Document:

SECOND SUPPLEMENTAL INDENTURE

                             CONGOLEUM CORPORATION,

                                     Issuer,

                                       and

                       WACHOVIA BANK, NATIONAL ASSOCIATION
                  (as successor to First Union National Bank),

                                   as Trustee

                ------------------------------------------------

                          Second Supplemental Indenture

                           Dated as of August 7, 2003

                   to the Indenture dated as of August 3, 1998

                ------------------------------------------------

                                  $100,000,000

                          8-5/8% Senior Notes Due 2008
                ------------------------------------------------
<PAGE>

            SECOND SUPPLEMENTAL INDENTURE, dated as of August 7, 2003, between
Congoleum Corporation, a Delaware corporation (the "Issuer"), and Wachovia Bank,
National Association (as successor to First Union National Bank), as Trustee
(the "Trustee"), under the Indenture dated as of August 3, 1998, as supplemented
by the First Supplemental Indenture, dated as of March 28, 2003, between the
Issuer and the Trustee (the "Indenture"), this Second Supplemental Indenture
being supplemental thereto.

                             RECITALS OF THE ISSUER

            The Indenture was authorized, executed and delivered by the Issuer
to provide for the issuance by the Issuer of the Issuer's 8 ?% Senior Notes Due
2008 (the "Notes").

            The Issuer has duly authorized the execution and delivery of this
Second Supplemental Indenture to amend the Indenture as set forth herein
pursuant to Article VIII of the Indenture, and all acts necessary to make this
Second Supplemental Indenture a valid agreement of the Issuer have been
performed.

            In accordance with Articles VII and VIII of the Indenture, the
Issuer issued Solicitations of Consents to Amend Certain Provisions of the
Indenture, each dated July 30, 2003, and obtained the consent of Holders (as
defined in the Indenture) of not less than a majority in aggregate principal
amount of the outstanding Notes to amend the Indenture as set forth herein.

            NOW, THEREFORE, THIS SECOND SUPPLEMENTAL INDENTURE WITNESSETH, that,
in consideration of the premises, it is mutually agreed, for the benefit of each
other and for the equal and proportionate benefit of all Holders of the Notes,
as follows:

                                   ARTICLE ONE

                             AMENDMENT OF INDENTURE

            1.1 Definitions; Rules of Construction.

            Terms defined in the Indenture and used without other definition
herein have the respective meanings ascribed to them in the Indenture. The rules
of construction set forth in the Indenture likewise govern this Second
Supplemental Indenture.

            1.2 Amendments to Section 1.1 of the Indenture.

            Section 1.1 of the Indenture is hereby amended by:

      (1) adding the following new defined term to read as follows:

            "'ABI Payment' shall mean any amount(s) paid by American Biltrite to
      the Plan Trust on account of a Disposition Event that occurs after the
      Principal Adjustment Date but prior to the third anniversary of the
      Principal Adjustment Date, which amount shall be equal to the product of
      50% multiplied by the amount by which the Second Re-Measurement Value
      exceeds the greater of the Re-Measurement Value or $2,738,234.75.";

      (2) adding the following new defined term to read as follows:

            "'Chapter 11 Case Effective Date' means the effective date of the
      Chapter 11 Case.";
<PAGE>

      (3) adding the following new defined term to read as follows:

            "'Disposition Event' means the sale or other disposition by American
      Biltrite of all or substantially all of the shares of common stock of the
      Issuer held by American Biltrite as of the Principal Adjustment Date to a
      third party.";

      (4) adding the following new defined term to read as follows:

            "'Disposition Event Sales Proceeds' means the per share
      consideration to be paid to and received by American Biltrite pursuant to
      a Disposition Event for the shares of common stock of the Issuer held by
      American Biltrite and sold or to be sold or otherwise agreed to be
      disposed of by American Biltrite pursuant to such Disposition Event. To
      the extent such consideration is in the form of cash, such consideration
      shall be valued at the cash value. To the extent such consideration is in
      the form of noncash consideration, the value of such noncash consideration
      shall be the value attributed to and implied by the terms of the
      definitive agreement or agreements that pertain to the consideration to be
      paid and received by American Biltrite for the shares of common stock of
      the Issuer held by American Biltrite and sold or to be sold or otherwise
      agreed to be disposed of by American Biltrite pursuant to such Disposition
      Event as of the execution and delivery of such agreement or agreements by
      the parties to such agreement or agreements.";

      (5) adding the following new defined term to read as follows:

            "'Plan Note' means any promissory note or notes issuable or issued
      to (i) the Plan Trust by the Issuer and/or any Affiliate of the Issuer or
      guaranteed by the Issuer, together with any interest paid or payable
      thereon, which meets the following conditions: (a) the aggregate principal
      amount that the Issuer may be obligated to make payments (whether as an
      obligor or guarantor), together with principal payments previously made by
      the Issuer with regard thereto, shall not exceed the Plan Note Principal
      Ceiling Amount plus any accrued but unpaid interest or other amounts that
      may be added to such principal amount pursuant to the terms of such
      promissory note or notes and (b) the right of payment with respect thereto
      shall be subordinate and subject in right of payment to the prior payment
      in full of all amounts owing and payable pursuant to the Securities,
      except that interest may be paid on the principal of such note or notes
      pursuant to the terms of such note or notes so long as no Default or Event
      of Default has occurred or is continuing, and (ii) American Biltrite by
      the Issuer in the amount of any payment made by American Biltrite to the
      Plan Trust or any other payee, other than American Biltrite, pursuant to
      any note issued by the Issuer to the Plan Trust pursuant to clause (i) of
      this definition, together with any interest paid or payable thereon, plus
      any accrued but unpaid interest or other amounts that may be added to the
      principal of such note or notes pursuant to the terms of such note or
      notes, provided, that the right of payment shall be subordinate and
      subject in right of payment to the prior payment in full in cash of all
      amounts owing and payable pursuant to the Securities, except that interest
      may be paid on the principal of such note or notes pursuant to the terms
      of such note or notes so long as no Default or Event of Default has
      occurred or is continuing, and that the right of payment shall be
      subordinated and subject in right of payment to the prior payment in full
      of all amounts owing and payable to the Plan Trust or other payee, other
      than American Biltrite, pursuant to any note issued by the Issuer to the
      Plan Trust pursuant to clause (i) of this definition.";

      (6) adding the following new defined term to read as follows:

            "'Plan Note Principal Ceiling Amount' means the greater of (i)
      $2,738,234.75 or (ii) commencing on the Principal Adjustment Date, the
      Re-Measurement Value.";

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<PAGE>

      (7) adding the following new defined term to read as follows:

            "'Plan Note Repayment Obligation' shall mean the Issuer's obligation
      to repay American Biltrite for any ABI Payment made by American Biltrite,
      pursuant to which the Issuer shall issue a promissory note to American
      Biltrite in the amount of such ABI Payment plus any accrued but unpaid
      interest or other amounts that may be added to such amount pursuant to the
      terms of such note, and which note shall be subordinate in right of
      payment to the prior payment in full of all amounts owing and payable
      pursuant to the Securities, except that interest may be paid on the
      principal of such note pursuant to the terms of such note so long as no
      Default or Event of Default has occurred or is continuing.";

      (8) adding the following new defined term to read as follows:

            "'Principal Adjustment Date' means the later of (i) June 30, 2005
      and (ii) the last Trading Day of the 90 consecutive Trading Day period
      commencing on the first anniversary of the Chapter 11 Case Effective
      Date.";

      (9) replacing the definition of "Proposed Transaction" in its entirety to
read as follows:

            "'Proposed Transaction' means any of the following actions,
      agreements, arrangements and understandings intended to achieve Asbestos
      Settlements pursuant to, arising from, in connection with, related to or
      in contemplation of a Chapter 11 Case: (i) establishment and funding by
      the Issuer and/or any of its Affiliates of any Prepetition Trust; (ii)
      establishment by the Issuer and/or any of its Affiliates of the Plan
      Trust; (iii) funding of the Plan Trust with (a) the Prepetition Trust
      Assets, (b) an assignment of or grant of a security interest in certain
      rights in and proceeds of Asbestos Insurance Policies by the Issuer and/or
      any of its Affiliates, (c) an assignment or transfer (whether as an
      outright assignment or transfer or only upon the occurrence of a specified
      event) or pledge of common stock of the Issuer constituting a majority of
      the common stock of the Issuer, (d) the Plan Note, and/or (e) other
      contributions that may be made, paid or payable by American Biltrite,
      including without limitation cash payments, issuing a note or notes and
      pledging of certain rights it may have to receive payments or
      distributions from the Plan Trust and/or the Issuer to the Plan Trust as
      collateral securing the obligations relating to the Plan Note; (iv) the
      incurrence and satisfaction of the Plan Note Repayment Obligation; and (v)
      an agreement between the Issuer and American Biltrite that would provide
      for American Biltrite's agreement to vote in favor of the Issuer's plan of
      reorganization pursuant to a Chapter 11 Case and would provide for an
      agreement on the treatment of certain of American Biltrite's claims,
      including claims relating to Asbestos Proceedings, and other matters
      relating to such plan of reorganization.";

      (10) adding the following new defined term to read as follows:

            "'Re-Measurement Value' means the amount equal to the product of (i)
      51% multiplied by (ii) the product of (a) the number of shares of common
      stock of the Issuer outstanding as of the close of business on the
      Principal Adjustment Date multiplied by (b) the average trading prices per
      share of Class A common stock, par value $0.01 per share, of the Issuer
      (or such other class of Common Stock of the Issuer that has been
      registered under the Securities Act or the Exchange Act and is listed for
      trading on a national securities exchange in the United States, if such
      Class A common stock is not so registered and listed) at the close of
      trading for the 90 consecutive Trading Days ending on the Principal
      Adjustment Date (as adjusted for any stock dividends, splits or
      combinations, or transactions of similar effect); provided, however, that
      if none of the Issuer's Common Stock is listed for trading on a national
      securities exchange in the United States for the relevant measurement
      period, the Re-Measurement Value shall equal the product of 51% multiplied
      by the average of the high bid and low asked prices in the
      over-the-counter market, as reported by the National Association of
      Securities Dealers Automated Quotation System, per share of Class A common
      stock, par value $0.01 per share, of the Issuer (or such other class of
      Common Stock of the Issuer that is so reported, if such Class A common
      stock is not so reported) for each

                                        3
<PAGE>

      Trading Day over the 90 consecutive Trading Day period ending on the
      Principal Adjustment Date (as adjusted for any stock dividends, splits or
      combinations, or transactions of similar effect), or if none of the
      Issuer's Common Stock is so reported for the relevant measurement period,
      the Re-Measurement Value shall equal the product of 51% multiplied by the
      equity valuation of the Issuer as of the Principal Adjustment Date, as
      determined by the Board of Directors in good faith."; and

      (11) adding the following new defined term to read as follows:

            "'Second Re-Measurement Value' means the amount equal to the product
      of (i) 51% multiplied by (ii) the product of (a) the number of shares of
      common stock of the Issuer outstanding as of immediately prior to the
      effective time of the Disposition Event multiplied by (b) the Disposition
      Event Sales Proceeds."; and

      (12) adding the following new defined term to read as follows:

            "'Trading Day' means a day on which the principal national
      securities exchange on which the shares of the Issuer's Common Stock are
      listed or admitted to trading is open for the transaction of business or,
      if the shares of the Issuer's Common Stock are not listed or admitted to
      trading on any national securities exchange, a day which is not a
      Saturday, Sunday or a day on which banking institutions are authorized or
      required by law to be closed in New York, New York."

            1.3 Amendment to Section 3.5 of the Indenture.

            Section 3.5 of the Indenture is hereby amended by replacing the word
"The" appearing as the first word of the last paragraph of said section with the
following:

            "Except with regard to the Plan Note and the Plan Note Repayment
      Obligation, the".

            1.4 Effectiveness of Amendments.

            Upon execution and delivery by the Issuer and the Trustee of this
Second Supplemental Indenture, this Second Supplemental Indenture shall
immediately become effective.

                                   ARTICLE TWO

                                  MISCELLANEOUS

            2.1 Severability.

            In case any provision in this Second Supplemental Indenture shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions shall not in any way be affected or impaired thereby.

            2.2 Governing Law.

            THE INTERNAL LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED
TO CONSTRUE THIS SECOND SUPPLEMENTAL INDENTURE.

                                        4
<PAGE>

            2.3 Ratification.

            This Second Supplemental Indenture is a supplement to the Indenture.
As supplemented by this Second Supplemental Indenture, the Indenture is in all
respects ratified, approved and confirmed and the Indenture and this Second
Supplemental Indenture shall together constitute one and the same instrument.

            2.4 Counterpart Originals.

            The parties may sign separate copies of this Second Supplemental
Indenture. Each signed copy shall be an original, but both of them together
represent the same agreement.

            2.5 The Trustee.

            The Trustee shall not be responsible in any matter whatsoever for or
in respect of the validity or sufficiency of this Second Supplemental Indenture
or for or in respect of the Recitals contained herein, all of which are made
solely by the Issuer.

                           [Signature Page To Follow]

                                        5
<PAGE>

            IN WITNESS WHEREOF, CONGOLEUM CORPORATION has caused this Second
Supplemental Indenture to be signed in its corporate name and acknowledged by
one of its duly authorized officers; and WACHOVIA BANK, NATIONAL ASSOCIATION (as
successor to First Union National Bank), as Trustee, has caused this Second
Supplemental Indenture to be signed and acknowledged by one of its duly
authorized signatories, and its seal to be affixed hereunto or impressed hereon,
duly attested, as of the day and year first set forth above.

                                           CONGOLEUM CORPORATION

                                           By: /s/ Howard N. Feist III
                                               -----------------------------
                                           Name:  Howard N. Feist III
                                           Title: Chief Financial Officer

Attest:

/s/ Shirley LeBlanc
-----------------------------

                                           WACHOVIA BANK, NATIONAL ASSOCIATION
                                           (as successor to First Union
                                           National Bank), as Trustee

                                           By:
                                               -----------------------------
                                           Name:  Robert L. Bice II
                                           Title:  Vice President

(SEAL)

Attest:

-----------------------------

<PAGE>

            IN WITNESS WHEREOF, CONGOLEUM CORPORATION has caused this Second
Supplemental Indenture to be signed in its corporate name and acknowledged by
one of its duly authorized officers; and WACHOVIA BANK, NATIONAL ASSOCIATION (as
successor to First Union National Bank), as Trustee, has caused this Second
Supplemental Indenture to be signed and acknowledged by one of its duly
authorized signatories, and its seal to be affixed hereunto or impressed hereon,
duly attested, as of the day and year first set forth above.

                                           CONGOLEUM CORPORATION

                                           By:
                                               -----------------------------
                                           Name:  Howard N. Feist III
                                           Title: Chief Financial Officer

Attest:

-----------------------------

                                           WACHOVIA BANK, NATIONAL ASSOCIATION
                                           (as successor to First Union
                                           National Bank), as Trustee

                                           By: /s/ Robert L. Bice II
                                               -----------------------------
                                           Name:  Robert L. Bice II
                                           Title:  Vice President

(SEAL)

Attest:

/s/ [Illegible]
-----------------------------Form of Class A Common Stock Certificate

 Exhibit 4.1 
  

AMPEX | Corporation 
  

	 NUMBER
	 	 SHARES

	 AU
                
	 	_______
		
	 INCORPORATED UNDER THE LAWS
 OF THE STATE OF DELAWARE
	 	 CUSIP 032092 30 6
 SEE REVERSE FOR CERTAIN
 DEFINITIONS AND LEGENDS

  
 This Certifies that
                                        
                                        
                                        
                 
  
 Is the record holder of
                                        
                                        
                                        
         
  
 FULLY PAID AND
NONASSESSABLE SHARES OF THE CLASS A COMMON STOCK, $.01 PAR VALUE, OF 
  
 AMPEX | Corporation 
  
 Transferable only on the books of the Corporation
by the holder hereof in person or by duly authorized attorney upon surrender of the Certificate properly endorsed. This Certificate and the shares represented hereby are issued and shall be subject to all the provisions of the Restated Certificate
of Incorporation, as amended, to all of which the holder by acceptance hereof assents. This Certificate is not valid unless duly countersigned by the Transfer Agent and registered by the Registrar. 
  
 WITNESS the facsimile seal of the Corporation and the facsimile signatures of
its duly authorized officers. 
  
 Dated:
                     
  

	 	 	AMPEX CORPORATION	 	 
	/s/ Joel D. Talcott	 	CORPORATE SEAL	 	/s/ Edward J. Bramson
	            SECRETARY	 	1992	 	                        PRESIDENT
	 	 	DELAWARE	 	 

  
 COUNTERSIGNED AND REGISTERED:

 AMERICAN STOCK TRANSFER & TRUST COMPANY 
 TRANSFER AGENT
AND REGISTRAR 
  

	 BY
	 	  

	 	 	AUTHORIZED SIGNATURE

 AMPEX | Corporation 
  
 The Corporation shall furnish without charge to each stockholder who so requests a statement of the powers, designations,
preferences and relative, participating, optional or other special rights of each class of stock of the Corporation or series thereof and the qualifications, limitations or restrictions of such preferences and/or rights. Such requests shall be made
to the Corporation’s Secretary at the principal office of the Corporation. 
  
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE RESTRICTED PURSUANT TO THE RESTATED CERTIFICATE OF INCORPORATION OF THE CORPORATION TO THE EFFECT THAT THE VOTING RIGHTS OF CERTAIN HOLDERS OF THE CORPORATION’S
SECURITIES MAY BE NULLIFIED IN THE EVENT OF AN INQUIRY OR DETERMINATION BY THE U.S. DEPARTMENT OF DEFENSE REGARDING FOREIGN OWNERSHIP OF THE CORPORATION AND ITS POSSIBLE EFFECTS ON NATIONAL SECURITY. 
  
 The following abbreviations, when used in the inscription on the face of this
certificate, shall be construed as though they were written out in full according to applicable laws or regulations: 
  

	 TEN COM —as tenants in common
	 	 UNIF GIFT MIN
ACT                              Custodian
                             

	 TEN ENT  —as tenants by the entireties
	 	                                (Cust)      
                          (Minor)
	 JT TEN      —as joint tenants with right of
survivorship and not
                         as tenants in common
	 	 under Uniform Gifts to Minors

	 	 	 Act                                      
                                        
          

	 	 	(State)    
	 	 	 UNIF TRF MIN
ACT                      Custodian(until
age)                     

	 	 	(Cust)                                
	 	 	                                       
                               under Uniform Transfers

	 	 	(Minor)                    
	 	 	 to Minors
Act                                       
                             

	 	 	(State)                            

  
 Additional
abbreviations may also be used though not in the above list. 
  
 FOR VALUE
RECEIVED,                                      
  hereby sells, assigns and transfers unto 
  
 PLEASE INSERT SOCIAL
SECURITY OR OTHER 
 IDENTIFYING NUMBER OF ASSIGNEE 
  
                                       
                                        
                                        
                                        
                                        
                            
  
                                       
                                        
                                        
                                        
                                        
                                        
                    
 (PLEASE PRINT OR
TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE) 
  
                                       
                                        
                                        
                                        
                                        
                                        
                    
  
                                       
                                        
                                        
                                        
                                        
                                        
                    
  
                                       
                                        
                                        
                                        
                                        
                                        
      Shares 
 of the common stock represented by the within Certificate, and do hereby irrevocably constitute and appoint

  
                                       
                                        
                                        
                           Attorney to transfer the said stock on the books of the within named Corporation with
full power of substitution in the premises. 
  
 Dated
                                        

  

	 	  	 X                                      
      

		
	 	  	 X                                      
      

	NOTICE:	  	THE SIGNATURE(S) TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME(S) AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY
CHANGE WHATEVER.

  
 Signature(s) Guaranteed 
  
 By
                                        
                 
 THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE
GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE l7Ad-15.

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