Document:

<PAGE>   1

                                                                    Exhibit 10.9

                                CREDIT AGREEMENT

                                     between

                         Preformed Line Products Company

                                       and

                               National City Bank

                                December 30, 1994

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

<TABLE>
<CAPTION>
                                                                                                                Page
                                                                                                                ----

<S>      <C>                                                                                                     <C>
1A.      CROSS-REFERENCE..........................................................................................1

2A.      SUBJECT COMMITMENT.......................................................................................1

         2A.01    AMOUNT..........................................................................................1
         2A.02    TERM............................................................................................1
         2A.03    OPTIONAL REDUCTIONS.............................................................................2
         2A.04    COMMITMENT FEE..................................................................................2
         2A.05    EXTENSION OF SUBJECT COMMITMENTS................................................................2

2B.      SUBJECT LOANS............................................................................................2

         2B.01    SUBJECT NOTE....................................................................................3
         2B.02    CREDIT REQUESTS.................................................................................3
         2B.03    CONDITION:  NO DEFAULT..........................................................................3
         2B.04    CONDITION:  PURPOSE.............................................................................4
         2B.05    LOAN MIX........................................................................................4
         2B.06    AMOUNT..........................................................................................4
         2B.07    CONTRACT PERIODS................................................................................4
         2B.08    MATURITIES......................................................................................4
         2B.09    ROLLOVER........................................................................................4
         2B.10    INTEREST:  RR LOANS.............................................................................5
         2B.11    INTEREST:  FIXED-RATE LOANS.....................................................................5
         2B.12    DISBURSEMENT....................................................................................6
         2B.13    PREPAYMENTS.....................................................................................6
         2B.14    FIXED-RATE: UNAVAILABILITY......................................................................6
         2B.15    FIXED-RATE LOANS: ILLEGALITY....................................................................7
         2B.16    PRIOR LOANS.....................................................................................7

3A.      INFORMATION..............................................................................................7

         3A.01    FINANCIAL STATEMENTS............................................................................7
         3A.02    NOTICE..........................................................................................8

3B.      GENERAL FINANCIAL STANDARDS..............................................................................9

         3B.01    NET WORTH.......................................................................................9
         3B.02    LEVERAGE........................................................................................9
         3B.03    WORKING CAPITAL.................................................................................9
         3B.04    PRETAX INTEREST COVERAGE........................................................................9

3C.      AFFIRMATIVE COVENANTS...................................................................................10

         3C.01    TAXES..........................................................................................10
         3C.02    FINANCIAL RECORDS..............................................................................10
</TABLE>

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<TABLE>
<S>      <C>                                                                                                     <C>
         3C.03    VISITATION.....................................................................................10
         3C.04    INSURANCE......................................................................................10
         3C.05    CORPORATE EXISTENCE............................................................................11
         3C.06    COMPLIANCE WITH LAW............................................................................11
         3C.07    PROPERTIES.....................................................................................11

3D.      NEGATIVE COVENANTS......................................................................................12

         3D.01    EQUITY TRANSACTIONS............................................................................12
         3D.02    CREDIT EXTENSIONS..............................................................................12
         3D.03    LIENS, LEASES..................................................................................13
         3D.04    DIVIDENDS......................................................................................15

4A.      CLOSING.................................................................................................15

         4A.01    SUBJECT NOTE...................................................................................15
         4A.02    FINANCIAL STATEMENTS...........................................................................15
         4A.03    DOCUMENTATION FEE..............................................................................15

4B.      WARRANTIES..............................................................................................15

         4B.01    EXISTENCE......................................................................................15
         4B.02    GOVERNMENTAL RESTRICTIONS......................................................................15
         4B.03    CORPORATE AUTHORITY............................................................................16
         4B.04    LITIGATION.....................................................................................16
         4B.05    TAXES..........................................................................................16
         4B.06    TITLE..........................................................................................16
         4B.07    LAWFUL OPERATIONS..............................................................................16
         4B.08    INSURANCE......................................................................................17
         4B.09    FINANCIAL STATEMENTS...........................................................................17
         4B.10    DEFAULTS.......................................................................................17

5A.      EVENTS OF DEFAULT.......................................................................................17

         5A.01    PAYMENTS.......................................................................................17
         5A.02    WARRANTIES.....................................................................................17
         5A.03    COVENANTS WITHOUT GRACE........................................................................18
         5A.04    COVENANTS WITH GRACE...........................................................................18
         5A.05    CROSS-DEFAULT..................................................................................18
         5A.06    JUDGMENTS/ERISA DEFAULTS.......................................................................18
         5A.07    OWNERSHIP......................................................................................18
         5A.08    SOLVENCY.......................................................................................18

5B.      EFFECTS OF DEFAULT......................................................................................19

         5B.01    OPTIONAL DEFAULTS..............................................................................19
         5B.02    AUTOMATIC DEFAULTS.............................................................................19
         5B.03    OFFSETS........................................................................................19

6A.      INDEMNITY: STAMP TAXES..................................................................................19
</TABLE>

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<TABLE>
<S>      <C>                                                                                                     <C>
6B.      INDEMNITY: GOVERNMENTAL COSTS/FIXED-RATE LOANS..........................................................19

6C.      INDEMNITY: FUNDING COSTS................................................................................20

6D.      CREDIT REQUESTS.........................................................................................20

6E.      INDEMNITY: UNFRIENDLY TAKEOVERS.........................................................................20

6F.      INDEMNITY: CAPITAL REQUIREMENTS.........................................................................20

6G.      INDEMNITY: COLLECTION COSTS.............................................................................21

6H.      CERTIFICATE FOR INDEMNIFICATION.........................................................................21

7.       PARTICIPATION...........................................................................................21

8.       INTERPRETATION..........................................................................................21

         8.01     WAIVERS........................................................................................21
         8.02     CUMULATIVE PROVISIONS..........................................................................22
         8.03     BINDING EFFECT.................................................................................22
         8.04     SURVIVAL OF PROVISIONS.........................................................................22
         8.05     IMMEDIATE U.S. FUNDS...........................................................................22
         8.06     CAPTIONS.......................................................................................22
         8.07     SUBSECTIONS....................................................................................22
         8.08     ILLEGALITY.....................................................................................22
         8.09     OHIO LAW.......................................................................................22
         8.10     INTEREST/FEE COMPUTATIONS......................................................................22
         8.11     NOTICE.........................................................................................23
         8.12     ACCOUNTING TERMS...............................................................................23
         8.13     ENTIRE AGREEMENT...............................................................................23
         8.14     WAIVER OF JURY TRIAL...........................................................................23
         8.15     LATE CHARGE; APPLICATION OF PAYMENTS...........................................................23
         8.16     CONFIDENTIALLY.................................................................................23

9.       DEFINITIONS.............................................................................................24

         account officer.........................................................................................24
         accumulated funding deficiency..........................................................................24
         Agreement...............................................................................................24
         Bank....................................................................................................24
         banking day.............................................................................................24
         Borrower................................................................................................24
         company.................................................................................................24
         contract period.........................................................................................24
</TABLE>

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<TABLE>
<S>      <C>                                                                                                     <C>
         credit request..........................................................................................24
         current assets..........................................................................................24
         current liabilities.....................................................................................25
         debt....................................................................................................25
         default under ERISA.....................................................................................25
         default under this Agreement............................................................................25
         distribution............................................................................................25
         environmental law.......................................................................................25
         ERISA...................................................................................................25
         ERISA regulator.........................................................................................25
         expiration date.........................................................................................26
         federal funds rate......................................................................................26
         funded indebtedness.....................................................................................26
         GAAP....................................................................................................26
         guarantor...............................................................................................26
         insider.................................................................................................26
         insolvency action.......................................................................................27
         LIBO pre-margin rate....................................................................................27
         LIBOR loan..............................................................................................27
         AIM loan................................................................................................27
         money market rate.......................................................................................27
         most recent 4A.02 financial statements..................................................................27
         net income..............................................................................................27
         net worth...............................................................................................27
         pension plan............................................................................................27
         prime rate..............................................................................................28
         receivable..............................................................................................28
         reference rate..........................................................................................28
         related writing.........................................................................................28
         reportable event........................................................................................28
         RR loan.................................................................................................28
         short-term loan.........................................................................................28
         short-term note.........................................................................................28
         subject commitment......................................................................................28
         subject indebtedness....................................................................................28
         subject loan............................................................................................28
         subject note............................................................................................28
         subordinated............................................................................................29
         subsidiary..............................................................................................29
         supplemental schedule...................................................................................29
         term loan...............................................................................................29
         term note...............................................................................................29
         total liabilities.......................................................................................29
         wholly-owned............................................................................................29
</TABLE>

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                                CREDIT AGREEMENT
                                ----------------

This Agreement is made as of December 30, 1994 by and between Preformed Line
Products Company (BORROWER) and NATIONAL CITY BANK (BANK), a national banking
association headquartered in Cleveland, Ohio:

                            I N T R O D U C T I O N:
                             - - - - - - - - - - - -

         WHEREAS, A. Borrower and Bank are parties to an agreement made as of
July 22, 1981, as amended by an Amendment Agreement made as of July 22, 1984,
and as further amended by a Second Amendment Agreement made as of July 2, 1987,
pursuant to which Borrower has made its Term Note (the TERM NOTE), dated July
22, 1987, payable to the order of Bank in the principal sum of two million five
hundred thousand dollars ($2,500,000), and evidencing a loan (the TERM loan)
made by Bank to Borrower;

                 B. Borrower has made its Grid Note: Short-Term Loans (@ Base
Rate or Fixed Rate) (the SHORT-TERM NOTE), dated June 15, 1994, payable to the
order of Bank in the principal sum of seven million dollars ($7,000,000), and
evidencing loans (each such loan, a SHORT-TERM LOAN) made by Bank to Borrower;

                 C. Borrower has requested that the short-term loans and the
terns loan, to the extent outstanding on the date hereof, be continued
outstanding as subject loans pursuant to the terms and conditions of this
Agreement;

                 D. Borrower has requested Bank to agree, pursuant to the terms
and conditions of this Agreement, to make, until, but not including, the
expiration date, such other loans to Borrower as Borrower may from time to time
request;

         THEREFORE, in consideration of the premises, in consideration of the
mutual covenants herein contained, and, in the case of Bank, in reliance on the
representations, warranties, and other statements made in or pursuant to this
Agreement and the related writings, Borrower and Bank hereby agree as follows:

1A. CROSS-REFERENCE -- Certain terms are defined in section 9.

2A. SUBJECT COMMITMENT -- The basic terms of the subject commitment and the
compensation therefor are as follows:

         2A.01 AMOUNT -- The amount of the subject commitment is fifteen million
         dollars ($15,000,000), but that amount may be reduced from time to time
         pursuant to subsection 2A.03 and the subject commitment may be
         terminated pursuant to section 5B.

         2A.02 TERM -- The subject commitments shall commence as of the date of
         this Agreement and shall remain in effect on a revolving basis until
         (but not including) December 31, 1997 (the EXPIRATION DATE) EXCEPT that
         a later expiration date may be established from time to time pursuant
         to subsection 2A.05 and EXCEPT that the subject

<PAGE>   7

         commitments shall end in any event upon any earlier reduction thereof
         to zero pursuant to subsection 2A.03 or any earlier termination
         pursuant to section 5B.

         2A.03 OPTIONAL REDUCTIONS -- Borrower shall have the right, at all
         times and without the payment of any premium, to permanently reduce the
         amount of the subject commitments by giving Bank one (1) banking day's
         prior written notice of the amount of each such reduction and the
         effective date thereof subject, however, to the following:

                  (a) No such reduction shall reduce the subject commitments to
                  a lesser aggregate amount than the sum of the aggregate unpaid
                  principal balance of the fixed-rate loans then outstanding
                  plus the aggregate unpaid principal balance o any fixed-rate
                  loans to be obtained pursuant to any unfulfilled credit
                  request under subsection 2B.02.

                  (b) Concurrently with each reduction Borrower shall prepay
                  such part, if any, of the principal of the subject loans then
                  outstanding as may be in excess of the amount of the subject
                  commitments as so reduced. Subsection 2B.13 and section 6C
                  shall apply to each such prepayment.

         2A.04 COMMITMENT FEE -- Borrower agrees to pay Bank a commitment fee

                  (a) based on the average daily difference between the amount
                  of the subject commitments from time to time in effect and the
                  aggregate unpaid principal balance of the subject loans then
                  outstanding,

                  (b) computed (on the basis of a 360-day year and the actual
                  number of days elapsed) at a rate of one-fifth of one percent
                  (1/5%) per annum so long as the subject commitment remains in
                  effect and

                  (c) payable in arrears on April 1, 1995 and on the first day
                  of each July 1, October 1, January 1, and April 1 thereafter
                  and at the end of the subject commitment.

         2A.05 EXTENSION OF SUBJECT COMMITMENTS -- Whenever Borrower furnishes
         its audited financial statements to Bank pursuant to clause (b) of
         subsection 3A.01, commencing with Borrower's audited financial
         statements for its fiscal year ending December 31, 1995, Borrower may
         request that the subject commitments be extended one year to the
         December 31 next following the expiration date then in effect. Bank
         agrees to give consideration to each such request; but in no event
         shall Bank be committed to extend the subject commitments, nor shall
         the subject commitments be so extended, unless and until both Borrower
         and Bank shall have executed and delivered an extension agreement
         substantially in the form of Exhibit C with the blanks appropriately
         filled.

2B. SUBJECT LOANS -- Bank agrees that so long as the subject commitment remains
in effect Bank will, subject to the conditions of this Agreement, grant Borrower
such subject loans as Borrower may from time to time request.

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         2B.01 SUBJECT NOTE --The subject loans shall be evidenced at all times
         by a subject note executed and delivered by Borrower, payable to the
         order of Bank in a principal amount equal to the dollar amount of the
         subject commitment as in effect at the execution and delivery of the
         subject note and being in the form and substance of Exhibit B with the
         blanks appropriately filled.

                  (a) Whenever Borrower shall obtain a subject loan, Bank shall
                  endorse an appropriate entry on the subject note or make an
                  appropriate entry in a loan account in Bank's books and
                  records, or both. Each entry shall be prima facic evidence of
                  the data entered; but such entries shall not be a condition to
                  Borrower's obligation to pay.

                  (b) No holder of the subject note shall transfer the same or
                  seek a judgment or file a proof of claim based thereon,
                  without in each case first endorsing the subject note to
                  reflect the true amount owing thereon.

         2B.02 CREDIT REQUESTS -- Except as provided in subsection 2B.

         Whenever Borrower desires to borrow pursuant to this Agreement,
         Borrower shall give Bank an appropriate notice (a CREDIT REQUEST) with
         such information as Bank may reasonably request. The credit request
         shall be irrevocable and shall (EXCEPT in the case of any obtained at
         the execution and delivery of this Agreement) be given to Bank not
         later than 12:00 noon Cleveland time

                  (a) on the banking day the proceeds of any requested RR loan
                  or MM loan are to be disbursed to Borrower and

                  (b) on the third (3rd) banking day prior to the banking day on
                  which the proceeds of any requested LIBOR loan are to be
                  disbursed to Borrower.

         Each credit request shall be made either in writing or by telephone,
         PROVIDED that any telephone request shall be promptly confirmed in
         writing and Borrower shall assume the risk of misunderstanding.

         2B.03 CONDITION: NO DEFAULT -- Borrower shall not be entitled to obtain
         any subject loan if

                  (a) any default under this Agreement shall then exist or would
                  thereupon begin to exist or

                  (b) if any representation, warranty, or other statement made
                  by any person or entity (other than Bank) in any related
                  writing (other than any financial statement) would, if made
                  either as of the time of Borrower's request for that subject
                  loan or when that loan is to be made, be untrue or incomplete
                  in any respect.

         Each credit request, both when made and when honored, shall of itself
         constitute a continuing representation and warranty by Borrower that
         Borrower is entitled to obtain, and Bank is obligated to make, the
         requested subject loan.

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         2B.04 CONDITION: PURPOSE -- Borrower shall not use the proceeds of any
         subject loan in any manner that would violate or be inconsistent with
         Regulation U or X of the Board of Governors of the Federal Reserve
         System; nor will it use any such proceeds for the purpose of financing
         the acquisition of any corporation or other business entity if the
         acquisition is publicly opposed by the latter's management and if Bank
         deems that its participation in the financing would involve it in a
         conflict of interest.

         2B.05 LOAN MIX -- The subject loans at any one time outstanding may
         consist of RR loans or LIBOR loans or MM loans or any combination
         thereof as Borrower may from time to time duly elect.

         2B.06 AMOUNT -- No subject loan shall be made if, after giving effect
         thereto, the aggregate unpaid principal balance of the subject loans
         would exceed the amount of the subject commitment then in effect. Each
         fixed-rate loan shall be in the principal sum of one million dollars
         ($1,000,000) or any greater amount (subject to the aforesaid
         limitations) that is an integral multiple of one hundred thousand
         dollars ($100,000).

         2B.07 CONTRACT PERIODS -- Each fixed-rate loan shall have applicable
         thereto a contract period to be duly elected by Borrower in the credit
         request therefor. Each contract period shall begin on the date the loan
         proceeds are to be disbursed and shall end on such date, not later than
         the expiration date, as Borrower may select subject, however, to the
         following:

                  (a) The contract period for each MM loan shall be subject to
                  Bank's assent thereto and, if the contract period otherwise
                  would end on a day not a banking day, it shall end on the next
                  following banking day.

                  (b) The contract period for each LIBOR loan shall end one
                  month or two or three or six months after the date of
                  borrowing; PROVIDED, that

                           (1) if any such contract period otherwise would end
                           on a day that is not a banking day, it shall end
                           instead on the next following banking day unless that
                           day falls in another calendar month, in which latter
                           case the contract period shall end instead on the
                           last banking day of the next preceding calendar
                           month, and

                           (2) if the contract period commences on a day for
                           which there is no numerical equivalent in the
                           calendar month in which the contract period is to
                           end, it shall end on the last banking day of that
                           calendar month.

         2B.08 MATURITIES -- The stated maturity of each RR loan shall be the
         expiration date. The stated maturity of each fixed-rate loan shall be
         the last day of the contract period applicable thereto. In no event,
         however, shall the stated maturity of any subject loan be later than
         the expiration date.

         2B.09    ROLLOVER -- If

                                      -4-
<PAGE>   10

                  (a) prior to the expiration date any fixed-rate loan shall not
                  be paid in full at the stated maturity thereof and

                  (b) Borrower shall have failed to duly give Bank a timely
                  credit request in respect thereof, Borrower shall be deemed to
                  have duly given Bank a timely credit request to obtain (and
                  Bank shall accordingly make) a RR loan in a principal amount
                  equal to the unpaid principal of the fixed-rate loan then due,
                  the proceeds of which RR loan shall be applied to the payment
                  in full of the fixed-rate loan then due; PROVIDED that no such
                  RR. loan shall of itself constitute a waiver of any
                  then-existing default under this Agreement.

         2B.10 INTEREST: RR LOANS -- The principal of and overdue interest on
         the RR loans shall bear interest payable in arrears on April 1, 1995
         and the first day of each July, October January and April thereafter
         and at maturity and computed (in accordance with subsection 8.10)

                  (a) prior to maturity, at a fluctuating rate equal to the
                  reference rate from time to time in effect and

                  (b) after maturity (whether occurring by lapse of time or by
                  acceleration), at a fluctuating rate equal to the reference
                  rate from time to time in effect plus two percent (2%) per
                  annum,

with each change in the reference rate automatically and immediately changing
the rate thereafter applicable to the RR loans; PROVIDED, that in no event shall
the rate applicable to the RR loans after the maturity thereof be less than the
rate applicable thereto immediately after maturity.

         2B.11 INTEREST: FIXED-RATE LOANS -- The principal of and overdue
         interest on each fixed-rate loan shall bear interest computed (in
         accordance with subsection 8.10) and payable as follows:

                  (a) Prior to maturity each MM loan shall bear interest at a
                  rate equal to the money market rate in effect at the start of
                  the applicable contract period plus one-half of one percent
                  (1/2%) per annum.

                  (b) Prior to maturity each LIBOR loan shall bear interest at a
                  rate equal to the LIBO pre-margin rate in effect at the start
                  of the applicable contract period plus one-half of one percent
                  (1/2%) per annum.

                  (c) After maturity (whether occurring by lapse of time or by
                  acceleration), each fixed-rate loan shall bear interest
                  computed and payable in the same manner as in the case of RR
                  loans EXCEPT that in no event shall any fixed-rate loan bear
                  interest after maturity at a lesser rate than that applicable
                  thereto immediately after maturity.

                                      -5-
<PAGE>   11

                  (d) Interest on each fixed-rate loan shall be payable in
                  arrears on the last day of the contract period applicable
                  thereto and at maturity and, in the case of any contract
                  period having a longer term than

                           (i) ninety (90) days, in the case of any MM loan,
                           shall also be payable every ninety (90) days after
                           the first day of the contract period and

                           (ii) three months, in the case of any LIBOR loan,
                           shall also be payable every three (3) months after
                           the first day of the contract period.

         2B.12 DISBURSEMENT -- Bank shall, in the absence of Borrower's written
         instructions to the contrary, disburse the proceeds of each subject
         loan, in each case in immediately available funds, to Borrower's
         general checking account with Bank.

         2B.13 PREPAYMENTS -- Borrower may from time to time prepay the
         principal of the RR loans in whole or in part and may from time to time
         prepay the principal of any fixed-rate loan in whole or in part,
         subject to the following:

                  (a) Each prepayment of fixed-rate loans shall be applied
                  solely to a single fixed-rate loan, shall aggregate one
                  million dollars ($1,000,000) or any greater amount that is an
                  integral multiple of one hundred thousand dollars ($100,000)
                  or an amount equal to the then aggregate unpaid principal
                  balance thereof.

                  (b) Each prepayment of the RR loans may be made without
                  penalty or premium. Any prepayment of any fixed-rate loans
                  (regardless of the reason for the prepayment) shall be subject
                  to the payment of any indemnity required by section 6C.

                  (c) No prepayment shall of itself reduce the subject
                  commitment.

                  (d) Concurrently with each prepayment of a fixed-rate loan,
                  Borrower shall prepay the interest accrued on the prepaid
                  principal.

         2B.14    FIXED-RATE: UNAVAILABILITY -- If at any time

                  (a) Bank shall determine that dollar deposits of the relevant
                  amount for the relevant contract period are not available in
                  the London interbank eurodollar market (in the case of LIBOR
                  loans) or other market (in the case of MM loans) for the
                  purpose of funding the fixed-rate loan in question, or

                  (b) Bank shall determine that circumstances affecting that
                  market make it impracticable for Bank to ascertain the rate or
                  rates applicable to fixed-rate loans,

then and in each such case Bank shall, by written notice to Borrower, suspend
Borrower's right thereafter to obtain fixed-rate loans, which suspension shall
remain in effect until such time, if any, as Bank may give written notice to
Borrower that the condition giving rise to the suspension no longer prevails.

                                      -6-
<PAGE>   12

         2B.15 FIXED-RATE LOANS: ILLEGALITY -- If any governmental authority
         shall assert that it is unlawful for Bank to fund, make or maintain any
         fixed-rate loans,

                  (a) Bank shall give Borrower prompt written notice thereof and

                  (b) Borrower shall promptly pay in full the principal of and
                  interest on the fixed-rate loan in question and make the
                  reimbursement, if any, required by section 6C.

         2B.16 PRIOR LOANS -- Upon the execution and delivery of this Agreement,
         each of the prior loans outstanding on the date of this Agreement
         shall, subject to the terms and conditions of this Agreement, continue
         to be outstanding and shall be deemed an RR loan and shall bear
         interest accordingly until paid in full. Upon Borrowers' satisfaction
         of the conditions precedent set forth in section 4A, Bank shall return
         the short-term note and the term note, each marked "EXCHANGED", to
         Borrower.

3A. INFORMATION -- Borrower agrees that so long as the subject commitment
remains in effect and thereafter until all the subject indebtedness shall have
been paid in full, Borrower will perform and observe each of the following:

         3A.01 FINANCIAL STATEMENTS -- Borrower will furnish to Bank

                  (a) as soon as available (and in any event within forty-five
                  (45) days after the end of each month of each of Borrower's
                  fiscal years), balance sheets of the companies as at the end
                  of that period and their statements of cash flow, income and
                  surplus reconciliation for the year to the end of that period,
                  all prepared (but unaudited) on a consolidated net equity
                  basis, on a comparative basis with the prior year, in
                  accordance with the accounting principles used in preparing
                  Borrower's November 30, 1994 financial statements (released
                  December 13, 1994) heretofore furnished by Borrower to Bank,
                  and otherwise in form and detail reasonably satisfactory to
                  Bank,

                  (b) as soon as available (and in any event within one hundred
                  twenty (120) days after the end of each of Borrower's fiscal
                  years), a complete copy of the annual audit report (including
                  without limitation all financial statements of the companies
                  therein and notes thereto) of Borrower for that year which
                  shall be

                           (1) prepared on a consolidated basis, on a
                           comparative basis with the prior year, in accordance
                           with GAAP (EXCEPT as disclosed therein) and in form
                           and detail reasonably satisfactory to Bank and

                           (2) certified (without qualification as to GAAP,
                           except any qualification required as a result of the
                           non-disclosure of certain segment information about
                           Borrower's operations as required by Statement No. 14
                           of the Financial Accounting Standards Board) by Ernst
                           & Young or other independent certified public
                           accountants selected by Borrower and reasonably
                           satisfactory to Bank,

                                      -7-
<PAGE>   13

                  (c) concurrently with each delivery of financial statements
                  pursuant to clause (a) or (b), a certificate by Borrower's
                  chief financial officer

                           (1) certifying that to the best of the officer's
                           knowledge and belief, (A) those financial statements
                           fairly present in all material respects the financial
                           condition and results of operations of the companies
                           in accordance with GAAP subject, in the case of
                           interim financial statements, to routine year-end
                           audit adjustments and (B) no default under this
                           Agreement then exists or if any does, a brief
                           description of the default and Borrower's intentions
                           in respect thereof, and

                           (2) setting forth calculations indicating whether or
                           not the companies are in compliance with the general
                           financial standards of section 3B,

                  (d) promptly when filed (in final form) or sent, a copy of

                           (1) each registration statement, Form 10-K annual
                           report, Form 10-Q quarterly report, Form 8-K current
                           report or similar document, if any, filed by Borrower
                           with the Securities and Exchange Commission (or any
                           similar federal agency having regulatory jurisdiction
                           over Borrower's securities) and

                           (2) each proxy statement, annual report, certificate,
                           notice or other document sent by Borrower to the
                           holders of any of its securities (or any trustee
                           under any indenture which secures any of its
                           securities or pursuant to which such securities are
                           issued) and

                           (e) forthwith upon Bank's written request, such other
                           information about the financial condition, properties
                           and operations of the companies and their pension
                           plans as that Bank may from time to time reasonably
                           request.

         3A.02 NOTICE -- Borrower will cause its chief financial officer, or in
         his absence another officer designated by Borrower, to give Bank prompt
         written notice whenever any responsible officer of any company

                  (a) reasonably believes (or receives notice from any
                  governmental agency alleging) that any reportable event has
                  occurred in respect of any pension plan or that any company
                  has become in material non-compliance with any law or
                  governmental order referred to in subsection 3C.06 if
                  non-compliance therewith would materially and adversely affect
                  the financial condition, operations or properties of the
                  companies on a consolidated basis,

                  (b) receives from the Internal Revenue Service or any other
                  federal, state or local taxing authority any allegation of any
                  default by any company in the payment of any tax that is
                  material in amount or notice of any assessment in respect
                  thereof,

                                      -8-
<PAGE>   14

                  (c) learns there has been brought against any company before
                  any court, administrative agency or arbitrator any litigation
                  or proceeding which, if successful, might have a material,
                  adverse effect on the financial condition, operations or
                  properties of the companies on a consolidated basis,

                  (d) reasonably believes that any representation, warranty, or
                  other statement made by any person or entity (other than Bank)
                  in any related writing (other than any financial statement)
                  would, if made as of the time in question, be untrue or
                  incomplete in any material respect or

                  (e) reasonably believes that there has occurred or begun to
                  exist any other event, condition or thing that likely may have
                  a material, adverse effect on the financial condition,
                  operations or properties of the companies viewed on a
                  consolidated basis.

3B. GENERAL FINANCIAL STANDARDS -- Borrower agrees that so long as the subject
commitments remain in effect and thereafter until all of the subject
indebtedness shall have been paid in full, Borrower will observe each of the
following:

         3B.01 NET WORTH -- Borrower will not suffer or permit the consolidated
         net worth (exclusive of the cumulative foreign currency translation
         adjustment component thereof as reflected in Borrower's financial
         statements) of the companies at any time to be less than sixty million
         dollars ($60,000,000).

         3B.02 LEVERAGE -- Borrower will not suffer or permit

                  (a) the total liabilities of the companies at any time to
                  exceed an amount equal to seventy-five percent (75%) of the
                  net worth of the companies, all as determined on a
                  consolidated basis, or

                  (b) the total liabilities of Borrower (including only those of
                  Borrower and excluding those of its subsidiaries) at any time
                  to exceed an amount equal to fifty-two percent (52%) of
                  Borrower's net worth.

         3B.03 WORKING CAPITAL -- Borrower will not suffer or permit

                  (a) the companies' current assets, as determined on a
                  consolidated basis, less the companies' current liabilities,
                  as determined on a consolidated basis, at any time to fall
                  below eighteen million dollars ($18,000,000) or

                  (b) Borrower's current assets (exclusive of those of its
                  subsidiaries) less Borrower's current liabilities (exclusive
                  of those of its subsidiaries) at any time to fall below
                  thirteen million dollars ($13,000,000).

         3B.04 PRETAX INTEREST COVERAGE -- Borrower will not suffer or permit
         the aggregate, determined as of the last day each fiscal year
         (commencing with the present fiscal year), of

                                      -9-
<PAGE>   15

                  (a) the net income of the companies for that fiscal year plus

                  (b) the aggregate interest expense of the companies for that
                  fiscal year plus

                  (c) the aggregate federal, state and local income taxes of the
                  companies for that fiscal year to be less than an amount equal
                  to three hundred percent (300%) of the aggregate interest
                  expense of the companies for that fiscal year, all as
                  determined on a consolidated basis.

3C. AFFIRMATIVE COVENANTS -- Borrower agrees that so long as the subject
commitments remain in effect and thereafter until all of the subject
indebtedness shall have been paid in full, Borrower will perform and observe,
and will cause each subsidiary to perform and observe, each of the following
provisions on their respective parts to be complied with, namely:

         3C.01 TAXES -- Each company will pay in full

                  (a) prior in each case to the date when penalties for the
                  nonpayment thereof would attach, all taxes, assessments and
                  governmental charges and levies for which it may be or become
                  subject and

                  (b) prior in each case to the date the claim would become
                  delinquent for non-payment, all other lawful claims (whatever
                  their kind or nature);

         PROVIDED, that no item need be paid so long as and to the extent that
         it is contested in good faith and by timely and appropriate proceedings
         which are effective to stay enforcement thereof as well as the
         imposition of any lien or charge upon its property.

         3C.02 FINANCIAL RECORDS -- Each company will at all times keep true and
         complete financial records in accordance with GAAP and, without
         limiting the generality of the foregoing, make appropriate accruals to
         reserves for estimated and contingent losses and liabilities. Each
         fiscal year of each company shall commence on January 1 of a calendar
         year and conclude on December 31 of the same calendar year.

         3C.03 VISITATION -- Each company will permit Bank at all reasonable
         times, upon reasonable advance notice, except in the case of an
         emergency,

                  (a) to visit and inspect that company's properties and examine
                  its financial records and to make copies of and extracts from
                  such records and

                  (b) to consult with that company's directors, officers,
                  employees (with an officer of the company present, provided
                  that the company shall furnish such an officer promptly after
                  receipt of the aforementioned advance notice), accountants,
                  actuaries, trustees and plan administrators in respect of its
                  financial condition, properties and operations and the
                  financial condition of its pension plans, each of which
                  parties is hereby authorized to make such information
                  available to Bank to the same extent that it would to that
                  company.

         3C.04 INSURANCE -- Each company will

                                      -10-
<PAGE>   16

                  (a) keep itself and all of its insurable properties insured at
                  all times to such extent, with such deductibles, by such
                  insurers and against such hazards and liabilities as is
                  generally and prudently done by other business enterprises
                  respectively similar to the companies and

                  (b) forthwith upon Bank's written request, cause an
                  appropriate officer to deliver to each of Bank a certificate
                  setting forth, in form and detail satisfactory to Bank, such
                  information about that insurance, all as Bank may from time to
                  time reasonably request.

         3C.05 CORPORATE EXISTENCE -- Each company will at all times maintain
         its corporate existence, rights and franchises; PROVIDED, that this
         subsection shall not prevent any dissolution and liquidation of any
         subsidiary or any merger or consolidation permitted by subsection
         3D.01.

         3C.06 COMPLIANCE WITH LAW -- Each company will comply with all laws
         (whether federal, state or local and whether statutory, administrative
         or judicial or other) and with every lawful governmental order (whether
         administrative or judicial) and will, without limiting the generality
         of the foregoing,

                  (a) use and operate all of its facilities and properties in
                  material compliance with all environmental laws and handle all
                  hazardous materials in material compliance therewith; keep in
                  full effect each permit, approval, certification, license or
                  other authorization required by any environmental law for the
                  conduct of any material portion of its business; and comply in
                  all other material respects with all environmental laws;

                  (b) make a full and timely payment of premiums required by
                  ERISA and perform and observe all such further and other
                  requirements of ERISA such that no default under ERISA shall
                  occur or begin to exist and

                  (c) comply with all material requirements of all occupational
                  health and safety laws;

         PROVIDED, that this subsection shall not apply to any of the foregoing

                  (i) if and to the extent that the same shall be contested in
                  good faith by timely and appropriate proceedings which are
                  effective to stay enforcement thereof and against which
                  appropriate reserves shall have been established or

                  (ii) in any other case so long as no default under this
                  agreement would occur or begin to exist if the maximum
                  liability of all such items (including, without limitation,
                  those referred to in clause (i)) were reflected in Borrower's
                  consolidated balance sheet as a current liability.

         3C.07 PROPERTIES -- Each company will maintain all fixed assets
         necessary to its continuing operations in good working order and
         condition, ordinary wear and tear excepted.

                                      -11-
<PAGE>   17

3D. NEGATIVE COVENANTS -- Borrower agrees that so long as the subject
commitments remain in effect and thereafter until all of the subject
indebtedness shall have been paid in full, Borrower will observe, and will cause
each subsidiary to observe, each of the following provisions on their respective
parts to be complied with, namely:

         3D.01 EQUITY TRANSACTIONS -- No company will

                  (a) be a party to any merger or consolidation, PROVIDED, that
                  if no default under this agreement shall then exist and if
                  none would thereupon begin to exist, this clause (a) shall not
                  apply to any merger or consolidation involving only
                  subsidiaries, any merger involving Borrower in which Borrower
                  is the surviving corporation, or any dissolution and
                  liquidation of a subsidiary, or

                  (b) lease as lessor, sell, sell-leaseback or otherwise
                  transfer (whether in one transaction or a series of
                  transactions) all or any substantial part of its fixed assets
                  EXCEPT chattels that shall have become obsolete or no longer
                  useful in its present business.

         3D.02 CREDIT EXTENSIONS -- No company will

                  (a) make or keep any investment in any notes, bonds or other
                  obligations of any kind for the payment of money or make or
                  have outstanding at any time any advance or loan to anyone or

                  (b) be or become a guarantor of any kind;

         PROVIDED, that this subsection shall not apply to

                  (i) any existing or future advance made to an officer or
                  employee of any company solely for the purpose of paying
                  ordinary and reasonable business expenses of that company,

                  (ii) any existing or future investment in direct obligations
                  of the United States of America or any agency thereof, in
                  certificates of deposit issued by Bank, or in any other
                  money-market investment if it carries the highest quality
                  rating of any nationally-recognized rating agency, PROVIDED,
                  that no investment permitted by this clause (ii) shall mature
                  more than ninety (90) days after the date when made,

                  (iii any existing investment, advance, loan or guaranty fully
                  disclosed in Borrower's most recent 4A.02 financial statements
                  or in the supplemental schedule,

                  (iv) any endorsement of a check or other medium of payment for
                  deposit or collection, or any similar transaction in the
                  normal course of business,

                  (v) any existing or future investment, advance or loan,
                  PROVIDED that after giving effect thereto the aggregate amount
                  of all investments, advances and loans

                                      -12-
<PAGE>   18

                  (exclusive of investments, advances and loans permitted under
                  clauses (i), (ii) and (iii) of this subsection 3D.02) made by
                  any one or more of the companies would not at any time exceed
                  an amount equal to fifteen million dollars ($15,000,000),

                  (vi) any existing or future guaranty by a company of any
                  liability owing by another company, or

                  (vii) any existing or future guaranty, PROVIDED that after
                  giving effect thereto, the maximum aggregate amount of all
                  liabilities incurred by any one or more of the companies
                  pursuant to any one or more guaranties (exclusive of
                  guaranties permitted by clauses (iii), (iv) and (vi) of this
                  subsection 3D.02) would not at any time exceed an amount equal
                  to ten million dollars ($10,000,000).

         3D.03 LIENS, LEASES -- No company will

                  (a) ease any property as lessee or acquire or hold any
                  property subject to any land contract, inventory consignment
                  or other title retention contract,

                  (b) ell or otherwise transfer any receivables, whether with or
                  without recourse, except for any sale of receivables
                  classified as bad debts in accordance with GAAP and which, in
                  the aggregate, are in an amount that is immaterial in relation
                  to the seller's aggregate receivables, or

                  (c) suffer or permit any property now owned or hereafter
                  acquired by it to be or become encumbered by any mortgage,
                  security interest, lien or financing statement;

         PROVIDED, that this subsection shall not apply to

                  (i) any tax lien, or any lien securing workers' compensation
                  or unemployment insurance obligations, or any mechanic's,
                  carrier's or landlord's lien, or any lien arising under ERISA,
                  or any security interest arising under article four (Bank
                  deposits and collections) or five (letters of credit) of the
                  Uniformly Commercial Code, or any similar security interest or
                  other lien, EXCEPT that this clause (i) shall apply only to
                  security interests and other liens arising by operation of law
                  (whether statutory or common law) and in the ordinary course
                  of business and shall not apply to any security interest or
                  other lien that secures any indebtedness for borrowed money or
                  any Guaranty thereof or any obligation that is in material
                  default in any manner (other than any default contested in
                  good faith by timely and appropriate proceedings effective to
                  stay enforcement of the security interest or other lien in
                  question),

                  (ii) zoning or deed restrictions, public utility easements,
                  minor title irregularities and similar matters having no
                  adverse effect as a practical matter on the ownership or use
                  of any of the property in question,

                  (iii) any lien securing or given in lieu of surety, stay,
                  appeal or performance bonds, or securing performance of
                  contracts or bids (other than contracts for the

                                      -13-
<PAGE>   19

                  payment of money borrowed), or deposits required by law or
                  governmental regulations or by any court order, decree,
                  judgment or rule or as a condition to the transaction of
                  business or the exercise of any right, privilege or license,
                  EXCEPT that this clause (iii) shall not apply to any lien or
                  deposit securing an obligation that is in material default in
                  any manner (other than any default contested in good faith by
                  timely and appropriate proceedings effective to stay
                  enforcement of the security interest or other lien in
                  question),

                  (iv) any mortgage, security interest or other lien securing
                  only the subject indebtedness,

                  (v) any mortgage, security interest, capitalized lease, or
                  other lien (each, a "purchase money security interest") which
                  is created or assumed in purchasing, constructing or improving
                  any real property or equipment or to which any such property
                  is subject when purchased, PROVIDED, that (A) the purchase
                  money security interest shall be confined to the aforesaid
                  property, (B) the indebtedness secured thereby does not exceed
                  the total cost of the purchase, construction or improvement
                  and (C) any such indebtedness, if repaid in whole or in part,
                  cannot be reborrowed,

                  (vi) any lease other than any capitalized lease (it being
                  agreed that a capitalized lease is a lien rather than a lease
                  for the purposes of this Agreement),

                  (vii) any mortgage, security interest or other lien which (A)
                  is fully disclosed in Borrower's most recent 4A.02 financial
                  statements or in the supplemental schedule and (B) secures
                  only indebtedness that is fully disclosed in Borrower's most
                  recent 4A.02 financial statements or in the supplemental
                  schedule or any renewal or refinancing of any such
                  indebtedness if and to the extent that the renewal or
                  refinancing does not increase the then amount of the
                  indebtedness renewed or refinanced,

                  (viii) any mortgage, security interest or other lien (other
                  than any purchase money security interest) which encumbers any
                  fixed asset of any corporation or other business entity that
                  is not a subsidiary on the date of this Agreement but which
                  becomes, by acquisition, a subsidiary of any company after the
                  date of this Agreement, but only if (A) the mortgage, security
                  interest or other lien in question encumbered the fixed asset
                  in question at the time such subsidiary is acquired and (B)
                  the aggregate amount of all indebtedness secured by mortgages,
                  security interests and other liens permitted by this clause
                  (viii) does not at any time exceed an amount equal to five
                  million dollars ($5,000,000) (or the equivalent thereof if not
                  denominated in U.S. dollars) at any one time outstanding,

                  (ix) any mortgage, security interest or other lien not
                  otherwise permitted under his subsection 3D.03 provided that
                  the aggregate amount of all indebtedness secured by mortgages,
                  security interests and other liens permitted by this clause
                  (ix) does not at any time exceed an amount equal to two
                  million dollars

                                      -14-
<PAGE>   20

                  ($2,000,000) (or the equivalent thereof if not denominated in
                  U. S. dollars) at any one time outstanding, or

                  (viii) any financing statement perfecting a security interest
                  that would be permissible under this subsection.

         3D.04 DIVIDENDS -- Borrower will not make or commit itself to make any
         distribution to its shareholders at any time if any default under this
         agreement shall then exist or would thereupon occur, nor will Borrower
         at any time make any distribution other than any dividend payable
         solely in cash.

4A. CLOSING -- Prior to or at the execution and delivery of this Agreement
Borrower shall have complied or caused compliance with each of the following:

         4A.01 SUBJECT NOTE --Borrower shall have executed and delivered a
         subject note to Bank in accordance with subsection 213.01.

         4A.02 FINANCIAL STATEMENTS -- Borrower shall have furnished to Bank at
         least one true and complete copy of each of the following: Borrower's
         annual audit report (including, without limitation, all financial
         statements therein and notes thereto and the accompanying accountants'
         certificate) prepared as at December 31, 1993 and annual audit reports
         for each of Borrower's two next preceding fiscal years (each having
         been certified by Ernst & Young) and Borrower's unaudited interim
         financial statements prepared as at November 30, 1994. 4A.03
         DOCUMENTATION FEE -- Borrower shall pay Bank a documentation fee of
         five thousand dollars ($5000).

4B. WARRANTIES -- Subject only to such exceptions, if any, as may be set forth
in the supplemental schedule or in Borrower's most recent 4A.02 financial
statements, Borrower represents and warrants as follows:

         4B.01 EXISTENCE -- Borrower is a duly organized and validly existing
         Ohio corporation in good standing. Exhibit D sets forth, as of the date
         of this Agreement, the name of each of Borrower's subsidiaries, the
         address of its chief executive office and the jurisdiction in which it
         is incorporated. Each subsidiary is a duly organized and validly
         existing corporation in good standing where incorporated, and all of
         its outstanding stock is fully paid and non-assessable and owned by
         Borrower free from any security interest, option, equity or other right
         of any kind except to the extent, if any, set forth in Exhibit D. Each
         company is duly qualified to transact business in each state or other
         jurisdiction in which it owns or leases any real property or in which
         the nature of the business conducted makes such qualification necessary
         or, if not so qualified, such failure to qualify will have no material
         adverse effect upon the financial condition of the companies and their
         ability to transact business, all on a consolidated basis.

         4B.02 GOVERNMENTAL RESTRICTIONS -- No registration with or approval of
         any governmental agency of any kind is required on the part of any
         company for the due execution and delivery or for the enforceability of
         this Agreement or any related writing.

                                      -15-
<PAGE>   21

         4B.03 CORPORATE AUTHORITY -- Borrower has requisite corporate power and
         authority to enter into this Agreement and to obtain subject loans in
         accordance with this Agreement. Each officer executing and delivering
         this Agreement or any related writing on behalf of Borrower has in each
         case been duly authorized by that company to do so. Neither any such
         execution and delivery nor any performance and observance by Borrower
         of such of the respective provisions of this Agreement and those
         related writings as are on its part to be complied with will violate
         any existing provision in its articles of incorporation, regulations or
         by-laws or any applicable law or violate or otherwise constitute a
         default under any contract or other obligation now existing and binding
         upon Borrower. This Agreement and each such related writing will, upon
         the execution and delivery thereof, become a valid and binding
         obligation enforceable against Borrower subject, however, to any
         applicable insolvency or Bankruptcy law and general principles of
         equity.

         4B.04 LITIGATION -- No litigation or proceeding is pending against any
         company before any court, administrative agency or arbitrator which
         could reasonably be expected to, if successful, have a material adverse
         effect on the companies on a consolidated basis.

         4B.05 TAXES -- Each company has filed all federal, state and local tax
         returns which are required to be filed by it and paid all taxes due as
         shown thereon (EXCEPT to the extent, if any, permitted by subsection
         3C.01). The Internal Revenue Service has audited Borrower's tax returns
         through the year ended December 31, 1989, and, as of the date of this
         Agreement, is in the process of auditing Borrower's tax returns through
         the year ended December 31, 1992, and has not alleged any material
         default by any company in the payment of any tax material in amount or
         threatened to make any assessment in respect thereof which has not been
         reflected in Borrower's most recent 4A.02 financial statements.

         4B.06 TITLE -- The companies have good and marketable title to all
         assets reflected in Borrower's most recent 4A.02 financial statements
         EXCEPT for changes resulting from transactions in the ordinary course
         of business. All such assets are clear of any mortgage, security
         interest or other lien of any kind other than any permitted by
         subsection 3D.04.

         4B.07 LAWFUL OPERATIONS -- Except if and to the extent that
         non-compliance would not have a material adverse effect on the
         financial condition, operations or properties of the companies on a
         consolidated basis, each company's operations have at all relevant
         times been and continue to be in compliance with all requirements
         imposed by law, whether federal, state or local, whether statutory,
         regulatory or other, including (without limitation) ERISA, all
         environmental laws and occupational safety and health laws and all
         zoning ordinances. Without limiting the generality of the foregoing,

                  (a) no condition exists at, on or under any facility or other
                  property now or previously owned by any company which would
                  give rise to any material liability under any environmental
                  law; and no company has received any notice from any
                  governmental agency, court or anyone else to the effect that
                  (i) such company is a potentially responsible party for any
                  clean-up of any environmental waste site, the cost of which
                  clean-up would be material, (ii) such company is in material

                                      -16-
<PAGE>   22

                  violation of any environmental permit or law or (iii) any
                  property at any time owned or operated by that company has
                  been placed on any registry of solid or hazardous waste
                  disposal site, unless the placement of that property on such
                  registry is unlikely to result in a material liability on the
                  part of that company; and

                  (b) no material accumulated funding deficiency exists in
                  respect of any of the companies' pension plans; and no
                  reportable event has occurred in respect of any such plan
                  which is continuing and which constitutes grounds either for
                  termination of the plan or for court appointment of a trustee
                  for the administration thereof.

         4B.08 INSURANCE -- The companies' insurance coverage complies with the
         standards set forth in subsection 3C.04.

         4B.09 FINANCIAL STATEMENTS -- Each of the financial statements referred
         to in subsection 4A.02 has been prepared in accordance with generally
         accepted accounting principles applied on a basis consistent with those
         used by it during its then next preceding full fiscal year EXCEPT to
         the extent, if any, specifically noted therein and fairly presents in
         all material respects (subject to routine year-end audit adjustments in
         the case of the unaudited financial statements) the consolidated
         financial condition of the companies as of the date thereof (including
         a full disclosure of material contingent liabilities, if any) and the
         consolidated results of their operations, if any, for the fiscal period
         then ending. There has been no material adverse change in the financial
         condition, properties or business of the companies viewed on a
         consolidated basis since the date of Borrower's most recent 4A.02
         financial statements nor any change in their accounting procedures
         since the end of Borrower's latest full fiscal year covered by those
         statements.

         4B.10 DEFAULTS -- No default under this agreement exists, nor will any
         exist immediately after the execution and delivery of this Agreement.

5A. EVENTS OF DEFAULT -- Each of the following shall constitute an event of
default hereunder:

         5A.01 PAYMENTS -- If (a) any debt (other than any principal of any
         subject loan or any debt payable on demand), including, without
         limitation, any subject indebtedness, shall not be paid in full
         promptly when the same becomes due and shall remain unpaid for ten (10)
         consecutive days thereafter, (b) any principal of any subject loan
         shall not be paid in full promptly when the same becomes due or (c) any
         debt payable on demand shall not be paid in full promptly within ten
         (10) consecutive days after any actual demand for payment therefor.

         5A.02 WARRANTIES -- If any representation, warranty or statement made
         in this Agreement or in any related writing referred to in subsection
         4A shall be false or erroneous in any material respect; or if any
         representation, warranty or statement hereafter made by or on behalf of
         any company in any related writing not referred to in section 4A shall
         be false or erroneous in any material respect.

                                      -17-
<PAGE>   23

         5A.03 COVENANTS WITHOUT GRACE -- If any company shall fail or omit to
         perform or observe any provision in sections 3A, 3B or 3D or in
         subsections 3C.02, 3C.03 or 3C.05.

         5A.04 COVENANTS WITH GRACE -- If anyone (other than Bank) shall fail or
         omit to perform and observe any agreement (other than those referred to
         in subsections 5A.01 or 5A.03) contained in this Agreement or any
         related writing that is on its part to be complied with, and that
         failure or omission shall not have been fully corrected within thirty
         (30) days after the giving of written notice to Borrower by Bank that
         it is to be remedied.

         5A.05 CROSS-DEFAULT -- If any indebtedness (other than the subject
         indebtedness) of any company for borrowed money (regardless of
         maturity) or any of its funded indebtedness shall be or become "in
         default" (as defined below) EXCEPT any indebtedness if and only so long
         as the aggregate unpaid principal balance of all such indebtedness in
         default does not exceed five million dollars ($5,000,000) at any one
         time outstanding. In this subsection, ` fa t means that (a) there shall
         have occurred (or shall exist) in respect of the indebtedness in
         question (either as in effect at the date of this Agreement or as in
         effect at the time in question) any event, condition or other thing
         which constitutes, or which with the giving of notice or the lapse of
         any applicable grace period or both would constitute, a default which
         accelerates (or permits any creditor or creditors or representative or
         creditors to accelerate) the maturity of any such indebtedness; or (b)
         any such indebtedness (other than any payable on demand) shall not have
         been paid in full at its stated maturity; or (c) any such indebtedness
         payable on demand shall not have been paid in full within ten (10)
         banking days after any actual demand for payment.

         5A.06 JUDGMENTS/ERISA DEFAULTS -- If at any time (a) the aggregate of
         all undischarged final judgments (excluding any judgments the execution
         of which, on the date of determination, are effectively stayed) against
         the companies or any thereof for the payment of money shall exceed an
         amount equal to five million dollars ($5,000,000), or (b) the aggregate
         of all liabilities of the companies or any thereof arising from
         defaults under ERISA, shall exceed an amount equal to five million
         dollars ($5,000,000).

         5A.07 OWNERSHIP -- If any person or group of persons (as those terms
         are defined in sections 13 and 14 of the Securities Exchange Act of
         1934, as amended), other than those persons identified as officers or
         directors of Borrower in Borrower's 1993 annual report (or their
         respective immediate family members, heirs, devisees, legatees, or
         trusts for the benefit of any of the foregoing), shall at any time have
         or acquire beneficial ownership (within the meaning of Rule 13d 3
         promulgated by the Securities and Exchange Commission under the
         aforementioned act) of shares constituting fifty percent (50%) or more
         of the outstanding equity securities of Borrower.

         5A.08 SOLVENCY -- If (a) any company shall discontinue operations, or
         (b) any company shall commence any insolvency action of any kind or
         admit (by answer, default or otherwise) the material allegations of, or
         consent to any relief requested in, any insolvency action of any kind
         commenced against that company by its creditors or any

                                      -18-
<PAGE>   24

         thereof, or (c) any creditor or creditors shall commence against any
         company any insolvency action of any kind which shall remain in effect
         (neither dismissed nor stayed) for thirty (30) consecutive days.

5B. EFFECTS OF DEFAULT -- Notwithstanding any contrary provision or inference in
this Agreement or in any related writing:

         5B.01 OPTIONAL DEFAULTS -- If any event of default referred to in
         subsection 5A.01 through 5A.07, both inclusive, shall occur and be
         continuing, Bank shall have the right in its discretion, by giving
         written notice to Borrower,

                  (a) to terminate the subject commitment (if not already
                  expired or reduced to zero pursuant to section 2A or
                  terminated pursuant to this section) and Bank shall have no
                  obligation thereafter to grant any subject loan to Borrower,
                  and

                  (b) to accelerate the maturity of all of Borrower's debt to
                  Bank (other than debt, if any, already due and payable), and
                  all such debt shall thereupon become and thereafter be
                  immediately due and payable in full without any presentment or
                  demand and without any further or other notice of any kind,
                  all of which are hereby waived by Borrower.

         5B.02 AUTOMATIC DEFAULTS -- If any event of default referred to in
         subsection 5A.08 shall occur,

                  (a) the subject commitment shall automatically and immediately
                  terminate (if not already expired or reduced to zero pursuant
                  to section 2A or terminated pursuant to this section) and Bank
                  shall have no obligation thereafter to grant any subject loan
                  to Borrower, and

                  b all of Borrower's debt to Bank other than debt if an alread
                  due and payable) shall thereupon become and thereafter be
                  immediately due and payable in full, all without any
                  presentment, demand or notice of any kind, which are hereby
                  waived by Borrower.

         5B.03 OFFSETS -- If there shall occur or exist any default under this
         Agreement referred to in subsection 5A.08, then, so long as that
         default under this Agreement exists, Bank shall have the right at any
         time to set off against and to appropriate and apply toward the payment
         of the subject indebtedness then owing to it, whether or not the same
         shall then have matured, any and all deposit balances then owing by
         Bank to or for the credit or account of Borrower, all without notice to
         or demand upon Borrower, all such notices and demands being hereby
         expressly waived.

6A. INDEMNITY: STAMP TAXES -- Borrower will pay all stamp taxes and similar
taxes, if any, including interest and penalties, if any, payable in respect of
the issuance of the subject indebtedness.

6B. INDEMNITY: GOVERNMENTAL COSTS/FIXED-RATE LOANS -- If

                                      -19-
<PAGE>   25

         (a) there shall be introduced or changed any treaty, statute,
         regulation or other law, or there shall be made any change in the
         interpretation or administration thereof, or there shall be made any
         request from any central bank or other lawful governmental authority,
         the effect of any of which events shall be to (1) impose, modify or
         deem applicable any reserve or special deposit requirements against
         assets held by or deposits in or loans by any national banking
         association (whether or not applicable to Bank) or by Bank or (2)
         subject Bank to any tax, duty, fee, deduction or withholding or (3)
         change the basis of taxation of payments due to Bank from Borrower
         (otherwise than by a change in taxation of Bank's overall net income)
         or (4) impose on Bank any penalty in respect of any fixed-rate loans
         and

         (b) in Bank's sole opinion any such event (1) increases (or, if the
         event were applicable to Bank, would increase) the cost of making,
         funding or maintaining any fixed-rate loan or (2) reduces the amount of
         any payment to be made to Bank in respect of the principal or interest
         on any fixed-rate loan or other payment under this Agreement, then and,
         in each such case, Borrower shall, within fifteen (15) days of Bank's
         demand, pay Bank an amount equal to each such cost increase or reduced
         payment, as the case may be.

6C. INDEMNITY: FUNDING COSTS -- Borrower agrees to indemnify Bank against any
loss relating in any way to its funding of any fixed-rate loan paid before its
stated maturity (whether a prepayment or a payment following any acceleration of
maturity) and to pay Bank, as liquidated damages for any such loss, an amount
(discounted to the present value in accordance with standard financial practice
at a rate equal to the treasury yield) equal to interest computed on the
principal payment from the payment date to the respective stated maturities
thereof at a rate equal to the difference of the contract rate less the treasury
yield, all as determined by Bank in its reasonable discretion. TREASURY YIELD
means the annual yield on direct obligations of the United States having a
principal amount and maturity similar to that of the principal being paid.

6D. CREDIT REQUESTS -- Whenever Borrower shall revoke any credit request for a
fixed-rate loan, or shall for any other reason fail to borrow pursuant thereto
or otherwise comply therewith, or shall fail to honor any prepayment notice,
then, in each case on Bank's demand, Borrower shall pay Bank such amount as will
compensate it for any loss, cost or expense incurred by it by reason of its
liquidation or reemployment of deposits or other funds.

6E. INDEMNITY: UNFRIENDLY TAKEOVERS -- Borrower agrees to indemnify Bank and
hold Bank harmless from and against any and all liabilities, losses, damages,
costs and expenses of any kind (including, without limitation, the reasonable
fees and disbursements of counsel in connection with any investigative,
administrative or judicial proceeding, whether or not Bank shall be designated a
party thereto) which may be incurred by Bank relating to or arising out of any
actual or proposed use of proceeds of the subject loans in connection with the
financing of an acquisition of any corporation or other business entity,
PROVIDED that Bank shall have no right to be indemnified hereunder for its own
gross negligence or willful misconduct as determined by a court of competent
jurisdiction.

6F. INDEMNITY: CAPITAL REQUIREMENTS -- If

                                      -20-
<PAGE>   26

         (a) at any time any governmental authority shall require National City
         Corporation or Bank, whether or not the requirement has the force of
         law, to maintain, as support for the subject commitment, capital in a
         specified minimum amount that either is not required or is greater than
         that required at the date of this Agreement, whether the requirement is
         implemented pursuant to the "risk-based capital guidelines" (published
         at 12 CFR 3 in respect of "national banking associations", 12 CFR 208
         in respect of "state member banks" and 12 CFR 225 in respect of "bank
         holding companies") or otherwise, and

         (b) as a result thereof the rate of return on capital of National City
         Corporation or Bank or both (taking into account their then policies as
         to capital adequacy and assuming full utilization of their capital)
         shall be directly or indirectly reduced by reason of any new or added
         capital thereby allocable to the subject commitment, then, and in each
         such case, Borrower shall, within fifteen (15) days of Bank's demand,
         pay Bank as an additional fee such amounts as will in Bank's reasonable
         opinion reimburse National City Corporation and Bank for any such
         reduced rate of return.

6G. INDEMNITY: COLLECTION COSTS -- If any event of default shall occur and shall
be continuing, Borrower will pay Bank such further amounts, to the extent
permitted by law, as shall cover Bank's costs and expenses (including, without
limitation, the reasonable fees, interdepartmental charges and disbursements of
its counsel) incurred in collecting the subject indebtedness or in otherwise
enforcing its rights and remedies in respect thereof.

6H. CERTIFICATE FOR INDEMNIFICATION -- Each demand by Bank: for payment pursuant
to section 6A, 613, 6C, 6D, 6E, 6F or 6G shall be accompanied by a certificate
setting forth the reason for the payment, the amount to be paid, and the
computations and assumptions in determining the amount, which certificate shall
be presumed to be correct in the absence of manifest error. In determining the
amount of any such payment, Bank may use reasonable averaging and attribution
methods.

7. PARTICIPATION -- Bank shall have the right at any time and from time to time
to sell to any person participations in all or part of the subject loans and the
related writings and this Agreement or any thereof. The provisions of sections
6A, 6B, 6C, 6D, 6E, 6F and 6G shall inure to the benefit of each purchaser of a
participation, provided that each such participant shall look solely to the
seller of its participation for those benefits and Borrower's liabilities, if
any, under any of sections 6A, 613, 6C, 6D, 6E, 6F and 6G shall not be increased
as a result of the sale of any such participation. In addition to, and not in
limitation of, the foregoing, each such participant shall have the right of
setoff in respect of its beneficial interest in amounts owing under the related
writings and this Agreement or any thereof to the same extent as if the
participant's beneficial interest were a legal interest.

8. INTERPRETATION -- This Agreement and the related writings shall be governed
by the following provisions:

         8.01 WAIVERS -- Bank may from time to time in its discretion grant
         Borrower waivers and consents in respect of this Agreement or any
         related writing or assent to amendments thereof, but no such waiver,
         consent or amendment shall be binding upon Bank unless specifically
         granted by Bank in writing, which writing shall be strictly

                                      -21-
<PAGE>   27

         construed. Without limiting the generality of the foregoing, Borrower
         agrees that no course of dealing in respect of, nor any omission or
         delay in the exercise of, any right, power or privilege by Bank shall
         operate as a waiver thereof, nor shall any single or partial exercise
         thereof preclude any further or other exercise thereof or of any other,
         as each such right, power or privilege may be exercised either
         independently or concurrently with others and as often and in such
         order as Bank may deem expedient.

         8.02 CUMULATIVE PROVISIONS -- Each right, power or privilege specified
         or referred to in this Agreement or any related writing is in addition
         to and not in limitation of any other rights, powers and privileges
         that Bank may otherwise have or acquire by operation of law, by other
         contract or otherwise.

         8.03 BINDING EFFECT -- The provisions of this Agreement and the related
         writings shall bind and benefit Borrower and Bank and their respective
         successors and assigns, including each subsequent holder, if any, of
         the subject notes or any thereof; PROVIDED, that no person or entity
         other than Borrower may obtain subject loans; and PROVIDED, further,
         that neither any holder of any subject note or assignee of any subject
         loan, whether in whole or in part, shall thereby become obligated
         thereafter to grant Borrower any subject loan.

         8.04 SURVIVAL OF PROVISIONS -- All representations and warranties made
         in or pursuant to this Agreement or any related writing shall survive
         the execution and delivery of this Agreement and the subject notes. The
         provisions of sections 6A, 613, 6C, 6D, 6E and 6F shall survive the
         payment of the subject indebtedness.

         8.05 IMMEDIATE U.S. FUNDS -- Any reference to money is a reference to
         lawful money of the United States of America which, if in the form of
         credits, shall be in immediately available funds.

         8.06 CAPTIONS -- The several captions to different sections and
         subsections of this Agreement are inserted for convenience only and
         shall be ignored in interpreting the provisions thereof.

         8.07 SUBSECTIONS -- Each reference to a section includes a reference to
         all subsections thereof (i.e., those having the same character or
         characters to the left of the decimal point) EXCEPT where the context
         clearly does not so permit.

         8.08 ILLEGALITY -- If any provision in this Agreement or any related
         writing shall for any reason be or become illegal, void or
         unenforceable, that illegality, voidness or unenforceability shall not
         affect any other provision.

         8.09 OHIO LAW -- This Agreement and the related writings and the
         respective rights and obligations of the parties hereto shall be
         construed in accordance with and governed by internal Ohio law.

         8.10 INTEREST/FEE COMPUTATIONS -- All interest and all fees for any
         given period shall accrue on the first day thereof but not on the last
         day thereof and in each case shall be computed on the basis of a
         360-day year and the actual number of days elapsed.

                                      -22-
<PAGE>   28

         In no event shall interest accrue at a higher rate than the maximum
         rate, if any, permitted by 1aw.

         8.11 NOTICE -- A notice to or request of Borrower shall be deemed to
         have been given or made under this Agreement or any related writing
         either upon the delivery of a writing to that effect (either in person
         or by transmission of a telecopy) to an officer of Borrower or five (5)
         days after a writing to that effect shall have been deposited in the
         United States mail and sent, with postage prepaid, by registered or
         certified mail, properly addressed to Borrower (Attention: chief
         financial officer). No other method of actually giving actual notice to
         or making a request of Borrower is hereby precluded. Every notice
         required to be given to Bank pursuant to this Agreement or any related
         writing shall be delivered (either in person or by transmission of a
         telecopy) to an account officer of Bank. A notice or request by mail is
         properly addressed to a party when addressed to it at the address set
         forth opposite its signature below or at such other address as that
         party may furnish to each of the others in writing for that purpose. A
         telecopy is transmitted to a party when transmitted to the telecopy
         number set forth opposite that party's signature below (or at such
         other telecopy number as that party may furnish to the other in writing
         for that purpose).

         8.12 ACCOUNTING TERMS -- Any accounting term used in this Agreement
         shall have the meaning ascribed thereto by GAAP subject, however, to
         such modification, if any, as may be provided by section 9 or elsewhere
         in this Agreement.

         8.13 ENTIRE AGREEMENT -- This Agreement and the related writings
         referred to in or otherwise contemplated by this Agreement set forth
         the entire agreement of the parties as to the transactions contemplated
         by this Agreement.

         8.14 WAIVER OF JURY TRIAL -- The parties acknowledge and agree that any
         controversy that may arise under this Agreement and the related
         writings would involve difficult and complex issues and therefore agree
         that any law suit growing out of or incidental to any such controversy
         will be tried in a court of competent jurisdiction by a judge sitting
         without a jury.

         8.15 LATE CHARGE; APPLICATION OF PAYMENTS -- If Borrower fails to pay
         any amount due hereunder, or any fee in connection herewith, in full
         within ten (10) days after its due date, Borrower will, in each case,
         incur and shall pay a late charge equal to the greater of twenty
         dollars ($20.00) or five percent (5%) of the unpaid amount. The payment
         of a late charge will not cure or constitute a waiver of any event of
         default under this Agreement. Except as otherwise agreed in writing,
         payments will be applied first to accrued but unpaid interest and fees,
         in that order, on an invoice by invoice basis in the order of their
         respective due dates, until paid in full, then to late charges and then
         to principal.

         8.16 CONFIDENTIALLY -- Bank agrees that if that it obtains, pursuant to
         subsection 3C.03, any information not otherwise in Bank's possession,
         Bank will not disclose the information so obtained; PROVIDED that
         nothing contained in this subsection 8.16 shall prohibit Bank from
         disclosing any such information (a) to persons employed by Bank, (b)

                                      -23-
<PAGE>   29

         to persons retained by Bank, including, without limitation,
         accountants, attorneys, auditors, and other advisors and consultants,
         provided that any such other advisor or consultant to whom disclosure
         is made pursuant to this clause (b) agrees to be bound by the
         provisions of this subsection 8.16, (c) to any actual or prospective
         participant or assignee of all or part of Bank's rights arising out of
         or in connection with the related writings and this Agreement or any
         thereof, provided that the person to whom disclosure is made pursuant
         to this clause (c) agrees to be bound by the provisions of this
         subsection 8.16, (d) upon the demand, order or request of any court or
         administrative agency or other regulatory authority, whether or not
         such demand, order or request has the force and effect of law, (e) to
         anyone. if it shall have been already publicly disclosed other than in
         contravention of this subsection 8.16, and (f) as may be required by
         subpoena or other legal process, or in connection with the exercise of
         an)- right or remedy under this Agreement or any related writing.

9. DEFINITIONS -- As used in this Agreement and in the related writings, EXCEPT
where the context clearly requires otherwise,

         ACCOUNT OFFICER means that officer who at the time in question is
         designated by Bank as the officer having primary responsibility for
         giving consideration to Borrower's requests for credit or, in that
         officer's absence, that officer's immediate superior or any other
         officer who reports directly to' that superior officer;

         ACCUMULATED FUNDING DEFICIENCY shall have the meaning ascribed thereto
         in section 302(a)(2) of ERISA;

         AGREEMENT means this Agreement and includes each amendment, if any, to
         this Agreement;

         BANK is defined in the first paragraph of this Agreement;

         BANKING DAY means (a) in the case of a LIBOR loan, a day on which banks
         in the London Interbank Market deal in United States dollar deposits
         and on which banking institutions are generally open for domestic and
         international business in Cleveland, Ohio and in New York City and (b)
         in any other case, any day other than a Saturday or a Sunday or a
         public holiday or other day on which banking institutions in Cleveland,
         Ohio, are generally closed and do not conduct a general banking
         business;

         BORROWER is defined in the first paragraph of this Agreement;

         COMPANY refers to Borrower or to a subsidiary of Borrower, as the case
         may be;

         CONTRACT PERIOD is defined in subsection 213.07;

         CREDIT REQUEST means a request made pursuant to subsection 213.02;

         CURRENT ASSETS means the net book value of all such assets (after
         deducting applicable reserves, if any, and without consideration to any
         reappraisal or write-up of assets) as determined in accordance with
         GAAP;

                                      -24-
<PAGE>   30

         CURRENT LIABILITIES means all such liabilities as determined in
         accordance with GAAP and includes (without limitation) all accrued
         taxes and all principal of any funded indebtedness maturing within
         twelve months of the date of determination;

         DEBT means, collectively, all liabilities of the party or parties in
         question to Bank, whether owing by one such party alone or with one or
         more others in a joint, several, or joint and several capacity, whether
         now owing or hereafter arising, whether owing absolutely or
         contingently, whether created by loan, overdraft, guaranty of payment
         or other contract or by quasi-contract or tort, statute or other
         operation of law or other, and whether participated to or from Bank in
         whole or in part; and in the case of Borrower includes, without
         limitation, the subject indebtedness;

         DEFAULT UNDER ERISA means (a) the occurrence or existence of a material
         accumulated funding deficiency in respect of any of the companies'
         respective pension plans, (b) any failure by the companies to make a
         full and timely payment of premiums required by ERISA for insurance
         against any employer's liability in respect of any such plan, (c) any
         material breach of a fiduciary duty by any company or trustee in
         respect of any such plan or (d) the existence of any action for the
         forceable termination of any such plan;

         DEFAULT UNDER THIS AGREEMENT means an event, condition or thing which
         constitutes (or which with the lapse of any applicable grace period or
         the giving of notice or both would constitute) an event of default
         referred to in section SA and which has not been appropriately waived
         in writing in accordance with this Agreement or corrected to Bank's
         full satisfaction;

         DISTRIBUTION means a payment made, liability incurred or other
         consideration (other than any stock dividend or stock split payable
         solely in capital stock of Borrower) given by any company for the
         purchase, acquisition, redemption or retirement of any capital stock of
         Borrower or as a dividend, return of capital or other distribution in
         respect of Borrower's capital stock; and DISTRIBUTE means to make a
         distribution;

         ENVIRONMENTAL LAW means the comprehensive Environmental Response,
         compensation, and Liability Act (42 USC 9601 et seq.), the Hazardous
         Material Transportation Act (49 USC 1801 et seq.), the Resource
         Conservation and Recovery Act (42 USC 6901 et seq.), the Federal Water
         Pollution Control Act (33 USC 1251 et seq.), the Toxic Substances
         Control Act (15 USC 2601 et seq.) and the Occupational Safety and
         Health Act (29 USC 651 et seq.), as such laws have been or hereafter
         may be amended, and any and all analogous future federal, or present or
         future state or local, statutes and the regulations promulgated
         pursuant thereto;

         ERISA means the Employee Retirement Income Security Act of 1974 (P.L.
         93-406) as amended from time to time and in the event of any amendment
         affecting any section thereof referred to in this Agreement, that
         reference shall be a reference to that section as amended,
         supplemented, replaced or otherwise modified;

         ERISA REGULATOR means any governmental agency (such as the Department
         of Labor, the Internal Revenue Service and the Pension Benefit Guaranty
         Corporation) having any

                                      -25-
<PAGE>   31

         regulatory authority over any of the companies' pension plans; EVENT OF
         DEFAULT is defined in section 5A;

         EXPIRATION DATE means the date referred to as such in subsection 2A.02,
         EXCEPT that in the event of any extension pursuant to subsection 2A.05,
         EXPIRATION DATE shall mean the latest date to which the subject
         commitment shall have been so extended;

         FEDERAL FUNDS RATE means a fluctuating interest rate per annum, as in
         effect at the time in question, that is the rate determined by Bank to
         be the opening federal funds rate per annum paid or payable by it on
         the day in question in its regional federal funds market for overnight
         borrowings from other banking institutions; FIXED-RATE LOAN means a
         subject loan that is not a RR loan;

         FUNDED INDEBTEDNESS means indebtedness of the person or entity in
         question which matures or which (including each renewal or extension,
         if any, in whole or in part) remains unpaid for more than twelve months
         after the date originally incurred and includes, without limitation (a)
         any indebtedness (regardless of its maturity) if it is renewable or
         refundable in whole or in part solely at the option of that person or
         entity (in the absence of default) to a date more than one year after
         the date of determination, (b) any capitalized lease, (c) any guaranty
         of funded indebtedness owing by another person or entity and (d) any
         funded indebtedness secured by a security interest, mortgage or other
         lien encumbering any property owned or being acquired by the person or
         entity in question even if the full faith and credit of that person or
         entity is not pledged to the payment thereof; PROVIDED, that in the
         case of any indebtedness payable in installments or evidenced by serial
         notes or calling for sinking fund payments, those payments maturing
         within twelve months after the date of determination shall be
         considered current indebtedness rather than funded indebtedness for the
         purposes of subsection 313.03 but shall be considered funded
         indebtedness for all other purposes;

         GAAP means generally accepted accounting principles applied in a manner
         consistent with those used in Borrower's latest fiscal year-end
         financial statements referred to in subsection 4A.02;

         GUARANTOR means one who pledges his credit or property in any manner
         for the payment or other performance of the indebtedness, contract or
         other obligation of another and includes (without limitation) any
         guarantor (whether of collection or payment), any obligor in respect of
         a standby letter of credit or surety bond issued for the obligor's
         account, any surety, any co-maker, any endorser, and anyone who agrees
         conditionally or otherwise to make any loan, purchase or investment in
         order thereby to enable another to prevent or correct a default of any
         kind; and GUARANTY means the obligation of a guarantor;

         INSIDER, as applied to subordinated indebtedness, refers to
         subordinated indebtedness which at the time in question is owing to any
         person who is a director or officer of Borrower or who is the record
         and beneficial owner of ten percent (10%) or more of Borrower's capital
         stock or who is a member of the immediate family of any such director,
         officer or stockholder;

                                      -26-
<PAGE>   32

         INSOLVENCY ACTION means either (a) a pleading of any kind filed by the
         person, corporation or entity (an "insolvent") in question to seek
         relief from the insolvent's creditors, or filed by the insolvent's
         creditors or any thereof to seek relief of any kind against that
         insolvent, in any court or other tribunal pursuant to any law (whether
         federal, state or other) relating generally to the rights of creditors
         or the relief of debtors or both, or (b) any other action of any kind
         commenced by an insolvent or the insolvent's creditors or any thereof
         for the purpose of marshalling the insolvent's assets and liabilities
         for the benefit of the insolvent's creditors; and INSOLVENCY ACTION
         includes (without limitation) a petition commencing a case pursuant to
         any chapter of the federal bankruptcy code, any application for the
         appointment of a receiver, trustee, liquidator or custodian for the
         insolvent or any substantial part of the insolvent's assets, and any
         assignment by an insolvent for the general benefit of the insolvent's
         creditors;

         LIBO PRE-MARGIN RATE means the rate per annum (rounded upwards, if
         necessary, to the next higher 1/16 of 1%), as determined by Bank which
         equals the average rate per annum at which deposits in United States
         dollars are offered for deposits of the maturity and amount in
         question, at 11:00 A.M. London time (or as soon thereafter as
         practicable) two banking days prior to the first day of the contract
         period in question, to Bank by prime banking institutions in any
         Eurodollar market reasonably selected by Bank;

         LIBOR LOAN means a subject loan having a contract period described in
         clause (b) of subsection 2B.07 and bearing interest in accordance with
         clause (b) of subsection 2B.1 l;

         AIM LOAN means a subject loan having a contract period described in
         clause (a) of subsection 2B.07 and bearing interest in accordance with
         clause (a) of subsection 2B.11;

         MONEY MARKET RATE means the rate per as determined by Bank in its sole
         discretion, on the first day of the contract period in question, and
         then quoted by Bank to Borrower as the rate which, if elected by
         Borrower at the time of Bank's quotation, will be applicable during
         that contract period to an MM loan of the principal amount in question;

         MOST RECENT 4A.02 FINANCIAL STATEMENTS means Borrower's most recent
         financial statements that are referred to in subsection 4A.02;

         NET INCOME means net income as determined in accordance with GAAP,
         after taxes and after extraordinary items, but without giving effect to
         any gain resulting from any reappraisal or write-up of any asset;

         NET WORTH means the excess (as determined on a consolidated basis and
         in accordance with GAAP) of the net book value (after deducting all
         applicable valuation reserves and without consideration to any
         reappraisal or write-up of assets) of the tangible assets (i.e., all
         assets other than intangibles such as patents, costs of businesses over
         net assets acquired, good will and treasury stock) of the company or
         companies in question over their total liabilities;

         PENSION PLAN means a defined benefit plan (as defined in section 3(35)
         of ERISA) of the companies or any thereof and includes, without
         limitation, any such plan that is a multi-

                                      -27-
<PAGE>   33

         employer plan (as defined in section 3(37) of ERISA) applicable to any
         of the companies' employees;

         PRIME RATE means the fluctuating rate of interest which is publicly
         announced from time to time by Bank at its principal place of business
         as being its "prime rate" or "base rate" thereafter in effect, with
         each change in the prime rate automatically, immediately and without
         notice changing the fluctuating interest rate thereafter applicable
         hereunder, it being agreed that the prime rate is not necessarily the
         lowest rate of interest then available from Bank on fluctuating rate
         loans; PRIOR a means a short-term loan or a term loan;

         RECEIVABLE means a claim for money due or to become due, whether
         classified as an account, instrument, chattel paper, general
         intangible, incorporeal hereditament or otherwise, and any proceeds of
         the foregoing;

         REFERENCE RATE means, on any given date, either the prime rate in
         effect for that day or a rate equal to one percent (1%) per annum plus
         the federal funds rate in effect for that day, whichever rate shall be
         the higher for that day;

         RELATED WRITING means any note, mortgage, security agreement, other
         lien instrument, financial statement, audit report, notice, legal
         opinion, credit request, officer's certificate or other writing of any
         kind which is delivered to the Bank and which is relevant in any manner
         to this Agreement or any related writing and includes, without
         limitation, the subject notes and the other writings referred to in
         sections 3A and 4A;

         REPORTABLE EVENT has the meaning ascribed thereto by ERISA;

         RR LOAN means a subject loan maturing in the manner described in the
         first sentence of subsection 2B.08 and bearing interest in accordance
         with subsection 2B.10;\

         SHORT-TERM LOAN is defined in paragraph B of the introduction to this
         Agreement;

         SHORT-TERM NOTE is defined in paragraph B of the introduction to this
         Agreement;

         SUBJECT COMMITMENT means Bank's commitment to extend credit to Borrower
         pursuant to sections 2A and 2B of this Agreement and upon the terms,
         subject to the conditions of this Agreement and in accordance with the
         other provisions of this Agreement;

         SUBJECT INDEBTEDNESS means, collectively, the principal of and interest
         on the subject loans and all fees and other liabilities, if any,
         incurred by Borrower to Bank pursuant to this Agreement or any related
         writing;

         SUBJECT LOAN means a loan obtained by Borrower pursuant to this
         Agreement, or a prior loan that is deemed to be an RR loan pursuant to
         subsection 2B.16;

         SUBJECT NOTE means a note executed and delivered by Borrower and being
         in the form and substance of Exhibit B with the blanks appropriately
         filled;

                                      -28-
<PAGE>   34

         SUBORDINATED, as applied to any liability of Borrower, means a
         liability which at the time in question is subordinated (by written
         instrument in form and substance satisfactory to Bank in favor of the
         prior payment in full of Borrower's debt to Bank;

         SUBSIDIARY means a corporation or other business entity if shares
         constituting a majority of its outstanding capital stock (or other form
         of ownership) or constituting a majority of the voting power in any
         election of directors (or shares constituting both majorities) are (or
         upon the exercise of any outstanding warrants, options or other rights
         would be) owned directly or indirectly at the time in question by the
         corporation in question or another SUBSIDIARY of that corporation or
         any combination of the foregoing;

         SUPPLEMENTAL SCHEDULE means the schedule incorporated into this
         Agreement as Exhibit A;

         TERM LOAN is defined in paragraph A of the introduction to this
         Agreement;

         TERM NOTE is defined in paragraph A of the introduction to this
         Agreement;

         TOTAL LIABILITIES means the aggregate (without duplication) of all
         liabilities of the entity or entities in question and includes, without
         limitation. (a) any, indebtedness which is secured by any mortgage,
         security interest or other lien on any of their property even if the
         full faith and credit of none of them is pledged to the payment
         thereof, (b) any indebtedness for borrowed money or funded indebtedness
         of any kind if any such corporation or corporations is a guarantor
         thereof and (c) any subordinated indebtedness; PROVIDED, that there
         shall be excluded any liability under a reimbursement agreement
         relating to a letter of credit issued to finance the importation or
         exportation of goods;

         WHOLLY-OWNED, as applied to a subsidiary, means that all of the
         outstanding shares of stock and all of the outstanding warrants,
         options and other rights to purchase stock, other than directors'
         qualifying shares, are held of record and beneficially owned by
         Borrower;

         the foregoing definitions shall be applicable to the respective plurals
         of the foregoing defined terms.

         [The remainder of this page has been intentionally left blank.]

                                      -29-
<PAGE>   35

Address:                                   Preformed Line Products Company
   660 Beta Drive
   Mayfield Village, Ohio 44143
   telecopy: (216) 473-93193
                                           By: /s/ John J. Herda
                                              ---------------------------------
                                                John J. Herda, Vice President
                                                  and Chief Financial Officer

Address:                                   National City Bank
   1900 East Ninth Street
   Cleveland, Ohio 44114-3484
   Telecopy: (216) 575-9396
   Attn: Metro/Ohio Division               By: /s/ Terry A. Wolford
                                              ---------------------------------
                                                Terry A. Wolford, Vice President

                                      -30-
<PAGE>   36

                              SUPPLEMENTAL SCHEDULE

There is no item which Borrower must disclose in this supplemental schedule in
order to be in full compliance with subsections 3D.01, 3D.02, 3D.03 and 3D.04,
nor is there any addition or exception to the representations and warranties in
section 4B.

                                    EXHIBIT A

<PAGE>   37

                               EXTENSION AGREEMENT

This extension agreement made as of March 20, 1996 by and between Preformed Line
Products Company (BORROWER) and National City Batik (BANK):

The parties have executed and delivered a certain credit agreement dated
December 30, 1994 which provides for, among other things, a subject commitment
aggregating $15,000,000 and available to Borrower, upon certain terms and
conditions until December 31, 1997 (the EXPIRATION DATE now in effect) subject
to any earlier reduction or termination pursuant to the credit agreement

In consideration of our mutual agreements and for other valuable considerations,
the parties agree that subsection 2A.02 of the credit agreement (captioned
"TERM") is hereby amended by deleting the date December 31, 1997 and by
substituting therefor the date "December 31, 1998", which tarter date shall be
the EXPIRATION DATE hereafter in effect.

1n all other respects the credit agreement shall remain in full effect.

                                       Preformed Line Products Company

                                       By  /s/ John J. Herda
                                          ------------------------------------
                                          Vice President - Finance

                                       National City Bank

                                       By  /s/ Terry A. Wolford
                                          ------------------------------------
                                          Vice President

                                    EXHIBIT C

<PAGE>   38

                               EXTENSION AGREEMENT

This extension agreement made as of April 30, 1998 by and between Preformed Line
Products Company (BORROWER) and National City Bank (BANK):

The parties have executed and delivered a certain credit agreement dated
December 30, 1994 and amended November 30, 1997 which provides for, among other
things, a subject aggregating $40,000,000 and available to Borrower, upon
certain terms and conditions until December 31, 2000 (the EXPIRATION DATE now in
effect) subject to any earlier reduction or termination pursuant to the credit
agreement.

In consideration of our mutual agreements and for other valuable considerations,
the parties agree that subsection 2A.02 of the credit agreement (captioned
"TERM") is hereby amended by deleting the date December 31 , 2000 and by
substituting therefor the date "December 31, 2001", which latter date shall be
the expiration date hereafter in effect.

In all other respects the credit agreement shall remain in full effect.

                                       Preformed Line Products Company

                                       By /s/ John J. Herda
                                          -----------------------------------
                                          John J. Herda
                                          Vice President - Finance

                                       National City Bank

                                       By /s/ Terry A. Wolford
                                          -----------------------------------
                                          Vice President

                                    EXHIBIT C

<PAGE>   39

                               EXTENSION AGREEMENT

This extension agreement made as of JUNE 9, 2000 by and between Preformed Line
Products Company (Borrower) and National City Bank (Bank):

The parties have executed and delivered a certain credit agreement dated
December 30, 1994 and amended November 30, 1997 which provides for, among other
things, a subject aggregating $40,000,000 and available to Borrower, upon
certain terms and conditions until DECEMBER 31, 2001 (the EXPIRATION DATE now in
effect) subject to any earlier reduction or termination pursuant to the credit
agreement.

In consideration of our mutual agreements and for other valuable considerations,
the parties agree that subsection 2A.02 of the credit agreement (captioned
"TERM") is hereby amended by deleting the date DECEMBER 31, 2001 and by
substituting therefor the date "DECEMBER 31, 2002", which latter date shall be
the EXPIRATION DATE hereafter in effect.

In all other respects the credit agreement shall remain in full effect.

                                       Preformed Line Products Company

                                       By /s/ Eric R. Graef
                                         ---------------------------------
                                         Eric R. Graef
                                         Vice President - Finance

                                       National City Bank

                                       By /s/ Terry A. Wolford
                                         ---------------------------------
                                         Vice President

                                    EXHIBIT C
<PAGE>   40

                       FIRST AMENDMENT TO CREDIT AGREEMENT

         THIS FIRST AMENDMENT TO CREDIT AGREEMENT is made and entered into as of
the 30th day of November, 1997, by and between PREFORMED LINE PRODUCTS COMPANY,
an Ohio corporation with its principal office and place of business in Mayfield
Village, Ohio (the "Borrower") and NATIONAL CITY BANK, a national banking
association with its principal office and place of business in Cleveland, Ohio
(the "Bank").

                                   WITNESSETH:

         WHEREAS, the Borrower and the Bank are parties to that certain Credit
Agreement dated December 30, 1994 (the "Credit Agreement");

         WHEREAS, the Borrower and the Bank mutually desire to amend the Credit
Agreement in order to increase the amount of the Subject Commitments from
Fifteen Million and No/ 100ths Dollars ($15,000,000.00) to Forty Million and
No/100ths Dollars ($40,000,000.00) in two (2) Tranches, extend the expiration
date and modify the commitment fee applicable to the Subject Commitments.

         NOW, THEREFORE, the Borrower and the Bank hereby agree as follows:

         1. Section 2A. SUBJECT COMMITMENTS of the Credit Agreement is hereby
amended to read in its entirety as follows:

         2A. SUBJECT COMMITMENTS -- The basic terms of the Subject Commitments
and the compensation therefor are as follows:

                  2A.01 AMOUNT -- The aggregate amount of the Subject
                  Commitments is Forty Million Dollars ($40,000,000) consisting
                  of two (2) Tranches. The Tranche A Subject Commitment being in
                  the amount of Twenty Million Dollars ($20,000,000) and the
                  Tranche B Subject Commitment being in the amount of Twenty
                  Million Dollars ($20,000,000). The Tranche B Subject
                  Commitment shall only become effective when activated by
                  Borrower. Borrower may activate the Tranche B Subject
                  Commitment, if no default under this Agreement shall have
                  occurred and be continuing, by written notice to Bank given on
                  and after the effective date of this Amendment. The Subject
                  Commitments may be reduced from time to time pursuant to
                  subsection 2A.03 and the Subject Commitments may be terminated
                  pursuant to section 5B.

                  2A.02 TERM -- The Subject Commitment shall commence as of the
                  date of this Agreement and shall remain in effect on a
                  revolving basis until December 31, 1997 (the EXPIRATION DATE)
                  EXCEPT that a later Expiration Date may be established from
                  time to time pursuant to subsection 2A.05 and EXCEPT that the
                  Subject Commitment shall end in any event upon any earlier
                  reduction thereof to zero pursuant to subsection 2A.03 or any
                  earlier termination pursuant to section 5B.

<PAGE>   41

                  2A.03 OPTIONAL REDUCTIONS -- Borrower shall have the right, at
                  all times and without the payment of any penalty or premium,
                  to permanently reduce the amount of the Subject Commitment by
                  giving Bank one Banking Day's prior written notice of the
                  amount of each such reduction and the effective date thereof
                  subject, however, to the following:

                           (a) No such reduction shall reduce the subject
                           commitment to a lesser aggregate amount than the sum
                           of the aggregate unpaid principal balance of the
                           fixed-rate loans then outstanding plus the aggregate
                           unpaid principal balance of any fixed-rate loans to
                           be obtained pursuant to any unfulfilled credit
                           request under subsection 2B.02.

                           (b) Concurrently with each reduction Borrower shall
                           prepay such part, if any, of the principal of the
                           subject loans then outstanding as may be in excess of
                           the amount of the subject commitment as so reduced.
                           Subsection 213.13 and section 6C shall apply to each
                           such prepayment.

                  2A.04 COMMITMENT FEE -- Borrower agrees to pay Bank a
                  commitment fee

                           (a) based on the average daily difference between the
                           amount of the subject commitment from time to time in
                           effect and the aggregate unpaid principal balance of
                           the subject loans then outstanding,

                           (b) computed (on the basis of a 360-day year and the
                           actual number of days elapsed) at a rate of one-fifth
                           of one percent (1/5%) per annum so long as the
                           subject commitment remains in effect and

                           (c) payable in arrears on April 1, 1995 and on the
                           first day of each July 1, October 1, January 1, and
                           April 1 thereafter and at the end of the subject
                           commitment.

                  2A.05 EXTENSION OF SUBJECT COMMITMENT -- Whenever Borrower
                  furnishes its audited financial statements to Bank pursuant to
                  clause (b) of subsection 3A.01, commencing with Borrower's
                  audited financial statements for its fiscal year ending
                  December 31, 1995, Borrower may request that the subject
                  commitment be extended one year to the December 31 next
                  following the expiration date then in effect. Bank agrees to
                  give consideration to each such request; but in no event shall
                  Bank be committed to extend the subject commitment, nor shall
                  the subject commitment be so extended, unless and until both
                  Borrower and Bank shall have executed and delivered an
                  extension agreement substantially in the form of Exhibit C
                  with the blanks appropriately filled.

         2. Subsection 3B.04..PRETAX INTEREST COVERAGE of the Credit Agreement
is hereby amended to read in its entirety as follows:

                                      -2-
<PAGE>   42

                  3B.04 PRETAX INTEREST COVERAGE -- Borrower will not suffer or
                  permit the aggregate, determined as of the last day each
                  fiscal quarter (commencing with the present fiscal quarter),
                  of

                           (a) the net income of the companies for the previous
                           four (4) quarters plus

                           (b) the aggregate interest expense of the companies
                           for the previous four (4) quarters plus

                           (c) the aggregate federal, state and local income
                           taxes of the companies for the previous four (4)
                           quarters

                  to be less than an amount equal to three hundred percent
                  (300%) of the aggregate interest expense of the companies for
                  the previous four quarters, all as determined on a
                  consolidated basis.

         3. From and after the effective date of this First Amendment,
references in the Credit Agreement shall be deemed to be references to the
Credit Agreement as amended hereby.

         This First Amendment and the modifications set forth herein shall be
and become effective as of the date hereof.

         Except for the modifications set forth in this First Amendment, the
Credit Agreement referred to above, as amended, is ratified and affirmed and
shall be binding upon the parties, their successors and assigns.

         IN WITNESS WHEREOF, the parties hereto have cause this First Amendment
to Credit Agreement to be duly executed.

NATIONAL CITY BANK                           PREFORMED LINE PRODUCTS COMPANY

By:/s/ Terry A. Wolford                      By: /s/ John J. Herda
   --------------------------                    ----------------------------

Title: Vice President                        Title: Vice President - Finance
      -----------------------                       ----------------------------

                                      -3-
<PAGE>   43

                      SECOND AMENDMENT TO CREDIT AGREEMENT

         THIS SECOND AMENDMENT TO CREDIT AGREEMENT is made and entered into as
of the 6th day of July, 2000, by and between PREFORMED LINE PRODUCTS COMPANY, an
Ohio corporation with its principal office and place of business in Mayfield
Village, Ohio (the "Borrower") and NATIONAL CITY BANK, a national banking
association with its principal office and place of business in Cleveland, Ohio
(the "Bank").

                                   WITNESSETH:

         WHEREAS, the , as amended by a First Amendment to Credit Agreement
dated November 30, 1997, (the "Credit Agreement");

         WHEREAS, the Borrower and the Bank mutually desire to amend the Credit
Agreement in order to extend the expiration date and amend the Net Worth
financial covenant.

         NOW, THEREFORE, the Borrower and the Bank hereby agree as follows:

         1. Section 2A.02 TERM of the Credit Agreement is hereby amended to read
in its entirety as follows:

                  2A.02 TERM -- The Subject Commitments shall commence as of the
                  date of this Agreement and shall remain in effect on a
                  revolving basis until December 31, 2002 (the EXPIRATION DATE)
                  EXCEPT that a later Expiration Date may be established from
                  time to time pursuant to subsection 2A.05 and EXCEPT that the
                  Subject Commitments shall end in any event upon any earlier
                  reduction thereof to zero pursuant to subsection 2A.03 or any
                  earlier termination pursuant to section 5B.

         2. Subsection 3B.01 NET WORTH of the Credit Agreement is hereby amended
to read in its entirety as follows:

                  3B.01 NET WORTH -- Borrower will not suffer or permit the
                  consolidated net worth (exclusive of the cumulative foreign
                  currency translation adjustment component thereof as reflected
                  in Borrower's financial statements) of the companies at any
                  time to be less than eighty-five million dollars
                  ($85,000,000).

         3. From and after the effective date of this Second Amendment,
references in the Credit Agreement shall be deemed to be references to the
Credit Agreement as amended hereby.

         This Second Amendment and the modifications set forth herein shall be
and become effective as of the date hereof.

         Except for the modifications set forth in this Second Amendment, the
Credit Agreement referred to above, as amended, is ratified and affirmed and
shall be binding upon the parties, their successors and assigns.

<PAGE>   44

         IN WITNESS WHEREOF, the parties hereto have cause this Second Amendment
to Credit Agreement to be duly executed.

NATIONAL CITY BANK                          PREFORMED LINE PRODUCTS COMPANY

By: /s/ Terry A. Wolford                    By:  /s/ Eric R. Graef
   -------------------------                    --------------------------------

Title: Vice President                       Title:  Vice President - Finance
      ----------------------                      ------------------------------

                                      -2-

<PAGE>   45

                            TRANCHE A PROMISSORY NOTE

$20,000,000                      Cleveland, Ohio               November 30, 1997

FOR VALUE RECEIVED, the undersigned, Preformed Line Products Company (BORROWER),
an Ohio corporation, promises to pay to the order of NATIONAL CITY BANK, at the
payee's main office in Cleveland, Ohio, the principal sum of

                             TWENTY MILLION DOLLARS

(or, if less, the aggregate unpaid principal balance from time to time shown on
the reverse side), together with interest computed thereon in accordance with
the credit agreement referred to below, which principal and interest is payable
in accordance with the provisions in the credit agreement.

This note is issued pursuant to a certain Agreement (the "credit agreement")
made as of December 30, 1994, as amended, by and between the payee and Borrower.
The credit agreement contains definitions applicable to this note, provisions
governing the making of loans, the acceleration of the maturity thereof, rights
of prepayment and other provisions applicable to this note. Each endorsement, if
any, on the reverse side of this note (or any allonge thereto) shall be prima
facie evidence of the data so endorsed.

Address:                                       Preformed Line Products Company
   660 Beta Drive
   Mayfield Village, Ohio  44143               By: /s/ John J. Herda
                                                  ------------------------------
                                                  John J. Herda, Vice President
                                                    and Chief Financial Officer

<PAGE>   46

                            TRANCHE A PROMISSORY NOTE

$20,000,000                      Cleveland, Ohio              November 30, 1997

FOR VALUE RECEIVED, the undersigned, Preformed Line Products Company (BORROWER),
an Ohio corporation, promises to pay to the order of NATIONAL CITY BANK, at the
payee's main office in Cleveland, Ohio, the principal sum of

                             TWENTY MILLION DOLLARS

(or, if less, the aggregate unpaid principal balance from time to time shown on
the reverse side), together with interest computed thereon in accordance with
the credit agreement referred to below, which principal and interest is payable
in accordance with the provisions in the credit agreement.

This note is issued pursuant to a certain Agreement (the "credit agreement")
made as of December 30, 1994, as amended, by and between the payee and Borrower.
The credit agreement contains definitions applicable to this note, provisions
governing the making of loans, the acceleration of the maturity thereof, rights
of prepayment and other provisions applicable to this note. Each endorsement, if
any, on the reverse side of this note (or any allonge thereto) shall be prima
facie evidence of the data so endorsed.

Address:                                     Preformed Line Products Company
   660 Beta Drive
   Mayfield Village, Ohio  44143             By: /s/ John J. Herda
                                                -------------------------------
                                                 John J. Herda, Vice President
                                                   and Chief Financial Officer<PAGE>   1

                                                                     EXHIBIT 4.5

                                     FORM OF
                             STOCKHOLDERS' AGREEMENT

                                QQLINK.COM, INC.

         THIS STOCKHOLDERS' AGREEMENT ("Agreement") is made and entered into as
of the 3rd day of November, 2000, by and among: (i) QQLink.com, Inc., a
Delaware corporation (the "Company"); (ii) Ceres Group, Inc., a Delaware
corporation ("Ceres"); (iii) the persons and entities listed on the signature
pages hereto (collectively, the "Stockholders").

         WHEREAS, Ceres is the owner of record of 40,000,000 shares of Class B
common stock, par value $0.001 per share (which Class B common stock and any
subsequently authorized Class B common stock is hereinafter referred to as the
"Class B Common Stock");

         WHEREAS, upon the consummation of the transactions described in those
certain Stock Subscription Agreements, of even date herewith, executed by each
of the Stockholders and the Company (collectively, the "Subscription
Agreements"), the Stockholders shall become the owners of record of the number
of shares of Class A common stock, par value $0.001 per share (which Class A
common stock and any subsequently authorized Class A common stock is hereinafter
referred to as the "Class A Common Stock") set forth opposite their respective
names on EXHIBIT A;

         WHEREAS, each of the Stockholders has close contact with confidential
information of one or more of the Company that is not readily available to the
public;

         WHEREAS, the parties desire to (i) make provision for future
dispositions of shares of capital stock of the Company now or hereafter owned by
the Stockholders, (ii) make provision for the sale under certain circumstances
of the shares of stock of the Company owned by the Stockholders, and (iii)
establish certain obligations of the Stockholders with respect to the
confidential information and other property of the Company; and

         WHEREAS, the execution and delivery of this Agreement by the
Stockholders is a condition precedent to the issuance of their respective shares
of Class A Common Stock under their respective Subscription Agreements;

         NOW, THEREFORE, in consideration of the foregoing, and of the mutual
promises hereinafter set forth and of other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties agree as
follows:

<PAGE>   2

         1.       Prohibitions on Transfer of Shares.
                  ----------------------------------

                  1.1 Except as otherwise specifically provided in this
Agreement, no Stockholder shall sell, exchange, deliver, assign, pledge,
mortgage, hypothecate, encumber, make a gift of or otherwise transfer or dispose
of any shares of Class A Common Stock or other capital stock of the Company now
owned or hereafter acquired (collectively, "Class A Shares") thereby, or any
legal, beneficial or other interest therein, whether voluntarily, involuntarily
or by operation of law (any of the foregoing events being hereinafter referred
to as a "Transfer"). Notwithstanding anything in this Agreement to the contrary,
the provisions of this Section 1 shall not apply to any Transfer of Class A
Shares by a Stockholder to a trust, family limited partnership or similar entity
created by or on behalf of such Stockholder if the primary beneficiaries of such
entity are any one or more of such Stockholder, his or her spouse, his or her
lineal descendants and their spouses, and any organization described in ss.2055
(a) of the Internal Revenue Code of 1986, as amended, and in accordance with
Section 11.2, this Agreement shall be binding upon and inure to the benefit of
and be enforceable by and against such entity. Upon the death of any Stockholder
that is an individual, the Class A Shares then owned shall be treated as the
Stockholder's personal property and may be Transferred; provided that the
transferee agrees to be bound by this Agreement and executes an applicable
joinder agreement. In the event of a merger or consolidation with another
entity, or a sale of all or substantially all of the assets, or dissolution,
liquidation or winding up of a Stockholder that is a corporation, partnership,
limited liability company or similar entity, such Stockholder shall be
prohibited from Transferring ownership of the Class A Shares to the surviving,
consolidated or purchasing entity, and the Class A Shares shall be Transferred
to the individual who signed the Subscription Agreement on behalf of such
Stockholder.

                  1.2 Any Transfer of Class A Shares that does not comply with
the terms and provisions of this Agreement is and shall be void and does not and
shall not transfer any right, title or interest in or to said Class A Shares.

         2.       Put Option.
                  ----------

                  2.1 Grant of Put Option. Subject to Section 2.3 of this
Agreement, beginning on the second anniversary of the date of this Agreement
(the "Effective Date"), until the Put Expiration Date (as defined in Section 2.3
hereof), each Stockholder shall have the right to exchange shares of Class A
Common Stock ("Class A Common Stock") owned as of the date of this Agreement for
a number of fully paid and nonassessable shares of common stock, par value
$0.001 per share, of Ceres ("Ceres Common Stock"), equal to the Exchange Rate
(as defined in Section 2.2 hereof) in effect on the Effective Date multiplied by
the number of shares of Class A Common Stock owned as of the date of this
Agreement (the "Put Option"); provided, however, at least two-thirds (2/3) of
the shares of Class A Common Stock owned by the Stockholders on the date hereof
are voted in favor of exercising the Put Option. If at least two-thirds (2/3) of
the shares of Class A Common Stock owned by the Stockholders on the date hereof
are voted in favor of exercising the Put Option, all Stockholders shall be
required to exercise the Put Option in accordance with terms and conditions of
this Section 2. No fractional shares of Ceres

                                       2
<PAGE>   3

Common Stock shall be issued in exchange for shares of Class A Common Stock.
Instead, the number of shares of Ceres Common Stock issuable hereunder shall be
rounded up to the nearest whole share. No less than all shares of Class A Common
Stock owned by a Stockholder may be exchanged at any time.

                  2.2 Exchange Rate. The "Exchange Rate" means a fraction having
a numerator equal to the fair market value of each share of Class A Common Stock
on the Effective Date and a denominator equal to the average closing price per
share of Ceres Common Stock ("Closing Price") for each trading day during the
thirty (30) calendar days immediately preceding the Effective Date.

         For purposes of determining the Exchange Rate, the fair market value of
each share of Class A Common Stock shall be determined by an investment banker
appointed by the Board of Directors of Ceres, and the Closing Price per share of
Ceres Common Stock shall be (i) if Ceres Common Stock is listed or admitted for
trading on any United States national securities exchange, or if actual
transactions are otherwise reported on a consolidated transaction reporting
system, the last reported sale price of Ceres Common Stock on such exchange or
reporting system, as reported in any newspaper of general circulation, (ii) if
Ceres Common Stock is quoted on the National Association of Securities Dealers
Quotations System ("NASDAQ"), or similar system of automated dissemination of
quotations of securities prices in common use, the mean between the closing high
bid and low asked quotations for such day of Ceres Common Stock on such system,
or (iii) if neither clause (i) or (ii) is applicable, the mean between the high
bid and low asked quotations for the Ceres Common Stock as reported by the
National Quotation Bureau, Incorporated, if at least two securities dealers have
inserted both bid and asked quotations for Ceres Common Stock on at least five
of the ten preceding days.

                  2.3 Term of Put Option. Notwithstanding anything to the
contrary contained in Section 2, the Put Option under Section 2.1 shall
immediately and automatically terminate following the Put Expiration Date. For
purposes of this Section 2, the term "Put Expiration Date" shall mean the
earliest to occur of following:

         (i) the day the Company consummates an underwritten initial public
offering of its Common Stock and receives gross proceeds from such public
offering of at least $15.0 million and a price per share of at least $2.00, as
adjusted for any stock splits, recapitalization or reorganizations;

         (ii) the day the Company sustains a change in control resulting from a
merger, consolidation or statutory stock exchange with another corporation or
entity, or a sale of all or substantially all of its assets or securities;

         (iii) the day Ceres sustains a change in control resulting from a
merger, consolidation or statutory stock exchange with another corporation or
entity, or a sale of all or substantially all of its assets or securities;

                                       3
<PAGE>   4

         (iv) the 30th day following exercise of the Call Option by Ceres
pursuant to Section 3 hereof; provided, however, that the Put Option has not
been exercised prior thereto; or

         (v)      the 90th  day following the Effective Date.

                  2.4 Exercise of Put Option. In order to exchange shares of
Class A Common Stock, the holders of at least two-thirds (2/3) of the shares of
Class A Common Stock owned by the Stockholders on the date hereof shall deliver
to Ceres, at its principal office: (i) complete and executed exchange
certificates in the form attached hereto as Exhibit C (a "Notice of Class A
Share Exchange"); and (ii) the certificate or certificates representing the
shares of Class A Common Stock being exchanged (collectively referred to as the
"Put Notice"). The Put Notice shall be effective and in full force and effect if
delivered to the Secretary of Ceres by facsimile transmission at (440) 572-4500
on or after the Effective Date, but prior to the Put Expiration Date; provided,
however, that the original Put Notice is delivered to the Secretary of Ceres
within three business days thereafter at 17800 Royalton Road, Cleveland, Ohio
44136-5197. The date on which the Put Notice is received shall be deemed to be
the date set forth in the Put Notice, and the person or persons entitled to
receive shares of Ceres Common Stock issuable upon exchange shall be treated for
all purposes as the record holder or holders of such Common Stock as of the such
date. If the original Put Notice is not delivered to Ceres within three business
days after such date, then the Put Notice shall become null and void as if it
were never given and Ceres shall, within five business days thereafter, return
to the holder by overnight courier any Put Notice that may have been submitted
in connection with such exchange.

                  2.5 Restructuring of Ceres Common Stock. If, at any time prior
to the Put Expiration Date, the shares of Ceres Common Stock issuable hereunder
upon exchange of shares of Class A Common Stock are changed or converted into
the same or a different number of shares of any other class or classes of stock
of Ceres, whether by reclassification, subdivision, combination, stock dividend,
exchange of shares or otherwise, then holders of shares of Class A Common Stock
shall, upon such conversion, be entitled to receive, in lieu of the shares of
Ceres Common Stock that the Stockholders would have become entitled to receive
but for such change, a number of shares of such other class or classes of stock
that would have been subject to receipt by the Stockholders if they had
exercised their right of exchange immediately before such change.

                  2.6 Restructuring of Shares of Class A Common Stock. If, at
any time prior to the Put Expiration Date, the shares of Class A Common Stock
exchangeable hereunder by the Stockholders are changed or converted into the
same or a different number of shares of any other class or classes of stock,
whether by reclassification, subdivision, combination, stock dividend, exchange
of shares or otherwise, then the Stockholders shall be entitled to exchange, in
lieu of the shares of Class A Common Stock that such Stockholders would have
exchanged but for such change, a number of shares of such other class or classes
of stock that would have been subject to exchange by such Stockholders if such
Stockholders had exercised their exchange right immediately before such change.

                                       4
<PAGE>   5

                  2.7 Transferability of Put Option. Notwithstanding anything to
the contrary contained in this Agreement, the Put Option granted pursuant to
this Section 2 hereof shall be transferable only to the extent that the
corresponding shares of Class A Common Stock are transferable pursuant to this
Agreement. To the extent the Put Option is transferred in accordance with the
terms and conditions hereof, the recipient of the Put Option shall be deemed a
"Stockholder" for purposes of this Agreement.

                  2.8 Restrictions on Shares of Ceres Common Stock. The shares
of Ceres Common Stock issuable upon exercise of the Put Option have not been and
will not be registered under the Securities Act of 1933, as amended (the
"Securities Act"), or applicable state securities laws and may not be
transferred, sold or otherwise disposed of unless such transfer, sale or
disposition is registered or exempt from registration under the Securities Act
and applicable state securities laws. The shares of Ceres Common Stock issuable
upon exchange of such shares of Class A Common Stock will bear a legend, in a
form satisfactory to Ceres, restricting the transfer of such shares. Nothing
contained in this Agreement shall require Ceres to register such Ceres Common
Stock under the Securities Act or applicable state laws or to continue any such
registration that may be in effect on or after the date this Agreement.

                  2.9 Survival. The provisions of this Section 2 shall survive
the termination of this Agreement pursuant to Section 9.3(iii) hereof.

         3.       Call Option.
                  -----------

                  3.1 Grant of Call Option. Subject to Section 3.3 of this
Agreement, beginning on the Effective Date, until the Call Expiration Date (as
defined in Section 3.3 hereof), Ceres shall have the right to purchase all, but
not less than all, of the shares of Class A Common Stock owned by the
Stockholders as of the date of this Agreement for an amount of cash per share
equal to the Purchase Price (as defined in Section 3.2 hereof) in effect on the
date of purchase (the "Call Option").

                  3.2 Purchase Price. The "Purchase Price" per share of Class A
Common Stock is the fair market value of each share as determined on the
Effective Date by an investment banker appointed by the Board of Directors of
Ceres.

                  3.3 Term of Call Option. Notwithstanding anything to the
contrary contained in this Section 3, the Call Option under Section 3.1 shall
immediately and automatically terminate following the Call Expiration Date. For
purposes of this Section 3, the term "Call Expiration Date" shall mean the
earliest to occur of following:

                             (i) the day upon which the holders of at least
         two-thirds (2/3) of the shares of Class A Common Stock owned as of the
         date of this Agreementhave effectively exercised their Put Option in
         accordance with the terms and conditions of Section 2 of this
         Agreement;

                                       5
<PAGE>   6

                             (ii) the day the Company consummates an
         underwritten initial public offering of its Common Stock and receives
         gross proceeds from such public offering of at least $15.0 million and
         a price per share of at least $2.00, as adjusted for any stock splits,
         recapitalization or reorganizations;

                           (iii) the day the Company sustains a change in
         control resulting from a merger, consolidation or statutory stock
         exchange with another corporation or entity, or a sale of all or
         substantially all of its assets or securities;

                           (iv) the day Ceres sustains a change in control
         resulting from a merger, consolidation or statutory stock exchange with
         another corporation or entity, or a sale of all or substantially all of
         its assets or securities; or

                           (v)  the 90th  day following the Effective Date.

                  3.4 Exercise of Call Option. In order to purchase the shares
of Class A Common Stock, Ceres shall deliver to each Stockholder a complete and
executed purchase certificate in the form attached hereto as Exhibit D (the
"Call Notice"). The Call Notice shall be effective and in full force and effect
if sent to the Stockholder on or after the Effective Date, but prior to the Call
Expiration Date. The date on which the Call Notice is sent shall be deemed to be
the date set forth in the Call Notice (the "Notice Date"). Provided the
Stockholders have failed to exercise the Put Option pursuant to Section 2.1 of
this Agreement within 30 days of the Notice Date, the Put Option shall terminate
pursuant to Section 2.3 (iv) of this Agreement, and Ceres shall thereafter be
treated for all purposes as the record holder of the shares of Class A Common
Stock as of the Notice Date. As soon a practicable thereafter, Ceres shall
deliver a certified official bank check or money order payable to the
Stockholder in an amount equal to the aggregate Purchase Price. Within three
business days of receipt of the Purchase Price, the Stockholder shall deliver,
via national courier service, to Ceres the certificate(s) representing the
shares of Class A Common Stock so purchased, duly endorsed by the Stockholder or
accompanied by appropriate powers(s) executed by the Stockholder in a form
sufficient to transfer title of the shares of Class A Common Stock to Ceres;
provided, however, that the failure by a Stockholder to return to Ceres the
certificate(s) representing the shares of Class A Common Stock so purchased will
not effect Ceres' ownership of such shares if the Purchase Price has been
delivered. If such certificate(s) is not returned to Ceres, the Stockholder
hereby irrevocably constitutes and appoints any officer of Ceres as his, her or
its true and lawful agent and attorney-in-fact to authorize, swear to, file and
record in all places an affidavit of lost certificate(s) sufficient to transfer
title of the shares to Ceres and such other documents and instruments and to
take such other actions as may be necessary or appropriate to carry out this
Section 3.4. The limited power of attorney granted hereby shall be deemed to be
coupled with an interest and shall be irrevocable.

                  3.5 Restructuring of Shares of Class A Common Stock. If, at
any time prior to the Call Expiration Date, the shares of Class A Common Stock
purchasable hereunder by Ceres

                                       6
<PAGE>   7

are changed or converted into the same or a different number of shares of any
other class or classes of stock, whether by reclassification, subdivision,
combination, stock dividend, exchange of shares or otherwise, then Ceres, upon
such purchase, shall be entitled to receive, in lieu of the shares of Class A
Common Stock that Ceres would have been entitled to receive but for such change,
a number of shares of such other class or classes of stock that would have been
subject to receipt by Ceres if they had exercised their right of purchase
immediately before such change.

                  3.6 Survival. The provisions of this Section 3 shall survive
the termination of this Agreement pursuant to Section 9.3(iii) hereof.

         4.       Co-Sale Rights.
                  --------------

                  4.1 Drag-Along. In the event that Ceres desires to sell all or
any part of the shares of the Class B Common Stock or any other common stock of
the Company (the "Ceres Shares") that it owns of record or beneficially in an
arm's-length transaction (a "Sale"), it may give notice of its intention to do
so to all other Stockholders (a "Sale Notice"). Each Sale Notice shall include:
(i) the number of Ceres Shares of each class of stock to be sold by Ceres in the
Sale; (ii) the principal terms of the Sale, including the minimum price at which
such Ceres Shares are intended to be sold; (iii) the percentage that such amount
of Ceres Shares constitutes with respect to the aggregate amount of outstanding
shares of both Class A and Class B Common Stock or any other class of Company
stock then outstanding; and (iv) a demand by Ceres (a "Demand") that an
equivalent proportion of the Class A Shares held by all Stockholders be sold in
the Sale. Each of the Stockholders agrees that, in the event Ceres makes such a
Demand, such Stockholder shall accept such Demand, which acceptance shall be
irrevocable and shall bind such Stockholder to sell a proportionate amount of
his, her or its Class A Shares simultaneously with Ceres and on the same terms
and conditions as Ceres shall sell its Ceres Shares in the Sale, which terms and
conditions shall not be materially less favorable to such other Stockholders
than as set forth in the Sale Notice (without taking into consideration any
consulting, non-competition or similar agreement or arrangement that may be
offered to Ceres in connection with the sale of its Ceres Shares). The Company
and each Stockholder shall take such actions and execute such documents and
instruments as shall be necessary or desirable to expeditiously consummate the
Sale.

                  4.2 Tag-Along. Except as provided in Section 4.3, Ceres agrees
that it shall not sell 10% or more of its Ceres Shares in a Sale without
effecting a sale of an equivalent proportion of the Class A Shares of the other
Stockholders in the Sale as provided in Section 4.1.

                  4.3 Exceptions. Notwithstanding anything in this Agreement to
the contrary, the provisions of this Section 4 shall not apply to any sale of
Ceres Shares by Ceres if it: (i) causes the Sale to be effected pursuant to an
effective registration statement under the Securities Act of 1933, as amended,
or pursuant to Rule 144 thereunder or any comparable rule then in effect; or
(ii) would continue to own a controlling interest in the Company after selling
such Ceres Shares.

                                       7
<PAGE>   8

                  4.4 Costs and Expenses. All costs and expenses incurred by
Ceres in connection with the rights of the Stockholders in the event of a Sale
as set forth in this Section 4, including without limitation all attorneys'
fees, costs and disbursements and any finders' fees or brokerage commissions,
together with the reasonable fees and disbursements of all counsel representing
Ceres and the Stockholders in connection with the Sale, shall be allocated pro
rata among all of the Stockholders, with each Stockholder paying that portion of
such costs and expenses that equals the percentage obtained by dividing the
amount of gross proceeds received by such Stockholder in the Sale by the total
amount of gross proceeds received by all of the Stockholders. The portion of
such costs and expenses allocable to each Stockholder that Ceres shall have
incurred or paid shall promptly be paid by such Stockholder to Ceres, and all
disbursements for such costs and expenses shall be made at or prior to the
closing of the Sale.

                  4.5 Waiver of Appraisal Rights. Each Stockholder waives any
rights that he, she or it may have, under the laws of the State of Delaware or
otherwise, to appraisal of his, her or its Class A Shares as a dissenting
stockholder with respect to any Sale and agrees to vote in favor of and
otherwise consent to any Sale.

                  4.6 Duration. The provisions of this Section 4 shall remain in
full force and effect until this Agreement is terminated pursuant to Section 9.3
and shall not terminate by operation of law, the Transfer of all of the Class B
Shares now or hereafter held by Ceres or of all of the Class A Shares, now or
hereafter held by any other Stockholder or the occurrence of any other event.

         5.       Confidential Information and Other Property of the Company.
                  ----------------------------------------------------------

                  5.1 Definition of Confidential Information. For purposes of
this Agreement, "Confidential Information" means all information (in tangible or
intangible form) or trade secrets of any type or description belonging to the
Company or any of its affiliates that are valuable, proprietary and confidential
to it and that are not publicly disclosed or are only disclosed with
restrictions. Without limiting the generality of the foregoing, the term
"Confidential Information" includes any customer lists, supplier lists, pricing
and sales information such as specific product needs of customers, operational
methods of the website, specific marketing strategies, future plans of the
Company, and all other information revealed to, acquired or created by any
Stockholder for as long as he, she or it owns any Class A Shares and for two
additional years thereafter (the "Restricted Period") that relates to any of the
foregoing.

                  5.2 Agreement Not to Disclose. Each Stockholder acknowledges
that during the course of his, her or its relationship with the Company, such
Stockholder has or will continue to come in close contact with Confidential
Information. Each Stockholder acknowledges that the unauthorized use or
disclosure by such Stockholder of any Confidential Information of the Company or
any of its affiliates to third parties will cause irreparable damage to it.
Accordingly, each Stockholder agrees that, during the Restricted Period, he, she
or it shall not copy, publish, disclose, divulge or discuss with any third party
nor use for his, her or its own benefit or that of

                                       8
<PAGE>   9

others, without prior written consent of the Company except, in the case of an
individual Stockholder, as required in the normal course of performing his or
her duties as an individually licensed insurance agent authorized to sell life
and health insurance policies of the Company and its subsidiaries, except, in
the case of a Stockholder that is a corporation, partnership, limited liability
company or similar entity, to its employees or independent contractors who have
a need to know such information, or except as required by applicable law. Such
employees or independent contractors shall be informed by the Stockholder of the
confidential nature of the Confidential Information, and the Stockholder shall
cause such persons to comply with this Section 5 as if they were parties hereto.
The Stockholder shall be responsible for any breach of the terms of this Section
5 by such persons.

                  5.3 Other Property. Each Stockholder agrees that all files,
records and other documents, and all copies of the foregoing, utilized by such
Stockholder in the course of his, her or its relationship with the Company are
the exclusive property of the Company, regardless of who actually acquired,
prepared or assembled such files, records and other documents and regardless of
whether such files, records and other documents contain any Confidential
Information. Each Stockholder agrees that, upon the death, disability or
termination of his, her or its relationship with the Company (even if the
ownership of Class A Shares continues), the Stockholder shall promptly deliver
to the Company all such property and all other tangible property owned by the
Company that is then in the possession or control of such Stockholder. Unless
and solely to the extent that the Company agrees otherwise in writing, such
Stockholder further agrees that he, she or it shall not make or retain any
copies or abstracts of any of the foregoing materials and will so represent to
the Company upon demand.

                  5.4 Survival. The covenants and agreements made by the
Stockholders in this Section 5 shall survive the termination of the Restricted
Period and any termination of this Agreement.

         6.       Rights and Remedies upon Breach of Restrictive Covenants.
                  --------------------------------------------------------

                  6.1 Rights and Remedies. Each Stockholder recognizes and
acknowledges that the rights and obligations set forth in this Agreement are
special, unique and of extraordinary character, that the limitations on such
Stockholder's rights as contained in Section 5 are reasonable in scope and
duration and that such limitations are reasonably related to the protection of
the Confidential Information, property, legitimate business interest and
goodwill of the Company. Each Stockholder expressly agrees and understands that,
in the event of the breach by such Stockholder of any of the provision of
Section 5 (the "Restrictive Covenants"), the Company shall have the following
rights and remedies, each of which shall be independent of the other and
severally enforceable, and all of which rights and remedies shall be in addition
to, and not in lieu of, any other rights and remedies available at law or in
equity:

                           (a) the right to notify anyone entering, or anyone
                  evidencing an intention to enter, into any agreement or
                  arrangement with the Stockholder that is restricted or
                  prohibited by this Agreement as to the existence and
                  provisions of

                                       9
<PAGE>   10

                  this Agreement;

                           (b) the right to obtain immediate injunctive relief,
                  specific performance and/or any other applicable equitable
                  remedy regarding such breach;

                           (c) the right and remedy to require such Stockholder
                  to account for and pay over to the Company all compensation,
                  profits or other benefits derived or received by such
                  Stockholder as a result of such breach; and

                           (d) the right to reimbursement by the Company of all
                  fees (including, without limitation, reasonable attorneys'
                  fees) and expenses actually and reasonably incurred by the
                  Company in enforcing its rights under this Agreement.

                  Each Stockholder agrees that he, she or it shall not raise in
any of the foregoing proceedings the defense that the Company has an adequate
remedy at law, and hereby waives such defense.

                  6.2 Reformation. If any court of competent jurisdiction
determines that any one or more of the Restrictive Covenants, or any part
thereof, are unenforceable because of the scope, duration and/or geographical
area of the restriction set forth in such provision, then such court or
arbitrator shall have the power to reform the provision to be reasonable as to
scope, duration and/or geographical area and to enforce the provision as so
reformed.

                  6.3 Acknowledgment. Each Stockholder acknowledges that he, she
or it: (i) has carefully read and understands all of the terms of this
Agreement; (ii) has had ample opportunity to ask questions of the Company
concerning the terms of this Agreement, which questions have been answered to
his, her or its satisfaction; and (iii) has had sufficient time and an
opportunity to consult with his, her or its own legal advisor prior to signing
this Agreement.

                  6.4 Survival. The covenants, agreements and acknowledgments
made by the Stockholders in this Section 6 shall survive the termination of the
Restricted Period and any termination of this Agreement.

         7. Agreements by the Company. The Company agrees for and on behalf of
itself and its successors and assigns that: (i) it hereby consents to this
Agreement and agrees to comply with the terms and provisions hereof; (ii) all
certificates representing Class A Shares held by any Stockholder shall bear
legends in substantially the form required by Section 8.1; and (iii) it shall
not give effect to any Transfer of Class A Shares that is not in compliance with
all of the terms and conditions stated in this Agreement without the advance
written consent of the Company.

                                       10
<PAGE>   11

         8.       Legends and Notices.
                  -------------------

                  8.1 Legends. The Company shall include on each certificate
representing the Class A Shares held by the Stockholders (including any shares
of Common Stock and other shares of capital stock of the Company hereafter
acquired by any of the Stockholders) legends in substantially the form set forth
on Exhibit B. Upon the termination of this Agreement pursuant to Section 9.3,
the Stockholders may surrender the certificates representing their Class A
Shares to the Company, and the Company shall thereupon issue new certificates to
the Stockholders for an equal number of Class A Shares without such legends.

                  8.2 Notices. All notices or other forms or communication
provided for herein shall be given in writing and either personally delivered or
sent by registered or certified U.S. mail, return receipt requested, first-class
postage prepaid, to the applicable party at the address set forth below (unless
notice of a change of address is furnished to all the other parties hereto in
the manner provided in this Section):

                  If to any Stockholder        The address of such
                  other than Ceres:            Stockholder last entered in
                                               the stock records of the
                                               Company.

                  If to Ceres or the Company:  17800 Royalton Road
                                               Cleveland, Ohio 44136
                                               Attn:  General Counsel

                           With a copy to:     Kohrman Jackson & Krantz P.L.L.
                                               One Cleveland Center, 20th Floor
                                               Cleveland, Ohio  44114
                                               Attention: Marc C. Krantz, Esq.

         9.       Amendment, Waiver and Termination.
                  ---------------------------------

                  9.1 Amendment. Any modification of or amendment to any
provision of this Agreement must be in writing and signed by all parties hereto.

                  9.2 Waiver. No waiver of any provision of this Agreement shall
be valid unless in writing and signed by the Person against whom it is sought to
be enforced. The failure of any party at any time to insist upon strict
performance of any condition, promise, agreement and understanding set forth
herein shall not be construed as a waiver or relinquishment of the right to
insist upon strict performance of the same condition, promise, agreement or
understanding at a future date.

                  9.3 Termination of Agreement. This Agreement shall terminate
upon the first to occur of any of the following: (i) the mutual agreement of all
the parties hereto; (ii) Ceres purchases all of the outstanding Class A Shares
owned by the other Stockholders; (iii) Ceres ceases to own at least 20% of the
outstanding Class A and Class B Shares; or (iv) the

                                       11
<PAGE>   12

consummation of an underwritten initial public offering of the Common Stock of
the Company with gross proceeds of at least $15.0 million and a price per share
of at least $2.00, as adjusted for any stock splits, recapitalizations or
reorganizations.

         10.      Jurisdiction; Service of Process; Venue.
                  ----------------------------------------

                  10.1 Submission to Jurisdiction. For the purpose of any action
or proceeding instituted with respect to this Agreement, each party other than
the Company hereby irrevocably submits to the jurisdiction of any state or
federal court having subject matter jurisdiction and located in Cleveland, Ohio.

                  10.2 Consent to Service of Process. Each party other than the
Company also irrevocably consents to the service or process out of said courts
by mailing a copy thereof, by registered mail, postage prepaid, to such party as
provided in Section 8.2 or at such other address furnished to the other parties
hereto in the manner provided in Section 8.2, and each party hereby agrees that
such service, to the fullest extent permitted by law (i) shall be deemed in
every respect effective service of process upon such party in any such suit,
action or proceeding and (ii) shall be taken and held to be valid personal
service upon and personal delivery to such party. Notwithstanding anything in
this Agreement to the contrary, the Company shall have the right to serve
process in any manner permitted by law and to bring an action or proceeding in
respect hereof in any country, state, county or place having jurisdiction over
such action.

                  10.3 Waiver of Objections to Venue. Each party other than the
Company also hereby irrevocably waives, to the fullest extent permitted by law,
any objection that such party may have or hereafter have to the laying of the
venue of any such suit, action or proceeding brought in any such court located
in Cleveland, Ohio and any claim that any such suit, action or proceeding
brought in such a court has been brought in an inconvenient forum.

         11.      General Provisions.
                  ------------------

                  11.1 Assignment. No party hereto may assign any of such
party's rights or obligations hereunder without the prior written consent of the
Company; provided that the rights and obligations of the Company hereunder may
be assigned or transferred by operation of law.

                  11.2 Benefit and Burden. This Agreement shall be binding upon
and inure to the benefit of and be enforceable by and against (i) each of the
Stockholders and their respective heirs, beneficiaries, estates, guardians,
executors, administrators, substitutes, legal representatives, successors and
permitted assigns, as the case may be, and (ii) the Company and its successors
and permitted assigns. For purposes of this Agreement, each Stockholder shall be
conclusively deemed to own all Shares owned, directly or indirectly, by such
Stockholder and such Stockholder's heirs, beneficiaries, estate, guardians,
executors, administrators, legal representatives, successors and permitted
assigns and transferees, as the case may be.

                  11.3 No Third Party Beneficiaries. Except as otherwise
provided in Section

                                       12
<PAGE>   13

11.2, nothing in this Agreement is intended nor will it be construed to give any
Person any right, remedy or claim under or in respect of this Agreement or any
provisions hereof; provided that the Company shall be entitled to the benefits
of the Restrictive Covenants and to the rights and remedies described in Section
6.

                  11.4 Governing Law. This Agreement shall be construed and
enforced in accordance with the domestic substantive laws of the State of
Delaware without giving effect to any choice or conflict of laws provision or
rule that would cause the application of the domestic substantive laws of any
other state.

                  11.5 Severability. The invalidity or unenforceability of any
particular provision of this Agreement shall not affect the other provisions
hereof, and this Agreement shall be construed in all respects as if such invalid
or unenforceable provisions were omitted.

                  11.6 Headings; Gender. The paragraph headings used herein are
for convenience of reference only and do not form a part hereof and do not in
any way modify, interpret or set forth the intentions of the parties. When
permitted by the context, each pronoun used in this Agreement includes the same
pronoun in other genders.

                  11.7 Entire Agreement. This Agreement sets forth all of the
promises, agreements, conditions, understandings, warranties and representations
among the parties hereto with respect to the subject matter hereof, and
supersedes and is intended to be an integration of any and all prior agreements
or understandings, oral or written, with respect to the subject matter hereof;
provided, however, that this Agreement shall not supersede or integrate the
Subscription Agreements or any other agreement or instrument executed
concurrently herewith and to the extent, that any Stockholder is also a party to
the Founder's Online Sales Agreement, the terms of Section 5 shall be
supplemented by, and be an additional obligation to, any similar provisions
regarding confidentiality that may be contained in such Founder's Online Sales
Agreement.

                  11.8 Execution in Counterparts. This Agreement may be executed
by any one or more of the parties hereto in any number of counterparts, each of
which will be deemed to be an original, but all such counterparts will together
constitute one and the same instrument.

                                       13
<PAGE>   14

         IN WITNESS WHEREOF, the undersigned have executed this Agreement as of
the date first set forth above.

                                             QQLINK.COM, INC.

                                             -----------------------------------
                                             By:
                                             Its:

                                             CERES GROUP, INC.

                                             -----------------------------------
                                             By:
                                             Its:

                                       14
<PAGE>   15

                    SIGNATURE PAGE TO STOCKHOLDERS'AGREEMENT

                                              ------------------------------
                                              [Name of Purchaser]

                                       15
<PAGE>   16

                      EXHIBIT A TO STOCKHOLDERS' AGREEMENT

                          SHARES OWNED BY STOCKHOLDERS

                                                          Shares of
Name of Stockholder                                  Class A Common Stock
-------------------                                  --------------------

         Total Shares of Class A Common Stock Outstanding

                                       16
<PAGE>   17

                      EXHIBIT B TO STOCKHOLDERS' AGREEMENT

                         LEGENDS FOR SHARE CERTIFICATES

THE SECURITIES REPRESENTED BY THIS CERTIFICATE WERE ISSUED IN A PRIVATE
PLACEMENT, WITHOUT REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE "ACT") AND IN RELIANCE UPON THE HOLDER'S REPRESENTATION THAT SUCH
SECURITIES WERE BEING ACQUIRED FOR INVESTMENT AND NOT FOR RESALE. NO TRANSFER OF
SUCH SECURITIES MAY BE MADE ON THE BOOKS OF THE CORPORATION, UNLESS ACCOMPANIED
BY AN OPINION OF COUNSEL SATISFACTORY TO THE CORPORATION THAT SUCH TRANSFER MAY
PROPERLY BE MADE WITHOUT REGISTRATION UNDER THE ACT OR THAT SUCH SECURITIES HAVE
BEEN SO REGISTERED UNDER A REGISTRATION STATEMENT WHICH IS IN EFFECT AT THE DATE
OF SUCH TRANSFER.

THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A STOCKHOLDERS'
AGREEMENT, DATED AS OF NOVEMBER 3, 2000, AS MAY BE AMENDED FROM TIME TO TIME,
AMONG THE COMPANY AND ITS STOCKHOLDERS, A COPY OF WHICH HAS BEEN ENTERED IN THE
RECORD OF MINUTES OF THE CORPORATION. THE STOCKHOLDERS' AGREEMENT PROHIBITS ANY
TRANSFER OF THE SHARES REPRESENTED HEREBY. ANY PURPORTED TRANSFER OF THE SHARES
REPRESENTED HEREBY THAT IS NOT PERMITTED BY THE STOCKHOLDERS' AGREEMENT SHALL
BE NULL AND VOID. A COPY OF THE STOCKHOLDERS' AGREEMENT MAY BE OBTAINED FROM
THE COMPANY AT ITS PRINCIPAL EXECUTIVE OFFICES AT NO CHARGE.

                                       17
<PAGE>   18

                      EXHIBIT C TO STOCKHOLDERS' AGREEMENT

                        NOTICE OF CLASS A SHARE EXCHANGE

Ceres Group, Inc.
17800 Royalton Road
Cleveland, Ohio 44136

Attention: General Counsel

         Pursuant to Section 2 of QQLink.com, Inc.'s (the "Company")
Stockholders' Agreement (the "Agreement"), the undersigned hereby exercises his,
her or its Put Option, as defined in Section 2.1 of the Agreement, with respect
to all shares of Class A Common Stock of the Company ("Class A Common Stock")
owned by the undersigned as of the date the Agreement was executed, for a number
of fully paid and nonassessable shares of Ceres Group, Inc. common stock, par
value $0.001 per share, as determined by the Company pursuant to the terms of
the Agreement, and tenders herewith the certificate or certificates representing
the shares of Class A Common Stock being exchanged.

         The registered address on the share certificate to be issued to the
undersigned should be:
________________________________________________________________________________

The undersigned's social security number is: _________________________.

                                                  ------------------------------
                                                  Signature

                                                  ------------------------------
                                                  Typed or Printed Name*

                                                  ------------------------------
                                                  Date

* Name should appear exactly as set forth on the stock certificate.

                                       18
<PAGE>   19

                      EXHIBIT D TO STOCKHOLDERS' AGREEMENT

                        NOTICE OF CLASS A SHARE PURCHASE

[Stockholder Address]

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

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

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

QQLink.com Stockholder:

         Pursuant to Section 3 of QQLink.com, Inc.'s (the "Company")
Stockholders' Agreement (the "Agreement"), Ceres Group, Inc. ("Ceres") hereby
exercises its Call Option, as defined in Section 3.1 of the Agreement, for the
purchase of all shares of the Company's Class A Common Stock (the "Class A
Common Stock") owned by you as of the date the Agreement was executed.

         Provided the Stockholders of the Company fail to exercise the Put
Option, as defined in Section 2 of the Agreement, within 30 days of the date of
this Call Notice, the fair market value of each share of Class A Common Stock
shall be determined by an investment banker appointed by the Board of Directors
of Ceres.

         Thereafter, Ceres shall deliver a certified official bank check or
money order payable to the above Stockholder in an amount equal to the aggregate
fair market value of the Class A Common Stock being purchased (the "Purchase
Price"). Within three business days of receiving the Purchase Price, you are
required under the Agreement to deliver to Ceres, via national courier service,
the certificate or certificate(s) representing the shares of Class A Common
Stock so purchased, duly endorsed by you or accompanied by appropriate power(s)
executed in a form sufficient to transfer title to of the shares of Class A
Common Stock to Ceres.

         Please contact ________________ at ________________ if you have any
questions.

                                                  CERES GROUP, INC.

                                                  By:___________________________

                                                  Its:__________________________

                                                  Date:_________________

                                       19

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