Document:

EMPLOYMENT AGREEMENT
                            UNIVERCELL HOLDINGS, INC.

This EMPLOYMENT AGREEMENT (the "Agreement") is made as of January 1, 2002 (the
"Effective Date"), by and between UNIVERCELL HOLDINGS, INC. (together with its
subsidiaries and affiliates, the "Company"), a Florida corporation with its
principal place of business at 1 Randall Avenue, Baltimore, Maryland 21208, and
SEAN Y. FULDA, an individual residing at 3710 Clarinth Road, Baltimore, Maryland
21215, (the "Employee"). In consideration of the mutual promises and covenants
set forth in this Agreement, the Company and the Employee agree as follows:

     1.   TERM AND DUTIES. This Agreement shall be effective as of the Effective
Date and continue for a continuous five-year period after the Effective Date
(the "Term"), unless earlier amended or terminated in accordance with this
Agreement. The Employee's job title and specific job responsibilities
("Services") are set forth in EXHIBIT A, which is attached to and incorporated
into this Agreement.

     2.   COMPENSATION, BENEFITS AND EXPENSES. In exchange for the Employee's
Services hereunder, the Employee shall be paid an annual salary, as set forth in
EXHIBIT A (the "Base Salary"), in a manner consistent with the Company's
standard payroll practices. Bonuses, if any, for the years 2002 through 2006
shall be provided at the Company's sole discretion, as determined by the
Company's Board of Directors, acting through its compensation committee, which
shall be independent of the Board of Directors. With the consent of the
Employee, the Employee's right to receive a bonus under this Agreement shall be
replaced with a written executive incentive bonus plan as adopted by the
Company's Board of Directors. The Employee shall be entitled to participate in
benefit plans (other than bonus plans) generally made available by the Company,
which can be changed by the Company at any time without notice. Vacation time,
personal days and sick time may be taken by the Employee in accordance with the
Company's then-current policy. To receive reimbursement of business-related
expenses, the Employee must submit to the Company all appropriate documentation
evidencing such expenses prior to reimbursement.

     3.   NON-COMPETITION AND NON-SOLICITATION.

     A.   The term "Competitor" as used in this Agreement shall mean any person
or business entity engaged in or about to become engaged in the production,
licensing, sale or marketing of any product or service or planned business of
the Company which is similar to or directly competitive with the Company's
products or services, or any product or service under development by the
Company, with which the Employee has been directly involved, has had reasonable
access to, or has reason to know about, as a result of his work with the Company
at any time during the term of his employment with the Company.

     B.   As a material inducement to the Company to enter into this Agreement,
the Employee covenants and agrees that without the Company's prior written
consent, during the Employee's employment with the Company and for a period of
twelve (12) months following the termination, for any reason, of such
employment, the Employee shall not enter the employ of any Competitor, nor
engage during such period, directly or indirectly, as principal, agent, officer,
employee or otherwise, anywhere in the United States or in any geographic area
where the

<PAGE>

Company markets its products and services, in any actions which would conflict
with the best interests of the Company, or any actions to solicit, divert or
take away any customer, supplier or partner of the Company, or provide services
to (other than on the Company's behalf), or assist in any manner any Competitor,
or otherwise compete with the Company in the production, licensing, sale or
marketing of any products or services competitive with the products and services
developed, marketed or under development by the Company during the Term
hereunder.

     C.   The foregoing does not limit the Employee's right to invest in
entities traded on any public market or offered by any national brokerage house
provided that the Employee's interest in any such entity does not exceed two
percent (2%) of the voting control of such entity.

     D.   The Employee acknowledges and agrees that all of the Company's
products and services, whether existing, under development or incomplete, are or
are intended to be marketed and licensed to customers worldwide. The Employee
further acknowledges and agrees that his obligations related to non-competition
will not impair him from becoming gainfully employed, or otherwise earning a
livelihood following the termination of this Agreement. The Employee agrees that
this provision shall survive any termination of the Term or this Agreement.

     E.   During the Term and for twelve (12) months thereafter, the Employee
shall not (i) directly or indirectly solicit, divert or take away any Company
customers, suppliers or partners, or provide services to, or assist in any
manner any Competitor, or otherwise compete with the Company in the production,
licensing, sale or marketing of any products or services competitive with the
Company's products and services, whether existing or under development, at the
time of the termination of this Agreement; (ii) solicit, induce, attempt to
hire, or hire any person who was an employee or contractor of the Company during
the Term or during the subsequent twelve-month period; (iii) assist or encourage
such person to terminate his position with the Company. The Employee agrees that
this provision shall survive any termination of the Term or this Agreement.

     4.   CONFIDENTIALITY. At no time while the Company is actively pursuing its
business, either during the Term or thereafter, shall the Employee disclose to
sources outside the Company, any technical or business information which the
Employee has learned or developed during the course of his employment hereunder
("Confidential Information"). Such Confidential Information includes, without
limitation, in any form or medium in any way perceived: trade secrets,
inventions, art, drawings, schematics, technical or scientific data, files,
documentation, diagrams, specifications, know-how, processes, product criteria,
research and development records and materials, source code and object code
(including the structure, sequence, and organization thereof), lists of any
type, databases, test results and samples, marketing techniques and materials,
marketing, business and development plans and proposals, reproductions, notes,
reports, pricing data, data storage devices, information relating to customers,
vendors and partners, financial information, and information on operational
methods that may come to the Employee's knowledge. The Employee will use his
best efforts to safeguard, protect and prevent, the disclosure, including any
unauthorized use, sale, license or exploitation or any inadvertent or accidental
exposure, to any outside parties of such Confidential Information. The
Employee's duty to maintain such Confidential Information in confidence
hereunder shall survive the termination of this Agreement, except to the extent
that any such Confidential

                                     - 2 -
<PAGE>

Information becomes generally known in the industry through no direct or
indirect fault of the Employee. The Employee agrees that this provision shall
survive any termination of the Term or this Agreement.

     5.   TERMINATION.

     A.   The Company may immediately terminate the Term and this Agreement upon
the bankruptcy, death or permanent disability of the Employee.

     B.   If the Employee defaults in the performance of any material provision
of this Agreement, unless there has previously occurred a material default by
the Company (including any default in payment that has not been cured), the
Company may give the Employee written notice of the circumstances of such
material breach, and if such breach is not remedied within thirty (30) days
after such notice, the Term and this Agreement shall be terminable immediately
upon notice by the Company to the Employee.

     C.   The Company may terminate the Term and this Agreement immediately and
without prior notice for "Cause," which shall mean the Employee's (i) acts of
dishonesty, disloyalty, moral turpitude, criminal or other illegal conduct
taking place during or as the result of the Employee's performance of Services
(as defined on EXHIBIT A hereto) for the Company or (ii) failure or refusal to
perform any Services, duties or obligations hereunder, whether as a result of
misfeasance, nonfeasance, negligence or any other action deemed to be the
Employee's direct or indirect fault.

     D.   If this Agreement and the Term are terminated by the Company for any
reason set forth in Sections 5(A) through (C) above, then the Company shall pay
the Employee through the actual date of termination and the Term shall terminate
as of the actual date of termination. If this Agreement is terminated by the
Company for any reason other than those set forth in Sections 5(A) through (C)
above, then the Company shall pay the Employee the Base Salary from the date of
notice of termination through the end of the Term at such times and in such
amounts as if the Employee shall have remained in the Company's employment under
this Agreement without giving effect to early termination. In addition, the
Employee shall be entitled to receive a bonus for the year in which such
termination has occurred, and for all subsequent years of the Term, that equals
the bonus paid in the year prior to the year in which such termination has
occurred.

Notwithstanding the foregoing, at all times after termination the Employee shall
have the affirmative duty to seek other employment of comparable stature and
with comparable base and salary compensation and otherwise to attempt to
mitigate his right to payment, and the foregoing payments of Base Salary and
bonus shall decrease if and to the extent that the Employee obtains other
comparable employment or provides his comparable services as a consultant or
sole proprietor or partner, by the amount of compensation payable thereunder in
respect of services provided to or provided by the Employee during the time
period prior to the termination of the Term (without giving effect to early
termination). The provisions of this Section 5(D) are the exclusive provisions
that will apply if a court or arbitrator should determine that the Company's
termination of the Employee's employment was without Cause or was by reason of a
material breach by the Company of any of its material obligations under this
Agreement.

                                     - 3 -
<PAGE>

     E.   If the Company defaults in the performance of any material provision
of this Agreement requiring payment of any amount to the Employee, without a
previous incurred material default by the Employee, the Employee may give the
Company written notice of the circumstances of such material breach, and if such
breach is not remedied within seven (7) days of such notice, this Agreement
shall be terminable immediately upon notice by the Employee to the Company;
PROVIDED, that, the Employee may, in his sole discretion, subsequent to any such
alleged breach but prior to the termination of this Agreement, suspend all
Services until such material breach has been remedied. If the Employee shall
terminate this Agreement as provided in this Section 5(E), the Company shall be
obligated to make those payments to the Employee that it would be obligated to
make pursuant to Section 5(D) above had the Company terminated this Agreement
for any reason other than those set forth in Sections 5(A) through (C) above,
subject to the Employee's obligation to mitigate as set forth therein.

          6.   RETURN OF COMPANY PROPERTY. Upon termination of this Agreement
for any reason, the Employee shall return to the Company within ten (10)
business days from the termination date:

          A.   all records, materials, equipment, drawings and documents which
are owned, leased or licensed by the Company; and

          B.   any data of any nature pertaining to or incorporating any
Confidential Information of the Company, including any copies thereof,
regardless of whether the Company or the Employee created such data.

The Employee agrees that this provision shall survive any termination of the
Term or this Agreement.

          7.   WORK PRODUCT.

          A.   DEFINITION. During the Term, the Employee will promptly disclose
in confidence to the Company, whether completed or not, in all media or forms of
expression, all inventions, improvements, designs, documentation, data, reports,
designs, techniques, methodologies, processes, programs, Internet/e-commerce
products and services, databases, and trade secrets, and any other materials or
information that the Employee creates, conceives, produces or first reduces to
practice, either alone or jointly with others, during his employment hereunder,
whether or not in the course of such employment, and whether or not such works
are protectable in any way under any applicable intellectual property law ("Work
Product").

          B.   WORK MADE FOR HIRE. The Employee acknowledges and agrees that any
Work Product, as defined hereunder, shall vest in the Company and constitute the
Company's exclusive property, with the Company having the right to obtain and
hold in its own name, all copyrights, registrations or such other protection as
may be appropriate to the subject matter, and any extensions and renewals
thereof. The Employee agrees that all Work Product has been specially
commissioned by the Company, be deemed to be a "work made for hire" (as defined
in the U.S. Copyright Act of 1976, as amended), and created in the course of the
Services rendered hereunder. The Employee waives any and all paternity,
integrity, moral or any other similar

                                     - 4 -
<PAGE>

rights, existing under judicial or statutory law of any country in the world, or
under any treaty, regardless of whether or not such right is denominated or
generally referred to as a "moral right," that the Employee may have now, or in
the future, in and to the Work Product. To the extent that title to any Work
Product may not, by operation of law, vest in the Company, or the Work Product
may not be considered a work made for hire, the Employee irrevocably assigns and
transfers to the Company, in perpetuity, all of the Employee's worldwide rights,
title and interest in and to the Work Product, whether such rights are vested or
contingent, including, but not limited to, all copyrights, patents, trade
secrets, trademarks and any other proprietary rights therein. The Employee
agrees that this provision shall survive any termination of the Term or this
Agreement.

     C.   FURTHER ASSISTANCE. Upon the Company's reasonable request, the
Employee shall assist the Company in undertaking all such further acts and
executing all such further assignments, documents and instruments in order to
obtain, perfect, provide evidence of or protect the Company's rights hereunder.
If the Employee fails to do so within five (5) business days of receiving the
Company's written notice regarding such request, the Employee appoints the
Company to execute such documents and instruments in the Employee's name and on
its behalf as its duly authorized attorney, and this appointment shall be
irrevocable and be deemed a power coupled with an interest.

     D.   INFORMATION DISCLOSED REMAINS PROPERTY OF COMPANY. The Employee agrees
and acknowledges that all ideas, concepts, information and written material
disclosed to him by the Company, or acquired from any of the Company's
customers, suppliers, affiliates or partners are and shall remain the sole and
exclusive property and Confidential Information of the Company or such third
parties, and are disclosed in confidence by the Company or permitted to be
acquired from such third parties in reliance on the Employee's agreement to
maintain such information in confidence and not to use or disclose them to any
other party except in furtherance of the Company's legitimate business
interests.

     8.   INJUNCTIVE RELIEF. The Employee acknowledges that his obligations
regarding non-competition, non-solicitation, Confidential Information and any
intellectual property rights hereunder have a unique, very substantial and
immeasurable value to the Company, and breach of such obligations would cause
irreparable harm and unascertainable damages to the Company, entitling it to
seek injunctive relief and any other available remedies, including reasonable
attorney's fees and costs, without posting a bond or security or proving
damages.

     9.   MISCELLANEOUS.

     A.   NOTICE. Any notice required or permitted hereunder shall be validly
and effectively given only if (i) personally delivered to the other party, (ii)
sent by first class certified mail, return receipt requested, and postage
prepaid, or (iii) delivered via a nationally recognized global delivery service
(i.e. Federal Express, United Parcel Service) to the address of the respective
party indicated in this Agreement (or to such other address as shall be advised
by either party to the other in writing).

                                     - 5 -
<PAGE>

     B.   ENTIRE AGREEMENT; NO MODIFICATIONS. This Agreement embodies the entire
agreement and understanding of the parties, and supersedes all prior or
contemporaneous written or oral communications or agreements between the parties
regarding the subject matter hereof. No amendments or additions to this
Agreement will be binding unless in writing and signed by both parties. This
Agreement shall be binding on and inure to the benefit of the parties and their
respective legal representatives, successors and assigns.

     C.   WAIVER; SEVERABILITY. If any provision hereunder is held to be invalid
or unenforceable for any reason, the remaining provisions shall continue in full
force without being impaired or invalidated in any way. Either party's waiver of
a breach of any provision hereunder shall not operate or be interpreted as a
waiver of any other or subsequent breach, unless in writing and signed by both
parties.

     D.   NON-ASSIGNABILITY. The Employee shall not assign or transfer in whole
or in part his rights, obligations or interests arising from this Agreement
without the Company's prior written consent. Any such attempt shall be deemed
void and may be construed as a material breach of this Agreement.

     E.   FORCE MAJEURE. Either party's failure to perform any obligation
arising under or in connection with this Agreement shall be excused, if such
failure shall have been caused by any act or circumstance beyond such party's
reasonable control, including without limitation, any act of God, fire, flood,
explosion, failure of equipment, court order or governmental interference, civil
commotion, riot, war, strike, transportation difficulties or labor shortages,
etc.

     F.   SURVIVAL. The termination of this Agreement for any reason shall not
terminate the obligations or liabilities of the parties under the terms and
conditions of this Agreement regarding the Company's right to repurchase the
Employee's Units, confidentiality, payment, warranties, liabilities, proprietary
rights, and all others that by their sense and context are intended to survive
the execution, delivery, performance, termination and expiration of this
Agreement. Such obligations and liabilities shall survive and continue in effect
after such termination.

     G.   GOVERNING LAW. This Agreement shall be construed and enforced in
accordance with the laws of Maryland without giving effect to the choice of law
or conflict of law provisions thereof. The courts of Maryland shall have
exclusive jurisdiction over any matter arising under it (except that injunctive
relief may be sought by the Company in any court having jurisdiction). The
prevailing party in any action related to the interpretation, performance or
breach of any provision of this Agreement shall be entitled to be reimbursed for
any and all reasonable attorney's fees, costs and expenses incurred in pursuing
such remedy hereunder.

                                     - 6 -
<PAGE>

IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the
Effective Date.

UNIVERCELL HOLDINGS, INC                           EMPLOYEE
-----------------------------                      -----------------------------
[Signature]                                        [Signature]

By: /s/ Sean Y. Fulda, CEO                         By: /s/ Sean Y. Fulda
   --------------------------                         --------------------------
[Full name and Title]                                 Sean Y. Fulda

                                     - 7 -
<PAGE>

                                    EXHIBIT A

                       DESCRIPTION OF EMPLOYMENT SERVICES

                              EMPLOYMENT AGREEMENT
               between UniverCell Holdings, Inc. and Sean Y. Fulda
                         Effective Date: January 1, 2002

JOB TITLE:

Chief Executive Officer, President, Chairman of the Board of Directors

SPECIFIC JOB RESPONSIBILITIES ("SERVICES"):

Mr. Fulda manages the strategy, implementation, development, marketing and
funding of the Company's business and its operations. His responsibilities
include, but are not limited to, hiring, financial relationship and business
model development.

BASE SALARY:

                         YEAR                  BASE SALARY
                         ----                  -----------
                         2002                      $75,000
                         2003                     $125,000
                         2004                     $140,000
                         2005                     $160,000
                         2006                     $180,000

Base Salary figures are exclusive of any other benefits provided to the Employee
by the Company.

                                     - 8 -<PAGE>
                                 EXHIBIT 10(11)

                                 First Amendment
                                       to
          Amended and Restated Revolving and Term Loan Credit Agreement

     This First Amendment To Amended And Restated Revolving and Term Loan Credit
Agreement (this "Amendment") is executed as of April 5, 2002, effective as of
February 28, 2002 (the "Effective Date"), by and among AZZ incorporated, a Texas
corporation ("Borrower"), Bank of America, N.A., as Administrative Agent and
Collateral Agent for Lenders (in such capacity, Administrative Agent"), and
other Agents and Lenders party thereto.

A.   Borrower, Administrative Agent, and Lenders entered into that certain
Amended and Restated Revolving and Term Loan Credit Agreement dated as of
November 1, 2001 (as the same may be further amended, modified, supplemented,
restated or amended and restated from time to time, the "Credit Agreement").

B.   Borrower has requested that Lender amend certain terms and provisions of
the Credit Agreement.

C.   Borrower, Administrative Agent, and Lenders have agreed, upon the following
terms and conditions, to amend the Credit Agreement subject to and upon the
terms and conditions provided herein.

     NOW, THEREFORE, in consideration of the mutual promises herein contained,
and for other valuable consideration, the parties hereto agree as follows:

     Section 1. Defined Terms; References. Unless otherwise specifically defined
     ---------  -------------------------
herein, each term used herein that is defined in the Credit Agreement shall have
the meaning assigned to such term in the Credit Agreement.

     Section 2. Amendments to Credit Agreement. Effective as of the Effective
     ---------  ------------------------------
Date, but subject to satisfaction of the conditions precedent set forth in
Section 4 hereof, the Credit Agreement is hereby amended as set forth below.

          (a) The definition of "Applicable Margin" in Section 1.1 of the Credit
Agreement is amended in full to read as follows:

          " `Applicable Margin' means, from February 28, 2002 until and
     including November 1, 2002, the Applicable Margin set forth in Level 5, and
     thereafter, on any date of determination, the percentage per annum set
     forth in the table below for the Type of Borrowing or Commitment Fees (as
     the case may be) that corresponds to the Leverage Ratio at such date of
     determination, as calculated based on the quarterly Compliance Certificate
     of Borrower most recently delivered pursuant to Section 9.3 hereof):

Bank Loan Final-Amendment                                   AZZ First Amendment

<PAGE>

<TABLE>
<CAPTION>
          --------------------------------------------------------------------------------------------------
                                                                   Applicable Margin (per annum)
                                               -------------------------------------------------------------
                                                    Eurodollar Rate          Base Rate         Commitment
            Level         Leverage Ratio             Borrowing and           Borrowing            Fees
                                                    Commission Fee
          --------------------------------------------------------------------------------------------------
          <S>         <C>                      <C>                          <C>                 <C>
              1        Less than or equal to           1.500%                  0.00%             0.250%
                              1.0:1.0
          --------------------------------------------------------------------------------------------------
              2        Greater than 1.0:1.0,           1.750%                  0.00%             0.300%
                      but less than or equal
                            to 1.5:1.0
          --------------------------------------------------------------------------------------------------
              3        Greater than 1.5:1.0,           2.000%                  0.250%            0.375%
                      but less than or equal
                             to 2.0:1.0
          --------------------------------------------------------------------------------------------------
              4        Greater than 2.0:1.0,           2.250%                  0.500%            0.500%
                      but less than or equal
                            to 2.5:1.0
          --------------------------------------------------------------------------------------------------
              5        Greater than 2.50:1.0           2.500%                  0.750%            0.500%
          --------------------------------------------------------------------------------------------------
</TABLE>

          Upon delivery of the Compliance Certificate pursuant to Section 9.3 or
          the Permitted Acquisition Compliance Certificate in connection with a
          Permitted Acquisition, on and after November 2, 2002 after the end of
          each fiscal quarter commencing with the Compliance Certificate
          delivered for the fiscal quarter ending August 31, 2002, the
          Applicable Margin shall automatically be adjusted to the rate
          corresponding to the Leverage Ratio set forth in the table above, such
          automatic adjustment to take effect prospectively the third Business
          Day after receipt by Administrative Agent of the Compliance
          Certificate or the Permitted Acquisition Compliance Certificate, as
          the case may be; provided that, if the Fixed Charge Coverage Ratio of
          Borrower is greater than 1.25:1 for any two consecutive quarters
          following the quarter ending February 28, 2002 (such two quarters
          being a "Fixed Charge Coverage Ratio Compliance Period"), the
          Applicable Margin for Eurodollar Rate Borrowings and Commission Fees
          shall be the corresponding Applicable Margin set forth in the table
          above less 0.250%; provided further that, if the Fixed Charge Coverage
          Ratio of Borrower is less than 1.25:1 at any time of determination
          following any Fixed Charge Coverage Ratio Compliance Period, the
          Applicable Margin for Eurodollar Rate Borrowings and Commission Fees
          shall be the corresponding Applicable Margin set forth in the table
          above. If Borrower fails to deliver such Compliance Certificate or the
          Permitted Acquisition Compliance Certificate, as the case may be, with
          respect to any fiscal quarter or the Permitted Acquisition, as the
          case may be, which sets forth such ratio within the period of time
          required by Section 9.3 or by the definition of Permitted Acquisition,
          as the case may be, the Applicable Margin shall automatically be
          adjusted to that set forth in Level 5. The automatic adjustments
          provided for in the preceding sentence shall take effect on the last
          day that the Compliance Certificate was required to be delivered and
          shall remain in effect until subsequently adjusted in accordance
          herewith upon the delivery of such Compliance Certificate or the
          Permitted Acquisition Compliance Certificate, as the case may be."

                  (b)  The definition of "Permitted Acquisition" in Section 1.1
of the Credit Agreement is amended in full to read as follows:

                  " `Permitted Acquisition' means any Acquisition for which the
          prior written consent of Required Lenders has been obtained and with
          respect to which each of the following requirements shall have been
          satisfied:

Bank Loan Final-Amendment                                    AZZ First Amendment

                                       2

<PAGE>

                    (a) as of the closing of any Acquisition, the Acquisition
               has been approved and recommended by the board of directors of
               the Person to be acquired or from which such business is to be
               acquired;

                    (b) not less than 14 days prior to the closing of any
               Acquisition, Borrower shall have delivered to Administrative
               Agent a Permitted Acquisition Compliance Certificate
               substantially in the form of Exhibit E-2 hereto, demonstrating
               pro forma compliance with the terms and conditions of the Loan
               Documents, after giving effect to the Acquisition, including (i)
               pro forma income statement and balance sheet for the Companies
               (after giving effect to the Acquisition), and (ii) cash flow
               projections for the Acquisition for the period from the date of
               any such Acquisition through the Revolver Termination Date,
               demonstrating compliance with the Companies' applicable financial
               covenants and debt amortization schedules;

                    (c) not less than 30 days prior to the closing of any
               Acquisition, Borrower shall have delivered to Administrative
               Agent a copy of the purchase agreement (including all schedules
               and exhibits thereto) relating to such Acquisition (or if no
               purchase agreement is available on such date, as soon thereafter
               as possible, including all subsequent drafts thereof); and prior
               to consummation of any Acquisition, Borrower shall have satisfied
               the conditions precedent set forth in Section 7.2;

                    (d) any authorization required to be issued by any
               Governmental Authority in connection with such Acquisition shall
               be issued and shall be valid, binding, enforceable and subsisting
               without any defaults thereunder or enforceable adverse
               limitations thereon and shall not be subject to any proceedings
               or claims opposing the issuance, development, or use thereof or
               contesting the validity thereof unless the Company proposing to
               enter into such Acquisition shall have entered into an agreement
               with the seller protecting such Company from such adverse
               limitations, proceedings, or claims, which agreement shall be on
               terms and conditions satisfactory to Administrative Agent;

                    (e) as of the closing of any Acquisition, after giving
               effect to such Acquisition, the acquiring party must be Solvent
               and the Companies, on a consolidated basis, must be Solvent;

                    (f) as of the closing of any Acquisition, no Default or
               Potential Default shall exist or occur as a result of, and after
               giving effect to, such Acquisition; and

                    (g) as of the closing of any Acquisition, (i) if such
               Acquisition is structured as a merger, Borrower (or if such
               merger is with any Subsidiary of Borrower, then a domestic
               company that is or becomes a Subsidiary) must be the surviving
               entity after giving effect to such merger; and (ii) if such
               Acquisition is structured as a stock/equity acquisition, the
               acquiring Company shall own not less than a 75% interest in the
               entity being acquired and such acquired entity will be a domestic
               company that is or becomes a Domestic Subsidiary."

               (c) The definition of "Total Commitment" in Section 1.1 of the
Credit Agreement is amended in full to read as follows:

               "Total Commitment" means, on any date of determination, the
         sum of (a) the aggregate principal amount outstanding under the Term
         Facility plus, as applicable, (b)(i) prior to the

Bank Loan Final-Amendment                                   AZZ First Amendment

                                       3

<PAGE>

          termination of all commitments to lend under the Revolver Facility,
          the aggregate Revolver Commitments or (ii) after the termination of
          all commitments to lend under the Revolver Facility, the aggregate
          principal amount outstanding under the Revolver Facility.

                  (d)    The last sentence of Section 9.20 of the Credit
Agreement is amended in full to read as follows:

                  "Notwithstanding the foregoing, (x) Distributions in the form
         of cash or Cash Equivalents are permitted only with the prior written
         consent of Required Lenders, unless the required minimum Fixed Charge
         Coverage Ratio is at least 1.25:1 at the time of any such Distribution
         and (y) subject to the preceding clause (x), Restricted Payments and
         Distributions are permitted hereunder only to the extent that any such
         Restricted Payment or Distribution is made in accordance with
         applicable Law and constitutes a valid, non-voidable transaction."

                  (e)    Section 9.29(b) of the Credit Agreement is amended in
 full to read as follows:

                  "(b)   Maximum Leverage Ratio. On and after February 28, 2002,
                         ----------------------
         through and including December 30, 2002, the Leverage Ratio to be
         greater than 2.75:1; on and after December 31, 2002 through and
         including February 27, 2004, the Leverage Ratio to be greater than
         2.50:1; and thereafter, to be greater than 2.25:1.0, each to be
         determined with respect to the immediately preceding Rolling Period."

                  (f)    Section 9.29(c) of the Credit Agreement is amended in
full to read as follows:

                  "(c)   Minimum Fixed Charge Coverage Ratio. The Fixed Charge
                         -----------------------------------
         Coverage Ratio to be not less than: (i) from February 28, 2002 through
         and including May 31, 2003, 1.05:1; (ii) from June 1, 2003 through and
         including February 28, 2004, 1.10:1; (iii) from February 29, 2004
         through and including February 27, 2005, 1.15:1; and (iv) from February
         28, 2005 and thereafter, 1.25:1, in each case determined with respect
         to the immediately preceding Rolling Period; provided that, the Fixed
         Charge Coverage Ratio shall be at least 1.25:1 following the first
         Rolling Period in which the aggregate EBITDA of Borrower for four
         consecutive Rolling Periods is greater than $30,000,000."

                  (g)    Section 9.29 of the Credit Agreement is amended by
adding thereto a new subsection (d) as follows:

                  "(d)   Minimum EBITDA. At all times when the Fixed Charge
                         --------------
         Coverage Ratio calculated pursuant to Section 9.29(c) is less than
         1.25:1, beginning with the Rolling Period ended March 31, 2002, EBITDA
         calculated on the last day of each month for the three month period
         then ended, to be less than $5,200,000."

                  (h)    Section 9.30 of the Credit Agreement is amended in
full to read as follows:

                  "9.30  Capital Expenditures. Neither the Borrower nor any of
                         --------------------
         its Subsidiaries shall make or incur any Capital Expenditure if, after
         giving effect thereto, the aggregate amount of all Capital Expenditures
         by the Borrower and its Subsidiaries on a consolidated basis would
         exceed (a) for the fiscal year ending February 28, 2002, $13,000,000,
         (b) for the fiscal year ending February 28, 2003, $6,000,000, and (c)
         for each fiscal year thereafter, $7,000,000; provided that, the amount
         set forth in the foregoing clause (c) shall be increased to $9,000,000
         if the required minimum Fixed Charge Coverage Ratio of Borrower is at
         least 1.25:1."

Bank Loan Final-Amendment                                    AZZ First Amendment

                                       4

<PAGE>

           (i) Schedule 2.1 to the Credit Agreement is deleted and replaced by
Schedule 2.1 attached hereto.

           (j) Exhibit E-1 to the Credit Agreement is amended by amending Annex
B thereto as follows:

     (i)   Section 5(c)(xiii) thereof is amended in full to read as follows:

           "(xiii)  Fixed Charge Coverage Ratio [5(c)(vi) divided by 5(c)(xii)]:
           ______ to 1.0."

     (ii)  Section 5(c)(xiv) thereof is amended in full to read as follows:

           "(xiv) Required Minimum Fixed Charge Coverage Ratio: ______ to 1.0."

     (iii) A new Section 5(d) is added thereto as follows:

           "d. Section 9.29(d) - Minimum EBITDA:

               (i)    Fixed Charge Coverage Ratio [5(c)(xiii)]: ________ to 1.0

               (ii)   EBITDA on the last day of the month for three month period
                      most recently ended:  $___________

               (iii)  Minimum EBITDA Applicable: __________  Yes _________  No

               (vii)  Compliance:  _________ Yes __________ No

     Section 3.  Conditions to Effectiveness.  This Amendment shall become
     ---------   -----------------------------
effective as of the date first set forth above when and if Administrative Agent
has received the following:

           (a) (i) for the respective accounts of the Lenders, an amendment fee
in an amount equal to 12.5 basis points of such Lenders' respective aggregate
Committed Sums, and (ii) the fees set forth in the fee letter dated as of April
___, 2002 between Borrower and Administrative Agent;

           (b) this Amendment, duly executed by Borrower, each Guarantor, each
Lender and Administrative Agent;

           (c) copies of the resolutions of Borrower's Board of Directors
approving and authorizing the execution, delivery and performance by Borrower of
this Amendment, certified as of the Effective Date by a Responsible Officer;

           (d) a certificate of a Responsible Officer, certifying the names and
true signatures of the officers of Borrower authorized to execute and deliver
this Amendment; and

           (e) such other assurances, certificates, documents, consents and
opinions as the Administrative Agent may reasonably require.

     Section 4.  Representations and Warranties of Borrower.  Borrower
     ---------   ------------------------------------------
represents and warrants to the Lenders and Administrative Agent as set forth
below.

Bank Loan Final-Amendment                                   AZZ First Amendment

                                       5

<PAGE>

                  (a) The execution, delivery and performance by Borrower of
this Amendment and the Credit Agreement, as amended hereby, have been duly
authorized by all necessary corporate action and do not and will not (i) require
any consent or approval not heretofore obtained of any director, stockholder,
security holder or creditor of Borrower, (ii) violate or conflict with any
provision of Borrower's Articles of Incorporation, (iii) result in or require
the creation or imposition of any Lien upon or with respect to any property now
owned or leased or hereafter acquired by Borrower, (iv) violate any Laws
applicable to Borrower or (v) result in a breach of or constitute a default
under, or cause or permit the acceleration of any obligation owed under, any
indenture or loan or credit agreement or any other material agreement to which
Borrower is a party or by which Borrower or any of its Property is bound or
affected.

                  (b) No authorization, consent, approval, order license or
permit from, or filing, registration or qualification with, any Governmental
Authority is or will be required to authorize or permit under applicable Law the
execution, delivery and performance by Borrower of this Amendment and the Credit
Agreement, as amended hereby.

                  (c) Each of this Amendment and the Credit Agreement, as
amended hereby, has been duly executed and delivered by Borrower and constitutes
the legal, valid and binding obligation of Borrower, enforceable against
Borrower in accordance with its terms, except as enforcement may be limited by
Debtor Relief Laws or equitable principles relating to the granting of specific
performance and other equitable remedies as a matter of judicial discretion.

                  (d) The representations and warranties of Borrower contained
in Section 8 of the Credit Agreement are true and correct in all material
respects as though made on and as of the Effective Date (except to the extent
such representations and warranties expressly refer to an earlier date, in which
case they are true and correct as of such earlier date).

                  (e) No Default or Event of Default exists or would result from
the effectiveness of this Amendment.

                  (f) Borrower agrees to perform such acts and duly authorize,
execute, acknowledge, deliver, file, and record such additional documents and
certificates as Administrative Agent may reasonably request in order to create,
perfect, preserve, and protect those guaranties, assurances, and Liens.

         Section 5.  Reference to and Effect on Loan Documents.
         ---------   -----------------------------------------

                  (a) On and after the Effective Date, each reference in the
Credit Agreement to "this Agreement," "hereunder," "hereof," "herein" or any
other expression of like import referring to the Credit Agreement, and each
reference in the other Loan Documents to "the Credit Agreement," "thereunder,"
"thereof," "therein" or any other expression of like import referring to the
Credit Agreement, shall mean and be a reference to the Credit Agreement as
amended by this Agreement.

                  (b) Except as specifically amended hereby, all provisions of
the Credit Agreement and all Collateral Documents shall remain in full force and
effect and are hereby ratified and confirmed.

                  (c) Except as otherwise expressly provided herein, the
execution, delivery and effectiveness of this Amendment shall not operate as a
waiver of any right, power or remedy of any Bank or the Administrative Agent
under any of the Loan Documents or constitute a waiver of any provision of any
of the Loan Documents.

Bank Loan Final-Amendment                                   AZZ First Amendment

                                       6

<PAGE>

                 (d) Borrower (A) ratifies and confirms all provisions of the
Loan Documents applicable to Borrower, and (B) ratifies and confirms that all
guaranties, assurances, and Liens granted, conveyed, or assigned to
Administrative Agent under the Loan Documents by Borrower are not released,
reduced, or otherwise adversely affected by this Amendment and continue to
guarantee, assure, and secure full payment and performance of the present and
future Obligation.

         Section 6. Costs and Expenses. Borrower agrees to pay on demand all
         ---------  ------------------
reasonable costs and expenses of the Administrative Agent in connection with the
preparation, execution and delivery of this Amendment and the other instruments
and documents to be delivered hereunder, including the reasonable fees and
out-of-pocket expenses of counsel for the Administrative Agent with respect
thereto and with respect to advising the Administrative Agent as to its rights
and responsibilities hereunder and thereunder.

         Section 7. Execution in Counterparts. This Amendment may be executed in
         ---------  -------------------------
any number of counterparts and by the parties hereto in separate counterparts,
each of which when so executed and delivered shall be deemed to be an original
and all of which taken together shall constitute one and the same instrument.
This agreement, when countersigned by the parties hereto, shall be a "Loan
Document" as defined and referred to in the Credit Agreement and the other Loan
Documents.

         Section 8.  Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND
         ---------   -------------
CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS.

Bank Loan Final-Amendment                                   AZZ First Amendment

                                       7

<PAGE>

         Section 9. ENTIRETY. THIS AMENDMENT, THE CREDIT AGREEMENT, THE NOTES
         -------    --------
AND THE OTHER LOAN DOCUMENTS EMBODY THE FINAL, ENTIRE AGREEMENT AMONG THE
PARTIES HERETO AND SUPERSEDE ANY AND ALL PRIOR COMMITMENTS, AGREEMENTS,
REPRESENTATIONS, AND UNDERSTANDINGS, WHETHER WRITTEN OR ORAL, RELATING TO THE
SUBJECT MATTER HEREOF AND MAY NOT BE CONTRADICTED OR VARIED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF THE
PARTIES HERETO. THERE ARE NO ORAL AGREEMENTS AMONG THE PARTIES HERETO.

                                           AZZ INCORPORATED

                                           By: /s/ DANA PERRY
                                               ---------------------------------
                                               Name:  Dana Perry
                                                     ---------------------------
                                               Title: Vice President
                                                     ---------------------------

                                Signature Page to
                               AZZ First Amendment

<PAGE>

                                 ADMINISTRATIVE AGENT:
                                 --------------------

                                 BANK OF AMERICA, N.A., as Administrative Agent

                                 By:  /s/  MICHAEL BRASHLER
                                     -------------------------------------------
                                     Name:  Michael Brashler
                                            ------------------------------------
                                     Title: Agency Officer
                                            ------------------------------------

                                Signature Page to
                               AZZ First Amendment

<PAGE>

                                      LENDERS:
                                      -------

                                      BANK OF AMERICA, N.A.

                                      By:  /s/ STEVEN A. MACKENZIE
                                           ------------------------------------
                                           Name:   Steven A. Mackenzie
                                           Title:  Vice President

                                Signature Page to
                               AZZ First Amendment

<PAGE>

                                        COMERICA BANK - TEXAS

                                        By: /s/ COREY R. BAILEY
                                            ------------------------------------
                                            Name:  Corey R. Bailey
                                            Title: Assistant Vice President

                                Signature Page to
                               AZZ First Amendment

<PAGE>

                                     GUARANTY BANK

                                     By:  /s/ ROBERT S. HAYS
                                          --------------------------------------
                                          Name:  Robert S. Hays
                                          Title: Senior Vice President

                                Signature Page to
                               AZZ First Amendment

<PAGE>

                                          WELLS FARGO BANK TEXAS, NATIONAL
                                          ASSOCIATION

                                          By: /s/ RUSTY ANDERSON
                                              ----------------------------------
                                              Name:  Rusty Anderson
                                              Title: Vice President

                                Signature Page to
                                AZZ First Amendment

<PAGE>

To induce Administrative Agent and Lenders to enter into this Amendment, the
undersigned consent and agree (a) to its execution and delivery and terms and
conditions thereof, (b) that this document in no way releases, diminishes,
impairs, reduces, or otherwise adversely affects any Liens, charges, guaranties,
assurances, or other obligations or undertakings of any of the undersigned under
any Loan Documents, and (c) waive notice of acceptance of this Amendment, which
Amendment binds each of the undersigned and their respective successors and
permitted assigns and inures to Administrative Agent, Lenders, and their
respective successors and permitted assigns.

                                       GUARANTORS:

                                       AZTEC INDUSTRIES, INC.
                                       THE CALVERT COMPANY, INC.
                                       GULF COAST GALVANIZING, INC.
                                       ARKGALV, INC.
                                       ARBOR-CROWLEY, INC.
                                       ATKINSON INDUSTRIES, INC.
                                       AZTEC INDUSTRIES, INC. - MOSS POINT
                                       AUTOMATIC PROCESSING INCORPORATED
                                       ARIZONA GALVANIZING, INC.
                                       HOBSON GALVANIZING, INC.
                                       CGIT WESTBORO, INC.
                                       WESTSIDE GALVANIZING SERVICES, INC.
                                       CARTER AND CRAWLEY, INC.
                                       CENTRAL ELECTRIC COMPANY
                                       CENTRAL ELECTRIC MANUFACTURING
                                           COMPANY
                                       ELECTRICAL POWER SYSTEMS, INC.
                                       CLARK CONTROL SYSTEMS, INC.
                                       AZTEC MANUFACTURING PARTNERSHIP,
                                       LTD.
                                       By:  AZZ GROUP, LP, its General Partner
                                            By: AZZ GP, LLC, its General Partner

                                       AZTEC MANUFACTURING - WASKOM
                                            Partnership, LTD.
                                       By:  AZZ GROUP, LP, its General Partner
                                            By: AZZ GP, LLC, its General Partner

                                       RIG-A-LITE PARTNERSHIP, LTD.
                                       By:  AZZ GROUP, LP, its General Partner
                                            By: AZZ GP, LLC, its General Partner

                                Signature Page to
                               AZZ First Amendment

<PAGE>

                                        INTERNATIONAL GALVANIZERS
                                            PARTNERSHIP, LTD.
                                        By: AZZ GROUP, LP, its General Partner
                                            By: AZZ GP, LLC, its General Partner

                                        DRILLING RIG ELECTRICAL SYSTEMS CO.
                                            PARTNERSHIP, LTD.
                                        By: AZZ GROUP, LP, its General Partner
                                            By: AZZ GP, LLC, its General Partner

                                        AZZ GROUP, LP
                                        By: AZZ GP, LLC, its General Partner

                                        AZZ GP, LLC

                                        AZZ LP, LLC

                                        By /s/ DANA L. PERRY
                                           -----------------------------------
                                           Dana L. Perry
                                           Secretary

                                        AZZ HOLDINGS, INC.

                                        By /s/ MIKE McLAIN
                                           -----------------------------------
                                           Mike McLain
                                           President

                              Signature Page to
                               AZZ First Amendment

<PAGE>

                                  SCHEDULE 2.1
                                  ------------

                             LENDERS AND COMMITMENTS
                             -----------------------

<TABLE>
<CAPTION>
=====================================================================================================================

NAME AND ADDRESS                    COMMITTED           COMMITMENT           COMMITTED            COMMITMENT
   OF LENDERS                         SUMS-            PERCENTAGES -        SUMS - TERM          PERCENTAGES -
                                    REVOLVER             REVOLVER             FACILITY          TERM FACILITY
                                    FACILITY             FACILITY
=====================================================================================================================
<S>                             <C>                    <C>                 <C>                    <C>
Bank of America, N.A.           $15,882,354.00         35.294120000         $14,117,646.00         35.294115000
901 Main Street, 67th  Floor
Dallas, Texas  75202
Attn:  Steven A. MacKenzie
(214) 209-3680; (214)
209-3140 (fax)
---------------------------------------------------------------------------------------------------------------------
Comerica Bank - Texas           $10,588,235.00         23.529411111         $9,411,765.00          23.529412500
8828 Stemmons Freeway,
Suite 441
Dallas, Texas  75247
Attn: Donald P. Hellman,
Senior Vice President
(214) 589-4419; (972)
263-9837 (fax)
---------------------------------------------------------------------------------------------------------------------
Guaranty Bank                   $7,941,176.00          17.647057778         $7,058,824.00          17.647060000
8333 Douglas Avenue
Dallas, Texas  75225
Attn: Robert S. Hays
(214) 360-2821; (214)
360-8908 (fax)
---------------------------------------------------------------------------------------------------------------------
Wells Fargo Bank Texas,         $10,588,235.00         23.529411111         $9,411,765.00          23.529412500
National Association
505 Main Street, Suite 300
Fort Worth, Texas  76102
Attn:  Rusty Anderson
(817) 334-7089; (817)
334-7000 (fax)
---------------------------------------------------------------------------------------------------------------------
                                $45,000,000.00        100.000000000%        $40,000,000.00        100.000000000%

=====================================================================================================================
</TABLE>

               Bank Loan Final-Amendment

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