Document:

EXHIBIT
      10.2

    

    MORTGAGE
      NOTE

     

    
      	$4,500,000.00  	
              July
                30, 2007

            

    

    

    1. FOR
      VALUE
      RECEIVED, GDC
      NAUGATUCK, INC.,
      a
      Delaware corporation ("Borrower"), hereby promises to pay to the order of
ATLAS
      PARTNERS MORTGAGE INVESTORS, LLC,
      a
      Delaware limited liability company ("Lender', the principal sum of Four Million,
      Five Hundred Thousand and No/100 Dollars ($4,500,000.00) at the place and in
      the
      manner hereinafter provided, together with interest thereon at the rates
      described below.

    

    2. Interest
      shall accrue on the principal balance of this Note outstanding from the date
      hereof through the Maturity Date (as hereinafter defined) at a per annum rate
      of
      interest (the "LIBOR Rate")
      equal
      to LIBOR (as hereinafter defined) for the relevant Interest Period (as
      hereinafter defined) plus six hundred (600) basis, points, such LIBOR Rate
      to
      remain fixed for such Interest Period. Any portion of the principal amount
      of
      this Note bearing interest at the LIBOR Rate is referred to herein as a
      "LIBOR
      Loan."

    

    3. As
      used
      herein, the term "LIBOR" shall mean a rate of interest equal to the per annum
      rate of interest at which United States dollar deposits for a one month period
      are offered in the London Interbank Eurodollar market at 11:00 a.m. (London
      time) two business days prior to the commencement of such month (or three
      business days prior to the commencement of such month if banks in London,
      England were not open and dealing in offshore United States dollars on such
      second preceding business day), as displayed in the Bloomberg
      Financial Markets
      system
      (or other authoritative source selected by Lender in its sole discretion).
      Lender's determination of LIBOR shall be conclusive, absent manifest error.
      The
      term "Interest Period" shall mean with regard to any LIBOR Loan, a thirty-day
      period.

    

    4. Interest
      shall be computed on the basis of a 360-day year, applied monthly to the actual
      number of days elapsed.

    

    5. Payments
      of principal and interest due under this Note, if not sooner declared to be
      due
      in accordance with the provisions hereof, shall be made as follows:

    

    (i) Commencing
      on August 1, 2007, and on the first day of each month thereafter through and
      including the Maturity Date, accrued and unpaid interest only on the outstanding
      principal balance of this Note shall be due and payable.

    

    (ii) There
      shall be no amortization of the principal of this Note prior to the Maturity
      Date (provided that, in the event of any prepayment under this Note, such
      prepayment may be applied to principal hereof to the extent provided by the
      terms of this Note). The unpaid principal balance of this Note, if not sooner
      declared to be due in accordance with the terms hereof, together with all
      accrued and unpaid interest thereon, shall be due and payable in full on the
      Maturity Date. The term "Maturity Date" shall mean July 31, 2009, provided
      that,
      if all of the following conditions are met, then the term "Maturity Date" shall
      mean July 31, 2010: (A) on or before June 30, 2009, Borrower shall have
      delivered to Lender a written request for extension of the Maturity Date of
      this
      Note, together with payment of an extension fee equal to Forty-Five Thousand
      and
      No/100 Dollars ($45,000.00), (B) no Event of Default shall exist at the time
      such request for extension is delivered or on July 31, 2009, and (C) on or
      before December 31, 2007, an agreement to sell the Real Estate and Improvements
      (as such terms are defined in the Mortgage securing this Note) for a price
      reasonably anticipated to result in cash net proceeds sufficient to repay in
      full this Note and all other obligations of Borrower to Lender under the Loan
      Documents (as hereafter defined) shall have been executed between Borrower
      and
      an unaffiliated third party and such agreement to sell (unless the sale
      contemplated therein has been consummated and the net proceeds thereof have
      been
      applied in accordance with the terms of the Loan Documents) shall remain in
      effect at the time such request for extension is delivered and on July 31,
      2009.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    

    6. Borrower
      shall pay interest on the outstanding principal balance of this Note at an
      annual rate (the "Default Rate") equal to the LIBOR Rate plus one thousand
      (1,000) basis points (i) from and after the Maturity Date, and (ii) from the
      date on which an Event of Default (as hereinafter defined) has occurred and
      for
      so long as such Event of Default shall continue, unless and until such Event
      of
      Default is waived by Lender, provided, however, in no event shall the Default
      Rate exceed the maximum rate permitted by law. The interest accruing under
      this
      paragraph shall be immediately due and payable by Borrower to the holder of
      this
      Note on demand and shall be additional indebtedness evidenced by this
      Note.

    

    7. In
      the
      event any payment of interest or principal due hereunder is not made in
      accordance with the terms hereof and such failure continues for five (5) days,
      then, in addition to the payment of the amount so due, Borrower shall pay to
      Lender a "late charge" equal to five percent (5%) of such late payment or
      $25.00, whichever is greater, up to the maximum amount of $1,500.00 per late
      charge to defray part of the cost of collection and handling such late payment.
      Borrower agrees that the damages to be sustained by the holder hereof for the
      detriment caused by any late payment is extremely difficult and impractical
      to
      ascertain, and that the amount of the late charge due is a reasonable estimate
      of such damages, does not constitute interest, and is not a
      penalty.

    

    8. Except
      as
      provided in this Section 8, Borrower may not prepay the principal balance of
      this Note, in whole or in part:

    

    
      	
            	(i)	
              On
                or prior to July 31, 2008, provided that Borrower shall have delivered
                to
                Lender not less than ten (10) days' prior notice of prepayment and
                so long
                as no Event of Default shall exist as of the date of such notice
                of
                prepayment or on the date of prepayment, Borrower may prepay the
                Note,
                without premium or penalty, (a} on the last day of any Interest Period,
                if
                the outstanding principal amount of this Note then is bearing interest
                at
                a LIBOR Rate, or (b) on the last business day of any month, if the
                outstanding principal amount of this Note then is bearing interest
                at the
                Prime Rate (as hereinafter defined), in either case solely in the
                event of
                a sale or condemnation of all or substantially all of the Real Estate,
                by
                application of the net proceeds of such sale or condemnation, provided
                however that each prepayment of the Note permitted under this Section
                8(i)
                shall be a prepayment in whole, but not in part, unless substitute
                collateral satisfactory to Lender in its sole discretion shall have
                been
                provided to secure this Note; and

            

    

    

    
      	 	
              (ii)

            	
              After
                July 31, 2008, provided that Borrower shall have delivered to Lender
                not
                less than ten (10) days' prior notice of prepayment and so long as
                no
                Event of Default shall exist as of the date of such notice or on
                the date
                of prepayment, Borrower may prepay the Note in whole or in part,
                without
                premium or penalty, (a) on the last day of any Interest Period, if
                the
                outstanding principal amount of this Note then is bearing interest
                at a
                LIBOR Rate, or (b) on the last business day of any month, if the
                outstanding principal amount of this Note then is bearing interest
                at the
                Prime Rate.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    Any
      prepayment of this Note shall be accompanied by the amount of interest accrued
      to the date of prepayment. In addition, if, for any reason, any portion of
      the
      principal balance is paid prior to the Maturity Date other than in strict
      accordance with clause (i) or (ii) of this Section 8, whether voluntary,
      involuntary, by reason of acceleration or otherwise, each such prepayment of
      the
      principal balance will be accompanied by any and all costs, expenses, penalties
      and charges, if any, incurred by Lender as a result of the early termination
      or
      breakage of the principal balance plus the amount, if any, without duplication,
      by which (i) the additional interest which would have been payable during the
      Interest Period, if the outstanding principal amount of this Note then is
      bearing interest at a LIBOR Rate, or month, if the outstanding principal amount
      of this Note then is bearing interest at the Prime Rate, on the principal
      balance prepaid had it not been prepaid, exceeds (ii) the interest which would
      have been recoverable by Lender by placing the amount prepaid on deposit in
      the
      domestic certificate of deposit market, the eurodollar deposit market, or other
      appropriate money market selected by Lender, for a period starting on the date
      on which it was prepaid and ending on the last day of the applicable Interest
      Period or month for such portion of the principal balance. The amount of any
      such cost, expense, penalty or charge payable by Borrower to Lender under this
      section shall be (x) determined in Lender's sole discretion based upon the
      assumption that Lender funded the principal amount hereof in the London
      Interbank Eurodollar market and using any reasonable attribution or averaging
      methods which Lender deems appropriate and practical, provided, however, that
      Lender is not obligated to accept a deposit in the London Interbank Eurodollar
      market in order to charge interest on the principal balance at the LIBOR Rate
      and (b) set forth in a written statement delivered by Lender to Borrower.
      Amounts repaid or prepaid under this Note cannot be reborrowed by
      Borrower.

    

    9. In
      consideration of Lender's agreement to make the loan evidenced by this Note
      (the
      "Loan"), no later than the date of funding of the Loan, Borrower shall pay
      to
      Lender (or its Affiliate, Atlas Partners, LLC), a non-refundable loan
      origination fee in the amount of Ninety Thousand and No/100 Dollars
      ($90,000.00).

    

    10. This
      Note
      is secured by the loan documents listed on Exhibit A attached hereto
      (collectively with this Note, the "Loan Documents"). Under the circumstances
      described in Section 8(i) of this Note and/or Section 14(a)(ii) of the Mortgage
      securing this Note, pursuant to the terms of the Loan Documents, substitute
      collateral satisfactory to Lender in its sole discretion may be provided to
      secure this Note. Reference is hereby made to the other Loan Documents {which
      are incorporated herein by reference as fully and with the same effect as if
      set
      forth herein at length) for a statement of the covenants and agreements
      contained therein, a statement of the rights, remedies, and security afforded
      thereby, and all matters therein contained.

    

    11. All
      payments and prepayments on account of the indebtedness evidenced by this Note
      shall be first applied to accrued and unpaid interest on the unpaid principal
      balance of this Note, second, to all other sums (other than principal) then
      due
      Lender hereunder or under the other Loan Documents, and the remainder, if any,
      to the unpaid principal balance of this Note. Any prepayment on account of
      the
      indebtedness evidenced by this Note shall not extend or postpone the due date
      or
      reduce the amount of any subsequent monthly installment of principal and
      interest due hereunder.

    

    12. All
      payments of principal and interest hereunder shall be paid by check or in coin
      or currency which, at the time or times of payment, is the legal tender for
      public and private debts in the United States of America and shall be made
      to
      Lender, c/o Cohen Financial, Two North LaSalle Street, Suite 800, Chicago,
      IIlinois 60602 (or such other place as Lender or the legal holder or holders
      of
      this Note subsequently may from time to time appoint). Payment made by check
      shall be deemed paid on the date Lender receives such check; provided, however,
      that if such check is subsequently returned to Lender unpaid due to insufficient
      funds or otherwise, the payment shall not be deemed to have been made and shall
      continue to bear interest until collected. If payment hereunder becomes due
      and
      payable on a Saturday, Sunday or legal holiday under the laws of the State
      of
      Connecticut, the due date thereof shall be extended to the next succeeding
      business day, and interest shall be payable thereon at the then applicable
      interest rate during such extension.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    13. The
      occurrence and continuance of any one or more of the following events shall
      constitute an "Event of Default" under this Note:

    

    (a) the
      failure by Borrower to pay to Lender (i) any installment of principal or
      interest within five (5) days after such installment is payable pursuant to
      the
      terms of this Note or any monthly deposit for Taxes within five (5) days after
      such deposit is payable pursuant to Section 4 of the Mortgage securing this
      Note, or (ii) any other amount payable to Lender under this Note or any other
      Loan Documents within thirty (30) days after the date of demand for such amount;
      or

    

    (b) the
      occurrence of any one or more of the "Events of Default" under any of the other
      Loan Documents.

    

    14. At
      the
      election of the holder hereof, (i) without notice (unless required by applicable
      law), upon the occurrence and during the continuance of any Event of Default
      under Section 16(d) or (e) of the Mortgage securing this Note, or (ii) upon
      notice, upon the occurrence and during the continuance of any other Event of
      Default hereunder, the principal balance remaining unpaid under this Note,
      and
      all unpaid interest accrued thereon, shall be and become immediately due and
      payable in full. Failure to exercise this option shall not constitute a waiver
      of the right to exercise same in the event of any subsequent Event of Default.
      No holder hereof shall, by any act of omission or commission, be deemed to
      waive
      any of its rights, remedies or powers hereunder or otherwise unless such waiver
      is in writing and signed by the holder hereof, and then only to the extent
      specifically set forth therein. The rights, remedies and powers of the holder
      hereof, as provided in this Note and in the other Loan Documents are cumulative
      and concurrent, and may be pursued singly, successively or together against
      Borrower and any other security given at any time to secure the repayment
      hereof, all at the sole discretion of the holder hereof. If any suit or action
      is instituted or attorneys are employed to collect this Note or any part
      thereof, Borrower promises and agrees to pay all costs of collection, including
      reasonable attorneys' fees and court costs.

    

    15. Intentionally
      omitted.

    

    16. Borrower
      hereby (i) waives presentment and demand for payment, notices of nonpayment
      and
      of dishonor, protest of dishonor, and notice of protest; and (ii) waives any
      and
      all lack of diligence and delays in the enforcement of the payment
      hereof.

     

    
      
        
        

      

      
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    17. Borrower
      agrees that the obligation evidenced by this Note is an exempted transaction
      under the Truth In Lending Act, 15 U.S.C., Section 1601, et seq.

    

    18. Intentionally
      omitted.

    

    19. This
      Note
      is governed and controlled as to validity, enforcement, interpretation,
      construction, effect and in all other respects by the statutes, laws and
      decisions of the State of Connecticut.

    

    20. This
      Note
      may not be changed or amended orally but only by an instrument in writing signed
      by the party against whom enforcement of the change or amendment is
      sought.

    

    21. The
      obligations and liabilities of Borrower under this Note shall be binding upon
      and enforceable against Borrower and Borrower's successors and assigns. This
      Note shall inure to the benefit of and may be enforced by Lender and its
      successors and assigns.

    

    22. In
      the
      event one or more of the provisions contained in this Note shall for any reason
      be held to be invalid, illegal or unenforceable in any respect by a court of
      competent jurisdiction, such invalidity, illegality or unenforceability shall
      not affect any other provision of this Note, and this Note shall be construed
      as
      if such invalid, illegal or unenforceable provision had never been contained
      herein. Lender shall not collect a rate of interest on the principal balance
      under this Note in excess of the maximum contract rate of interest permitted
      by
      applicable law. All interest found in excess of that rate of interest allowed
      and collected by Lender shall be applied to the principal balance in such manner
      as to prevent the payment and collection of interest in excess of the rate
      permitted by applicable law.

    

    23. EACH
      OF
      BORROWER AND, BY ITS ACCEPTANCE HEREOF, LENDER, HEREBY AGREES THAT ALL ACTIONS
      OR PROCEEDINGS INITIATED BY BORROWER OR LENDER AND ARISING DIRECTLY OR
      INDIRECTLY OUT OF THIS NOTE OR ANY OF THE OTHER LOAN DOCUMENTS SHALL BE
      LITIGATED IIV NEW HAVEN COUNTY, CONNECTICUT OR ANY UNITED STATES DISTRICT COURT
      IN THE STATE OF CONNECTICUT WHICH HAS JURISDICTION THEREOF. EACH OF BORROWER
      AND, BY ITS ACCEPTANCE HEREOF, LENDER HEREBY EXPRESSLY SUBMITS AND CONSENTS
      IN
      ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR PROCEEDING COMMENCED BY LENDER
      OR
      BORROWER IN ANY OF SUCH COURTS, AND HEREBY WANES PERSONAL SERVICE OF THE SUMMONS
      AND COMPLAINT, OR OTHER PROCESS OR PAPERS ISSUED THEREIN, AND AGREES THAT
      SERVICE OF SUCH SUMMONS AND COMPLAINT OR OTHER PROCESS OR PAPERS MAY BE MADE
      BY
      REGISTERED OR CERTIFIED MAIL ADDRESSED TO IT AT THE ADDRESS TO WHICH NOTICES
      ARE
      TO BE SENT PURSUANT TO THE MORTGAGE WHICH SECURES THIS NOTE. EACH OF BORROWER
      AND, BY ITS ACCEPTANCE HEREOF, LENDER WAIVES ANY CLAIM THAT NEW HAVEN,
      CONNECTICUT OR ANY UNITED STATED DISTRICT COURT IN THE STATE OF CONNECTICUT
      IS
      AN INCONVENIENT FORUM OR AN IMPROPER FORUM BASED ON LACK OF VENUE. SHOULD A
      PARTY, AFTER BEING SO SERVED, FAIL TO APPEAR OR ANSWER TO ANY SUMMONS,
      COMPLAINT, PROCESS OR PAPERS SO SERVED WITHIN THE NUMBER OF DAYS PRESCRIBED
      BY
      LAW AFTER THE MAILING THEREOF, SUCH PARTY SHALL BE DEEMED IN DEFAULT AND AN
      ORDER AND/OR JUDGMENT MAY BE ENTERED AGAINST IT AS DEMANDED OR PRAYED FOR IN
      SUCH SUMMONS, COMPLAINT, PROCESS OR PAPERS. THE EXCLUSIVE CHOICE OF FORUM SET
      FORTH IN THIS SECTION SHALL NOT BE DEEMED TO PRECLUDE THE ENFORCEMENT OF ANY
      JUDGMENT OBTAINED IN ANY OTHER FORUM OR THE TAKING OF ANY ACTION TO ENFORCE
      THE
      SAME IN ANY OTHER APPROPRIATE JURISDICTION, AND EACH OF BORROWER AND, BY ITS
      ACCEPTANCE HEREOF, LENDER HEREBY WAIVES THE RIGHT, IF ANY, TO COLLATERALLY
      ATTACK ANY SUCH JUDGMENT OR ACTION.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    

    24. EACH
      OF
      BORROWER AND, BY ITS ACCEPTANCE HEREOF, LENDER ACKNOWLEDGE AND AGREE THAT ANY
      CONTROVERSY WHICH MAY ARISE UNDER THIS NOTE OR THE OTHER LOAN DOCUMENTS OR
      WITH
      RESPECT TO THE TRANSACTIONS CONTEMPLATED HEREIN AND THEREIN WOULD BE BASED
      UPON
      DIFFICULT AND COMPLEX ISSUES AND THEREFORE, THE PARTIES AGREE THAT ANY COURT
      PROCEEDING ARISING OUT OF ANY SUCH CONTROVERSY WILL BE 'TRIED IN A COURT OF
      COMPETENT JURISDICTION BY A JUDGE SITTING WITHOUT A JURY.

    

    25. If
      Lender
      determines in good faith (which determination shall be conclusive, absent
      manifest error) prior to the commencement of any month that (i) the maintenance
      of any portion of the outstanding principal amount under this Note would violate
      any applicable law, rule, regulation or directive, whether or not having the
      force of law, (ii) by reason of circumstances affecting the London Interbank
      Eurodollar market, adequate and fair means do not exist for ascertaining the
      LIBOR Rate to beapplicable to the principal balance, or (iii) the LIBOR Rate
      does not accurately reflect the cost to Lender of the principal hereunder,
      all
      outstanding amounts due hereunder shall be converted to a loan bearing interest
      at the Prime Rate (as hereinafter defined) on the last business day of the
      then
      current month. The term "Prime Rate" shall mean the product of (a) the floating
      per annum rate of interest which at any time, and from time to time, shall
      be
      most recently announced by Lender's Bank (as hereafter defined) as its Prime
      Rate times (b) one hundred forty percent (140%). The effective date of any
      change in the Prime Rate shall for purposes hereof be the date the Prime Rate
      is
      changed by such bank. Lender shall not be obligated to give notice of any change
      in the Prime Rate.

    

    26. If,
      after
      the date hereof, a Regulatory Change (hereinafter defined) shall, in the
reasonable
      determination of Lender, make it unlawful for Lender (or Lender's Bank) to
      maintain any portion of the outstanding principal amount under this Note as
      a
      loan bearing interest at the LIBOR Rate, no portion of the outstanding principal
      amount under this Note shall accrue interest at the LIBOR Rate thereafter.
      In
      addition, the outstanding principal amount under this Note shall be immediately
      converted to a loan accruing interest at the Prime Rate on the last business
      day
      of the then existing month or on such earlier date as required by law, without
      further demand, presentment, protest or notice of any kind, all of which are
      hereby waived by Borrower. The term "Regulatory Change" shall mean the
      introduction of, or any
      change in any applicable law, treaty, rule, regulation or guideline or in the
      interpretation or administration thereof by any governmental authority or any
      central bank or other fiscal, monetary or other authority having jurisdiction
      over Lender (or Lender's Bank). The term "Lender's Bank" shall mean JPMorgan
      Chase Bank National Association, its successors and assigns.

    

    27. If,
      solely as a result of the fact that the outstanding principal amount of this
      Note then bears
      interest at the LIBOR Rate (rather than the Prime Rate), any Regulatory Change,
      or compliance by Lender or Lender's Bank with any request or directive of any
      governmental authority, central bank or comparable agency (whether or not having
      the force of law) shall (a) impose, modify or deem applicable any assessment,
      reserve, special deposit or similar requirement against assets held by, or
      deposits in or for the account of, or loans by, or any other acquisition of
      funds or disbursements by, Lender or Lender's Bank; (b) subject Lender or
      Lender's Bank or any amount advanced under this Note to any tax, duty, charge,
      stamp tax or fee or change the basis of taxation of payments to Lender or
      Lender's Bank of principal or interest due from Borrower to Lender hereunder
      (other than a change in the taxation of the overall net income of Lender or
      Lender's Bank); or (c) impose on Lender or Lender's Bank any other condition
      regarding such advance or Lender's funding thereof, and Lender shall determine
      (which determination shall be conclusive, absent manifest error) that (i) the
      result of the foregoing is to increase the cost to, or to impose a cost on,
      Lender of making or maintaining the amounts advanced hereunder or to reduce
      the
      amount of principal or interest received by Lender hereunder, and (ii) as a
      result, Lender is unwilling to make or continue such amounts advanced hereunder
      at the LIBOR Rate unless Lender were to be reimbursed by Borrower the amount
      of
      such increased or imposed cost or reduction of principal or interest, as
      applicable, then Lender shall promptly notify Borrower thereof (which notice
      shall be accompanied by a statement setting forth the basis for such
      determination and a calculation of the amount of such increase or reduction,
      as
      applicable, in reasonable detail (which calculation shall be conclusive, absent
      manifest error)) and, so long as the foregoing conditions shall continue, no
      portion of the outstanding principal amount of this Note shall bear interest
      at
      the LIBOR Rate, but instead, all outstanding amounts hereunder shall be
      converted to a loan bearing interest at the Prime Rate on the last business
      day
      of the then current month or such earlier date as required by law, without
      further demand, presentment, protest or notice of any kind, all of which are
      hereby waived by Borrower.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    

    28. Lender
      has collaterally assigned its rights in this Note and all Loan Documents to
      Lender's
      Bank. Lender's Bank may file a Uniform Commercial Code statement in the office
      of the Secretary of State of the State of Delaware identifying Lender's Bank's
      interest in Lender's rights in this Note and all Loan Documents. Lender may
      be
      required by Lender's Bank to deliver to Lender's Bank the executed original
      of
      each document evidencing or securing the Loan, and until so delivered, such
      documents shall be held by Lender in trust for Lender's Bank.

    

    29. In
      the
      event that Lender, based on the age or other factors relating to an
      environmental report for the Real Estate or Improvements reasonably determines
      that an updated environmental report should be obtained with respect to the
      Real
      Estate or Improvements, Lender shall notify Borrower, and the costs of such
      updated environmental report shall be borne by Borrower. In the event that
      the
      new environmental report shows any material reduction in value of the Real
      Estate or Improvements, Borrower shall, at the sole election of Borrower, not
      later than six (6) months after the date of such environmental report, (i)
      make
      a principal reduction payment in an amount equal to the diminution in value
      identified by such environmental report or (ii) deposit with Lender the
      reasonably anticipated costs estimated by the environmental professional
      authoring the environmental report or other appropriate person necessary to
      remediate the conditions disclosed by such environmental report.

    

    30. This
      Mortgage Note and the other Loan Documents are corporate obligations of Borrower
      and/or of General DataComm Industries, Inc. ("Guarantor"), as applicable, and
      no
      recourse may be had hereunder or thereunder against any officer, director or
      stockholder of Borrower or Guarantor.

    above.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF, Borrower has executed this Note as of the day and year first
      written

     

    
      	 	 	 
	 	
              GDC
                NAUGATUCK, INC., a Delaware corporation

            
	 
 	 
 	 
 
	
            	By:  	
            
	 	 	
              

            
	 	Name:	 
	 	 	
              

            
	 	Title:	 
	 	
              

            

    

     

    
      
        
        

      

      
        8Exhibit 10(O)

                              COMPUDYNE CORPORATION

                          EMPLOYEE STOCK PURCHASE PLAN

<PAGE>

                                TABLE OF CONTENTS
                                -----------------

                                    ARTICLE 1
                                     PURPOSE
                                     -------

1.1   PURPOSE OF PLAN .........................................................1

                                    ARTICLE 2
                                   DEFINITIONS
                                   -----------

2.1   ACCOUNT .................................................................1
2.2   BOARD ...................................................................1
2.3   CODE ....................................................................1
2.4   COMPANY .................................................................1
2.5   COMPENSATION ............................................................1
2.6   EFFECTIVE DATE ..........................................................1
2.7   EMPLOYEE ................................................................1
2.8   EMPLOYEES' AGENT ........................................................1
2.9   EMPLOYER ................................................................1
2.10  PARTICIPANT .............................................................1
2.11  PLAN ....................................................................1
2.12  PURCHASE ................................................................1
2.13  PURCHASE PRICE ..........................................................2
2.14  SHARES or STOCK .........................................................2
2.15  SUBSIDIARY/IES ..........................................................2

                                    ARTICLE 3
                           ADMINISTRATION OF THE PLAN
                           --------------------------

3.1   BY THE COMPANY ..........................................................2

                                    ARTICLE 4
                      EMPLOYEES ELIGIBLE TO PURCHASE STOCK
                      ------------------------------------

4.1   ELIGIBILITY .............................................................2

                                    ARTICLE 5
                                      STOCK
                                      -----

5.1   STOCK MAXIMUM ...........................................................2

                                    ARTICLE 6
         PURCHASES; AUTHORIZATION OF PAYROLL DEDUCTIONS BY PARTICIPANTS
         --------------------------------------------------------------

6.1   PURCHASES ...............................................................3
6.2   PAYROLL DEDUCTIONS ..................................................... 3
6.3   COMPANY CONTRIBUTIONS ...................................................3

                                    ARTICLE 7
                        TERMS AND CONDITIONS OF PURCHASES
                        ---------------------------------

7.1   TERMS AND CONDITIONS ....................................................4

                                    ARTICLE 8
                      WITHDRAWALS FROM PARTICIPANT ACCOUNTS
                      -------------------------------------

8.1   REVOCATION ..............................................................5

<PAGE>

8.2   CERTIFICATE REQUESTS; HOLDING PERIOD; DIRECTIONS TO SELL; TRANSACTIONAL .5
8.3   TERMINATION OF EMPLOYMENT ...............................................5
8.4   TERMINATION OF EMPLOYMENT DUE TO DEATH ..................................6

                                    ARTICLE 9
          RECAPITALIZATION, REORGANIZATION OR CHANGE IN CAPITALIZATION
          ------------------------------------------------------------

9.1   COMPANY'S DISCRETION ....................................................6
9.2   CORPORATE TRANSACTIONS ..................................................6

                                   ARTICLE 10
                      AMENDMENT OR TERMINATION OF THE PLAN
                      ------------------------------------

10.1  AMENDMENT OR TERMINATION ................................................6

                                   ARTICLE 11
                            MISCELLANEOUS PROVISIONS

11.1  NON-TRANSFERABILITY .................................................... 7
11.2  NO EMPLOYMENT RIGHT .................................................... 7
11.3  TAX WITHHOLDING .........................................................7
11.4  GOVERNMENT AND OTHER REGULATIONS ........................................7
11.5  INDEMNIFICATION .........................................................7
11.6  RELIANCE ON REPORTS .....................................................8
11.7  GOVERNING LAW ...........................................................8
11.8  RELATIONSHIP TO OTHER BENEFITS ..........................................8
11.9  EXPENSES ................................................................8
11.10 TITLES AND HEADINGS .....................................................8
11.11 NON-EXCLUSIVITY OF PLAN .................................................8
11.12 DESIGNATION OF BENEFICIARY ..............................................8
11.13 USE OF FUNDS ............................................................8
11.14 EFFECT OF PLAN ..........................................................9

<PAGE>

COMPUDYNE CORPORATION
                          EMPLOYEE STOCK PURCHASE PLAN

                                    ARTICLE 1
                                     PURPOSE
                                     -------

         1.1 PURPOSE OF PLAN. This Employee Stock Purchase Plan is intended to
encourage employees of CompuDyne Corporation (the "Company") and its
subsidiaries to remain in the employ of the Company and to participate in its
growth by permitting them to purchase shares of Company common stock. Such
purchases shall be made from funds accumulated through payroll deductions and
Company contributions.

                                    ARTICLE 2
                                   DEFINITIONS
                                   -----------

         2.1 ACCOUNT. means the account established and maintained for each
Participant under the Plan, which in turn shall be comprised of two
sub-accounts: the Stock Account established and maintained by the Employees'
Agent to hold Shares of Stock acquired pursuant to the Plan, and the Withholding
Account, established and maintained by the Employees' Agent and which is to be
credited with cash deposited by the Employer and awaiting investment in Shares
of Stock.

         2.2      BOARD. means the Board of Directors of the Company.

         2.3      CODE. means the Internal Revenue Code of 1986, as amended.

         2.4      COMPANY. means CompuDyne Corporation and its successors.

         2.5      COMPENSATION.  means W-2 wages  which,  but for an  election
under this Plan,  would be payable in cash to the Participant by the Company.

         2.6      EFFECTIVE  DATE.  means  the  first  day of the first  payroll
period  beginning  after October 1, 1999.

         2.7      EMPLOYEE.  means any  employee of an Employer  who is at least
eighteen  (18) years old and whose customary employment is at least thirty (30)
hours per week.

         2.8 EMPLOYEES' AGENT means the registered broker-dealer designated by
the Company to purchase stock pursuant to the terms of the Plan and establish
and maintain individual Participants' Accounts.

         2.8      EMPLOYER. means the Company and its Subsidiaries.

         2.9      PARTICIPANT.  means any  Employee  who  participates  in the
Plan as provided in Article 6.  A Participant shall continue to be a Participant
as long as he or she has a Withholding Account.

         2.10     PLAN.  means the  CompuDyne  Corporation  Employee  Stock
Purchase  Plan, as herein set forth, and as amended from time to time.

         2.11     PURCHASE.  means any purchase of Shares of Stock made in
accordance  with the terms and conditions of the Plan.

         2.12     PURCHASE  PRICE.  means the price per Share at which  Stock
may be  purchased  under the Plan, as determined by the Company in accordance
with Section 7.1(a).

         2.13     SHARES or STOCK.  means  shares of the common  stock,  par
value $.75 per share,  of the Company.

         2.14 SUBSIDIARY/IES. means any entity bearing a relationship to the
Company that is described in section 424(f) of the Code and designated as a
participating Employer in the Plan by the Company. All entities bearing such a
relationship as of the Effective Date shall be deemed Subsidiaries hereunder.

<PAGE>

                                    ARTICLE 3
                           ADMINISTRATION OF THE PLAN
                           --------------------------

         3.1 BY THE COMPANY. The Plan shall be administered by the Company,
which shall have full power and authority to: (i) interpret and administer the
Plan and any instrument or agreement entered into under the Plan; (ii) establish
such rules and regulations and appoint such agents as it shall deem appropriate
for the proper administration of the Plan; and (iii) make any other
determination and take any other action that the Company deems necessary or
desirable for administration of the Plan. Decisions of the Company shall be
final, conclusive and binding upon all persons, including any Participant and
any other employee of the Company.

                                    ARTICLE 4
                      EMPLOYEES ELIGIBLE TO PURCHASE STOCK
                      ------------------------------------

         4.1 ELIGIBILITY. All Employees of the Company, including employees who
are members of a collective bargaining unit covered under a collective
bargaining agreement, who are regularly scheduled to work at least thirty (30)
hours per week shall be eligible to Purchase Stock under the Plan as of the
first day of the month after completing such eligibility requirements.

                                    ARTICLE 5
                                      STOCK
                                      -----

         5.1 STOCK MAXIMUM; STOCK. The maximum number of Shares of Stock which
may be Purchased under the Plan is 100,000 Shares, subject, however, to
adjustment as hereinafter provided. The Company shall purchase, on the open
market, the number of Shares of Stock to be Purchased under the Plan. The
Company may, in its discretion, make available previously authorized but
unissued stock for Purchase under the Plan.

                                    ARTICLE 6
         PURCHASES; AUTHORIZATION OF PAYROLL DEDUCTIONS BY PARTICIPANTS
         --------------------------------------------------------------

         6.1 PURCHASES. Unless otherwise specified by the Company, there shall
be 12 Purchase dates under the Plan during each twelve (12) month calendar year
during which this Plan is in effect and, unless otherwise specified by the
Company, the day of Purchase shall be one day in each calendar month determined
by the Company to be practicable for the Company to effect Purchase elections.

         6.2 PAYROLL DEDUCTIONS. Each Employee shall become a Participant
pursuant to the terms of the Plan by filing an election to participate in the
Plan in the form of a payroll deduction authorization (in the manner prescribed
by the Company) on or prior to the fifteenth (15th) day preceding the month in
which the Employee becomes eligible to participate in the Plan. The election
shall specify a whole dollar amount, up to one hundred dollars ($100) per week
of Compensation which the Employee wishes to apply to the Purchase for each
payroll period until the Employee properly revokes or changes his or her
election, subject to the limitations contained in Sections 4.1 and 7.1(b).
Contributions by Employees shall be made through payroll deduction. The election
shall be adjusted to conform to each Employee's payroll period pursuant to the
following schedule:
<TABLE>
<CAPTION>
<S>     <C>                                                  <C>

         If an Employee's normal pay period is:               The Employee's maximum contribution
         -------------------------------------                -----------------------------------
                                                                       per pay period is:
                                                                       ------------------

                  Weekly
                                                                                $100
                  Bi-Weekly
                                                                                $200
                  Semi-Monthly
                                                                                $216
</TABLE>

Payroll deductions (a) shall commence with the first regular payroll period
after the Company accepts a properly filed Employee payroll deduction election
and (b) shall end on the last day of the last regular payroll period in which
the Employee elects in writing to cease participation, or, if earlier, on the
last day of the last regular payroll period prior to the termination of the
Participant's employment with the Employer. An Employee may revoke his or her
election at any time; however, in such case, the Employee must wait six (6)
months after revocation to re-enter the Plan, as if he or she were a new
Employee on the date of any such revocation. If the Participant's termination of
employment or revocation election occurs on or within a time prior to the last
day of the payroll period in which it is not reasonably practicable for the
Company to render ineffective the Participant's Purchase election existing at
the time of the employment termination or revocation and the Company or its
designee implements the Purchase election, the Company will have the right in
its sole and absolute discretion to disregard the Purchase and instead pay to
the Participant the Compensation reduction amount or to treat the Purchase as
having occurred in accordance with the terms of the existing Purchase election.

<PAGE>

         6.3 COMPANY CONTRIBUTIONS. In addition to payroll deductions, a Company
contribution equal to fifteen (15%) of a Participant's payroll deductions shall
be made by the Company for each Participant eligible for the contribution. Such
contribution shall be made as frequently as the Company may determine.

                                    ARTICLE 7
                        TERMS AND CONDITIONS OF PURCHASES
                        ---------------------------------

         7.1      TERMS AND CONDITIONS.  Except as provided in  subparagraph
(b) of this Section 7.1, all Participants shall have the same rights and
privileges, as specified below:

                  (a) Purchase Price: The Purchase Price shall be one hundred
percent (100%) of the average price at which Stock is purchased under the Plan
for all Participants on the exchange on which the Stock is Purchased, without
regard to transactional costs.

                   (b) Transferability of Plan Participation: Plan participation
shall not be transferable by the Participant other than by will or the laws of
descent and distribution during the Participant's lifetime, and Purchases may be
made hereunder only on behalf of the Participant.

                  (c) Purchases: Purchases of Shares on behalf of any
Participant shall be made with funds accumulated in the Participant's
Withholding Account through Company contributions and payroll deductions from
the Participant's Compensation, under rules of uniform application. Cash
remaining in a Participant's Withholding Account representing fractional Shares
shall be accumulated and added to the next payroll period elective amounts and
used in such next payroll period to Purchase Stock if the Participant is, at the
end of the next payroll period, employed as an Employee and has not revoked his
or her Purchase election or, if he or she is not then an Employee or has timely
revoked his or her Purchase election, the amount shall be paid to the
Participant in cash as soon as practicable following the date he or she ceases
to be an Employee.

                  (d) Other Provisions: Each Purchase may contain such other
provisions as the Company shall deem advisable, including restrictions on resale
of Stock, provided that no such provisions may in any way conflict, or be
inconsistent with, the terms of the Plan as amended from time to time.

                  (e) Requirements of Law: The issuance of any Stock hereunder
is conditioned upon registration of the Stock to be issued under applicable
federal and state securities laws and its listing on any applicable stock
exchange. In no event shall any stock be issued hereunder prior to the effective
date of any such registration or listing application.

                  (f) Issuance of Shares: The Shares of Stock purchased by each
Participant may be issued in the name of the Participant and may be considered
to be issued and outstanding to his or her credit as of the close of business on
the day of each Purchase. Shares Purchased by each Participant shall be credited
to that individual's Stock Account as soon as practicable after each Purchase.

                  (g) Account Balances: No interest shall accrue at any time on
any amount credited to the Account of a Participant. As transactions occur which
affect a Participant's Stock Account, a report shall be sent to each Participant
by the Employees' Agent stating the entries made to his or her Account, the
number of Shares purchased and the applicable Purchase Price.

                  (h) Participant Rights: A Participant will possess all the
rights and privileges of a stockholder with respect to all of the Shares held in
his or her Stock Account under the Plan, including the right to vote such
Shares, and will receive all dividends, distributions and stockholder
communications with respect to such Shares.

                                    ARTICLE 8
                      WITHDRAWALS FROM PARTICIPANT ACCOUNTS
                      -------------------------------------

         8.1 REVOCATION. Except for any officer of the Company who is subject to
the reporting requirements of section 16(a) of the Securities Exchange Act of
1934, as amended (an "Insider"), Participants may cease participation in the
Plan at any time and withdraw all cash amounts in their Withholding Accounts
upon written notice to the Company. Such withdrawal shall serve to cancel the
Participant's Plan participation. Partial cash withdrawals shall not be
permitted. Cash withdrawal requests shall be made in such form and under such
conditions as may be specified from time to time by the Company. Insiders may
not make cash withdrawals for so long as they remain Insiders. A Participant who
ceases participation in the Plan may subsequently re-enter the Plan upon the
expiration of six (6) months from the date the Participant originally ceased
participating in the Plan.

<PAGE>

         8.2 CERTIFICATE REQUESTS; DIRECTIONS TO SELL; TRANSACTIONAL EXPENSES. A
Participant may request delivery of a stock certificate representing all or any
portion of the Shares (in any whole number of Shares) held in his or her Stock
Account. A Participant shall be entitled to direct the Employees' Agent to sell
on the Participant's behalf any or all Shares in the Participant's Stock Account
at any time and the Employees' Agent shall honor such requests, subject to
reasonable restrictions on frequency of such sale directions as might be imposed
by the Employees' Agent. Notwithstanding the foregoing, a Participant who
directs the Employees' Agent to sell Shares on the Participant's behalf twice in
one calendar year shall be prohibited from making contributions to the Plan for
a period of six (6) months For purposes of the preceding, a distribution of a
stock certificate to a Participant at the Participant's request shall be treated
as a sale. In honoring directions to sell, the Employees' Agent may, at its
discretion, exchange Shares of those Participants who direct sales with those
Participants who direct Purchases utilizing for such purpose the Purchase Price
established under Section 7.1(a). All transactional expenses in respect of sales
of Shares held under the Plan shall be borne by the Participant. The Company
shall be entitled, in its discretion, to distribute any Shares held under the
Plan to a Participant at any time. Any Share which has been distributed by the
Company to a Participant or former Participant or to any individual on behalf of
a Participant or former Participant, or a sale of a Share or Shares by a
Participant shall terminate any such Share's coverage under this Plan for all
purposes, including, but not limited to, the Company's payment of any
administrative or transactional expenses with respect to such Shares.

         8.3 TERMINATION OF EMPLOYMENT. Upon termination of a Participant's
employment with the Employer for any reason, whether voluntary or involuntary,
the Participant's participation in the Plan shall immediately terminate. Subject
to Section 6.2, as soon thereafter as is practicable, the Participant may elect
to maintain the Shares in his or her Stock Account or the Participant may
receive the following: (i) a Stock certificate for all whole Shares held in the
Stock Account; and (ii) cash representing any balance remaining in the
Withholding Account. Any Shares held in the Participant's Stock Account shall
remain in the Stock Account until the former Participant's death or until a sale
of such Shares is directed by the former Participant and, at the Company's
discretion as to the frequency and timing of distributions, certificates for
such Shares shall be issued to the former Participant or his or her death
beneficiary, as defined in Section 11.13, as applicable.

         8.4 TERMINATION OF EMPLOYMENT DUE TO DEATH. Upon termination of the
Participant's employment because of his or her death, the Participant's
beneficiary, as defined in Section 11.13, shall receive all the contributions
credited to the Participant's Withholding Account as of the date of death and
all Stock in the Participant's Stock Account on the date of death.

                                    ARTICLE 9
          RECAPITALIZATION, REORGANIZATION OR CHANGE IN CAPITALIZATION
          ------------------------------------------------------------

         9.1 COMPANY'S DISCRETION. The Plan shall not affect in any way the
Company's right or power to make adjustments, reclassifications,
reorganizations, or changes of its capital or business or to merge, consolidate,
dissolve, liquidate, sell or transfer all or any part of its business or assets.
The Company shall have the discretion to adjust the number of Shares available
hereunder to reflect stock splits, stock dividends, mergers and other changes in
the capitalization of the Company.

         9.2 CORPORATE TRANSACTIONS. Upon the dissolution or liquidation of the
Company, or upon a reorganization, merger or consolidation of the Company with
one or more corporations as a result of which the Company is not the surviving
corporation, or upon a sale of substantially all of the property or stock of the
Company to another corporation, each Participant shall receive with respect to
each Share held in his or her Stock Account, as nearly as reasonably may be
determined, the cash, securities and/or property which a holder of one Share of
Stock was entitled to receive upon and at the time of such transaction. The
Company shall take such steps in connection with such transactions as the
Company shall deem necessary to assure that the provisions of this Section shall
thereafter be applicable, as nearly as reasonably may be determined, in relation
to the said cash, securities and/or property as to which such Participant might
thereafter be entitled to receive.

<PAGE>

                                   ARTICLE 10
                      AMENDMENT OR TERMINATION OF THE PLAN
                      ------------------------------------

         10.1     AMENDMENT  OR  TERMINATION.  The Board may suspend or
terminate  the Plan,  reconstitute the Plan in whole or in part, or amend or
revise the Plan in any respect whatsoever.

                                   ARTICLE 11
                            MISCELLANEOUS PROVISIONS
                            ------------------------

         11.1 NON-TRANSFERABILITY. Except by the laws of descent and
distribution, no benefit provided hereunder shall be subject to alienation,
assignment or transfer by a Participant (or by any person entitled to such
benefit pursuant to the terms of this Plan), nor shall it be subject to
attachment or other legal process of whatever nature, and any attempted
alienation, assignment, attachment or transfer shall be void and of no effect
whatsoever and, upon any such attempt, the benefit shall terminate and be of no
force or effect. During a Participant's lifetime, Purchases may be made only by
the Participant. Shares shall be delivered only into the hands of the
Participant or death beneficiary entitled to receive the same or into the hands
of the Participant's authorized legal representative.

         11.2 NO EMPLOYMENT RIGHT. Neither this Plan nor any action taken
hereunder shall be construed as giving any right to any individual to be
retained as an officer or employee of the Company.

         11.3 TAX WITHHOLDING. The Company shall have the right to deduct from
all payments hereunder any federal, state, local or employment taxes which it
deems are required by law to be withheld with respect to such payments.

         11.4 GOVERNMENT AND OTHER REGULATIONS. The obligation of the Company to
deliver Shares or make cash payments hereunder shall be subject to all
applicable laws, rules and regulations, and to such approvals by any government
agencies as may be deemed necessary or appropriate by the Company. If Shares
deliverable hereunder may in certain circumstances be exempt from registration
under the Securities Act of 1933, the Company may restrict its transfer in such
manner as it deems advisable to ensure such exempt status. The Plan is intended
to comply with Rule 16b-3 under the Securities Exchange Act of 1934, as amended.
Any provision inconsistent with such Rule shall be inoperative and shall not
affect the validity of the Plan. The Plan shall be subject to any provision
necessary to assure compliance with federal and state securities laws.

         11.5 INDEMNIFICATION. Each person who is or at any time serves as a
member of the Board or as an officer of the Company acting for the Company in
respect of the Plan shall be indemnified and held harmless by the Company
against and from (i) any loss, cost, liability or expense that may be imposed
upon or reasonably incurred by such person in connection with or resulting from
any claim, action, suit or proceeding to which such person may be a party or in
which such person may be involved by reason of any action or failure to act
under this Plan; and (ii) any and all amounts paid by such person in
satisfaction of judgment in any such action, suit or proceeding relating to this
Plan. Each person covered by this indemnification shall give the Company an
opportunity, at its own expense, to handle and defend the same before such
person undertakes to handle and defend the same on such person's own behalf. The
foregoing right of indemnification shall not be exclusive of any other rights of
indemnification to which such persons may be entitled under the charter or
by-laws of the Company, as a matter of law, or otherwise, or any power that the
Company may have to indemnify such person or hold such person harmless.

         11.6 RELIANCE ON REPORTS. Each member of the Board and each officer of
the Company acting for the Company in respect of the Plan shall be fully
justified in relying or acting in good faith upon any report made by the
independent public accountants of the Company, and upon any other information
furnished in connection with this Plan. In no event shall any person who is or
shall have been a member of the Board or an officer of the Company acting for
the Company in respect of the Plan be liable for any determination made or other
action taken or any omission to act in reliance upon any such report or
information, or for any action taken, including the furnishing of information,
or failure to act, if in good faith.

         11.7 GOVERNING LAW. All matters relating to this Plan shall be governed
by the laws of the State of Maryland, without regard to the principles of
conflict of laws thereof, except to the extent preempted by the laws of the
United States.

         11.8 RELATIONSHIP TO OTHER. No payment under this Plan shall be taken
into account in determining any benefits under any pension, retirement, profit
sharing or group insurance plan of the Company.

<PAGE>

         11.9 EXPENSES. The expenses of implementing and administering this Plan
shall be borne by the Company, however a Participant shall bear all costs
(whether, administrative, transactional or otherwise) associated with the sale
or other disposition of shares held under the Plan.

         11.10 TITLES AND HEADINGS. The titles and headings of the Articles and
Sections in this Plan are for convenience of reference only, and in the event of
any conflict, the text of this Plan, rather than such titles or headings, shall
control.

         11.11 NON-EXCLUSIVITY OF PLAN. The adoption of the Plan by the Board
shall not be construed as creating any limitations on the power of the Board to
adopt such other incentive arrangements as it may deem desirable, including,
without limitation, the granting of stock options otherwise than under the Plan,
and such arrangements may be either applicable generally or only in specific
cases.

         11.12 DESIGNATION OF BENEFICIARY. A Participant may file a written
designation of a beneficiary who is to receive any Stock and/or cash. Such
designation of a beneficiary may be changed by the Participant at any time. Upon
the death of a Participant, the Company shall deliver such Stock and/or cash to
such beneficiary. In the event of the death of a Participant and in the absence
of a beneficiary validly designated under the Plan, the Company shall deliver
such Stock and/or cash to the executor or administrator of the estate, or if no
such executor or administrator has been appointed (to the knowledge of the
Company), the Company, in its discretion, may deliver such Stock and/or cash to
the spouse or to any one or more dependents of the Participant as the Company
may designate. No beneficiary shall, prior to the death of the Participant by
whom he or she has been designated, acquire any interest in the Stock or cash
credited to the Participant under the Plan.

         11.13 USE OF FUNDS. All contributions received or held by the Company
under this Plan may be used by the Company for any corporate purpose and the
Company shall not be obligated to segregate such payroll deductions.

         11.14 EFFECT OF PLAN. The provisions of the Plan shall, in accordance
with its terms, be binding upon, and inure to the benefit of, all successors of
each Employee participating in the Plan, including, without limitation, such
Employee's estate and executors, administrators or trustees, heirs and legatees,
and any receiver, trustee in bankruptcy or representative of creditors of such
Employee.

         IN WITNESS WHEREOF, the Company has caused this document to be executed
and its seal to be affixed hereto, effective as specified herein.

ATTEST/WITNESS:                          COMPUDYNE CORPORATION

        /s/  W. C. Rock                   By:    /s/ Martin Roenigk       (SEAL)
--------------------------------------        -----------------------------

Print Name:  W. C. Rock                        Print Name: Martin Roenigk

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