Document:

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                                                                   EXHIBIT 10.13

      SUBSCRIPTION AGREEMENT dated as of March 2, 2004 (this "Agreement")
between (i) TELEX COMMUNICATIONS HOLDINGS, INC., a Delaware corporation (the
"Company"), and (ii) RALPH STRADER ("Employee").

      Capitalized terms used but not otherwise defined herein shall have the
meanings set forth in Section 1 hereof.

                                   Witnesseth:

      Whereas, the Company has agreed to sell to Employee twenty thousand
(20,000) shares of Common Stock, subject to the terms and conditions of this
Agreement.

      Now, therefore, in consideration of the mutual covenants contained herein
and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereby agree as follows:

      1. Definitions. As used herein, the following terms shall have the
following meanings:

            "Affiliate" shall mean, as to any Person, any other Person which,
directly or indirectly, controls, or is under common control with, or is
controlled by, such Person and, if such Person is an individual, any member of
the family (including parents, spouse, children and grandchildren) of such
individual and any trust whose principal beneficiary is such individual or one
or more members of such family and any Person who is controlled by any such
member or trust. As used in this definition, "control" (including, with its
correlative meanings, "controlled by" and "under common control with") shall
mean possession, directly or indirectly, of power to direct or cause the
direction of management or policies of a Person (whether through ownership of
securities or partnership or other ownership interests, by contract or
otherwise); and any Person which owns directly or indirectly 10% or more of the
securities having ordinary voting power for the election of directors or other
governing body of a corporation or 10% or more of a partnership or other
ownership interest of any other Person will be deemed to control such
corporation or other Person. Without limiting the generality of the foregoing,
"Affiliate" shall also include the following: (i) any direct or indirect
Subsidiary of such Person or of any other Affiliate of such Person; and (ii) any
partnership of which such Person or any of the foregoing or any other Affiliate
is a general partner, or is the holder of any interest in such partnership
entitling the holder thereof to 10% or more of the profits and losses of the
partnership or which represents 10% or more of the contributed capital or the
capital contribution requirements of the partnership. The Company and its
Subsidiaries shall not be deemed to be "Affiliates" of Employee for purposes of
this Agreement.

            "Change of Control" shall have the meaning given such term, or any
similar term, under the Credit Documents.

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            "Common Stock" shall mean the Common Stock, par value $0.01 per
share, of the Company.

            "Common Stock Deemed Outstanding" shall mean the number of shares of
Common Stock determined on a fully diluted basis giving effect to all
outstanding Common Stock Equivalents.

            "Common Stock Equivalents" shall mean the Common Stock and all
securities convertible into or exchangeable for Common Stock or any options,
warrants, convertible securities or other rights to acquire Common Stock or such
convertible or exchangeable securities.

            "Company" shall have the meaning given such term at the beginning of
this Agreement.

            "Credit Documents" shall mean and include: (i) the Credit Agreement
dated as of November 19, 2003, by and among Telex, the other persons designated
as "Credit Parties" on the signature pages thereof, the Lenders who become party
to such agreement, and General Electric Capital Corporation, as the initial L/C
Issuer and as Agent; (ii) the Indenture dated as of November 19, 2003 among
Telex, the Guarantors named therein, and BNY Midwest Trust Company, as Trustee
and Collateral Agent, governing Telex's 11 1/2% Senior Secured Notes due 2008,
(iii) the Indenture dated as of November 19, 2003 by and between Intermediate
Holdings, as Issuer, and BNY Midwest Trust Company, as Trustee and Collateral
Agent governing Intermediate Holdings' 13% Senior Subordinated Discount Notes
due 2009; and (iv) any refunding, restructuring, replacement, substitution,
renewal, modification, increase or extension of any of the foregoing.

            "Employee" shall have the meaning given such term at the beginning
of this Agreement.

            "Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended, or any successor statute or statutes thereto.

            "Government" shall mean (or in the case of "Governmental" shall
refer to): (i) the governments of the United States and any country wherein the
Company engages in business; (ii) the government of any state, province, county,
municipality, city, town or district of any such country; and (iii) any
ministry, agency, department, authority, commission, administration,
corporation, bank, court, magistrate, tribunal, arbitrator, instrumentality or
political subdivision of, or within the geographical jurisdiction of, any
government described in the foregoing clauses (i) and (ii).

            "Shares" shall have the meaning given such term in Section 2 hereof.

            "Insolvency Event", when used with respect to any Person, shall mean
and include any of the following affecting such Person or the assets of such
Person or his estate: bankruptcy; reorganization; insolvency proceeding;
receivership; appointment of a trust or

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conservatorship; foreclosure on or seizure of a material portion of the assets
of such Person or his estate; enforcement of any lien, mortgage, collateral
assignment or similar agreement or security interest on a material portion of
the assets of such Person or his estate; or any similar proceeding or action
affecting such Person or his estate or a material portion of the assets of such
Person or his estate.

            "Intermediate Holdings" shall mean Telex Communications Intermediate
Holdings, LLC, a Delaware limited liability company.

            "Interested Party" when used with respect to any Sale of the Company
shall mean and include: (i) any Person or "group" (as such term is used in Rule
13d-5(b) under the Exchange Act), which is the "beneficial owner" (as such term
is used in Rule 13d-3 under the Exchange Act) of more than 10% of the shares of
the Common Stock Deemed Outstanding as of immediately prior to any Sale of the
Company Effective Date; (ii) any Affiliate, director, officer or equity security
holder of any Person or group described in the preceding clause (i); and (iii)
any director or officer the Company or any Subsidiary of the Company, and any
Affiliate of any such director or officer of the Company or any Subsidiary of
the Company.

            "Law" shall mean any of the following of, or issued by, any
Government, including without limitation any amendment, modification or
supplementation of any of the following from time to time subsequent to the
original enactment, adoption, issuance, announcement, promulgation or granting
thereof and prior to the date hereof: any statute, law, act, ordinance, code,
rule or regulation or any writ, injunction, award, decree, judgment or order of
any Government.

            "Liens" shall mean liens, attachments, encumbrances, restrictions,
licenses, claims, security interests, mortgages, pledges, charges, usufruct,
easement, note of litis, lis pendens, escrows, precautionary measures (whether
taken prior to or after the initiation of the lawsuit), privilege, right of
option or preference, options, rights of first refusal or offer, or other right
of a real or personal kind having similar effect or other limitation to full
ownership, transfer and/or availability of the assets subject to the Lien in
question.

            "Majority Holders" shall mean the holders of record of more than 50%
of the Common Stock outstanding.

            "Mandatory Sale Triggering Event" shall have the meaning given such
term in Section 8(a) hereof.

            "Mandatory Sale Election" and "Mandatory Sale Election Period" shall
have the meaning given such term in Section 7(b) hereof.

            "Mandatory Sale of Shares" shall have the meaning given such term in
Section 7(c) hereof.

            "Mandatory Sale Option" shall have the meaning given such term in
Section 7(a) hereof.

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            "Mandatory Sale Purchase Price" shall have the meaning given such
term in Section 7(a) hereof.

            "Mandatory Sale Shares" shall have the meaning given such term in
Section 7(a) hereof.

            "Permitted Transfers" shall have the meaning given such term in
Section 5(b) hereof.

            "Person" shall mean an individual, a partnership, a corporation, a
limited liability company, an association, a joint stock company, a trust, a
joint venture, an unincorporated organization or a Government.

            "Public Offering" shall mean the closing of a sale by the Company to
the public of Common Stock for the account of the Company pursuant to an
effective registration statement under the Securities Act.

            "Purchase Price" shall have the meaning given such term in Section 2
hereof.

            "Qualified Public Offering" shall mean the closing of an
underwritten Public Offering having an aggregate value (based upon the offering
price of such Public Offering) of at least $40 million.

            "Related Persons" when used with respect to any other Person shall
mean and include: members of the family of such Person (including without
limitation natural and adopted children, parents, grand-parents, siblings and
children of siblings); the estate of such Person upon such Person's death;
descendents of such Person; and trusts or similar entities created for the
benefit of such Person or any Related Person.

            "Restricted Securities" shall mean and include the Shares.

            "Sale of the Company" shall have the meaning given such term in
Section 6(a) hereof.

            "Sale of the Company Effective Date" shall mean the date on which
any Sale of the Company shall have been effected.

            "Securities Act" shall mean the Securities Act of 1933, as amended
and in effect from time to time, together with the rules and regulations
promulgated thereunder from time to time by the United States Securities and
Exchange Commission.

            "Subsidiary" shall mean, with respect to any Person, any
corporation, partnership, association or other business entity of which: (i) if
a corporation, a majority of the total voting power of shares of stock entitled
(without regard to the occurrence of any contingency) to vote in the election of
directors, managers or trustees thereof is at the time owned or controlled,
directly

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or indirectly, by that Person or one or more of the other Subsidiaries of that
Person or a combination thereof; or (ii) if a partnership, association or other
business entity, a majority of the partnership or other similar ownership
interest thereof is at the time owned or controlled, directly or indirectly, by
any Person or one or more Subsidiaries of that Person or a combination thereof.
For purposes hereof, a Person or Persons shall be deemed to have a majority
ownership interest in a partnership, association or other business entity if
such Person or Persons shall be allocated a majority of partnership, association
or other business entity gains or losses or shall be or control the managing
director, managing member or a general partner or other managing person of such
partnership, association or other business entity.

            "Telex" shall mean Telex Communications, Inc., a Delaware
corporation.

            "Transfer" or "Transferred" in connection with any Restricted
Securities shall mean a sale, assignment, gift, pledge, mortgage, hypothecation
or other transfer of, the imposition of any Lien on or the grant of any interest
therein, whether occurring voluntarily or involuntarily, directly or indirectly,
or by operation of law or otherwise.

            "Transferee" shall mean Persons to whom Restricted Securities are
Transferred.

      2. Issuance of Shares. Simultaneously with the execution and delivery of
this Agreement, the Company shall issue to Employee, and Employee shall
purchase, twenty thousand (20,000) shares of the Common Stock (the "Shares") at
a price of $0.30 per Share (the "Purchase Price"), or six thousand dollars
($6,000) in the aggregate, in cash. The Company shall cause certificates
evidencing the Shares to be issued to Employee as soon as practicable following
payment in full of the Purchase Price.

      3. Restricted Securities; Legend.

            (a) Employee acknowledges and confirms as follows: The Restricted
Securities are or will be issued in reliance upon and in accordance with the
exemption from registration afforded by Section 4(2) the Securities Act and
Regulation D thereunder. Employee is acquiring the Restricted Securities for
investment for Employee's own account and not with a view to any public sale or
other distribution thereof. Employee is a sophisticated purchaser and capable of
evaluating the merits and risks of acquiring the Restricted Securities.
Employee, by reason of Employee's management, business or financial experience,
has the capacity to protect Employee's own interests in connection with the
purchase of the Restricted Securities. Employee acknowledges and agrees as
follows: (i) the Restricted Securities are "restricted securities" (as defined
under the rules and regulations promulgated under the Securities Act) and as
such may not be sold or transferred unless registered under the Securities Act,
unless an exemption from registration thereunder is available in connection with
any such sale or transfer or unless such registration requirements are not
otherwise applicable to any such sale or transfer; (ii) the Restricted
Securities have not been issued pursuant to any registration or similar filing,
listing or prospectus or document delivery requirements under the laws, rules or
regulations of any Government or the rules, regulations or guidelines of any
stock exchange or quotation system, and the Company has no obligation to effect
any of the foregoing with respect to the Restricted Securities; and (iii)
Employee has received, or has had access to, all information which Employee
considers necessary or advisable

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to enable Employee to make a decision concerning the purchase of the Restricted
Securities and has been given the opportunity to ask questions of, and receive
answers from, the Company and the management of the Company regarding the
business and prospects of the Company and the terms and conditions of the
issuance of the Restricted Securities. Employee acknowledges that an investment
in the Company involves a high degree of risk and is subject to a substantial
risk of loss.

            (b) All certificates and other instruments evidencing the Restricted
Securities shall bear a restrictive legend in substantially the following form:

            "The securities represented hereby are subject to the terms and
      conditions of the Subscription Agreement dated as of March 2, 2004 (the
      "Subscription Agreement") between the Company and Ralph Strader (as such
      agreement may be amended or supplemented subsequent to such date).
      Pursuant to the Subscription Agreement, no "Transfer" (as defined in the
      Subscription Agreement) of the securities represented hereby may be
      effected except as permitted by the Subscription Agreement.

            The securities represented hereby have not been issued pursuant to
      any registration or similar filing, listing or prospectus or document
      delivery requirements under the laws of any Government or the rules,
      regulations or guidelines of any stock exchange or quotation system, and
      the Company has no obligation to effect any of the foregoing with respect
      to the securities. No Transfer of the securities represented hereby may be
      made without compliance with any of the foregoing, unless an exemption
      thereunder is available in the opinion of counsel for the Company."

      4. Representations and Warranties.

            (a) Each of the parties hereto represents and warrants to each other
party hereto as follows as of the date of this Agreement:

                  (i) Such party may execute, deliver and perform this Agreement
without the necessity of such party obtaining any consent, approval,
authorization, registration, filing or waiver or giving any notice or otherwise,
except for any of the foregoing which have been irrevocably obtained or given
and, in the case of applicable securities laws, subject to the representations
and warranties made by Employee in Section 3(a) hereof.

                  (ii) This Agreement constitutes the legal, valid and binding
obligation of such party, enforceable in accordance with its terms, except as
may be limited by bankruptcy, reorganization, fraudulent conveyance, insolvency
and similar laws of general application relating to or affecting the enforcement
of rights of creditors.

            (b) The Company represents and warrants to Employee as follows as of
the date of this Agreement:

                  (i) This Agreement and the issuance of the Restricted
Securities have been duly authorized by the Board of Directors of the Company.

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                  (ii) The Shares will be, when issued and upon the payment in
full of the Purchase Price with respect thereto, duly authorized, validly
issued, fully paid and non-assessable shares of the Company, and will be issued
free of preemptive rights. When issued and upon the payment in full of the
Purchase Price with respect thereto, valid title to the Shares will be acquired
by Employee, free and clear of adverse claims created by the Company.

                  (iii) The Company has authority to issue: (i) 10 million
shares of Common Stock; (ii) 900 shares of Series A Preferred Stock, par value
$0.01 per share (the "Series A Preferred Stock"); and (iii) five million shares
of Series B Preferred Stock, par value $0.01 per share (the "Series B Preferred
Stock"). The shares of the Company's Series A Preferred Stock and Series B
Preferred Stock which were outstanding prior to April 16, 2002 were converted
into an equal number of shares of Common Stock as of that date. The Company has
outstanding as of the date hereof an aggregate of (i) 6,435,701.81 shares of
Common Stock (exclusive of 240,000 shares being issued to the Company's
employees, of which the shares being issued hereunder are a part), (ii) warrants
to purchase an additional 25,333.85 shares of Common Stock and (iii) options to
purchase an additional 100,000 shares of Common Stock.

      5. Limitation on Transfer of Shares.

            (a) Employee shall not effect any Transfer of the Restricted
Securities, except for Permitted Transfers but subject to the provisions of
Section 3(a) hereof). Any Transfer or attempted Transfer of the Restricted
Securities or any interest therein in violation of the terms and conditions of
this Agreement shall be void and invalid; and the Company may refuse to transfer
any Restricted Securities attempted to be Transferred in violation of this
Agreement. Any Person acquiring Restricted Securities or any interest therein in
violation of the terms and conditions of this Agreement, and any such Restricted
Securities, shall be subject to all of obligations imposed upon or with respect
to the Restricted Securities by this Agreement but shall not be entitled to any
of the rights granted with respect to the Restricted Securities or the holder
thereof by this Agreement.

            (b) For purposes hereof, "Permitted Transfers" shall mean and
include the following:

                  (i) Transfers by Employee of Shares pursuant to any Sale of
      the Company or Mandatory Sale of Shares.

                  (ii) Transfers by Employee to Employee's Related Persons of
      Shares, provided that: (A) such Transfers are approved by the Company
      (which approval shall not be unreasonably withheld) and will not result in
      a Change of Control; and (B) the Transferee executes an agreement
      satisfactory to the Company pursuant to which such Transferee agrees that
      the Transferred Shares shall continue to be subject to this Agreement
      (including without limitation the provisions of this Section 5 and Section
      6 and 7 hereof), and that the Transferee shall be subject to this
      Agreement the same as Employee (including without limitation with respect
      to the provisions of this Section 5 and Sections 6, 7 and 8 hereof) and as
      if an original party to this Agreement.

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                  (iii) Subsequent to a Qualified Public Offering, Transfers by
      Employee of Shares (A) if such Transfers are then permitted under
      applicable securities Laws, (B) subject to any restrictions imposed by any
      underwriter of the Qualified Public Offering on Transfers of Common Stock
      by directors, officers and principal stockholders of the Company (other
      than shares of Common Stock which are proposed to be sold by stockholders
      in any such Qualified Public Offering), and (C) provided that such
      Transfers will not result in a Change of Control.

            (c) All Transfers of Shares shall be subject to the provisions of
Section 3(a) hereof and subject to compliance with applicable securities Laws.

      6. Sale of the Company.

            (a) In the event that the Board of Directors of the Company or the
Majority Holders shall propose to effect a sale or similar transaction affecting
all the outstanding shares of the Company, a merger, consolidation or
reincorporation of the Company or a sale of all or substantially all of the
assets of Company and its Subsidiaries (a "Sale of the Company"), provided that
such Sale of the Company is not with or to any Interested Party, Employee shall
join in, and cooperate in effecting, the Sale of the Company (including without
limitation the Transfer of the Shares pursuant to the Sale of the Company), and
shall vote the Shares in favor of the Sale of the Company if a vote of the
holders of the Common Stock is necessary to effect the Sale of the Company;
provided that Employee receives the same consideration for each Share as every
other holder of the Common Stock.

            (b) Employee shall execute and deliver all such documents,
certificates, agreements, stock powers, indemnifications, guarantees and
instruments which Majority Holders shall be required to execute and deliver in
connection with any Sale of the Company, and Employee shall deliver the Shares
free and clear of all Liens.

            (c) In the event of any Sale of the Company resulting in the
conversion or exchange of the Common Stock, any securities issued in respect of
the Shares shall, if elected by the Board of Directors of the Company, be deemed
to be "Shares" for purposes of this Agreement; and Employee shall execute any
amendment to this Agreement requested by the Board of Directors to continue the
application of the provisions of this Agreement to any securities received by
Employee in any Sale of the Company.

            (d) The Chairman of the Board of Directors of the Company is hereby
appointed as the attorney-in-fact of Employee (and the estate of Employee) with
full power and authority to execute and deliver in the name of Employee (and the
estate of Employee) all such documents, certificates, agreements,
indemnifications, guarantees, endorsements and instruments, and to take all
other actions which the Chairman of the Board of Directors of the Company deems
necessary or desirable, in connection with and in furtherance of any Sale of the
Company, including without limitation (i) to execute any stock powers effecting
the Transfer of the Shares pursuant to the Sale of the Company, and (ii) to
execute or approve any resolutions of the stockholders of the Company in
furtherance of, or desirable to effect, any Sale of the Company. Such
power-of-attorney (which appointment is irrevocable and coupled with an
interest) shall survive the death or disability of

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Employee and, in the case of any holder of the Restricted Securities which is
not an individual, any liquidation, dissolution or Insolvency Event affecting
any such holder.

      7. Mandatory Sale of Shares.

            (a) In the event that any of the following shall have occurred (a
"Mandatory Sale Triggering Event"):

                  (i) the employment of Employee shall have been terminated
      prior to any Sale of the Company Effective Date (but other than in
      connection with any Sale of the Company);

                  (ii) an Insolvency Event shall have occurred with respect to
      Employee prior to any Sale of the Company Effective Date; or

                  (iii) Employee (or the estate of Employee) shall have breached
      in any respect the provisions of this Agreement;

then the Company shall have the right to require Employee (or the estate of
Employee) to sell to the Company or its assigns (the "Mandatory Sale Option")
all or a portion (as the Company shall elect) of the following amount of Shares
(the "Mandatory Sale Shares"):

<TABLE>
<CAPTION>
If the Mandatory Sale Triggering Event shall have occurred:          Shares
-----------------------------------------------------------          ------
<S>                                                                  <C>
On or before December 31, 2005.....................................  20,000

During the period commencing January 1, 2006 and ending December     13,334
31, 2006...........................................................

During the period commencing January 1, 2007 and ending December      6,666
31, 2007...........................................................

Subsequent to December 31, 2007....................................       0
</TABLE>

            (b) The Mandatory Sale Option may be exercised by the Company in
whole or in part during the 90-day period following the occurrence of a
Mandatory Sale Triggering Event (the "Mandatory Sale Election Period") by notice
in writing given by the Company to Employee (or to the estate of Employee) (a
"Mandatory Sale Election"). However, in the event that, at the time the Company
is entitled to make a Mandatory Sale Election, the Company is prohibited by the
terms of the Credit Documents from consummating a Mandatory Sale of Shares, then
the applicable Mandatory Sale Election Period may be extended by the Company for
a period ending no later than the 30th day following the date on which such
prohibition under the Credit Documents shall have expired or been waived by the
other parties to the Credit Documents, and the number of Shares that the Company
would otherwise be entitled to purchase during the original Mandatory Sale
Election Period shall continue during such extended Mandatory Sale Election
Period; however,

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the Company shall use its reasonable commercial efforts during and after the
original Mandatory Sale Election Period to obtain a consent or waiver under the
Credit Documents to allow the Company to consummate (but the Company shall not
be obligated to make a Mandatory Sale Election) the Mandatory Sale of Shares.

            (c) In the event that the Company shall make a Mandatory Sale
Election, the Company shall purchase, and Employee (or the estate of Employee)
shall sell, the Mandatory Sale Shares within 30 days following the date on which
the Mandatory Sale Election is received by Employee (or the estate of Employee)
(a "Mandatory Sale of Shares"). Employee (or the estate of Employee) shall,
against the payment of the Mandatory Sale Purchase Price, deliver the Mandatory
Sale Shares to the Company or its assigns free and clear of any Liens
accompanied by stock transfer instruments and endorsements satisfactory to the
Company. The Chairman of the Board of Directors of the Company is hereby
appointed as the attorney-in-fact of Employee (and the estate of Employee) with
full power and authority to execute and deliver in the name of Employee (or the
estate of Employee) all such documents, certificates, agreements,
indemnifications, guarantees, endorsements and instruments, and to take all
other actions which the Chairman of the Board of Directors of the Company deems
necessary or desirable, in connection with and in furtherance of any Mandatory
Sale of Shares.

            (d) In the event that a Mandatory Sale Election shall be made by the
Company, the "Mandatory Sale Purchase Price" shall be $0.30 per Share which is
the subject of the Mandatory Sale Election. The Mandatory Sale Purchase Price
under this Section 7(d)(ii) shall be proportionately adjusted from time to time
in the case of any stock dividend (including without limitation any dividend or
distribution to holders of the Common Stock of any Common Stock Equivalents),
stock split, stock combination, reclassification or recapitalization affecting
as a class the Common Stock outstanding occurring subsequent to the date hereof
and prior to closing of the Mandatory Sale of Shares; and any such adjustments
shall be made by the Board of Directors of the Company in good faith and shall
be final and binding on the Company and Employee.

      8. Voting.

            (a) In connection with any matter submitted to the holders of the
Common Stock or other capital stock or securities of the Company, Employee shall
vote all Shares in favor or against such matters (including without limitation
the election of directors of the Company) in the same proportion as the Majority
Holders shall vote their shares of Common Stock and other capital stock and
securities of the Company.

            (b) Employee hereby grants to the Chairman of the Board of Directors
of the Company a proxy to vote all Shares as provided in Section 8(a) hereof;
and such proxy shall be irrevocable and shall survive the death or disability of
Employee. In the event that, for any reason, the foregoing proxy shall become
unenforceable or shall have expired, then Employee shall execute and grant a new
proxy on the same terms as provided herein. The proxy granted hereunder, and the
obligations of the undersigned under this Section 8(a), shall be noted in the
voting records and registrar of the Company if required by the Company.

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            (c) The provisions of this Section 8 shall terminate after any
Qualified Public Offering.

      9. Further Actions. From time to time, as and when requested by the
Company, Employee shall execute and deliver, or cause to be executed and
delivered, such documents and instruments and shall take, or cause to be taken,
such further or other actions as may be deemed necessary or desirable to carry
out the intent and purposes of this Agreement and to consummate and give effect
to, or to evidence, the transactions hereunder and the provisions of this
Agreement.

      10. Miscellaneous.

            (a) This Agreement contains the entire agreement among the parties
to this Agreement with respect to the transactions hereunder and supersedes all
prior arrangements or understandings with respect thereto.

            (b) The descriptive headings of this Agreement are for convenience
only and shall not control or affect the meaning or construction of any
provision of this Agreement.

            (c) All notices or other communications which are required or
permitted under this Agreement shall be in writing and sufficient if delivered
personally or sent by facsimile transmission, internationally recognized
over-night courier or registered or certified mail, postage prepaid, addressed
as follows:

           If to the Company:                      with a copy to:

           12000 Portland Avenue                   Stroock & Stroock & Lavan LLP
           Burnsville, Minnesota 55337             180 Maiden Lane
           Telephone: 952.887.7489                 New York, New York 10038
           Facsimile: 952.886.3754                 Telephone: 212.806.5864
           Attention: Kristine L. Bruer            Facsimile: 212.806.6006
                      General Counsel              Attention: Melvin Epstein

           If to Employee:

           Ralph Strader
           18029 Priory Lane
           Minnetonka, MN 55345

Any such notices or communications shall be deemed to have been received: (i) if
delivered personally or sent by facsimile transmission (with transmission
confirmed in a writing) or nationally recognized overnight courier; or (ii) if
sent by registered or certified mail, on the date on which such mailing was
received by the party to whom it was addressed. Any party may by notice as
aforesaid change the address to which notices or other communications to it are
to be delivered or mailed.

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            (d) This Agreement shall be governed by and construed in accordance
with the Laws of the State of Delaware.

            (e) Any action, suit or other proceeding initiated by any party
hereto against the others under or in connection with this Agreement may be
brought only in the United States District Court for the District of Delaware or
a Delaware state court located in the City of Wilmington having appropriate
jurisdiction. The parties hereto hereby submit themselves to the jurisdiction of
any such court for the purpose of any such action and agree that service of
process on them in any such action, suit or proceeding may be effected by the
means by which notices are to be given to it under this Agreement.

            (f) The parties hereto acknowledge that the award of damages for any
breach of the obligations undertaken by the parties hereto may be insufficient
and inadequate and that the parties hereto shall be entitled to obtain specific
performance of the obligations of the other parties under this Agreement or
other injunctive relief, in addition to damages.

            (g) In the event that it shall be necessary for any party to this
Agreement to commence litigation to enforce its rights under this Agreement, and
in the event that it is finally determined by a court of competent jurisdiction
that the party against whom such enforcement is sought is in material breach of
its obligations under this Agreement, then the prevailing party shall be
entitled also to its legal costs in connection with the enforcement of such
rights. In the event that it is finally determined by a court of competent
jurisdiction that the party against whom such enforcement is sought is not in
material breach of its obligations under this Agreement, then such party shall
be entitled to its legal costs in connection with the defense of the action
brought against it.

            (h) Neither this Agreement nor any claims or rights under this
Agreement shall be assignable otherwise than by operation of law by any party
without the prior written consent of the other parties, and any purported
assignment by any party without the prior written consent of the other parties
shall be void. This Agreement shall inure to the benefit of and be binding upon
the parties hereto and their respective successors (whether by merger or
otherwise) and permitted assigns.

            (i) Any waiver of any term or condition of this Agreement, or any
amendment or supplementation of this Agreement, shall be effective only if in
writing. A waiver of any breach or failure to enforce any of the terms or
conditions of this Agreement shall not in any way affect, limit or waive a
party's rights under this Agreement at any time to enforce strict compliance
thereafter with every term or condition of this Agreement.

            (j) Notwithstanding any other provision of this Agreement, this
Agreement shall not create benefits on behalf of any third party or any other
Person; and this Agreement shall be effective only as among the parties hereto,
their successors and permitted assigns.

            (k) In the event that any provision contained in this Agreement
shall be determined to be invalid, illegal or unenforceable in any respect for
any reason, the validity, legality and enforceability of any such provision in
every other respect and the remaining

                                       12
<PAGE>

provisions of this Agreement shall not, at the election of the party for whose
benefit the provision exists, be in any way impaired.

            (l) This Agreement may be executed in two or more counterparts, each
of which shall be deemed an original, and it shall not be necessary in making
proof of this Agreement or the terms hereof to produce or account for more than
one of such counterparts.

             [The remainder of this page intentionally left blank.]

                                       13
<PAGE>

      In witness whereof, the undersigned have executed this Agreement as of the
date first above written.

TELEX COMMUNICATIONS, HOLDINGS, INC.          Employee:

By: _______________________________________   __________________________________
      Name: Raymond V. Malpocher                  RALPH STRADER
      Title: Chief Executive Officer

                                 SPOUSAL CONSENT

      The undersigned, being the spouse of Ralph Strader ("Employee"), hereby:
(i) consents to the terms and conditions of the Subscription Agreement dated as
of March 2, 2004 (the "Agreement") between Telex Communications Holdings, Inc.
(the "Company") and Employee; (ii) agrees that the Restricted Securities (as
defined in the Agreement) shall be subject to the terms and conditions of the
Agreement; (iii) agrees that all actions taken from time to time by Employee
under the Agreement shall be binding upon the undersigned without the necessity
of any consent, acknowledgment or confirmation by the undersigned; and (iv)
acknowledges that the Company is relying upon the execution by the undersigned
of this Spousal Consent in connection with the execution and performance by the
Company of the Agreement.

      In witness whereof, the undersigned has executed this Spousal Consent as
of the 2nd day of March, 2004.

                                              Spouse of Employee:

                                              __________________________________
                                                  MARY COOK

                                       14<PAGE>

                                                                   EXHIBIT 10.14

                             2004 STOCK OPTION PLAN

                                       OF

                       TELEX COMMUNICATIONS HOLDINGS, INC.

      1. Purpose. The purpose of this Stock Option Plan is to advance the
interests of the Corporation by encouraging and enabling the acquisition of a
larger personal proprietary interest in the Corporation by directors, employees,
consultants and independent contractors who are employed by, or perform services
for, the Corporation and its Subsidiaries and upon whose judgment and keen
interest the Corporation is largely dependent for the successful conduct of its
operations. It is anticipated that the acquisition of such proprietary interest
in the Corporation will stimulate the efforts of such directors, employees,
consultants and independent contractors on behalf of the Corporation and its
Subsidiaries and strengthen their desire to remain with the Corporation and its
Subsidiaries. It is also expected that the opportunity to acquire such a
proprietary interest will enable the Corporation and its Subsidiaries to attract
desirable personnel, directors and other service providers.

      2. Definitions. When used in this Plan, unless the context otherwise
requires:

            a. "Affiliate" shall mean, with respect to any specified Person, any
      other Person who directly or indirectly through one or more intermediaries
      controls, or is controlled by, or is under common control with, such
      specified Person. The term "control" means the possession, directly or
      indirectly, of the power to direct or cause the direction of the
      management and policies of a Person, whether through the ownership of
      voting securities, by contract or otherwise; and the terms "controlling"
      and "controlled" have meanings correlative of the foregoing.

            b. "Board of Directors" shall mean the Board of Directors of the
      Corporation, as constituted at any time.

            c. "Chairman of the Board" shall mean the person who at the time
      shall be Chairman of the Board of Directors.

            d. "Change of Control" shall mean the occurrence of one or more of
      the following events: (i) any "person" (as such term is used in Sections
      13(d) and 14(d) of the Exchange Act), other than one or more Permitted
      Holders, becomes the "beneficial owner" (as defined in Rules 13d-3 and
      13d-5 under the Exchange Act), directly or indirectly, of a majority in
      the aggregate of the total voting power of the Voting Stock of the
      Corporation; (ii) individuals who on the date of the adoption of this
      Stock Option Plan constituted the Board of Directors of the Corporation
      (together with any new

<PAGE>

      directors whose election by such Board of Directors of the Corporation or
      whose nomination for election by the shareholders of the Corporation was
      approved by a vote of a majority of the directors of the Corporation then
      still in office who were either directors on the date of the adoption of
      this Stock Option Plan or whose election or nomination for election was
      previously so approved) cease for any reason to constitute a majority of
      the Board of Directors of the Corporation then in office; (iii) the
      adoption of a plan relating to the liquidation or dissolution of the
      Corporation; or (iv) the merger or consolidation of the Corporation with
      or into another Person or the merger of another Person with or into the
      Corporation, or the sale of all or substantially all the assets of the
      Corporation (determined on a consolidated basis) to another Person (other
      than, in all such cases, a Person that is controlled by the Permitted
      Holders), other than a transaction following which in the case of a merger
      or consolidation transaction, holders of securities that represented 100%
      of the Voting Stock of the Corporation immediately prior to such
      transaction (or other securities into which such securities are converted
      as part of such merger or consolidation transaction) own directly or
      indirectly at least a majority of the voting power of the Voting Stock of
      the surviving Person in such merger or consolidation transaction
      immediately after such transaction and in substantially the same
      proportion as before the transaction.

            e. "Committee" shall mean the Committee hereinafter described in
      Section 3.

            f. "Corporation" shall mean Telex Communications Holdings, Inc.

            g. "Exchange Act" shall mean the Securities Exchange Act of 1934, as
      amended, and any successor statute or statutes thereto.

            h. "Fair Market Value" on a specified date shall mean the closing
      price at which one Share is traded on the stock exchange on which Shares
      are primarily traded, or, if the Shares are not listed on a stock
      exchange, on the National Association of Securities Dealers Automated
      Quotation System, or if the Shares are not so traded, the value of a Share
      as established by the Committee for such date using any reasonable method
      of valuation.

            i. "Options" shall mean the stock options granted pursuant to this
      Plan.

            j. "Permitted Holders" shall mean each of the following: Greenwich
      Street Capital Partners, Inc., FS Private Investments III LLC (d/b/a
      Jefferies Capital Partners), CFSC Wayland Advisers, Inc. or any of their
      respective Affiliates (including any investment fund or vehicle managed,
      sponsored or advised by Greenwich Street Capital Partners, Inc., FS
      Private Investments III LLC (d/b/a Jefferies Capital Partners), CFSC
      Wayland Advisers, Inc. or any of their respective Affiliates).

            k. "Person" shall mean an individual, partnership, corporation,
      limited liability company, unincorporated organization, trust or joint
      venture, or a governmental agency or political subdivision thereof.

                                       2
<PAGE>

            l. "Plan" shall mean this 2004 Stock Option Plan of Telex
      Communications Holdings, Inc. as adopted by the Board of Directors of the
      Corporation as of October 29, 2004, as such Plan from time to time may be
      amended.

            m. "Share" shall mean a share of common stock of the Corporation.

            n. "Subsidiary" shall mean any corporation, partnership, limited
      liability company or other business entity of which 50% or more of the
      stock, partnership interests, membership interests or other similar
      ownership interests having general voting power or sharing in gain or loss
      allocations is owned by the Corporation, or by another Subsidiary as
      herein defined, of the Corporation.

            o. "Voting Stock" shall mean, with respect to any Person, securities
      of any class or classes of Capital Stock of such Person entitling the
      holders thereof (whether at all times or only so long as no senior class
      of stock has voting power by reason of any contingency) to vote in the
      election of members of the Board of Directors of such Person.

      3. Committee. The Plan shall be administered by the Board of Directors;
provided, however, that from and after the date on which the Corporation is
required to register any class of its equity securities under Section 12 of the
Exchange Act, the Plan shall be administered by a Committee which shall consist
of two or more directors of the Corporation, each of whom shall be a
"Non-Employee Director" within the meaning of Rule 16b-3 under the Exchange Act
and an "outside director" within the meaning of Section 162(m) of the Internal
Revenue Code of 1986, as amended (the "Internal Revenue Code"). The members of
the Committee shall be selected by the Board of Directors. Any member of the
Committee may resign by giving written notice thereof to the Board of Directors,
and any member of the Committee may be removed at any time, with or without
cause, by the Board of Directors. If, for any reason, a member of the Committee
shall cease to serve, the vacancy shall be filled by the Board of Directors. The
Committee shall establish such rules and procedures as are necessary or
advisable to administer the Plan. During any period of time in which the Plan is
administered by the Board of Directors, all references in the Plan to the
Committee shall be deemed to refer to the Board of Directors.

      4. Participants. The class of persons who are potential recipients of
Options granted under this Plan consist of the (i) directors of the Corporation
or a Subsidiary, (ii) employees of the Corporation or a Subsidiary, and (iii)
consultants and independent contractors used by the Corporation or a Subsidiary,
in each case as determined by the Committee in its sole discretion. The
directors, employees, consultants and independent contractors to whom Options
are granted under this Plan, and the number of Shares subject to each such
Option, shall be determined by the Committee in its sole discretion, subject,
however, to the terms and conditions of this Plan.

      5. Shares and Grants of Options. The Committee may, but shall not be
required to, grant, in accordance with this Plan, Options to purchase an
aggregate of up to 140,000 Shares, which may be either Shares held in treasury
or authorized but unissued Shares. The maximum number of Shares which may be the
subject of Options granted to any individual during any calendar year shall not
exceed 15,000 Shares. If the Shares that would be issued or transferred pursuant
to any Option are not issued or transferred and cease to be issuable or
transferable for any reason, the number of Shares subject to such Option will no
longer be charged against the

                                       3
<PAGE>

limitation provided for herein and may again be made subject to Options;
provided, however, that with respect to any Option granted on or after the date
on which any class of equity securities issued by the Corporation is required to
be registered under Section 12 of the Exchange Act to any person who is a
"covered employee" as defined in Section 162(m) of the Internal Revenue Code and
the regulations promulgated thereunder that is canceled or repriced, the number
of Shares subject to such Option shall continue to count against the maximum
number of Shares which may be the subject of Options granted to such person and
such maximum number of Shares shall be determined in accordance with Section
162(m) of the Internal Revenue Code and the regulations promulgated thereunder.

      No Option shall be treated as an incentive stock option under Section 422
of the Internal Revenue Code, and all Options granted under the Plan shall be
non-qualified stock options for tax purposes.

      If any Option shall expire, be cancelled or terminate for any reason
without having been exercised in full, the unpurchased Shares subject thereto
may again be made subject to Options under the Plan.

      Nothing herein contained shall be construed to prohibit the issuance of
Options at different times to the same employee, director, consultant or
independent contractor.

      A certificate of Option signed by the Chairman of the Board of Directors,
or the President or a Vice President of the Corporation, shall be issued to each
person to whom an Option is granted, and shall be countersigned by the holder to
evidence the holder's agreement to the terms and conditions thereof and of the
Plan. The certificate of Option shall be in the form attached hereto as Annex 1,
or in such other form as may be determined by the Committee from time to time.

      6. Price. The price per Share of the Shares to be purchased pursuant to
the exercise of any Option shall be fixed by the Committee at the time of grant.

      7. Duration of Options. The duration of any Option granted under this Plan
shall be fixed by the Committee in its sole discretion; provided, however, that
no Option shall remain in effect for a period of more than ten years from the
date upon which the Option is granted.

      8. Consideration for Options. The Corporation shall obtain such
consideration for the grant of an Option as the Committee in its discretion may
request.

      9. Restrictions on Transferability of Options. Options shall not be
transferable otherwise than by will or by the laws of descent and distribution
or as provided in this Section 9. Notwithstanding the foregoing, the Committee
may, in its discretion, authorize a transfer of all or a portion of any Option
by the initial holder to (i) the spouse, children, stepchildren, grandchildren
or other family members of the initial holder ("Family Members"), (ii) a trust
or trusts for the exclusive benefit of such Family Members, (iii) a corporation
or partnership in which such Family Members and the initial holder are the only
shareholders or partners, or (iv) such other persons or entities which the
Committee may permit; provided, however, that subsequent transfers of such
Options shall be prohibited except by will or the laws of descent and

                                       4
<PAGE>

distribution. Any transfer of such an Option shall be subject to such terms and
conditions as the Committee shall approve, including that such Option shall
continue to be subject to the terms and conditions of the Option and of the Plan
as amended from time to time. The events of termination of employment or service
under Section 11 shall continue to be applied with respect to the initial
holder, following which a transferred Option shall be exercisable by the
transferee only to the extent and for the periods specified under Section 11.

      10. Exercise of Options. Except as otherwise provided herein, or as
otherwise determined by the Committee and provided in an applicable Option
certificate, or as otherwise provided in the holder's employment or consulting
agreement (if any) with the Corporation or a Subsidiary, an Option, after the
grant thereof, shall be vested and exercisable by the holder at the rate of 20%
on each of the first five anniversaries of the date of grant, provided that the
holder is still in the employ or service of the Corporation or a Subsidiary on
the applicable vesting date.

      Notwithstanding the foregoing, all or any part of any remaining
unexercised Options granted to any person may be exercised in the following
circumstances (but in no event after the expiration of the term of the Option):
(a) if, while the holder is employed by, or serving as a director of or
consultant to, the Corporation or a Subsidiary, there occurs a Change of
Control, or (b) upon the occurrence of such special circumstances or event as in
the opinion of the Committee merits special consideration.

      An Option shall be exercised by the delivery of a written notice duly
signed by the holder thereof to such effect, together with the Option
certificate and the full purchase price of the Shares purchased pursuant to the
exercise of the Option, to the Chairman of the Board or an officer of the
Corporation appointed by the Chairman of the Board for the purpose of receiving
the same. Payment of the full purchase price shall be made as follows: in cash;
by check payable to the order of the Corporation; by delivery to the Corporation
of Shares which shall be valued at their Fair Market Value on the date of
exercise of the Option; or by such other methods as the Committee may permit
from time to time; provided, however, that a holder may not use any Shares to
pay the exercise price unless the holder has beneficially owned such Shares for
at least six months. No Option may be granted pursuant to the Plan or exercised
at any time when such Option, or the granting, exercise or payment thereof, may
result in the violation of any law or governmental order or regulation.

      Within a reasonable time after the exercise of an Option, the Corporation
shall cause to be delivered to the person entitled thereto, a certificate for
the Shares purchased pursuant to the exercise of the Option. If the Option shall
have been exercised with respect to less than all of the Shares subject to the
Option, the Corporation shall also cause to be delivered to the person entitled
thereto a new Option certificate in replacement of the certificate surrendered
at the time of the exercise of the Option, indicating the number of Shares with
respect to which the Option remains available for exercise, or the original
Option certificate shall be endorsed to give effect to the partial exercise
thereof.

      11. Termination of Employment or Service. Except as otherwise provided in
the holder's employment or consulting agreement (if any) with the Corporation or
a Subsidiary, all or any part of any Option, to the extent unexercised, shall
terminate immediately (i) in the case of an employee, upon the cessation or
termination for any reason of the Option holder's

                                       5
<PAGE>

employment by the Corporation and all Subsidiaries, or (ii) in the case of a
director, consultant or independent contractor of the Corporation or a
Subsidiary who is not also an employee of the Corporation or a Subsidiary, upon
the holder's ceasing to serve as a director, consultant or independent
contractor of the Corporation or a Subsidiary, except that in either case the
Option holder shall have three months following the cessation of his employment
with the Corporation and Subsidiaries or his service as a director, consultant
or independent contractor of the Corporation or a Subsidiary, as the case may
be, and no longer, within which to exercise any unexercised Option that he could
have exercised on the day on which such employment, or service as a director,
consultant or independent contractor, terminated (including any portion of an
Option as to which the exercisability is accelerated pursuant to Section 10);
provided that such exercise must be accomplished prior to the expiration of the
term of such Option. Notwithstanding the foregoing, if the cessation of
employment or service as a director, consultant or independent contractor is due
to disability (as defined in Section 22(e)(3) of the Internal Revenue Code) or
to death, the Option holder or the representative of the Estate or the heirs of
a deceased Option holder shall have the privilege of exercising the Options
which are exercisable but unexercised at the time of such disability or death;
provided, however, that such exercise must be accomplished prior to the
expiration of the term of such Option and within twelve months of the Option
holder's disability or death, as the case may be. The Committee may, in its sole
discretion, at the time of grant of an Option or thereafter, extend the
post-termination exercise period with respect to such Option, but in no event
beyond the expiration of the term of such Option. Except as otherwise provided
in the holder's employment or consulting agreement (if any) with the Corporation
or a Subsidiary, if the employment or service of any Option holder with the
Corporation or a Subsidiary shall be terminated because of the Option holder's
unsatisfactory job performance (as reasonably determined by the Committee) or
violation of the duties of such employment or service with the Corporation or a
Subsidiary as he may from time to time have, the existence of which violation
shall be determined by the Committee in its sole discretion (which determination
by the Committee shall be conclusive) all unexercised Options of such Option
holder shall terminate immediately upon such termination of the holder's
employment or service with the Corporation and all Subsidiaries, and an Option
holder whose employment or service with the Corporation and Subsidiaries is so
terminated, shall have no right after such termination to exercise any
unexercised Option he might have exercised prior to the termination of his
employment or service with the Corporation and Subsidiaries.

      Nothing contained herein or in the Option certificate shall be construed
to confer on any employee or director any right to be continued in the employ of
the Corporation or any Subsidiary or as a director of the Corporation or a
Subsidiary or derogate from any right of the Corporation and any Subsidiary to
request the resignation of or discharge any employee, director, consultant or
independent contractor (without or with pay), at any time, with or without
cause.

      12. Corporation's Repurchase Rights; Drag Along; and Lock-Up. Upon a
proposed sale of any Shares purchased pursuant to the exercise of an Option or
following a termination of an Option holder's (or, in the case of any Option
which has been transferred in accordance with Section 9, the initial holder's)
employment or service with the Corporation and its Subsidiaries (a "Repurchase
Event"), the Corporation shall have a right of first refusal (if the Repurchase
Event

                                       6
<PAGE>

is a proposed sale) or a right, but not an obligation (if the Repurchase Event
is a termination of employment or service), to purchase all or part of the
Shares purchased pursuant to the exercise of the Option (if any) at a repurchase
price equal to (i) the proposed sale price if the Repurchase Event is a proposed
sale of Shares or (ii) the Fair Market Value of the Shares on the date of the
repurchase if the Repurchase Event is the Option holder's (or initial holder's)
termination of employment or service. The Corporation's repurchase rights with
respect to any Shares shall not be exercisable until at least six months have
elapsed since the date of the issuance of the Shares to the Option holder, but
the Shares shall nevertheless be subject to the Corporation's repurchase rights
until such rights expire or terminate as hereinafter provided. The Corporation's
right to repurchase Shares will expire on the latest of (i) 90 days from the
later of the date the Corporation has received notice from the holder of a
Repurchase Event due to a proposed sale or the date of a Repurchase Event due to
a termination of employment or service (or, if later, seven months after the
Shares were issued to the holder), or (ii) seven months from the time the last
Option was exercised by the holder of the Shares. Notwithstanding the foregoing,
the Corporation's repurchase rights pursuant to this Section 12 shall terminate
upon an initial public offering by the Corporation of Shares pursuant to an
effective registration statement under the Securities Act of 1933, as amended
(the "Securities Act"), other than pursuant to a registration statement on Form
S-4 or Form S-8 or any successor or similar form.

      Notwithstanding any other provision of the Plan, if the shareholders
owning at least 51% of the Corporation's Shares (the "Requisite Holders")
approve a sale of the Corporation or substantially all of its assets to a third
party in an arm's-length transaction in which such purchaser is not the
Corporation or an affiliate of the Corporation (an "Approved Sale"), whether by
way of merger, consolidation, sale of stock or assets, or otherwise, all holders
of any Shares issued pursuant to Options shall consent to and raise no
objections against the Approved Sale, and if the Approved Sale is structured as
(i) a merger or consolidation of the Corporation, or a sale of all or
substantially all of the Corporation's assets, each holder of any Shares issued
pursuant to an Option shall waive any dissenters rights, appraisal rights or
similar rights in connection with such merger, consolidation or asset sale, or
(ii) a sale of the stock of the Corporation, such holders shall agree to sell
their Shares on the terms and conditions approved by the Requisite Holders;
provided, however, that the obligations under this paragraph shall terminate
upon an initial public offering by the Corporation of Shares as described above.

      In connection with the Corporation's initial public offering, each holder
of any Shares issued pursuant to an Option shall agree, upon the request of the
principal underwriter managing the initial public offering of the Corporation,
not to sell publicly any such Shares without the prior written consent of such
underwriter for such period of time from the effective date of such registration
as the underwriter may specify.

      13. Adjustment of Optioned Shares. If prior to the complete exercise of
any Option there shall be declared and paid a stock dividend upon the common
stock of the Corporation or if the common stock of the Corporation shall be
split up, converted, exchanged, reclassified, or in any way substituted for, the
Option, to the extent that it has not been exercised, shall entitle the holder
thereof upon the future exercise of the Option to such number and kind of
securities or other property subject to the terms of the Option to which he
would have been entitled had he actually owned the Shares subject to the
unexercised portion of the Option at the time of the

                                       7
<PAGE>

occurrence of such stock dividend, split-up, conversion, exchange,
reclassification or substitution; and the aggregate purchase price upon the
future exercise of the Option shall be the same as if the originally optioned
Shares were being purchased thereunder. Any fractional shares or securities
payable upon the exercise of the Option as a result of such adjustment shall be
payable in cash based upon the Fair Market Value of such shares or securities at
the time of such exercise. If any such event should occur, the number of Shares
with respect to which Options remain to be issued, or with respect to which
Options may be reissued, shall be adjusted in a similar manner.

      Notwithstanding the foregoing, upon the dissolution or liquidation of the
Corporation, or the occurrence of a merger or consolidation in which the
Corporation is not the surviving corporation, or in which the Corporation
becomes a subsidiary of another corporation or in which the voting securities of
the Corporation outstanding immediately prior thereto do not continue to
represent (either by remaining outstanding or by being converted into voting
securities of the surviving entity) more than 50% of the combined voting
securities of the Corporation or such surviving entity immediately after such
merger or consolidation, or upon a spin-off (including a reverse spin-off) by
the Corporation, but only as to the holders of Options who are to be employed
immediately after the spin-off by the entity which represents less than 50% of
the value of the Corporation immediately prior to the transaction and any
holders who will serve as directors of such entity and not of the Corporation,
or upon the sale of all or substantially all of the assets of the Corporation,
the Committee may, in its sole discretion, terminate the Options granted
hereunder, unless provision is made by the Corporation in connection with any
such transaction for the assumption of Options theretofore granted or the
substitution for such Options of new options of the successor corporation or a
parent or subsidiary thereof, with appropriate adjustments as to the number and
kinds of shares and the per share exercise prices. In the event the Options
terminate as aforesaid in connection with such a dissolution, liquidation,
merger, consolidation, spin-off or sale, the Committee shall provide that the
holder of any such Option shall be entitled to receive from the Corporation an
amount equal to the excess of (i) the Fair Market Value (determined on the basis
of the amount received by shareholders in connection with such transaction) of
the Shares subject to the portion of the Option not theretofore exercised and
which is then exercisable (including the extent to which the exercisability is
accelerated pursuant to Section 10), over (ii) the aggregate purchase price
which would be payable for such Shares upon the exercise of the Option.

      In the event of any other change in the corporate structure or outstanding
Shares, the Committee may make such equitable adjustments to the number of
Shares and the class of shares available hereunder or to any outstanding Options
as it shall deem appropriate to prevent dilution or enlargement of rights.

      14. Issuance of Shares and Compliance with Securities Act. The Corporation
may postpone the issuance and delivery of Shares upon any exercise of an Option
until (a) the admission of such Shares to listing on any stock exchange on which
Shares of the Corporation of the same class are then listed, and (b) the
completion of such registration or other qualification of such Shares under any
State or Federal law, rule or regulation as the Corporation shall determine to
be necessary or advisable. Any person exercising an Option shall make such
representations and furnish such information as may, in the opinion of counsel
for the Corporation, be

                                       8
<PAGE>

appropriate to permit the Corporation, in the light of the then existence or
non-existence with respect to such Shares of an effective registration statement
under the Securities Act, to issue the Shares in compliance with the provisions
of the Securities Act or any comparable act. The Corporation shall have the
right, in its sole discretion, to legend any Shares which may be issued pursuant
to the exercise of an Option, or may issue stop transfer orders in respect
thereof.

      15. Income Tax Withholding. If the Corporation or a Subsidiary shall be
required to withhold any amounts by reason of any Federal, State or local tax
rules or regulations in respect of the issuance of Shares pursuant to the
exercise of such Option, the Corporation or the Subsidiary shall be entitled to
deduct and withhold such amounts from any cash payments to be made to the holder
of such Option. In any event, the holder shall make available to the Corporation
or Subsidiary, promptly when requested by the Corporation or such Subsidiary,
sufficient funds to meet the requirements of such withholding; and the
Corporation or Subsidiary shall be entitled to take and authorize such steps as
it may deem advisable in order to have such funds made available to the
Corporation or Subsidiary out of any funds or property due or to become due to
the holder of such Option.

      16. Administration and Amendment of the Plan. Except as hereinafter
provided, the Board of Directors or the Committee may at any time withdraw or
from time to time amend the Plan as it relates to, and the terms and conditions
of, any Options not theretofore granted, and the Board of Directors or the
Committee, with the consent of the affected holder of an Option, may at any time
withdraw or from time to time amend the Plan as it relates to, and the terms and
conditions of, any outstanding Option.

      Determinations of the Committee as to any question which may arise with
respect to the interpretation of the provisions of the Plan and Options shall be
final. The Committee may authorize and establish such rules, regulations and
revisions thereof not inconsistent with the provisions of the Plan, as it may
deem advisable to make the Plan and Options effective or provide for their
administration, and may take such other action with regard to the Plan and
Options as it shall deem desirable to effectuate their purpose.

      17. Effective Date. This Plan is effective October 29, 2004.

      18. Final Issuance Date. No Option shall be granted under the Plan after
October 29, 2014.

                                       9
<PAGE>

      IN WITNESS WHEREOF, the Corporation has caused these presents to be
executed by its duly authorized officer as of October 29, 2004.

                                    TELEX COMMUNICATIONS HOLDINGS, INC.

                                    By: __________________________________
                                        Name: Gregory W. Richter
                                        Title: Chief Financial Officer

                                       10
<PAGE>

                                                                         Annex 1

                               OPTION CERTIFICATE

                           NON-QUALIFIED STOCK OPTION

                                                       __________________ Shares

                           To Purchase Common Stock of

                       TELEX COMMUNICATIONS HOLDINGS, INC.

                        Issued Pursuant to the 2004 Stock
               Option Plan of Telex Communications Holdings, Inc.

            THIS CERTIFIES that on ______________________, 20__,
___________________________ (the "Holder") was granted an option ("Option")
which is not to be treated as an incentive stock option under Section 422 of the
Internal Revenue Code, to purchase at the Option exercise price of $__________
per share all or any part of ______________________ fully paid and
non-assessable shares ("Shares") of the common stock of Telex Communications
Holdings, Inc. (the "Corporation"), pursuant to the 2004 Stock Option Plan of
Telex Communications Holdings, Inc. (the "Plan"), upon and subject to the
following terms and conditions.

            This Option shall expire on ________________, 20__.

            This Option shall not be transferable by the Holder otherwise than
by will or by the laws of descent and distribution or as otherwise provided
pursuant to the Plan.

            Except as otherwise provided pursuant to the Plan, this Option shall
become vested and exercisable [at the rate of 20% on and after each of the first
five anniversaries of the date of grant, provided that the Holder is still in
the employ or service of the Corporation or a

<PAGE>

Subsidiary on the applicable vesting date].(1) In no event, however, may the
Option be exercised after the Option's expiration date or after an earlier
termination of exercisability of the Option pursuant to the Plan in connection
with the Holder's termination of employment or service with the Corporation or
its Subsidiaries.

            The Option and this Option certificate are issued pursuant to and
are subject to all of the terms and conditions of the Plan, the terms and
conditions of which are hereby incorporated as though set forth at length, and a
copy of which is attached to this certificate. Capitalized terms not otherwise
defined herein shall have the same meanings as defined in the Plan. By
countersigning below, the Holder agrees to be bound by the terms and conditions
of this Option and of the Plan. A determination of the Board of Directors of the
Corporation or the Committee under the Plan as to any questions which may arise
with respect to the interpretation of the provisions of the Option and of the
Plan shall be final. The Board of Directors or the Committee may authorize and
establish such rules, regulations and revisions thereof not inconsistent with
the provisions of the Plan, as it may deem advisable.

            WITNESS the signature of the Corporation's duly authorized officer
as of the date first written above.

                                    TELEX COMMUNICATIONS HOLDINGS, INC.

                                    By:______________________________________

ACCEPTED AND AGREED:

___________________________
[Holder]

------------------
(1)   Revise the vesting rate if the Committee determines to provide a different
      vesting schedule or there is an applicable employment or consulting
      agreement.

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