Document:

<PAGE>

                                                                    Exhibit 10.1

                         EXECUTIVE EMPLOYMENT AGREEMENT

     This Executive Employment Agreement (this "Agreement") dated as of
___________ ___, ____ (the "Effective Date"), is by and between NewsEdge
Corporation (the "Company"), a Delaware corporation having its principal
executive offices at 80 Blanchard Road, and ____________ (the "Executive"), an
individual residing at ______________________________.

     The Company and the Executive agree as follows:

     1.  EMPLOYMENT OF EXECUTIVE.

     (A)  EMPLOYMENT.  Subject to the terms and conditions of this Agreement,
the Company agrees to employ the Executive, and the Executive agrees to serve,
as the Company's _________________, reporting to the Company's ________________
(the Executive's "Supervisor") and having such powers and duties consistent with
his position as may reasonably be assigned to him from time to time. The
Executive's employment hereunder will commence on the Effective Date and will
continue unless terminated as herein provided.

     (B) COMMITMENT.  The Executive represents that he is not currently party to
or bound by any commitments that might interfere with or impair his performance
of such duties and responsibilities or that are inconsistent with his
obligations hereunder.  The Executive will devote such time and attention to his
duties and responsibilities hereunder as reasonably are required, and will not
undertake any commitments that would interfere with or impair his performance of
such duties and responsibilities.

     2.  COMPENSATION.  During the term of the Executive's employment with the
Company hereunder, the Company will compensate the Executive as follows.

     (A) SALARY.  The Company will pay to the Executive a salary, payable
monthly, at the rate of $_______ per annum or such higher rate as the Chief
Executive Officer may set from time to time, in its discretion.

     (B) PERFORMANCE BONUSES. The Executive will be eligible to receive
quarterly cash bonuses at an annualized rate of up to __% of his salary, based
on the achievement of reasonable individual and Company performance targets to
be agreed on by the Executive and the Executive's Supervisor from time to time.
If the Executive and the Executive's Supervisor are unable to agree as to
individual and Company performance targets, such disputes shall be determined
promptly, reasonably and in good faith by the Chief Executive Officer. It is
agreed and understood that, for the Executive's employment during this contract
year with the Company, the annualized bonus payable upon achievement of such
targets shall be $______.

     (C) BENEFITS.  The Company will promptly reimburse all out-of-pocket
expenses reasonably incurred by the Executive in the course of performing his
<PAGE>

employment duties and responsibilities hereunder, subject to receipt of
appropriate documentation.  The Company will also provide consistent with his
position, Company-paid health and life insurance, and with such other fringe
benefits as it from time to time may make generally available to its other
senior executives at the Executive's level.

     3.  TERMINATION.

     (A) EVENTS CAUSING TERMINATION.  The Executive's employment hereunder will
terminate upon the occurrence of any of the following events:

         (1) The Executive's death, or a determination of his legal incapacity
     by a court of competent jurisdiction;

         (2) The termination of the Executive's employment hereunder by the
     Company, by written notice to the Executive, upon the Executive's inability
     due to illness or injury to perform the essential functions of his position
     with or without reasonable accommodation;

         (3) The termination of the Executive's employment hereunder by the
     Company, for Cause, by written notice to the Executive;

         (4) The termination of the Executive's employment hereunder by the
     Company, without Cause, by thirty (30) days prior written notice to the
     Executive;

         (5) The termination of the Executive's employment hereunder by the
     Executive, for Good Reason, by thirty (30) days prior written notice to the
     Company; or

         (6) The termination of the Executive's employment hereunder by the
     Executive, without Good Reason, by thirty (30) days prior written notice to
     the Company.

     (B) "CAUSE" AND "GOOD REASON" DEFINED.  For purposes of this Agreement:
"Cause" means:  (a) the Executive's conviction of any crime (whether or not
involving the Company) (other than unintentional motor vehicle felonies); (b)
any act of theft, fraud or embezzlement by the Executive in connection with his
work with the Company; or (c) the Executive's continuing, repeated and willful
failure or refusal to perform, or continuing, repeated and gross negligence in
the performance of, his material duties and services to the Company (other than
due to his incapacity due to illness or injury), provided that such failure or
refusal or gross negligence continues uncorrected for a period of 30 days after
the Executive shall have received written notice from the Chief Executive
setting forth with specificity the nature of such failure, refusal, or gross
negligence; (d) the breach of this contract by the Executive; (e) or the willful
violation of Federal and/or State Securities Laws; or (f) the commission of an
act that causes unfair competition for the company.

     "Good Reason" means the occurrence of one or more of the following
occurring without the specific written consent of the Executive: (i) an adverse
change in the nature of scope or duties including; budget authority, change in
the level of duties or reduction of duties) of the Executive; (ii) an adverse
change in the reporting responsibilities (change in supervisor, change in level
of supervisor, demotion, or status -- full time/part time, reduced pay

                                      -2-

<PAGE>

of the Executive; (iii) any requirement that the Executive's principle place of
work be relocated outside of the Commonwealth of Massachusetts or more than
twenty-five (25) miles of its location as of the effective date of this
Agreement; or (iv) the Company's breach of any term of this Agreement which is
not fully remedied within seven (7) calendar days after receipt by the Company
of a written notice from the Executive of such breach; or the diminution in
salary, benefits, bonus or any other form of compensation.

     (C) ADJUSTMENTS UPON TERMINATION.  Notwithstanding any other provision of
this Agreement:

         (1) If the Executive's employment with the Company terminates pursuant
     Section 3(A)(4) (by the Company, without Cause) or Section 3(A)(5) (by the
     Executive, for Good Reason), then, for a six (6) month period immediately
     following the date of such termination, the Company will continue to pay
     the Executive a salary at a rate equal to that at which he was being paid
     at the time of termination, as well as a pro-rata portion of the bonus
     specified in Section 2(B), and (subject to Section 3(D) below), will
     likewise continue to provide the Executive with the benefits that he was
     receiving at the time of termination (or, if the Company is unable to do so
     because such benefits may only be provided to current employees, subject to
     the provisions of Section 3(D) it will provide the Executive with the cash
     value thereof). In addition to the payments and benefits specified above,
     the Company will pay the Executive on the date of termination a lump sum
     payment for all accrued unused vacation time. It is agreed and understood
     that the Company's duty to make the payments and provide the benefits
     described in this Section 3(C)(1) shall be conditioned upon the Executive's
     execution of a satisfactory general release in favor of the Company.

         (2) If the Executive's employment with the Company terminates other
     than pursuant to Section 3(A)(4) (by the Company, without Cause) or Section
     3(A)(5) (by the Executive, with Good Reason), then the rights of the
     Executive to receive future compensation pursuant to Section 2 and Section
     3 (add) hereof, and all other rights of the Executive hereunder, will cease
     as of the date of such termination except as may be required by law.  As of
     the date of such termination, the Executive shall receive a lump sum
     payment for all accrued unpaid wages and accrued unused vacation time.

     (D) NO DUTY TO MITIGATE; TERMINATION OF BENEFITS.  The Executive shall not
be required to mitigate the amount of any compensation payable to him pursuant
to Section 3(C)(1) hereof, whether by seeking other employment or otherwise. If,
during the period during which he is receiving such compensation, the Executive
obtains new fulltime employment providing him with benefits comparable to those
he is entitled to receive from the Company hereunder, then, when the Executive
begins receiving such benefits from his new employer, the Executive will no
longer be entitled to receive such benefits from the Company but will continue
to be entitled to receive payment of his salary (and other non-duplicative
benefits) as provided for herein

                                      -3-

<PAGE>

4. CHANGE OF CONTROL

       In the event of a Change of Control (as defined below), the following
provisions will supercede Section 3 of this Agreement, which shall terminate and
be of no further force or effect:

       (A) CHANGE OF CONTROL BONUS.  Upon the consummation of a transaction
resulting in a Change of Control, the Executive (if he is still employed by the
Company immediately prior to such consummation) will be paid a bonus equal to
twelve months' salary as in effect immediately prior to the announcement of the
Change of Control, including for this purpose both the Executive's base
compensation and the Executive's targeted bonus amount.

     (B) TERMINATION AFTER CHANGE OF CONTROL.  After consummation of a
transaction resulting in a Change of Control, the Executive's employment with
the Company may be terminated by either party at any time, for any reason or no
reason.  In the event that the Executive's employment is terminated by the
Company, the fringe benefits (other than stock-based fringe benefits) in which
the Executive was participating at the time of his termination will be
continued, to the extent that continuation of benefits is permitted under the
Company's then-existing benefit plans, for a period of one year after such
termination.

     (C) DEFINITION OF CHANGE OF CONTROL.  For purposes of this Agreement, the
term "Change of Control" shall mean (i) a sale by the Company of all or
substantially all of its business or assets or (ii) a merger or consolidation of
the Company with or into another entity whereby the stockholders of the Company
immediately prior to the transaction hold less than a majority of the
outstanding voting stock of the entity surviving such transaction, or (iii) the
transfer, in a single transaction or group or related transactions, of a
majority of the outstanding voting stock of the Company to a single purchaser or
group of related purchasers.

     (D) MANAGEMENT BUY-OUT.  Notwithstanding the foregoing, no bonus shall be
payable pursuant to paragraph (A) above to the Employee if he is a participant
in a "Management Buy-Out".  For purposes hereof, a "Management Buy-Out" shall
mean an Change of Control where the group controlling the entity which acquires
the Company's assets or stock or which survives the merger with the Company
includes individuals who are executive officers of the Company immediately prior
to such Change of Control.  Employee shall be deemed a participant in such
Management Buy-Out if he is a member of such control group.

5.   MISCELLANEOUS

     (A) BENEFITS OF AGREEMENT; NO ASSIGNMENTS; NO THIRD-PARTY BENEFICIARIES.

         (1) This Agreement will bind and inure to the benefit of the parties
     hereto and their respective heirs, successors, and permitted assigns.

         (2) Neither party will assign any rights or delegate any obligations
     hereunder without the consent of the other party (except that the Company
     may assign its rights and delegate its obligations hereunder to any

                                      -4-

<PAGE>

     successor to its business, whether by merger or consolidation, sale of
     stock or of all or substantially all of its assets, or otherwise), and any
     attempt to do so will be void.

         (3) Nothing in this Agreement is intended to or will confer any rights
     or remedies on any person or entity other than the parties hereto, their
     respective heirs, successors, and permitted assigns.

     (B) NOTICES.  All notices, requests, payments, instructions, or other
documents to be given hereunder will be in writing or by written
telecommunication, and will be deemed to have been duly given if (i) delivered
personally (effective upon delivery), (ii) mailed by registered or certified
mail, return receipt requested, postage prepaid (effective five business days
after dispatch), (iii) sent by a reputable, established courier service that
guarantees next business day delivery (effective the next business day), or (iv)
sent by telecopier followed within 24 hours by confirmation by one of the
foregoing methods (effective upon receipt of the telecopy in complete, readable
form), addressed to the recipient party at its address set forth in the first
paragraph hereof (or to such other address as the recipient party may have
furnished to the sending party for the purpose pursuant to this section).

    (C) COUNTERPARTS.  This Agreement may be executed by the parties in
separate counterparts, each of which when so executed and delivered will be an
original, but all of which together will constitute one and the same agreement.
In pleading or proving this Agreement, it will not be necessary to produce or
account for more than one such counterpart.

    (D) CAPTIONS.  The captions of sections or subsections of this Agreement
are for reference only and will not affect the interpretation or construction of
this Agreement.

    (E) CONSTRUCTION.  The language used in this Agreement is the language
chosen by the parties to express their mutual intent, and no rule of strict
construction will be applied against either party.

    (F) WAIVERS; AMENDMENTS.  No waiver of any breach or default hereunder will
be valid unless in writing signed by the waiving party.  No failure or other
delay by any party exercising any right, power, or privilege hereunder will be
or operate as a waiver thereof, nor will any single or partial exercise thereof
preclude any other or further exercise thereof or the exercise of any other
right, power, or privilege.  No amendment or modification of this Agreement will
be valid or binding unless in a writing signed by both the Executive and the
Company.

    (G) ENTIRE AGREEMENT.  This Agreement contains the entire understanding and
agreement between the parties, and supersedes any prior understandings or
agreements between them, with respect to the subject matter hereof; provided,
that except as specifically set forth herein, except the NewsEdge
Confidentiality Agreement executed on February, 1998 this Agreement does not
affect any agreement between the parties relating to stock options granted by
the Company (including its predecessors, successors and affiliates) to the
Executive, which agreements will survive the execution and delivery of this
Agreement.

    (H) GOVERNING LAW.  This Agreement will be governed by and interpreted and
construed in accordance with the internal laws of the Commonwealth of
Massachusetts, without reference to principles of conflicts or choice of law.

                                      -5-

<PAGE>

     IN WITNESS WHEREOF, each of the Company and the Executive has executed and
delivered this Agreement as an agreement under seal as of the date first above
written.

The EXECUTIVE:

___________________________________

The COMPANY:

___________________________________
Rory Cowan
Chairman of the Board

                                      -6-
<PAGE>

                                   ADDENDUM I
                                   ----------

     The following table sets forth the terms and conditions of the Executive
Employment Agreements between NewsEdge Corporation and the Executives.

<TABLE>
<CAPTION>
NAME AND PRINCIPAL POSITION             Year         ANNUAL SALARY ($)        COMPENSATION BONUS
-----------------------------------     ----         -----------------        ------------------
---------------------------------------------------------------------------------------------------
<S>                                    <C>              <C>                        <C>
Cliff Pollan(1)                         2001             $250,000                   $80,000
     President and
     Chief Executive Officer
---------------------------------------------------------------------------------------------------
Ronald Benanto                          2001             $210,000                   $80,000
     Vice President of Finance and
     Chief Financial Officer
---------------------------------------------------------------------------------------------------
Charles White                           2001             $185,000                   $70,000
     Vice President, e-Content
     Business
---------------------------------------------------------------------------------------------------
Thomas Karanian                         2001             $185,000                   $70,000
     Vice President, Development,
     Operations and Customer
     Service
---------------------------------------------------------------------------------------------------
Alton Zink                              2001             $150,000                   $52,000
     Vice President, Human
     Resources
---------------------------------------------------------------------------------------------------
David Scott                             2001             $161,000                   $60,000
     Vice President, Corporate
     Marketing
---------------------------------------------------------------------------------------------------
John Crozier                            2001             $185,000                   $90,000
     Vice President, North American
     Sales
---------------------------------------------------------------------------------------------------
Lee Phillips                            2001             $150,000                   $60,000
     Vice President,  Product
     Marketing
---------------------------------------------------------------------------------------------------
</TABLE>
_____________________________

(1)  Under Section 4(A) of the Executive Employment Agreement entitled Change of
     Control, Mr. Pollan is entitled to twelve (12) months' salary.

                                      -7-<PAGE>

                                                                    Exhibit 4.11

                            RESTRUCTURING AGREEMENT

     THIS RESTRUCTURING AGREEMENT (this "Agreement") is made and entered into as
                                         ---------
of April 4, 2001 by and among the following parties (the "Parties"):
                                                          -------

     (i)   Aerovox Incorporated, a Delaware corporation ("Aerovox");
                                                          -------

     (ii)  Aerovox de Mexico, a Mexico corporation f/k/a Capacitores Unidos
S.A. de C.V. (both the current and predecessor entities referred to herein as
"ADM");
 ---

     (iii) Enrique Sanchez Aldunate ("Mr. Sanchez"); and
                                      -----------

     (iv)  Hobir Holding B.V. ("Hobir"), Kato Holding B.V. ("Kato"), Bires
                                -----                        ----
Investments B.V. ("Bires"), Kasri Holding B.V. ("Kasri"), Tako Holding B.V.
                   -----                         -----
("Tako"), and Renko Investments B.V. ("Renko"), each a Netherlands corporation
  ----                                 -----
(each, a "Seller").
          ------

     WHEREAS, on April 5, 1999, Aerovox and Robert Elliot acquired all of the
outstanding shares of stock of Capacitores Unidos S.A. de C.V. from the Sellers
(the "Acquisition") pursuant to Stock Purchase Agreements dated as of April 5,
      -----------
1999 between Aerovox and each Seller (collectively, the "Stock Purchase
                                                         --------------
Agreements");
----------

     WHEREAS, in connection with the Acquisition, Aerovox issued to each Seller
a promissory note payable on April 4, 2001 and a promissory note payable on
April 4, 2002 (collectively, the "Notes"), the aggregate principal amount of
                                  -----
such Notes being $1,439,001;

     WHEREAS, the Notes are secured by pledges of shares of ADM pursuant to
Restated Security Pledge Agreements dated as of January 1, 2001 between Aerovox
and each Seller (the "Restated Pledge Agreements");
                      --------------------------

     WHEREAS, in connection with the Acquisition, Aerovox issued to Sellers an
aggregate of 700,000 shares of Aerovox common stock, par value U.S. $0.01 per
share (the "Aerovox Shares");
            --------------

     WHEREAS, pursuant to a Stockholders Agreement dated as of April 5, 1999
among Aerovox, the Sellers and Mr. Sanchez (the "Stockholders Agreement"),
                                                 ----------------------
Aerovox granted to Sellers a Put Option (as defined therein) on the Aerovox
Shares;

     WHEREAS, pursuant to a Rent Agreement dated as of March 3, 2000 among
Aerovox and ADM (the "Equipment Lease"), Aerovox leases certain equipment to ADM
                      ---------------
at ADM's facility in the Mexico City plant;

     WHEREAS, the Parties now wish to restructure their relationships and
current rights and obligations in respect of the Notes and related matters
pursuant to the terms and conditions contained herein;

     NOW THEREFORE, in consideration of the premises and mutual covenants and
agreements set forth herein, and each intending to be legally bound hereby, the
Parties hereby agree as follows:
<PAGE>

                                                                    Exhibit 4.11

1.   Notes.  At Closing, the twelve (12) outstanding Notes shall be canceled and
     -----
delivered to Aerovox and a replacement note shall be issued to each Seller
substantially in the forms attached hereto as Exhibits 1.1-1.6, respectively
(each a "Replacement Note").  All rights and obligations under the Notes shall
         ----------------
terminate upon the issuance of the Replacement Notes.

2.   Restated Pledge Agreements.  At Closing, the Restated Pledge Agreements
     --------------------------
shall be amended and restated and replaced with a single Second Restated Pledge
Agreement substantially in the form attached hereto as Exhibit 2 (the "Second
                                                                       ------
Restated Pledge Agreement").
-------------------------

3.   Delivery of Pledged Shares.  At Closing, Aerovox shall deliver to First
     --------------------------
National Bank, as U.S. escrow agent for each Seller, the certificates
representing the Pledged Securities (as defined in the Second Restated Pledge
Agreement) securing such Seller's right to payment under such Seller's Note,
together with duly executed forms of assignment sufficient to transfer title
thereto to such Seller.  Such escrow agent shall hold the Pledged Shares in
accordance with an escrow agreement mutually agreeable to the parties hereto.
At Closing, Aerovox shall also deliver UCC-1 financing statements and an
irrevocable proxy in accordance with the terms of the Second Restated Pledge
Agreement.

4.   Juarez Operations.  Not later than sixty (60) days following any default by
     -----------------
Aerovox under a Replacement Note (which period may be extended for an additional
sixty (60) days for reasons outside the control of Aerovox), Aereovox will
create a new Mexican subsidiary to become a holding company for ADM's Juarez and
Mexico City operations ("Holding Company").  ADM will become a subsidiary of
                         ---------------
Holding Company and will transfer (the "Transfer") all assets related to the
                                        --------
Mexico City operations to a newly formed subsidiary ("Aerovox Mexico City") of
                                                      -------------------
Holding Company and the Aerovox Mexico City shares will be substituted as
Pledged Shares.  In the event of any foreclosure on the Pledged Shares prior to
the Transfer, Aerovox shall hold harmless ADM and after the Transfer Aerovox
Mexico City in respect of liabilities associated with the Juarez operations of
ADM.

5.   Stockholders Agreement.  Effective as of the Closing, Section 6 of the
     ----------------------
Stockholders Agreement shall automatically be amended to read in its entirety as
set forth in Exhibit 5 hereto.

6.   Foil Supply Contract.  At the time of any default under a Replacement Note,
     --------------------
Aerovox will enter into a renewable foil supply contract with ADM (if prior to
the Transfer) or Aerovox Mexico City (if after the Transfer) with the same
transfer pricing as is currently in effect.  The terms of such foil supply
contract shall require ADM or Aerovox Mexico City, as the case may be, to
purchase from Aerovox the lesser of certain minimum specified foil amounts or
100% of the demand of ADM or Aerovox Mexico City, as the case may be, for foil.

7.   Equipment Lease.  At the time of any default under a Replacement Note, the
     ---------------
Equipment Lease shall automatically be extended for a five year term as of the
date of such default.  The Equipment Lease shall be assigned by ADM to Aerovox
Mexico City as part of the Transfer.

8.   Aerovox Trademark.  In the event that all Sellers foreclose on the Pledged
     -----------------
Shares in accordance with the Second Restated Pledge Agreements, Aerovox shall
license to ADM (if prior to the Transfer) or Aerovox Mexico (if after the
Transfer) for a period of one year from the

                                      -2-
<PAGE>

                                                                    Exhibit 4.11

date of such foreclosure the nonexclusive right to use the Aerovox trademark in
connection with sales of current products.

9.   Customer Information.  In the event that all Sellers foreclose on the
     --------------------
Pledged Shares in accordance with the Restated Pledge Agreements, Aerovox shall
grant to ADM (if prior to the Transfer) or Aerovox Mexico City (if after the
Transfer) reasonable access to all information and records of the customers of
Aerovox related to product sold in the U.S., but produced by ADM or Aerovox
Mexico City, as the case may be, at its Mexico City plant for a period of one
year from the date of such foreclosure.

10.  Release.  Effective as of the Closing, Aerovox hereby irrevocably releases
     -------
and discharges all other Parties hereto and their respective successors and
assigns and any and all past, current and future officers, directors, employees,
attorneys, agents, representatives, independent contractors and shareholders of
such Parties and their respective successors and assigns, both individually and
in their official capacities, as applicable from any and all claims,
controversies, suits, actions, causes of action, debts, accounts, bonds,
covenants, agreements, contracts, damages, liabilities or demands, whether under
federal, state, local or foreign law or regulation, whether in law or in equity,
whether known or unknown, whether express or implied, whether liquidated or
unliquidated, which Aerovox has ever had, now has, or may hereafter possess from
the beginning of time until the Closing, including, but not limited to claims
arising out of the following agreements and transactions contemplated thereby:
the (i) Notes, (ii) Restated Pledge Agreements, (iii) Stock Purchase Agreements,
(iv) Stockholders Agreement, and (v) Equipment Lease.

11.  Closing.  The closing of the transactions contemplated hereby (the
     -------
"Closing") shall take place simultaneously with the signing of this Agreement or
 -------
at such other date and time as may be determined by the mutual agreement of the
parties.  The parties agree to work in good faith so that the Closing can occur
prior to the tenth day after the date of signing this Agreement.

12.  Miscellaneous.
     -------------

     12.1.  Authority to Enter Into Agreement. Each of the Parties represents
            ---------------------------------
as to itself that it has the requisite power and authority to enter into and
perform this Agreement, and that this Agreement is and will remain such Party's
valid and binding agreement, enforceable in accordance with its terms (subject,
as to the enforcement of remedies, to any applicable bankruptcy, insolvency or
other laws affecting the enforcement of creditors rights).

     12.2.  Entire Agreement. This Agreement, together with the other agreements
            ----------------
and transactions contemplated hereunder, sets forth the entire agreement and
understanding of the Parties and supersedes any prior agreement or
understanding, whether written or oral, relating the subject matter contained
herein.

     12.3.  Amendment and Waivers. No amendment of any provision of this
            ---------------------
Agreement shall be valid unless the same shall be in writing and signed by an
authorized representative of each of the Parties. No waiver by any Party of any
default, misrepresentation, or breach of warranty or covenant hereunder, whether
intentional or not, shall be deemed to extend to any other, prior or subsequent
default, misrepresentation, or breach of warranty or covenant

                                      -3-
<PAGE>

                                                                    Exhibit 4.11

hereunder or affect in any way any rights arising by virtue of any other, prior
or subsequent such occurrence.

     12.4.  No Third Party Beneficiaries. Except as specifically provided for,
            ----------------------------
this Agreement shall not confer any rights or remedies upon any person other
than the Parties and their respective successors and permitted assigns.

     12.5.  Notices. Notices under this Agreement shall be in writing and shall
            -------
be deemed given when actually delivered to the recipient at the applicable
address or facsimile number listed below (or at such other address as the
recipient shall have designated by notice given hereunder):

     If to Aerovox or Aerovox de Mexico:

            Aerovox Incorporated
            167 John Vertente Blvd.
            New Bedford, MA 02745-1221
            Fax: 508-910-3179
            Attn: Chief Executive Officer

     with a copy to:

            Ropes & Gray
            One International Place
            Boston, MA 02110
            Fax: 617-951-7050
            Attn: David A. Fine, Esq.

     If to Mr. Sanchez or a Seller:

            Tezozomoc 239
            Mexico D.F. 02760
            Mexico
            Fax:  525-352-5385

     12.6.  This Agreement, which may be executed in counter parts, shall be
governed by and construed in accordance with the domestic substantive laws of
the Commonwealth of Massachusetts without giving effect to any choice or
conflict of laws provisions or rule that would cause the application of the
domestic substantive laws of any other jurisdiction.

     12.7.  Any dispute among the parties which arises hereunder shall be
resolved exclusively in accordance with the arbitration procedures set forth in
clause 8.13 of the Stock Purchase Agreements.

                                      -4-
<PAGE>

                                                                    Exhibit 4.11

IN WITNESS WHEREOF, each of the undersigned has duly executed this Agreement (or
caused this Agreement to be executed on its behalf by its officer or
representative thereunto duly authorized ) under seal as of the date first above
written.

                         AEROVOX INCORPORATED

                         By:_______________________
                            Name:
                            Title:

                         AEROVOX DE MEXICO, S.A. DE C.V.

                         By:_______________________
                            Name:
                            Title:

                         HOBIR HOLDING B.V.

                         By:_______________________
                            Name:
                            Title:

                         KATO HOLDING B.V.

                         By:_______________________
                            Name:
                            Title:

                         BIRES INVESTMENTS, B.V.

                         By:_______________________
                            Name:
                            Title:

                                      -5-
<PAGE>

                                                                    Exhibit 4.11

                         TAKO HOLDING, B.V.

                         By:_______________________
                            Name:
                            Title:

                         KASRI HOLDING B.V.

                         By:_______________________
                            Name:
                            Title:

                         RENKO INVESTMENTS B.V

                         By:_______________________
                            Name:
                            Title:

                         ___________________________
                         Enrique Sanchez Aldunate

                                      -6-
<PAGE>

                                                                    Exhibit 4.11

                               Exhibits 1.1-1.6

                               Replacement Notes

                                      -7-
<PAGE>

                                                                    Exhibit 4.11

                                   Exhibit 2

                       Second Restated Pledge Agreement

                                      -8-
<PAGE>

                                                                    Exhibit 4.11

                                   Exhibit 5

               Amendment to Section 6 of Stockholders Agreement

"6.  PUT OPTION.

     6.1  Put Options. Subject to Section 6.4 hereof, at any time during the
          -----------
period commencing on April 4, 2003 and ending on April 4, 2005, the holders of
the Company Shares shall have the right to sell, and the Company shall be
required to purchase, for the Put Price (as determined herein) all, but not less
than all, of the Company Shares (the "Put Option"). In order to obligate the
                                      ----------
Company to purchase the Company Shares pursuant to this Section 6.1, a majority
of the holders of the Company Shares must deliver to the Company written notice
of the exercise of such Put Option (the "Put Notice") on or prior to April 4,
                                         ----------
2005, and if such notice is given, all holders of the Company Shares shall be
obligated to sell their Company Shares pursuant to this Section 6.

     6.2. Put Price. The purchase price for the purchase and sale of the
          ---------
Company Shares pursuant to Section 6.1 (the "Put Price") shall be the book value
                                             ---------
of the Company Shares at the end of the Company's most recent fiscal year ended
not more than 90 days prior to the exercise of the Put Option, as determined in
accordance with GAAP as then in effect and as shown on the audited balance sheet
of the Company for the last day of the most recent audited fiscal period.

     6.3. Closing. Except as otherwise provided in Section 6.4 hereof, the
          -------
closing of the purchase and sale of the Company Shares pursuant to the exercise
of the Put Option pursuant to this Section 6 shall take place no later than 60
days after the Put Notice (the "Put Closing Date") at the principal office of
                                ----------------
the Company or if such closing would violate applicable law, at such later date
as permitted by applicable law, but in no event later than 90 days after the Put
Notice. At the closing of the purchase and sale of Company Shares pursuant to
this Section 6, each holder of Company Shares shall deliver to the Company a
certificate or certificates representing its Company Shares duly endorsed, or
with stock (or equivalent) powers duly endorsed, for transfer with signature
guaranteed, free and clear of any lien or encumbrance, with any necessary stock
(or equivalent) transfer tax stamps affixed, and the Company shall pay to such
holder by certified or bank check or wire transfer of immediately available
federal funds the Put Price. The delivery of a certificate or certificates for
the Company Shares by any Person selling Company Shares pursuant to this Section
6 shall be deemed a representation and warranty by such Person that: (i) such
Person has full right, title and interest in and to such Company Shares; (ii)
such Person has all necessary power and authority and has taken all necessary
action to sell such Company Shares as contemplated; and (iii) such Company
Shares are free and clear of any and all liens or encumbrances.

     6.4  Effect of Certain Transactions. In the event of a merger,
          ------------------------------
consolidation or other change of control or sale of all or substantially all of
the assets of the Company in a

                                      -9-
<PAGE>

                                                                    Exhibit 4.11

single or series of related transactions (each of the foregoing a "Covered
Transaction"), the Company shall notify the holders of the Company Shares of
such Covered Transaction not later than thirty (30) days prior to the effective
time of such Covered Transaction. Notwithstanding any other provisions contained
herein, in the event of a Covered Transaction, the Put Option shall cease to be
exercisable and terminate forever as of the effective time of the Covered
Transaction; provided, however, that immediately prior to the consummation of
             --------  -------
such Covered Transaction, the exercisability of the Put Option shall be
accelerated. In the event of a Covered Transaction, the closing of the purchase
and sale of the Company Shares pursuant to the Put Option pursuant to this
Section 6 shall take place simultaneously with the closing of the Covered
Transaction and the Put Price shall be the greater of the price as calculated
pursuant to Section 6.2 hereof and the per share purchase price, paid by the
buyer in the Covered Transaction."

                                      -10-

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