateral Agent a
     Pledge Amendment, duly executed by the applicable Pledgor, in
     substantially the form of Schedule II hereto (a "Pledge Amendment") in
     respect of any such additional Stock(or, in the case of Stock of a
     Foreign Subsidiary or a Canadian Subsidiary, 65% of such Stock), notes or
     instruments, pursuant to which such Pledgor shall pledge to Collateral
     Agent all of such additional Stock, notes and instruments. Each Pledgor
     hereby authorizes Collateral Agent to attach each Pledge Amendment to
     this Agreement and agrees that all Pledged Shares and Pledged
     Indebtedness listed on any Pledge Amendment delivered to Collateral Agent
     shall for all purposes hereunder be considered Pledged Collateral.

          7. Pledgors' Rights. As long as no Default or Event of Default shall
have occurred and be continuing and until written notice shall be given to
Pledgors in accordance with Section 8(a) hereof:

          (a) Pledgors shall have the right, from time to time, to vote and
     give consents with respect to the Pledged Collateral, or any part thereof
     for all purposes not inconsistent with the provisions of this Agreement,
     the Credit Agreement or any other Loan Document; provided, however, that
     no vote shall be cast, and no consent shall be given or action taken,
     which would have the effect of impairing the position or interest of
     Collateral Agent in respect of the Pledged Collateral or which would
     authorize, effect or consent to (unless and to the extent expressly
     permitted by the Credit Agreement):

                    (i) the dissolution or liquidation, in whole or in part,
of a Pledged Entity;

                    (ii) the consolidation, merger or amalgamation of a
Pledged Entity with any other Person;

                    (iii) the sale, disposition or encumbrance of all or
substantially all of the assets of a Pledged Entity, except for Liens in favor
of Collateral Agent;

                    (iv) any change in the authorized number of shares, the
stated capital or the authorized share capital of a Pledged Entity or the
issuance of any additional shares of its Stock; or

<PAGE>

                    (v) the alteration of the voting rights with respect to
the Stock of a Pledged Entity; and

               (b) (i) Pledgors shall be entitled, from time to time, to
collect and receive for their own use all cash dividends and interest paid in
respect of the Pledged Shares and Pledged Indebtedness to the extent not in
violation of the Credit Agreement other than any and all: (A) dividends and
interest paid or payable other than in cash in respect of any Pledged
Collateral, and instruments and other property received, receivable or
otherwise distributed in respect of, or in exchange for, any Pledged
Collateral; (B) dividends and other distributions paid or payable in cash in
respect of any Pledged Shares in connection with a partial or total
liquidation or dissolution or in connection with a reduction of capital,
capital surplus or paid-in capital of a Pledged Entity; and (C) cash paid,
payable or otherwise distributed, in respect of principal of, or in redemption
of, or in exchange for, any Pledged Collateral; provided, however, that until
actually paid all rights to such distributions shall remain subject to the
Lien created by this Agreement; and

               (ii) all dividends and interest (other than such cash dividends
and interest as are permitted to be paid to any Pledgor in accordance with
Section 7(b)(i) above) and all other distributions in respect of any of the
Pledged Shares or Pledged Indebtedness, whenever paid or made, shall be
delivered to Collateral Agent to hold as Pledged Collateral and shall, if
received by any Pledgor, be received in trust for the benefit of Collateral
Agent, be segregated from the other property or funds of such Pledgor, and be
forthwith delivered to Collateral Agent as Pledged Collateral in the same form
as so received (with any necessary indorsement).

          8. Defaults and Remedies; Proxy.

          (a) Upon the occurrence of an Event of Default and during the
     continuation of such Event of Default, and concurrently with written
     notice to Pledgors, Collateral Agent (personally or through an agent) is
     hereby authorized and empowered to transfer and register in its name or
     in the name of its nominee the whole or any part of the Pledged
     Collateral, to exchange certificates or instruments representing or
     evidencing Pledged Collateral for certificates or instruments of smaller
     or larger denominations, to exercise the voting and all other rights as a
     holder with respect thereto, to collect and receive all cash dividends,
     interest, principal and other distributions made thereon, to sell,
     subject to applicable securities laws in one or more sales after ten (10)
     days' notice of the time and place of any public sale or of the time at
     which a private sale is to take place (which notice each Pledgor agrees
     is commercially reasonable) the whole or any part of the Pledged
     Collateral and to otherwise act with respect to the Pledged Collateral as
     though Collateral Agent was the outright owner thereof. Any sale shall be
     made at a public or private sale at Collateral Agent's place of business,
     or at any place to be named in the notice of sale, either for cash or
     upon credit or for future delivery at such price as Collateral Agent may
     deem fair, and Collateral Agent may be the purchaser of the whole or any
     part of the Pledged Collateral so sold and hold the same thereafter in
     its own right free from any claim of any Pledgor or any right of
     redemption. Each sale shall be made to the highest bidder, but Collateral
     Agent reserves the right to reject any and all bids at

<PAGE>

     such sale which, in its discretion, it shall deem inadequate. Demands of
     performance, except as otherwise herein specifically provided for,
     notices of sale, advertisements and the presence of property at sale are
     hereby waived and any sale hereunder may be conducted by an auctioneer or
     any officer or agent of Collateral Agent. EACH PLEDGOR HEREBY IRREVOCABLY
     CONSTITUTES AND APPOINTS COLLATERAL AGENT AS THE PROXY AND
     ATTORNEY-IN-FACT OF SUCH PLEDGOR WITH RESPECT TO THE PLEDGED COLLATERAL,
     INCLUDING THE RIGHT TO VOTE THE PLEDGED SHARES, WITH FULL POWER OF
     SUBSTITUTION TO DO SO. THE APPOINTMENT OF COLLATERAL AGENT AS PROXY AND
     ATTORNEY-IN-FACT IS COUPLED WITH AN INTEREST AND SHALL BE IRREVOCABLE
     UNTIL THE TERMINATION DATE. IN ADDITION TO THE RIGHT TO VOTE THE PLEDGED
     SHARES, THE APPOINTMENT OF COLLATERAL AGENT AS PROXY AND ATTORNEY-IN-FACT
     SHALL INCLUDE THE RIGHT TO EXERCISE ALL OTHER RIGHTS, POWERS, PRIVILEGES
     AND REMEDIES TO WHICH A HOLDER OF THE PLEDGED SHARES WOULD BE ENTITLED
     (INCLUDING GIVING OR WITHHOLDING WRITTEN CONSENTS OF SHAREHOLDERS,
     CALLING SPECIAL MEETINGS OF SHAREHOLDERS AND VOTING AT SUCH MEETINGS).
     SUCH PROXY SHALL BE EFFECTIVE, AUTOMATICALLY AND WITHOUT THE NECESSITY OF
     ANY ACTION (INCLUDING ANY TRANSFER OF ANY PLEDGED SHARES ON THE RECORD
     BOOKS OF THE ISSUER THEREOF) BY ANY PERSON (INCLUDING THE ISSUER OF THE
     PLEDGED SHARES OR ANY OFFICER OR COLLATERAL AGENT THEREOF), UPON THE
     OCCURRENCE OF AN EVENT OF DEFAULT. NOTWITHSTANDING THE FOREGOING,
     COLLATERAL AGENT SHALL NOT HAVE ANY DUTY TO EXERCISE ANY SUCH RIGHT OR TO
     PRESERVE THE SAME AND SHALL NOT BE LIABLE FOR ANY FAILURE TO DO SO OR FOR
     ANY DELAY IN DOING SO.

          (b) If, at the original time or times appointed for the sale of the
     whole or any part of the Pledged Collateral, the highest bid, if there be
     but one sale, shall be inadequate to discharge in full all the Secured
     Obligations, or if the Pledged Collateral be offered for sale in lots, if
     at any of such sales, the highest bid for the lot offered for sale would
     indicate to Collateral Agent, in its discretion, that the proceeds of the
     sales of the whole of the Pledged Collateral would be unlikely to be
     sufficient to discharge all the Secured Obligations, Collateral Agent
     may, on one or more occasions and in its discretion, postpone any of said
     sales by public announcement at the time of sale or the time of previous
     postponement of sale, and no other notice of such postponement or
     postponements of sale need be given, any other notice being hereby
     waived; provided, however, that any sale or sales made after such
     postponement shall be after ten (10) days' notice to Pledgors.

          (c) If, at any time when Collateral Agent in its sole discretion
     determines, following the occurrence and during the continuance of an
     Event of Default, that, in connection with any actual or contemplated
     exercise of its rights (when permitted under this Section 8) to sell the
     whole or any part of the Pledged Shares hereunder, it is necessary or
     advisable to effect a public registration of all or part of the Pledged
     Collateral pursuant to the Securities Act of 1933, as amended (or any
     similar statute then

<PAGE>

     in effect including similar statutes or laws in any other applicable
     jurisdiction) (the "Act"), the applicable Pledgor shall, in an
     expeditious manner, cause the Pledged Entities to:

               (i) Prepare and file with the Securities and Exchange
          Commission or any other applicable securities regulatory authority
          (the "Commission") a registration statement with respect to the
          Pledged Shares and in good faith use commercially reasonable efforts
          to cause such registration statement or propectus to become and
          remain effective;

               (ii) Prepare and file with the Commission such amendments and
          supplements to such registration statement and the prospectus used
          in connection therewith as may be necessary to keep such
          registration statement effective and to comply with the provisions
          of the Act with respect to the sale or other disposition of the
          Pledged Shares covered by such registration statement or propectus
          whenever Collateral Agent shall desire to sell or otherwise dispose
          of the Pledged Shares;

               (iii) Furnish to Collateral Agent such numbers of copies of a
          prospectus and a preliminary prospectus, in conformity with the
          requirements of the Act, and such other documents as Collateral
          Agent may request in order to facilitate the public sale or other
          disposition of the Pledged Shares by Collateral Agent;

               (iv) Use commercially reasonable efforts to register or qualify
          the Pledged Shares covered by such registration statement under such
          other securities or blue sky laws of such jurisdictions within the
          United States and Puerto Rico (or other applicable jurisdiction) as
          Collateral Agent shall request, and do such other reasonable acts
          and things as may be required of it to enable Collateral Agent to
          consummate the public sale or other disposition in such
          jurisdictions of the Pledged Shares by Collateral Agent;

               (v) Furnish, at the request of Collateral Agent, on the date
          that shares of the Pledged Collateral are delivered to the
          underwriters for sale pursuant to such registration or qualification
          or, if the security is not being sold through underwriters, on the
          date that the registration statement with respect to such Pledged
          Shares becomes effective, (A) an opinion, dated such date, of the
          independent counsel representing such registrant for the purposes of
          such registration, addressed to the underwriters, if any, and in the
          event the Pledged Shares are not being sold through underwriters,
          then to Collateral Agent, in customary form and covering matters of
          the type customarily covered in such legal opinions; and (B) a
          comfort letter, dated such date, from the independent certified
          public accountants of such registrant, addressed to the
          underwriters, if any, and in the event the Pledged Shares are not
          being sold through underwriters, then to Collateral Agent, in a
          customary form and covering matters of the type customarily covered
          by such comfort letters and as the underwriters or Collateral Agent
          shall reasonably request. The opinion of counsel referred to above
          shall additionally cover such other legal matters with respect to
          the registration or qualification in respect of which such opinion
          is being given as Collateral Agent may reasonably request. The
          letter referred to above from the independent certified public
          accountants shall additionally

<PAGE>

          cover such other financial matters (including information as to the
          period ending not more than five (5) Business Days prior to the date
          of such letter) with respect to the registration in respect of which
          such letter is being given as Collateral Agent may reasonably
          request; and

               (vi) Otherwise use commercially reasonable efforts to comply
          with all applicable rules and regulations of the Commission, and
          make available to its security holders, as soon as reasonably
          practicable but not later than eighteen (18) months after the
          effective date of the registration statement, an earnings statement
          covering the period of at least twelve (12) months beginning with
          the first full month after the effective date of such registration
          statement, which earnings statement shall satisfy the provisions of
          Section 11(a) of the Act.

          (d) All expenses incurred in complying with Section 8(c) hereof,
     including, without limitation, all registration and filing fees
     (including all expenses incident to filing with the National Association
     of Securities Dealers, Inc.), printing expenses, fees and disbursements
     of counsel for the registrant, the fees and expenses of counsel for
     Collateral Agent, expenses of the independent certified public
     accountants (including any special audits incident to or required by any
     such registration) and expenses of complying with the securities or blue
     sky laws or any jurisdictions, shall be paid by the applicable Pledgor.

          (e) If, at any time when Collateral Agent shall determine to
     exercise its right to sell the whole or any part of the Pledged
     Collateral hereunder, such Pledged Collateral or the part thereof to be
     sold shall not, for any reason whatsoever, be effectively registered
     under the Act, Collateral Agent may, in its discretion (subject only to
     applicable requirements of law), sell such Pledged Collateral or part
     thereof by private sale in such manner and under such circumstances as
     Collateral Agent may deem necessary or advisable, but subject to the
     other requirements of this Section 8, and shall not be required to effect
     such registration or qualification or to cause the same to be effected.
     Without limiting the generality of the foregoing, in any such event,
     Collateral Agent in its discretion (x) may, in accordance with applicable
     securities laws, proceed to make such private sale notwithstanding that a
     registration statement or prospectus for the purpose of registering or
     qualifying such Pledged Collateral or part thereof could be or shall have
     been filed under said Act (or similar statute), (y) may approach and
     negotiate with a single possible purchaser to effect such sale, and (z)
     may restrict such sale to a purchaser who is an accredited investor under
     the Act and who will represent and agree that such purchaser is
     purchasing for its own account, for investment and not with a view to the
     distribution or sale of such Pledged Collateral or any part thereof. In
     addition to a private sale as provided above in this Section 8, if any of
     the Pledged Collateral shall not be freely distributable to the public
     without registration or qualification under the Act (or similar statute)
     at the time of any proposed sale pursuant to this Section 8, then
     Collateral Agent shall not be required to effect such registration or
     cause the same to be effected but, in its discretion (subject only to
     applicable requirements of law), may require that any sale hereunder
     (including a sale at auction) be conducted subject to restrictions:

<PAGE>

             (i) as to the financial sophistication and ability of any Person
     permitted to bid or purchase at any such sale;

             (ii) as to the content of legends to be placed upon any
certificates representing the Pledged Collateral sold in such sale, including
restrictions on future transfer thereof;

             (iii) as to the representations required to be made by each Person
     bidding or purchasing at such sale relating to that Person's access to
     financial information about any Pledged Entity and such Person's
     intentions as to the holding of the Pledged Collateral so sold for
     investment for its own account and not with a view to the distribution
     thereof; and

             (iv) as to such other matters as Collateral Agent may, in its
     discretion, deem necessary or appropriate in order that such sale
     (notwithstanding any failure so to register) may be effected in
     compliance with the Bankruptcy Code and other laws affecting the
     enforcement of creditors' rights and the Act and all applicable state or
     provincial securities laws.

          (f) Each Pledgor recognizes that Collateral Agent may be unable to
     effect a public sale of any or all the Pledged Collateral and may be
     compelled to resort to one or more private sales thereof in accordance
     with clause (e) above. Each Pledgor also acknowledges that any such
     private sale may result in prices and other terms less favorable to the
     seller than if such sale were a public sale and, notwithstanding such
     circumstances, agrees that any such private sale shall not be deemed to
     have been made in a commercially unreasonable manner solely by virtue of
     such sale being private. Collateral Agent shall be under no obligation to
     delay a sale of any of the Pledged Collateral for the period of time
     necessary to permit the Pledged Entity to register such securities for
     public sale under the Act, or under applicable state securities laws or
     any other applicable requirement or law, even if any Pledgor and the
     Pledged Entity would agree to do so.

          (g) Each Pledgor agrees to the maximum extent permitted by
     applicable law that following the occurrence and during the continuance
     of an Event of Default it will not at any time plead, claim or take the
     benefit of any appraisal, valuation, stay, extension, moratorium or
     redemption law now or hereafter in force in order to prevent or delay the
     enforcement of this Agreement, or the absolute sale of the whole or any
     part of the Pledged Collateral or the possession thereof by any purchaser
     at any sale hereunder, and each Pledgor waives the benefit of all such
     laws to the extent it lawfully may do so. Each Pledgor agrees that it
     will not interfere with any right, power and remedy of Collateral Agent
     provided for in this Agreement or now or hereafter existing at law or in
     equity or by statute or otherwise, or the exercise or beginning of the
     exercise by Collateral Agent of any one or more of such rights, powers or
     remedies. No failure or delay on the part of Collateral Agent to exercise
     any such right, power or remedy and no notice or demand which may be
     given to or made upon any Pledgor by Collateral Agent with respect to any
     such remedies shall operate as a waiver thereof, or limit or

<PAGE>

impair Collateral Agent's right to take any action or to exercise any power or
remedy hereunder, without notice or demand, or prejudice its rights as against
such Pledgor in any respect.

          (h) Each Pledgor further agrees that a breach of any of the
     covenants contained in this Section 8 will cause irreparable injury to
     Collateral Agent, that Collateral Agent shall have no adequate remedy at
     law in respect of such breach and, as a consequence, agrees that each and
     every covenant contained in this Section 8 shall be specifically
     enforceable against such Pledgor, and each Pledgor hereby waives and
     agrees not to assert any defenses against an action for specific
     performance of such covenants except for a defense that the Secured
     Obligations are not then due and payable in accordance with the
     agreements and instruments governing and evidencing such obligations.

          (i) Collateral Agent shall apply the proceeds of any collection or
     sale of the Collateral, as well as any Collateral consisting of cash, in
     the manner set forth in the Collateral Agency Agreement; provided,
     however, that if the Collateral Agency Agreement shall not be in effect,
     such proceeds and cash shall be applied in the manner set forth in the
     Credit Agreement.

          9. Financing Statements. No Pledgor shall terminate, amend or file a
correction statement with respect to any UCC financing statement filed
pursuant to this Agreement without Collateral Agent's prior written consent.

          10.  Waiver. No delay on Collateral Agent's part in exercising any
power of sale, Lien, option or other right hereunder, and no notice or demand
which may be given to or made upon any Pledgor by Collateral Agent with
respect to any power of sale, Lien, option or other right hereunder, shall
constitute a waiver thereof, or limit or impair Collateral Agent's right to
take any action or to exercise any power of sale, Lien, option, or any other
right hereunder, without notice or demand, or prejudice Collateral Agent's
rights as against such Pledgor in any respect.

          11. Intentionally Omitted.

          12. Termination. This Agreement and the Liens created hereby (a)
shall cease to be effective with respect to the Existing Senior Note
Obligations on the earlier of the date (i) on which all of the Existing Senior
Note Obligations shall have been paid in full, (ii) that is 10 days after the
provisions of the Existing Senior Notes Indenture that require equal and
ratable sharing shall be held by a court of competent jurisdiction to be
invalid and (iii) on the Termination Date and (b) shall cease to be effective
with respect to the Credit Agreement Obligations on the Termination Date.
Immediately following the Termination Date, Collateral Agent shall deliver to
each Pledgor the Pledged Collateral pledged by such Pledgors at the time
subject to this Agreement and all instruments of assignment executed in
connection therewith, free and clear of the Liens hereof and, except as
otherwise provided herein, all of such Pledgor's obligations hereunder shall
at such time terminate.

          13.  Lien Absolute. All rights of Collateral Agent hereunder, and all
obligations of Pledgors hereunder, shall be absolute and unconditional
irrespective of:

<PAGE>

          (a)  any lack of validity or enforceability of the Credit Agreement,
     any other Loan Document or any other agreement or instrument governing or
     evidencing any Secured Obligations;

          (b)  any change in the time, manner or place of payment of, or in any
     other term of, all or any part of the Secured Obligations, or any other
     amendment or waiver of or any consent to any departure from the Credit
     Agreement, any other Loan Document or any other agreement or instrument
     governing or evidencing any Secured Obligations;

          (c) any exchange, release or non-perfection of any other Collateral,
     or any release or amendment or waiver of or consent to departure from any
     guaranty, for all or any of the Secured Obligations;

          (d) the insolvency of any Credit Party; or

          (e) any other circumstance which might otherwise constitute a
     defense available to, or a discharge of, any Pledgor.

          14. Release. Each Pledgor consents and agrees that Collateral Agent
may at any time, or from time to time, in its discretion:

          (a) renew, extend or change the time of payment, and/or the manner,
     place or terms of payment of all or any part of the Secured Obligations;
     and

          (b) exchange, release and/or surrender all or any of the Collateral
     (including the Pledged Collateral), or any part thereof, by whomsoever
     deposited, which is now or may hereafter be held by Collateral Agent in
     connection with all or any of the Secured Obligations; all in such manner
     and upon such terms as Collateral Agent may deem proper, and without
     notice to or further assent from such Pledgor, it being hereby agreed
     that each Pledgor shall be and remain bound upon this Agreement,
     irrespective of the value or condition of any of the Collateral, and
     notwithstanding any such change, exchange, settlement, compromise,
     surrender, release, renewal or extension, and notwithstanding also that
     the Secured Obligations may, at any time, exceed the aggregate principal
     amount thereof set forth in the Credit Agreement, or any other agreement
     governing any Secured Obligations. Each Pledgor hereby waives notice of
     acceptance of this Agreement, and also presentment, demand, protest and
     notice of dishonor of any and all of the Secured Obligations, and
     promptness in commencing suit against any party hereto or liable hereon,
     and in giving any notice to or of making any claim or demand hereunder
     upon such Pledgor. No act or omission of any kind on Collateral Agent's
     part shall in any event affect or impair this Agreement.

          15. Reinstatement. This Agreement shall remain in full force and
effect and continue to be effective should any petition be filed by or against
any Pledgor or any Pledged Entity for liquidation or reorganization, should
any Pledgor or any Pledged Entity become insolvent or make an assignment for
the benefit of creditors or should a receiver, interim receiver, receiver and
manager or trustee be appointed for all or any significant part of any
Pledgor's or a Pledged Entity's assets, and shall continue to be effective or
be reinstated, as the

<PAGE>

case may be, if at any time payment and performance of the Secured
Obligations, or any part thereof, is, pursuant to applicable law, rescinded or
reduced in amount, or must otherwise be restored or returned by any obligee of
the Secured Obligations, whether as a "voidable preference", "fraudulent
conveyance", or otherwise, all as though such payment or performance had not
been made. In the event that any payment, or any part thereof, is rescinded,
reduced, restored or returned, the Secured Obligations shall be reinstated and
deemed reduced only by such amount paid and not so rescinded, reduced,
restored or returned.

          16. Miscellaneous.

          (a) Collateral Agent may execute any of its duties hereunder by or
     through agents or employees and shall be entitled to advice of counsel
     concerning all matters pertaining to its duties hereunder.

          (b) Each Pledgor agrees to promptly reimburse Collateral Agent for
     actual out-of-pocket expenses, including, without limitation, reasonable
     counsel fees, incurred by Collateral Agent in connection with the
     administration and enforcement of this Agreement.

          (c) Neither Collateral Agent, nor any of its respective officers,
     directors, employees, agents or counsel shall be liable for any action
     lawfully taken or omitted to be taken by it or them hereunder or in
     connection herewith, except for its or their own gross negligence or
     willful misconduct as finally determined by a court of competent
     jurisdiction.

          (d) THIS AGREEMENT SHALL BE BINDING UPON EACH PLEDGOR AND ITS
     RESPECTIVE SUCCESSORS AND ASSIGNS (INCLUDING A DEBTOR-IN-POSSESSION ON
     BEHALF OF SUCH PLEDGOR), AND SHALL INURE TO THE BENEFIT OF, AND BE
     ENFORCEABLE BY, COLLATERAL AGENT AND ITS SUCCESSORS AND ASSIGNS, AND
     SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE
     LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED
     IN THAT STATE, AND NONE OF THE TERMS OR PROVISIONS OF THIS AGREEMENT MAY
     BE WAIVED, ALTERED, MODIFIED OR AMENDED EXCEPT IN WRITING DULY SIGNED FOR
     AND ON BEHALF OF COLLATERAL AGENT AND PLEDGOR.

          17. Severability. If for any reason any provision or provisions
hereof are determined to be invalid and contrary to any existing or future
law, such invalidity shall not impair the operation of or effect those
portions of this Agreement which are valid.

          18. Notices. Except as otherwise provided herein, whenever it is
provided herein that any notice, demand, request, consent, approval,
declaration or other communication shall or may be given to or served upon any
of the parties by any other party, or whenever any of the parties desires to
give or serve upon any other a communication with respect to this Agreement,
each such notice, demand, request, consent, approval, declaration or other
communication shall be in writing and either shall be delivered in person or
sent by registered or

<PAGE>

certified mail, return receipt requested, with proper postage prepaid, or by
facsimile transmission and confirmed by delivery of a copy by personal
delivery or United States Mail as otherwise provided herein:

          (a) If to any Pledgor, to Blount, Inc. at its address at: 4409 S.E.
     International Way, Portland, Oregon 97222, Attention: General Counsel and
     Chief Financial Officer, or at such other address as shall be designated
     by it in a written notice to Collateral Agent.

          (b) If to Collateral Agent, to it at its address at: 1100 Abernathy
     Road, Suite 900, Atlanta, Georgia 30328, Attention: Blount, Inc. Account
     Manager, with a copy to General Electric Capital Corporation, 201 High
     Ridge Road, Stamford, Connecticut 06927, Attention: Corporate Counsel -
     Commercial Finance, with a copy to Paul, Hastings, Janofsky & Walker LLP,
     600 Peachtree Street, N.E., Suite 2400, Atlanta, GA 30308-2222,
     Attention: Jesse H. Austin III, Esq., or at such other address as shall
     be designated by it in a written notice to Blount, Inc. and the Secured
     Parties.

The giving of any notice required hereunder may be waived in writing by the
party entitled to receive such notice.  Every notice, demand, request, consent,
approval, declaration or other communication hereunder shall be deemed to have
been duly served, given or delivered (a) upon the earlier of actual receipt and
three (3) Business Days after deposit in the United States Mail, registered or
certified mail, return receipt requested, with proper postage prepaid, (b) upon
transmission, when sent by telecopy or other similar facsimile transmission
(with such telecopy or facsimile promptly confirmed by delivery of a copy by
personal delivery or United States Mail as otherwise provided in this Section
18, (c) one (1) Business Day after deposit with a reputable overnight courier
with all charges prepaid, or (d) when delivered, if hand-delivered by
messenger.  Failure or delay in delivering copies of any notice, demand,
request, consent, approval, declaration or other communication to the persons
designated above to receive copies shall in no way adversely affect the
effectiveness of such notice, demand, request, consent, approval, declaration
or other communication.

          19. Section Titles. The Section titles contained in this Agreement
are and shall be without substantive meaning or content of any kind whatsoever
and are not a part of the agreement between the parties hereto.

          20. Counterparts. This Agreement may be executed in any number of
counterparts, which shall, collectively and separately, constitute one
agreement. This Agreement may be authenticated by manual signature, facsimile
or, if approved in writing by Agent, electronic means, all of which shall be
equally valid.

          21. Benefit of Secured Parties. All security interests granted or
contemplated hereby shall be for the benefit of Collateral Agent and its
successors and assigns and Secured Parties, and all proceeds or payments
realized from the Pledged Collateral in accordance herewith shall be applied
to the Secured Obligations as set forth in Section 8(i) of this Agreement.

<PAGE>

          22. Additional Pledgors. Pursuant to Section 5.13 of the Credit
Agreement, the Credit Parties may create wholly owned direct or indirect
Subsidiaries after the Closing Date (as defined in the Credit Agreement) so
long as at the time of the formation of any such direct or indirect Subsidiary
of any Credit Party, Credit Parties, or any of them, as appropriate, shall
cause such new United States domestic Subsidiary, to enter into this Agreement
by executing and delivering in favor of Collateral Agent an instrument in the
form of Annex 1 attached hereto. Upon the execution and delivery of Annex 1 by
such new United States domestic Subsidiary, such domestic Subsidiary shall
become a Pledgor hereunder with the same force and effect as if originally
named as a Pledgor herein. The execution and delivery of any instrument adding
an additional Pledgor as a party to this Agreement shall not require the
consent of any Pledgor hereunder. The rights and obligations of each Pledgor
hereunder shall remain in full force and effect notwithstanding the addition
of any new Pledgor hereunder.

                           [signature page follows]

<PAGE>

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

PLEDGORS:                    BLOUNT INTERNATIONAL, INC.

                             By:
                                  -----------------------------------
                             Name:
                                   ----------------------------------
                             Title:
                                   ----------------------------------

                             BLOUNT, INC.

                             By:
                                  -----------------------------------
                             Name:
                                   ----------------------------------
                             Title:
                                   ----------------------------------

                             FABTEK CORPORATION

                             By:
                                  -----------------------------------
                             Name:
                                   ----------------------------------
                             Title:
                                   ----------------------------------

                             GEAR PRODUCTS, INC.

                             By:
                                  -----------------------------------
                             Name:
                                   ----------------------------------
                             Title:
                                   ----------------------------------

                             DIXON INDUSTRIES, INC.

                             By:
                                  -----------------------------------
                             Name:
                                   ----------------------------------
                             Title:
                                   ----------------------------------

                             FREDERICK MANUFACTURING CORPORATION

                             By:
                                  -----------------------------------
                             Name:
                                   ----------------------------------
                             Title:
                                   ----------------------------------

<PAGE>

                             WINDSOR FORESTRY TOOLS LLC
                             By: Blount, Inc., its sole member

                             By:
                                  -----------------------------------
                             Name:
                                   ----------------------------------
                             Title:
                                   ----------------------------------

                             4520 CORP., INC.

                             By:
                                  -----------------------------------
                             Name:
                                   ----------------------------------
                             Title:
                                   ----------------------------------

                             OMARK PROPERTIES, INC.

                             By:
                                  -----------------------------------
                             Name:
                                   ----------------------------------
                             Title:
                                   ----------------------------------

                             BI, L.L.C.
                             By: Blount, Inc., its managing member

                             By:
                                  -----------------------------------
                             Name:
                                   ----------------------------------
                             Title:
                                   ----------------------------------

COLLATERAL AGENT:            GENERAL ELECTRIC CAPITAL
                             CORPORATION

                             By:
                                  -----------------------------------
                             Name:
                                   ----------------------------------
                                   Its Duly Authorized Signatory

<PAGE>

                                    ANNEX 1

                 FORM OF SUPPLEMENT TO SHARED PLEDGE AGREEMENT

     Supplement No. (this "Supplement") dated as of __________, 20__ the
Shared Pledge Agreement dated as of May 15, 2003 (as amended, restated,
supplemented or otherwise modified from time to time, the "Shared Pledge
Agreement") by and among BLOUNT INTERNATIONAL, INC., a Delaware corporation
("Holdings"), BLOUNT, INC., a Delaware corporation ("Blount, Inc."), each of
the Subsidiaries of Blount, Inc. signatory thereto and those additional
entities that thereafter become parties thereto (Holdings, Blount, Inc., each
such Subsidiary, collectively, "Pledgors" and individually, a "Pledgor"), and
GENERAL ELECTRIC CAPITAL CORPORATION, as collateral agent (in such capacity,
"Collateral Agent") for the holders from time to time of the Secured
Obligations (as defined below).

                                  WITNESSETH:

     WHEREAS, pursuant to that certain Credit Agreement dated as of May 15,
2003 by and among Blount, Inc., a Delaware corporation, the other Credit
Parties (as defined in the Credit Agreement) signatory thereto, Agent,
Canadian Agent and the other Persons signatory thereto from time to time as
lenders ("Lenders") (including all annexes, exhibits and schedules thereto, as
from time to time amended, restated, supplemented or otherwise modified, the
"Credit Agreement"), US Lenders have agreed to make the Loans (as defined in
the Credit Agreement) to, and to incur Letter of Credit Obligations (as
defined in the Credit Agreement) on behalf of US Borrowers (as defined in the
Credit Agreement), and Canadian Lenders have agreed to make Loans to Canadian
Borrowers;

     WHEREAS, capitalized terms used herein and not otherwise defined herein
shall have the meanings assigned to such terms in the Shared Pledge Agreement;
and

     WHEREAS, in order to induce Agent and Lenders to make the Loans and to
incur the Letter of Credit Obligations as provided for in the Credit
Agreement, each Pledgor has agreed to pledge the Pledged Collateral to Agent
in accordance herewith;

     WHEREAS, pursuant to provisions of Section 5.13 of the Credit Agreement,
Credit Parties may create new wholly owned direct or indirect Subsidiaries
after the Closing Date so long as at the time of the formation of any such
direct or indirect Subsidiary of any Credit Party, Credit Parties, or any of
them, as appropriate, shall cause such new United States domestic Subsidiary
to provide to Collateral Agent a supplement to the Shared Pledge Agreement,
and such other security documents reasonably requested by Collateral Agent in
its discretion and the execution of the Shared Pledge Agreement by the
undersigned new Pledgor or Pledgors (collectively, "New Pledgors") may be
accomplished by the execution of this Supplement in favor of Collateral Agent;

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

<PAGE>

     1. In accordance with Section 22 of the Shared Pledge Agreement, New
Pledgor, by its signature below, becomes a "Pledgor" under the Shared Pledge
Agreement with the same force and effect as if originally named therein as a
"Pledgor" and New Pledgor hereby (a) agrees to all of the terms and provisions
of the Shared Pledge Agreement applicable to it as a "Pledgor" thereunder and
(b) represents and warrants that the representations and warranties made by it
as a "Pledgor" thereunder are true and correct on and as of the date hereof.
In furtherance of the foregoing, New Pledgor, as security for, the prompt
payment in full when due, whether at stated maturity, by acceleration or
otherwise, and performance of all Secured Obligations (as defined in the
Shared Pledge Agreement), does hereby pledge to Collateral Agent, for itself
and the benefit of Secured Parties, a first priority security interest in all
the shares of Stock (hereafter collectively referred to as "Pledged Shares"),
of any Subsidiary or any now existing or hereafter arising indebtedness for
money borrowed (hereafter collectively referred to as "Pledged Indebtedness")
of New Pledgor listed on Exhibit A attached hereto and any Pledged Shares of
any Subsidiary or any Pledged Indebtedness of the New Pledgor obtained in the
future and, if applicable, the certificates representing all such Pledged
Shares (together with undated powers endorsed in blank). Exhibit A attached
hereto supplements Part A and Part B of Schedule I to the Shared Pledge
Agreement and shall be deemed a part thereof for all purposes of the Shared
Pledge Agreement. Each reference to a "Pledgor" in the Shared Pledge Agreement
shall be deemed to include the New Pledgor. The Shared Pledge Agreement is
incorporated herein by reference.

     2. New Pledgor represents and warrants to the Collateral Agent and to
Secured Parties that this Supplement has been duly executed and delivered by
New Pledgor and constitutes its legal, valid and binding obligation,
enforceable against it in accordance with its terms.

     3. This Supplement may be executed in any number of counterparts, each of
which shall collectively and separately constitute one and the same agreement.
This Supplement may be authenticated by manual signature, facsimile or, if
approved in writing by Collateral Agent, electronic means, all of which shall
be equally valid.

     4. Except as expressly supplemented hereby, the Shared Pledge Agreement
shall remain in full force and effect.

     5. THIS AGREEMENT SHALL BE BINDING UPON EACH PLEDGOR AND ITS RESPECTIVE
SUCCESSORS AND ASSIGNS (INCLUDING A DEBTOR-IN-POSSESSION ON BEHALF OF SUCH
PLEDGOR), AND SHALL INURE TO THE BENEFIT OF, AND BE ENFORCEABLE BY, COLLATERAL
AGENT AND ITS SUCCESSORS AND ASSIGNS, AND SHALL BE GOVERNED BY, AND CONSTRUED
AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE
TO CONTRACTS MADE AND PERFORMED IN THAT STATE, AND NONE OF THE TERMS OR
PROVISIONS OF THIS AGREEMENT MAY BE WAIVED, ALTERED, MODIFIED OR AMENDED
EXCEPT IN WRITING DULY SIGNED FOR AND ON BEHALF OF COLLATERAL AGENT AND
PLEDGOR.

               [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

<PAGE>

     IN WITNESS WHEREOF, New Pledgor and Collateral Agent have duly executed
this Supplement to the Shared Pledge Agreement as of the day and year first
above written.

NEW PLEDGOR:                    [Name of New Pledgor]

                                By:___________________________
Address:____________________    Name:_________________________
        ____________________    Title:________________________
        ____________________

COLLATERAL  AGENT:              GENERAL ELECTRIC CAPITAL
                                CORPORATION

                                By:__________________________
                                Name:________________________
                                Title: Duly Authorized Signatory

<PAGE>

                                   EXHIBIT A

                             PLEDGED SUBSIDIARIES

<TABLE>
<CAPTION>

                                                                                               Percentage of
                                               Class             Certificate    Number of      Outstanding
Pledgor                  Pledged Entity        of Stock          Number(s)      Shares         Shares/Units
<S>                      <C>                   <C>               <C>            <C>            <C>

                                               Initial
                                               Principal
Pledgor                  Pledged Entity        Amount            Issue Date     Maturity Date  Interest Rate

</TABLE>Exhibit 4(d)

                                  US GUARANTY

          This US GUARANTY (this "US Guaranty"), dated as of May 15, 2003, by
and among the Guarantors listed on the signature pages hereof and those
additional entities that hereafter become parties hereto by executing the form
of Supplement attached hereto as Annex 1, as guarantors (each, a "Guarantor"
and collectively, "Guarantors"), and GENERAL ELECTRIC CAPITAL CORPORATION, a
Delaware corporation, individually and as agent (in such capacity, "Agent")
for itself, General Electric Capital Canada Inc., as Canadian agent ("Canadian
Agent") and the lenders from time to time signatory to the Credit Agreement
hereinafter defined.

                             W I T N E S S E T H:

          WHEREAS, pursuant to that certain Credit Agreement dated as of the
date hereof by and among Blount, Inc., a Delaware corporation, the other
Credit Parties (as defined in the Credit Agreement) signatory thereto, Agent,
Canadian Agent and the other Persons signatory thereto from time to time as
lenders ("Lenders") (as from time to time amended, restated, supplemented or
otherwise modified, the "Credit Agreement") US Lenders (as defined in the
Credit Agreement) have agreed to make Loans (as defined in the Credit
Agreement) to, and to incur Letter of Credit Obligations (as defined in the
Credit Agreement) on behalf of US Borrowers (as defined in the Credit
Agreement), and Canadian Lenders (as defined in the Credit Agreement) have
agreed to make Loans to Canadian Borrowers (as defined in the Credit
Agreement);

          WHEREAS, each Guarantor, other than Holdings (as defined in the
Credit Agreement), is either a US Borrower or a direct or indirect Subsidiary
of a US Borrower and Holdings is the direct or indirect parent of each US
Borrower and as such each Guarantor will derive direct and indirect economic
benefits from the making of the Loans and other financial accommodations
provided to Borrowers pursuant to the Credit Agreement; and

          WHEREAS, in order to induce Agent, Canadian Agent and Lenders to
enter into the Credit Agreement and other Loan Documents and to induce Lenders
to make the Loans and to incur Letter of Credit Obligations as provided for in
the Credit Agreement, Guarantors have agreed to guarantee payment of the
Obligations;

          NOW, THEREFORE, in consideration of the premises and the covenants
hereinafter contained, and to induce Lenders to provide the Loans and other
financial accommodations under the Credit Agreement, it is agreed as follows:

1. DEFINITIONS.

          Capitalized terms used herein shall have the meanings assigned to
them in the Credit Agreement, unless otherwise defined herein.

<PAGE>

          References to this "US Guaranty" shall mean this US Guaranty,
including all amendments, modifications and supplements and any annexes,
exhibits and schedules to any of the foregoing, and shall refer to this US
Guaranty as the same may be in effect at the time such reference becomes
operative.

2. THE GUARANTY.

          2.1. Guaranty of Guaranteed Obligations of Borrowers. (i) Each
Guarantor hereby jointly and severally unconditionally guarantees to Agent,
Canadian Agent and Lenders, and their respective successors, endorsees,
transferees and assigns, the prompt payment (whether at stated maturity, by
acceleration or otherwise) and performance of the Canadian Obligations of
Canadian Borrowers, and (ii) each Guarantor that is not an US Borrower hereby
jointly and severally unconditionally guarantees to Agent and Lenders, and
their respective successors, endorsees, transferees and assigns, the prompt
payment (whether at stated maturity, by acceleration or otherwise) and
performance of the US Obligations of US Borrowers ((i) and (ii) hereinafter,
collectively, the "Guaranteed Obligations"). Each US Borrower is jointly and
severally liable for, and unconditionally guarantees all of the US Obligations
owed to Agent and US Lenders by each other US Borrower pursuant to the terms
of the Credit Agreement. Guarantors agree that this US Guaranty is a guaranty
of payment and performance and not of collection, and that their obligations
under this US Guaranty shall be primary, absolute and unconditional,
irrespective of, and unaffected by:

          (a) the genuineness, validity, regularity, enforceability or any
     future amendment of, or change in this US Guaranty, any other Loan
     Document or any other agreement, document or instrument to which any
     Credit Party and/or Guarantors are or may become a party;

          (b) the absence of any action to enforce this US Guaranty or any
     other Loan Document or the waiver or consent by Agent, Canadian Agent
     and/or Lenders with respect to any of the provisions thereof;

          (c) the existence, value or condition of, or failure to perfect its
     Lien against, any Collateral for the Guaranteed Obligations or any
     action, or the absence of any action, by Agent in respect thereof
     (including, without limitation, the release of any such security); or

          (d) the insolvency of any Credit Party; or

          (e) any other action or circumstances which might otherwise
     constitute a legal or equitable discharge or defense of a surety or
     guarantor,

it being agreed by each Guarantor that its obligations under this US Guaranty
shall not be discharged until the Termination Date.  Each Guarantor shall be
regarded, and shall be in the same position, as principal debtor with respect
to the Guaranteed Obligations.  Each

<PAGE>

Guarantor agrees that any notice or directive given at any time to Agent which
is inconsistent with the waiver in the immediately preceding sentence shall be
null and void and may be ignored by Agent, Canadian Agent and Lenders, and, in
addition, may not be pleaded or introduced as evidence in any litigation
relating to this US Guaranty for the reason that such pleading or introduction
would be at variance with the written terms of this US Guaranty, unless Agent,
Canadian Agent and Lenders have specifically agreed otherwise in writing. It
is agreed among each Guarantor, Agent, Canadian Agent and Lenders that the
foregoing waivers are of the essence of the transaction contemplated by the
Loan Documents and that, but for this US Guaranty and such waivers, Agent,
Canadian Agent and Lenders would decline to enter into the Credit Agreement.

          2.2. Demand by Agent, Canadian Agent or Lenders. In addition to the
terms of the Guaranty set forth in Section 2.1 hereof, and in no manner
imposing any limitation on such terms, it is expressly understood and agreed
that, if, at any time, the outstanding principal amount of the Guaranteed
Obligations under the Credit Agreement (including all accrued interest
thereon) is declared to be immediately due and payable, then Guarantors shall,
without demand, pay to the holders of the Guaranteed Obligations the entire
outstanding Guaranteed Obligations due and owing to such holders. Payment by
Guarantors shall be made to Agent in immediately available Federal funds to an
account designated by Agent or at the address set forth herein for the giving
of notice to Agent or at any other address that may be specified in writing
from time to time by Agent, and shall be credited and applied to the
Guaranteed Obligations.

          2.3. Enforcement of Guaranty. In no event shall Agent have any
obligation (although it is entitled, at its option) to proceed against any
Borrower or any other Credit Party or any Collateral pledged to secure
Guaranteed Obligations before seeking satisfaction from any or all of the
Guarantors, and Agent may proceed, prior or subsequent to, or simultaneously
with, the enforcement of Agent's rights hereunder, to exercise any right or
remedy which it may have against any Collateral, as a result of any Lien it
may have as security for all or any portion of the Guaranteed Obligations.

          2.4. Waiver. In addition to the waivers contained in Section 2.1
hereof, Guarantors waive, and agree that they shall not at any time insist
upon, plead or in any manner whatever claim or take the benefit or advantage
of, any appraisal, valuation, stay, extension, marshaling of assets or
redemption laws, or exemption, whether now or at any time hereafter in force,
which may delay, prevent or otherwise affect the performance by Guarantors of
their Guaranteed Obligations under, or the enforcement by Agent, Canadian
Agent or Lenders of, this US Guaranty. Guarantors hereby waive diligence,
presentment and demand (whether for non-payment or protest or of acceptance,
maturity, extension of time, change in nature or form of the Guaranteed
Obligations, acceptance of further security, release of further security,
composition or agreement arrived at as to the amount of, or the terms of, the
Guaranteed Obligations, notice of adverse change in any Borrower's financial
condition or any other fact which might increase the risk to Guarantors) with
respect to any of the Guaranteed Obligations or all other demands

<PAGE>

whatsoever and waive the benefit of all provisions of law which are or might
be in conflict with the terms of this US Guaranty. Guarantors represent,
warrant and jointly and severally agree that, as of the date of this US
Guaranty, their obligations under this US Guaranty are not subject to any
offsets or defenses against Agent, Canadian Agent or Lenders or any Credit
Party of any kind. Guarantors further jointly and severally agree that their
obligations under this US Guaranty shall not be subject to any counterclaims,
offsets or defenses against Agent, Canadian Agent or any Lender or against any
Credit Party of any kind which may arise in the future.

          2.5. Benefit of Guaranty. The provisions of this US Guaranty are for
the benefit of Agent, Canadian Agent and Lenders and their respective
successors, transferees, endorsees and assigns, and nothing herein contained
shall impair, as between any Credit Party and Agent, Canadian Agent or
Lenders, the obligations of any Credit Party under the Loan Documents. In the
event all or any part of the Guaranteed Obligations are transferred, endorsed
or assigned by Agent or any Lender to any Person or Persons, any reference to
"Agent" or "Lender" herein shall be deemed to refer equally to such Person or
Persons.

          2.6. Modification of Guaranteed Obligations, Etc. Each Guarantor
hereby acknowledges and agrees that Agent, Canadian Agent and Lenders may at
any time or from time to time, with or without the consent of, or notice to,
Guarantors or any of them:

          (a) change or extend the manner, place or terms of payment of, or
     renew or alter all or any portion of, the Guaranteed Obligations;

          (b) take any action under or in respect of the Loan Documents in the
     exercise of any remedy, power or privilege contained therein or available
     to it at law, equity or otherwise, or waive or refrain from exercising
     any such remedies, powers or privileges;

          (c) amend or modify, in any manner whatsoever, the Loan Documents;

          (d) extend or waive the time for any Credit Party's performance of,
     or compliance with, any term, covenant or agreement on its part to be
     performed or observed under the Loan Documents, or waive such performance
     or compliance or consent to a failure of, or departure from, such
     performance or compliance;

          (e) take and hold Collateral for the payment of the Guaranteed
     Obligations guaranteed hereby or sell, exchange, release, dispose of, or
     otherwise deal with, any property pledged, mortgaged or conveyed, or in
     which Agent, Canadian Agent or Lenders have been granted a Lien, to
     secure any Obligations;

<PAGE>

          (f) release anyone who may be liable in any manner for the payment
     of any Obligations or Guaranteed Obligations;

          (g) modify or terminate the terms of any intercreditor or
     subordination agreement pursuant to which claims of other creditors of
     any Guarantor or any Credit Party are subordinated to the claims of
     Agent, Canadian Agent and Lenders; and/or

          (h) apply any sums by whomever paid or however realized to any
     amounts owing by any Guarantor or any Credit Party to Agent, Canadian
     Agent or any Lender in such manner as Agent, Canadian Agent or any Lender
     shall determine in its discretion;

and Agent, Canadian Agent and Lenders shall not incur any liability to
Guarantors as a result thereof, and no such action shall impair or release the
Guaranteed Obligations of Guarantors or any of them under this US Guaranty.
Notwithstanding anything contained in this US Guaranty to the contrary, nothing
contained in this US Guaranty constitutes a waiver or modification of any
rights a Guarantor who is also a US Borrower under the Credit Agreement may
have in its capacity as a US Borrower under the Credit Agreement.

          2.7. Reinstatement. This US Guaranty shall remain in full force and
effect and continue to be effective should any petition be filed by or against
any Credit Party or any Guarantor for liquidation or reorganization, should
any Credit Party or any Guarantor become insolvent or make an assignment for
the benefit of creditors or should a receiver, interim receiver, receiver and
manager or trustee be appointed for all or any significant part of such Credit
Party's or such Guarantor's assets, and shall continue to be effective or be
reinstated, as the case may be, if at any time payment and performance of the
Guaranteed Obligations, or any part thereof, is, pursuant to applicable law,
rescinded or reduced in amount, or must otherwise be restored or returned by
any obligee of the Guaranteed Obligations, whether as a "voidable preference",
"fraudulent conveyance", or otherwise, all as though such payment or
performance had not been made. In the event that any payment, or any part
thereof, is rescinded, reduced, restored or returned, the Guaranteed
Obligations shall be reinstated and deemed reduced only by such amount paid
and not so rescinded, reduced, restored or returned.

          2.8. Deferral of Subrogation, Etc. Notwithstanding anything to the
contrary in this US Guaranty, or in any other Loan Document, each Guarantor
hereby:

          (a) expressly and irrevocably waives, on behalf of itself and its
     successors and assigns (including any surety) until payment and
     performance, in full, of the Guaranteed Obligations has occurred, any and
     all rights at law or in equity to subrogation, to reimbursement, to
     exoneration, to contribution, to indemnification, to set off or to any
     other rights that could accrue to a surety against a principal, to a
     guarantor against a principal, to a guarantor against a

<PAGE>

     maker or obligor, to an accommodation party against the party
     accommodated, to a holder or transferee against a maker, or to the holder
     of any claim against any Person, and which such Guarantor may have or
     hereafter acquire against any Credit Party in connection with or as a
     result of such Guarantor's execution, delivery and/or performance of this
     US Guaranty, or any other documents to which such Guarantor is a party or
     otherwise; and

          (b) acknowledges and agrees (i) that this waiver is intended to
     benefit Agent, Canadian Agent and Lenders and shall not limit or
     otherwise effect any Guarantor's liability hereunder or the
     enforceability of this US Guaranty, and (ii) that Agent, Lenders and
     their respective successors and assigns are intended third party
     beneficiaries of the waivers and agreements set forth in this Section 2.8
     and their rights under this Section 2.8 shall survive payment in full of
     the Guaranteed Obligations.

          2.9. Election of Remedies. If Agent, Canadian Agent or any Lender
may, under applicable law, proceed to realize benefits under any of the Loan
Documents giving Agent, Canadian Agent and Lenders a Lien upon any Collateral
owned by any Credit Party, either by judicial foreclosure or by non- judicial
sale or enforcement, Agent, Canadian Agent or any Lender may, at its sole
option, determine which of such remedies or rights it may pursue without
affecting any of such rights and remedies under this US Guaranty. If, in the
exercise of any of its rights and remedies, Agent, Canadian Agent or any
Lender shall forfeit any of its rights or remedies, including its right to
enter a deficiency judgment against any Credit Party, whether because of any
applicable laws pertaining to "election of remedies" or the like, Guarantors
hereby consent to such action by Agent, Canadian Agent or any Lender and waive
any claim based upon such action, even if such action by Agent, Canadian Agent
or any Lender shall result in a full or partial loss of any rights of
subrogation which Guarantors might otherwise have had but for such action by
Agent, Canadian Agent or such Lender. Any election of remedies which results
in the denial or impairment of the right of Agent, Canadian Agent or any
Lender to seek a deficiency judgment against any Credit Party shall not impair
each Guarantor's obligation to pay the full amount of the Guaranteed
Obligations. In the event Agent, Canadian Agent or any Lender shall bid at any
foreclosure or trustee's sale or at any private sale permitted by law or the
Loan Documents, Agent, Canadian Agent or such Lender may bid all or less than
the amount of the Guaranteed Obligations and the amount of such bid need not
be paid by Agent, Canadian Agent or such Lender but shall be credited against
the Guaranteed Obligations. The amount of the successful bid at any such sale
shall be conclusively deemed to be the fair market value of the collateral and
the difference between such bid amount and the remaining balance of the
Guaranteed Obligations shall be conclusively deemed to be the amount of the
Guaranteed Obligations guaranteed under this US Guaranty, notwithstanding that
any present or future law or court decision or ruling may have the effect of
reducing the amount of any deficiency claim to which Agent, Canadian Agent or
any Lender might otherwise be entitled but for such bidding at any such sale.

<PAGE>

          2.10. Funds Transfers. If any Guarantor shall engage in any
transaction as a result of which any Borrower is required to make a mandatory
prepayment with respect to the Guaranteed Obligations under the terms of the
Credit Agreement (including any issuance or sale of such Guarantor's Stock or
any sale of its assets), such Guarantor shall distribute to, or make a
contribution to the capital of, one or more of the Borrowers an amount equal
to the mandatory prepayment required under the terms of the Credit Agreement.

3. DELIVERIES.

          In a form satisfactory to Agent, Guarantors shall deliver to Agent
(with sufficient copies for each Lender), concurrently with the execution of
this US Guaranty and the Credit Agreement, the Loan Documents and other
instruments, certificates and documents as are required to be delivered by
Guarantors to Agent under the Credit Agreement.

4. REPRESENTATIONS AND WARRANTIES.

          To induce Lenders to make the Loans and incur Letter of Credit
Obligations under the Credit Agreement, Guarantors jointly and severally make
the representations and warranties as to each Credit Party contained in the
Credit Agreement, each of which is incorporated herein by reference, and the
following representations and warranties to Agent, Canadian Agent and each
Lender, each and all of which shall survive the execution and delivery of this
US Guaranty:

          4.1. Corporate Existence; Compliance with Law. Each Guarantor (i) is
a corporation or a limited liability company duly organized, validly existing
and in good standing under the laws of its jurisdiction of incorporation or
organization, as applicable; (ii) is duly qualified to do business and is in
good standing under the laws of each jurisdiction where its ownership or lease
of property or the conduct of its business requires such qualification, except
where the failure to be so qualified would not result in exposure to losses,
damages or liabilities which could, in the aggregate, reasonably be expected
to result in a Material Adverse Effect; (iii) has the requisite power and
authority and the legal right to own and operate in all material respects its
properties, to lease the property it operates under lease, and to conduct its
business in all material aspects as now, heretofore and proposed to be
conducted and has the requisite power and authority and the legal right to
pledge, mortgage, hypothecate or otherwise encumber the Collateral; (iv)
subject to specific representations regarding Environmental Laws, has all
material licenses, permits, consents or approvals from or by, and has made all
material filings with, and has given all material notices to, all Governmental
Authorities having jurisdiction, to the extent required for such ownership,
operation and conduct; (v) is in compliance with its charter, constating
documents and bylaws or partnership or operating agreement, as applicable; and
(vi) subject to specific representations set forth in the Credit Agreement
regarding ERISA, Environmental Laws, Tax and other laws, is in compliance with
all applicable provisions of law, except where the failure to comply,

<PAGE>

individually or in the aggregate, could not reasonably be expected to have a
Material Adverse Effect.

          4.2. Executive Offices. As of the Closing Date, the current location
of each Guarantor's chief executive office and principal place of business are
as set forth in Disclosure Schedule (3.2) of the Credit Agreement, and, except
as disclosed on such schedule, none of such locations has changed within the
12 months preceding the Closing Date.

          4.3. Corporate Power; Authorization; Enforceable Guaranteed
Obligations. The execution, delivery and performance of this US Guaranty and
all other Loan Documents and all instruments and documents to be delivered by
each Guarantor hereunder and under the Credit Agreement (i) are within such
Guarantor's power; (ii) have been duly authorized by all necessary or proper
corporate or limited liability company action, including the consent of
stockholders or members where required; (iii) are not in contravention of any
provision of such Guarantor's charter, constating documents, bylaws, or
operating agreement, as applicable; (iv) do not violate any law or regulation,
or any order or decree of any Governmental Authority (v) after giving effect
to the repayment of the Prior Lender Obligations, do not conflict with or
result in the breach of, or constitute a default under, or accelerate or
permit the acceleration of any performance required by, any indenture,
mortgage, deed of trust, lease, agreement or other instrument to which any
Guarantor is a party or by which any Guarantor or any of its property is
bound; (vi) do not result in the creation or imposition of any Lien upon any
of the property of any Guarantor, other than those in favor of Agent, for
itself, Canadian Agent and the benefit of Lenders; and the same (vii) do not
require the consent or approval of any Governmental Authority or any other
Person except those which have been duly obtained, made or complied with prior
to the Closing Date pursuant to Section 2.1(c) of the Credit Agreement. On or
prior to the Closing Date, this US Guaranty and each of the Loan Documents to
which any Guarantor is a party shall have been duly executed and delivered for
the benefit of or on behalf of such Guarantor, and each shall then constitute
a legal, valid and binding obligation of such Guarantor, enforceable against
such Guarantor in accordance with its terms.

5. FURTHER ASSURANCES.

          Each Guarantor agrees, upon the written request of Agent, Canadian
Agent or any Lender, to execute and deliver to Agent, Canadian Agent or such
Lender, from time to time, any additional instruments or documents reasonably
considered necessary by Agent, Canadian Agent or such Lender to cause this US
Guaranty to be, become or remain valid and effective in accordance with its
terms.

6. PAYMENTS FREE AND CLEAR OF TAXES.

          All payments required to be made by each Guarantor hereunder shall
be made to Agent, Canadian Agent and Lenders free and clear of, and without
deduction for,

<PAGE>

any and all present and future Taxes. If any Guarantor shall be required by
law to deduct any Taxes from or in respect of any sum payable hereunder, (a)
the sum payable shall be increased as much as shall be necessary so that after
making all required deductions (including deductions applicable to additional
sums payable under this Section 6) Agent, Canadian Agent or Lenders, as
applicable, receive an amount equal to the sum they would have received had no
such deductions been made, (b) such Guarantor shall make such deductions, and
(c) such Guarantor shall pay the full amount deducted to the relevant taxing
or other authority in accordance with applicable law. Within thirty (30) days
after the date of any payment of Taxes, each applicable Guarantor shall
furnish to Agent the original or a certified copy of a receipt evidencing
payment thereof. Each Guarantor shall jointly and severally indemnify and,
within ten (10) days of demand therefor, pay Agent, Canadian Agent and each
Lender for the full amount of Taxes paid by Agent, Canadian Agent or such
Lender, as appropriate, on or with respect to any payment by or an account of
any obligations of Guarantors hereunder (including any Taxes imposed by any
jurisdiction on amounts payable under this Section 6) and any liability
(including penalties, interest and expenses) arising therefrom or with respect
thereto, whether or not such Taxes were correctly or legally asserted.

7. OTHER TERMS.

          7.1. Entire Agreement. This US Guaranty, together with the other
Loan Documents, constitutes the entire agreement between the parties with
respect to the subject matter hereof and supersedes all prior agreements
relating to a guaranty of the loans and advances under the Loan Documents
and/or the Guaranteed Obligations.

          7.2. Headings. The headings in this US Guaranty are for convenience
of reference only and are not part of the substance of this US Guaranty.

          7.3. Severability. Whenever possible, each provision of this US
Guaranty shall be interpreted in such a manner to be effective and valid under
applicable law, but if any provision of this US Guaranty shall be prohibited
by or invalid under applicable law, such provision shall be ineffective to the
extent of such prohibition or invalidity, without invalidating the remainder
of such provision or the remaining provisions of this US Guaranty.

          7.4. Notices. Whenever it is provided herein that any notice,
demand, request, consent, approval, declaration or other communication shall
or may be given to or served upon any of the parties by any other party, or
whenever any of the parties desires to give or serve upon another any such
communication with respect to this US Guaranty, each such notice, demand,
request, consent, approval, declaration or other communication shall be in
writing and shall be addressed to the party to be notified as follows:

              (a) If to Agent or Canadian Agent at:

<PAGE>

               General Electric Capital Corporation
               (or, as applicable, c/o General Electrical Capital
               Corporation)
               1100 Abernathy Road, Suite 900
               Atlanta, Georgia 30328
               Attention: Blount, Inc. Account Manager
               Telecopy Number: (678) 320-8902
               Telephone Number: (678) 320-8900

               with copies to:

               General Electric Capital Corporation
               201 High Ridge Road
               Stamford, Connecticut 06927-5100
               Attention:  Corporate Counsel - Commercial Finance
               Telecopier No.: (203) 316-7889
               Telephone No.:  (203) 316-7552

               and

               Paul, Hastings, Janofsky & Walker LLP
               600 Peachtree Street, N.E.
               Suite 2400
               Atlanta, Georgia 30308
               Attention:  Jesse H. Austin, III, Esq.
               Telecopier No.:  (404) 815-2424
               Telephone No.:  (404) 815-2208

          (b) If to any Lender, at the address of such Lender specified in the
     Credit Agreement.

          (c) If to any Guarantor, at the address of such Guarantor specified
     on Schedule I hereto.

or at such other address as may be substituted by notice given as herein
provided.  The giving of any notice required hereunder may be waived in writing
by the party entitled to receive such notice.  Every notice, demand, request,
consent, approval, declaration or other communication hereunder shall be deemed
to have been validly served, given or delivered (i) upon the earlier of actual
receipt and three (3) Business Days after the same shall have been deposited
with the United States mail, registered or certified mail, return receipt
requested, with proper postage prepaid, (ii) upon transmission, when sent by
telecopy or other similar facsimile transmission (with such telecopy or
facsimile promptly confirmed by delivery of a copy by personal delivery or
United States mail as otherwise provided in this Section 7.4), (iii) one (1)
Business Day after deposit with a reputable overnight carrier with all charges
prepaid, or (iv) when delivered, if hand-

<PAGE>

delivered by messenger.

          7.5. Successors and Assigns. This US Guaranty and all obligations of
Guarantors hereunder shall be binding upon the successors and assigns of each
Guarantor (including a debtor-in-possession on behalf of such Guarantor) and
shall, together with the rights and remedies of Agent, for the benefit of
itself, Canadian Agent and Lenders, hereunder, inure to the benefit of Agent,
Canadian Agent and Lenders, all future holders of any instrument evidencing
any of the Obligations and their respective successors and assigns. No sales
of participations, other sales, assignments, transfers or other dispositions
of any agreement governing or instrument evidencing the Obligations or any
portion thereof or interest therein shall in any manner affect the rights of
Agent, Canadian Agent and Lenders hereunder. Guarantors may not assign, sell,
hypothecate or otherwise transfer any interest in or obligation under this US
Guaranty.

          7.6. No Waiver; Cumulative Remedies; Amendments. None of Agent,
Canadian Agent or any Lender shall by any act, delay, omission or otherwise be
deemed to have waived any of its rights or remedies hereunder, and no waiver
shall be valid unless in writing, signed by Agent and then only to the extent
therein set forth. A waiver by Agent, for itself, Canadian Agent and Lenders,
of any right or remedy hereunder on any one occasion shall not be construed as
a bar to any right or remedy which Agent would otherwise have had on any
future occasion. No failure to exercise nor any delay in exercising on the
part of Agent, Canadian Agent or any Lender, any right, power or privilege
hereunder, shall operate as a waiver thereof, nor shall any single or partial
exercise of any right, power or privilege hereunder preclude any other or
future exercise thereof or the exercise of any other right, power or
privilege. The rights and remedies hereunder provided are cumulative and may
be exercised singly or concurrently, and are not exclusive of any rights and
remedies provided by law. None of the terms or provisions of this US Guaranty
may be waived, altered, modified, supplemented or amended except by an
instrument in writing, duly executed by Agent and Guarantors.

          7.7. Termination. This US Guaranty is a continuing guaranty and
shall remain in full force and effect until the Termination Date. Upon payment
and performance in full of the Guaranteed Obligations, Agent shall deliver to
Guarantors such documents as Guarantors may reasonably request to evidence
such termination.

          7.8. Counterparts. This US Guaranty may be executed in any number of
counterparts, each of which shall collectively and separately constitute one
and the same agreement. This US Guaranty may be authenticated by manual
signature, facsimile or, if approved in writing by Agent, electronic means,
all of which shall be equally valid.

          7.9. Intentionally Omitted.

          7.10. Intentionally Omitted.

<PAGE>

          7.11. Limitation on Guaranteed Obligations. Notwithstanding any
provision herein contained to the contrary, each Guarantor's liability
hereunder shall be limited to an amount not to exceed as of any date of
determination the greater of:

               (a) the net amount of all Loans and other extensions of credit
          (including Letters of Credit) advanced under the Credit Agreement
          and directly or indirectly re-loaned or otherwise transferred to, or
          incurred for the benefit of, such Guarantor, plus interest thereon
          at the applicable rate specified in the Credit Agreement; or

               (b) the amount which could be claimed by Agent, Canadian Agent
          and Lenders from such Guarantor under this US Guaranty without
          rendering such claim voidable or avoidable under Section 548 of
          Chapter 11 of the Bankruptcy Code or under any applicable state
          Uniform Fraudulent Transfer Act, Uniform Fraudulent Conveyance Act
          or similar foreign or domestic statute or common law after taking
          into account, among other things, such Guarantor's right of
          contribution and indemnification from each other Guarantor under
          Section 7.12.

               Notwithstanding the foregoing, in any case, each Guarantor's
          Liability shall not exceed the Guaranteed Obligations (which amount
          shall account for any prior payments in respect of the Guaranteed
          Obligations) or any amounts received by Agent, Canadian Agent or
          Lenders with respect to the Guaranteed Obligations from any action
          by Agent, Canadian Agent or Lenders with respect to any Collateral
          or any of the Credit Parties).

          7.12. Contribution with Respect to Guaranteed Obligations.

               (a) To the extent that any Guarantor shall make a payment under
          this US Guaranty of all or any of the Guaranteed Obligations (a
          "Guarantor Payment") which, taking into account all other Guarantor
          Payments then previously or concurrently made by the other
          Guarantors, exceeds the amount which such Guarantor would otherwise
          have paid if each Guarantor had paid the aggregate Guaranteed
          Obligations satisfied by such Guarantor Payment in the same
          proportion that such Guarantor's "Allocable Amount" (as defined
          below) (in effect immediately prior to such Guarantor Payment) bore
          to the aggregate Allocable Amounts of all of Guarantors in effect
          immediately prior to the making of such Guarantor Payment, then,
          following indefeasible payment in full in cash of the Obligations
          and termination of the Commitments, such Guarantor shall be entitled
          to receive contribution and indemnification payments from, and be
          reimbursed by, each of the other Guarantors for the amount of such
          excess, pro rata based upon their respective Allocable Amounts in
          effect immediately prior to such Guarantor Payment.

<PAGE>

               (b) As of any date of determination, the "Allocable Amount" of
          any Guarantor shall be equal to the maximum amount of the claim
          which could then be recovered from such Guarantor under this US
          Guaranty without rendering such claim voidable or avoidable under
          Section 548 of Chapter 11 of the Bankruptcy Code or under any
          applicable state Uniform Fraudulent Transfer Act, Uniform Fraudulent
          Conveyance Act or similar statute or common law.

               (c) This Section 7.12 is intended only to define the relative
          rights of Guarantors and nothing set forth in this Section 7.12 is
          intended to or shall impair the obligations of Guarantors, jointly
          and severally, to pay any amounts as and when the same shall become
          due and payable in accordance with the terms of this US Guaranty.

               (d) The rights of the parties under this Section 7.12 shall be
          exercisable upon the full and indefeasible payment of the
          Obligations and the termination of the Commitments.

               (e) The parties hereto acknowledge that the rights of
          contribution and indemnification hereunder shall constitute assets
          of any Guarantor to which such contribution and indemnification is
          owing.

          7.13 New Subsidiaries. Pursuant to Section 5.13 of the Credit
Agreement, the Credit Parties may create wholly owned direct or indirect
Subsidiaries after the Closing Date (as defined in the Credit Agreement) so
long as at the time of the formation of any such direct or indirect Subsidiary
of any Credit Party, Credit Parties, or any of them, as appropriate, shall
cause such new United States domestic Subsidiary, to enter into this Agreement
by executing and delivering in favor of Agent an instrument in the form of
Annex 1 attached hereto. Upon the execution and delivery of Annex 1 by such
new United States domestic Subsidiary, such domestic Subsidiary shall become a
Guarantor hereunder with the same force and effect as if originally named as a
Guarantor herein. The execution and delivery of any instrument adding an
additional Guarantor as a party to this Agreement shall not require the
consent of any Guarantor hereunder. The rights and obligations of each
Guarantor hereunder shall remain in full force and effect notwithstanding the
addition of any new Guarantor hereunder. Any document, agreement or instrument
executed or issued pursuant to this Section 7.13 shall be a "Loan Document"
for purposes of the Credit Agreement.

8. SECURITY.

          To secure payment of each Guarantor's obligations under this US
Guaranty, concurrently with the execution of this US Guaranty, each Guarantor
has entered into a US Security Agreement pursuant to which each Guarantor has
granted to Agent for the benefit, of itself, Canadian Agent, and Lenders a
security interest in substantially all of its personal property and has
entered into a Shared Pledge Agreement pursuant to which each Guarantor has
pledged all of the Stock of each of its domestic

<PAGE>

Subsidiaries and 65% of the Stock of each of its foreign Subsidiaries to
Collateral Agent for the benefit of Secured Parties (as defined in the
Collateral Agency Agreement).

9. CREDIT AGREEMENT.

          Each Guarantor agrees to perform, comply with and be bound by the
covenants contained in Sections 4, 5 and 6 of the Credit Agreement (which
provisions are incorporated herein by reference).

                           [SIGNATURE PAGES FOLLOW]

<PAGE>

          IN WITNESS WHEREOF, the parties hereto have executed and delivered
this US Guaranty as of the date first above written.

GUARANTORS:                             BLOUNT INTERNATIONAL, INC.

                                        By:_____________________________
                                        Name:___________________________
                                        Title:__________________________

                                        BLOUNT, INC.

                                        By:_____________________________
                                        Name:___________________________
                                        Title:__________________________

                                        FABTEK CORPORATION

                                        By:_____________________________
                                        Name:___________________________
                                        Title:__________________________

                                        GEAR PRODUCTS, INC.

                                        By:_____________________________
                                        Name:___________________________
                                        Title:__________________________

                                        DIXON INDUSTRIES, INC.

                                        By:_____________________________
                                        Name:___________________________
                                        Title:__________________________

                                        FREDERICK MANUFACTURING CORPORATION

                                        By:_____________________________
                                        Name:___________________________
                                        Title:__________________________

<PAGE>

                                        WINDSOR FORESTRY TOOLS LLC
                                        By: Blount, Inc., its sole member

                                        By:_____________________________
                                        Name:___________________________
                                        Title:__________________________

                                        4520 CORP., INC.

                                        By:_____________________________
                                        Name:___________________________
                                        Title:__________________________

                                        OMARK PROPERTIES, INC.

                                        By:_____________________________
                                        Name:___________________________
                                        Title:__________________________

                                        BI, L.L.C.
                                        By: Blount, Inc., its managing member

                                        By:_____________________________
                                        Name:___________________________
                                        Title:__________________________

AGENT:                                  GENERAL ELECTRIC CAPITAL
                                        CORPORATION, as Agent

                                        By:_____________________________
                                        Name:___________________________
                                        Title:__________________________

<PAGE>

                                  SCHEDULE I

If to any Guarantor, to Borrower Representative, at

       Blount, Inc.
       4909 S.E. International Way
       Portland, Oregon  97222
       Attention: Calvin E. Jenness and Richard H. Irving, III
       Telecopier No.: (503) 653-4612
       Telephone No.: (503) 653-4573

       with copies to:

       Cravath, Swaine & Moore
       Worldwide Plaza
       825 Eighth Avenue
       New York, New York  10019
       Attention: Ronald Cami, Esq.
       Telecopier No.: (212) 474-3700
       Telephone No.: (212) 474-1048

<PAGE>

                                    ANNEX 1

                   FORM OF SUPPLEMENT TO SUBSIDIARY GUARANTY

     Supplement No. __ (this "Supplement") dated as of _______ to the US
Guaranty dated as of ______ ___, 2003 (as amended, restated, supplemented or
otherwise modified from time to time, the "US Guaranty") by each of the
Guarantors listed on the signature pages thereto and those additional entities
that thereafter become parties thereto (each, a "Guarantor" and collectively,
"Guarantors"), and GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware
corporation, individually and as agent (in such capacity, "Agent") for itself,
General Electric Capital Canada Inc., as Canadian agent ("Canadian Agent") and
the lenders from time to time signatory to the Credit Agreement hereinafter
defined.

                                  WITNESSETH:

     WHEREAS, pursuant to that certain Credit Agreement dated as of May 15,
2003 by and among Blount, Inc., a Delaware corporation, the other Credit
Parties (as defined in the Credit Agreement) signatory thereto, Agent,
Canadian Agent and the other Persons signatory thereto from time to time as
lenders ("Lenders") (including all annexes, exhibits and schedules thereto, as
from time to time amended, restated, supplemented or otherwise modified, the
"Credit Agreement"), US Lenders have agreed to make Loans (as defined in the
Credit Agreement) to, and incur Letter of Credit Obligations (as defined in
the Credit Agreement) on behalf of US Borrowers (as defined in the Credit
Agreement), and Canadian Lenders have agreed to make Loans to Canadian
Borrowers;

     WHEREAS, capitalized terms used herein and not otherwise defined herein
shall have the meanings assigned to such terms in the US Guaranty, and if not
defined therein, in the Credit Agreement; and

     WHEREAS, in order to induce Agent, Canadian Agent and Lenders to enter
into the Credit Agreement and other Loan Documents and to induce Lenders to
make the Loans and to incur Letter of Credit Obligations as provided for in
the Credit Agreement, Guarantors have agreed to guarantee payment of the
Obligations;

     WHEREAS, pursuant to provisions of Section 5.13 of the Credit Agreement,
Credit Parties may create new wholly owned direct or indirect Subsidiaries
after the Closing Date so long as at the time of the formation of any such
direct or indirect Subsidiary of any Credit Party, Credit Parties, or any of
them, as appropriate, shall cause such new United States domestic Subsidiary
to provide to Agent a supplement to the US Guaranty, and such other security
documents reasonably requested by Agent in its discretion and the execution of
the US Guaranty by the undersigned new Guarantor or Guarantors (collectively,
"New Guarantor") may be accomplished by the execution of this Supplement in
favor of Agent for the benefit of itself, Canadian Agent and Lenders;

     NOW, THEREFORE, for and in consideration of the foregoing and other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, New Guarantor hereby agrees as follows:

<PAGE>

     SECTION 1. In accordance with Section 7.13 of the US Guaranty, New
Guarantor, by its signature below, becomes a "Guarantor" under the US Guaranty
with the same force and effect as if originally named therein as a "Guarantor"
and New Guarantor hereby (a) agrees to all of the terms and provisions of the
US Guaranty applicable to it as a "Guarantor" thereunder and (b) represents
and warrants that the representations and warranties made by it as a
"Guarantor" thereunder are true and correct on and as of the date hereof. In
furtherance of the foregoing, New Guarantor, as security for the payment and
performance in full of the Guaranteed Obligations, does hereby guarantee,
subject to the limitations set forth in Section 7 of the US Guaranty, to
Agent, for the benefit of itself, Canadian Agent and Lenders, the full and
prompt payment of the Guaranteed Obligations pursuant to the Credit Agreement
and every other Loan Document. Each reference to a "Guarantor" in the US
Guaranty shall be deemed to include the New Guarantor. The US Guaranty is
incorporated herein by reference.

     SECTION 2. New Guarantor represents and warrants to Agent, Canadian Agent
and Lenders that this Supplement has been duly executed and delivered by New
Guarantor and constitutes its legal, valid and binding obligation, enforceable
against it in accordance with its terms.

     SECTION 3. This Supplement may be executed in any number of counterparts,
each of which shall collectively and separately constitute one and the same
agreement. This Supplement may be authenticated by manual signature, facsimile
or, if approved in writing by Agent, electronic means, all of which shall be
equally valid.

     SECTION 4. Except as expressly supplemented hereby, the US Guaranty shall
remain in full force and effect.

     SECTION 5. THIS SUPPLEMENT SHALL BE BINDING UPON EACH GUARANTOR AND ITS
RESPECTIVE SUCCESSORS AND ASSIGNS (INCLUDING A DEBTOR-IN-POSSESSION ON BEHALF
OF SUCH GUARANTOR), AND SHALL, TOGETHER WITH THE RIGHTS AND REMEDIES OF AGENT,
FOR THE BENEFIT OF ITSELF, CANADIAN AGENT AND LENDERS, HEREUNDER, INURE TO THE
BENEFIT OF AGENT, CANADIAN AGENT AND LENDERS, ALL FUTURE HOLDERS OF ANY
INSTRUMENT EVIDENCING ANY OF THE OBLIGATIONS AND THEIR RESPECTIVE SUCCESSORS
AND ASSIGNS, AND SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS
MADE AND PERFORMED IN THAT STATE, AND NONE OF THE TERMS OR PROVISIONS OF THIS
AGREEMENT MAY BE WAIVED, ALTERED, MODIFIED OR AMENDED EXCEPT IN WRITING DULY
SIGNED FOR AND ON BEHALF OF AGENT AND GUARANTOR.

           [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.]

<PAGE>

       IN WITNESS WHEREOF, New Guarantor has duly executed this Supplement to
the US Guaranty as of the day and year first above written.

NEW GUARANTOR:                                [Name of New Guarantor]

                                        By:_____________________________
                                        Name:___________________________
                                        Title:__________________________

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