Document:

Hawk Corporation Management Change

    EXHIBIT
      10.1    

     

    

      AGREEMENT,
        RELEASE AND WAIVER

      

      

      THIS
        AGREEMENT, RELEASE AND WAIVER (“Agreement”)
        is
        entered into on the 23rd day of January, 2007, by and between STEVEN
        J.
        CAMPBELL, a resident of the State of Ohio (“Employee”),
        and
        HAWK CORPORATION, a Delaware corporation (“Hawk”).

      

      WHEREAS,
        Employee has been an employee of Hawk Precision Components Group, Inc., an
        Ohio
        Corporation (“HPCG”),
        pursuant to the terms of an Agreement of Employment, Confidentiality and
        Non-Competition dated as of August 14, 2006, as modified by letter
        agreements dated as of November 3, 2006 and December 20, 2006
        (together, the “HPCG
        Agreement”);

      

      WHEREAS,
        HPCG is a subsidiary of Hawk;

      

      WHEREAS,
        Employee is a Senior Vice President of Hawk;

      

      WHEREAS,
        previously, Employee was employed by Friction Products Co., an Ohio corporation
        (“Friction”)
        that
        is also an indirect subsidiary of Hawk, pursuant to the terms of an Agreement
        of
        Employment, Confidentiality and Non-Competition dated as of January 27,
        2000, as amended by a First Amendment to Agreement of Employment,
        Confidentiality and Non-Competition dated as of October 5, 2004 (together,
        the “Friction
        Agreement”);

      

      WHEREAS,
        pursuant to the Friction Agreement, Employee also served as the President
        of Tex
        Racing Enterprises, Inc., a Delaware corporation that is also a subsidiary
        of
        Hawk;

      

      WHEREAS,
        Employee and Hawk are parties to a Change in Control Agreement dated as of
        August 14, 2006 (the “CIC
        Agreement”)
        pursuant to which Employee is entitled to receive certain benefits upon a
        change
        in control of Hawk provided that Employee is then in the employ of Hawk or
        any
        of its subsidiaries;

      

      WHEREAS,
        Employee and Hawk are parties to Incentive Stock Option Agreements dated
        as of
        February 1, 2000, October 5, 2001, January 30, 2004 and
        August 20, 2004 and to a Non-Statutory Stock Option Agreement dated as of
        August 20, 2004 (collectively, the “Stock
        Options”
and,
        together with the HPCG Agreement, the Friction Agreement, the CIC Agreement
        and
        any other agreements (other than this Agreement and the PCGH Employment
        Agreement, as defined below) between Employee, on the one hand, and Hawk
        and/or
        any other subsidiary or affiliate of Hawk, on the other hand, the “Contracts”);

      

      WHEREAS,
        on December 21, 2006, Employee entered into an employment agreement with
        PCG Holdings Group Inc., a Delaware corporation (“PCGH”)
        (the
“PCGH
        Employment Agreement”),
        that
        will not become effective unless and until the transactions contemplated
        by that
        certain Stock Purchase Agreement (the “Purchase
        Agreement”)
        by and
        between Hawk and PCGH dated as of December 21, 2006 (the “Contemplated
        Transactions”)
        are
        consummated;

      

      WHEREAS,
        in conjunction with the negotiation of the Purchase Agreement and the PCGH
        Employment Agreement and the continued employment of Employee with HPCG through
        the closing date of the Contemplated Transactions (the “Closing
        Date”),
        Hawk
        induced and PCGH agreed to provide additional value to Employee under the
        PCGH
        Employment Agreement;

      

      WHEREAS,
        one of the conditions to the obligation of Hawk to consummate the Contemplated
        Transactions is that Employee have executed and delivered this Agreement
        at
        least eight (8) days prior to the Closing Date of the Contemplated
        Transactions, and that Employee not have revoked, rescinded or repudiated
        this
        Agreement (the “Closing
        Condition”);
        and

      

      WHEREAS,
        Employee and Hawk now desire to (i) resolve all matters arising out of or
        related to Employee’s employment with and/or association with Hawk and each of
        its other subsidiaries or affiliates, and the Contracts, and (ii) enable
        Employee to enjoy the benefits of employment with PCGH, under the PCGH
        Employment Agreement or otherwise, by satisfying the Closing Condition and
        consummating the Contemplated Transactions;

      

      NOW,
        THEREFORE, in consideration of the foregoing recitals, of the covenants and
        agreements set forth herein and of other good and valuable consideration,
        the
        receipt and sufficiency of which are hereby acknowledged, the parties agree
        as
        follows:

      

      1. Hawk’s
        Actions.
        From
        the Date of this Agreement through the closing of the Contemplated Transactions
        (the “Closing”),
        Hawk
        shall cause Hawk MIM, Inc., an Ohio corporation that is an indirect wholly-owned
        subsidiary of Hawk, to continue to pay Employee his current base salary and
        provide Employee his current benefits.

      

      2. Release
        and Waiver.
        Except
        as otherwise specifically provided in this Agreement, with respect to any
        and
        all events occurring on or before the date of this Agreement arising out
        of or
        related to Employee’s employment, association and/or relationship with Hawk and
        any other subsidiary or affiliate of Hawk, or with respect to any of the
        Contracts:

      

      (a) Employee
        hereby releases and forever discharges Hawk, and each of its subsidiaries,
        affiliates, related companies, predecessors, successors, current and former
        agents, partners, officers, directors, shareholders, insurers, attorneys,
        employees, representatives and assigns (each, a “Released
        Party”
and,
        collectively, the “Released
        Parties”),
        from
        any and all claims, demands and causes of action, known and unknown; this
        includes, among other things, claims based on the legal theories of wrongful
        or
        unjust termination, breach of contract (express or implied), promissory
        estoppel, negligent or intentional (tortious) conduct, negligent or intentional
        infliction of emotional distress, defamation, breach of any implied covenant
        of
        good faith and fair dealing, violation of public policy, claims for failure
        to
        pay a bonus, claims for failure to pay a success bonus based on the Contemplated
        Transactions or any other transaction(s) related to any Released Party, claims
        for failure to pay severance, claims under any of the Contracts, claims under
        the Hawk 1997 Stock Option Plan, claims under the Hawk 2000 Long Term Incentive
        Plan, claims under any other stock, incentive, bonus, compensation, severance,
        insurance, welfare, benefit or other plan of Hawk or any other Released Party,
        and any and all forms of employment discrimination, and including claims
        for
        attorneys’ fees, expenses and costs related to any of the foregoing;
provided,
        however,
        that
        the foregoing release shall not affect (i) any of Employee’s rights under the
        PCGH Employment Agreement or (ii) any of the rights set forth in paragraph
        4 of
        this Agreement and the Stock Options related thereto; and

      

      (b) Employee
        hereby releases and forever discharges each of the Released Parties from
        any and
        all claims, demands and causes of action, and waives any rights he may have,
        under Title VII of the Civil Rights Act of 1964, under 42 U.S.C. §1981,
        under the Age Discrimination in Employment Act (“ADEA”),
        under
        the Americans With Disabilities Act, under the Family and Medical Leave Act
        of
        1993, under the Civil Rights Attorney’s Fees Awards Act of 1976, under the Ohio
        Fair Employment Practices Act, or under any other federal, state or local
        statute prohibiting discrimination in employment, or to request that a lawsuit
        be instituted pursuant to 29 U.S.C. §206(d); and

      

      (c) Employee
        agrees not to institute a lawsuit with respect to any matters released or
        any
        rights waived in this Agreement. It is understood and agreed that nothing
        contained in this Agreement is intended to affect Employee’s right to file an
        administrative charge with the Equal Employment Opportunity Commission (EEOC),
        subject to the restriction that if any such charge is filed Employee agrees
        not
        to seek or in any way obtain or accept any monetary award, recovery, settlement
        or relief therefrom. Nothing in this Agreement shall prevent Employee from
        filing a legal action to challenge whether his agreement to the terms of
        this
        Agreement was knowing and voluntary for purposes of the ADEA, or to pursue
        any
        claims that by law he cannot waive. Employee further agrees that should any
        class or collective action lawsuit in which he may be a participant be brought
        against any Released Party, he will opt-out (or refrain from opting in) to
        the
        class or collective action.

      

      3. Change
        in Control Agreement.
        Employee acknowledges that a Change in Control (as defined in the CIC Agreement)
        under the CIC Agreement shall not be deemed to have occurred by virtue of
        the
        execution of the Purchase Agreement or the consummation of any or all of
        the
        Contemplated Transactions, and that he shall not at any time be deemed to
        have
        suffered a Qualifying Termination (as defined in the CIC Agreement) under
        the
        CIC Agreement. Notwithstanding the foregoing, Employee acknowledges that
        Exhibit B to the CIC Agreement, titled Restricted Covenants (“Exhibit
        B”),is
        incorporated herein by reference, and shall remain in full force and effect
        in
        accordance with its terms; provided,
        however,
        that
        Section 3 of Exhibit B shall not apply to Employee while he remains
        employed by HPCG or any of its direct or indirect subsidiaries.

      

      4. Stock
        Options.
        Employee’s stock options that are vested as of the Closing will remain
        exercisable subject to the terms of the Stock Options. Any of Employee’s stock
        options that are unvested as of the Closing will be forfeited pursuant to
        the
        terms of the Stock Options. Employee acknowledges and agrees that the Purchase
        Agreement and the closing of the Contemplated Transactions shall not accelerate
        the vesting of any stock options. 

      

      5. No
        Future Employment.
        Employee covenants and agrees that (i) following the Closing, he will not
        apply for employment with any of the Released Parties other than HPCG or
        its
        subsidiaries, and (ii) in the event that he does in fact apply for any such
        employment in violation of the terms of clause (i) above, none of such
        Released Parties shall have any obligation to consider him for such
        employment.

      

      6. Cooperation.
        Employee agrees to fully cooperate, in good faith and to the best of his
        ability, with reasonable requests of Hawk and/or any of the Released Parties
        in
        connection with all pending, threatened or future claims, actions, litigations,
        arbitrations or inquiries by any state, federal, foreign or private person
        or
        entity, directly or indirectly arising from or relating to any transaction,
        event or activity he was involved in, participated in or had knowledge of
        in the
        course of his involvement with Hawk or such Released Party. Such cooperation
        will be at mutually-agreeable times and Hawk or such Released Party, as the
        case
        may be, shall reimburse Employee for his out-of-pocket expenses reasonably
        incurred in providing such cooperation.

      

      7. Terms
        of Offer; Revocation.

      

      (a) This
        Agreement has been delivered to Employee, by email, on the 4th day of January,
        2007. The offer contained herein shall remain open until the end of the
        twenty-first (21st) full day after delivery. The parties hereby agree that
        any changes to the terms of this Agreement which they agree to make during
        the
        period from the date of delivery just described through the date of execution
        of
        this Agreement, whether material or immaterial, do not restart the running
        of
        the time period set forth in the preceding sentence.

      

      (b) After
        execution of this Agreement, Employee may revoke his agreement hereto by
        delivering written notice of revocation to Hawk and to Hawk (to the attention
        of
        Joseph J. Levanduski, 200 Public Square, Suite 1500, Cleveland, Ohio 44114)
        at any time during the period from the date of Employee’s execution through the
        end of the seventh (7th) full day after such execution (the “Revocation
        Period”).
        This
        Agreement shall not be effective, and no actions shall be taken under this
        Agreement, until the expiration of the Revocation Period. Upon expiration
        of the
        Revocation Period following Employee’s execution of the Agreement, this
        Agreement shall be fully effective and enforceable.

      

      8. No
        Liability.
        Nothing
        contained in this Agreement is intended to constitute an admission by Hawk
        or
        any other Released Party of liability of any nature whatsoever to Employee,
        and
        Hawk expressly denies any such liability.

      

      9. Governing
        Law; Jurisdiction.
        This
        Agreement shall be governed by and shall be interpreted in accordance with
        the
        laws of the State of Ohio, and the parties hereby confer jurisdiction upon
        the
        courts of any jurisdiction within the State of Ohio to determine any dispute
        arising out of or related to this Agreement, or the breach hereof.

      

      10. Costs
        of Action.
        In the
        event that any party to this Agreement or any Released Party brings any action
        or proceeding in connection with this Agreement, the prevailing party in
        such
        action shall be entitled to recover, as part of such action or proceeding,
        its
        costs therein including reasonable attorneys’ fees.

      

      11. Headings.
        The
        section and other headings contained in this Agreement are for reference
        purposes only and shall not affect the meaning or interpretation of this
        Agreement.

      

      12. Severability.
        It is
        the intention of the parties that the terms and provisions of this Agreement
        be
        construed to be separable and severable. If any term or provision of this
        Agreement shall be held void, invalid, unenforceable or in conflict with
        any
        applicable law, all of the other terms and provisions of this Agreement shall
        remain valid and fully enforceable.

      

      13. Assignment;
        Benefit and Burden.
        This
        Agreement is not assignable by Employee. This Agreement shall bind and inure
        to
        the benefit of the parties hereto and their respective present, former and
        future heirs, beneficiaries, estates, spouses, personal representatives,
        affiliates, successors and permitted assigns, and is specifically entered
        into
        for the benefit of and may be enforced by any of the Released
        Parties.

      

      14. Amendment.
        This
        Agreement may not be changed orally, but may be amended, superseded, cancelled,
        renewed or extended, and the terms hereof may be waived, only by an instrument
        in writing signed by each of the parties, or, in the case of a waiver, signed
        by
        the party against whom enforcement of such waiver is being sought.

      

      15. Entire
        Agreement.
        This
        Agreement embodies the entire agreement between the parties hereto with respect
        to the subject matter hereof and supersedes all prior agreements and
        understandings, oral or written, with respect thereof; provided,
        however,
        that
        the obligations of Employee under sections 4 through 15 of the HPCG
        Agreement shall remain in full force and effect in accordance with their
        respective terms.

      

      16. Acknowledgements.
        Employee acknowledges that he has carefully read all of the terms of this
        Agreement; that such terms have been fully explained to him and that he
        understands the consequences of each and every term; that he has had adequate
        time to consult with, and has consulted with, his own legal advisor prior
        to
        signing this Agreement; and that he specifically understands that by signing
        this Agreement he is giving up any and all rights he may have against Hawk
        and
        any Released Party under the laws and legal theories referred to above with
        respect to events occurring on or before the date of this
        Agreement.

      

      17. Counterparts.
        This
        Agreement may be executed in any number of counterparts, including by facsimile
        or electronic signature included in an Adobe PDF file, each of which shall
        be
        deemed to be an original, but all of which together shall constitute one
        and the
        same instrument. This Agreement shall become effective when counterparts
        have
        been signed by each party and delivered to the other parties, it being
        understood that the parties need not sign the same counterpart.

      

      

      [This
        space intentionally left blank]

      

      
        
           

        

        
           

          
          

        

        
           

        

      

      IN
        WITNESS WHEREOF, this Agreement, Release and Waiver has been duly executed
        and
        delivered at Cleveland, Ohio on the date first set forth above.

      

      
        	 	 	 
	 	 
	 	 
 	 
	 	By:  	/s/ Steven
                J.
                Campbell
	 	
                
STEVEN
                J. CAMPBELL
	 	 

      
        	 	 	 
	 	HAWK
                CORPORATION
	 
 	 
 	 
 
	 	By:  	/s/ Joseph
                J. Levanduski
	 	
                
Joseph
                J. Levanduski
	 	Vice
                President - CFOEXECUTION COPY

                       PREFERRED STOCK PURCHASE AGREEMENT

                          dated as of January 31, 2007

                                  by and among

                              WOLVERINE TUBE, INC.

                                       and

                         THE PURCHASERS SIGNATORY HERETO

<PAGE>

                                TABLE OF CONTENTS

                                                                            Page
                                                                            ----

ARTICLE I      DEFINITIONS.....................................................1
      1.1      Definitions.....................................................1

ARTICLE II     PURCHASE AND SALE...............................................7
      2.1      Closing.........................................................7
      2.2      Closing Deliveries..............................................8

ARTICLE III    REPRESENTATIONS AND WARRANTIES..................................9
      3.1      Representations and Warranties of the Company...................9
      3.2      Disclaimer of Other Representations and Warranties; Knowledge..19
      3.3      Representations and Warranties of the Purchasers...............19

ARTICLE IV     OTHER AGREEMENTS OF THE PARTIES................................21
      4.1      Transfer Restrictions..........................................21
      4.2      Furnishing of Information......................................22
      4.3      Integration....................................................22
      4.4      Reservation and Listing of Securities..........................22
      4.5      Access.........................................................22
      4.6      Use of Proceeds................................................23
      4.7      D & O Insurance; Board.........................................23
      4.8      Properties, Business Insurance.................................23
      4.9      Indemnification................................................23
      4.10     Approvals; Taking of Actions...................................24
      4.11     Purchaser Directors............................................24
      4.12     Registered Exchange Offer......................................25
      4.13     Rights Offering; Standby.......................................26
      4.14     Stockholder Approval...........................................27

ARTICLE V      CONDITIONS.....................................................29
      5.1      Conditions Precedent to the Obligations of the Purchasers......29
      5.2      Conditions Precedent to the Obligations of the Company.........30

ARTICLE VI     MISCELLANEOUS..................................................31
      6.1      Exclusive Dealing..............................................31
      6.2      Termination....................................................31
      6.3      Fees and Expenses..............................................32
      6.4      HSR Act Filings................................................32
      6.5      Entire Agreement...............................................33
      6.6      Notices........................................................33
      6.7      Amendments; Waivers............................................34
      6.8      Construction...................................................34
      6.9      Successors and Assigns.........................................34
      6.10     No Third-Party Beneficiaries...................................34
      6.11     Governing Law; Venue; Waiver of Jury Trial.....................34
      6.12     Survival.......................................................35
      6.13     Execution......................................................35

<PAGE>

      6.14     Severability...................................................35
      6.15     Rescission and Withdrawal Right................................35
      6.16     Remedies.......................................................35
      6.17     Adjustments in Share Numbers and Prices........................35

                                       i
<PAGE>

                       PREFERRED STOCK PURCHASE AGREEMENT

          This Preferred  Stock Purchase  Agreement is entered into and dated as
of January 31, 2007 (this  "Agreement"),  by and among WOLVERINE  TUBE,  INC., a
corporation   incorporated  under  the  laws  of  the  state  of  Delaware  (the
"Company"),  and each of the purchasers identified on the signature pages hereto
(each, a "Purchaser," and collectively,  the "Purchasers," and together with the
Company, the "Parties" and each, individually, a "Party").

          WHEREAS,  subject  to the  terms  and  conditions  set  forth  in this
Agreement and pursuant to Section 4(2) of the  Securities  Act, as amended,  and
Rule 506 promulgated  thereunder,  the Company desires to issue and sell to each
Purchaser,  and each Purchaser,  severally and not jointly,  desires to purchase
from the Company,  certain  securities of the Company  pursuant to the terms set
forth herein.

          WHEREAS,  the  Company  has  authorized  a new  series of  convertible
preferred  stock  designated as the Series A Convertible  Preferred Stock of the
Company  (the  "Series A  Preferred  Stock"),  having the  rights,  preferences,
privileges  and   restrictions  set  forth  in  the  Series  A  Preferred  Stock
Certificate  of  Designations  (the  "Series A  Certificate  of  Designations"),
attached  hereto  as  Exhibit  A,  which  Series  A  Preferred  Stock  shall  be
convertible  into the Common  Stock,  par value $0.01 per share,  of the Company
(the "Common Stock") in accordance with the terms of the Series A Certificate of
Designations.

          WHEREAS,  as a condition to the  willingness  of, and as an inducement
to, the  Purchasers  to enter into this  Agreement,  the  Company  has agreed to
undertake  the  Registered  Exchange  Offer  and the  Rights  Offering,  each as
described  herein,  and the Purchasers have agreed to participate,  on the terms
and  conditions  set  forth  herein,  in the  Registered  Exchange  Offer and in
providing  financing  dependent  upon the  outcome of the Rights  Offering  as a
condition to the  willingness  of and as an  inducement  to the Company to enter
into this Agreement.

          NOW, THEREFORE,  in consideration of the mutual covenants contained in
this Agreement,  and for other good and valuable consideration,  the receipt and
adequacy of which are hereby  acknowledged,  the Company and,  severally and not
jointly, each Purchaser, agree as follows:

                                    ARTICLE I
                                   DEFINITIONS

          1.1  Definitions.  In addition to the terms defined  elsewhere in this
Agreement, the following terms shall have the meanings set forth in this Section
1.1:

               "$" means U.S. Dollars.

               "7.375% Holder" means any holder of the 7.375% Notes.

               "7.375%  Notes" means the  currently  outstanding  7.375%  Senior
Notes due 2008 issued by the Company.

               "10.5% Notes" means the currently  outstanding 10.5% Senior Notes
due 2009 issued by the Company.

               "Affiliate" of a Person means any other Person that,  directly or
indirectly through one or more  intermediaries,  controls or is controlled by or
is under common  control with the first Person.  Without  limiting the foregoing
with respect to a Purchaser, any investment fund or managed account that

<PAGE>

is managed by the same investment manager as such Purchaser will be deemed to be
an Affiliate of such Purchaser.

               "Aggregate  Purchase  Price" has the meaning set forth in Section
2.1.

               "Alpine" means The Alpine Group, Inc. and any permitted successor
or assignee thereof.

               "Alternative  Restructuring" has the meaning set forth in Section
6.1.

               "Board" means the board of directors of the Company.

               "Business Day" means any day except Saturday,  Sunday and any day
on which banking institutions in New York City are authorized or required by law
or other governmental action to close.

               "Clearance Date" has the meaning set forth in Section 4.14(b).

               "Closing"  means  the  closing  of the  purchase  and sale of the
Shares pursuant to Section 2.1.

               "Closing Date" has the meaning set forth in Section 2.1.

               "Code" means the Internal  Revenue Code of 1986, as amended,  and
the rules and regulations promulgated thereunder.

               "Commission" means the U.S. Securities and Exchange Commission.

               "Common  Share  Equivalents"  means,  collectively,  Options  and
Convertible Securities.

               "Common  Shares"  means the shares of Common Stock of the Company
and any securities into which such shares may hereafter be reclassified.

               "Common  Stock" has the meaning set forth in the recitals to this
Agreement.

               "Company  Counsel"  means  LeBoeuf,  Lamb,  Greene & MacRae  LLP,
counsel to the Company.

               "Company  Intellectual  Property  Rights" means all  Intellectual
Property that is used or held for use in connection  with the  businesses of the
Company and its Subsidiaries as currently conducted.

               "Company  Related  Persons"  has the meaning set forth in Section
6.1.

               "Convertible  Securities"  means any stock or  securities  (other
than Options) convertible into or exercisable or exchangeable for Common Shares.

               "Disclosure  Materials"  has the  meaning  set  forth in  Section
3.1(h).

               "DOJ"  means  the   Antitrust   Division  of  the  United  States
Department of Justice.

               "Employee Plan" has the meaning set forth in Section 3.1(m)(i).

                                       2
<PAGE>

               "Employees" means the current and former employees of the Company
and/or any of the Subsidiaries.

               "Employment  Laws"  means any and all Laws in  respect of matters
pertaining to employment.

               "Environmental  Laws" means any and all Laws (including,  without
limitation,  principles  of  negligence  and strict  liability)  relating to the
pollution, protection,  investigation,  remediation,  monitoring, damages to, or
restoration  of  the  environment   (including,   without  limitation,   natural
resources) or the health or safety of humans.

               "Equity Plan" means any stock option plan,  stock  purchase plan,
stock  bonus  plan,  deferred   compensation  plan,  employee  benefit  plan  or
management grant of the Company, as may be in effect from time to time.

               "ERISA" has the meaning set forth in Section 3.1(m)(i).

               "ERISA Affiliate" has the meaning set forth in Section 3.1(m)(i).

               "Exchange  Act" means the  Securities  Exchange  Act of 1934,  as
amended.

               "Exchange Agent" means U.S. Bank National  Association,  or other
national  banking  association  agreed to by the Parties in its  capacity as the
initial exchange agent.

               "Exchange  Notes" means debt securities of the Company  identical
in all material  respects to the 10.5% Notes  (except  that the  Exchange  Notes
shall bear less  restrictive  debt  covenants  as  mutually  agreed  between the
Company and the Purchasers).

               "Exchange  Offer  Registration  Period"  means the one  (1)-month
period following the effectiveness of the Exchange Offer Registration Statement,
exclusive  of any  period  during  which  any  stop  order  shall  be in  effect
suspending the effectiveness of the Exchange Offer  Registration  Statement,  or
such  shorter  period  as will  terminate  when all  Securities  covered  by the
Exchange Offer Registration Statement have been exchanged pursuant thereto.

               "Exchange  Offer  Registration  Statement"  means a  registration
statement of the Company on an  appropriate  form under the  Securities Act with
respect to the Registered Exchange Offer, all amendments and supplements to such
registration  statement,  including  post-effective  amendments thereto, in each
case including the prospectus  contained  therein,  all exhibits thereto and all
material incorporated by reference therein.

               "Fees and Expenses" has the meaning set forth in Section 6.3.

               "Foreign  Benefit  Plan" has the  meaning  set  forth in  Section
3.1(m)(v).

               "Former  Real  Property"  has the  meaning  set forth in  Section
3.1(bb)(i).

               "FTC" means the United States Federal Trade Commission.

               "GAAP" means U.S. generally accepted  accounting  principles,  as
recognized  by the American  Institute of Certified  Public  Accountants  or the
Financial Accounting Standards Board,

                                       3
<PAGE>

consistently applied and maintained on a consistent basis for the Company and
its Subsidiaries throughout the period indicated.

               "Governmental     Authority"     means    any    government    or
quasi-governmental  or political subdivision or any agency,  authority,  bureau,
central bank, commission, department or instrumentality,  self-regulatory entity
or any court, tribunal,  grand jury or arbitrator,  in each case whether foreign
or domestic.

               "Hazardous   Materials"  means  petroleum,   petroleum  products,
petroleum-derived   substances,   radioactive   materials,   hazardous   wastes,
polychlorinated biphenyls, lead based paint, radon, urea formaldehyde,  asbestos
or any asbestos containing materials, and any chemicals, materials or substances
regulated under  Environmental  Laws or defined as or included in the definition
of "hazardous substances," "hazardous wastes," "extremely hazardous substances,"
"hazardous   materials,"    "hazardous    constituents,"   "toxic   substances,"
"pollutants," "contaminants" or any similar denomination intended to classify or
regulate  substances  by  reason  of  toxicity,  carcinogenicity,  ignitability,
corrosivity or reactivity under any Environmental Law.

               "HSR Act" means the Hart-Scott-Rodino  Antitrust Improvements Act
of 1976, as amended, and the rules and regulations thereunder.

               "Indebtedness"   of  any  Person   means  (a)  all   indebtedness
representing money borrowed which is created, assumed, incurred or guaranteed in
any manner by such  Person or for which  such  Person is  responsible  or liable
(whether by guarantee of such indebtedness,  agreement to purchase  indebtedness
of, or to supply funds to or invest in, others or otherwise),  (b) any direct or
contingent  obligations  of such  Person  arising  under  any  letter  of credit
(including standby and commercial), bankers acceptances, bank guaranties, surety
bonds and similar instruments,  and (c) all indebtedness pursuant to clauses (a)
and (b) above of another  entity  secured by any Lien  existing  on  property or
assets owned by such Person.

               "Information  Statement"  has the  meaning  set forth in  Section
4.10.

               "Intellectual   Property"   means  (a)  patents   (including  all
reissues, divisions, continuations,  continuations-in-part,  re-examinations and
extensions  thereof),   utility  models  and  design  rights,  (b)  unregistered
trademarks,  trademark  registrations,   trademark  applications,   unregistered
service marks, service mark registrations and service mark applications together
with all translations,  adaptations,  derivations and combinations  thereof, (c)
unregistered copyrights and copyright registrations,  (d) Internet domain names,
uniform  resource  locators  and the  corresponding  Internet  sites,  (e) trade
secrets,  inventions,  know-how, processes and other proprietary information not
otherwise listed in (a) through (d) above, including,  without limitation, moral
and economic rights of authors and inventors (however denominated), confidential
information, technical data, customer lists, corporate and business names, trade
names, trade dress, brand names, logos, show-how,  formulae, methods (whether or
not  patentable),   invention  disclosures,   designs,  processes,   procedures,
technology,  computer  software  programs  (in both  source code and object code
forms),  databases,  data  collections  and  other  proprietary  information  or
material of any type, and all derivatives, improvements and refinements thereof,
howsoever recorded, or unrecorded,  (f) any good will associated with any of the
foregoing, and (g) all copies and tangible embodiments thereof (in whatever form
or medium), and registrations,  reservations,  applications and renewals for any
of the foregoing assets listed above.

               "Knowledge"  means  the  actual  knowledge,  after  conducting  a
reasonable investigation, of those Persons listed in Schedule 1.1.

               "Laws" means any federal,  state, local,  municipal or other law,
common  law,  rule,  regulation,  order,  judgment,  injunction,  decree,  code,
ordinance,   ruling,  policy,  guideline  or  common,   decision,   arbitral  or
administrative  law or  principle of law or equity or other  restriction  of any
Governmental  Authority  to  which  the  Company  or  a  Subsidiary  is  subject
(including  federal and state securities laws and regulations),  or by which any
property or asset of the Company or a Subsidiary is bound or affected.

               "Lien"  means  any  lien,  charge,   claim,   security  interest,
encumbrance, right of first refusal or other restriction.

               "Losses"   means   any  and  all   damages,   fines,   penalties,
deficiencies,  liabilities, claims, losses (including loss of value), judgments,
awards,  settlements,  taxes,  actions,  obligations  and costs and  expenses in
connection therewith (including,  without limitation,  interest, court costs and
fees and expenses of attorneys,  accountants  and other  experts,  and any other
expenses of litigation or other  Proceedings  (including costs of investigation,
preparation  and travel) or of any  default or  assessment),  but not  including
punitive damages unless such punitive damages are awarded to a Person in a Third
Party Claim.

               "Management  Agreement"  has the  meaning  set  forth in  Section
2.2(a)(iv).

               "Material  Adverse  Effect"  means any event,  occurrence,  fact,
circumstance,  violation,  development or change,  that,  individually or in the
aggregate  with any other  event,  occurrence,  fact,  circumstance,  violation,
development  or change,  has had or could  reasonably be expected to have: (i) a
material  adverse  effect on the  legality,  validity or  enforceability  of any
Transaction  Document,  or (ii) a  material  adverse  effect on the  results  of
operations, assets, business, prospects or condition (financial or otherwise) of
the  Company  and the  Subsidiaries,  taken  as a  whole,  or  (iii) a  material
impairment  of the Company's or any  Subsidiary's  ability to perform fully on a
timely basis its obligations under any Transaction Document;  provided, however,
that "Material  Adverse  Effect" shall exclude any such effect arising out of or
in  connection  with:  (A) general  economic or business  conditions  or changes
therein, including changes in interest or currency rates or commodity prices, or
any act of terrorism,  similar calamity or war or any escalation or worsening of
the  same;  provided  that  in  each  case  no  such  condition,  change  or act
disproportionately  affects  the  Company;  or (B) the  negotiation,  execution,
announcement  or existence or terms of this Agreement or the performance of this
Agreement or the consummation of the transactions contemplated hereby (including
any occurrence or condition  arising out of the identity of or facts relating to
Purchasers).

               "Material Contract" means any agreement, individually or together
with other  similar  agreements,  that is or would be required to be filed as an
exhibit to the SEC Reports  pursuant to Item 601(b)(10) of Regulation S-K of the
Commission, or any other agreement material to the business of the Company.

               "Meeting" has the meaning set forth in Section 4.14(b).

               "Minimum  Ownership  Percentage"  has the  meaning  set  forth in
Section 4.13(a).

               "Option Shares" has the meaning set forth in Section 4.13(a).

               "Options"  means any rights,  warrants or options to, directly or
indirectly, subscribe for or purchase Common Shares or Convertible Securities.

                                       5
<PAGE>

               "Permits" means all certificates,  authorizations,  approvals and
permits  of  Governmental  Authorities  required  for the  Company  or any  such
Subsidiary  to own,  lease  and  operate  its  properties  or to  conduct  their
respective businesses as currently conducted or contemplated to be conducted.

               "Person" means an individual or corporation,  partnership, trust,
incorporated or  unincorporated  association,  joint venture,  limited liability
company,   joint  stock  company,   Governmental  Authority  (or  an  agency  or
subdivision thereof) or other entity of any kind.

               "Plainfield"  means  Plainfield  Asset  Management  LLC  and  any
permitted successor or assignee thereof.

               "Proceeding"   means   an   action,   claim,   suit,   grievance,
arbitration,   complaint,   inquiry,  notice  of  violation,   investigation  or
proceeding   (including,   without  limitation,   an  investigation  or  partial
proceeding, such as a deposition).

               "Proposal" has the meaning set forth in Section 4.14(a).

               "Purchaser  Counsel"  means  Proskauer  Rose LLP,  counsel to the
Purchasers.

               "Purchaser  Designee"  has  the  meaning  set  forth  in  Section
4.11(a)(i).

               "Real  Property"  means  any  real  property   currently   owned,
operated, used or leased by the Company or any Subsidiary.

               "Registered  Exchange  Offer" shall mean the offer of the Company
to issue and deliver to 7.375%  Holders  that are not  prohibited  by any law or
policy of the Commission from  participating in such offer, in exchange for such
7.375% Holders'  respective  7.375% Notes, a like aggregate  principal amount of
Exchange Notes, or other exchange of the Company's  outstanding  debt securities
for new securities as may be agreed between the Company and the Purchasers.

               "Registration  Rights Agreement" that certain Registration Rights
Agreement,  dated as of the Closing  Date,  by and among the Company and each of
the  Purchasers,  substantially  in the  form of  Exhibit  B, as the same may be
amended, modified or supplemented from time to time.

               "Related  Person"  means any  Affiliate  of a  Purchaser  and any
officer, director, partner, advisor,  controlling person, employee or agent of a
Purchaser or any of their respective Affiliates.

               "Rights Offering" has the meaning set forth in Section 4.13(a).

               "Rights  Offering  Registration  Statement"  has the  meaning set
forth in Section 4.13(b).

               "Rule   144"  and  "Rule  424"  means  Rule  144  and  Rule  424,
respectively,  promulgated by the Commission  pursuant to the Securities Act, as
such Rules may be amended from time to time,  or any similar rule or  regulation
hereafter adopted by the Commission having substantially the same effect as such
Rule.

               "Securities" means the Shares and the Underlying Shares issued or
issuable (as applicable) to the applicable Purchaser pursuant to the Transaction
Documents.

               "Securities Act" means the Securities Act of 1933, as amended.

                                       6
<PAGE>

               "SEC Reports" has the meaning set forth in Section 3.1(h).

               "Series A Certificate of Designations"  has the meaning set forth
in the recitals to this Agreement.

               "Series  A  Preferred  Stock"  has the  meaning  set forth in the
recitals to this Agreement.

               "Shares"  means the shares of Series A Preferred  Stock which are
being purchased by the Purchasers pursuant to this Agreement.

               "Standby Period" has the meaning set forth in Section 4.13(a).

               "Standby Shares" has the meaning set forth in Section 4.13(a).

               "Subsidiaries" has the meaning set forth in Section 3.1(a).

               "Third Party  Claim"  means the  assertion of any claim or demand
made by, or any action,  proceeding or  investigation  instituted by, any Person
not a party to this Agreement.

               "Trading  Day" means (a) any day on which the  Common  Shares are
listed or quoted and traded on a Trading Market, or (b) if the Common Shares are
not then listed or quoted and traded on a Trading Market, then any Business Day.

               "Trading  Market"  means the New York Stock  Exchange  or, at any
time the  Common  Shares  are not  listed  for  trading  on the New  York  Stock
Exchange,  any other  national  securities  exchange,  other  trading  market or
quotation  system,  if the  Common  Shares  are then  listed  or  quoted on such
exchange, market or system.

               "Transaction  Documents"  means  this  Agreement,  the  Series  A
Certificate of Designations,  the Securities, the Registration Rights Agreement,
the Voting Agreement,  the Management  Agreement,  the Information Statement and
any other documents or agreements  executed in connection with the  transactions
contemplated by this Agreement.

               "Transactions"   means  the  transactions   contemplated  by  the
Transaction Documents.

               "Trustee" means U.S. Bank National  Association,  in its capacity
as trustee for the Exchange Notes.

               "Underlying Shares" has the meaning set forth in Section 3.1(f).

               "U.S." means the United States of America.

               "Voting  Agreement" means that certain Voting Agreement among the
Company and the holders of the Series A Preferred Stock.

                                   ARTICLE II
                                PURCHASE AND SALE

          2.1  Closing.  Subject to the terms and  conditions  set forth in this
Agreement,  at the Closing,  the Company shall issue and sell to each Purchaser,
and each  Purchaser  shall  purchase  from the  Company,  the  number  of Shares
indicated below such Purchaser's name on Schedule 2.1 for a purchase

7
<PAGE>

price of  $1,000  per  Share  and an  aggregate  purchase  price  for all of the
Purchasers of $50,000,000 (the "Aggregate  Purchase  Price").  The Closing shall
take place at the New York  offices  of  Purchaser  Counsel at 10:00 a.m.  local
time, on a date designated by the Purchasers which is reasonably satisfactory to
the Company, which shall be as soon as practicable,  but not later than five (5)
Business  Days after the  satisfaction  or waiver of all of the  conditions  set
forth in Article V (other than those  conditions  which by their  nature must be
satisfied on the Closing Date), or at such other location or time as the parties
may agree (such date on which the Closing occurs, the "Closing Date").

         2.2 Closing Deliveries.

               (a) At the  Closing,  the  Company  shall  deliver or cause to be
delivered to each Purchaser the following:

                    (i) a  certificate  representing  the  number of the  Shares
indicated  below such  Purchaser's  name on the signature pages hereto under the
heading "Shares," registered in the name of such Purchaser;

                    (ii) evidence that the Series A Certificate of  Designations
has been filed with the  Secretary  of State of the State of Delaware and become
effective on or prior to the Closing Date;

                    (iii) the Registration  Rights  Agreement,  duly executed by
the Company;

                    (iv) the Management  Agreement  among the Company and Alpine
(the  "Management  Agreement"),  in the form of Exhibit C, duly  executed by the
Company;

                    (v) the legal  opinion  of Company  Counsel,  in the form of
Exhibit D-1,  executed by such counsel and the legal opinion of in-house counsel
of the Company in the form of Exhibit D-2, executed by such counsel;

                    (vi) a  certificate  dated as of the Closing Date and signed
by the Chief Executive  Officer of the Company  certifying as to the fulfillment
of each of the conditions set forth in Sections 5.1(a), (b), (e), (f) and (g);

                    (vii) a certificate  of the Secretary of the Company,  dated
as of the Closing Date,  certifying as to: (A) the  signatures and titles of the
officers of the Company  executing each of the  Transaction  Documents;  and (B)
resolutions  of the Board  authorizing  and  approving all matters in connection
with the Transaction Documents and the Transactions; and

                    (viii) any other documents  required to be delivered to such
Purchaser pursuant to Section 5.1 and any other documents  reasonably  requested
by such Purchaser or Purchaser Counsel.

               (b) At the  Closing,  each  Purchaser  or an  authorized  officer
thereof shall deliver or cause to be delivered to the Company the following: (i)
the purchase price indicated below such  Purchaser's name on the signature pages
hereto under the heading  "Purchase  Price," in U.S.  Dollars and in immediately
available  funds,  by wire  transfer to an account  designated in writing by the
Company for such purpose; (ii) each Transaction Document to which such Purchaser
is a signatory, duly executed by such Purchaser; (iii) the Management Agreement,
duly executed by Alpine;  and (iv) a certificate from each Purchaser dated as of
the  Closing  Date  and  signed  by an  authorized  officer  of  such  Purchaser
certifying as to the  fulfillment of each of the conditions set forth in Section
5.2(a) and Section 5.2(b).

                                       8
<PAGE>

                                  ARTICLE III
                         REPRESENTATIONS AND WARRANTIES

          3.1 Representations and Warranties of the Company.  The Company hereby
represents and warrants to each  Purchaser,  as of the date hereof and as of the
Closing as follows:

               (a)  Subsidiaries.  The Company does not  directly or  indirectly
control  or own  any  equity  or  similar  interest  in any  other  corporation,
partnership,  joint venture or other business  association or entity, other than
those listed in Schedule  3.1(a)(1) (each of which, a  "Subsidiary").  Except as
disclosed in Schedule 3.1(a)(2),  the Company owns, directly or indirectly,  all
of the capital stock of each Subsidiary free and clear of any Liens,  other than
restrictions on transfer pursuant to the Transaction  Documents or arising under
U.S. federal or state  securities laws and  regulations,  and all the issued and
outstanding  shares of capital stock of each  Subsidiary  are validly issued and
are fully paid, non-assessable and free of preemptive and similar rights.

               (b)  Organization  and  Qualification.  Except  as  disclosed  in
Schedule  3.1(b)(1),  each of the Company and the Subsidiaries is an entity duly
incorporated,  validly  existing  and in good  standing  under  the  laws of the
jurisdiction of its incorporation, with the requisite power and authority to own
and use its  properties  and assets and to carry on its  business  as  currently
conducted  or  contemplated  to be  conducted.  Except as  disclosed in Schedule
3.1(b)(2), each of the Company and the Subsidiaries is duly qualified to conduct
business and is in good standing as a foreign  corporation in each  jurisdiction
in which the nature of the business conducted or property owned by it makes such
qualification necessary,  except where the failure to be so qualified or in good
standing, as the case may be, would not have a Material Adverse Effect.

               (c)  Authorization;  Enforcement.  The Company has the  requisite
power  and  authority  to enter  into and to  consummate  the  Transactions  and
otherwise to carry out its  obligations  under the  Transaction  Documents.  The
execution and delivery of each of the  Transaction  Documents by the Company and
the consummation by the Company of the Transactions have been duly authorized by
all necessary action on the part of the Company and no further consent or action
is required by the Company, its Board or, subject to stockholder approval of the
Proposal, its stockholders. Each Transaction Document has been (or upon delivery
will have been) duly executed by the Company and,  when  delivered in accordance
with the terms hereof,  will constitute the valid and binding  obligation of the
Company enforceable against the Company in accordance with its terms.

               (d) No Conflicts. The execution,  delivery and performance of the
Transaction Documents by the Company and the consummation of the Transactions do
not and will not (i) conflict  with or violate any provision of the Company's or
any  Subsidiary's  certificate  or  articles of  incorporation,  bylaws or other
organizational  or charter  documents,  or (ii)  conflict  with, or constitute a
default  (or an event that with  notice or lapse of time or both would  become a
default)  under,  or  give to  others  any  rights  of  termination,  amendment,
acceleration or cancellation (with or without notice, lapse of time or both) of,
any agreement,  credit facility,  debt or other instrument (evidencing a Company
or Subsidiary debt or otherwise) or other  understanding to which the Company or
any  Subsidiary  is a party or by which any  property or asset of the Company or
any Subsidiary is bound or affected (except for such conflicts, defaults, rights
or violations as would not have a Material Adverse Effect), or (iii) result in a
violation of any Law.

               (e) Filings, Consents and Approvals.  Neither the Company nor any
Subsidiary is required to obtain any consent, waiver, authorization or order of,
give any notice to, or make any filing or  registration  with, any  Governmental
Authority or other Person in  connection  with the  execution or delivery by the
Company of the Transaction  Documents or the  consummation of the  Transactions,
other

                                       9
<PAGE>

than (i) approval of the Proposal by the  stockholders of the Company;  (ii) the
filing  of  the  Series  A  Certificate  of  Designations  pursuant  to  Section
2.2(a)(ii);  (iii) the filing with the Commission and the  effectiveness  of the
registration  statement  pursuant  to the  Registration  Rights  Agreement,  the
Exchange  Offer  Registration  Statement  and the Rights  Offering  Registration
Statement; (iv) applicable Blue Sky filings; (v) such filings as may be required
under the HSR Act and the expiration or early  termination of the waiting period
under  the HSR Act;  and  (vi) the  consents,  amendments  and  acknowledgements
contemplated by Sections 5.1(i) through (l), as applicable.

               (f)  Issuance  of  the   Securities.   The  Securities  are  duly
authorized  and,  when issued and paid for in  accordance  with the  Transaction
Documents,  will be duly and validly issued, fully paid and nonassessable,  free
and clear of all Liens and not subject to preemptive rights or similar rights of
stockholders.  The Company has  authorized  and has  reserved,  and covenants to
continue to reserve,  22,500,000  shares of Common  Stock  (i.e.,  the number of
shares of Common Stock that are not currently  issued or reserved for issuance);
provided,  however,  that upon the Company  filing an  amendment to its Restated
Certificate  of  Incorporation,  the Company shall  authorize  and reserve,  and
continue  to reserve,  a number of shares of Common  Stock equal to at least the
number of shares of Common Shares  issuable upon conversion of the Shares and in
satisfaction  of any other  obligation  or right of the Company to issue  Common
Shares pursuant to the Transaction  Documents,  and in each case, any securities
issued or  issuable  in  exchange  for or in  respect  of such  securities  (the
"Underlying Shares").  The issuance of the Securities to the Purchasers will not
subject the  Purchasers to any liability or obligation of any kind in respect of
or relating to the operation of the business of the Company.

               (g)  Capitalization.  The  number  of  shares  and  type  of  all
authorized,  issued and outstanding capital stock of the Company is set forth in
Schedule  3.1(g)(1).  Except as set forth in Schedule 3.1(g)(2) no securities of
the Company are entitled to preemptive or similar rights,  and no Person has any
right of first refusal, preemptive right, right of participation, or any similar
right to  participate in the  Transactions.  All  outstanding  shares of capital
stock of the Company have been duly authorized,  validly issued,  fully paid and
are nonassessable and, except as would not have a Material Adverse Effect,  have
been issued in compliance with all applicable  federal and state  securities and
corporate  laws.  Except as a result of the purchase and sale of the  Securities
and except as disclosed in Schedule  3.1(g)(3),  there are no outstanding Common
Share Equivalents, or contracts, commitments,  understandings or arrangements by
which the Company or any  Subsidiary is or may become bound to issue  additional
Common  Shares  or Common  Share  Equivalents.  Except as set forth in  Schedule
3.1(g)(4),  the issue and sale of the Shares  will not  obligate  the Company to
issue Common Shares,  Common Share Equivalents or other securities to any Person
(other  than the  Purchasers)  and will not  result in a right of any  holder of
Company securities to adjust the exercise,  conversion,  exchange or reset price
under such  securities,  or to take any other action  punitive to the Company or
any Subsidiary.

               (h)  SEC  Reports;  Press  Releases;  Financial  Statements.  The
Company  has filed all reports  required to be filed by it under the  Securities
Act and the Exchange Act,  including pursuant to Section 13(a) or 15(d) thereof,
for the two (2) years  preceding the date hereof (the foregoing  materials being
collectively  referred to herein as the "SEC  Reports"  and,  together with this
Agreement and the Schedules  hereto,  the  "Disclosure  Materials")  on a timely
basis.  The Company has  delivered  to the  Purchasers a copy of all SEC Reports
filed within the ten (10) days preceding the date hereof. As of their respective
dates, the SEC Reports  complied in all material  respects with the requirements
of the Securities Act and the Exchange Act and the rules and  regulations of the
Commission  promulgated  thereunder,  and none of the SEC  Reports,  when filed,
contained any untrue statement of a material fact or omitted to state a material
fact required to be stated  therein or necessary in order to make the statements
therein,  in  light  of the  circumstances  under  which  they  were  made,  not
misleading.  The financial statements of the Company included in the SEC Reports
comply in all material respects with applicable accounting  requirements and the
rules and regulations of the Commission with respect thereto as in effect at the
time

                                       10
<PAGE>

of filing. Such financial  statements have been prepared in accordance with GAAP
and fairly  present in all  material  respects  the  financial  position  of the
Company and its  consolidated  Subsidiaries  as of and for the dates thereof and
the results of operations and cash flows for the periods then ended, subject, in
the  case  of  unaudited  statements,  to  normal,  immaterial,  year-end  audit
adjustments. All material agreements to which the Company or any Subsidiary is a
party or to which the  property or assets of the Company or any  Subsidiary  are
subject are included as part of or  specifically  identified in the SEC Reports.
Each press  release  disseminated  by the Company  during the twelve (12) months
prior to the  Closing  Date did not at the time of  release  contain  any untrue
statement  of a material  fact or omit to state a material  fact  required to be
stated therein or necessary in order to make the statements therein, in light of
the  circumstances  under  which they were made,  not  misleading.  Neither  the
Company nor any Subsidiary has any liabilities or obligations,  whether accrued,
absolute,  contingent,  asserted, unasserted or otherwise, except liabilities or
obligations  (i) stated or adequately  reserved  against in the  Company's  most
recent balance sheet included within the SEC Reports (the "Base Balance Sheet"),
(ii) incurred as a result of or arising out of the Transactions,  (iii) incurred
in the ordinary course of business consistent with prior operating history since
the date of the Base Balance Sheet or (iv) as set forth in Schedule 3.1(h).  The
Company does not have pending before the Commission any request for confidential
treatment  of  information.   The  Company  is  in  compliance  with  applicable
requirements  of the  Sarbanes-Oxley  Act  of  2002  and  applicable  rules  and
regulations promulgated by the Commission thereunder in effect as of the date of
this  Agreement,  except  where  such  noncompliance  would not have a  Material
Adverse Effect.

               (i) Taxes. Except as set forth in Schedule 3.1(i)(1), the Company
and the  Subsidiaries  have prepared and timely filed all income tax returns and
other material tax returns that are required to be filed, and have paid, or made
provision in accordance with GAAP for the payment of, all taxes that have or may
have become due  pursuant to said  returns or pursuant to any  assessments  that
have been received by the Company or the Subsidiaries.  All tax returns are true
and correct in all material  respects.  All taxes shown to be due and payable by
the Company or the Subsidiaries have been paid or will be paid prior to the time
they become  delinquent.  The Company has  withheld  and  collected  all amounts
required by applicable Law to be withheld or collected and has remitted all such
amounts to the  appropriate  Governmental  Authority  within the time prescribed
under  applicable Law. To the Company's  knowledge there is no liability for any
tax to be imposed upon its or any of its  Subsidiaries'  properties or assets as
of the date of this  Agreement for which  adequate  provision has not been made.
Except as set forth in  Schedule  3.1(i)(2),  there is no open audit of material
tax returns of the Company by the applicable  Governmental  Authority with which
they were filed,  and to the Company's  knowledge,  no deficiency  assessment or
proposed  adjustment  of the  Company's or the  Subsidiaries  material  taxes is
pending.

               (j) Material  Changes.  Since the date of the Base Balance Sheet,
except as specifically  disclosed in the SEC Reports or as described in Schedule
3.1(j),  there has been no Material Adverse Effect,  and neither the Company nor
any  of its  Subsidiaries  has  (i)  incurred  any  liabilities  (contingent  or
otherwise)  other than (A) trade payables and accrued  expenses  incurred in the
ordinary  course of business  consistent  with past practice and (B) liabilities
not required to be reflected in the Company's  financial  statements pursuant to
GAAP or required  to be  disclosed  in filings  made with the  Commission,  (ii)
altered its method of accounting or the identity of its auditors, (iii) declared
or  made  any  dividend  or  distribution  of  cash  or  other  property  to its
stockholders or purchased, redeemed or made any agreements to purchase or redeem
any shares of its  capital  stock or (iv)  issued any equity  securities  to any
officer,  director  or  Affiliate,  except  pursuant to  existing  Equity  Plans
described in Schedule 3.1(g)(3).

               (k)  Litigation.  There  is no  Proceeding  pending  or,  to  the
knowledge  of the Company,  threatened  against or  affecting  the Company,  any
Subsidiary or any of their respective  properties which (i) adversely affects or
challenges the legality,  validity or  enforceability  of any of the Transaction
Documents,  the  Transactions  or the  Securities or (ii) except as disclosed in
Schedule 3.1(k), would, if there were an unfavorable  decision,  individually or
in the aggregate, have or result in a Material

                                       11
<PAGE>

Adverse Effect.  Neither the Company nor any  Subsidiary,  nor, to the Company's
knowledge,  any director or officer thereof (in his or her capacity as such), is
or has been the subject of any  Proceeding  involving a claim of violation of or
liability  under  federal  or  state  securities  laws or a claim of  breach  of
fiduciary duty.  There has not been, and to the knowledge of the Company,  there
is not pending or contemplated,  any investigation of any type by the Commission
or any other  Governmental  Authority  involving  the  Company or any current or
former  director or officer of the Company (in his or her capacity as such).  No
registration statement filed by the Company or any Subsidiary under the Exchange
Act or the  Securities  Act is currently  the subject of any stop order or other
order of the Commission  suspending the  effectiveness of any such  registration
statement.

               (l) Labor Relations.  The Company and the Subsidiaries (i) are in
material  compliance  with  all  terms  and  conditions  of  employment  and all
Employment Laws  including,  pay equity,  wages and hours of work,  occupational
health and safety, and (ii) except where such practices or complaints could not,
individually or in the aggregate,  have a Material Adverse Effect,  have not and
are not  engaged in any  unfair  labor  practice  and no unfair  labor  practice
complaint,  grievance or arbitration  proceeding is pending or, to the knowledge
of the Company, threatened against the Company or any Subsidiary.  Except as set
forth in Schedule  3.1(l),  no collective  bargaining  agreement is currently in
force or is currently  being  negotiated by the Company,  any  Subsidiary or any
other Person in respect of the business of the Company or any  Subsidiary or any
of the Employees.  No trade union, council of trade unions,  employee bargaining
agency or affiliated  bargaining agent holds  bargaining  rights with respect to
any of the Employees by way of certification,  interim certification,  voluntary
recognition,  or succession  rights,  or has applied or, to the knowledge of the
Company,  threatened  to apply to be  certified as the  bargaining  agent of the
Employees.  To the knowledge of the Company,  there are no threatened or pending
union organizing  activities  involving any of the Employees.  There is no labor
strike,  dispute,  work  slowdown or stoppage  pending or  involving  or, to the
knowledge of the Company threatened against the Company or any Subsidiary. There
are  no  charges  pending  under  applicable   Occupational  Health  and  Safety
legislation in respect of the Company or any Subsidiary, and the Company and the
Subsidiaries have complied in all material respects with any orders issued under
such  legislation and there are no appeals of any orders under such  legislation
currently outstanding.

               (m) Employee Benefit Plans.

                    (i) Except as set forth in Schedule 3.1(m)(i),  there are no
employee benefit or compensation plans, agreements,  arrangements or commitments
(including  "employee benefit plans," as defined in Section 3(3) of the Employee
Retirement  Income Security Act of 1974, as amended (together with the rules and
regulations thereunder,  "ERISA")) or any other plans, policies,  trust funds or
arrangements (whether written or unwritten, insured or self-insured, domestic or
foreign) established,  maintained,  sponsored or contributed to (or with respect
to any obligation  that has been  undertaken) by the Company,  any Subsidiary or
any entity that would be treated as a single  employer  with the  Company  under
Section 414(b),  (c), (m) or (o) of the Code or Section 4001 of ERISA (an "ERISA
Affiliate") for any Employee,  officer,  director,  consultant or stockholder of
the Company or any  Subsidiary or their  beneficiaries  or with respect to which
the Company or any Subsidiary has liability (each an "Employee Plan").

                    (ii)  Except  as set  forth in  Schedule  3.1(m)(ii)(A)  and
except for medical reimbursement  spending accounts under Code Section 125, each
Employee  Plan that is an  "employee  welfare  benefit  plan" as  defined  under
Section 3(l) of ERISA is funded  through an  insurance  company  contract.  Each
Employee Plan complies in form and has been administered,  maintained and funded
in material  compliance with its terms and all applicable Laws, and all required
filings,  if any,  with  respect to such  Employee  Plan have been timely  made.
Except  as set  forth  in  Schedule  3.1(m)(ii)(B),  neither  the  Company,  any
Subsidiary nor any ERISA Affiliate has at any time maintained, contributed to or
been

12
<PAGE>

required  to  contribute  to or has (or  has had  directly  or  indirectly)  any
liability with respect to, any plan subject to Section 412 of the Code,  Section
302  of  ERISA  or  Title  IV  of  ERISA,  including,  without  limitation,  any
"multiemployer  plan"  (within the meaning of Sections  3(37) or  4001(a)(3)  of
ERISA or Section 414(f) of the Code) or any single employer pension plan (within
the meaning of Section  4001(a)(15) of ERISA) which is subject to Sections 4063,
4064  and  4069  of  ERISA.  The  Company's   various   non-qualified   deferred
compensation plans for U.S.  employees and officers deferred  compensation plans
satisfy  the  requirements  of Section  201(2) of ERISA.  Except as set forth in
Schedules  3.1(m)(ii)(C)  and  3.1(m)(ii)(D),  the events  contemplated  by this
Agreement  (either  alone or together with any other event) will not (A) entitle
any Employee,  director or stockholder of the Company or any Subsidiary (whether
current,   former  or  retired)  or  their   beneficiaries   to  severance  pay,
unemployment compensation,  or other similar payments under any Employee Plan or
Employment  Law, (B)  accelerate  the time of payment or vesting or increase the
amount of benefits due under any Employee Plan or  compensation to any Employees
or (C) result in any payments (including any payment that could be characterized
as an "excess parachute payment" (as defined in Section 280G(b)(1) of the Code))
under  any  Employee  Plan or  Employment  Laws  becoming  due to any  Employee,
director or  stockholder  of the  Company or any  Subsidiary  (whether  current,
former or  retired)  or their  beneficiaries.  Except  as set forth in  Schedule
3.1(m)(ii)(E),  no amount  payable  under any  Employee  Plan  would  fail to be
deductible under Code Section 162(m).

                    (iii)  Except as set  forth in  Schedule  3.1(m)(iii),  with
respect to each of the Employee  Plans:  (A) each Employee Plan that is intended
to be qualified  under Section  401(a) of the Code has received a  determination
letter  from the  Internal  Revenue  Service  upon  which the  Company  may rely
regarding  its  qualified  status  under the Code  covering  all  statutory  and
regulatory  changes  with regard to Plan  qualified  requirements  for which the
Internal  Revenue  Service will issue such a letter,  and nothing has  occurred,
whether by action or by failure to act,  that  caused or could cause the loss of
such  qualification  or the imposition of any penalty or tax liability;  (B) all
payments required by the Employee Plans, any collective  bargaining agreement or
other  agreement,  or by applicable  Law  (including,  without  limitation,  all
contributions,  insurance premiums or intercompany  charges) with respect to all
periods  through the Closing Date shall have been made prior to the Closing Date
(on a pro rata basis where such  payments are  otherwise  discretionary  at year
end) or  provided  for by the  Company,  or accrued on the  Company's  financial
statements,  as  applicable,  in accordance  with the  provisions of each of the
Employee  Plans,  applicable Law and GAAP; (C) no action has been  instituted or
commenced  or,  to the  knowledge  of the  Company,  has been  threatened  or is
anticipated  against any of the Employee Plans (other than non-material  routine
claims for  benefits  and appeals of such  claims),  any trustee or  fiduciaries
thereof,  the Company,  any  Subsidiary  or any ERISA  Affiliate,  any director,
officer  or  employee  thereof,  or any of the assets of any trust of any of the
Employee  Plans;  (D) no  Employee  Plan is or is  expected to be under audit or
investigation by the Internal Revenue Service,  Department of Labor or any other
Governmental  Authority and no such completed audit, if any, has resulted in the
imposition   of  any  tax  or  penalty;   and  (E)  no  Employee  Plan  provides
post-retirement welfare benefits (other than as acquired pursuant to Section 601
of ERISA).

                    (iv) With respect to the  single-employer,  defined  benefit
pension plan set forth on Schedule 3.1(m)(ii): (A) there does not now exist, nor
do any  circumstances  exist that could  reasonably be expected to result in any
accumulated funding deficiency (as defined under applicable Law) or any material
liability  under  Section  4971 of the Code;  (B) the fair  market  value of the
assets of any such plan equals or exceeds  the  actuarial  present  value of all
accrued  benefits  under such plan  (whether or not vested,  each as  determined
under the assumptions and valuation method of the latest actuarial  valuation of
such plan) and,  except as set forth on Schedule  3.1(m)(iv),  no  amendments or
other  modifications  to such plan or  actuarial  assumptions  have been adopted
since the last  valuation;  (C) no  "reportable  event"  within  the  meaning of
Section  4043(c) of ERISA for which the 30-day notice  requirement  has not been
waived has occurred, or is reasonably expected to occur, and the consummation

                                       13
<PAGE>

of the  transactions  contemplated  by this  Agreement  will not  result  in the
occurrence of any such  reportable  event;  (D) no material  liability,  whether
direct or contingent, under Title IV of ERISA has been or is reasonably expected
to be incurred by the Company,  any of its  Subsidiaries or any ERISA Affiliate;
and (E) the Company took all actions  necessary and appropriate to cease benefit
accruals  under  any such  plan in  accordance  with the  Code,  ERISA and other
applicable Laws (including timely delivery of all required notices).

                    (v) Except as set forth on Schedule 3.1(m)(v),  with respect
to each Employee Plan that is not subject to United States Law (each, a "Foreign
Benefit  Plan"):  (A) the fair market value of the assets of each funded Foreign
Benefit Plan, the liability of each insurer for any Foreign  Benefit Plan funded
through insurance or the book reserve  established for any Foreign Benefit Plan,
together with any accrued contributions, is sufficient to procure or provide for
the accrued  benefit  obligations,  as of the Closing Date,  with respect to all
current  and  former  participants  in  such  plan  according  to the  actuarial
assumptions   and   valuations   most  recently   used  to  determine   employer
contributions  to such Foreign  Benefit Plan and no transaction  contemplated by
this Agreement shall cause such assets or insurance  obligations to be less than
such  benefit  obligations;  and (B) each Foreign  Benefit  Plan  required to be
registered  has been  registered  and has been  maintained in good standing with
applicable  regulatory  authorities,  and if intended to qualify for special tax
treatment, meets all requirements for such treatment.

                    (vi) Each stock option  granted under any Equity Plan has an
exercise  price at least equal to the fair market  value of the Common  Stock of
the  Company  on a date  no  earlier  than  the  date  of the  corporate  action
authorizing  the grant and no stock option granted under any Equity Plan has had
its exercise date or grant date delayed or "back-dated."

               (n) Compliance.  Except as set forth on Schedule 3.1(n),  neither
the Company nor any  Subsidiary  (i) is in default under or in violation of (and
no event has  occurred  that has not been waived  that,  with notice or lapse of
time or both, would result in a default by the Company or any Subsidiary under),
nor has the Company or any Subsidiary received written notice of a claim that it
is in default under or that it is in violation of, any indenture, loan or credit
agreement  or any other  agreement  or  instrument  to which it is a party or by
which it or any of its  properties  is bound  (whether  or not such  default  or
violation has been waived) except as would not have a Material  Adverse  Effect,
(ii) is in material  violation of any order of any  Governmental  Authority,  or
(iii) is or has been in material  violation of any Law. Since December 31, 2001,
neither the  Company,  any  Subsidiary  nor,  to the  Company's  knowledge,  any
Employee has violated the U.S. Foreign Corrupt Practices Act, as amended. To the
Company's Knowledge, no director,  officer,  Employee or agent of the Company or
of a Subsidiary,  acting  directly or indirectly for the benefit of the Company,
has,  directly or  indirectly,  made or agreed to make,  any unlawful or illegal
payment,  gift or  political  contribution  to, or taken any other  unlawful  or
illegal action, for the benefit of any customer, supplier, governmental employee
or other  Person who is or may be in a position to assist or hinder the business
of the Company or a Subsidiary.

               (o) Regulatory Permits.  The Company and the Subsidiaries possess
and are in compliance in all material  respects with the terms and conditions of
all Permits (including all certificates,  authorizations,  approvals and permits
required under  applicable  Laws) and neither the Company nor any Subsidiary has
received any notice of Proceedings relating to the revocation or modification of
any Permit.  The Company and its  Subsidiaries are in compliance in all material
respects with all Laws with respect to manufacturing,  research and development,
marketing  and sale of all of their  products.  There are no pending  or, to the
knowledge of the Company,  threatened  Proceedings by any Governmental Authority
which would prohibit or impede the sale of any product currently manufactured or
sold by the Company or any of its Subsidiaries into any market.

                                       14
<PAGE>

               (p)  Patents  and  Trademarks.  Except as set  forth in  Schedule
3.1(p)(1),  the  Company  and the  Subsidiaries  own,  or  possesses a valid and
enforceable written license to use the Company Intellectual Property Rights that
are  material  to the  business  of the  Company  or  the  Subsidiaries.  To the
Company's  knowledge,  (i) the  operation of the business of the Company and the
Subsidiaries,  and the products or services in development or which are marketed
or sold (or  proposed to be marketed or sold) by the Company or any  Subsidiary,
do not violate any license or infringe any  Intellectual  Property rights of any
party and (ii) there is no unauthorized use, infringement or misappropriation of
any Company Intellectual Property Rights by any third party. Except as set forth
in Schedule  3.1(p)(2),  (i) other than with respect to  commercially  available
software  products which the Company or the Subsidiaries  license under standard
end-user  object code  license  agreements,  there are no  outstanding  material
options,  licenses,   agreements,   claims,  encumbrances  or  shared  ownership
interests  of any kind  relating  to any of the  Company  Intellectual  Property
Rights insofar as they relate to the Company's use of such Company  Intellectual
Property  Rights,  (ii) neither the Company nor any of the  Subsidiaries  (A) is
obligated  to make to any  third  party  any  payments  related  to the  Company
Intellectual Property Rights or (B) has agreed to indemnify any third party with
respect to any Intellectual  Property,  other than standard terms and conditions
with the  Company's  or any of the  Subsidiaries'  customers.  To the  Company's
knowledge,  no third party has made a claim that the  Company or any  Subsidiary
has violated or, by conducting  their business,  would violate any  Intellectual
Property  rights  of any  other  person  or  entity  and no such  claim has been
threatened.  Except as set forth in Schedule  3.1(p)(3),  each Employee,  former
employee,   contract  worker,  agent,  consultant  other  service  provider  and
contractor  who  has  contributed  to  or  participated  in  the  conception  or
development of the Company Intellectual  Property Rights owned by the Company or
its   Subsidiaries   has  assigned  to  the  Company  or  the  Subsidiaries  all
Intellectual  Property  rights he or she owns that are related to the respective
businesses  of the  Company  and the  Subsidiaries  as now  conducted  or as now
proposed to be conducted. All registrations or applications for registrations of
the Company Intellectual Property Rights which are registered or have been filed
for  registration  by the  Company  or its  Subsidiaries  with any  Governmental
Authority or Internet  registrant  are in good  standing and all of the fees and
filings due with respect  thereto have been duly made. No Proceedings or, to the
Company's  knowledge,  investigations  challenging or threatening  the validity,
enforceability,  effectiveness  or  ownership  by  the  Company  or  any  of its
Subsidiaries of any Company  Intellectual  Property Rights have been made or are
outstanding. No open source or public library software, including any version of
any software licensed  pursuant to any public license,  is, in whole or in part,
embodied or  incorporated in the Company  Intellectual  Property Rights owned by
the Company or its  Subsidiaries  or, to the  Company's  knowledge,  embodied or
incorporated  in the  Company  Intellectual  Property  Rights  not  owned by the
Company or its Subsidiaries, and neither the Company nor any of its Subsidiaries
are  otherwise  bound by any terms  thereof.  Except  as set  forth in  Schedule
3.1(p)(4), neither the Company nor any of its Subsidiaries is or, as a result of
the execution or delivery of the  Transaction  Documents,  or the performance of
the  Company's  obligations  thereunder,  will be in  violation  of any license,
sublicense, agreement or instrument involving Intellectual Property to which the
Company or any of its  Subsidiaries is a party or otherwise  bound, nor will the
execution or delivery of the  Transaction  Documents or the  consummation of the
Transactions, cause the diminution, license, transfer, termination or forfeiture
of the Company's or any of its Subsidiaries'  rights in any Company Intellectual
Property Rights. Each of the Company and the Subsidiaries has taken commercially
reasonable   measures  to  protect  the   proprietary   nature  of  the  Company
Intellectual Property Rights and to maintain in confidence all trade secrets and
confidential   information   owned  or  used  by  the  Company  or  any  of  its
Subsidiaries.  The source code and system documentation relating to any software
programs  included in or developed  for inclusion in the Company's or any of its
Subsidiaries' products (including all software programs embedded or incorporated
in the  Company's or any of its  Subsidiaries'  products)  (w) have at all times
been  maintained in  confidence,  (x) have been disclosed by the Company and its
Subsidiaries  only to  Employees or third  parties who are bound by  appropriate
nondisclosure obligations,  (y) have not been licensed, sold or disclosed to any
third party,  and (z) are not the subject of any escrow or similar  agreement or
arrangement

                                       15
<PAGE>

giving any third party rights in or to such source code or system  documentation
upon the occurrence of certain events.

               (q)  Insurance.  Schedule  3.1(q)(1)  sets  forth  a list  of the
material  insurance policies held by, or for the benefit of, the Company and its
Subsidiaries as of the date of this Agreement, including the underwriter of such
policies  and the amount of  coverage  thereunder.  Neither  the Company nor any
Subsidiary  has any  reason  to  believe  that it will not be able to renew  its
existing  insurance  coverage  as and when such  coverage  expires  or to obtain
similar  coverage  from  similar  insurers as may be  necessary  to continue its
business  on  terms  consistent  with  the  market  for the  Company's  and such
Subsidiaries'  respective  lines of  business.  Except as set forth in  Schedule
3.1(q)(2), there are currently no Proceedings pending against the Company or any
Subsidiary  under any  insurance  policies  currently in effect and covering the
property,  business  or  employees  of the  Company  and the  Subsidiaries,  all
premiums due and payable with respect to the  insurance  policies  maintained by
the  Company  and the  Subsidiaries  have  been  paid to date,  and there are no
retrospective premiums on any such policies.

               (r)  Transactions  With  Affiliates and Employees.  Except as set
forth in Schedule 3.1(r),  none of the officers or directors or other Affiliates
of the  Company  or any  Subsidiary,  including  any  Person  who was any of the
foregoing  within the past two (2) years,  and, to the knowledge of the Company,
none of the Employees,  is presently a party to any transaction with the Company
or  any  Subsidiary  (other  than  for  services  as  Employees,   officers  and
directors), including any contract, agreement or other arrangement providing for
the  furnishing  of services to or by,  providing for rental of real or personal
property to or from,  or  otherwise  requiring  payments to or from any officer,
director,  Affiliate or such Employee or, to the  knowledge of the Company,  any
entity in which any  officer,  director,  Affiliate  or any such  Employee has a
substantial interest or is an officer, director, trustee or partner.

               (s)  Certain  Fees.  Except as provided in Section 6.3 and as set
forth in Schedule  3.1(s),  no brokerage or finder's fees or commissions  are or
will be payable by the Company based on arrangements  made by the Company or any
of its  Affiliates  or any  Person  on  behalf  of any of  them  to any  broker,
financial advisor or consultant,  finder,  placement agent,  investment  banker,
bank or other Person with respect to the  Transactions.  Neither Purchaser shall
have any obligation based on any arrangements  made by the Company or any of its
Affiliates  or any Person on behalf of any of them for fees or claimed fees of a
type  contemplated in this Section 3.1(s) that may be due in connection with the
Transactions.  The Company shall indemnify and hold harmless each Purchaser, its
respective  employees,  officers,  directors,  agents,  and partners,  and their
respective  Affiliates,  from and  against all claims,  Losses,  damages,  costs
(including the costs of preparation and attorney's  fees) and expenses  suffered
in respect of any claimed or existing fees that are based on  arrangements  made
by the Company or any of its  Affiliates or any Person on behalf of any of them,
as such fees and expenses are incurred.

               (t) Private Placement.  Neither the Company nor any Person acting
on the  Company's  behalf has sold or offered to sell or solicited  any offer to
buy the Securities by means of any form of general  solicitation or advertising.
Neither  the  Company  nor any of its  Affiliates  nor any Person  acting on the
Company's  behalf has,  directly or indirectly,  at any time within the past six
(6) months,  made any offer or sale of any security or solicitation of any offer
to  buy  any  security  under   circumstances   that  would  (i)  eliminate  the
availability  of the exemption from  registration  under  Regulation D under the
Securities  Act in  connection  with the  offer  and sale of the  Securities  as
contemplated  hereby,  or (ii) cause the offering of the Securities  pursuant to
the  Transaction  Documents to be integrated with prior offerings by the Company
for  purposes  of  any  applicable  Law  or  stockholder   approval  provisions,
including,  without  limitation,  under the rules and regulations of the Trading
Market.

               (u) Omitted.

                                       16
<PAGE>

               (v) Registration Rights.  Except as described in Schedule 3.1(v),
the  Company  has not  granted  or  agreed  to grant to any  Person  any  rights
(including  "piggy  back"  registration  rights) to have any  securities  of the
Company registered with the Commission or any other governmental  authority that
have not been satisfied.

               (w)  Application of Takeover  Protections.  The Company and Board
have taken all necessary  action,  if any, in order to render  inapplicable  any
control share  acquisition,  business  combination,  poison pill  (including any
distribution under a rights agreement) or other similar anti-takeover  provision
under the Company's  Restated  Certificate of Incorporation  (or similar charter
documents)  or the laws of its state of  incorporation  that is or could  become
applicable  to any  Purchaser  as a result  of the  Purchasers  and the  Company
fulfilling  their  obligations or exercising  their rights under the Transaction
Documents,   including,  without  limitation,  the  Company's  issuance  of  the
Securities and the Purchasers' ownership of the Securities.

               (x) Investment  Company;  FIRPTA.  The Company is not required to
register as an "investment company" within the meaning of the Investment Company
Act of 1940,  as  amended.  The  Company  is not a U.S.  real  property  holding
corporation  within the meaning of the Foreign  Investment  in Real Property Tax
Act of 1980.

               (y) Material  Contracts.  Each Material Contract is in full force
and effect and is a legal,  valid and binding  obligation of the Company  and/or
any Subsidiary, as applicable. Neither the Company nor any Subsidiary is and, to
the  knowledge  of the  Company,  no other  party is, in  default  (and,  to the
knowledge of the Company, no condition exists that, with notice or lapse of time
or both,  would  constitute a default by the Company or any  Subsidiary)  in the
performance,  observance or fulfillment of any obligation, covenant or condition
contained in any such  Material  Contract,  which  default  would give the other
party the right to  terminate or modify in any  material  respect such  Material
Contract or would  accelerate any payment or material  obligation by the Company
or any Subsidiary,  nor, to knowledge of the Company,  is any other party to any
Material Contract in default thereunder (or, does any condition exist that, with
notice or lapse of time or both,  would constitute a default by any such party),
except such  defaults  which,  individually  or in the  aggregate,  could not be
expected to result in a Material Adverse Effect. The validity, effectiveness and
continuation of each of the Material Contracts will not be adversely affected by
the  Transactions.  To the  knowledge  of the  Company,  no  party to any of the
Material Contracts has exercised, or plans to exercise, any option granted to it
to cancel,  terminate or shorten the term of its Material Contract.  The Company
has  provided  to each  Purchaser  a true  and  correct  copy  of each  Material
Contract.

               (z) Suppliers and Customers.  Schedule  3.1(z) sets forth the ten
(10) largest  suppliers  and ten (10)  largest  customers of the Company and the
Subsidiaries as of January 1, 2007,  based on the dollar amount of sales for the
period from  January 1, 2006  through  such date,  each of which shall  remain a
supplier or customer of the firm,  as  applicable,  as of the date hereof and at
the Closing.

               (aa)   Product   Warranty;   Product   Liability.   Each  product
manufactured, sold or delivered since December 31, 2001 by the Company or any of
the  Subsidiaries  and, to the  knowledge  of the  Company,  each other  product
manufactured,  sold or delivered by the Company or any of its Subsidiaries,  has
been so manufactured,  sold or delivered in conformity in all material  respects
with all product  specifications and all express  warranties,  except where such
nonconformity has not resulted in, or would not reasonably be expected to result
in, a material  liability which has not been  discharged or reserved  against on
the Base  Balance  Sheet.  Each product  manufactured,  sold or delivered by the
Company or any of the Subsidiaries  has been so manufactured,  sold or delivered
in conformity in all material respects with all implied warranties, except where
such  nonconformity has not had resulted in, or would not reasonably be expected
to result in, a material liability which has not been discharged or

                                       17
<PAGE>

reserved  against on the Base Balance Sheet.  Neither the Company nor any of the
Subsidiaries has any liability for replacement or repair of any such products or
other  damages  in  connection  therewith  or  any  other  customer  or  product
obligations not reserved against on the Base Balance Sheet.

               (bb)  Environmental  Matters.  Each  of the  representations  and
warranties  in this  Section  3.1(bb) is qualified in its entirety by any matter
specifically and to the extent disclosed in any report relating to environmental
matters that has been prepared by any third party  consultant  engaged by any of
the Purchasers.

                    (i) Except as set forth in Schedule  3.1(bb)(i),  all of the
current  and past  operations  of the  Company,  the  Subsidiaries  and any Real
Property comply in all material  respects and have at all times that the Company
or any of its  Subsidiaries  owned,  operated  used or leased such Real Property
complied in all material  respects with all applicable  Environmental  Laws. All
real  property  formerly  owned,  operated,  used or leased by the Company,  any
Subsidiary or any predecessor in interest (the "Former Real Property")  complied
at all times during the term of the  Company's or such  Subsidiary's  ownership,
operation, use or lease thereof with all applicable Environmental Laws.

                    (ii)  Except as set forth in Schedule  3.1(bb)(ii),  (A) The
Company has no knowledge  of any claim,  and neither it nor any  Subsidiary  has
received  notice of a  complaint,  loss  order,  directive,  claim,  request for
information,  violation or citation, and no proceeding has been instituted,  nor
to the Company's knowledge,  threatened,  raising a claim against the Company or
any  Subsidiary  or any  predecessor  thereto  or any of their  respective  Real
Property, Former Real Property or other assets indicating or alleging any damage
to the  environment  or any  liability or  obligation  under or violation of any
Environmental  Law, (B) neither the Company nor any Subsidiary is subject to any
order,  decree,  injunction  or other  directive of any  Governmental  Authority
relating to Environmental Laws and (C) to the Company's knowledge,  there are no
actions,  activities,  circumstances,  conditions,  events or incidents that are
reasonably  likely to form the basis of any such  liability or obligation  under
Environmental Law.

                    (iii)  Except  as set  forth in  Schedules  3.1(bb)(ii)  and
(iii), (A) neither the Company nor any Subsidiary has used and, to the Company's
knowledge,  no other Person has used any portion of any Real  Property or Former
Real Property  during the term of the Company's or any  Subsidiary's  ownership,
operation,  use or  lease  thereof  for the  generation,  handling,  processing,
treatment,  storage or disposal of any Hazardous  Materials except in accordance
in all material  respects with  applicable  Environmental  Laws; (B) neither the
Company nor any  Subsidiary  owns or operates any  underground  storage tank and
there are no underground storage tanks, other underground  storage  receptacles,
asbestos-containing  materials  or  other  Hazardous  Materials  located  in any
portion of any Real Property and (C) neither the Company nor any Subsidiary nor,
to the Company's  knowledge,  any other Person,  has caused or suffered to occur
any releases or  threatened  releases of Hazardous  Materials on, at, in, under,
above,  to, from or about any Real Property or Former Real  Property  during the
term of the Company's or any  Subsidiary's  ownership,  operation,  use or lease
thereof,  except  where  such  release  has not had  resulted  in,  or would not
reasonably  be  expected to result in, a material  liability  which has not been
discharged or reserved against on the Base Balance Sheet.

                    (iv) Except as set forth in Schedules 3.1(bb)(iii) and (iv),
the Company has not  contractually,  by operation of law or otherwise assumed or
succeeded to any  liabilities of any  predecessors or any other person or entity
under Environmental Law.

                    (v) The Company has provided to the  Purchasers all material
environmental    reports,    assessments,    audits,    studies,    inspections,
investigations,  data  and  other  written  environmental  information  in their
custody,  possession  or control  concerning  the  Company  or any  Subsidiary's
operations, the Real Property or the Former Real Property.

                                       18
<PAGE>

                    (vi)  Except  as set  forth  in  Schedule  3.1(bb)(vi),  the
execution,  delivery and performance of this Agreement and the other Transaction
Documents  and  the  consummation  of the  Transactions  will  not  require  any
notification,   registration,  filing,  reporting,  disclosure,   investigation,
remediation or cleanup obligations  pursuant to any requirements of Governmental
Authority or any other Environmental Law.

                    (vii) None of the matters  set forth in Schedule  3.1(bb)(i)
through Schedule  3.1(bb)(vi),  individually or in the aggregate,  is reasonably
likely to have a Material Adverse Effect.

               (cc) Export Controls.  None of the Company, any Subsidiary or, to
the  Company's  knowledge,  the Employees  have  violated any law  pertaining to
export controls,  technology transfer or industrial security including,  without
limitation,  the  Export  Administration  Act,  as  amended,  the  International
Emergency  Economic  Powers  Act, as amended,  the Arms Export  Control  Act, as
amended,  the National Industrial Security Program Operating Manual, as amended,
or any regulation,  order, license or other legal requirement issued pursuant to
the  foregoing  (including,   without  limitation,   the  Export  Administration
Regulations  and the  International  Traffic in Arms  Regulations).  Neither the
Company,  any Subsidiary  nor, to the Company's  knowledge,  any Employee is the
subject of a Proceeding by a Governmental Authority that restricts such person's
ability to engage in export transactions.

               (dd)  Disclosure.   The  Company  has  provided  all  information
requested by any Purchaser or their respective representatives to each Purchaser
and has not  knowingly  omitted to provide  any  materials  relating to any such
request.

          3.2 Disclaimer of Other Representations and Warranties.

               THE  COMPANY  HAS NOT MADE  ANY  REPRESENTATIONS  OR  WARRANTIES,
EXPRESS OR IMPLIED,  OF ANY NATURE WHATSOEVER  RELATING TO THE COMPANY OR ANY OF
ITS  SUBSIDIARIES  OR THE BUSINESS OF THE COMPANY OR ANY OF ITS  SUBSIDIARIES OR
OTHERWISE IN CONNECTION WITH THE TRANSACTIONS  CONTEMPLATED  HEREBY,  OTHER THAN
THOSE  REPRESENTATIONS AND WARRANTIES  EXPRESSLY SET FORTH IN THIS AGREEMENT AND
THE OTHER TRANSACTION DOCUMENTS.

          3.3 Representations  and Warranties of the Purchasers.  Each Purchaser
hereby, as to itself only and for no other Purchaser, represents and warrants to
the Company as of the date hereof and the Closing Date as follows:

               (a)  Organization;  Authority.  Such  Purchaser is an entity duly
organized,  validly  existing  and  in  good  standing  under  the  laws  of the
jurisdiction of its organization with the requisite power and authority to enter
into  and to  consummate  the  Transactions  and  otherwise  to  carry  out  its
obligations  thereunder.  The  execution,   delivery  and  performance  by  such
Purchaser  of the  Transaction  Documents  to which it is a party have been duly
authorized by all necessary  action on the part of such Purchaser and no further
consent  or  action  is  required  by such  Purchaser  in  connection  with such
execution  and  delivery.  Each  of the  Transaction  Documents  to  which  such
Purchaser  is a party  has  been  duly  executed  by such  Purchaser  and,  when
delivered by such Purchaser in accordance  with terms hereof will constitute the
valid and legally binding obligation of such Purchaser,  enforceable  against it
in accordance with its terms.

               (b) No Conflicts. The execution,  delivery and performance of the
Transaction Documents by such Purchaser and the consummation of the Transactions
do not and will not conflict with

                                       19
<PAGE>

or  violate  any  provision  of such  Purchaser's  certificate  or  articles  of
incorporation, bylaws or other organizational or charter documents.

               (c)  Filings,  Consents  and  Approvals.  Such  Purchaser  is not
required  to obtain any  consent,  waiver,  authorization  or order of, give any
notice to, or make any filing or registration  with, any Governmental  Authority
or other Person in connection  with the execution or delivery by such  Purchaser
of the Transaction  Documents to which it is a party or the  consummation of the
Transactions,  other than such filings as may be required  under the HSR Act and
the expiration of the waiting period under the HSR Act.

               (d) Investment Intent. Such Purchaser is acquiring the Securities
as principal for its own account for investment  purposes and not with a view to
distributing  or reselling  such  Securities or any part thereof in violation of
applicable  securities laws,  without  prejudice,  however,  to such Purchaser's
right  at all  times  to sell or  otherwise  dispose  of all or any part of such
Securities in compliance  with  applicable  federal and state  securities  laws.
Nothing  contained herein shall be deemed a  representation  or warranty by such
Purchaser  to hold  the  Securities  for any  period  of  time.  Such  Purchaser
understands  that the Securities have not been  registered  under the Securities
Act, and therefore the  Securities  may not be sold,  assigned or transferred in
the U.S. other than pursuant to (i) an effective  registration  statement  under
the Securities  Act, or (ii) an exemption from such  registration  requirements.
Such  Purchaser  acknowledges  that  it is  able to  bear  the  financial  risks
associated  with an  investment  in the  Shares  and that it has  received  such
information  as it has  deemed  necessary  or  appropriate  to  conduct  its due
diligence investigation and has sufficient knowledge and experience in investing
in  companies  similar to the Company so as to be able to evaluate the risks and
merits of its investment in the Company.

               (e)  Certain  Fees.  Except as  provided in Section 6.3 or as set
forth in Schedule  3.3(e),  no brokerage or finder's fees or commissions  are or
will be  payable  by  such  Purchaser  based  on any  arrangements  made by such
Purchaser or any of its Affiliates or any Person on behalf of any of them to any
broker,  financial advisor or consultant,  finder,  placement agent,  investment
banker, bank or other Person with respect to the Transactions. The Company shall
not have any obligation based on any arrangements  made by such Purchaser or any
of its  Affiliates  or any  Person on behalf of any of them for fees or  claimed
fees of a type contemplated in this Section 3.3(e) that may be due in connection
with the  Transactions.  Such  Purchaser  shall  indemnify and hold harmless the
Company, its employees,  officers,  directors,  agents, and partners,  and their
respective  Affiliates,  from and  against all claims,  Losses,  damages,  costs
(including the costs of preparation and attorney's  fees) and expenses  suffered
in respect of any claimed or existing fees based on any arrangement made by such
Purchaser or any of its  Affiliates  or any Person on behalf of any of them,  as
such fees and expenses are incurred.

               (f) Purchaser Status. Such Purchaser is an "accredited  investor"
within the meaning of Rule 501(a) of Regulation D under the Securities Act.

               (g) General  Solicitation.  Such  Purchaser is not purchasing the
Securities  as  a  result  of  any  advertisement,   article,  notice  or  other
communication  regarding the Securities published in any newspaper,  magazine or
similar media or broadcast over  television or radio or presented at any seminar
or any other general solicitation or general advertisement.

               (h) Investment Company.  Such Purchaser either is not required to
register or has registered as an "investment  company" within the meaning of the
Investment Company Act of 1940, as amended.

               (i) Reliance on Exemptions.  Such Purchaser  understands that the
Securities  are being offered and sold to it in reliance on specific  exemptions
from the registration requirements of U.S.

                                       20
<PAGE>

federal and state  securities  Laws and that the Company is relying in part upon
the truth and accuracy of, and such Purchaser's  representations  and warranties
set forth herein in order to determine the  availability  of such exemptions and
the eligibility of such Purchaser to acquire the Securities.

               (j) Trading  Activities.  Neither such  Purchaser  nor any of its
controlled Affiliates has an open short position in the Common Stock.

               (k) Rule 14f-1  Information.  Such  Purchaser has provided to the
Company  all  information   requested  by  the  Company  for  inclusion  in  the
Information  Statement with respect to such Purchaser or any Purchaser  Designee
designated  by such  Purchaser  for  election  to the Board  pursuant to Section
4.11(a) and all such  information  is  accurate  and  complete  in all  material
respects.

                                   ARTICLE IV
                         OTHER AGREEMENTS OF THE PARTIES

          4.1 Transfer Restrictions.

               (a)  Securities  may only be disposed of pursuant to an effective
registration  statement  under the  Securities  Act or pursuant to an  available
exemption  from the  registration  requirements  of the  Securities  Act, and in
compliance  with any applicable  state  securities  laws. In connection with any
transfer  of  Securities  other  than  pursuant  to  an  effective  registration
statement or to the Company or pursuant to Rule 144(k),  except as otherwise set
forth herein,  the Company may require the  transferor to provide to the Company
an opinion of counsel  selected by the  transferor,  the form and  substance  of
which  opinion shall be reasonably  satisfactory  to the Company,  to the effect
that such  transfer  does not require  registration  under the  Securities  Act.
Notwithstanding  the  foregoing,  the Company  hereby  consents to and agrees to
register on the books of the Company and with its  transfer  agent,  without any
such legal opinion, any transfer of Securities by a Purchaser to an Affiliate of
such Purchaser.

               (b) Each Purchaser  agrees to the  imprinting on any  certificate
evidencing  Securities,  except as otherwise  permitted by Section 4.1(c),  of a
restrictive  legend in  substantially  the form as  follows,  together  with any
additional  legend required by (i) any applicable state securities laws and (ii)
any Trading Market upon which such Securities may be listed:

               "THESE  SECURITIES AND THE SECURITIES INTO WHICH THESE SECURITIES
               ARE CONVERTIBLE  HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND
               EXCHANGE COMMISSION OR THE SECURITIES  COMMISSION OF ANY STATE IN
               RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
               ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY,
               MAY  NOT BE  OFFERED  OR SOLD  EXCEPT  PURSUANT  TO AN  EFFECTIVE
               REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
               AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
               REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN COMPLIANCE
               WITH  APPLICABLE   STATE   SECURITIES  LAWS  OR  BLUE  SKY  LAWS.
               NOTWITHSTANDING   THE   FOREGOING,   THESE   SECURITIES  AND  THE
               SECURITIES  ISSUABLE UPON  CONVERSION OF THESE  SECURITIES MAY BE
               PLEDGED TO AN  "ACCREDITED  INVESTOR"  WITHIN THE MEANING OF RULE
               501(A) UNDER THE  SECURITIES  ACT IN CONNECTION  WITH A BONA FIDE
               MARGIN ACCOUNT SECURED BY SUCH SECURITIES."

               (c) Certificates  evidencing  Securities shall not be required to
contain  such  legend or any other  legend  (i) while a  registration  statement
covering the resale of such Securities is effective under

                                       21
<PAGE>

the Securities Act, and (ii) following any sale of such  Securities  pursuant to
Rule 144, or (iii) if such legend is not required under applicable  requirements
of the Securities Act (including  judicial  interpretations  and  pronouncements
issued by the staff of the  Commission).  Following the  Effectiveness  Date (as
such term is defined in the  Registration  Rights  Agreement) or at such earlier
time as a legend is no longer required for certain Securities, the Company will,
no later than three (3) Trading  Days  following  the delivery by a Purchaser to
the  Company  or  the  Company's  transfer  agent  of  a  legended   certificate
representing such Securities, deliver or cause to be delivered to such Purchaser
a certificate representing such Securities that is free from all restrictive and
other  legends.  Except as may be required  to comply with a change in law,  the
Company may not make any  notation on its  records or give  instructions  to any
transfer  agent of the Company  that  enlarge the  restrictions  on transfer set
forth in this Section 4.1(c).

               (d) The Company  acknowledges  and agrees that any  Purchaser may
from time to time  pledge  or grant a  security  interest  in some or all of the
Securities  in  connection  with a bona fide margin  agreement  or other loan or
financing arrangement secured by the Securities and, if required under the terms
of such agreement,  loan or arrangement,  such Purchaser may transfer pledged or
secured Securities to the pledgees or secured parties. Such a pledge or transfer
would not be subject to  approval  of the  Company  and no legal  opinion of the
pledgee,  secured party or pledgor  shall be required in  connection  therewith.
Further,  no  notice  shall be  required  of such  pledge.  From and  after  the
Effectiveness  Date, at the appropriate  Purchaser's  expense,  the Company will
execute and deliver such reasonable  documentation as a pledgee or secured party
of Securities may reasonably  request in connection with a pledge or transfer of
the Securities,  including the preparation and filing of any required prospectus
supplement  under  Rule  424(b)(3)  of the  Securities  Act or other  applicable
provision  of the  Securities  Act to  appropriately  amend the list of "Selling
Stockholders" thereunder.

          4.2 Furnishing of Information. The Company covenants that it will take
such  action as any holder of  Securities  may  reasonably  request,  all to the
extent  required from time to time to enable such Person to sell such Securities
without  registration  under the Securities  Act,  within the limitations of the
exemptions provided by Rule 144.

          4.3 Integration. The Company shall not, and shall use its best efforts
to ensure  that no  Affiliate  of the  Company  shall,  sell,  offer for sale or
solicit  offers to buy or  otherwise  negotiate  in respect of any  security (as
defined in Section 2 of the  Securities  Act) that would be integrated  with the
offer or sale of the Securities in a manner that would require the  registration
under the  Securities Act of the sale of the  Securities to the  Purchasers,  or
that would be integrated  with the offer or sale of the  Securities for purposes
of the rules and regulations of the Trading Market.

          4.4  Reservation of  Securities.  The Company shall maintain a reserve
from its duly authorized  Common Shares for issuance pursuant to the Transaction
Documents in such amount as may be required to fulfill its  obligations  in full
under the Transaction Documents,  provided that prior to stockholder approval of
the  Proposal the Company  shall  maintain  all of its  authorized  but unissued
shares of Common Stock in satisfaction of such  obligation,  other than any such
shares reserved for issuance contemplated as of the date hereof.

          4.5 Access.  In addition  to any other  rights  provided by Law or set
forth herein,  from and after the date of this  Agreement and for so long as any
of the Shares remain outstanding, the Company shall, and shall cause each of the
Subsidiaries to (a) give each Purchaser and its representatives,  at the request
of such Purchaser,  access, subject to any contractual limitations or limitation
of applicable Law, during reasonable business hours, to all properties,  assets,
books, contracts,  commitments, reports, records relating to the Company and the
Subsidiaries,  and (b) to use  commercially  reasonable  efforts  to  give  each
Purchaser and its  representatives,  at the request of such  Purchaser,  access,
during reasonable business

                                       22
<PAGE>

hours, to the management,  accountants,  lenders, customers and suppliers of the
Company and the Subsidiaries.

          4.6 Use of Proceeds.  The Company shall use  substantially  all of the
net  proceeds  from  the  sale  of  the  Securities  and  the  Rights   Offering
contemplated  hereunder  for working  capital,  general  corporate  purposes and
reduction of net debt,  including,  without  limitation,  open market purchases,
call or repayment at maturity of outstanding Indebtedness.

          4.7 D & O Insurance;  Board.  So long as any Purchaser  Designee is on
the Board,  the  Company  shall  maintain  directors'  and  officers'  liability
insurance  providing  coverage in such amounts and on such terms as is customary
for a publicly  traded company of similar size to the Company but in no event in
an amount less than the amount in the  aggregate of coverage  under the policies
in effect as of the date  hereof,  as  reflected  on  Schedule  3.1(q)(1).  Such
insurance shall include coverage for all directors of the Company, including any
Purchaser Designee.  The Company shall use its reasonable best efforts to ensure
that  meetings  of its Board are held at least  four (4) times  each year and at
least once each quarter.  The Company shall provide  adequate  advance notice of
such meetings to all members of the Board as provided in the Company's by-laws.

          4.8 Properties;  Business  Insurance.  Except as expressly provided in
Section 4.7 above,  the Company  shall obtain and maintain and cause each of its
Subsidiaries to maintain as to their  respective  properties and business,  with
financially  sound and reputable  insurers,  insurance  against such casualties,
contingencies  and other risks and hazards and of such types and in such amounts
as is customary for companies similarly situated.

          4.9 Indemnification.  (a) To the fullest extent lawful, subject to the
limitations  in Section  4.9(b),  the Company shall  indemnify and hold harmless
each  Purchaser  and Related  Persons  from and  against any and all Losses,  as
incurred,  directly or indirectly  arising out of, based upon or relating to (i)
any breach by the Company of any of the representations,  warranties,  covenants
or other agreements made by the Company in any of the Transaction Documents,  or
any allegation by a third party that, if true,  would  constitute such a breach,
or (ii) any Proceeding brought by or against any Person, directly or indirectly,
in  connection   with  or  as  a  result  of  any  of  the   Transactions.   The
indemnification and expense reimbursement  obligations of the Company under this
paragraph  shall be in addition to any liability  that the Company may otherwise
have and shall be binding upon and inure to the benefit of any of the respective
successors,  assigns,  heirs and personal  representatives of each Purchaser and
any such Related  Persons.  If the Company  breaches its  obligations  under any
Transaction Document, then, in addition to any other liabilities the Company may
have under any Transaction  Document or applicable Law, the Company shall pay or
reimburse each  Purchaser on demand for all costs of collection and  enforcement
incurred by such Purchaser  (including  reasonable attorneys fees and expenses).
Without  limiting the  generality  of the  foregoing,  the Company  specifically
agrees to reimburse  each  Purchaser  on demand for all costs of such  Purchaser
incurred (i) in enforcing the  indemnification  obligations in this Section 4.9,
and (ii) in connection with the amendment,  modification or  supplementation  of
any Transaction Document.

               (b) The Company  shall not be required to indemnify any Purchaser
or any Related Persons for any Persons pursuant to Section  4.9(a)(i) for Losses
arising  from  breaches  of  representations,  warranties,  covenants  or  other
agreements  made by the Company (i) unless the aggregate of all Losses for which
the Company would, but for this Section 4.9(b)(i), be liable exceeds $500,000 on
a cumulative basis (and then from the first dollar); and (ii) to the extent such
Losses  are in excess  of the  aggregate  proceeds  to the  Company  paid by the
Purchasers  under all of the  provisions  of this  Agreement.  The amount of any
Losses  incurred by any Purchaser or any Related  Person shall be reduced by the
net amount  such  Purchaser  or Related  Party  receives  (after  deducting  all
reasonably attorneys' fees, expenses

                                       23
<PAGE>

and other  costs of  recovery)  from any  insurer of the  Company  pursuant to a
policy held by the Company or other party liable for such Losses.

          4.10  Approvals;   Taking  of  Actions.  The  Company  shall  use  its
commercially  reasonable  best  efforts  to (a) take or  cause  to be taken  all
actions,  and to do or cause to be done all other things,  necessary,  proper or
advisable to consummate the  Transactions  as promptly as  practicable,  and (b)
obtain  in a timely  manner  all  necessary  waivers,  consents  and  approvals,
including,  without limitation, those set forth in Section 3.1(e) and effect all
necessary  registrations  and  filings,   including,   without  limitation,  the
preparation,  mailing and filing of an information statement pursuant to Section
14(f)  of  the  Exchange  Act  and  Rule  14f-1   promulgated   thereunder  (the
"Information  Statement").  Each Purchaser and the Company shall  cooperate with
each  other  in  connection  with the  making  of all  such  filings,  including
providing  copies of all such documents to the non-filing party and its advisors
prior to filing.  Each  Purchaser  and the  Company  shall use their  respective
commercially  reasonable  efforts  to  furnish  to each  other  all  information
required  for  any  application  or  other  filing  to be made  pursuant  to any
applicable  Law  in  connection  with  the  Transactions,   including,   without
limitation, all information requested by the Company from such Purchaser that is
required to be disclosed in the  Information  Statement.  The Company shall give
any notices to third parties,  and use its  commercially  reasonable  efforts to
obtain any third party consents  related to or required in connection with or to
consummate the Transactions.  Prior to the Closing, the Company shall enter into
each of the Consulting Agreement and the Separation Agreement attached hereto as
Exhibits E-1 and E-2, respectively, with Johann R. Manning, Jr., and neither the
Company nor any of its Affiliates  nor anyone acting on any of their  respective
behalf  shall  enter into any other  agreement  or  arrangement  with  Johann R.
Manning,  Jr., or agree to do the foregoing,  and the Company  acknowledges that
any breach of any of the  obligations set forth in this sentence shall be deemed
a material failure to fulfill a condition under this Agreement.

         4.11 Purchaser Directors.

               (a) Subject to Section 4.11(b), the Company agrees that:

                    (i) the  Purchasers  shall  have the right to  designate  an
aggregate  of four (4)  nominees,  to be elected to the Board  initially  by the
three (3)  remaining  Board members  (each such  designee,  and any other person
later  designated  by the  Purchasers  for election to the Board to replace such
initial  four (4) nominees  designated  by the  Purchasers,  as specified in the
Information Statement, or their replacements, a "Purchaser Designee").

                    (ii) the Board  shall  consist  of not more  than  seven (7)
members.

                    (iii) the  Company  agrees to take all  actions  within  its
authority  (i) to cause each  Purchaser  Designee to be  appointed to the Board,
(ii) thereafter to cause the nomination of each Purchaser Designee in connection
with any subsequent proxy statement or information  statement  pursuant to which
the Company  intends to solicit  stockholders  with  respect to the  election of
directors,  (iii) to  recommend in  connection  with any such  subsequent  proxy
statement or information statement that stockholders of the Company vote for the
election  of each of the  Purchaser  Designees,  (iv) to  elect  each  Purchaser
Designee to all committees of the Board,  provided that such Purchaser Designees
meet the applicable  membership  requirements  of the Commission and the Trading
Market,  (v) to  provide  the  same  compensation  (except  as  provided  in the
Management  Agreement)  and rights and benefits of  indemnity  to the  Purchaser
Designees  once they  become a director as are  provided  to other  non-Employee
directors,  and (vi) use its commercially  reasonable  efforts to ensure that at
least four (4) Purchaser Designees remain on the Board at all times.

                                       24
<PAGE>

If,  prior to the end of the term of any member of the Board that is a Purchaser
Designee,  a vacancy in the  office of such  director  shall  occur by reason of
death, resignation,  removal or disability, or for any other cause, such vacancy
shall be filled by another designee of the Purchasers. The Purchasers shall have
the right to replace  any  Purchaser  Designee  on the Board at any time with or
without cause.

               (b) The  provisions  of Section  4.11(a)  shall apply only for so
long as all of the following are satisfied: (i) the Purchasers beneficially own,
directly or indirectly and on an  as-converted  basis, in the aggregate at least
50% of the  Shares  purchased  at the  Closing  or  Common  Shares  issued  upon
conversion thereof, subject to proportional adjustments to reflect stock splits,
combinations,  subdivisions,  or other similar  recapitalizations or events, and
(ii) the Series A Preferred  Stock is subject to any  limitation on voting under
Section 11(d) of the Series A Certificate of Designations.

          4.12 Registered Exchange Offer.

               (a) The Company  shall prepare and file with the  Commission  the
Exchange Offer  Registration  Statement with respect to the Registered  Exchange
Offer as soon as  reasonably  practicable  after the Closing  Date.  The Company
shall use its reasonable  best efforts to cause the Exchange Offer  Registration
Statement to become  effective  under the  Securities  Act as soon as reasonably
practicable after the Closing Date.

               (b) Upon the  effectiveness  of the Exchange  Offer  Registration
Statement, the Company shall promptly commence the Registered Exchange Offer.

               (c) In connection with the Registered Exchange Offer, the Company
shall:

                    (i) mail or cause to be mailed to each 7.375%  Holder a copy
of the  prospectus  forming part of the Exchange Offer  Registration  Statement,
together with an appropriate letter of transmittal and other related documents;

                    (ii) keep the  Registered  Exchange  Offer open for not less
than twenty (20) Business Days after the date notice thereof is delivered to the
7.375% Holders (or longer if required by applicable Law);

                    (iii) use its  reasonable  best efforts to keep the Exchange
Offer Registration  Statement  continuously  effective under the Securities Act,
supplemented and amended as required, under the Securities Act to ensure that it
is available for sales of Exchange Notes during the Exchange Offer  Registration
Period;

                    (iv) solicit, and use its commercially reasonable efforts to
obtain the consent of holders of the 7.375% Notes, to the replacement, as of the
consummation of the Registered Exchange Offer, of the covenants contained in the
indenture  relating  to  the  7.375%  Notes  substantially  identical  to  those
applicable to the Exchange Notes;

                    (v) utilize the services of a depositary  for the Registered
Exchange Offer, which may be the Trustee or an Affiliate thereof; and

                    (vi) comply in all  material  respects  with all  applicable
Laws.

               (d) As soon as  practicable  after  the  close of the  Registered
Exchange Offer, the Company shall:

                                       25
<PAGE>

                    (i) accept for exchange all 7.375% Notes  properly  tendered
and not validly withdrawn pursuant to the Registered  Exchange Offer on or prior
to its expiration;

                    (ii)  deliver or cause to be  delivered  to the  Trustee for
cancellation all 7.375% Notes so accepted for exchange; and

                    (iii) cause the Trustee promptly to authenticate and deliver
to each 7.375%  Holder so accepted for  exchange a principal  amount of Exchange
Notes  equal to the  principal  amount  of the  7.375%  Notes of such  holder so
accepted for exchange.

               (e) Each 7.375% Holder  participating in the Registered  Exchange
Offer shall be required to  represent  to the Company  that,  at the time of the
consummation of the Registered Exchange Offer:

                    (i) any Exchange  Notes  received by such 7.375% Holder will
be acquired in the ordinary course of business; and

                    (ii)  such  7.375%  Holder  will  have  no   arrangement  or
understanding with any Person to participate in the further  distribution of the
Exchange Notes within the meaning of the Securities Act.

               (f) If the Company  does not receive  the  requisite  consents of
holders of the 7.375% Notes for the action described in Section  4.12(c)(iv) and
is unable to  refinance  its  current  credit  facility  or obtain a new  credit
facility,  then, at the Company's option,  exercised by not later than three (3)
months after the close of the Registered  Exchange Offer,  the Purchasers  shall
offer to directly or  indirectly  provide  and, if such offer is accepted by the
Company,  shall provide a $25,000,000  (or such lesser amount as the Company may
request)  off-balance sheet metals consignment credit facility to the Company at
an annual rate of three  (3)-month  LIBOR plus a margin of 500 basis points,  on
terms reasonably  satisfactory to the Company and each Purchaser;  provided that
this Section  4.12(f)  shall not restrict the Company in such event from seeking
or obtaining similar financing from third parties on more favorable terms.

               (g) Each Purchaser  hereby consents that in the event the Company
receives  the  requisite  consents of holders of the 7.375% Notes for the action
described in Section 4.12(c)(iv),  then the Company may, in its sole discretion,
seek to refinance the Amended and Restated  Credit  Agreement  among the Company
and its U.S. subsidiaries, the lenders named therein and Wachovia Bank, National
Assocation, as administrative agent, as amended as of December 15, 2006.

               (h) The Purchasers  shall cause 100% of the 7.375% Notes owned by
the Purchasers to be tendered into the Registered Exchange Offer and in no event
less  than  $25,000,000  face  amount of 7.375%  Notes to be  tendered  into the
Registered Exchange Offer.

          4.13 Rights Offering; Standby.

               (a) As soon as practicable  after the Closing,  the Company shall
conduct a rights offering (the "Rights  Offering") under which the then existing
holders of Common Shares, not including the Purchasers,  if applicable,  will be
offered the right to purchase up to $51,100,000 of Common Shares to be issued by
the Company at a price per share equal to the  Conversion  Price of the Series A
Preferred  Stock (as defined in and in accordance  with the Series A Certificate
of  Designations).  Pursuant to the Rights Offering,  each such holder of Common
Shares  shall have the right to purchase  from the Company such number of Common
Shares (rounded up or down (with .5 being rounded up) to the nearest whole

                                       26
<PAGE>

number which could be zero or as otherwise  required by the rules of the Trading
Market)  equal to the product of (i) a fraction,  the  numerator of which is the
number of Common Shares then held by such holder and the denominator of which is
the total number of Common Shares then outstanding but excluding the Shares, any
Underlying  Shares and any Common Shares  otherwise  held by the  Purchasers not
acquired in respect of the  Transactions,  multiplied  by (ii) a  fraction,  the
numerator of which is $51,100,000  and the  denominator of which is equal to the
Conversion  Price of the Series A Preferred Stock.  Within  forty-five (45) days
following the consummation of the Rights Offering (the "Standby  Period"),  each
Purchaser shall be obligated to purchase a number of additional shares of Series
A  Preferred  Stock  (the  "Standby  Shares"),  at a per share  price of $1,000,
representing its pro-rata share (as set forth in Schedule  4.13(a)) of an amount
not to exceed  $25,000,000  minus  the  gross  proceeds  to the  Company  (up to
$25,000,000) for the Common Shares  purchased in the Rights Offering.  If at any
time the  Purchasers  in the  aggregate  own such  number  of shares of Series A
Preferred Stock (taking into account the Standby Shares actually  purchased,  if
applicable)  representing less than 55% of the outstanding  capital stock of the
Company  on  an  as-converted,  fully  diluted  basis  (the  "Minimum  Ownership
Percentage"),  then each Purchaser  shall have the right to purchase in cash, in
its sole discretion,  a number of additional shares of Series A Preferred Stock,
at a per  share  price of  $1,000,  equal to its  pro-rata  share  (based on its
portion of the  Aggregate  Purchase  Price) of the number of shares  which would
cause the Purchasers in the aggregate to reach the Minimum Ownership  Percentage
(the "Option  Shares");  provided  that such right will expire  ninety (90) days
after the consummation of the Rights Offering and provided, further, that for 30
additional  days after the  expiration  of such right,  any  Purchaser  that has
purchased  its full  portion  of the Option  Shares  shall have the right on the
terms above to purchase  any portion of the Option  Shares not  purchased by the
other Purchaser in such initial ninety (90)-day period.

               (b) The Company shall,  as promptly as practicable  following the
Closing,  prepare  and  file  with  the  Commission  a  registration  statement,
including a  prospectus  (the  "Rights  Offering  Registration  Statement"),  in
connection  with  the  registration  under  the  Securities  Act of  the  Rights
Offering,  including the Common Shares,  including,  without limitation,  Common
Shares issuable upon conversion of the Standby Shares and the Option Shares,  in
each case  issuable  pursuant to the Rights  Offering.  The Company will provide
each Purchaser and Purchaser Counsel with a reasonable opportunity to review and
comment on the Rights Offering Registration  Statement (including the prospectus
contained  therein) or any amendment or  supplement  thereto prior to the filing
thereof with the  Commission.  The Company and each Purchaser  shall consult and
cooperate with each other in the  preparation  and filing of the Rights Offering
Registration  Statement  (including  the prospectus  contained  therein) and the
Company will provide each  Purchaser  and  Purchaser  Counsel with a copy of all
such filings with the Commission.  The Company shall, as promptly as practicable
after the receipt  thereof,  provide to each  Purchaser  and  Purchaser  Counsel
copies of any written comments,  and advise the Purchasers of any oral comments,
with respect to the Rights  Offering  Registration  Statement  received from the
staff of the Commission.  The Company shall use commercially  reasonable efforts
to cause the Rights Offering Registration  Statement to be declared effective as
promptly as practicable  after filing with the  Commission,  including,  without
limitation,  using  commercially  reasonable efforts to cause its accountants to
deliver  necessary  or required  instruments,  such as  opinions,  consents  and
certificates,  and will take any other action  required or necessary to be taken
under applicable Laws.

          4.14 Stockholder Approval.

               (a) The Company shall seek, and use its best efforts to obtain as
soon as possible,  but in no event later than June 30,  2007,  or 240 days after
the  Closing  in  the  event  the  proxy  materials  shall  be  reviewed  by the
Commission,  stockholder  approval of an  increase  in the number of  authorized
Common Shares under the Company's  Restated  Certificate of  Incorporation  from
40,000,000  shares  to at least  175,000,000  or such  greater  amount as may be
authorized by the Board at the time the proxy

                                       27
<PAGE>

materials  are  prepared  to  be  mailed  to  the  Company's  stockholders  (the
"Proposal").  Each Purchaser  shall vote any shares of Common Stock and Series A
Preferred  Stock held by it at the  applicable  time in favor of the Proposal to
the greatest extent such shares may be voted by it.

               (b) As soon as practicable  following the date of this Agreement,
but in no event later than sixty (60) days following the date of this Agreement,
the  Company  shall  prepare  and file  with the  Commission  preliminary  proxy
materials in  connection  with the sooner of the next annual or special  meeting
(the  "Meeting") of its  stockholders,  seeking  approval of the  Proposal.  The
Company shall use its reasonable  best efforts to cause such proxy  materials to
reach the "no further comment" stage as soon as possible (the date such stage is
reached,  the  "Clearance  Date") and to hold the  Meeting  as soon as  possible
following  the  Clearance  Date,  but in no event  later  than  sixty  (60) days
following the Clearance Date.

               (c) The Board shall  recommend  approval  of the  Proposal by the
Company's  stockholders  provided that such recommendation does not, as a result
of events  occurring  after the date hereof,  in the sole  determination  of the
Board,  constitute a breach of a director's  fiduciary  duties to the Company or
its stockholders.  The Company shall mail and distribute its proxy materials for
the  Meeting  to its  stockholders  at  least  30 days  prior to the date of the
Meeting and shall actively solicit proxies to vote for the Proposal,  subject to
the proviso to the  immediately  preceding  sentence.  The Company shall provide
each  Purchaser and Purchaser  Counsel an  opportunity  to review and comment on
such proxy materials by providing copies of such proxy materials and any revised
version of such materials to each Purchaser and Purchase  Counsel at least three
(3) days prior to its filing with the Commission. The Company shall provide each
Purchaser and Purchaser Counsel with excerpts of all  correspondence  from or to
the Commission or its staff  concerning the Proposal  promptly after the same is
sent  or  received  by  the  Company  and  summaries  of  any  comments  of  the
Commission's  staff  concerning the Proposal which the Company  receives  orally
promptly after  receiving  such oral comments.  The Company shall (i) furnish to
each Purchaser and Purchaser  Counsel a copy of its definitive  proxy  materials
for the Meeting and any  amendments or  supplements  thereto  promptly after the
same are first mailed to stockholders or filed with the Commission,  (ii) inform
each Purchaser of the progress of  solicitation  of proxies for such meeting and
(iii)  inform each  Purchaser of any  adjournment  of the Meeting and report the
result of the vote of  stockholders  on the  Proposal at the  conclusion  of the
Meeting.

               (d) If for  any  reason  the  Proposal  is  not  approved  at the
Meeting,  the Company will, at the request of the Purchasers,  either (i) if its
Common Shares are then listed on the New York Stock  Exchange,  take all actions
necessary to delist its Common  Shares from the New York Stock  Exchange or (ii)
take such  additional  acts or actions as are  necessary  to hold an  additional
annual meeting or special  meeting of its  stockholders to consider the Proposal
and  in  conjunction   therewith  shall  hire  a  nationally   recognized  proxy
solicitation  firm,  selected by mutual  agreement  of the  Purchasers  which is
reasonably  satisfactory to the Company,  to assist the Company in obtaining the
necessary  stockholder votes to approve the Proposal.  In addition,  the Company
shall take all actions within its power  reasonably  requested by the Purchasers
to authorize  sufficient  shares of Common Stock to allow for full conversion of
the Shares as promptly  as  practicable.  The  Company  shall bear all costs and
expenses  of the  preparation  and  filing  of any and all proxy  materials  and
additional meetings contemplated by this Section 4.14, including but not limited
to the costs and expenses of the proxy solicitation firm if needed.

         4.15 Certain Activities. From the date hereof until the expiration of
the period of ten (10) Trading Days following the public announcement of the
transactions contemplated by this Agreement, (i) each Purchaser shall not, and
shall not permit any of its Affiliates or any Person acting on behalf of any of
them to, sell any shares of Common Stock or cause or induce any other Person to
sell any shares of Common Stock or take any other action (except as required by
Law) that would reasonably be expected to depress the price of the Common Stock
on the Trading Market below the price that would otherwise

                                       28
<PAGE>

prevail,  and (ii) the  Company  shall  not,  and  shall not  permit  any of its
Affiliates or any Person acting on behalf of any of them to, purchase any shares
of Common  Stock or cause or induce any other  Person to purchase  any shares of
Common  Stock or take any other  action  (except as  required by Law) that would
reasonably  be expected to elevate the price of the Common  Stock on the Trading
Market above the price that would otherwise prevail.

          4.16 Limitations on Conversion.  Each Purchaser agrees that, until the
Proposal has been  approved by the  stockholders  of the Company and the related
Certificate of Amendment to the Company's Restated  Certificate of Incorporation
has been  filed  with the  Secretary  of State  of the  State of  Delaware,  (i)
notwithstanding  anything to the contrary in any Transaction  Document, it shall
not seek to convert any Shares into a number of Common  Shares that  exceeds the
number of Common Shares that are then  authorized but not issued or reserved for
other  purposes,  and (ii) it shall not transfer any Shares to any Person unless
such Person enters onto an agreement with the Company containing restrictions on
conversion and transfer substantially similar to those contained in this Section
4.16.

                                   ARTICLE V
                                   CONDITIONS

          5.1 Conditions  Precedent to the  Obligations of the  Purchasers.  The
obligation of each  Purchaser to acquire Shares at the Closing is subject to the
satisfaction  by the  Company  or waiver  by such  Purchaser,  at or before  the
Closing, of each of the following conditions:

               (a)  Representations  and  Warranties.  The  representations  and
warranties of the Company  contained in the Transaction  Documents shall be true
and  correct  in  all  material   respects   (without   giving   effect  to  any
qualifications as to materiality herein or therein) as of the date when made and
as of the Closing as though made on and as of such time;

               (b) Performance. The Company shall have performed,  satisfied and
complied in all material respects with all covenants,  agreements and conditions
required by the  Transaction  Documents to be  performed,  satisfied or complied
with by it at or prior to the Closing, including, without limitation, delivering
or causing  the  delivery of those items  required to be  delivered  pursuant to
Section 2.2(a);

               (c) No Injunction. No statute, rule, regulation, executive order,
decree,  ruling or injunction shall have been enacted,  entered,  promulgated or
endorsed by any Governmental  Authority of competent jurisdiction that prohibits
the consummation of any of the Transactions;

               (d)  Certificate  of  Designations.  The Series A Certificate  of
Designations  shall  have been duly  adopted  and  executed  and filed  with the
Secretary of State of the State of Delaware.  The Company shall not have adopted
or filed any other document designating terms, relative rights or preferences of
the Shares.  The Series A Certificate of Designations shall be in full force and
effect as of the Closing  under the laws of the State of Delaware  and shall not
have  been  amended  or  modified,  and a copy of the  Series A  Certificate  of
Designations  certified by the Secretary of State of the State of Delaware shall
have been delivered to Purchaser Counsel;

               (e)  Adverse  Changes.  Since the date of this  Agreement,  there
shall have been no Material  Adverse Effect in the reasonable  determination  of
such Purchaser;

               (f) No Suspensions  of Trading in Common  Shares.  Trading in the
Common  Stock shall not have been  suspended by the  Commission  (except for any
suspensions  of  trading of not more than one (1)  Trading  Day solely to permit
dissemination of material  information  regarding the Company) at any time since
the date of this Agreement.

                                       29
<PAGE>

               (g)  Information  Statement.  At least ten (10) days  shall  have
elapsed since the Company filed the  Information  Statement  with the Commission
and  transmitted  the  Information  Statement to all holders of record of Common
Stock as of the date of transmission;

               (h)  Directors.   The  Company  shall  have  delivered   evidence
reasonably  satisfactory  to  the  Purchasers  that  subject  to  and  effective
immediately  prior  to the  Closing  (i) at least  five (5) of the then  current
members of the Board shall have resigned,  (ii) the number of authorized members
of the  Board  shall  have been  reduced  to seven  (7),  and (iii) the four (4)
vacancies  on the Board shall have been filled by the  Purchaser  Designees,  in
accordance with Section 4.11;

               (i)  Consents.   The  Company  shall  have   delivered   evidence
reasonably satisfactory to the Purchasers that the Company has obtained a waiver
from Wachovia Bank,  National  Association  ("Wachovia")  (and any other parties
necessary in order to give such waiver) of certain provisions of the Amended and
Restated  Receivables  Purchase  Agreement and the  Receivables  Sales Agreement
among the Company, Wachovia and the other parties thereto, each as amended as of
December 15, 2006 (collectively,  the " Receivables Credit Facilities") relating
to a change in control of the Company;

               (j)  Amendments.   The  Company  shall  have  delivered  evidence
reasonably  satisfactory  to  the  Purchasers  that  the  Company  has  obtained
amendments  to the  financial  covenants  contained  in the Amended and Restated
Credit Agreement among the Company and its U.S. subsidiaries,  the lenders named
therein and Wachovia,  as  administrative  agent,  as amended as of December 15,
2006 (the "Revolving Credit Facility") and the Receivables Credit Facilities, in
each case on terms reasonably satisfactory to the Purchasers;

               (k) Golden Dragon.  Golden Dragon Precise Copper Tube Group, Inc.
("Golden  Dragon")  shall  have  executed a written  acknowledgment  in the form
attached hereto as Exhibit F and a copy of such acknowledgement  shall have been
provided to the Purchasers; and

               (l) Chief Executive  Officer.  The Company and Johann R. Manning,
Jr. shall each have  executed and  delivered  the  Consulting  Agreement and the
Separation  Agreement  in the  forms  attached  hereto as  Exhibits  E-1 and E-2
respectively.

          5.2  Conditions  Precedent  to the  Obligations  of the  Company.  The
obligation  of the  Company to sell Shares to each  Purchaser  at the Closing is
subject to the  satisfaction  by such Purchaser or waiver by the Company,  at or
before the Closing, of each of the following conditions:

               (a)  Representations  and  Warranties.  The  representations  and
warranties  of  such  Purchaser  contained  herein  and  the  other  Transaction
Documents shall be true and correct in all material respects as of the date when
made and as of the Closing as though made on and as of such time;

               (b) Performance.  Such Purchaser shall have performed,  satisfied
and  complied  in all  material  respects  with all  covenants,  agreements  and
conditions required by the Transaction  Documents to be performed,  satisfied or
complied with by such Purchaser at or prior to the Closing,  including,  without
limitation,  delivering  or causing the  delivery of those items  required to be
delivered pursuant to Section 2.2(b); and

               (c) No Injunction. No statute, rule, regulation, executive order,
decree,  ruling or injunction shall have been enacted,  entered,  promulgated or
endorsed by any Governmental  Authority of competent jurisdiction that prohibits
the consummation of any of the Transactions.

                                       30
<PAGE>

                                   ARTICLE VI
                                  MISCELLANEOUS

          6.1 Exclusive  Dealing.  Unless and until this Agreement is terminated
as provided  herein prior to the  consummation  of the Closing,  the  Registered
Exchange  Offering  and the Rights  Offering,  the Company  shall not (and shall
cause  each  of its  shareholders,  officers,  directors,  employees  or  agents
(collectively, "Company Related Persons") not to) either:

               (a)   solicit   bids  or  offers  or  initiate   discussions   or
negotiations with; or

               (b) on an unsolicited  basis furnish or cause to be furnished any
information concerning the Company to,

any Person (other than the  Purchasers and any Related Person and, if and to the
extent  required by Law, any  Governmental  Authority)  relating to any proposal
with  respect  to any  merger or  consolidation  of the  Company  with any other
Person,  the  acquisition  of any securities or any  significant  portion of the
assets  and  properties  of  the  Company,  or  any  liquidation,   dissolution,
restructuring  or   recapitalization   of  the  Company  (each  an  "Alternative
Restructuring").  Notwithstanding  anything herein to the contrary, if the Board
shall, at any time,  determine that an Alternative  Restructuring is superior to
the  Transactions  proposed  herein,  and if the Board  shall  determine  in the
exercise of its  fiduciary  duties it is  required  to pursue  such  Alternative
Restructuring,  then  the  Company  and the  Company  Related  Persons  shall be
released from any obligation  under this Section 6.1 to the extent,  and only to
the extent,  necessary to pursue such Alternative  Restructuring consistent with
the exercise of such fiduciary duties. If the Company receives, or if any of the
Company  Related  Persons  receive,  any inquiry or  proposal of an  Alternative
Restructuring,  then the Company  shall (and it shall cause the Company  Related
Persons to) promptly notify the Purchasers of the existence,  material terms and
status of any such inquiry or proposal.

          6.2 Termination.

               (a)  This  Agreement  may  be  terminated  and  the  transactions
contemplated hereby may be abandoned at any time prior to the Closing Date:

                    (i) by the mutual consent of the Company and each Purchaser;
provided  that the Company  shall be required to represent to each  Purchaser at
the time of such  termination  that the Company is not in material breach of any
of the provisions of this Agreement;

                    (ii) by any  Purchaser  if (x)  the  Closing  has  not  been
consummated  by February 28, 2007;  or (y) the Company is in material  breach of
its obligations under this Agreement; or

                    (iii) by the Company,  if necessary to pursue an Alternative
Restructuring in accordance with Section 6.1.

               (b) In the event that:

                    (i) any  Purchaser  terminates  this  Agreement  pursuant to
Section  6.2(a)(ii)(y)  because the Company has breached its  obligations  under
Section 6.1;

                    (ii) any Purchaser  terminates  this  Agreement  pursuant to
Section 6.2(a)(ii), (unless the failure to close by the date set forth in clause
(x) of  such  section  is due  solely  to a  breach  of this  Agreement  by such
Purchaser)  and  within  one (1) year after any such  termination,  the  Company
consummates an Alternative Restructuring; or

                                       31
<PAGE>

                    (iii) the  Company  terminates  this  Agreement  pursuant to
Section 6.2(a)(iii);

then,  in  any  such  event,  the  Company  shall  pay  the  Purchasers,  as the
Purchasers' liquidated damages (and not as a penalty) incurred by the Purchasers
in connection  with this  Agreement and the  Transactions,  the aggregate sum of
$4,000,000  (subject to  reduction  pursuant to Section  6.3(b)),  to be divided
among the  Purchasers  pro rata  according to their  respective  portions of the
Aggregate  Purchase  Price.  Such $4,000,000  (subject to reduction  pursuant to
Section 6.3(b)) shall be paid by wire transfer of immediately  available  funds,
in the case of clause  (i)  above,  within  two (2)  business  days  after  such
termination,  in  the  case  of  clause  (ii)  above,  simultaneously  with  the
consummation of such Alternative  Restructuring  and in the case of clause (iii)
above, in no event later than the 30th day after such termination.

               (c) No termination  of this  Agreement  shall affect the right of
any party to sue for any breach by the other party (or parties).

          6.3 Fees and Expenses.  The Company shall pay to each  Purchaser  upon
the Closing or earlier termination of this Agreement pursuant to Section 6.2 the
legal,  accounting,  consulting,  travel  and all other  out-of-pocket  expenses
incurred  by such  Purchaser  and  Purchaser  Counsel  in  connection  with  due
diligence and the preparation  and negotiation of the Transaction  Documents and
otherwise  in  connection  with the  Transactions  (the  "Fees  and  Expenses");
provided that (a) such  reimbursement  obligation  with respect to such Fees and
Expenses shall not exceed  $1,250,000,  and (b) the termination fee contemplated
in  Section  6.2 shall be subject  to  reduction  in the amount of such Fees and
Expenses to the extent paid.  For the avoidance of doubt,  the Fees and Expenses
payable  under this  Agreement  shall not include and are in addition to (x) any
compensation   payable  to  Imperial  Capital,  LLC  pursuant  to  that  certain
engagement  letter dated September 15, 2006 between  Imperial  Capital,  LLC and
Plainfield Special Situations Master Fund Limited, as amended December 11, 2006,
and/or (y) the fees  payable or  contemplated  to be paid to the  Purchasers  or
their  respective  Affiliates  by that  certain  Letter  of  Intent  dated as of
November 7, 2006 between the Company,  Alpine and Plainfield and by that certain
Letter  Agreement  dated  September  15, 2006  between the  Company,  Alpine and
Plainfield  pursuant to the respective  terms thereof),  which  compensation and
fees shall be paid in accordance with such  agreements.  Except as expressly set
forth in this Section 6.3 or the Transaction Documents, each party shall pay the
fees and expenses of its advisers,  counsel,  accountants and other experts,  if
any, and all other expenses  incurred by such party incident to the negotiation,
preparation,  execution,  delivery and performance of the Transaction Documents.
The Company shall pay all transfer  agent fees,  stamp taxes and other taxes and
duties levied in connection with the issuance of any Securities.

          6.4 HSR Act Filings. As promptly as practicable after the date hereof,
if and to the extent the parties  reasonably  determine that the purchase of the
Standby Shares and/or the Option Shares will cause a filing under the HSR Act to
be necessary, the Company and each Purchaser will prepare and will make (or each
will  cause its  "ultimate  parent  entity"  to  prepare  and make) the  filings
required  to be made with the FTC and the DOJ  under  the HSR Act in  connection
with the Transactions. If the FTC or the DOJ requires any additional information
with  respect  to  the  Transactions,  the  Company  and  the  Purchasers  shall
reasonably cooperate with each other in obtaining and preparing such information
and delivering it to the FTC and the DOJ as promptly as reasonably  practicable.
Prior to furnishing any written materials or presentations to the FTC or the DOJ
in  connection  with  the  transactions  provided  for by  this  Agreement,  the
Purchasers  shall  furnish the Company with a copy thereof and the Company shall
furnish the Purchasers with a copy thereof, as applicable, and the party to whom
such  materials  or   presentations   are  furnished  shall  have  a  reasonable
opportunity to provide  comments  thereon.  The Company and each Purchaser shall
provide to the other  parties  hereto prompt  written  notice if it receives any
notice or other  communication  from the FTC or the DOJ in  connection  with the
transactions  provided for by this Agreement and, in the case of any such notice
or communication that is in writing, shall promptly furnish

                                       32
<PAGE>

such other  parties  with a copy  thereof.  Any fees and  expenses  incurred  in
respect of, or in connection  with,  any filings under the HSR Act in connection
with the Transactions shall be borne by the Company.

          6.5 Entire  Agreement.  The Transaction  Documents,  together with the
exhibits and schedules  thereto and the other  agreements  referenced  herein or
therein,  contain the entire  understanding  of the parties  with respect to the
subject  matter hereof and supersede all prior  agreements  and  understandings,
oral or written,  with respect to such  matters,  which the parties  acknowledge
have been merged into such  documents,  exhibits and schedules.  At or after the
Closing, and without further consideration,  each Party will execute and deliver
to each other Party such  further  documents as may be  reasonably  requested in
order to give  practical  effect  to the  intention  of the  parties  under  the
Transaction Documents.  Each Party acknowledges that no other Party has made any
representations,  warranties, promises or commitments other than as set forth in
the  Transaction  Documents,  including  any  promises  or  commitments  for any
additional investment by any such Party.

          6.6 Notices. Any and all notices or other communications or deliveries
required or permitted to be provided  hereunder shall be in writing and shall be
deemed given and effective on the earliest of (i) the date of  transmission,  if
such notice or  communication is delivered via facsimile at the facsimile number
specified  in this  Section  6.6  prior to 5:00 p.m.  (New York City  time) on a
Trading Day, (ii) the Trading Day after the date of transmission, if such notice
or communication is delivered via facsimile at the facsimile number specified in
this Agreement later than 5:00 p.m. (New York City time) on any date and earlier
than  11:59  p.m.  (New York City  time) on such  date,  (iii) the  Trading  Day
following  the  date of  sending,  if sent by  nationally  recognized  overnight
courier  service,  specifying  next business day  delivery,  or (iv) upon actual
receipt by the party to whom such notice is required to be given if delivered by
hand. The address for such notices and communications shall be as follows:

<TABLE>
<CAPTION>
<S>      <C>                                                 <C>
         If to the Company:                                  WOLVERINE TUBE, INC.
                                                             200 Clinton Avenue West, Suite 1000
                                                             Huntsville, Alabama 35801
                                                             Attn:    James E. Deason
                                                             Phone:  (256) 580-3500
                                                             Fax:  (256) 580-3996

         With a copy (which shall not constitute notice)     LeBoeuf, Lamb, Greene & MacRae LLP
         to:                                                 125 West 55th Street
                                                             New York, New York 10019
                                                             Attn:  Lawrence A. Larose, Esq.
                                                                    Matthew M. Ricciardi, Esq.
                                                             Phone:  (212) 424-8000
                                                             Fax:  (212) 424-8500

         If                                                  to a Purchaser: To
                                                             the address set
                                                             forth under such
                                                             Purchaser's name on
                                                             the signature pages
                                                             attached hereto.

         In  each  case,  with  a  copy  (which  shall  not  Proskauer Rose LLP
         constitute notice) to each other Purchaser and to:  1585 Broadway
                                                             New York, NY  10036-8299
                                                             Facsimile No.:  (212) 969-2900
                                                             Attn:  Ronald R. Papa, Esq. and
                                                                     Adam J. Kansler, Esq.
</TABLE>

                                       33
<PAGE>

or such other  address as may be designated  in writing  hereafter,  in the same
manner,  by such Person by two (2) Trading Days' prior notice to the other party
in accordance with this Section 6.6.

          6.7 Amendments;  Waivers. No provision of this Agreement may be waived
or amended except in a written  instrument  signed, in the case of an amendment,
by the  Company  and  each  Purchaser,  or,  in the  case of a  waiver,  by each
Purchaser  whose rights under this  Agreement are affected  thereby.  Any waiver
executed by such Purchaser(s) shall be binding on the Company and all holders of
Securities. No waiver of any default with respect to any provision, condition or
requirement of this Agreement  shall be deemed to be a continuing  waiver in the
future or a waiver of any subsequent default or a waiver of any other provision,
condition or requirement hereof, nor shall any delay or omission of either party
to exercise any right  hereunder  in any manner  impair the exercise of any such
right.

          6.8 Construction. The headings herein are for convenience only, do not
constitute a part of this  Agreement  and shall not be deemed to limit or affect
any of the provisions hereof. The language used in this Agreement will be deemed
to be the language chosen by the Parties to express their mutual intent,  and no
rules  of  strict   construction   will  be  applied  against  any  Party.   The
representations and warranties in this Agreement are the product of negotiations
among the Parties and are for the sole benefit of the Parties.  Any inaccuracies
in such  representations  and warranties are subject to waiver by the Parties in
accordance with this Agreement  without notice or liability to any other Person.
In some  instances,  the  representations  and  warranties in this Agreement may
represent an allocation  among the Parties of risks  associated  with particular
matters regardless of the knowledge of any of the Parties. Consequently,  except
as  expressly  provided in Section 4.9,  Persons  other than the Parties may not
rely  upon  the   representations   and   warranties   in  this   Agreement   as
characterizations  of  actual  facts  or  circumstances  as of the  date of this
Agreement or as of any other date.

          6.9 Successors and Assigns.  This Agreement  shall be binding upon and
inure to the benefit of the parties and their successors and permitted  assigns.
The Company may not assign this Agreement or any rights or obligations hereunder
without the prior written consent of each Purchaser. Any Purchaser may from time
to time assign its rights under this  Agreement to any Person or Persons to whom
such Purchaser  assigns or transfers any  Securities;  provided such  transferee
agrees in writing to be bound,  with respect to the transferred  Securities,  by
the provisions hereof and of the applicable  Transaction Documents that apply to
the "Purchasers."

          6.10 No Third-Party Beneficiaries.  This Agreement is intended for the
benefit of the parties  hereto and their  respective  successors  and  permitted
assigns and is not for the benefit of, nor may any provision  hereof be enforced
by, any other Person, except that each Related Person is an intended third party
beneficiary of Section 4.9 and (in each case) may enforce the provisions thereof
directly against the parties with obligations thereunder.

          6.11  Governing  Law;  Venue;  Waiver  of Jury  Trial.  All  questions
concerning the  construction,  validity,  enforcement and  interpretation of the
Transaction  Documents  shall be  governed  by and  construed  and  enforced  in
accordance  with the internal  laws of the State of New York.  Each party agrees
that all Proceedings concerning the interpretations,  enforcement and defense of
the  Transactions  (whether  brought  against a party  hereto or its  respective
affiliates,  directors,  officers,  stockholders,  employees or agents) shall be
commenced  exclusively in the state and U.S.  federal courts sitting in the City
of New York, Borough of Manhattan.  Each party hereto hereby irrevocably submits
to the exclusive  jurisdiction  of the state and U.S.  federal courts sitting in
the City of New York,  Borough of Manhattan for the  adjudication of any dispute
hereunder or in connection  herewith or with any of the Transactions  (including
with respect to the enforcement of any of the Transaction Documents), and hereby
irrevocably  waives, and agrees not to assert in any Proceeding,  any claim that
it is not personally subject to the jurisdiction of any such court, or that such
Proceeding is improper. Each party hereto hereby irrevocably

                                       34
<PAGE>

          waives  personal  service of process  and  consents  to process  being
served in any such  Proceeding  by  mailing a copy  thereof  via  registered  or
certified  mail or overnight  delivery (with evidence of delivery) to such party
at the address in effect for notices to it under this  Agreement and agrees that
such service shall constitute good and sufficient  service of process and notice
thereof.  Nothing contained herein shall be deemed to limit in any way any right
to serve process in any manner  permitted by  applicable  Law. Each party hereto
hereby  irrevocably  waives,  to the fullest extent permitted by applicable Law,
any and all right to trial by jury in any Proceeding  arising out of or relating
to any of the  Transaction  Documents  or the  Transactions.  If any party shall
commence a Proceeding  to enforce any  provisions of any  Transaction  Document,
then the prevailing  party in such  Proceeding  shall be reimbursed by the other
party for its reasonable  attorneys fees and other reasonable costs and expenses
incurred with the investigation, preparation and prosecution of such Proceeding.

          6.12  Survival.  The  representations,   warranties,   agreements  and
covenants contained herein shall survive the Closing and the delivery,  exercise
and/or conversion of the Securities, as applicable.

          6.13  Execution.  This  Agreement  may be  executed in two (2) or more
counterparts,  all of which when taken  together shall be considered one (1) and
the same agreement and shall become effective when counterparts have been signed
by each party and delivered to the other party,  it being  understood  that both
parties need not sign the same  counterpart.  In the event that any signature is
delivered by facsimile  transmission,  such  signature  shall create a valid and
binding  obligation of the party executing (or on whose behalf such signature is
executed) the same with the same force and effect as if such facsimile signature
page were an original thereof.

          6.14  Severability.  If any provision of this  Agreement is held to be
invalid or unenforceable in any respect,  the validity and enforceability of the
remaining  terms  and  provisions  of  this  Agreement  shall  not in any way be
affected or impaired thereby and the parties will attempt in good faith to agree
upon a valid and enforceable provision that is a reasonable substitute therefor,
and upon so  agreeing,  shall  incorporate  such  substitute  provision  in this
Agreement.

          6.15 Rescission and Withdrawal Right.  Notwithstanding anything to the
contrary  contained in (and without  limiting any similar  provisions of) any of
the Transaction  Documents,  whenever any Purchaser exercises a right, election,
demand or option  under a  Transaction  Document and the Company does not timely
perform its related  obligations within the periods therein provided,  then such
Purchaser may rescind or withdraw, in its sole discretion from time to time upon
written notice to the Company, any relevant notice,  demand or election in whole
or in part without prejudice to its future actions and rights.

          6.16  Remedies.  In addition to being  entitled to exercise all rights
provided herein or granted by Law,  including  recovery of damages,  each of the
Purchasers  and the Company will be entitled to specific  performance  under the
Transaction  Documents.  The  parties  agree that  monetary  damages  may not be
adequate  compensation  for  any  loss  incurred  by  reason  of any  breach  of
obligations described in the foregoing sentence and hereby agree to waive in any
Proceeding for specific  performance  of any such  obligation the defense that a
remedy at law would be adequate.

          6.17  Adjustments  in Share  Numbers and  Prices.  In the event of any
stock split,  subdivision,  dividend or distribution payable in Common Shares or
Common Share Equivalents, combination or other similar recapitalization or event
occurring after the date hereof, each reference in this Agreement to a number of
shares or a price per share shall be amended to  appropriately  account for such
event.

          6.18  Signature  by the  Company.  Notwithstanding  anything  in  this
Agreement to the contrary,  this Agreement shall not become  effective and shall
have no legal or binding force or effect unless duly

                                       35
<PAGE>

executed and delivered to the Purchasers by the Company at or prior to 4:00 p.m.
(New York City time) on Wednesday, January 31, 2007.

                   [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
                             SIGNATURE PAGES FOLLOW]

                                       36
<PAGE>

          IN WITNESS  WHEREOF,  the parties  hereto  have caused this  Preferred
Stock Purchase  Agreement to be duly executed and delivered by their  respective
authorized signatories as of the date first indicated above.

                              WOLVERINE TUBE, INC.

                              By: /s/ Johann R. Manning, Jr.
                                 ----------------------------------------
                                  Name: Johann R. Manning, Jr.
                                  Title:

                   [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
                     SIGNATURE PAGES OF PURCHASERS FOLLOW.]

<PAGE>

                              PURCHASERS:

                              THE ALPINE GROUP, INC.

                              By:

                              By: /s/ K. Mitchell Posner
                                 ----------------------------------------
                                  Name: K. Mitchell Posner
                                  Title: Executive Vice President

                              Address for Notice:

                              One Meadowlands Plaza
                              East Rutherford, New Jersey
                              Phone: (201) 549-4400
                              Fax: (201) 549-4428
                              Attn: Steven S. Elbaum

<PAGE>

                              PURCHASERS:

                              PLAINFIELD SPECIAL SITUATIONS MASTER
                                  FUND LIMITED

                              By:

                              By: /s/ Thomas X. Fritsch
                                 ----------------------------------------
                                  Name: Thomas X. Fritsch
                                  Title: Authorized Individual

                              Address for Notice:

                              c/o Plainfield Asset Management LLC.
                              55 Railroad Avenue
                              Greenwich, CT 06830
                              Phone:  (203) 302-1715
                              Fax:  (203) 302-1779
                              Attn:  Thomas X. Fritsch

<PAGE>

                                  Schedule 2.1
                                  ------------

Purchaser:                                               Number of Shares:

The Alpine Group, Inc.                                   10,000

Plainfield Special Situations Master Fund Limited        40,000

<PAGE>

                                    EXHIBIT A
                                    ---------

                              WOLVERINE TUBE, INC.

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

                           CERTIFICATE OF DESIGNATIONS
                                       OF
                      SERIES A CONVERTIBLE PREFERRED STOCK

        (Pursuant to Section 151 of the Delaware General Corporation Law)

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

          Wolverine Tube, Inc., a Delaware corporation (the  "Corporation"),  in
accordance  with  the  provisions  of  Section  103  of  the  Delaware   General
Corporation  Law (the "DGCL")  does hereby  certify  that,  in  accordance  with
Section  141(c) of the DGCL,  the following  resolution  was duly adopted by the
Board of Directors of the Corporation as of January 31, 2007:

          RESOLVED, that the Board of Directors (the "Board") of the Corporation
pursuant to authority  expressly  vested in it by the provisions of the Restated
Certificate of Incorporation of the Corporation,  hereby authorizes the issuance
of a series of preferred stock designated as the Series A Convertible  Preferred
Stock,  par value  $1.00 per share,  of the  Corporation  and  hereby  fixes the
designation,  number of shares,  powers,  preferences,  rights,  qualifications,
limitations and restrictions thereof (in addition to any provisions set forth in
the  Restated   Certificate  of  Incorporation  of  the  Corporation  which  are
applicable to the Preferred Stock of all classes and series) as follows:

                      SERIES A CONVERTIBLE PREFERRED STOCK

          1.  Designation,  Amount and Par Value.  There is hereby  designated a
series of the  Corporation's  preferred stock as Series A Convertible  Preferred
Stock (the "Series A Preferred  Stock"),  and the number of shares so designated
shall be 76,500.  Each share of Series A Preferred  Stock shall have a par value
of $1.00 per share.  The  "Stated  Value"  for each share of Series A  Preferred
Stock shall equal $1,000.00.

          2.  Definitions.  In addition to the terms  defined  elsewhere in this
Certificate of Designations the following terms have the meanings indicated:

                    "Bankruptcy  Event" means any of the following  events:  (a)
          the Corporation or a Subsidiary of the Corporation commences a case or
          other  proceeding under any bankruptcy,  reorganization,  arrangement,
          adjustment  of debt,  relief of debtors,  dissolution,  insolvency  or
          liquidation  or  similar  law  of  any  jurisdiction  relating  to the
          Corporation or any Subsidiary thereof;  (b) there is commenced against
          the  Corporation or any Subsidiary any such case or proceeding that is
          not dismissed within 60 days after  commencement;  (c) the Corporation
          or any Subsidiary is adjudicated insolvent or bankrupt or any order of
          relief  or other  order  approving  any  such  case or  proceeding  is
          entered; (d) the Corporation or any Subsidiary suffers any appointment
          of any  custodian  or the like for it or any  substantial  part of its
          property  that is not  discharged  or stayed  within 60 days;  (e) the
          Corporation  or any  Subsidiary  makes a  general  assignment  for the
          benefit of creditors; (f) the Corporation or any

<PAGE>

          Subsidiary  fails to pay,  or  states  that it is  unable to pay or is
          unable  to pay,  its  debts  generally  as they  become  due;  (g) the
          Corporation or any Subsidiary  calls a meeting of its creditors with a
          view to arranging a composition,  adjustment or  restructuring  of its
          debts; or (h) the Corporation or any Subsidiary, by any act or failure
          to  act,   expressly   indicates  its  consent  to,   approval  of  or
          acquiescence  in any of the  foregoing or takes any corporate or other
          action for the purpose of effecting any of the foregoing.

                    "Business Day" means any day except Saturday, Sunday and any
          day on which banking  institutions  in New York City are authorized or
          required by law or other governmental action to close.

                    "Cash  End  Availability"   means  all  cash  and  financing
          available to the Corporation  for the payment of dividends,  including
          without limitation resulting from any accounts receivable financing or
          securitization, proceeds from the issuance of Series A Preferred Stock
          and  any  other  capital  stock  or  other  securities  issued  by the
          Corporation for cash.

                    "Commission" means the United States Securities and Exchange
          Commission.

                    "Common  Stock" means the common  stock of the  Corporation,
          par value $0.01 per share,  and any securities  into which such common
          stock may hereafter be reclassified.

                    "Continuing  Director"  means  (i) any  individual  who is a
          member of the Board on the date of execution of the Purchase Agreement
          and (ii) any individual who is appointed to the Board or nominated for
          election to the Board by other Continuing Directors.

                    "Conversion  Price"  shall equal $[ ](1),  as  adjusted  for
          stock  dividends,  stock splits,  stock  combinations or other similar
          events and as adjusted  pursuant to the terms of this  Certificate  of
          Designations.

                    "Equity  Conditions"  means,  with  respect to all shares of
          Common Stock issuable upon conversion of the Series A Preferred Stock,
          that each of the following conditions is satisfied:  (i) the number of
          authorized  but unissued  and  otherwise  unreserved  shares of Common
          Stock is sufficient for such issuance;  and (ii) such shares of Common
          Stock are  registered for resale by the Holders and may be sold by the
          Holders  pursuant to an  effective  registration  statement  under the
          Securities  Act  or  all  such  shares  may  be  sold  without  volume
          restrictions pursuant to Rule 144(k) under the Securities Act.

                    "Exchange Act" means the Securities Exchange Act of 1934, as
          amended.

                    "Excluded  Stock" means (a) any Common Stock or Common Share
          Equivalents,  restricted  stock,  stock options or stock  appreciation
          rights  issued or issuable to employees,  consultants  or directors of
          the Corporation  pursuant to a stock option plan, stock purchase plan,
          stock bonus plan, deferred compensation plan, employee benefit plan or
          management grant ("Incentives"), in each case as in effect on the date
          of the Purchase  Agreement or as approved by the Board  (including the
          Series A  Directors)  after the date of the  Purchase  Agreement,  and
          shares of Common Stock issued or issuable  upon the exercise of any of
          the

------------------------
(1) Equal to the lower of (x) $1.10 and (y) the arithmetic average of the
closing prices of the Common Stock on the Trading Market for the ten (10)
consecutive Trading Days immediately following the public announcement of the
transaction pursuant to which the Series A Preferred Stock will be issued.

                                       2
<PAGE>

          foregoing  Incentives and (b) Common Stock or Common Share Equivalents
          issued or issuable in connection with a bona fide business acquisition
          by the Corporation of another  company or entity,  not principally for
          the purpose of acquiring cash.

                    "Fundamental Transaction" means the occurrence of any of the
          following  in  one  or  a  series  of  related  transactions:  (i)  an
          acquisition after the date of the Purchase  Agreement by an individual
          or legal entity or "group" (as described in Rule 13d-5(b)(1) under the
          Exchange  Act) of fifty percent or more of the voting rights or voting
          equity interests in the Corporation;  (ii) Continuing  Directors cease
          to constitute more than one-half of the members of the Board;  (iii) a
          merger or consolidation of the Corporation or any Subsidiary or a sale
          of all or  substantially  all of the assets of the  Corporation or any
          Subsidiary  in  one  or  a  series  of  related  transactions,  unless
          following such transaction or series of  transactions,  the holders of
          the  Corporation's  securities  prior to the  first  such  transaction
          continue  to hold at least  one-half  of the  voting  rights or voting
          equity  interests  in of the  surviving  entity  or  acquirer  of such
          assets; (iv) a  recapitalization,  reorganization or other transaction
          involving  the  Corporation  or any  Subsidiary  that  constitutes  or
          results in a transfer of more than  one-half  of the voting  rights or
          voting equity  interests in the  Corporation;  (v)  consummation  of a
          "Rule 13e-3  transaction"  as defined in Rule 13e-3 under the Exchange
          Act with respect to the Corporation; (vi) any tender offer or exchange
          offer  (whether by the  Corporation  or another  Person) is  completed
          pursuant to which  holders of Common Stock are  permitted to tender or
          exchange their shares for other securities,  cash or property and as a
          result of which the Persons who own Common Stock  immediately prior to
          the  launch  of such  tender  offer  or  exchange  offer  do not own a
          majority of the outstanding equity interests of the Company,  directly
          or indirectly,  immediately after the consummation thereof;  (vii) the
          Corporation  effects any  reclassification  of the Common Stock or any
          compulsory  share  exchange  pursuant  to which  the  Common  Stock is
          effectively converted into or exchanged for other securities,  cash or
          property;  or (viii) the execution by the  Corporation of an agreement
          directly or indirectly providing for any of the foregoing events.

                    "Holder" means any holder of Series A Preferred Stock.

                    "Indebtedness"  of any  Person  means  (a) all  indebtedness
          representing  money  borrowed which is created,  assumed,  incurred or
          guaranteed  in any manner by such  Person or for which such  Person is
          responsible  or liable  (whether by  guarantee  of such  indebtedness,
          agreement to purchase indebtedness of, or to supply funds to or invest
          in, others or otherwise),  (b) any direct or contingent obligations of
          such Person arising under any letter of credit (including  standby and
          commercial),  bankers acceptances,  bank guaranties,  surety bonds and
          similar instruments,  and (c) all indebtedness pursuant to clauses (a)
          and (b)  above of  another  entity  secured  by any lien  existing  on
          property or assets owned by such Person.

                    "Involuntary   Change  of  Control"  means  any  Fundamental
          Transaction not approved by at least five (5) members of the Board.

                    "Junior  Securities"  means the  Common  Stock and all other
          equity or equity equivalent securities of the Corporation.

                    "Liquidation  Event" means any  liquidation,  dissolution or
          winding up of the Corporation, either voluntary or involuntary.

                                       3
<PAGE>

                    "Original  Issue Date" means the date of the first  issuance
          of any  shares of the  Series A  Preferred  Stock,  regardless  of the
          number of  transfers  of any  particular  shares of Series A Preferred
          Stock and regardless of the number of certificates  that may be issued
          to evidence shares of Series A Preferred Stock.

                    "Person" means any individual or  corporation,  partnership,
          trust,  incorporated  or  unincorporated  association,  joint venture,
          limited  liability  company,  joint stock  company,  government (or an
          agency or subdivision thereof) or other entity of any kind.

                    "Purchase  Agreement"  means the  Preferred  Stock  Purchase
          Agreement, dated as of January 31, 2007, among the Corporation and the
          purchasers  of the Series A Preferred  Stock,  as amended from time to
          time.

                    "Registration   Rights  Agreement"  means  the  Registration
          Rights  Agreement,  dated  as of the date of the  Purchase  Agreement,
          among the Corporation and the Holders.

                    "Rule  144"  means Rule 144  promulgated  by the  Commission
          pursuant to the Securities  Act, as such Rule may be amended from time
          to time,  or any similar rule or regulation  hereafter  adopted by the
          Commission having substantially the same effect as such Rule.

                    "Securities  Act"  means  the  Securities  Act of  1933,  as
          amended.

                    "Subsidiary"   means  any  significant   subsidiary  of  the
          Corporation as defined in Rule 1-02(w) of Regulation  S-X  promulgated
          by the Commission.

                    "Trading Day" means (a) any day on which the Common Stock is
          listed or quoted and traded on a Trading Market,  or (b) if the Common
          Stock is not then  listed or quoted  and  traded on a Trading  Market,
          then any Business Day.

                    "Trading  Market"  means the New York Stock  Exchange or, at
          any time the Common  Stock is not  listed for  trading on the New York
          Stock Exchange, any other national securities exchange,  other trading
          market or  quotation  system,  if the Common  Stock is then  listed or
          quoted on such exchange, market or system.

                    "Transaction  Documents" means the Purchase  Agreement,  the
          Registration  Rights  Agreement,  this Certificate of Designations and
          any other documents or agreements  executed or delivered in connection
          with the transactions  contemplated  under the Purchase  Agreement and
          thereunder.

                    "Underlying   Shares"  means  the  shares  of  Common  Stock
          issuable upon conversion of the shares of Series A Preferred Stock and
          in  satisfaction  of any other  obligation of the Corporation to issue
          shares of Common Stock pursuant to the Transaction Documents.

          3. Registration of Issuance and Ownership of Series A Preferred Stock.
The  Corporation  shall  register the  issuance  and  ownership of shares of the
Series A Preferred  Stock,  upon records to be maintained by the Corporation for
that  purpose  (the  "Series A Preferred  Stock  Register"),  in the name of the
record Holders thereof from time to time. The Corporation may deem and treat the
registered  Holder of shares of Series A Preferred  Stock as the absolute  owner
thereof for

                                       4
<PAGE>

the purpose of any conversion hereof or any distribution to such Holder, and for
all other purposes, absent actual notice to the contrary.

          4.  Registration  of Transfers.  The  Corporation  shall  register the
transfer  of any shares of Series A  Preferred  Stock in the Series A  Preferred
Stock  Register,  upon surrender of  certificates  evidencing such shares to the
Corporation  at its address  specified  herein.  Upon any such  registration  or
transfer, a new certificate evidencing the shares of Series A Preferred Stock so
transferred  shall be issued to the transferee and a new certificate  evidencing
the remaining portion of the shares not so transferred,  if any, shall be issued
to the transferring Holder.

          5. Dividends.

               (a) Each Holder shall be entitled to receive, and the Corporation
shall pay, cumulative  dividends on the Series A Preferred Stock at the rate per
share (as a percentage of the Stated Value per share,  plus any  accumulated and
unpaid  dividends per share) of 8.00% per annum (subject to adjustment  pursuant
to Sections 5(b) and 5(g) below),  compounded quarterly and payable quarterly in
arrears commencing on April 30, 2007 and thereafter on each July 31, October 31,
January 31 and April 30, except if such date is not a Trading Day, in which case
such  dividend  shall be payable on the next  succeeding  Trading  Day (each,  a
"Dividend  Payment  Date").  Dividends on the Series A Preferred  Stock shall be
calculated on the basis of a 360-day year that has been divided into four 90-day
quarters,  shall accrue  daily  commencing  on the Original  Issue Date for such
Series A Preferred  Stock,  and shall be deemed to accrue from such date whether
or not earned or declared and whether or not there are profits, surplus or other
funds of the Corporation legally available for the payment of dividends.

               (b) Subject to the  conditions  and  limitations  in Section 5(c)
below,  the  Corporation may elect, by written notice to the holders of Series A
Preferred  Stock,  to defer the payment of  dividends  otherwise  payable on any
Dividend Payment Date. In the event of any dividend deferral,  or if any accrued
dividends remain unpaid, the amount of the dividends payable per share of Series
A Preferred  Stock on such Dividend  Payment Date on which the  dividends  would
otherwise  have been paid, or any  subsequent  Dividend  Payment Date until such
deferred  dividends  have been  paid,  shall be: (i)  determined  based upon the
dividends  on the  Series  A  Preferred  Stock  having  accumulated  during  the
preceding  quarter  (or other  measurement  period)  at the rate per share (as a
percentage of the Stated Value per share plus all previously  accrued and unpaid
dividends on such share) of (x) 10.00% per annum for any  Dividend  Payment Date
occurring  prior to January 31, 2012 (or, if such date is not a Trading Day, the
next succeeding  Trading Day), and (y) 12.00% per annum for any Dividend Payment
Date occurring subsequent to January 31, 2012 (or, if such date is not a Trading
Day, the next succeeding  Trading Day); and (ii) compounded as of such quarterly
Dividend Payment Date and remain accrued and unpaid until the subsequent payment
thereof by the Corporation.

               (c)  The  Corporation  may  elect  to  defer a  dividend  payment
otherwise  payable on a Dividend Payment Date only if and to the extent the Cash
End Availability is less than the amount of the dividend payable on the Dividend
Payment  Date,  as  determined in good faith by a majority of the members of the
Board other than any director affiliated with or nominated by any Holder.

               (d) On each  Dividend  Payment  Date, to the extent that there is
Cash End Availability,  the Corporation shall pay, pro rata among the holders of
Series A Preferred Stock, any accrued and unpaid  dividends,  with the dividends
that have remained unpaid longest being paid first,

                                       5
<PAGE>

until all accrued and unpaid dividends have been paid. In addition,  all accrued
and unpaid  dividends  on each share of Series A  Preferred  Stock shall be paid
upon the earlier to occur of (i) a Liquidation Event, or (ii) conversion of such
share of Series A Preferred Stock.

               (e) So long  as any  shares  of  Series  A  Preferred  Stock  are
outstanding:  (i) neither the Corporation nor any Subsidiary shall,  directly or
indirectly,  redeem,  purchase or otherwise acquire any Junior Securities or set
aside any monies for such a redemption,  purchase or other acquisition, and (ii)
the Corporation  shall not pay or declare any dividend or make any  distribution
on any Junior  Securities,  except pro rata stock  dividends on the Common Stock
payable in  additional  shares of Common Stock and dividends due and paid in the
ordinary course on the Series A Preferred Stock.

               (f) No dividends shall be paid on the Series A Preferred Stock as
a separate class other than the dividends provided in this Section 5.

               (g) Notwithstanding  anything to the contrary,  in the event that
at any time after the 120th day from the date of the first  issuance  of a share
of Series A Preferred Stock, the Equity  Conditions are not satisfied (or waived
in writing by the applicable  Holder) on each Trading Day within a given quarter
preceding a Dividend  Payment Date with respect to all of the Underlying  Shares
then issuable  upon  conversion  in full of all  outstanding  Series A Preferred
Stock,  the dividend rate at that Dividend  Payment Date shall be deemed to have
been  increased  by 50 basis  points  for the  dividend  period  preceding  that
quarter, up to a maximum aggregate increase pursuant to this Section 5(g) of 200
basis points.  Following such  adjustment(s) and upon satisfaction of the Equity
Conditions (or waiver in writing by the  applicable  Holder) with respect to all
of  the  Underlying  Shares  then  issuable  upon  conversion  in  full  of  all
outstanding Series A Preferred Stock, the dividend rate shall be returned to the
rate in effect  before  giving  effect to  adjustments  under this  Section 5(g)
(until any subsequent failure).

         6. Liquidation.

               (a) Upon the  occurrence of any  Liquidation  Event,  the Holders
shall be entitled to receive, prior and in preference to any distribution of any
of the assets or funds of the Corporation to the holders of Junior Securities by
reason of their  ownership  thereof,  an amount  per share in cash  equal to the
greater of (i) the Stated Value for each share of Series A Preferred  Stock then
held by them (as adjusted for any stock split, stock dividend, stock combination
or other  similar  transactions  with respect to the Series A Preferred  Stock),
plus all accrued but unpaid dividends on such Series A Preferred Stock as of the
date of such  event,  and (ii) the  amount  per share that would be payable to a
Holder  (including  without  limitation  the  payment of all  accrued but unpaid
dividends)  had all  shares  of  Series A  Preferred  Stock  been  converted  to
Underlying  Shares  immediately  prior to such Liquidation  Event (the "Series A
Preferred  Stock  Liquidation  Preference").   If,  upon  the  occurrence  of  a
Liquidation Event, the assets and funds thus distributed among the Holders shall
be  insufficient  to permit  the  payment to such  Holders of the full  Series A
Preferred Stock Liquidation Preference,  then the entire assets and funds of the
Corporation  legally  available for  distribution  shall be distributed  ratably
among the  Holders in  proportion  to the  aggregate  Series A  Preferred  Stock
Liquidation Preference that would otherwise be payable to each of such Holders.

               (b)  Upon  the  occurrence  of  a  Liquidation  Event,  following
completion of the distributions  required by the first sentence of Section 6(a),
if assets or surplus funds remain in the

                                       6
<PAGE>

Corporation,  the holders of the Common Stock and other Junior  Securities shall
share in all remaining assets of the Corporation.

               (c)  The   Corporation   shall  provide  written  notice  of  any
Liquidation Event or Fundamental Transaction to each record Holder not less than
45 days prior to the payment date or  effective  date  thereof.  Unless a Holder
otherwise notifies the Corporation,  which notice must be delivered prior to the
effective  date of a  Fundamental  Transaction  (or,  if later,  within five (5)
Trading Days after such Holder receives notice of such  Fundamental  Transaction
from  the  Corporation),  such  Fundamental  Transaction  will be  treated  as a
Liquidation  Event with  respect to such Holder for the purposes of this Section
6.

               (d) In the event  that,  immediately  prior to the  closing  of a
Liquidation Event that is not a Fundamental Transaction,  the cash distributions
required by Section 6(a) have not been made,  the  Corporation  shall  forthwith
either:  (i) cause  such  closing to be  postponed  until such time as such cash
distributions  have been made; or (ii) cancel such  transaction,  in which event
the rights, preferences and privileges of the Holders shall revert to and be the
same as such rights,  preferences and privileges  existing  immediately prior to
the date of the first notice by the Corporation required under Section 6(c).

               (e) For so long as  25,000  shares of  Series A  Preferred  Stock
remain  outstanding,  in the event that,  immediately  prior to the closing of a
Liquidation  Event that is a  Fundamental  Transaction,  the cash  distributions
required by Section 6(a) have not been made,  the  Corporation  shall  forthwith
either:  (i) cause  such  closing to be  postponed  until such time as such cash
distributions  have been made; or (ii) cancel such  transaction,  in which event
the rights, preferences and privileges of the Holders shall revert to and be the
same as such rights,  preferences and privileges  existing  immediately prior to
the date of the first notice by the Corporation required under Section 6(c).

          7.  Conversion.  At the option of any  Holder,  any shares of Series A
Preferred  Stock held by that Holder may be converted into Common Stock based on
the Conversion  Price then in effect for the Series A Preferred  Stock. A Holder
may convert  shares of Series A Preferred  Stock into Common  Stock  pursuant to
this  paragraph at any time and from time to time after the Original Issue Date,
by delivering to the Corporation a conversion notice (the "Conversion  Notice"),
in the form  attached  hereto as Exhibit  A,  appropriately  completed  and duly
signed,  and the date any such Conversion Notice is delivered to the Corporation
(as determined in accordance with the notice provisions hereof) is a "Conversion
Date."

          8. Mechanics of Conversion.

               (a) The number of Underlying  Shares issuable upon any conversion
of shares of Series A Preferred  Stock hereunder shall equal the Stated Value of
such  shares  of  Series  A  Preferred  Stock  to be  converted  divided  by the
Conversion Price on the Conversion Date.

               (b) Upon  conversion  of any shares of Series A Preferred  Stock,
the  Corporation  shall  promptly  (but in no event later than three (3) Trading
Days  after the  Conversion  Date)  issue or cause to be issued  and cause to be
delivered  to the Holder,  or upon the  written  order of the Holder and in such
name or names as the Holder may designate, a certificate or certificates for the
Underlying  Shares issuable upon such  conversion,  free of restrictive  legends
unless such Underlying  Shares are still required to bear a restrictive  legend.
The  Holder,  or any Person so  designated  by the

                                       7
<PAGE>

Holder to receive  Underlying  Shares,  shall be deemed to have become holder of
record of such  Underlying  Shares as of the Conversion  Date. If the shares are
then not required to bear a restrictive  legend,  the  Corporation  shall,  upon
request  of the  Holder,  deliver  Underlying  Shares  hereunder  electronically
through  The  Depository  Trust  Corporation  or  another  established  clearing
corporation performing similar functions,  and shall credit the number of shares
of Common  Stock to which the Holder  shall be entitled  to the  Holder's or its
designee's  balance account with The Depository  Trust  Corporation  through its
Deposit Withdrawal Agent Commission System.

               (c) A Holder shall deliver the original certificate(s) evidencing
the  Series  A  Preferred  Stock  being  converted  (or  an  affidavit  of  lost
certificate  and any  indemnity or bond required by the  Corporation's  transfer
agent) together with a duly completed  Conversion Notice in proper form in order
to effect a conversion  of such Series A Preferred  Stock.  Upon  surrender of a
certificate  following one or more partial  conversions,  the Corporation  shall
promptly  deliver to the Holder a new  certificate  representing  the  remaining
shares of Series A Preferred Stock.

               (d) The Corporation's obligations to issue and deliver Underlying
Shares upon  conversion of Series A Preferred Stock in accordance with the terms
hereof are absolute and unconditional, irrespective of any action or inaction by
any  Holder to enforce  the same,  any  waiver or  consent  with  respect to any
provision hereof,  the recovery of any judgment against any Person or any action
to enforce the same,  or any setoff,  counterclaim,  recoupment,  limitation  or
termination,  or any breach or alleged  breach by any Holder or any other Person
of any obligation to the  Corporation  or any violation or alleged  violation of
law  by  any  Holder  or  any  other  Person,  and  irrespective  of  any  other
circumstance  which might  otherwise limit such obligation of the Corporation to
any Holder in connection with the issuance of such Underlying Shares.

          9. Redemption.

               (a) On the  earlier  to occur  of (x) an  Involuntary  Change  of
Control and (y) January 31, 2017 (the date of such earlier event, the "Mandatory
Redemption  Date"),  the  Corporation  shall redeem all of the then  outstanding
Series A Preferred  Stock at a price  equal to 100% of the Stated  Value of such
shares of Series A  Preferred  Stock,  plus all  accrued  but  unpaid  dividends
thereon  to  the  date  of  payment,  in  cash  (the  "Redemption  Price").  The
Corporation shall provide each Holder not less than 60 days prior written notice
of the Mandatory  Redemption  Date. The terms of this section may be waived by a
Holder  with  respect  to the  shares of Series A  Preferred  Stock held by that
Holder in the event of a  Mandatory  Redemption  Date in  respect  of clause (x)
above but not in respect of clause (y).

               (b) If the funds of the Corporation  legally  available to redeem
shares  of  Series  A  Preferred  Stock  on the  Mandatory  Redemption  Date are
insufficient  to redeem the total number of such shares  required to be redeemed
on such date or the Corporation is otherwise prohibited from redeeming the total
number of such shares,  the Corporation  shall (i) take any action  necessary or
appropriate, to the extent reasonably within its control, to remove promptly any
impediments  to its  ability  to redeem  the total  number of shares of Series A
Preferred Stock required to be so redeemed,  including to the extent permissible
under applicable law,  reducing the stated capital of the Corporation or causing
a revaluation of the assets of the Corporation  under Section 154 of the DGCL to
create  sufficient  surplus to make such redemption,  and (ii) in any event, use
any funds legally available to redeem the maximum possible number of such shares
from the holders of such shares to be redeemed in proportion  to the  respective
number of such shares that otherwise would have been redeemed if all such shares
had been redeemed in full. At any time thereafter  when additional  funds

                                       8
<PAGE>

of the  Corporation  are  legally  available  to redeem  such shares of Series A
Preferred Stock, the Corporation  shall immediately use such funds to redeem the
balance of the shares that the  Corporation  becomes  obligated to redeem on the
Mandatory  Redemption  Date (but that it has not yet redeemed) at the Redemption
Price.  In the event that  shares of Series A  Preferred  Stock  required  to be
redeemed  are not redeemed  and  continue to be  outstanding,  such shares shall
continue to be entitled to dividends  thereon as provided in Section 5 until the
date on which the Corporation actually redeems such shares.

               (c) Until the  aggregate  Redemption  Price has been paid for all
shares of Series A Preferred  Stock being redeemed:  (A) no dividend  whatsoever
shall be paid or declared,  and no  distribution  shall be made,  on any capital
stock of the  Corporation  (other than dividends  payable solely in Common Stock
and the  continued  accrual of  dividends  as  provided in this  Certificate  of
Designations); and (B) no shares of capital stock of the Corporation (other than
the  Series A  Preferred  Stock in  accordance  with  this  Section  9) shall be
purchased,  redeemed or acquired by the  Corporation and no monies shall be paid
into or set  aside  or made  available  for a  sinking  fund  for the  purchase,
redemption or acquisition thereof.

               (d) If any shares of Series A Preferred Stock are not redeemed on
the Mandatory  Redemption Date for any reason,  all such unredeemed shares shall
remain  outstanding  and  entitled  to all the rights and  preferences  provided
herein,  and the Corporation  shall pay interest on the Redemption Price and any
dividend  accruing  after  the  Mandatory  Redemption  Date  applicable  to such
unredeemed shares at an aggregate per annum rate equal to eighteen percent (18%)
(increased by 1% at the end of each three (3) month period  thereafter until the
Redemption Price, and any interest thereon, is paid in full), with such interest
to accrue daily in arrears and to be compounded quarterly;  provided, that in no
event shall such interest  exceed the maximum  permitted  rate of interest under
applicable law, and provided further that the Corporation shall make all filings
necessary  to raise such rate to the maximum  permitted  rate of interest  under
applicable law (the "Maximum  Permitted Rate"). In the event that fulfillment of
any  provision  hereof  results in such rate of interest  being in excess of the
Maximum  Permitted  Rate,  the amount of interest  required to be paid hereunder
shall  automatically  be reduced to eliminate  such excess;  provided,  that any
subsequent  increase  in the  Maximum  Permitted  Rate  shall  be  retroactively
effective to the applicable Mandatory Redemption Date to the extent permitted by
law.

               (e) If any shares of Series A Preferred Stock are not redeemed on
the  Mandatory   Redemption  Date  for  any  reason,  the  number  of  directors
constituting the Board shall automatically be increased by a number equal to the
number of directors then  constituting the Board,  plus one (1), and the holders
of outstanding shares of Series A Preferred Stock shall be entitled, voting as a
single  class (to the  exclusion  of the  holders  of all other  securities  and
classes  of  capital  stock  of  the  Corporation),  to  elect  such  additional
directors.   For  the  avoidance  of  doubt,  such  additional  directors  shall
constitute  a majority  of the  Board.  The period  beginning  on the  Mandatory
Redemption  Date and  ending  on the date  upon  which  all  shares  of Series A
Preferred Stock required to be redeemed are so redeemed is referred to herein as
the "Voting Period." As soon as practicable after the commencement of the Voting
Period,  the Corporation  shall call a special meeting of the Holders to be held
not more than  twenty  (20) days  after  the date of  mailing  of notice of such
meeting. If the Corporation fails to send a notice, any such Holder may call the
meeting on like notice.  The record date for determining the Holders entitled to
notice of and to vote at such special  meeting shall be the close of business on
the fifth (5th)  business day  preceding the day on which such notice is mailed.
At any such special  meeting and at each meeting of Holders held during a Voting
Period at which  directors  are to be elected (or with  respect to any action by
written  consent in lieu of a meeting of

                                       9
<PAGE>

stockholders),  such Holders, voting together as a single class to the exclusion
of the  holders of all other  securities  and  classes  of capital  stock of the
Corporation,  shall be entitled to elect the number of directors  prescribed  in
this Section 9(e), and each share of Series A Preferred  Stock shall be entitled
to one (1) vote  (whether  voted in person by the holder  thereof or by proxy or
pursuant to a stockholders' consent). The terms of office of all persons who are
incumbent  directors of the  Corporation at the time of a special meeting of the
Holders to elect such additional  directors shall continue,  notwithstanding the
election  at such  meeting of the  additional  directors  that such  Holders are
entitled to elect,  and the  additional  directors  so elected by such  Holders,
together  with such  incumbent  directors,  shall  constitute  the duly  elected
directors of the  Corporation.  Simultaneously  with the termination of a Voting
Period,  the terms of office of the additional  directors elected by the Holders
under  this  Section  9(e)  shall  terminate,  such  incumbent  directors  shall
constitute  the  directors of the  Corporation  and the rights of the Holders to
elect additional directors pursuant to this Section 9(e) shall cease.

          10. Call Right.

               (a) Subject to the provisions of this Section 10, the Corporation
shall have the right (the "Call Right") at any time on or after January 31, 2014
to  repurchase  all (but not less  than all) of the then  outstanding  shares of
Series  A  Preferred  Stock  at a  price  equal  to the  Redemption  Price.  The
Corporation  must deliver a written  notice of the exercise of the Call Right to
each  Holder at least 30 days  prior  the date on which  the  shares of Series A
Preferred Stock are to be repurchased (the "Call Repurchase Date"), which notice
shall state the Call  Repurchase  Date and the Redemption  Price.  Not less than
five (5) Trading Days prior to the Call Repurchase  Date, the Corporation  shall
deposit the entire  Redemption  Price for all shares of Series A Preferred Stock
into an account  with a  commercial  bank having not less than  $500,000,000  in
assets,  such  funds  to be held  exclusively  for the  purpose  of  paying  the
Redemption Price to the Holders. Upon receipt of payment of the Redemption Price
by the Holders, each such Holder will deliver the certificate(s)  evidencing the
Series A  Preferred  Stock  redeemed by the  Corporation,  unless such Holder is
awaiting  receipt  of  a  new  certificate   evidencing  such  shares  from  the
Corporation pursuant to another provision hereof. At any time on or prior to the
Call Repurchase  Date, a Holder may convert any or all of the shares of Series A
Preferred Stock held by it, and the Corporation shall honor any such conversions
in accordance with the terms hereof.

               (b) Notwithstanding  Section 10(a) above, the Corporation may not
exercise its Call Right or redeem shares of Series A Preferred Stock on the Call
Repurchase  Date  pursuant to this  Section 10, and any notice  delivered  under
Section  10(a)  will be  void,  unless  (A) from the  period  commencing  on the
Corporation's delivery of the irrevocable written notice electing an exercise of
the Call Right  through the Call  Repurchase  Date,  the Equity  Conditions  are
satisfied  (or waived in writing by the  applicable  Holder) on each Trading Day
with respect to all of the  Underlying  Shares then issuable upon  conversion in
full of all  outstanding  Series A Preferred  Stock and (B) the  exercise of the
Call Right was approved by a majority of the Board other than any other director
who is nominated by or an affiliate of a Holder.

          11. Voting Rights; Board of Directors.

               (a)  Except  as  otherwise  provided  herein  or as  required  by
applicable  law,  the Holders  shall be entitled to vote on all matters on which
holders of Common Stock are entitled to vote, including, without limitation, the
election of  directors.  For such  purposes,  each Holder shall be entitled to a
number of votes in respect of the shares of Series A Preferred Stock owned by it
equal to

                                       10
<PAGE>

the  number of  shares  of  Common  Stock  into  which  such  shares of Series A
Preferred  Stock are  convertible  by the  Holders as of the record date for the
determination of stockholders  entitled to vote on such matter,  or if no record
date is  established,  at the date such vote is taken or any written  consent of
stockholders is solicited.  Except as otherwise provided herein, in any relevant
agreement  or as  required  by  applicable  law,  the Holders and the holders of
Common Stock shall vote together as a single class on all matters submitted to a
vote or consent of stockholders.

               (b) Notwithstanding  anything to the contrary,  for so long as at
least  25,000  shares  of  Series A  Preferred  Stock  remain  outstanding,  the
Corporation shall not, without the affirmative vote of the holders of a majority
of the shares of Series A Preferred Stock then outstanding:

                              (i)  amend  or  propose  to  amend  the   Restated
               Certificate  of  Incorporation  or  by-laws  or other  comparable
               governing   instruments   of  the   Corporation  or  any  of  the
               Subsidiaries,  or this  Certificate of  Designations  (whether by
               amendment, amalgamation, merger or otherwise);

                              (ii) issue or authorize the issuance of any equity
               of the Corporation  with rights on liquidation.  as to dividends,
               on  redemption,  as to voting,  or  otherwise,  senior to or pari
               passu with the Series A Preferred  Stock,  or  authorize or issue
               any shares of Series A Preferred Stock;

                              (iii) dissolve or liquidate the Corporation;

                              (iv) purchase,  redeem (other than pursuant to any
               equity plan outstanding as of the date of the Purchase  Agreement
               giving the  Corporation  the right to  repurchase  stock or other
               securities of the  Corporation at cost upon the termination of an
               employee's or director's  services and approved by the Continuing
               Directors)  or set aside any sums for the purchase or  redemption
               of, or declare or pay any dividend  (including a dividend payable
               in securities of the Corporation) or declare or pay any dividends
               or make any distributions of cash,  property or securities of the
               Corporation  in respect of any Common Stock or any other class of
               Junior Securities or any other Common Share Equivalents;

                              (v)  acquire  any other  corporation  or  business
               concern,  whether by acquisition of assets, capital stock, merger
               or  otherwise,  and whether by payment of cash,  the  issuance of
               capital  stock or  otherwise,  other than  acquisitions  of up to
               $5,000,000 per annum, not exceeding $15,000,000 in the aggregate;

                              (vi) enter into (A) a merger or  consolidation  of
               the  Corporation  with or into another  entity  (with  respect to
               which less than a majority of the outstanding voting power of the
               surviving or  consolidated  company  immediately  following  such
               event is held by Persons who were stockholders of the Corporation
               immediately  prior to such  event),  (B) the  sale,  disposition,
               license or  transfer,  directly or  indirectly,  of any assets or
               property with a value equal to or greater than $1,000,000 or that
               are otherwise material to the Corporation or its business;

                              (vii)  be  acquired  by any  Person  (or  group of
               affiliated  or associated  Persons) of beneficial  ownership of a
               majority  of  the  equity  of  the  Corporation  (whether  or not
               newly-issued  shares)  in a single  transaction  or a  series  of
               related

                                       11
<PAGE>

transactions,  redeem or repurchase shares representing a majority of the voting
power of the outstanding shares of capital stock of the Corporation,  or undergo
any other  change of control of 50% or more of the  outstanding  voting power of
the Corporation;

                              (viii) fail to maintain its  corporate  existence,
               or change the nature of the Corporation's  principal  business to
               any business which is fundamentally  and materially  distinct and
               separate   from  the   business   currently   conducted   by  the
               Corporation;

                              (ix) create,  incur, assume or suffer to exist any
               Indebtedness,  other than Indebtedness outstanding as of the date
               hereof or any extensions,  refinancing or renewals thereof (which
               extensions,   refinancings  or  renewals,  other  than  any  such
               extension refinancing or renewal specifically contemplated in the
               Purchase  Agreement,  shall be on terms no less  favorable to the
               Company than the current terms of such  Indebtedness),  in excess
               of   $15,000,000   in  the   aggregate,   other  than  (A)  trade
               Indebtedness  incurred  to finance  the  purchase  of  equipment,
               components and other similar  property and operating  assets,  in
               each case,  in the ordinary  course of business  consistent  with
               past practice,  and any extensions,  refinancings and renewals of
               any of the foregoing; provided that such extensions, refinancings
               or  renewals  do not or will not impose  more  burdensome  terms,
               conditions or obligations  upon the Corporation or any Subsidiary
               or increase the commitments or loan amounts  thereunder,  and (B)
               inter-company   Indebtedness  between  the  Corporation  and  any
               wholly-owned  Subsidiary  incurred  in  the  ordinary  course  of
               business and consistent with past practice; or

                              (x)  enter  into  any  agreement  to do any of the
               foregoing or cause or permit any  Subsidiary  of the  Corporation
               directly or indirectly  to take any actions  described in clauses
               (i) through (ix) above.

               (c) The holders of outstanding shares of Series A Preferred Stock
shall be entitled to vote in the election of all  directors  of the  Corporation
together  with  holders  of all other  shares of the  Corporation's  outstanding
capital  stock  entitled to vote thereon,  voting as a single  class,  with each
outstanding  share of Series A Preferred  Stock  entitled to the number of votes
specified in Section 11(a).

               (d) Notwithstanding  anything herein to the contrary, for so long
as any of the Corporation's 10.5% Senior Notes due 2009 remain  outstanding,  no
Holder shall have or may exercise voting rights in respect of a number of shares
of Common  Stock  issuable  upon  conversion  of the Series A  Preferred  Stock,
together with any other shares of Common Stock as to which such Holder, together
with any other Person with whom such Holder  would be  considered a "person" (as
defined in Section  13(d) and 14(d) under the Exchange  Act) in relation to such
Common Stock or Series A Preferred Stock, is the direct or indirect  "beneficial
owner"  (as  defined  in Rules  13d-3 and  13d-5  under  the  Exchange  Act (and
including  all shares of Common Stock that such Holder and any such other Person
has the right to acquire,  whether such right is exercisable immediately or only
after the passage of time)),  directly or indirectly  representing more than 49%
of the then outstanding Common Stock.

                                       12
<PAGE>

          12. Charges,  Taxes and Expenses.  Issuance of certificates for shares
of Series A Preferred  Stock and for  Underlying  Shares issued on conversion of
(or otherwise in respect of) the Series A Preferred  Stock shall be made without
charge to the Holders for any issue tax,  withholding tax, transfer agent fee or
other incidental tax or expense in respect of the issuance of such certificates,
all of which taxes and  expenses  shall be paid by the  Corporation.  The Holder
shall be responsible for all transfer tax and other tax liability that may arise
as a result of holding or transferring the Series A Preferred Stock or receiving
Underlying Shares in respect of the Series A Preferred Stock.

          13. Replacement  Certificates.  If any certificate evidencing Series A
Preferred Stock or Underlying Shares is mutilated, lost, stolen or destroyed, or
a Holder fails to deliver such  certificate as may otherwise be provided herein,
the Corporation  shall issue or cause to be issued in exchange and  substitution
for and  upon  cancellation  thereof,  or in lieu of and  substitution  for such
certificate,  a new  certificate,  but only upon receipt of evidence  reasonably
satisfactory  to the  Corporation of such loss,  theft or  destruction  (in such
case) and, in each case,  customary  and  reasonable  indemnity,  if  requested.
Applicants for a new certificate under such circumstances shall also comply with
such other  reasonable  regulations and procedures and pay such other reasonable
third-party costs as the Corporation may prescribe.

          14.  Reservation of Underlying  Shares.  The Corporation shall, at all
times  reserve and keep  available out of the  aggregate of its  authorized  but
unissued  and  otherwise  unreserved  Common  Stock,  solely for the  purpose of
enabling  it to issue  Underlying  Shares as required  hereunder,  the number of
Underlying Shares which are then issuable and deliverable upon the conversion of
(and otherwise in respect of) all  outstanding  Series A Preferred Stock (taking
into account the adjustments of Section 15), free from preemptive  rights or any
other  contingent  purchase  rights of Persons other than the Holders;  provided
that  prior  to  the  date  that  the  Corporation's   Restated  Certificate  of
Incorporation  is amended to increase the number of authorized  shares of Common
Stock to  175,000,000  (or such greater amount as may be authorized by the Board
at the time the  proxy  materials  relating  to the vote on such  amendment  are
prepared for mailing to the Company's stockholders),  the Corporation shall take
the action above to the full extent of all of its then  authorized  but unissued
and otherwise  unreserved shares of Common Stock, other than shares reserved for
issuance  on the date  hereof in  satisfaction  of the  obligations  above.  All
Underlying Shares so issuable and deliverable shall, upon issuance in accordance
with the terms hereof, be duly and validly authorized, issued and fully paid and
nonassessable.  The Corporation  covenants that it shall use its reasonable best
efforts to satisfy each of the Equity Conditions.

          15. Certain Adjustments. The Conversion Price is subject to adjustment
from time to time as set forth in this Section 15.

               (a) Stock Dividends and Splits.  If the Corporation,  at any time
while Series A Preferred Stock is outstanding,  (i) pays a stock dividend on its
Common Stock or otherwise  makes a  distribution  on any class of capital  stock
that is payable in shares of Common Stock, (ii) subdivides outstanding shares of
Common  Stock into a larger  number of  shares,  or (iii)  combines  outstanding
shares of Common Stock into a smaller  number of shares,  then in each such case
the applicable  Conversion  Price shall be multiplied by a fraction of which the
numerator shall be the number of shares of Common Stock outstanding  immediately
before such event and of which the denominator  shall be the number of shares of
Common Stock  outstanding  immediately  after such event.  Any  adjustment  made
pursuant to clause (i) of this  paragraph  shall  become  effective  immediately
after the record date for the determination of stockholders  entitled to receive
such dividend or  distribution,  and

                                       13
<PAGE>

 any  adjustment  pursuant to clause (ii) or
(iii) of this paragraph shall become effective  immediately  after the effective
date of such subdivision or combination.

               (b) Pro Rata Distributions. If the Corporation, at any time while
Series A Preferred  Stock is  outstanding,  distributes or pays as a dividend to
holders of Common  Stock  (other  than the Rights  Offering to be  conducted  as
provided in the Purchase Agreement) (i) evidences of its Indebtedness,  (ii) any
security  (other than a  distribution  of Common Stock  covered by the preceding
paragraph),  (iii) rights or warrants to subscribe for or purchase any security,
or (iv) any other asset  (including,  without  limitation,  cash) (in each case,
"Distributed   Property"),   then  in  each  such  case  the  Corporation  shall
simultaneously  deliver to each Holder the  Distributed  Property that each such
Holder would have been  entitled to receive in respect the number of  Underlying
Shares  then  issuable  pursuant  to Section  8(a) above had the Holder been the
record holder of such  Underlying  Shares  immediately  prior to the  applicable
record or payment date.

               (c) Fundamental  Transactions.  If the  Corporation,  at any time
while  Series  A  Preferred  Stock  is  outstanding,   effects  any  Fundamental
Transaction,  then upon any subsequent  conversion of Series A Preferred  Stock,
each Holder  shall have the right to  receive,  for each  Underlying  Share that
would  have  been  issuable  upon  such  conversion   absent  such   Fundamental
Transaction,  the same kind and amount of  securities,  cash or  property  as it
could have been  entitled to receive  upon the  occurrence  of such  Fundamental
Transaction if it had been,  immediately prior to such Fundamental  Transaction,
the holder of one share of Common  Stock (the  "Alternate  Consideration").  For
purposes of any such conversion, the determination of the Conversion Price shall
be appropriately adjusted to apply to such Alternate  Consideration based on the
amount of  Alternate  Consideration  issuable  in respect of one share of Common
Stock in such Fundamental  Transaction,  and the Corporation shall apportion the
Conversion  Price  among the  Alternate  Consideration  in a  reasonable  manner
reflecting  the relative  value of any  different  components  of the  Alternate
Consideration.  If  holders  of Common  Stock  are  given  any  choice as to the
securities,  cash or property to be received in a Fundamental Transaction,  then
each Holder shall be given the same choice as to the Alternate  Consideration it
receives  upon  any  conversion  of  Series A  Preferred  Stock  following  such
Fundamental  Transaction.  To the extent  necessary to effectuate  the foregoing
provisions,  any  successor  to the  Corporation  or  surviving  entity  in such
Fundamental  Transaction  shall  issue to the Holder a new  series of  preferred
stock consistent with the foregoing provisions and evidencing the Holders' right
to convert such preferred stock into Alternate  Consideration.  The terms of any
agreement pursuant to which a Fundamental  Transaction is effected shall include
terms  requiring  any such  successor  or  surviving  entity to comply  with the
provisions of this Section 15(c) and insuring that the Series A Preferred  Stock
(or  any  such  replacement  security)  will  be  similarly  adjusted  upon  any
subsequent transaction analogous to a Fundamental Transaction.

               (d) Subsequent  Equity Sales.  If at any time while any shares of
Series A Preferred  Stock remain  outstanding  the Corporation or any Subsidiary
issues additional shares of Common Stock or rights,  warrants,  options or other
securities or debt convertible,  exercisable or exchangeable for Common Stock or
otherwise  entitling any Person to acquire Common Stock  (collectively,  "Common
Share  Equivalents")  at a  purchase  price  per  share  of  Common  Stock  (the
"Effective Price") less than the Conversion Price (as adjusted hereunder to such
date),  then the  Conversion  Price  shall be  adjusted  to a  Conversion  Price
determined by multiplying the Conversion Price then in effect by a fraction, (i)
the  numerator  of which  shall be the sum of (x) the number of shares of Common
Stock  outstanding on the date of such issuance and (y) the number of additional
shares  Common  Stock which the  aggregate  offering  price of the total  number
shares of Common Stock so issued (or the sum of the aggregate  offering price of
the total number of Common Share

                                       14
<PAGE>

Equivalents  so  issued  and the  aggregate  amount  of cash due upon  exercise,
exchange or conversion of such Common Share  Equivalents)  would purchase at the
Conversion Price then in effect,  and (ii) the denominator of which shall be the
sum of (x) the number of shares of Common Stock  outstanding on the date of such
issuance and (y) the number of additional  shares of Common Stock issued (or the
number  of shares of Common  Stock  for  which or into  which the  Common  Share
Equivalents  so offered are  exercisable,  exchangeable  or  convertible  at the
Effective  Price).  For  purposes  of this  paragraph,  in  connection  with any
issuance of any Common Share  Equivalents,  (A) the maximum  number of shares of
Common  Stock  potentially  issuable  at any time upon  conversion,  exercise or
exchange of such Common Share  Equivalents (the "Deemed Number") shall be deemed
to be  outstanding  upon  issuance of such  Common  Share  Equivalents,  (B) the
Effective Price  applicable to such Common Shares shall equal the minimum dollar
value of consideration  payable to the Corporation to purchase such Common Share
Equivalents  and to convert,  exercise  or  exchange  them into shares of Common
Stock,  divided by the Deemed Number, (C) no further adjustment shall be made to
the Conversion  Price upon the actual issuance of Common Shares upon conversion,
exercise or exchange of such  Common  Share  Equivalents,  and (D) to the extent
that any such Common Share Equivalents expire before fully converted,  exercised
or  exchanged,   the  Conversion  Price  will  be  readjusted  to  reflect  such
expiration.  If, at any time  while any shares of Series A  Preferred  Stock are
outstanding,  the  Corporation or any Subsidiary  directly or indirectly  issues
Common  Share  Equivalents  with an  Effective  Price or a number of  underlying
shares that  floats or resets or  otherwise  varies or is subject to  adjustment
based (directly or indirectly) on market prices of the Common Stock (a "Floating
Price Security"), then for purposes of applying this Section 15(d) in connection
with  any  subsequent  conversion,   the  Effective  Price  will  be  determined
separately  on each  Conversion  Date and will be  deemed  to equal  the  lowest
Effective  Price at which any holder of such Floating Price Security is entitled
to acquire Common Shares on such Conversion Date (regardless of whether any such
holder  actually  acquires  any  shares  on  such  date).   Notwithstanding  the
foregoing, no adjustment will be made under this paragraph (d) in respect of any
issuances  of Common  Stock and Common Share  Equivalents  made  pursuant to the
definition of Excluded Stock.

               (e) Calculations. All calculations under this Section 15 shall be
made to the nearest cent or the nearest 1/100th of a share,  as applicable.  The
number of shares of Common Stock outstanding at any given time shall not include
shares  owned  or  held  by or for  the  account  of the  Corporation,  and  the
disposition  of any such shares shall be  considered  an issue or sale of Common
Stock.

               (f) Notice of Adjustments. Upon the occurrence of each adjustment
pursuant  to this  Section 15, the  Corporation  at its  expense  will  promptly
compute  such  adjustment  in  accordance  with the terms  hereof and  prepare a
certificate describing in reasonable detail such adjustment and the transactions
giving rise thereto,  including  all facts upon which such  adjustment is based.
Upon written request,  the Corporation will promptly deliver a copy of each such
certificate to each Holder and to the Corporation's transfer agent.

               (g) Notice of Corporate Events. If the Corporation (i) declares a
dividend  (other  than a  dividend  pursuant  to  Section  5 above) or any other
distribution  of cash,  securities  or other  property  in respect of its Common
Stock,  including,  without  limitation,  any  granting of rights or warrants to
subscribe  for  or  purchase  any  capital  stock  of  the  Corporation  or  any
Subsidiary, (ii) authorizes or approves, enters into any agreement contemplating
or  solicits  stockholder  approval  for any  Fundamental  Transaction  or (iii)
authorizes the voluntary  dissolution,  liquidation or winding up of the affairs
of the Corporation,  then the Corporation  shall deliver to each Holder a notice
describing the material terms and  conditions of such  transaction,  at least 20
calendar days prior to the applicable

                                       15
<PAGE>

record or  effective  date on which a Person  would need to hold Common Stock in
order to participate in or vote with respect to such transaction.

          16. Fractional  Shares. The Corporation shall not be required to issue
or cause to be issued  fractional  Underlying  Shares on  conversion of Series A
Preferred  Stock. If any fraction of an Underlying  Share would,  except for the
provisions of this Section 16, be issuable upon conversion of Series A Preferred
Stock,  the number of  Underlying  Shares to be issued will be rounded up to the
nearest whole share.

          17. Notices. Any and all notices or other communications or deliveries
hereunder  (including  without  limitation  any  Conversion  Notice) shall be in
writing and shall be deemed given and  effective on the earliest of (i) the date
of  transmission,  if such notice or communication is delivered via facsimile at
the facsimile number specified in this Section prior to 4:30 p.m. (New York City
time)  on  a  Trading  Day,  (ii)  the  next  Trading  Day  after  the  date  of
transmission,  if such notice or communication is delivered via facsimile at the
facsimile number specified in this Section on a day that is not a Trading Day or
later than 4:30 p.m. (New York City time) on any Trading Day,  (iii) the Trading
Day following the date of mailing,  if sent by nationally  recognized  overnight
courier service, or (iv) upon actual receipt by the party to whom such notice is
required to be given. The addresses for such communications  shall be: (i) if to
the  Corporation,  to 200 Clinton Avenue West, Suite 1000,  Huntsville,  Alabama
35801, facsimile:  (256) 580-3996,  Attention:  James E. Deason, or (ii) if to a
Holder,  to the  address or  facsimile  number  appearing  on the  Corporation's
stockholder records or such other address or facsimile number as such Holder may
provide to the Corporation in accordance with this Section 17.

          18. Miscellaneous.

               (a)  The  headings  herein  are  for  convenience  only,  do  not
constitute a part of this Certificate of Designations and shall not be deemed to
limit or affect any of the provisions hereof.

               (b) No  provision  of this  Certificate  of  Designations  may be
amended, except in a written instrument signed by the Corporation and holders of
at least two-thirds of the shares of Series A Preferred Stock then  outstanding.
Any of the  rights  of the  Holders  set  forth  herein,  including  any  Equity
Conditions  or any other similar  conditions  for the Holders'  benefit,  may be
waived by the affirmative  vote of holders of at least  two-thirds of the shares
of Series A Preferred Stock then outstanding,  except that each Holder may waive
its own rights as provided in this Certificate of Designations. No waiver of any
default  with  respect  to any  provision,  condition  or  requirement  of  this
Certificate  of  Designations  shall be deemed to be a continuing  waiver in the
future or a waiver of any subsequent default or a waiver of any other provision,
condition or requirement hereof, nor shall any delay or omission of either party
to exercise any right  hereunder  in any manner  impair the exercise of any such
right.

                                       16
<PAGE>

IN WITNESS  WHEREOF,  Wolverine  Tube,  Inc.  has  caused  this  Certificate  of
Designations to be duly executed as of this __ day of __________, 200_.

                                           WOLVERINE TUBE, INC.

                                           By:  __________________________
                                                Name:
                                                Title:

<PAGE>

                                                                       EXHIBIT A

                            FORM OF CONVERSION NOTICE

(To be executed by the registered Holder
in order to convert shares of Series A Preferred Stock)

The  undersigned  hereby  elects  to  convert  the  number of shares of Series A
Convertible  Preferred  Stock  indicated  below into  shares of Common  Stock of
Wolverine Tube, Inc., according to the conditions hereof, as of the date written
below.

          ----------------------------------------------------------------------
          Date to Effect Conversion

          ----------------------------------------------------------------------
          Number of shares of Series A Preferred Stock owned prior to Conversion

          ----------------------------------------------------------------------
          Number of shares of Series A Preferred Stock to be Converted

          ----------------------------------------------------------------------
          Stated Value of shares of Series A Preferred Stock to be Converted

          ----------------------------------------------------------------------
          Number of shares of Common Stock to be Issued

          ----------------------------------------------------------------------
          Applicable Conversion Price

          ----------------------------------------------------------------------
          Number of shares of Series A Preferred Stock subsequent to Conversion

          ----------------------------------------------------------------------
          Name of Holder
          By:
             -------------------------------------------------------------------
          Name:
               -----------------------------------------------------------------
          Title:
                ----------------------------------------------------------------

                                      A-1

<PAGE>
                                    EXHIBIT B

                          REGISTRATION RIGHTS AGREEMENT

          This  Registration  Rights  Agreement  (this  "Agreement") is made and
entered into as of ___________ __, 2007,  among WOLVERINE TUBE, INC., a Delaware
corporation  (the  "Company"),  and the  investors  signatory  hereto (each such
investor  is a  "Purchaser"  and  all  such  investors  are,  collectively,  the
"Purchasers").

                                    RECITALS

          WHEREAS,  the  parties  have  agreed to enter into this  Agreement  in
connection  with, and as a condition to the Closing under,  the Preferred  Stock
Purchase  Agreement,  dated as of January  31,  2007,  among the Company and the
Purchasers (the "Purchase Agreement"); and

          WHEREAS,  pursuant to the Purchase Agreement and concurrently with the
execution of this  Agreement,  the  Purchasers  are  acquiring  from the Company
shares of the Company's  Series A Convertible  Preferred  Stock, par value $1.00
per share (the "Preferred Stock"); and

          WHEREAS,  in consideration of the Purchasers'  entry into the Purchase
Agreement, the Company has agreed to execute and deliver this Agreement.

                                    AGREEMENT

          NOW, THEREFORE,  IN CONSIDERATION of the mutual covenants contained in
this Agreement,  and for other good and valuable  consideration  the receipt and
adequacy of which are hereby acknowledged,  the Company and the Purchasers agree
as follows:

          1.  Definitions.  In addition to the terms  defined  elsewhere in this
Agreement,  (a) capitalized terms that are not otherwise defined herein have the
meanings  given to such terms in the Purchase  Agreement,  and (b) the following
terms have the meanings indicated:

          "Demand Registration Statement" means any Registration Statement
     filed or to be filed pursuant to a written  Purchaser  Request  pursuant to
     either Section 2 or Section 3.

          "Holder"  means  any  holder,   from  time  to  time,  of  Registrable
     Securities.

          "Piggy-Back  Registration  Statement"  means a Registration  Statement
     filed or to be filed  pursuant to which the Company has received one (1) or
     more written requests to participate pursuant to Section 4.

          "Primary  Registration  Statement" means (i) the initial  Registration
     Statement to be filed within  forty-five (45) days of the Closing  pursuant
     to  Section  2, (ii) any Demand  Registration  Statement  or (ii) any other
     Registration  Statement  filed  pursuant  to this  Agreement  other  than a
     Piggy-Back Registration Statement.

          "Prospectus" means the prospectus included in a Registration Statement
     (including,  without limitation, a prospectus that includes any information
     previously  omitted  from  a  prospectus  filed  as  part  of an  effective
     registration   statement  in  reliance  upon  Rules  430A,   430B  or  430C
     promulgated  under the Securities  Act), as amended or

<PAGE>

     supplemented by any prospectus supplement, with respect to the terms of the
     offering  of  any  portion  of  the  Registrable  Securities  covered  by a
     Registration  Statement,  and all other  amendments and  supplements to the
     Prospectus,   including   post-effective   amendments,   and  all  material
     incorporated by reference or deemed to be incorporated by reference in such
     Prospectus.

          "Purchaser Request" means a request to register Registrable Securities
     with an  aggregate  value of at least ten  million  dollars  ($10,000,000),
     calculated  using the closing price of the  Company's  Common Shares on the
     Trading  Market on the date  preceding the date of the  Purchaser  Request)
     pursuant to requests from Purchasers under this Agreement.

          "Registrable  Securities"  means any  Preferred  Stock or Common Stock
     (including   Underlying   Shares)  issued  or  issuable   pursuant  to  the
     Transaction Documents, together with any securities issued or issuable upon
     any  stock  split,  dividend  or other  distribution,  recapitalization  or
     similar event with respect to the foregoing;  provided,  however,  that any
     Registrable  Securities  shall cease to be Registrable  Securities when (i)
     they  have  been  sold  pursuant  to a  registration  statement  under  the
     Securities Act, or (ii) they have been sold pursuant to Rule 144.

          "Registration  Statement" shall mean any registration  statement to be
     filed  under  the  Exchange  Act,  which  covers  any  of  the  Registrable
     Securities  pursuant to the  provisions  of this  Agreement,  including the
     Prospectus  included  therein,  all  amendments  and  supplements  to  such
     Registration   Statement,   including   pre-effective  and   post-effective
     amendments,  all  exhibits and all  material  incorporated  by reference or
     deemed  to be  incorporated  by  reference,  if any,  in such  Registration
     Statement.

          "Rule 144," "Rule 415," "Rule 424" and "Rule 461" means Rule 144, Rule
     415, Rule 424 and Rule 461,  respectively,  promulgated  by the  Commission
     pursuant to the  Securities  Act, as such Rules may be amended from time to
     time, or any similar rule or regulation hereafter adopted by the Commission
     having substantially the same effect as such Rule.

          "Shelf Registration Statement" means a Registration Statement filed or
     to be  filed  with the  Commission  pursuant  to  Section  2  hereof  on an
     appropriate  form under the Exchange Act,  which covers the re-sale of some
     or all of the  Registrable  Securities  by a Holder or Holders  pursuant to
     Rule 415 under the Securities  Act, or any similar rule that may be adopted
     by  the  Commission,   amendment  and  supplements  to  such   Registration
     Statement, including post- effective amendments, in each case including the
     prospectus  contained  therein,  all  exhibits  thereto  and  all  material
     incorporated by reference therein.

          2. Primary Registration Statement. Upon:

          (a) the Closing (as defined in the Purchase Agreement); or

          (b) the receipt by the Company of a written  Purchaser  Request  under
this Section y2 that the Company file a Registration Statement,

                                       2
<PAGE>

the Company shall prepare and file (as expeditiously as practicable,  and in any
event  within  forty-five  (45) days after the Closing or thirty (30) days after
receipt any  Purchaser  Request,  as  applicable  but subject to any  applicable
Blackout Periods) with the Commission a Shelf  Registration  Statement  covering
the  resale  of all  Registrable  Securities  for an  offering  to be  made on a
continuous basis pursuant to Rule 415. Such  Registration  Statement shall be on
Form S-3 (except if the Company is not then  eligible to register for resale the
Registrable  Securities on Form S-3, in which case such registration shall be on
another  appropriate  form in accordance  herewith) and shall contain (except if
otherwise directed by the Holders) the "Plan of Distribution" attached hereto as
Annex A. The Company shall,  subject to any applicable Blackout Periods, use its
best efforts to cause such Registration Statement to be declared effective under
the Securities Act as promptly as possible after the filing thereof (the date of
such declaration being the  "Effectiveness  Date"),  and in any event within one
hundred  twenty  (120) days of the Closing or ninety (90) days after  receipt of
the Purchaser  Request,  as  applicable,  and shall use its best efforts to keep
such  Registration  Statement  continuously  effective  under the Securities Act
until the earlier of (i) the fifth  anniversary  of the  Effectiveness  Date and
(ii) when all Registrable Securities covered by such Registration Statement have
been sold (the "Effectiveness  Period"). The Company shall notify each Holder in
writing  promptly  (and in any event  within one  Trading  Day) after  receiving
notification from the Commission that a Registration Statement has been declared
effective.

          3. Demand Registration.

          (a) If at any time the  Company  shall  receive  a  written  Purchaser
Request that the Company file a registration statement under the Securities Act,
then the  Company  shall,  within  ten (10) days of the  receipt  thereof,  give
written  notice of such  Purchaser  Request to all Holders  and,  subject to the
limitations of Section 5 below, shall file (as expeditiously as practicable, and
in any event within thirty (30) days of the receipt of such request) and use its
commercially  reasonable best efforts to have declared effective, a registration
statement  under the Securities Act with respect to all  Registrable  Securities
which the  Holders  request to be  registered  within  fifteen  (15) days of the
mailing of such notice by the Company in accordance with Section 10(g) below.

          (b) If the Holders  making the Purchaser  Request intend to distribute
the Registrable Securities covered by their request by means of an underwriting,
they shall so advise the  Company as a part of their  request  made  pursuant to
this Section y3 and the Company  shall include such  information  in the written
notice  referred to in Section 3(a).  In such event,  the right of any Holder to
include such  Holder's  Registrable  Securities  in such  registration  shall be
conditioned  upon  such  Holder's  participation  in such  underwriting  and the
inclusion of such Holder's  Registrable  Securities in the underwriting  (unless
otherwise mutually agreed by a majority in interest of the Holders participating
in the  underwriting  and such Holder) to the extent provided herein. A majority
in  interest  of the  Holders of  Registrable  Securities  participating  in the
underwriting,  with the  consent  of the  Company,  which  consent  shall not be
unreasonably withheld,  shall select the managing underwriter or underwriters in
such underwriting.  All Holders proposing to distribute their securities through
such underwriting  shall (together with the Company as provided in Section 6(l))
enter into an  underwriting  agreement in customary form with the underwriter or
underwriters so selected for such underwriting by a majority in interest of such
Holders; provided,  however, that no Holder (or any

                                       3
<PAGE>
of their assignees) shall be required to make any representations, warranties or
indemnities  except as they  relate to such  Holder's  ownership  of shares  and
authority to enter into the underwriting agreement and to such Holder's intended
method of distribution,  and the liability of such Holder shall be limited to an
amount  equal to the net  proceeds  from the  offering  received by such Holder.
Notwithstanding  any other  provision  of this  Section  y3, if the  underwriter
advises a Holder that  marketing  factors  require a limitation of the number of
shares to be  underwritten,  then the Holder shall so advise the Company and the
Company  shall so advise  all  Holders of  Registrable  Securities  which  would
otherwise  be  underwritten  pursuant  hereto,  and  the  number  of  shares  of
Registrable  Securities  that  may be  included  in the  underwriting  shall  be
allocated as follows:  (i) first,  among holders of Registrable  Securities that
have elected to participate  in such  underwritten  offering,  in proportion (as
nearly as practicable) to the aggregate amount of Registrable Securities held by
all such  holders,  until such holders  have  included in the  underwriting  all
shares requested by such holders to be included, and (ii) thereafter,  among the
Company and all other holders of Common  Stock,  if any, that have the right and
have elected to participate  in such  underwritten  offering,  in proportion (as
nearly as  practicable)  to the number of shares of Common Stock the Company and
such  holders  seek to include in such  underwriting.  Without  the consent of a
majority in interest of the Holders of Registrable Securities participating in a
registration  referred to in Section 3(a), no securities  other than Registrable
Securities shall be covered by such  registration if the inclusion of such other
securities  would result in a reduction of the number of Registrable  Securities
covered by such  registration  or  included  in any  underwriting  or if, in the
opinion of the managing  underwriter,  the  inclusion  of such other  securities
would adversely impact the marketing of such offering.

          (c) The Company shall be obligated to effect only one (1) registration
(and only if such  registration  would include  Registrable  Securities  with an
aggregate value of at least ten million dollars ($10,000,000),  calculated using
the closing  price of the Company's  Common Shares on the Trading  Market on the
date preceding the date of the Purchaser Request) pursuant to Purchaser Requests
under this Section 3 (an offering which is not consummated  shall not be counted
for this purpose).

4. Piggy-Back Registrations.

          (a) If (but without any  obligation to do so) the Company  proposes to
register (including for this purpose a registration  effected by the Company for
stockholders  other  than the  Purchasers)  any of its Common  Shares  under the
Securities Act in connection with the public offering of such securities  solely
for cash (other than a registration  on Form S-8 (or similar or successor  form)
relating  solely to the sale of  securities to  participants  in a Company stock
plan or to other compensatory  arrangements to the extent includable on Form S-8
(or similar or successor  form),  or a  registration  on Form S-4 (or similar or
successor  form)),  the Company shall,  at such time,  promptly give each Holder
written  notice of such  registration.  Upon the written  request of each Holder
received by the Company  within  twenty (20) Trading Days after  mailing of such
notice by the Company in accordance  with Section  10(g),  the Company shall use
its best efforts to cause to be registered  under the  Securities Act all of the
Registrable  Securities  that each such  Holder  (the  "Electing  Holders")  has
requested to be  registered.  The Company  shall have no  obligation  under this
Section 4 to make any offering of its securities,  or to complete an offering of
its securities that it proposes to make.

                                       4
<PAGE>

          (b) If the Common Shares to be registered in a  registration  to which
this Section 4 applies are to be sold in an underwritten  offering, the right of
any Electing Holder to include such Electing Holder's Registrable  Securities in
a  registration  pursuant  to this  Section  4 shall be  conditioned  upon  such
Electing  Holder's  participation in such underwriting and the inclusion of such
Holder's  Registrable  Securities in the underwriting (unless otherwise mutually
agreed  by  a  majority  in  interest  of  the  Holders   participating  in  the
underwriting and such Holder) to the extent provided herein.  The Company or any
other stockholders (not including the Holders) from whom the Company proposes to
effect a  registration  of  Common  Shares  pursuant  to this  Section 4 ("Other
Stockholders"),  as the Company  and such Other  Stockholders  shall  determine,
shall select the managing underwriter or underwriters in such underwriting.  All
Holders  proposing  to  distribute  their  Registrable  Securities  through such
underwriting  shall  (together  with the Company and the Other  Stockholders  as
provided in Section 6(l)) enter into an underwriting agreement in customary form
with  the  underwriter  or  underwriters  so  selected  for  such  underwriting;
provided,  however, that no Holder (or any of their assignees) shall be required
to make any representations,  warranties or indemnities except as they relate to
such Holder's  ownership of shares and authority to enter into the  underwriting
agreement  and to  such  Holder's  intended  method  of  distribution,  and  the
liability of such Holder shall be limited to an amount equal to the net proceeds
from the offering received by such Holder.  Notwithstanding  any other provision
of this Section 4, if the  underwriter  advises the Company that market  factors
require a  limitation  of the  number of  shares  to be  underwritten,  then the
Company  shall so advise  all  Holders of  Registrable  Securities  which  would
otherwise  be  underwritten  pursuant  hereto,  and  the  number  of  shares  of
Registrable  Securities  that  may be  included  in the  underwriting  shall  be
allocated as follows:  (i) first, among the Company and the Other  Stockholders,
as they shall  determine,  until the  Company and such Other  Stockholders  have
included in the  underwriting  all shares they desire to be  included,  and (ii)
thereafter, among all other Electing Holders that have elected to participate in
such  underwritten  offering,  in proportion (as nearly as  practicable)  to the
amount of Registrable  Securities each proposes to include in such  underwritten
offering.

          5. Blackout Period.

          (a) Subject to the  provisions  of this  Section 5(a) and a good faith
determination by a majority of the independent members of the Board of Directors
of the Company  that it is in the best  interests  of the Company to suspend the
use  of the  Registration  Statement,  prior  to the  filing  of a  Registration
Statement or following the  effectiveness  of a Registration  Statement (and the
filings with any international,  federal or state securities  commissions),  the
Company,  by  written  notice  to the  managing  underwriter  (if  any)  and the
Purchasers,  may suspend its obligation to file the Registration  Statement with
the  Commission or direct the  Purchasers  to suspend  sales of the  Registrable
Securities  pursuant to a Registration  Statement,  as the case may be, for such
times as the Company reasonably may determine is necessary and advisable (but in
no event  for more than (x) an  aggregate  of  ninety  (90) days in any  rolling
twelve (12)- month period  commencing on the Closing Date or (y) more than sixty
(60) days in any rolling ninety (90)-day period), if any of the following events
shall occur:  (1) the  representative  of the  underwriters  of an  underwritten
offering of primary  shares by the Company has advised the Company that the sale
of Registrable  Securities  pursuant to the Registration  Statement would have a
material adverse effect on the Company's primary  offering;  (2) the majority of
the  independent  members of the Board of  Directors  of the Company  shall have
determined  in good  faith  that  (A)(x)the  offer  or  sale of any  Registrable
Securities  would  materially  impede,  delay or

                                       6
<PAGE>

interfere with any proposed financing, offer or sale of securities, acquisition,
amalgamation,    merger,   tender   offer,   business   combination,   corporate
reorganization or other similar significant transaction involving the Company or
(y) after  obtaining the advice of counsel,  the sale of Registrable  Securities
pursuant to the  Registration  Statement would require  disclosure of non-public
material  information not otherwise  required to be disclosed  under  applicable
law, and (B) (x) the Company has a bona fide business purpose for preserving the
confidentiality  of  the  proposed  transaction,  (y)  disclosure  would  have a
material  adverse  effect on the Company or the Company's  ability to consummate
the proposed  transaction,  or (z) the proposed  transaction renders the Company
unable to comply with Commission requirements,  in each case under circumstances
that  would  make it  impractical  or  inadvisable  to  cause  the  Registration
Statement  (or  such  filings)  to  become  effective  or to  promptly  amend or
supplement the Registration  Statement on a post-effective basis, as applicable;
or (3) the majority of the independent  members of the Board of Directors of the
Company  shall have  determined  in good faith,  after  obtaining  the advice of
counsel,  that the Company is required by law,  rule or regulation or that it is
in the best interests of the Company to supplement the Registration Statement or
file a  post-effective  amendment  to the  Registration  Statement  in  order to
incorporate  information into the Registration  Statement for the purpose of (A)
including in the  Registration  Statement any prospectus  required under Section
10(a)(3) of the Securities Act; (B) reflecting in the prospectus included in the
Registration  Statement any facts or events  arising after the effective date of
the  Registration  Statement  (or of the most recent  post-effective  amendment)
that,  individually or in the aggregate,  represent a fundamental  change in the
information  set forth therein;  or (C) including in the prospectus  included in
the Registration  Statement any material information with respect to the plan of
distribution not disclosed in the Registration  Statement or any material change
to such  information.  Any period in which the Company's  obligation to file the
Registration  Statement  or the  use  of the  Registration  Statement  has  been
suspended in accordance  with this Section 5(a) is sometimes  referred to herein
as a "Blackout Period." Upon the occurrence of any such suspension,  the Company
shall use its  commercially  reasonable  best  efforts to file the  Registration
Statement,  to cause  the  Registration  Statement  to  become  effective  or to
promptly  amend or supplement  the  Registration  Statement on a  post-effective
basis  or to  take  such  action  as is  necessary  to make  resumed  use of the
Registration  Statement  compatible  with  the  Company's  best  interests,   as
applicable,  so as to permit the  Purchasers to resume sales of the  Registrable
Securities as soon as possible.

          (b) In the case of an event that causes the Company to suspend the use
of a  Registration  Statement (a  "Suspension  Event"),  the Company  shall give
written notice (a "Suspension  Notice") to the managing underwriter (if any) and
the  Purchasers to suspend sales of the  Registrable  Securities and such notice
shall state  generally the basis for the notice and that such  suspension  shall
continue  only for so long as the  Suspension  Event or its effect is continuing
(but in no event  longer than the  periods  specified  in Section  5(a)) and the
Company  is using its  commercially  reasonable  best  efforts  and  taking  all
reasonable steps to file the Registration  Statement or to terminate  suspension
of the use of the Registration Statement as promptly as possible. The Purchasers
shall  not  effect  any sales of the  Registrable  Securities  pursuant  to such
Registration  Statement  (or such  filings) at any time after it has  received a
Suspension  Notice from the Company and prior to receipt of an End of Suspension
Notice (as defined  below).  If so directed by the Company,  the Purchasers will
deliver to the Company (at the expense of the  Company)  all copies  (other than
permanent  file copies) then in the  Purchasers'  possession  of the  Prospectus
covering the  Registrable  Securities  at the time of receipt of the

                                       7
<PAGE>
Suspension  Notice.  The  Purchasers  may  recommence  effecting  sales  of  the
Registrable  Securities pursuant to the Registration Statement (or such filings)
following further notice to such effect (an "End of Suspension Notice") from the
Company,  which End of  Suspension  Notice  shall be given by the Company to the
Purchasers and the managing  underwriter in the manner  described above promptly
following the conclusion of any Suspension Event and its effect.

          (c)  Notwithstanding  any  provision  herein to the  contrary,  if the
Company  shall give a  Suspension  Notice  pursuant to this  Section  5(c),  the
Company  agrees  that it shall  extend  the  period  of time  during  which  the
applicable Registration Statement shall be maintained effective pursuant to this
Agreement  by the number of days  during the period  from the date of receipt by
the Purchasers of the Suspension  Notice to and including the date of receipt by
the Purchasers of the End of Suspension Notice and copies of the supplemented or
amended Prospectus necessary to resume sales.

          6. Primary Registration  Procedures.  In connection with the Company's
registration  obligations  hereunder  with  respect  to a  Primary  Registration
Statement, the Company shall:

          (a) Not less than three (3)  Trading  Days prior to the filing of each
Primary  Registration  Statement or any related  Prospectus  or any amendment or
supplement  thereto (including any document that would be incorporated or deemed
to be incorporated  therein by reference),  the Company shall (i) furnish to the
Holders and Purchaser Counsel copies of all such documents  proposed to be filed
(other than those incorporated or deemed to be incorporated by reference), which
documents  will be subject to the review of such Holders and Purchaser  Counsel,
and (ii) cause its officers and  directors,  counsel and  independent  certified
public  accountants to respond to such  inquiries as shall be necessary,  in the
reasonable opinion of respective counsel, to conduct a reasonable  investigation
within the  meaning  of the  Securities  Act.  The  Company  shall not file such
Primary  Registration  Statement  or  any  related  Prospectus,   amendments  or
supplements  thereto  to which the  Holders  of a  majority  of the  Registrable
Securities and Purchaser Counsel shall reasonably object.

          (b)  (i)  Prepare  and  file  with  the  Commission  such  amendments,
including post-effective  amendments, to each Primary Registration Statement and
the  Prospectus  used in  connection  therewith as may be necessary to keep such
Primary  Registration  Statement  continuously  effective  as to the  applicable
Registrable  Securities  for the  Effectiveness  Period  in the  case of a Shelf
Registration Statement, and until the end of the related offering in the case of
any  other  Primary  Registration  Statement,  and  prepare  and  file  with the
Commission  such  additional  Registration  Statements  in order to register for
resale under the Securities Act all of the  Registrable  Securities;  (ii) cause
the related Prospectus to be amended or supplemented by any required  Prospectus
supplement,  and as so supplemented or amended to be filed pursuant to Rule 424;
(iii)  respond as promptly as reasonably  possible,  and in any event within ten
(10) Trading Days, to any comments  received from the Commission with respect to
any  Registration  Statement  or  any  amendment  thereto  and  as  promptly  as
reasonably  possible provide the Holders and Purchaser Counsel true and complete
copies  of  all  correspondence  from  and  to  the  Commission  relating  to  a
Registration  Statement;  and (iv)  comply  in all  material  respects  with the
provisions  of the  Securities  Act and the  Exchange  Act with  respect  to the
disposition  of all

                                       7
<PAGE>

Registrable  Securities covered by a Primary  Registration  Statement during the
applicable  period in accordance with the intended methods of disposition by the
Holders thereof set forth in the applicable Primary Registration Statement as so
amended or in such Prospectus as so supplemented.

          (c) Notify the Holders of  Registrable  Securities to be sold pursuant
to a Primary  Registration  Statement  and  Purchaser  Counsel  as  promptly  as
reasonably  possible,  and (if requested by any such Person) confirm such notice
in writing no later than one (1) Trading Day thereafter, of any of the following
events: (i) the Commission notifies the Company whether there will be a "review"
of any Primary Registration  Statement;  (ii) the Commission comments in writing
on any Primary  Registration  Statement (in which case the Company shall deliver
to each Holder a copy of such  comments and of all written  responses  thereto);
(iii) any Primary Registration Statement or any post-effective amendment thereto
is  declared  effective;  (iv) the  Commission  or any  other  federal  or state
governmental  authority  requests  any  amendment  or  supplement  to a  Primary
Registration  Statement or Prospectus or requests additional information related
thereto;  (v) the Commission  issues any stop order suspending the effectiveness
of any Primary  Registration  Statement or initiates  any  Proceedings  for that
purpose; (vi) the Company receives notice of any suspension of the qualification
or exemption from  qualification  of any Registrable  Securities for sale in any
jurisdiction, or the initiation or threat of any Proceeding for such purpose; or
(vii) the financial  statements included in any Primary  Registration  Statement
become  ineligible  for inclusion  therein or any statement  made in any Primary
Registration  Statement or related  Prospectus or any document  incorporated  or
deemed to be incorporated therein by reference is untrue in any material respect
or any revision to a Primary Registration Statement, related Prospectus or other
document  is required  so that it will not  contain  any untrue  statement  of a
material fact or omit to state any material  fact required to be stated  therein
or necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading.

          (d) Use commercially  reasonable best efforts to avoid the issuance of
or,  if  issued,   obtain  the  withdrawal  of  (i)  any  order  suspending  the
effectiveness  of any Primary  Registration  Statement or (ii) any suspension of
the  qualification  (or exemption from  qualification) of any of the Registrable
Securities for sale in any jurisdiction, at the earliest practicable moment.

          (e) Furnish to each Holder and Purchaser  Counsel,  without charge, at
least  one  conformed  copy of each  Primary  Registration  Statement  and  each
amendment  thereto,  including  financial  statements  and  schedules,  and  all
exhibits to the extent  requested  by such Person  (excluding  those  previously
furnished  or  incorporated  by  reference)  promptly  after the  filing of such
documents with the Commission.

          (f) Promptly  deliver to each Holder and  Purchaser  Counsel,  without
charge, as many copies of the Prospectus or Prospectuses (including each form of
prospectus)  related to a Primary  Registration  Statement and each amendment or
supplement  thereto as such Persons may reasonably  request.  The Company hereby
consents to the use of such Prospectus and each amendment or supplement  thereto
by each of the selling  Holders in connection  with the offering and sale of the
Registrable   Securities  covered  by  such  Prospectus  and  any  amendment  or
supplement thereto.

                                       8
<PAGE>

          (g) In the time and manner required by each Trading Market, if at all,
prepare  and  file  with  such  Trading  Market  an  additional  shares  listing
application  covering  all of the  Registrable  Securities;  (ii) take all steps
necessary  and use  its  reasonable  best  efforts  to  cause  such  Registrable
Securities  to be  approved  for  listing  on  each  Trading  Market  as soon as
reasonably practicable thereafter; (iii) to the extent available to the Company,
provide to the  Purchasers  evidence of any such listing;  and (iv) maintain the
listing of such Registrable Securities on each such Trading Market.

          (h) Prior to any public offering of Registrable Securities pursuant to
a Primary Registration  Statement,  to register or qualify or cooperate with the
selling  Holders and Purchaser  Counsel in connection  with the  registration or
qualification  (or exemption from such  registration or  qualification)  of such
Registrable  Securities for offer and sale under the securities or Blue Sky laws
of such  jurisdictions  within  the  United  States as any  Holder  requests  in
writing,  keep each such registration or qualification (or exemption  therefrom)
effective during the  Effectiveness  Period in the case of a Shelf  Registration
Statement,  and until the offering is completed in the case of any other Primary
Registration  Statement,  and do any and all other acts or things  necessary  or
advisable to enable the  disposition in such  jurisdictions  of the  Registrable
Securities covered by a Primary Registration Statement;  provided, however, that
the Company  shall not be required to (i) take any action which would subject it
to taxation in any  jurisdiction  where it is not then subject to  taxation,  or
(ii) qualify to do business in any  jurisdiction  or (iii) consent to service of
process in any jurisdiction.

          (i) Cooperate  with the Holders to facilitate  the timely  preparation
and delivery of certificates representing Registrable Securities to be delivered
to a transferee pursuant to a Primary Registration Statement, which certificates
shall be  free,  to the  extent  permitted  by the  Purchase  Agreement,  of all
restrictive  legends,  and to enable such  Registrable  Securities to be in such
denominations and registered in such names as any such Holders may request.

          (j) Upon the occurrence of any event  described in Section  6(c)(vii),
as promptly as reasonably possible, prepare a supplement or amendment, including
a  post-effective  amendment,  to such a  Primary  Registration  Statement  or a
supplement to the related  Prospectus or any document  incorporated or deemed to
be incorporated  therein by reference,  and file any other required  document so
that, as thereafter delivered,  neither such Primary Registration  Statement nor
its related  Prospectus  will contain an untrue  statement of a material fact or
omit to state a material fact required to be stated therein or necessary to make
the  statements  therein,  in light of the  circumstances  under which they were
made, not misleading.

          (k) Cooperate with any due diligence  investigation  undertaken by the
Holders in  connection  with the sale of  Registrable  Securities  pursuant to a
Primary Registration Statement, including without limitation by making available
documents and information.

          (l) If Holders  of a  majority  of the  Registrable  Securities  being
offered pursuant to a Primary Registration Statement select underwriters for the
offering, enter into and perform its obligations under an underwriting agreement
with  such  underwriters,  in  usual  and  customary  form,  including,  without
limitation,   by  providing  customary  legal  opinions,   comfort  letters  and
indemnification and contribution obligations.

                                       9
<PAGE>

          (m) In the event of any underwritten  public offering,  enter into and
perform its obligations under an underwriting  agreement, in usual and customary
form, with the managing underwriter of such offering.

          (n)  Comply  with  all  applicable   rules  and   regulations  of  the
Commission.

          (o) The Company shall not be required to deliver any document pursuant
to any provision of this Section 6 to any Holder that is not selling Registrable
Securities under the applicable Primary Registration Statement.

          7.  Piggy-Back  Registration   Procedures.   In  connection  with  the
Company's  registration  obligations  hereunder  with  respect  to a  Piggy-Back
Registration Statement, the Company shall:

          (a) Not less than three (3)  Trading  Days prior to the filing of each
Piggy-Back  Registration Statement or any related Prospectus or any amendment or
supplement  thereto (i) furnish to the Electing  Holders and  Purchaser  Counsel
copies of all such documents  proposed to be filed,  and (ii) cause its officers
and directors,  counsel and independent  certified public accountants to respond
to such inquiries as shall be necessary, in the reasonable opinion of respective
counsel,  to  conduct a  reasonable  investigation  within  the  meaning  of the
Securities Act.

          (b) (i) Cause the related  Prospectus to be amended or supplemented by
any required  Prospectus  supplement,  and as so  supplemented  or amended to be
filed pursuant to Rule 424; (ii) as promptly as reasonably  possible provide the
Electing  Holders  and  Purchaser  Counsel  true  and  complete  copies  of  all
correspondence from and to the Commission relating to a Piggy-Back  Registration
Statement;  and (iii) comply in all material respects with the provisions of the
Securities  Act and the  Exchange  Act with  respect to the  disposition  of all
Registrable Securities covered by a Piggy-Back Registration Statement during the
offering.

          (c) Notify the Electing  Holders and Purchaser  Counsel as promptly as
reasonably  possible,  and (if requested by any such Person) confirm such notice
in writing no later than one (1) Trading Day thereafter, of any of the following
events: (i) the Commission notifies the Company whether there will be a "review"
of any  Piggy-Back  Registration  Statement;  (ii) the  Commission  comments  in
writing on any  Piggy-Back  Registration  Statement  (in which case the  Company
shall deliver to each Electing Holder a copy of such comments and of all written
responses  thereto);   (iii)  any  Piggy-Back   Registration  Statement  or  any
post-effective amendment is declared effective; (iv) the Commission or any other
federal or state governmental  authority requests any amendment or supplement to
a Piggy-Back Registration Statement or related Prospectus or requests additional
information related thereto; (v) the Commission issues any stop order suspending
the  effectiveness  of any  Piggy-Back  Registration  Statement or initiates any
Proceedings for that purpose; (vi) the Company receives notice of any suspension
of  the  qualification  or  exemption  from  qualification  of  any  Registrable
Securities  for sale in any  jurisdiction,  or the  initiation  or threat of any
Proceeding for such purpose;  or (vii) the financial  statements included in any
Piggy-Back Registration Statement become ineligible for inclusion therein or any
statement made in any Piggy-Back Registration Statement or related Prospectus or
any document  incorporated or deemed to be incorporated  therein by reference is

                                       10
<PAGE>

untrue in any  material  respect or any  revision to a  Piggy-Back  Registration
Statement,  related Prospectus or other document is required so that it will not
contain any untrue  statement  of a material  fact or omit to state any material
fact required to be stated therein or necessary to make the statements  therein,
in light of the circumstances under which they were made, not misleading.

          (d) Furnish to each  Electing  Holder and Purchaser  Counsel,  without
charge,  at  least  one  (1)  conformed  copy of  each  Piggy-Back  Registration
Statement  and  each  amendment  thereto,  including  financial  statements  and
schedules,  and all exhibits to the extent  requested by such Person  (excluding
those  previously  furnished or  incorporated  by reference)  promptly after the
filing of such documents with the Commission.

          (e) Promptly  deliver to each Electing  Holder and Purchaser  Counsel,
without charge, as many copies of the Prospectus or Prospectuses (including each
form of prospectus) and each amendment or supplement thereto as such Persons may
reasonably  request.  The Company hereby  consents to the use of such Prospectus
and each amendment or supplement thereto by each of the selling Electing Holders
in connection with the offering and sale of the Registrable  Securities  covered
by such Prospectus and any amendment or supplement thereto.

          (f)  Cooperate  with the  Electing  Holders to  facilitate  the timely
preparation and delivery of certificates  representing Registrable Securities to
be delivered to a transferee  pursuant to a Piggy-Back  Registration  Statement,
which  certificates  shall be free,  to the  extent  permitted  by the  Purchase
Agreement, of all restrictive legends, and to enable such Registrable Securities
to be in such  denominations  and  registered in such names as any such Electing
Holders may request.

          (g)  Comply  with  all  applicable   rules  and   regulations  of  the
Commission.

          (h) The Company shall not be required to deliver any document pursuant
to any  provision of this Section 7, other than  Section  7(e),  to any Electing
Holder that proposes to sell  Registrable  Securities  with less than $50,000 in
aggregate  offering  price  to the  public  under  the  Piggy-Back  Registration
Statement  (based on the last sale price per Common Share on the Trading  Market
on the  Trading  Day  preceding  the date of the  written  request  sent by such
Electing Holder under Section 4).

          (i) Upon the occurrence of any event  described in Section  6(c)(vii),
as promptly as reasonably possible, prepare a supplement or amendment, including
a post-effective  amendment,  to such a Piggy-Back  Registration  Statement or a
supplement to the related  Prospectus or any document  incorporated or deemed to
be incorporated  therein by reference,  and file any other required  document so
that, as thereafter delivered,  neither such Piggy-Back  Registration  Statement
nor its related  Prospectus will contain an untrue  statement of a material fact
or omit to state a material fact  required to be stated  therein or necessary to
make the statements therein, in light of the circumstances under which they were
made, not misleading.

          8.  Registration  Expenses.  All fees  and  expenses  incident  to the
performance  of or compliance  with this Agreement by the Company shall be borne
by the Company whether or not any Registrable  Securities are sold pursuant to a
Registration  Statement.  The fees and

                                       12
<PAGE>

expenses  referred  to  in  the  foregoing   sentence  shall  include,   without
limitation, (a) all registration and filing fees (including, without limitation,
fees and  expenses  (i) with  respect  to filings  required  to be made with any
Trading Market,  and (ii) in compliance with applicable state securities or Blue
Sky laws (including,  without limitation,  fees and disbursements of counsel for
the Company in  connection  with Blue Sky  qualifications  or  exemptions of the
Registrable  Securities and  determination of the eligibility of the Registrable
Securities for investment  under the laws of such  jurisdictions as requested by
the Holders )), (b) printing expenses (including,  without limitation,  expenses
of printing certificates for Registrable Securities and of printing prospectuses
requested by the Holders),  (c) messenger,  telephone and delivery expenses, (d)
reasonable  fees and  disbursements  of  counsel  for the  Company  and fees and
expenses of Purchaser  Counsel,  and (e) fees and expenses of all other  Persons
retained by the Company in connection with the  consummation of the transactions
contemplated by this Agreement.  Notwithstanding  the foregoing,  the Holders of
such   Registrable   Securities  shall  be  responsible  for  any  brokerage  or
underwriting  commissions  (including  without  limitation,  transfer  tax) with
respect to any disposition, sale, or transfer of Registrable Securities.

          9. Indemnification

          (a) Indemnification by the Company. The Company shall, notwithstanding
any termination of this Agreement,  indemnify and hold harmless each Holder, the
officers,  directors,  partners, members, agents, brokers (including brokers who
offer and sell  Registrable  Securities  as principal as a result of a pledge or
any failure to perform under a margin call of Common Stock), investment advisors
and employees of each of them,  each Person who controls any such Holder (within
the meaning of Section 15 of the  Securities  Act or Section 20 of the  Exchange
Act) and the officers,  directors,  partners,  members,  agents and employees of
each such controlling Person, to the fullest extent permitted by applicable law,
from and against any and all Losses,  as incurred,  arising out of or related to
any  untrue or  alleged  untrue  statement  of a material  fact  contained  in a
Registration  Statement,  any Prospectus,  or any form of prospectus,  or in any
amendment or supplement  thereto, or in any preliminary  prospectus,  or arising
out of or  related  to any  omission  or alleged  omission  of a  material  fact
required to be stated  therein or necessary to make the  statements  therein (in
the case of any Prospectus or form of prospectus or supplement thereto, in light
of the circumstances  under which they were made) not misleading,  except to the
extent  that (i) such  untrue  statements  or  omissions  are based  solely upon
information  regarding  such Holder  furnished in writing to the Company by such
Holder expressly for use therein, or to the extent that such information relates
to such Holder or such Holder's  proposed  method of distribution of Registrable
Securities  and was  reviewed and  expressly  approved in writing by such Holder
expressly for use in a Registration  Statement,  such Prospectus or such form of
Prospectus or in any  amendment or supplement  thereto or (ii) in the case of an
occurrence of an event of the type specified in Sections 6(c)(v)-(vii),  the use
by such  Holder of an  outdated or  defective  Prospectus  after the Company has
notified such Holder in writing that the Prospectus is outdated or defective and
prior to the receipt by such Holder of the Advice contemplated in Section 10(f).
The Company  shall  notify the Holders  promptly of the  institution,  threat or
assertion of any Proceeding of which the Company is aware in connection with the
transactions contemplated by this Agreement.

          (b) Indemnification by Holders. Each Holder shall, notwithstanding the
termination  of this  Agreement,  severally and not jointly,  indemnify and hold
harmless the

                                       12
<PAGE>

Company, its directors, officers, agents and employees, each Person who controls
the Company  (within the meaning of Section 15 of the Securities Act and Section
20 of the Exchange  Act), and the  directors,  officers,  agents or employees of
such  controlling  Persons,  to the fullest extent  permitted by applicable law,
from and against all Losses (as determined by a court of competent  jurisdiction
in a final  judgment not subject to appeal or review)  arising out of any untrue
or alleged  untrue  statement of a material fact  contained in any  Registration
Statement,  any  Prospectus,  or any form of prospectus,  or in any amendment or
supplement  thereto,  or in any preliminary  prospectus or arising solely out of
any  omission  or alleged  omission  of a material  fact  required  to be stated
therein  or  necessary  to make  the  statements  therein  (in  the  case of any
Prospectus  or form  of  prospectus  or  supplement  thereto,  in  light  of the
circumstances under which they were made) not misleading to the extent, but only
to the extent,  that such untrue  statement  or  omission  is  contained  in any
information  so furnished in writing by such Holder to the Company  specifically
for inclusion in such  Registration  Statement or such  Prospectus.  In no event
shall the  liability of any selling  Holder  hereunder be greater in amount than
the dollar  amount of the net proceeds  received by such Holder upon the sale of
the Registrable Securities giving rise to such indemnification obligation.

          (c) Conduct of Indemnification Proceedings. If any Proceeding shall be
brought or asserted  against  any Person  entitled to  indemnity  hereunder  (an
"Indemnified  Party"),  such Indemnified  Party shall promptly notify the Person
from whom  indemnity is sought (the  "Indemnifying  Party") in writing,  and the
Indemnifying Party shall have the right to assume the defense thereof, including
the employment of counsel  reasonably  satisfactory to the Indemnified Party and
the  payment  of all fees and  expenses  incurred  in  connection  with  defense
thereof; provided, that the failure of any Indemnified Party to give such notice
shall not relieve  the  Indemnifying  Party of its  obligations  or  liabilities
pursuant  to this  Agreement,  except  (and only) to the extent that it shall be
finally determined by a court of competent  jurisdiction (which determination is
not  subject  to  appeal  or  further  review)  that  such  failure  shall  have
proximately and materially adversely prejudiced the Indemnifying Party.

          An Indemnified  Party shall have the right to employ separate  counsel
in any such Proceeding and to participate in the defense  thereof,  but the fees
and expenses of such counsel shall be at the expense of such  Indemnified  Party
or Parties unless:  (i) the Indemnifying Party has agreed in writing to pay such
fees and expenses;  or (ii) the Indemnifying Party shall have failed promptly to
assume  the  defense  of  such  Proceeding  and  to  employ  counsel  reasonably
satisfactory  to such  Indemnified  Party in any such  Proceeding;  or (iii) the
named parties to any such Proceeding  (including any impleaded  parties) include
both such  Indemnified  Party and the  Indemnifying  Party, and such Indemnified
Party shall have been  advised by counsel  that a conflict of interest is likely
to exist if the same counsel were to represent  such  Indemnified  Party and the
Indemnifying  Party (in which  case,  if such  Indemnified  Party  notifies  the
Indemnifying  Party in writing that it elects to employ separate  counsel at the
expense of the Indemnifying  Party,  the  Indemnifying  Party shall not have the
right to assume the defense  thereof and such counsel shall be at the expense of
the  Indemnifying  Party).  The  Indemnifying  Party shall not be liable for any
settlement of any such Proceeding  effected without its written  consent,  which
consent shall not be unreasonably withheld. No Indemnifying Party shall, without
the prior written consent of the Indemnified Party, effect any settlement of any
pending Proceeding in respect of which any Indemnified Party is a party,  unless
such settlement includes an

                                       13
<PAGE>

unconditional  release of such  Indemnified  Party from all  liability on claims
that are the subject matter of such Proceeding.

          All fees and expenses of the Indemnified  Party (including  reasonable
fees and expenses to the extent  incurred in connection  with  investigating  or
preparing  to defend  such  Proceeding  in a manner not  inconsistent  with this
Section) shall be paid to the Indemnified  Party,  as incurred,  within ten (10)
Trading Days of written notice thereof to the Indemnifying  Party (regardless of
whether it is ultimately determined that an Indemnified Party is not entitled to
indemnification  hereunder;  provided,  that the Indemnifying  Party may require
such  Indemnified  Party to undertake to reimburse all such fees and expenses to
the extent it is finally  judicially  determined that such Indemnified  Party is
not entitled to indemnification hereunder).

          (d) Contribution. If a claim for indemnification under Section 9(a) or
9(b) is  unavailable  to an  Indemnified  Party (by  reason of public  policy or
otherwise),   then  each  Indemnifying  Party,  in  lieu  of  indemnifying  such
Indemnified  Party,  shall  contribute  to the  amount  paid or  payable by such
Indemnified  Party  as a  result  of  such  Losses,  in  such  proportion  as is
appropriate  to  reflect  the  relative  fault  of the  Indemnifying  Party  and
Indemnified  Party in connection with the actions,  statements or omissions that
resulted in such Losses as well as any other relevant equitable  considerations.
The relative fault of such  Indemnifying  Party and  Indemnified  Party shall be
determined by reference to, among other things,  whether any action in question,
including any untrue or alleged untrue  statement of a material fact or omission
or alleged omission of a material fact, has been taken or made by, or relates to
information  supplied by, such Indemnifying  Party or Indemnified Party, and the
parties'  relative intent,  knowledge,  access to information and opportunity to
correct or prevent  such  action,  statement  or  omission.  The amount  paid or
payable by a party as a result of any Losses shall be deemed to include, subject
to the limitations set forth in Section 9(c), any reasonable attorneys' or other
reasonable  fees or  expenses  incurred  by such  party in  connection  with any
Proceeding to the extent such party would have been indemnified for such fees or
expenses if the  indemnification  provided for in this Section was  available to
such party in accordance with its terms.

          The parties  hereto  agree that it would not be just and  equitable if
contribution  pursuant  to  this  Section  9(d)  were  determined  by  pro  rata
allocation or by any other method of allocation  that does not take into account
the equitable considerations referred to in the immediately preceding paragraph.
Notwithstanding the provisions of this Section 9(d), no Holder shall be required
to contribute, in the aggregate, any amount in excess of the amount by which the
proceeds  actually  received  by such  Holder  from the sale of the  Registrable
Securities subject to the Proceeding exceeds the amount of any damages that such
Holder has  otherwise  been  required to pay by reason of such untrue or alleged
untrue statement or omission or alleged omission. No Person guilty of fraudulent
misrepresentation  (within the meaning of Section 11(f) of the  Securities  Act)
shall be  entitled  to  contribution  from any Person who was not guilty of such
fraudulent misrepresentation.

          The indemnity and  contribution  agreements  contained in this Section
are in addition to any liability that the  Indemnifying  Parties may have to the
Indemnified Parties.

                                       14
<PAGE>

          10. Miscellaneous

          (a)  Remedies.  In the event of a breach by the Company or by a Holder
of any of their obligations under this Agreement, each Holder or the Company, as
the case may be, in addition to being entitled to exercise all rights granted by
law and under this Agreement, including recovery of damages, will be entitled to
specific  performance of its rights under this  Agreement.  The Company and each
Holder agree that monetary damages would not provide  adequate  compensation for
any losses incurred by reason of a breach by it of any of the provisions of this
Agreement  and  hereby  further  agrees  that,  in the event of any  action  for
specific  performance in respect of such breach, it shall waive the defense that
a remedy at law would be adequate.

          (b)  Amendments  and  Waivers.   The  provisions  of  this  Agreement,
including the provisions of this sentence, may not be amended, modified or
supplemented,  and waivers or consents to departures from the provisions  hereof
may not be given,  unless the same shall be in writing and signed by the Company
and each Holder holding more than 5,000,000  shares of Common Stock (as adjusted
for any stock split, stock dividend or other  distribution,  recapitalization or
similar  event  affecting the Common Stock) on an  as-converted  basis  assuming
conversion of the Preferred Stock held by such Holder.

          (c) No  Inconsistent  Agreements.  Neither  the Company nor any of its
Subsidiaries has entered, as of the date hereof, nor shall the Company or any of
its  subsidiaries,  on or  after  the  date of this  Agreement,  enter  into any
agreement with respect to its securities that would have the effect of impairing
the rights granted to the Holders in this Agreement or otherwise  conflicts with
the provisions  hereof.  Except as and to the extent specified in the applicable
schedule to the Purchase  Agreement,  neither the Company nor any Subsidiary has
previously  entered into any  agreement  granting any  registration  rights with
respect to any of its  securities to any Person that have not been  satisfied in
full.

          (d) No  Piggy-back  on  Registrations.  Except  as  and to the  extent
specified in Schedule 3.1(g) to the Purchase Agreement,  neither the Company nor
any of its security  holders  (other than the Holders in such capacity  pursuant
hereto)  may  include  securities  of  the  Company  in a  Primary  Registration
Statement other than the Registrable Securities.

          (e) Compliance.  Each Holder  covenants and agrees that it will comply
with the prospectus delivery requirements of the Securities Act as applicable to
it in connection with sales of Registrable Securities pursuant to a Registration
Statement.

          (f) Discontinued Disposition. Each Holder agrees by its acquisition of
such  Registrable  Securities that, upon receipt of a notice from the Company of
the occurrence of any event of the kind described in Sections 6(c)(v), 6(c)(vi),
or 6(c)(vii), or Sections 7(c)(v),  7(c)(vi), or 7(c)(vii), as applicable,  such
Holder will forthwith destroy all copies of the Prospectus in its possession and
discontinue  disposition  of such  Registrable  Securities  under a Registration
Statement  until  such  Holder's  receipt  of the  copies  of  any  supplemented
Prospectus  and/or  amended  Registration  Statement  (if  required  pursuant to
Section 6(j) or 7(i)),  or until it is advised in writing (the  "Advice") by the
Company that the use of the applicable Prospectus may be resumed, and, in either
case,  has received  copies of any additional or  supplemental  filings that

                                       15
<PAGE>

are incorporated or deemed to be incorporated by reference in such Prospectus or
Registration  Statement.  The  Company may  provide  appropriate  stop orders to
enforce the provisions of this paragraph.

          (g) Notices. Any and all notices or other communications or deliveries
required or permitted to be provided  hereunder shall be in writing and shall be
deemed given and effective on the earliest of (a) the date of  transmission,  if
such  notice or  communication  is  delivered  via  facsimile  at the  facsimile
telephone  number  specified in this Section  prior to 4:30 p.m.  (New York City
time) on a Trading Day, (b) the next Trading Day after the date of transmission,
if such notice or  communication  is delivered  via  facsimile at the  facsimile
telephone  number specified in this Agreement on a day that is not a Trading Day
or later than 4:30 p.m.  (New York City time) and earlier  than 11:59 p.m.  (New
York City time) on any Trading  Day, (c) the Trading Day  following  the date of
mailing, if sent by U.S. nationally recognized overnight courier service, or (d)
upon  actual  receipt by the party to whom such  notice is required to be given.
The address for such  notices  and  communications  shall be as set forth in the
Purchase Agreement.

          (h) This Agreement  constitutes the entire agreement among the parties
hereto with respect to the subject  matter  hereof.  There are no  restrictions,
promises,  warranties or  undertakings,  other than those expressly set forth or
referred  to  herein.  This  Agreement   supersedes  all  prior  agreements  and
undertaking among the parties hereto with respect to the subject matter hereof.

          (i) Successors and Assigns.  This Agreement shall inure to the benefit
of and be  binding  upon the  successors  and  permitted  assigns of each of the
parties  and shall  inure to the  benefit of each  Holder.  The  Company may not
assign its rights or obligations  hereunder without the prior written consent of
each Holder. Each Holder may assign its rights and obligations  hereunder in the
manner and to the extent permitted under the Purchase Agreement.

          (j)  Counterparts.  This  Agreement  may be  executed in any number of
counterparts,  each of which when so executed  shall be deemed to be an original
and, all of which taken together shall constitute one and the same Agreement. In
the event that any  signature  is  delivered  by  facsimile  transmission,  such
signature shall create a valid binding  obligation of the party executing (or on
whose behalf such signature is executed) the same with the same force and effect
as if such facsimile signature were the original thereof.

          (K)  GOVERNING  LAW;  VENUE;  WAIVER  OF  JURY  TRAIL.  ALL  QUESTIONS
CONCERNING THE CONSTRUCTION,  VALIDITY,  ENFORCEMENT AND  INTERPRETATION OF THIS
AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE
INTERNAL  LAWS OF THE  STATE OF NEW  YORK.  EACH  PARTY  AGREES  THAT ALL  LEGAL
PROCEEDINGS  CONCERNING  THE  INTERPRETATIONS,  ENFORCEMENT  AND  DEFENSE OF THE
TRANSACTIONS  CONTEMPLATED BY ANY OF THE TRANSACTION  DOCUMENTS (WHETHER BROUGHT
AGAINST  A PARTY  HERETO  OR ITS  RESPECTIVE  AFFILIATES,  DIRECTORS,  OFFICERS,
STOCKHOLDERS,  EMPLOYEES OR AGENTS) SHALL BE COMMENCED  EXCLUSIVELY IN THE STATE
AND U.S.  FEDERAL COURTS SITTING IN THE CITY OF NEW YORK,  BOROUGH OF MANHATTAN.
EACH PARTY HERETO HEREBY  IRREVOCABLY  SUBMITS TO THE

                                       16
<PAGE>

EXCLUSIVE  JURISDICTION OF THE STATE AND U.S. FEDERAL COURTS SITTING IN THE CITY
OF NEW YORK,  BOROUGH OF MANHATTAN FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER
OR IN  CONNECTION  HEREWITH  OR WITH  ANY  TRANSACTION  CONTEMPLATED  HEREBY  OR
DISCUSSED  HEREIN  (INCLUDING  WITH  RESPECT TO THE  ENFORCEMENT  OF ANY OF THIS
AGREEMENT), AND HEREBY IRREVOCABLY WAIVES, AND AGREES NOT TO ASSERT IN ANY SUIT,
ACTION  OR  PROCEEDING,  ANY  CLAIM  THAT IT IS NOT  PERSONALLY  SUBJECT  TO THE
JURISDICTION  OF ANY SUCH  COURT,  THAT  SUCH  SUIT,  ACTION  OR  PROCEEDING  IS
IMPROPER.  EACH PARTY  HERETO  HEREBY  IRREVOCABLY  WAIVES  PERSONAL  SERVICE OF
PROCESS  AND  CONSENTS  TO  PROCESS  BEING  SERVED IN ANY SUCH  SUIT,  ACTION OR
PROCEEDING  BY  MAILING A COPY  THEREOF  VIA  REGISTERED  OR  CERTIFIED  MAIL OR
OVERNIGHT  DELIVERY  (WITH EVIDENCE OF DELIVERY) TO SUCH PARTY AT THE ADDRESS IN
EFFECT FOR NOTICES TO IT UNDER THIS AGREEMENT AND AGREES THAT SUCH SERVICE SHALL
CONSTITUTE GOOD AND SUFFICIENT  SERVICE OF PROCESS AND NOTICE  THEREOF.  NOTHING
CONTAINED  HEREIN SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS
IN ANY MANNER PERMITTED BY LAW. EACH PARTY HERETO HEREBY IRREVOCABLY  WAIVES, TO
THE FULLEST  EXTENT  PERMITTED BY APPLICABLE  LAW, ANY AND ALL RIGHT TO TRIAL BY
JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY
OF THE TRANSACTION DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.
IF EITHER PARTY SHALL COMMENCE AN ACTION OR PROCEEDING TO ENFORCE ANY PROVISIONS
OF THIS AGREEMENT OR ANY TRANSACTION DOCUMENT, THEN THE PREVAILING PARTY IN SUCH
ACTION OR PROCEEDING  SHALL BE REIMBURSED BY THE OTHER PARTY FOR ITS  REASONABLE
ATTORNEYS  FEES AND  OTHER  REASONABLE  COSTS  AND  EXPENSES  INCURRED  WITH THE
INVESTIGATION, PREPARATION AND PROSECUTION OF SUCH ACTION OR PROCEEDING.

          (l) Cumulative  Remedies.  The remedies provided herein are cumulative
and not exclusive of any remedies provided by law.

          (m) Severability.  If any term, provision,  covenant or restriction of
this  Agreement  is held by a court of  competent  jurisdiction  to be  invalid,
illegal,  void  or  unenforceable,  the  remainder  of  the  terms,  provisions,
covenants  and  restrictions  set forth  herein  shall  remain in full force and
effect and shall in no way be affected, impaired or invalidated, and the parties
hereto  shall use their  reasonable  efforts to find and  employ an  alternative
means to achieve the same or substantially  the same result as that contemplated
by such term,  provision,  covenant or restriction.  It is hereby stipulated and
declared to be the  intention of the parties  that they would have  executed the
remaining terms, provisions, covenants and restrictions without including any of
such that may be hereafter declared invalid, illegal, void or unenforceable.

          (n) Headings.  The headings in this  Agreement are for  convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

                                       17
<PAGE>

                   [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
                           SIGNATURE PAGES TO FOLLOW]

                                       18
<PAGE>
          IN WITNESS WHEREOF, the parties have executed this Registration Rights
Agreement as of the date first written above.

                                      WOLVERINE TUBE, INC.

                                      By:
                                           ---------------------------------
                                      Name:
                                             -------------------------------

                                      Title: -----------------------------------

                                      Address for Notice:

                                      c/o Wolverine Tube, Inc.
                                      200 Clinton Avenue West, Suite 1000
                                      Huntsville, AL   35801
                                      Phone:  (256) 580-3500
                                      Fax:  (256) 580-3996
                                      Attn:  James E. Deason

                                      with a copy (which shall not constitute
                                      notice) to the Company) to:

                                      LeBoeuf, Lamb, Greene & MacRae LLP
                                      125 West 55th Street
                                      New York, NY   10019-5389
                                      Phone:  (212) 424-8000
                                      Fax:  (212) 424-8500
                                      Attn:   Lawrence A. Larose, Esq. and
                                              Matthew M. Ricciardi, Esq.

                   [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
                    SIGNATURE PAGES OF PURCHASERS TO FOLLOW]

<PAGE>
                                           THE ALPINE GROUP, INC.

                                           By:________________________
                                            Name:
                                            Title:

                                           Address for Notice:

                                           c/o The Alpine Group, Inc.
                                           One Meadowlands Plaza
                                           East Rutherford, New Jersey
                                           Phone: 201-549-4400
                                           Fax: (201) 549-4428
                                           Attn: Steven S. Elbaum

                                           With a copy (which shall not
                                           constitute notice) to each other
                                           Holder and to:

                                           Proskauer Rose LLP
                                           1585 Broadway
                                           New York, NY  10036-8299
                                           Facsimile No.:  (212) 969-2900
                                           Attn:  Ron R. Papa, Esq. and
                                                  Adam J. Kansler, Esq.

                                          PLAINFIELD SPECIAL SITUATIONS MASTER
                                          FUND LIMITED

                                           By:________________________
                                            Name:
                                            Title:

                                           c/o Plainfield Asset Management LLC
                                           55 Railroad Avenue
                                           Greenwich, CT 06830
                                           Phone:  (203) 302-1715
                                           Fax:  (203) 302-1779
                                           Attn: Thomas X. Fritsch

                                           With a copy (which shall not
                                           constitute notice) to each other
                                           Holder and to:

                                           Proskauer Rose LLP
                                           1585 Broadway
                                           New York, NY  10036-8299
                                           Facsimile No.:  (212) 969-2900
                                           Attn:  Ron R. Papa, Esq. and
                                                     Adam J. Kansler, Esq.

<PAGE>
                                                                         Annex A

                              Plan of Distribution

          The selling  stockholders  may, from time to time,  sell any or all of
their shares of common stock on any stock exchange,  market or trading  facility
on which the shares are traded or in private transactions. These sales may be at
fixed or negotiated prices. The selling  stockholders may use any one or more of
the following methods when selling shares:

o    ordinary brokerage transactions and transactions in which the broker-dealer
     solicits purchasers;

o    block trades in which the broker-dealer  will attempt to sell the shares as
     agent but may  position  and resell a portion of the block as  principal to
     facilitate the transaction;

o    purchases by a broker-dealer  as principal and resale by the  broker-dealer
     for its account;

o    an exchange  distribution  in accordance  with the rules of the  applicable
     exchange;

o    privately negotiated transactions;

o    short sales;

o    broker-dealers may agree with the selling  stockholders to sell a specified
     number of such shares at a stipulated price per share;

o    a combination of any such methods of sale; and

o    any other method permitted pursuant to applicable law.

          The selling stockholders may also sell shares under Rule 144 under the
Securities Act, if available, rather than under this prospectus.

          The selling  stockholders  may also engage in short sales  against the
box, puts and calls and other  transactions  in our securities or derivatives of
our securities and may sell or deliver shares in connection with these trades.

          Broker-dealers  engaged by the  selling  stockholders  may arrange for
other  brokers-dealers  to  participate  in sales.  Broker-dealers  may  receive
commissions or discounts from the selling stockholders (or, if any broker-dealer
acts as agent for the purchaser of shares,  from the purchaser) in amounts to be
negotiated.  The  selling  stockholders  do not  expect  these  commissions  and
discounts to exceed what is customary in the types of transactions involved. Any
profits on the  resale of shares of common  stock by a  broker-dealer  acting as
principal might be deemed to be underwriting  discounts or commissions under the
Securities  Act.  Discounts,   concessions,   commissions  and  similar  selling
expenses,  if any, attributable to the sale of shares will be borne by a selling
stockholder.  The selling  stockholders may agree to indemnify any

<PAGE>
agent, dealer or broker-dealer that participates in transactions involving sales
of the shares if  liabilities  are imposed on that person  under the  Securities
Act.

          The  selling  stockholders  may from  time to time  pledge  or grant a
security  interest  in some or all of the shares of common  stock  owned by them
and,  if they  default in the  performance  of their  secured  obligations,  the
pledgees or secured  parties may offer and sell the shares of common  stock from
time to time under this  prospectus  after we have  filed an  amendment  to this
prospectus under Rule 424(b)(3) or other applicable  provision of the Securities
Act of 1933  amending the list of selling  stockholders  to include the pledgee,
transferee or other  successors in interest as selling  stockholders  under this
prospectus.

          The selling  stockholders also may transfer the shares of common stock
in  other  circumstances,  in  which  case the  transferees,  pledgees  or other
successors  in interest  will be the selling  beneficial  owners for purposes of
this  prospectus and may sell the shares of common stock from time to time under
this prospectus  after we have filed an amendment to this prospectus  under Rule
424(b)(3) or other  applicable  provision of the Securities Act of 1933 amending
the list of selling  stockholders  to include the pledgee,  transferee  or other
successors in interest as selling stockholders under this prospectus.

          The selling  stockholders  and any  broker-dealers  or agents that are
involved  in  selling   the  shares  of  common   stock  may  be  deemed  to  be
"underwriters"  within the meaning of the Securities Act in connection with such
sales. In such event, any commissions  received by such broker-dealers or agents
and any profit on the resale of the shares of common stock purchased by them may
be deemed to be underwriting commissions or discounts under the Securities Act.

          We  are  required  to  pay  all  fees  and  expenses  incident  to the
registration of the shares of common stock, including the fees and disbursements
of counsel to the selling stockholders.  We have agreed to indemnify the selling
stockholders against certain losses, claims, damages and liabilities,  including
liabilities under the Securities Act.

          The selling  stockholders  have  advised us that they have not entered
into any agreements,  understandings  or arrangements  with any  underwriters or
broker-dealers  regarding the sale of their shares of common stock, nor is there
an underwriter or coordinating  broker acting in connection with a proposed sale
of shares of common stock by any selling stockholder.  If we are notified by any
selling  stockholder that any material  arrangement has been entered into with a
broker-dealer for the sale of shares of common stock, if required,  we will file
a supplement to this prospectus. If the selling stockholders use this prospectus
for any  sale of the  shares  of  common  stock,  they  will be  subject  to the
prospectus delivery requirements of the Securities Act.

          The  anti-manipulation  rules of  Regulation  M under  the  Securities
Exchange  Act of 1934 may apply to sales of our common stock and  activities  of
the selling stockholders.

<PAGE>
                                    EXHIBIT C

                              MANAGEMENT AGREEMENT

          This Management Agreement (this "Agreement") is made and entered into
as of ___________ __, 2007, by and between The Alpine Group, Inc., a Delaware
corporation ("AGI"), and Wolverine Tube, Inc., a Delaware corporation ("WTI").

                                    RECITALS

          AGI is a principal stockholder of WTI. WTI has requested that AGI
provide to it certain strategic, consulting and administrative services on the
terms provided in this Agreement.

          THEREFORE, the parties hereto agree as follows:

          1. Services. AGI shall provide or cause to be provided to WTI and its
subsidiaries, if, when and to the extent requested by WTI, the services
described in Exhibit A hereto which AGI will provide with its then-current
personnel and facilities and such other services as may be agreed to by the
parties (the "Services"). The Services shall include all services provided by
any employee of AGI for the benefit of WTI, unless any such person is or becomes
directly employed by WTI.

          2. Fees and Charges for Services. For all Services to be performed
hereunder, WTI shall pay to AGI a management fee in the amount of $1,250,000 per
year, payable in equal monthly installments. WTI shall reimburse and pay to AGI
all reasonable and customary out-of-pocket costs and expenses incurred by AGI in
providing the Services to WTI or any of its subsidiaries; provided, however,
that in no event shall WTI be obligated to reimburse such costs and expenses
which exceed the aggregate amount of $60,000 in any given quarter without the
approval of the Board of Directors of WTI. Any third parties whose services are
necessary in connection with the Services shall be engaged directly by, and with
the approval of, WTI.

          3. Payments.

          (a) AGI shall from time to time submit to WTI an invoice for all costs
and expenses associated with the Services for the applicable time period. All
invoices shall describe in reasonable detail any such costs and expenses.

          (b) Survival. The provisions of this Section y3 shall survive any
termination of this Agreement.

<PAGE>

          4. Performance of Services.

               (a) Degree of Care. AGI shall perform the Services with the same
degree of care, skill and prudence customarily exercised by it in respect of its
own business, operations and affairs.

               (b) Certain Limitations. Each party acknowledges that the
Services shall be provided only with respect to the businesses of WTI and its
subsidiaries as such businesses exist as of the date hereof or as otherwise
mutually agreed by the parties. AGI will not be obligated to provide Services
for the benefit of entities other than WTI and its subsidiaries.

               (c) Certain Information. WTI shall provide, and shall cause each
of its subsidiaries to provide, any information needed or requested by AGI from
WTI or such subsidiary, as the case may be, to perform the Services pursuant
hereto. If the failure to provide such information renders the performance of
any requested Service impossible or unreasonably difficult, AGI may, upon
reasonable notice to WTI, refuse to provide such Service.

          5. Limitations on Liability and Indemnification.

               (a) Limitations on Liability. Neither party shall have any
liability under this Agreement (including any liability for its own negligence)
for damages, losses or expenses suffered by the other party or its subsidiaries
as a result of the performance or non-performance of such party's obligations
hereunder, unless such damages, losses or expenses are caused by or arise out of
the willful misconduct or gross negligence of such party or a breach by such
party of any of the express provisions hereof. In no event shall either party
have any liability to the other party for indirect, incidental or consequential
damages that such other party or its subsidiaries or any third party may incur
or experience on account of the performance or non-performance of such party's
obligations hereunder, and in no event shall AGI's liability exceed the annual
fee paid to AGI hereunder.

               (b) Indemnification. WTI shall indemnify, defend and hold
harmless AGI and each of its directors, employees, agents and representatives
(the "Indemnified Parties") from and against all claims, liabilities, damages,
losses and expenses (including reasonable attorneys fees and expenses) caused by
or arising out of the performance or non-performance of its obligations under
this Agreement, except to the extent arising from the willful misconduct or
gross negligence of such Indemnified Parties.

               (c) Survival. The provisions of this Section y5 shall survive any
termination of this Agreement.

          6. Term of Agreement. This Agreement shall become effective on the
date hereof and shall automatically terminate on the second anniversary of the
date hereof. This Agreement may be terminated by either party effective 30 days
after giving notice to the other

                                       3
<PAGE>

party if such other party (a) commits willful misconduct or gross negligence
with respect to any of its obligations under this Agreement or (b) is in
material breach of any term or condition of this Agreement; provided that if
such breach is susceptible to cure, the party alleged to be in material breach
may cure such breach (other than a breach of any payment obligation hereunder)
within such 30-day period.

          7. Confidentiality. Each party will hold in trust and maintain
confidential and, except as required by law, not disclose to others without the
prior written approval of the other party, any information received by it from
the other party or developed or otherwise obtained by it in connection with the
performance of its obligations hereunder (the "Information"). Within 90 days
after the date of termination of this Agreement, each party will return to the
other party, or, with the written consent of the other party, destroy all
documents, data and other materials of whatever nature relating to the
businesses of the other party and its subsidiaries that it obtained in
connection with the performance of its obligations hereunder, provided that the
parties may retain any Information to the extent reasonably needed to comply
with applicable tax, accounting or financial reporting requirements or to
resolve any legal issues identified at the time of termination. The provisions
of this Section y7 shall survive any termination of this Agreement.

          8. Miscellaneous.

               (a) Successors and Assigns. This Agreement shall be binding upon
the parties hereto and their respective successors and permitted assigns and
shall inure to the benefit of the parties hereto and their respective successors
and permitted assigns. This Agreement may not be assigned by either party hereto
to any other person without the prior consent of the other parties hereto or in
connection with the sale of such party.

               (b) No Third-Party Beneficiaries. Except for the persons entitled
to indemnification pursuant to Section y5(b) hereof, each of whom is an intended
third-party beneficiary hereunder, nothing expressed or implied in this
Agreement shall be construed to give any person or entity other than the parties
hereto any legal or equitable rights hereunder.

               (c) Entire Agreement. This Agreement constitutes the entire
agreement among the parties with respect to the subject matter hereof.

               (d) Amendment. This Agreement may not be amended except by an
instrument signed by the parties hereto.

               (e) Waivers. Either party hereto may (i) extend the time for the
performance of any of the obligations or other act of the other party or (ii)
waive compliance with any of the agreements contained herein. No waiver of any
term shall be construed as a waiver of the same term, or a waiver of any other
term, of this Agreement. The failure of any party to assert any of its rights
hereunder will not constitute a waiver of any such rights.

                                       3
<PAGE>

               (f) Severability. If any provision of this Agreement is invalid,
illegal or incapable of being enforced by any rule of law or public policy, such
provision shall be deemed severable and all other provisions of this Agreement
shall nevertheless remain in full force and effect.

               (g) Notices. All notices given in connection with this Agreement
shall be in writing. Service of such notices shall be deemed complete (i) if
hand delivered, on the date of delivery, (ii) if my mail, on the fourth business
day following the day of deposit in the United States mail, by certified or
registered mail, first-class postage prepaid, or (iii) if sent by FedEx or
equivalent courier service, on the next business day. Such notices shall be
addressed to the parties at the following addresses or at such other address for
a party as shall be specified by like notice (except that notices of change of
address shall be effective upon receipt):

                  If to AGI:        The Alpine Group, Inc.
                                    One Meadowlands Plaza
                                    Suite 200
                                    East Rutherford, NJ 07073
                                    Facsimile:  (201) 549-4428
                                    Attention:  Steven S. Elbaum

                  If to WTI:        Wolverine Tube, Inc.
                                    200 Clinton Avenue West
                                    Suite 1000
                                    Huntsville, AL 35801
                                    Facsimile:  (256) 580-3996
                                    Attention:  James E. Deason

               (h) Governing Law. This Agreement shall be governed by, and
construed in accordance with, the law of the State of New York, without giving
effect to the principles of conflict of laws of such State.

               (i) Counterparts. This Agreement may be executed in counterparts,
each of which shall be an original, but all of which together shall constitute
but on and the same instrument.

                                    ********

<PAGE>

          IN WITNESS WHEREOF, AGI and WTI have caused this Agreement to be
executed on the date first above written.

                             THE ALPINE GROUP, INC.

                             By:  ______________________________

                             WOLVERINE TUBE, INC.

                             By:  ______________________________

<PAGE>
                                                                       EXHIBIT A

                                    Services

     (a)  Advice and assistance with business plans and budgets

     (b)  Advice and assistance with respect to strategic planning and oversight

     (c)  Advice and assistance with respect to development and implementation
          of business models

     (d)  Advice and assistance with respect to corporate development, including
          acquisitions and divestitures

     (e)  Advice and assistance with respect to corporate finance, including
          debt and equity financings

     (f)  Advice and assistance with respect to banking matters, including,
          without limitation, borrowing and other credit facilities

<PAGE>
                                   EXHIBIT D-1

          OPINION MATTERS(1) FOR LEBOEUF, LAMB, GREENE & MACRAE LLP FOR

                              WOLVERINE TUBE, INC.

          1. Wolverine Tube, Inc. (the "Company") is in good standing under the
laws of the State of Delaware.

          2. Each of the Subsidiaries is in good standing under its respective
state of incorporation.

          3. The Company has all requisite power and authority to execute,
deliver and perform the Agreement and each of the other Transaction Documents,
to issue, sell and deliver the Securities pursuant to the Transaction Documents,
and to carry out and perform its obligations under, and to consummate the
transactions contemplated by, the Transaction Documents.

          4. All corporate action on the part of the Company, its directors and
its stockholders necessary for the authorization, execution and delivery by the
Company of the Transaction Documents, the authorization, issuance, sale and
delivery of the Securities, pursuant to the Agreement, and the consummation by
the Company of the transactions contemplated by the Transaction Documents, has
been duly taken. The Transaction Documents have been duly and validly executed
and delivered by the Company and constitute the legal, valid and binding
obligation of the Company, enforceable against the Company in accordance with
their respective terms.

          5. Based in part upon the representations of the Purchasers contained
in the Agreement, the Shares may be issued to the Purchasers without
registration under the Securities Act.

          6. The execution, delivery and performance by the Company of, and the
compliance by the Company with the terms of, the Transaction Documents, the
issuance, sale and delivery of the Securities pursuant to the Agreement do not,
and the issuance and delivery of the Underlying Shares will not (a) conflict
with or result in a violation of any provision of law, rule or regulation known
to us to be applicable to the Company or its Subsidiaries or of the certificate
of incorporation or by-laws or other similar organizational documents of the
Company or its Subsidiaries or (b) conflict with, result in a breach of or
constitute a default (or an event which with notice or lapse of time or both
would become a default) under, or result in or permit the termination,
acceleration or modification of, any agreement, instrument, order, writ,
judgment or decree known to us to which the Company of its Subsidiaries is a
party or is subject.

          7. No consent, license, permit, waiver, approval or authorization of,
or designation, declaration, registration or filing with, any court,
governmental or regulatory body or agency or self-regulatory organization is
required in connection with the valid execution,

_____________________
(1)  Capitalized terms used but not defined herein shall have the respective
     meanings set forth in the Preferred Stock Purchase Agreement.

<PAGE>

delivery and performance by the Company of the Transaction Documents, or the
offer, sale, issuance or delivery of the Securities or the consummation of the
transactions contemplated by the Transaction Documents.

          8. The Company is not an Investment Company within the meaning of the
Investment Company Act of 1940, as amended.

<PAGE>

                                   EXHIBIT D-2

                   OPINION MATTERS(1) FOR IN-HOUSE COUNSEL OF

                              WOLVERINE TUBE, INC.

          1. Wolverine Tube, Inc. (the "Company") is a corporation duly
organized and validly existing under the laws of the State of Delaware. The
Company is duly qualified to conduct business and is in good standing in each
jurisdiction in which the failure to qualify could have a material adverse
effect on the Company. The Company has all requisite power and authority, and
all material governmental licenses, authorizations, consents and approvals
required to own and operate its properties and assets and to carry on its
business as now conducted.

          2. Each of the Subsidiaries is a corporation duly organized under its
respective state of incorporation.

          3. The execution, delivery and performance by the Company of, and the
compliance by the Company with the terms of, the Transaction Documents, the
issuance, sale and delivery of the Securities pursuant to the Agreement do not,
and the issuance and delivery of the Underlying Shares will not result in the
creation or imposition of any lien, claim or encumbrance on any of the Company's
or its Subsidiaries' assets or properties.

          4. To our knowledge, since January 1, 2004, the Company has filed all
reports (the "SEC Documents") required to be filed by it under Sections 13(a)
and 15(d) of the Exchange Act. As of their respective filing dates, the SEC
Documents complied in all material respects as to form with the requirements of
the Exchange Act and the rules and regulations of the SEC promulgated
thereunder.

          5. To our knowledge, there is no claim, action, suit, proceeding,
arbitration, investigation or inquiry pending or threatened, before any court,
governmental or administrative body or agency, private arbitration tribunal or
self-regulatory organization against the Company or its Subsidiaries, or any of
its officers, directors or employees (in connection with the discharge of their
duties as officers, directors and employees), or affecting any of its properties
or assets which would be required to be disclosed under the Exchange Act or in
the Schedules to the Agreement.

______________________
(1)  Capitalized terms used but not defined herein shall have the respective
     meanings set forth in the Preferred Stock Purchase Agreement.

<PAGE>
                                   EXHIBIT E-1

                              CONSULTING AGREEMENT

          THIS CONSULTING AGREEMENT (this "Agreement"), is made and entered into
as of the __ day of  January,  2007,  by and between  Wolverine  Tube,  Inc.,  a
Delaware corporation ("Wolverine") and Johann R. Manning, Jr. ("Manning").  This
Agreement is executed on the date first written above, but shall be effective on
the effective date of the Investment,  as defined below (the "Effective  Date"),
and only if the Investment occurs on or before February 28, 2007.

                                    RECITALS

          WHEREAS,   Plainfield   Special   Situations   Master   Fund   Limited
("Plainfield") and The Alpine Group, Inc.  ("Alpine") have made an investment in
Wolverine in which Plainfield and Alpine, as a group, beneficially own in excess
of 15% of the voting power of the stock of Wolverine (the "Investment"); and

          WHEREAS,  Manning served as the President and Chief Executive  Officer
of Wolverine  until the  effective  date of the  Investment,  and entered into a
Separation  Agreement  with  Wolverine  effective  as of the  date  hereof  (the
"Separation Agreement"); and

          WHEREAS,  Wolverine  desires  to engage  Manning  to  provide  certain
consulting  services to Wolverine for a reasonable  transition  period following
the Investment,  and Manning is willing to provide such  consulting  services to
Wolverine; and

          WHEREAS,  the  parties  hereto  desire to set forth  their  respective
rights and obligations with respect to the consulting arrangement.

          NOW,  THEREFORE,  the parties hereto,  in  consideration of the mutual
promises recited herein, agree as follows:

          1. Consulting Arrangement.

          (a) During the term of this Agreement, at Wolverine's request, Manning
shall provide advisory consulting services to Wolverine for up to nine (9) hours
per week,  which are intended  primarily  to be made by telephone  consultation.
However,  Manning will provide such  consulting  services in person from time to
time if so requested by Wolverine, provided that such travel and meeting time is
mutually agreeable to Manning and Wolverine.

          (b) Manning's  consulting duties shall include the following  specific
matters, and any other matters as may be requested by Wolverine:  (a) advice and
assistance  with regard to the transition of the business in connection with the
Investment,  (b) promoting

<PAGE>

relationships with Wolverine's employees,  customers and constituents within the
business and  financial  communities,  (c)  continuing  and  developing  banking
relationships  and relationships  with domestic and international  suppliers and
customers,  (d)  participating  in  strategic  planning  and  helping  formulate
business plans; (e) assisting in efforts to arrange adequate  financing to carry
out business plans; and (f) rendering  consulting services to any joint venture,
subsidiary or affiliated business of Wolverine.

          (c) The consulting and advisory  services  described in this Agreement
shall be of a type and  level  commensurate  with the  consulting  and  advisory
services customarily provided by senior level executives to public companies.

          2. Term and  Termination.  The term of this  Agreement  shall be for a
period of fifteen (15) months  commencing on the Effective Date and the services
provided by Manning hereunder shall terminate on the 15-month anniversary of the
Effective Date,  unless the term is extended by mutual  agreement of the parties
or terminated earlier as provided herein.

          3. Compensation and Benefits.

          (a)  Wolverine  shall pay  Manning a fee at a monthly  rate of $20,000
(the  "Consulting  Fee"),  payable in advance on the  Effective  Date and on the
first day of each  month  thereafter  during the Term of this  Agreement,  for a
total of fifteen (15) payments.

          (b) In addition,  Manning shall earn a  performance  bonus of $175,000
for services rendered under this Agreement if Wolverine achieves at least 70% of
its EBITDA target applicable to the senior managers of Wolverine,  including the
President and Chief Executive  Officer,  for the fiscal year ending December 31,
2007 (the  "Performance  Bonus").  If earned,  such bonus shall be paid no later
than March 1, 2008.

          (c)  During  the term of this  Agreement,  Wolverine  shall  reimburse
Manning for reasonable  travel and lodging  expenses  incurred at the request of
Wolverine in connection  with the  performance  of services  rendered under this
Agreement.  Manning shall submit an application for such reimbursement in a form
acceptable   to  Wolverine   and  shall   provide  all  backup  and   supporting
documentation.

          (d) No additional  compensation or fee, other than the Consulting Fee,
the Performance Bonus or amounts payable under the Separation  Agreement,  shall
be payable by Wolverine to Manning by reason of any benefit  gained by Wolverine
directly or indirectly  through  Manning's  efforts on Wolverine's  behalf,  nor
shall  Wolverine  be liable  in any way for any  additional  compensation,  fee,
expense  reimbursement,  or any other amounts  unless the parties have expressly
agreed thereto in writing.

                                      -2-
<PAGE>

4. Independent Contractor Status.

          (a)  Manning  is an  independent  contractor  and is not an  agent  of
Wolverine.  Manning shall not represent himself as an agent of Wolverine and may
not commit or obligate Wolverine in any way to other parties.

          (b) Manning shall have no authority, nor shall he represent himself as
having any authority, to bind Wolverine in any manner whatsoever.

          (c)  Federal,  state and local  income  tax,  occupational  tax and/or
payroll tax of any kind shall not be withheld or paid by  Wolverine on Manning's
behalf. Manning shall not be treated as an employee with respect to the services
performed hereunder for federal, state and/or local tax purposes. Wolverine will
report the amounts paid to Manning  pursuant to this  Agreement on IRS Form 1099
to the extent  required  under the Internal  Revenue  Code of 1986,  as amended.
Manning agrees to pay any applicable federal,  state and/or local taxes required
by law due on account of the fees paid to Manning pursuant to this Agreement.

          5.  Indemnification.  Wolverine hereby agrees to indemnify Manning and
hold Manning  harmless to the fullest extent permitted by applicable law against
and in respect to any and all  actions,  suits,  proceedings,  claims,  demands,
judgments,  costs,  expenses (including reasonable attorney's fees), losses, and
damages  resulting from and Manning's  good faith  performance of his duties and
obligations to Wolverine  hereunder.  This provision is in addition to any other
rights of indemnification Manning may otherwise have with respect to Wolverine.

          6.  Confidentiality.  Manning acknowledges that he will have access to
Confidential  Information (as hereinafter defined) of Wolverine.  Manning agrees
not to  disclose,  communicate  or divulge to, or use for the direct or indirect
benefit of any person (including Manning), firm, association or any other entity
(other than Wolverine or its affiliates) any Confidential Information other than
in the good faith  performance  of its duties or in response to a legal process.
"Confidential  Information"  includes,  but is not limited to, and regardless of
whether  such   information  has  been  reduced  to  writing  or  designated  as
confidential,  but only to the  extent  not  generally  known  in the  industry,
customer and vendor lists  (including  any  prospective  customers and vendors),
database,  computer  programs,  frameworks,  models,  products,  facilities  and
methods, marketing programs, sales, financial information,  marketing,  training
and technical  information,  business methods,  business  policies,  procedures,
techniques,  research or development  projects or results,  trade secrets (which
includes  Wolverine's  customer,  vendor  and  prospective  customer  and vendor
lists), systems,  procedures,  manuals,  confidential reports, pricing policies,
business plans, computer software, intellectual property, information concerning
how  Wolverine  creates,  develops,  acquires  or  maintains  its  products  and
marketing plans, targets its potential  customers,  and operates its businesses,
and any other information not otherwise  available to the general public. If any
person (including any government agency and/or employee) requests in writing the
disclosure or release of Confidential Information,  Manning shall, to the extent
legally  permissible,

                                      -3-
<PAGE>

immediately  (a) notify  Wolverine of such request so that  Wolverine may pursue
any available remedies to prevent the disclosure or release of such Confidential
Information  and  (ii)  furnish  Wolverine  a  copy  of  all  written  materials
pertaining to such request for Confidential  Information as Wolverine shall deem
appropriate.

          7.  Legal  Fees;  Costs  of  Enforcement.  Wolverine  shall  reimburse
Manning,  on a current basis, for all reasonable legal fees and related expenses
incurred  by  Manning  in  connection  with  this  Agreement   (other  than  the
negotiation of this Agreement),  including without limitation, all such fees and
expenses,  if any, incurred by Manning in seeking to obtain or enforce any right
or benefit  provided by this  Agreement,  regardless of whether or not Manning's
claim is  upheld  by an  arbitral  panel or a court of  competent  jurisdiction;
provided,  however,  Manning  shall be required to repay to  Wolverine  any such
amounts  to the  extent  that an  arbitral  panel or a court  issues a final and
non-appealable order, judgment,  decree or award setting forth the determination
that the position  taken by Manning was  frivolous or advanced by Manning in bad
faith.

          8. General Provisions.

          (a) This  Agreement  shall be binding upon and inure to the benefit of
the parties and their  successors and permitted  assigns.  Manning's  rights and
obligations  under this  Agreement  may not be assigned  without  prior  written
consent of  Wolverine.  Wolverine  may not  assign  its  rights and  obligations
hereunder without the prior written consent of Manning, except to a successor to
all or  substantially  all of the  assets  of  Wolverine  and then  only if such
assignee  promptly  delivers to Manning a written  assumption of the obligations
hereunder.

          (b) All matters  affecting  this  Agreement,  including  the  validity
thereof,  are to be governed by, and  interpreted  and  construed in  accordance
with, the laws of the State of Alabama  applicable to contracts  executed in and
to be performed in that State.

          (c) This  Agreement,  together with the  Separation  Agreement,  shall
constitute  the sole  agreement  between the parties  hereto with respect to the
subject  matter  hereof  and shall  supersede  any and all prior  agreements  or
understandings  relating to the subject matter hereof. No change or amendment to
this Agreement shall be binding unless in writing and signed by both parties.

          (d) This Agreement may be executed in two or more  counterparts,  each
of which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

          (e) The headings in this  Agreement are for reference  only, and shall
not affect the meaning or interpretation of this Agreement.

          (f) In the  event  that  any  provision  of this  Agreement  shall  be
declared to be invalid,  illegal or unenforceable,  such provision shall survive
to  the  extent  it  is  not  so  declared,  and  the  validity,   legality  and
enforceability  of the other provisions  hereof shall

                                      -4-
<PAGE>

not in any way be  affected  or  impaired  thereby,  unless  such  action  would
substantially  impair the benefits to any party of the  remaining  provisions of
this Agreement.

          IN WITNESS WHEREOF,  the parties hereto have caused this instrument to
be signed as of the date first written above.

                                       WOLVERINE TUBE, INC.

                                       By:____________________

                                       CONSULTANT

                                       _______________________
                                       Johann R. Manning, Jr.

                                      -5-

<PAGE>
                                   EXHIBIT E-2
                                   -----------

                          SEPARATION AGREEMENT BETWEEN
                 WOLVERINE TUBE, INC. AND JOHANN R. MANNING, JR.

          This Separation  Agreement (this "Agreement")  between Wolverine Tube,
Inc.  ("Wolverine") and Johann R. Manning, Jr. ("Manning") controls the terms of
the severance of the  relationship  between the two parties and their respective
rights and  obligations  to each other.  This Agreement is executed on the dates
shown by the signatures  below,  but shall be effective on the effective date of
the  Investment,  as  defined  below  (the  "Effective  Date"),  and only if the
Investment occurs on or before February 28, 2007.

                                    Recitals

          WHEREAS,   Plainfield   Special   Situations   Master   Fund   Limited
("Plainfield")  and The Alpine  Group,  Inc.  ("Alpine")  have agreed to make an
investment  in  Wolverine  in which  Plainfield  and Alpine,  as a group,  would
beneficially  own in excess of 15% of the voting power of the stock of Wolverine
(the "Investment"); and

          WHEREAS,  in connection  with and  contingent  upon the closing of the
Investment,   Manning  and  Wolverine   wish  to  sever  the   employee-employer
relationship  between  the  two  parties  on  amicable  terms  and  in a  manner
beneficial to and respectful to the desires of both parties; and

          WHEREAS,  Manning and  Wolverine  previously  have entered into a 2002
Change in Control, Severance and Non-Competition Agreement, effective as of July
12, 2002, as amended (the "2002 Change in Control Agreement"); and

          WHEREAS,  the  Investment  will  constitute  a Change  in  Control  of
Wolverine for purposes of the 2002 Change in Control Agreement; and

          WHEREAS, in order to avoid any dispute that could arise under the 2002
Change  in  Control   Agreement  in  connection  with  the  Investment  and  the
transactions  contemplated  thereby,  the  parties  have  agreed to replace  and
supersede certain provisions of the 2002 Change in Control Agreement, contingent
upon closing of the Investment; and

          WHEREAS,  on or  about  the  date of the  closing  of the  Investment,
Manning  shall  enter into a  Consulting  Agreement  with  Wolverine  to provide
consulting services for fifteen (15) months (the "Consulting Agreement");

          NOW, THEREFORE,  in consideration of the recitals and mutual covenants
and agreements set forth below, the parties, each intending to be legally bound,
agree as follows:

<PAGE>

          1. Resignation of Employment.  Manning hereby voluntarily  resigns his
employment  with  Wolverine  and  all  its  subsidiaries  effective  immediately
following the closing of the Investment  (the  "Resignation  Date").  If for any
reason the Investment  does not occur by February 28, 2007, this Agreement shall
be null and  void,  Manning's  resignation  shall  be  deemed  not to have  been
tendered,  and the 2002 Change in Control Agreement shall continue in full force
as in effect on the date immediately prior to the execution of this Agreement.

          2. Compensation,  Benefits, and Other Consideration. The parties agree
that,  immediately upon the closing of the Investment,  and subject to Section 5
of this Agreement,  Section 1 of the 2002 Change in Control Agreement  (entitled
"Termination of Employment")  shall be superseded and will have no further force
or effect,  and the  parties  will have no  further  rights  and/or  obligations
thereunder.  In exchange  for the Release  provided to  Wolverine  by Manning as
referenced in Section 8 of this  Agreement,  Wolverine  hereby agrees to provide
Manning with consideration consisting of the following:

          (a) All  stock  options,  restricted  stock and  other  equity  awards
granted by  Wolverine  and held by Manning as of the  Resignation  Date,  to the
extent not already vested by their terms,  shall become  immediately  vested and
exercisable as of the Resignation  Date. The value, if any,  attributable to the
acceleration  of vesting of such  equity  awards  that  constitutes  a parachute
payment to Manning under  Sections 280G or 4999 of the Internal  Revenue Code of
1986, as amended  ("Code"),  as determined  under Section 3 of this Agreement is
referred to herein as the "Equity Parachute Value."

          (b) On or before the Resignation Date,  Wolverine shall deposit into a
rabbi trust for the benefit of Manning,  a lump sum cash severance  payment (the
"Severance  Payment") equal to (i) $1,480,000,  minus (ii) the Equity  Parachute
Value.  Provided that Manning shall have signed the Release  attached  hereto as
Appendix A and not revoked such Release during the seven-day  revocation period,
the Severance Payment shall be paid to Manning out of the rabbi trust on the day
following the six (6) month anniversary of the Resignation Date.

          (c) For a period  of three  (3)  years  after  the  Resignation  Date,
Wolverine  shall make  available  to Manning  medical  and  disability  benefits
substantially similar to those that Manning was receiving or entitled to receive
immediately  prior to the Resignation  Date, and no less favorable than those in
which the senior  executive  management  team of Wolverine  shall be eligible to
participate  during such period,  and if Manning shall choose to  participate in
such benefit programs,  he shall pay the full "phantom cost" (i.e., the employee
and  employer  portion of the costs) of his  participation  in such  programs as
determined  by  Wolverine's  employee  benefits  firm  for  the  period  of  his
participation.  Beginning at the end of such  three-year  period,  Manning shall
have  rights to  continue  medical  insurance  coverage  under the  Consolidated
Omnibus Budget Reconciliation Act of 1985 ("COBRA").

                                       2
<PAGE>

          (d) For a period of six (6) years after the Resignation Date,  Manning
shall be entitled to director  and officer  insurance  coverage for his acts and
omissions  while  serving as an officer and  director of Wolverine on a basis no
less  favorable to him than the coverage  provided over such six-year  period to
the then-current officers and directors of Wolverine.

          (e) Wolverine shall continue to satisfy in full any currently existing
or hereafter arising indemnification  obligations to Manning (whether arising by
law,  Wolverine's bylaws or pursuant to any separate  indemnification  agreement
between Wolverine and Manning).

          (f) Wolverine  shall honor and pay any and all bonus and success share
monies achieved on account of 2006 performance of Wolverine to Manning that have
not  already  been paid,  consistent  with and at the same time as  amounts  are
awarded to other participants of these programs, up to a maximum of $55,000.

          Nothing in this Agreement affects any vested rights Manning has in any
retirement,  welfare or benefit  plans,  programs or policies of Wolverine as of
the Resignation Date.

          Manning  agrees and  acknowledges  that the  aggregate  amount of cash
payable pursuant to this Agreement and the Consulting Agreement shall not exceed
$3,085,000 (the "Aggregate Amount").  The Aggregate Amount does not apply to (i)
vested  rights  Manning has in any  retirement,  welfare or benefit  plan,  (ii)
director and officer insurance coverage (or amounts payable  thereunder),  (iii)
Wolverine's indemnification obligations, (iv) legal fees or (v) reimbursement of
travel-related  expenses  incurred at Wolverine's  request,  in each case to the
extent such amounts or rights are provided  for in the  Separation  Agreement or
the Consulting  Agreement.  Notwithstanding the foregoing,  the Aggregate Amount
shall not apply if the  provisions  of the 2002 Change of Control  Agreement are
reinstated in accordance with Section 5 of this Agreement.

          3.  Golden  Parachute  Considerations.   In  the  event  it  shall  be
determined  that any payments and/or benefits would be subject to the excise tax
imposed by Section 4999 of Code or to any similar tax imposed by federal,  state
or local law, or any other revenue  system to which  Manning may be subject,  or
any  interest or  penalties  with  respect to that tax (that tax or those taxes,
together with any interest and  penalties,  may be hereafter  referred to as the
"Excise Tax"),  then, Manning shall be solely responsible for paying such Excise
Tax and Wolverine shall have no liability to Manning for such Excise Tax.

          4.  Secrecy,  Non-Solicitation  and  Non-Competition.   Following  the
Resignation Date, Manning agrees to adhere to the secrecy,  non-solicitation and
non-competition  restrictions  and  equitable  relief  provisions  contained  in
Section 2 of the 2002 Change in Control Agreement, which are hereby incorporated
into this Agreement by reference (other than Section  2(d)(i)).  Notwithstanding
the  foregoing,  the parties  agree that  Section  2(d)(i) of the 2002 Change in
Control  Agreement  is hereby  deleted  in its  entirety.  In  consideration  of
Manning's  promises  under  this  Section  4,  Wolverine  shall

                                       3
<PAGE>

pay to Manning a non-compete and  non-solicitation  fee equal to $1,035,000 (the
"Non-compete  and  Non-solicitation  Fee"). On or before the  Resignation  Date,
Wolverine shall pay the Non-compete and  Non-solicitation Fee into a rabbi trust
for the benefit of Manning.  The Non-compete and  Non-solicitation  Fee shall be
paid to Manning  out of the rabbi trust on the day  following  the six (6) month
anniversary of the Resignation Date.

          5. Termination of 2002 Change in Control Agreement. The parties hereto
agree  that,  except  for  Manning's   obligation  to  adhere  to  the  secrecy,
non-solicitation  and  non-competition  and equitable  relief  provisions  under
Section 4 above,  and except as provided  in the  following  sentence,  the 2002
Change in Control  Agreement shall be terminated as of the Resignation  Date and
Manning  shall not be due any  payments  or  benefits  under the 2002  Change in
Control Agreement. Notwithstanding the foregoing, if after the Resignation Date,
Wolverine  defaults in the timely  payment or provision to Manning of any amount
or  benefit  under  this  Agreement,  after  notice by  Manning  and  failure by
Wolverine to cure such default  within three (3) business days of such notice by
Manning,  this Agreement (other than Section 9(b) hereof) shall be null and void
and the provisions of the 2002 Change in Control  Agreement  shall be reinstated
in full  force and  effect,  retroactive  to the date  immediately  prior to the
Resignation Date, such that Manning shall be deemed to have voluntarily resigned
following a Change in Control  under  Section 1(b) of the 2002 Change in Control
Agreement;  provided,  however,  that the  reinstatement  of the 2002  Change in
Control  Agreement  shall not result in any  duplication  of benefits under this
Agreement.

          6. Cooperation Regarding Disclosure of Termination. The parties hereto
agree that they shall  cooperate  in good faith to reach mutual  agreement  with
respect  to any  disclosures  regarding  Manning's  termination  of  employment,
including (i) the timing of any internal  announcement,  and (ii) the content of
any press release or required SEC filing.

          7.  Non-disparagement.  Subject to the  obligation  required by law to
provide  truthful  testimony in  governmental  inquires or  proceedings  and the
obligation to provide truthful testimony in legal proceedings, (a) the officers,
directors and senior  management of Wolverine  shall not do or say anything that
criticizes or disparages  Manning,  personally or professionally or in any other
respect, and (b) Manning agrees not to do or say anything that (i) criticizes or
disparages  the  management,  practices  or products of  Wolverine or any of its
affiliates,  or (ii) disrupts or impairs the normal, ongoing business operations
of Wolverine or any of its affiliates.

          8. Release of Claims.  On the Effective Date, the parties hereto shall
sign the Mutual Release of Claims in the form attached hereto as Appendix B.

          9. Legal Fees; Costs of Enforcement.

          (a) In  addition,  Wolverine  shall  reimburse  Manning,  on a current
basis, for all reasonable legal fees and related expenses incurred by Manning in
connection  with this Agreement from and after the Resignation  Date,  including
without limitation,  all such

                                       4
<PAGE>

fees and expenses,  if any,  incurred by Manning in seeking to obtain or enforce
any right or benefit  provided by this  Agreement,  in each case,  regardless of
whether  or not  Manning's  claim is upheld by an  arbitral  panel or a court of
competent jurisdiction; provided, however, Manning shall be required to repay to
Wolverine  any such  amounts to the  extent  that an  arbitral  panel or a court
issues a final and non-appealable order, judgment, decree or award setting forth
the  determination  that the position taken by Manning was frivolous or advanced
by Manning in bad faith.

          (b) In the event that the 2002  Change in Control  Agreement  shall be
reinstated  pursuant to Section 5 of this  Agreement,  Wolverine shall reimburse
Manning, on a current basis, for all reasonable legal fees and related expenses,
if any, incurred by Manning in seeking to obtain or enforce any right or benefit
provided by the 2002 Change in Control  Agreement,  in each case,  regardless of
whether  or not  Manning's  claim is upheld by an  arbitral  panel or a court of
competent jurisdiction; provided, however, Manning shall be required to repay to
Wolverine  any such  amounts to the  extent  that an  arbitral  panel or a court
issues a final and non-appealable order, judgment, decree or award setting forth
the  determination  that the position taken by Manning was frivolous or advanced
by Manning in bad faith.

          10. Withholding.  Payments to Manning of all compensation contemplated
under this Agreement shall be subject to all applicable legal  requirements with
respect to the withholding of taxes and similar deductions.

          11. Notices.  Any notice  hereunder by either party to the other shall
be given in writing by  personal  delivery or  certified  mail,  return  receipt
requested.  If addressed to Manning,  the notice shall be delivered or mailed to
Manning at the address first set forth below, or if addressed to Wolverine,  the
notice  shall be delivered  or mailed to 200 Clinton  Avenue  West,  Suite 1000,
Huntsville, Alabama 35801, or such address as Wolverine or Manning may designate
by written  notice at any time or from time to time to the other party. A notice
shall be deemed given, if by personal delivery, on the date of such delivery or,
if by certified mail, on the date shown on the applicable return receipt.

          12. No Waiver.  Wolverine  and  Manning  agree that any failure of one
party  to  demand  rigid  adherence  to one or  more of the  provisions  of this
Agreement,  on one or  more  occasions,  shall  not be  construed  as a  waiver,
estoppel,  or release,  nor shall any such failure ever deprive  either party of
the right to insist upon strict compliance.

          13. Code Section 409A.  Wolverine and Manning  intend for all payments
and benefits under this Agreement to be either outside the scope of Section 409A
of the Code or to  comply  with  its  requirements  as to  timing  of  payments.
Accordingly,  to the extent  applicable,  this  Agreement  shall at all times be
operated in  accordance  with the  requirements  of Section 409A of the Code, as
amended,  and the regulations and rulings  thereunder,  including any applicable
transition  rules.  Wolverine  and Manning  shall take  action,  or refrain from
taking  any  action,  with  respect  to the  payments  and  benefits  under this
Agreement   that  is   reasonably   necessary  to  comply  with  Section   409A.
Notwithstanding any provision in this Agreement to the contrary,  if the payment
of any

                                       5
<PAGE>

compensation  or benefit  hereunder  would be subject  to  additional  taxes and
interest  under  Section  409A of the Code because the timing of such payment is
not  delayed as  provided in Section  409A(a)(2)(B)  of the Code,  then any such
payment or benefit that Manning would  otherwise be entitled to during the first
six (6) months  following the date of Manning's  termination of employment shall
be accumulated and paid or provided, as applicable,  on the date that is six (6)
months and one day after the date of Manning's  termination of employment (or if
such date  does not fall on a  business  day of  Wolverine,  the next  following
business day of  Wolverine),  or such earlier date upon which such amount can be
paid or provided  under  Section 409A of the Code without  being subject to such
additional  taxes and interest.  The preceding  sentence shall apply only to the
extent required to avoid Manning's  incurrence of any additional tax or interest
under  Section  409A  of  the  Code  or the  regulations  or  Treasury  guidance
promulgated  thereunder.  14.  Severability.  In the event that any provision of
this Agreement shall be declared to be invalid,  illegal or unenforceable,  such
provision  shall survive to the extent it is not so declared,  and the validity,
legality and  enforceability of the other provisions hereof shall not in any way
be affected or impaired thereby,  unless such action would substantially  impair
the benefits to any party of the remaining provisions of this Agreement.

          15. Modification. No modification,  amendment, or waiver of any of the
provisions  of  this  Agreement  shall  be  effective  unless  made  in  writing
specifically referring to this Agreement and signed by each of the parties.

          16. Governing Law. All matters affecting this Agreement, including the
validity  thereof,  are to be governed  by, and  interpreted  and  construed  in
accordance  with,  the laws of the  State of  Alabama  applicable  to  contracts
executed in and to be performed in that State.  Nothing in this agreement  shall
affect  the  rights  of either  party  under  state or  federal  laws  affecting
employment.

          17. Entire Agreement.  This instrument,  and the Consulting Agreement,
constitutes the entire agreement between the parties with respect to the subject
matter hereof.  Except as specifically  referenced herein, all prior agreements,
representations,  and  promises  between the parties with respect to the subject
matter hereof are superseded by this Agreement.

          18.  Counterparts.  This  Agreement  may be  executed  in two or  more
counterparts,  each of  which  shall be  deemed  an  original,  but all of which
together shall constitute one and the same instrument.

                                       6
<PAGE>

          IN WITNESS  WHEREOF,  Manning and Wolverine have caused this Agreement
to be executed on this the ___ day of  _________,  200_,  both  intending  to be
fully and legally bound.

                                            WOLVERINE TUBE, INC.

                                            By: ________________________________
                                            Its: _______________________________

                                            ____________________________________
                                            JOHANN R. MANNING, JR.

                                            Address for Notice:
                                            1205 Deborah Drive
                                            Huntsville, Alabama 35801

          Plainfield  Special  Situations  Master  Fund  Limited  and The Alpine
Group,  Inc.  have caused this  Agreement  to be executed on this the ___ day of
________,  2007,  indicating their  acknowledgement  of and concurrence with the
terms  hereof,  as  substantial  shareholders  of  Wolverine  from and after the
Investment.

                                            PLAINFIELD SPECIAL SITUATIONS MASTER
                                            FUND LIMITED

                                            By: ________________________________
                                            Its: _______________________________

                                            THE ALPINE GROUP, INC.

                                            By: ________________________________
                                            Its: _______________________________

                                       7
<PAGE>

                                   Appendix A
                                   ----------

                            Mutual Release of Claims

          This  Release is  granted  effective  as of the ____ day of  February,
2007,  by  Wolverine  Tube,  Inc.  ("Wolverine")  and  Johann  R.  Manning,  Jr.
("Manning").  This is the Release referred to that certain Separation  Agreement
dated as of  _____________,  200_ by and  between  Wolverine  and  Manning  (the
"Separation Agreement"). Each of the parties gives this Release in consideration
of the other's  promises and covenants as recited in the  Separation  Agreement,
with respect to which this Release is an integral part.

          (a)  Release of  Wolverine.  Manning,  for  himself,  his  successors,
assigns, attorneys, and all those entitled to assert his rights, now and forever
hereby releases and discharges Wolverine and its respective officers, directors,
stockholders,  trustees,  employees, agents, parent corporations,  subsidiaries,
affiliates, estates, successors, assigns and attorneys (the "Released Parties"),
from any and all claims,  actions,  causes of action,  sums of money due, suits,
debts, liens,  covenants,  contracts,  obligations,  costs,  expenses,  damages,
judgments,  agreements, promises, demands, claims for attorney's fees and costs,
or liabilities  whatsoever,  in law or in equity,  which Manning ever had or now
has  against the  Released  Parties,  relating  to or arising  out of  Manning's
employment,  or  termination  of  employment,  or  service as a  director,  with
Wolverine,  whether  known or unknown,  including  but not limited to claims for
employment  discrimination  under  federal or state law,  except as  provided in
paragraph  (b) of this  Release;  claims  arising  under  Title VII of the Civil
Rights Act, 42 U.S.C.  ss. 2000(e),  et seq. or the Americans With  Disabilities
Act, 42 U.S.C.  ss. 12101 et seq.;  claims for  statutory or common law wrongful
discharge,  including any claims arising under the Fair Labor  Standards Act, 29
U.S.C. ss. 201 et seq.; claims for attorney's fees,  expenses and costs;  claims
for defamation; claims for wages or vacation pay; claims for benefits, including
any claims arising under the Employee  Retirement Income Security Act, 29 U.S.C.
ss. 1001, et seq.  Notwithstanding  the foregoing,  nothing herein shall release
(i) Wolverine of its  obligations to Manning under the  Separation  Agreement or
the Consulting Agreement, (ii) any indemnification  obligations to Manning under
Wolverine's  bylaws,  articles  of  incorporation,  Alabama  law  or  otherwise,
including the indemnification obligations described in the Separation Agreement,
(iii)  any  rights  or  claims  that  Manning  may  have  in his  capacity  as a
stockholder  of  Wolverine or as a trustee  under any  employee  benefit plan of
Wolverine,  or (iv) any rights that Manning may have under  Wolverine's  benefit
plans and programs.

          (b) Release of Claims  Under Age  Discrimination  in  Employment  Act.
Without  limiting  the  generality  of the  foregoing,  Manning  agrees  that by
executing this Release,  he has released and waived any and all claims he has or
may have as of the date of this  Release  for age  discrimination  under the Age
Discrimination  in Employment  Act, 29 U.S.C.  ss. 621, et seq. It is understood
that  Manning is advised to consult  with an attorney  prior to  executing  this
Release;  that he in fact has  consulted  a  knowledgeable,  competent  attorney
regarding this Release;  that he may,  before  executing this Release,  consider
this  Release  for a period  of  twenty-one  (21)  calendar  days;  and that the

<PAGE>

consideration he receives for this Release is in addition to amounts to which he
was  already  entitled.  It is  further  understood  that  this  Release  is not
effective  until seven (7) calendar days after the execution of this Release and
that  Manning may revoke this Release  within  seven (7) calendar  days from the
date of execution hereof.

          Manning  agrees that he has carefully read this Release and is signing
it voluntarily.  Manning  acknowledges that he has had twenty-one (21) days from
receipt of this  Release  to review it prior to  signing or that,  if Manning is
signing this Release prior to the expiration of such 21-day  period,  Manning is
waiving his right to review the  Agreement  for such full 21-day period prior to
signing it.  Manning has the right to revoke this Release  within seven (7) days
following the date of its  execution by him.  However,  if Manning  revokes this
Release within such seven (7) day period, no severance  benefits will be payable
to him  under  Section  2 of the  Separation  Agreement  and he shall  return to
Wolverine any such payment received prior to that date.

          MANNING  HAS  CAREFULLY  READ THIS  RELEASE AND  ACKNOWLEDGES  THAT IT
CONSTITUTES A GENERAL RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS AGAINST  WOLVERINE
UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT. MANNING ACKNOWLEDGES THAT HE HAS
HAD A FULL  OPPORTUNITY  TO CONSULT  WITH AN  ATTORNEY  OR OTHER  ADVISOR OF HIS
CHOOSING  CONCERNING  HIS  EXECUTION OF THIS RELEASE AND THAT HE IS SIGNING THIS
RELEASE  VOLUNTARILY  AND WITH THE FULL INTENT OF RELEASING  WOLVERINE  FROM ALL
SUCH CLAIMS.

          (c)  Release  of  Manning.   Wolverine,  for  itself  and  its  parent
corporations,  subsidiaries,  successors and assigns,  and all those entitled to
assert its rights,  now and forever hereby releases and discharges  Manning from
any and all claims,  actions, causes of action, sums of money due, suits, debts,
liens, covenants,  contracts,  obligations, costs, expenses, damages, judgments,
agreements,  promises,  demands,  claims  for  attorney's  fees  and  costs,  or
liabilities whatsoever, in law or in equity, which Wolverine ever had or now has
against  Manning  relating  to  or  arising  out  of  Manning's  employment,  or
termination of employment, or service as director, with Wolverine, whether known
or unknown, except with respect to intentional violation of law. Notwithstanding
the foregoing,  nothing herein shall release  Manning of (i) his  obligations to
Wolverine or its successors or affiliates under this Release,  or (ii) any other
contractual  obligations  between  Manning and  Wolverine or its  successors  or
affiliates,  subject to the terms thereof;  provided,  however,  that nothing in
this Agreement  shall prevent  Wolverine from bringing a claim:  (A) that arises
from any intentional misconduct engaged in by Manning as an employee, officer or
director of Wolverine, including, but not limited to, misappropriation, theft or
fraud;  (B) for material  breach of fiduciary duty as an employee,  officer,  or
director of Wolverine; or (C) that arises for repayment under Section 304 of the
Sarbanes-Oxley Act of 2002.

          (d) Right to Defend Actions.  The parties hereto acknowledge and agree
that no waiver or release  contained  in this  Release  shall impair any party's
rights to defend itself or himself from any  allegations or charges in the event
that any claim or action is

<PAGE>

initiated  by the  other  party;  provided  that,  a  party's  right  to  assert
counterclaims and cross-claims  relating to matters otherwise waived or released
pursuant  to this  Release  shall  be  limited  to the  subject  matter  of such
allegation or charge brought by the other party.

         This Release is final and binding and may not be changed or modified.

Date: ______________________          WOLVERINE TUBE, INC.

                                      By: _________________________________
                                      Its: ________________________________

Date: ______________________          _____________________________________
                                      JOHANN R. MANNING, JR.

<PAGE>

                                    EXHIBIT F
                                    ---------

                              WOLVERINE TUBE, INC.
                       200 CLINTON AVENUE WEST, SUITE 1000
                            HUNTSVILLE, ALABAMA 35801

                                                    [_____________], 2007

Golden Dragon Precise Copper Tube Group, Inc.
12 Floor, Building B
Golden Eagle Mansion
1518 Minsheng Road
Pudong New Area, Shanghai
PR China  200135
Attn: Mr. Ari Ingman

Ladies and Gentlemen:

          This letter is being delivered to you in connection with the Preferred
Stock Purchase Agreement, dated January 31 2007, among Wolverine Tube, Inc. (the
"Company") and the other parties named therein, and the transactions
contemplated thereby (as described therein, the "Transactions"). This is to
confirm that the Transactions do not and would not constitute a change in
control of the Company for purposes of triggering a right to terminate the
Extended Cooperative Supply Agreement, dated December 18, 2006, between you and
the Company.

          Kindly sign this letter in the space provided below and return a copy
to the Company.

                                          Very truly yours,

                                          WOLVERINE TUBE, INC.

                                          By:
                                               ---------------------------------
                                               Name:
                                               Title:

Acknowledged and agreed to:
GOLDEN DRAGON PRECISE COPPER TUBE GROUP, INC.

By:  -------------------------------------
     Name:
     Title:

<PAGE>

                                    EXHIBIT G

                              WOLVERINE TUBE, INC.

                                VOTING AGREEMENT

          This Voting Agreement (the "Agreement") is made as of ___________ __,
2007 (the "Effective Date"), by and among Wolverine Tube, Inc., a Delaware
corporation (the "Company") and the holders of shares of the Company's Series A
Convertible Preferred Stock, par value $1.00 per share (the "Series A Preferred
Stock") listed on Exhibit A (each such holder of Series A Preferred Stock is
hereinafter referred to as an "Investor").

                                    RECITALS

          WHEREAS, the Company and the Investors have entered into a Series A
Preferred Stock Purchase Agreement (the "Purchase Agreement") dated as of
January __, 2007 pursuant to which the Company has agreed to issue and sell to
the Investors and the Investors have agreed to purchase from the Company shares
of Series A Preferred Stock;

          WHEREAS, the Certificate of Designations of the Series A Preferred
Stock provides that each holder of Series A Preferred Stock will be entitled to
vote on all matters on which holders of the Company's common stock, par value
$0.01 per share (the "Common Stock"), are entitled to vote, and will be entitled
to a number of votes in respect of the shares of Series A Preferred Stock owned
by it equal to the number of shares of Common Stock into which such shares of
Series A Preferred Stock are convertible as of the record date for determination
of stockholders entitled to vote on such matter; and

          WHEREAS, in connection with the transactions contemplated by the
Purchase Agreement, the Company and the Investors desire to enter into this
Agreement for the purpose of setting forth the terms and conditions pursuant to
which the Investors shall vote their shares of the Company's voting stock;

          NOW, THEREFORE, in consideration of the mutual promises and covenants
hereinafter set forth, the parties hereto hereby agree as follows:

          1. Series A Preferred Stock Class Voting.

               1.1 Until the earlier of April 1, 2009 (the "Maturity Date") or
the redemption and cancellation of the 10.5% Senior Notes issued by the Company
(the "10.5% Notes"), no Investor (taken together with any other Investor with
whom such Investor could be considered a "person" (as such term is used in
Section 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended))
shall be entitled to cast, and shall not cast, any Votes in respect of Voting
Securities owned by it in excess of 49% of the Total Voting Power. Any reduction
in the number of Votes that the Investors may cast shall be applied to each
Investor pro rata in proportion to the number of Votes such Investor would be
entitled to cast in the absence of such restriction.

<PAGE>

               (a) For purposes of this Agreement:

                    (i) "Voting Securities" means Common Stock, Series A
Preferred Stock and all other securities of the Company that entitle the holders
thereof to vote on all matters on which holders of Common Stock are entitled to
vote;

                    (ii) "Votes" shall mean votes entitled to be cast in the
election of directors of the Company or other matters on which holders of Common
Stock are entitled to vote; and

                    (iii) "Total Voting Power" shall mean, calculated at a
particular point in time, the aggregate Votes represented by all then
outstanding Voting Securities.

               1.2 Omitted.

               1.3 Upon demand by the Company at any time after the record date
for determination of stockholders entitled to vote on any matter, each Investor
shall certify to the Company in writing the number of shares of Common Stock
(including any shares of Common Stock acquired upon conversion of the Series A
Preferred Stock), the number of shares of Series A Preferred Stock and the
number of other Voting Securities owned by such Investor on such record date. No
later than 3 days following such certification, but in any event prior to the
applicable stockholder vote, the Company shall advise each Investor of the
maximum number of Votes that such Investor may cast in such stockholder vote.

          2. Transfer and Encumbrance.

               2.1 Each Investor agrees that, until the earlier of the Maturity
Date or the redemption and cancellation of the 10.5% Notes, it will not, without
the prior written consent of the Company, voluntarily transfer, sell, offer,
pledge or otherwise dispose of (including by way of merger or otherwise) or
encumber ("Transfer"), in any one transaction or series of transactions to a
single transferee or group of transferees known to such Investor to be
affiliated, Voting Securities entitled to cast 10% or more of the Total Voting
Power (before application of the limitation in Section 1.1) unless each
transferee executes and delivers to the Company a joinder agreement
substantially in the form of Exhibit B hereto.

          3. Miscellaneous.

               3.1 No Revocation. The voting agreements contained herein may not
be revoked during the term of this Agreement except by mutual agreement of the
parties hereto.

               3.2 Termination Events. This Agreement shall terminate upon the
earlier of the Maturity Date or the redemption and cancellation of all
outstanding 10.5% Notes.

               3.3 Entire Agreement. This Agreement, the Purchase Agreement and
the Certificate of Designations of the Series A Preferred Stock constitute the
entire agreement between the parties hereto pertaining to the subject matter
hereof.

               3.4 Successors and Assigns. The terms and conditions of this
Agreement shall inure to the benefit of and be binding upon the respective
successors and assigns of the

                                       2
<PAGE>

parties. Nothing in this Agreement, express or implied, is intended to confer
upon any party other than the parties hereto or their respective successors and
assigns any rights, remedies, obligations, or liabilities under or by reason of
this Agreement, except as expressly provided in this Agreement.

               3.5 Amendments and Waivers. Any term of this Agreement may be
amended or waived (either generally or in a particular instance and either
retroactively or prospectively) only with the written consent of each of the
Company and each Investor (to the extent such Investor holds Voting Securities
at the time such amendment or waiver is sought). Any amendment or waiver
effected in accordance with this Section 3.5 shall be binding upon the Company
and the Investors, and each of their respective successors and assigns.

               3.6 Notices. Any and all notices or other communications or
deliveries required or permitted to be provided hereunder shall be in writing
and shall be deemed given and effective on the earliest of (i) the date of
transmission, if such notice or communication is delivered via facsimile at the
facsimile number specified in this Section 3.6 prior to 5:00 p.m. (New York City
time) on a business day, (ii) the business day after the date of transmission,
if such notice or communication is delivered via facsimile at the facsimile
number specified in this Agreement later than 5:00 p.m. (New York City time) on
any date and earlier than 11:59 p.m. (New York City time) on such date, (iii)
the business day following the date of sending, if sent by nationally recognized
overnight courier service, specifying next business day delivery, or (iv) upon
actual receipt by the party to whom such notice is required to be given if
delivered by hand. The address for such notices and communications shall be as
follows:

                                (a) For the Company:

                                    Wolverine Tube, Inc.
                                    200 Clinton Avenue West, Suite 1000
                                    Huntsville, Alabama 35801
                                    Attn:   James E. Deason
                                    Phone:  (256) 580-3500
                                    Fax:  (256) 580-3996

                                    with a copy to:

                                    LeBoeuf, Lamb, Greene & MacRae LLP
                                    125 West 55th Street
                                    New York, NY  10019
                                    Attn:   Lawrence A. Larose, Esq.
                                            Matthew M. Ricciardi, Esq.
                                    Phone: (212) 424-8000
                                    Fax:  (212) 424-8500

                                (b) For any Purchaser:

                                    To the address set forth under such
                                    Purchaser's name on the signature pages
                                    attached hereto

                                       3
<PAGE>

                                    with a copy to:

                                    Proskauer Rose LLP
                                    1585 Broadway
                                    New York, NY  10036-8299
                                    Attn:   Ronald R. Papa, Esq. and
                                            Adam J. Kansler, Esq.
                                    Phone: (212) 969-3000
                                    Fax:  (212) 969-2900

               3.7 Severability. If one or more provisions of this Agreement are
held to be unenforceable illegal or invalid under applicable law in whole or in
part for any reason, the parties agree to renegotiate such provision in good
faith. In the event that the parties cannot reach a mutually agreeable and
enforceable replacement for such provision, then (a) such provision shall be
stricken and excluded from this Agreement, (b) the balance of the Agreement
shall be interpreted as if such provision were so stricken and excluded and (c)
the balance of the Agreement shall be legal, enforceable and valid in accordance
with its terms.

               3.8 Governing Law. This Agreement and all acts and transactions
pursuant hereto and the rights and obligations of the parties hereto shall be
governed, construed and interpreted in accordance with the laws of the State of
New York, without giving effect to principles of conflicts of law.

               3.9 Counterparts. This Agreement may be executed in two (2) or
more counterparts, each of which shall be deemed an original and all of which
together shall constitute one instrument. This Agreement may be executed by
facsimile signatures or other means of electronic transmission.

               3.10 Headings. The headings used in this Agreement are used for
convenience only and are not to be considered in construing or interpreting this
Agreement.

               3.11 Jury Trial Waiver. To the fullest extent permitted by law,
and as separately bargained-for-consideration, each party hereby waives any
right to trial by jury in any action, suit, proceeding or counterclaim of any
kind arising out of or relating to this Agreement.

               3.12 General Interpretation. The terms of this Agreement have
been negotiated by the parties hereto and the language used in this Agreement
shall be deemed to be the language chosen by the parties hereto to express their
mutual intent. This Agreement shall be construed without regard to any
presumption or rule requiring construction against the party causing such
instrument or any portion thereof to be drafted, or in favor of the party
receiving a particular benefit under this Agreement. No rule of strict
construction will be applied against any party hereto.

               3.13 Specific Performance. In addition to any and all other
remedies that may be available at law, in the event of any breach of this
Agreement, the Company shall be entitled to specific performance of the
agreements and obligations of the Investors and to such other injunctive or
other equitable relief as may be granted by a court of competent jurisdiction.

                                       4
<PAGE>

               3.14 Remedies Cumulative. No remedy or election hereunder shall
be deemed exclusive but shall, wherever possible, be cumulative with all other
remedies at law or in equity.

               3.15 Pronouns. Whenever the context may require, any pronouns
used in this Agreement shall include the corresponding masculine, feminine or
neutral forms, and the singular form of nouns and pronouns shall include the
plural, and vice versa.

                   [Remainder of Page Intentionally Left Blank
                             Signature Page Follows]

                                       5
<PAGE>
         IN WITNESS WHEROF, the parties hereto have executed this Voting
Agreement as of the date first written above.

COMPANY:

WOLVERINE TUBE, INC.

By:   ___________________________
      Name:
      Title:

INVESTORS:

THE ALPINE GROUP, INC.

By:   ____________________________
      Name:
      Title:

Address for notices:
One Meadowlands Plaza
East Rutherford, New Jersey
Phone:  (201) 549-4400
Fax:  (201) 549-4428
Attn:  Steven S. Elbaum

PLAINFIELD SPECIAL SITUATIONS MASTER FUND LIMITED

By:   _____________________________
      Name:
      Title:

Address for notices:
c/o Plainfield Asset Management LLC
55 Railroad Avenue
Greenwich, CT 06830
Phone:  (203) 302-1715
Fax:  (203) 302-1779
Attn:  Thomas X. Fritsch

<PAGE>

                                    EXHIBIT A

                                    INVESTORS

    Name/Address/Fax No.                                       No. of Shares

<PAGE>

                                    EXHIBIT B

                            FORM OF JOINDER AGREEMENT

                              JOINDER AGREEMENT TO

                                VOTING AGREEMENT

                                            [Date]

          The undersigned proposes to acquire [Number of Shares of Voting
Securities] of Wolverine Tube, Inc. (the "Securities"). Subject to and
concurrently with the acquisition of such Securities, the undersigned agrees to
become bound by the Voting Agreement dated as of [ ], 2007 (the "Voting
Agreement") by and among Wolverine Tube, Inc. and certain other securityholders
of Wolverine Tube, Inc. named therein as an "Investor" (as defined therein) and
agrees that it shall have all of the rights and obligations of an Investor under
the Voting Agreement.

          IN WITNESS WHEREOF, the parties have executed this Joinder to the
Series A Preferred Stock Purchase Agreement as of the day and year first above
written.

COMPANY:

WOLVERINE TUBE, INC.

By:   ___________________________
      Name:
      Title:

INVESTOR:

o

By:   ____________________________
      Name:
      Title:

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