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                                                                   EXHIBIT 10.49

                             INDUSTRIAL PLANT LEASE

         THIS INDUSTRIAL PLANT LEASE, dated effective as of midnight on the 31st
day of October, 2000, is entered into by and between Cherokee Nitrogen Company,
an Oklahoma corporation ("Lessor"), and El Dorado Chemical Company, an Oklahoma
corporation ("Lessee").

         1. Lease. Lessor agrees to lease to Lessee, and Lessee agrees to lease
from Lessor, all of the real property situated in the Town of Cherokee, Colbert
County, Alabama, described on Exhibit "A" attached hereto, but excluding that
portion used as farm land on the west side of the manufacturing facility,
together with all buildings, fixtures and other improvements located thereon and
appurtenances thereto belonging, including, without limitation, adequate ways of
ingress and egress directly between the improvements on the property and public
roads, walkways and parking areas (the "Property"), and all of those items of
personal property which constitute a chemical plant, excluding stores of spare
or replacement parts and excluding catalyst (collectively the "Equipment") which
are located on the Property or associated therewith (the Property and Equipment
are collectively referred to as the "Premises").

         2. Definitions. As used in this Lease, the following terms shall have
the following meanings (such definitions to be equally applicable to both the
singular and plural forms of the terms defined):

                  "Business Day" shall mean a day other than a Saturday, Sunday
         or legal holiday under the laws of the State of Oklahoma.

                  "Commencement Date" as defined in Section 3 hereof.

                  "Default" shall mean any event or condition which after the
         giving of notice or lapse of time or both would become an Event of
         Default.

                  "Equipment" as defined in Section 1 hereof.

                  "Event of Default" as defined in Section 22 hereof.

                  "Event of Loss" shall mean, with respect to any part of the
         Premises, the actual or constructive total loss or the use thereof, due
         to theft, destruction, damage beyond repair or rendition thereof as
         being permanently unfit for normal use from any reason whatsoever, or
         the condemnation, confiscation or seizure of, or requisition of title
         to or use of, the Premises.

                  "Imposition" as defined in Section 11 hereof.

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                  "Indemnitee" as defined in Section 21 hereof.

                  "Late Charge Rate" shall mean an interest rate per annum equal
         to eighteen percent (18%), but not to exceed the highest rate permitted
         by applicable law.

                  "Lease" and the terms "hereof", "herein", "hereto" and
         "hereunder", when used in this Industrial Plant Lease, shall mean and
         include this Industrial Plant Lease, as the same may from time to time
         be amended, modified or supplemented.

                  "Lease Term" shall mean the term of this Lease set forth in
         Section 3 hereof.

                  "Lessee" as defined in the introductory paragraph of this
         Lease.

                  "Lessor" as defined in the introductory paragraph of this
         Lease.

                  "Lien" shall mean any mortgage, pledge, lien, security
         interest, charge, encumbrance, financing statement, title retention or
         any other right or claim of any person, other than any Lessor's Lien.

                  "Premises" as defined in Section 1 hereof.

                  "Property" as defined in Section 1 hereof.

         3. Term. The term of this Lease shall commence on midnight of October
31, 2000 (the "Commencement Date") and shall continue for a term of one (1)
year, unless earlier terminated pursuant to the provisions hereof (the "Lease
Term"). It is expressly understood that neither party hereto has an option or
right to renew this Lease.

         4. Rent; Unconditional Obligations.

                  a. During the Lease Term, Lessee shall pay to Lessor rent for
         the Premises in the total aggregate amount of One Million Three Hundred
         Fifty Thousand and No/100 Dollars ($1,350,000.00), payable in nine (9)
         consecutive monthly installments at a rate of One Hundred Fifty
         Thousand and No/100 Dollars ($150,000.00) per month, with the first
         installment of rent being due and payable within twenty (20) days of
         the Commencement Date. Subsequent rental payments shall be due on the
         last day of each calendar month during the Lease Term. Accordingly, the
         second rental payment is due and payable on November 30, 2000, with the
         last rental payment due payable on June 30, 2001. Upon receipt by
         Lessor of the ninth (9th) rental installment from Lessee, this Lease
         will be fully paid up and no further rent shall be due hereunder. Rent
         shall be payable in lawful tender of the United States of America and
         paid to Lessor at the address of Lessor as provided in Section 27
         hereof or such other place as Lessor may from time to time designate.

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                  b. Lessee shall also pay to Lessor, on demand, interest at the
         Late Charge Rate on any installment of rent and on any other amount
         owing hereunder which is not paid within ten (10) days of the date when
         due, for any period for which the same shall be overdue.

                  c. This Lease is a net lease, and Lessee's obligation to pay
         all rent and all other amounts payable hereunder is ABSOLUTE AND
         UNCONDITIONAL under any and all circumstances and shall not be affected
         by any circumstances of any character whatsoever, including, without
         limitation, (i) any set-off, counterclaim, recoupment, defense,
         abatement or reduction or any right which Lessee may have against
         Lessor or anyone else for any reason; (ii) any defect in the title,
         condition, design, or operation of, or lack of fitness for use of, or
         any damage to, or loss of, all or any part of the Premises from any
         cause whatsoever; or (iii) the invalidity, unenforceability or
         disaffirmance of this Lease or any other document related hereto.
         Lessee hereby waives, to the extent permitted by applicable law, any
         and all rights which it may now have or which may at any time hereafter
         be conferred upon it, by statute or otherwise, to terminate, cancel,
         quit or surrender the lease of all or any part of the Premises.

         5. Disclaimer. LESSOR NEITHER MAKES NOR SHALL BE DEEMED TO HAVE MADE
AND LESSEE HEREBY EXPRESSLY WAIVES ANY WARRANTY OR REPRESENTATION, EITHER
EXPRESS OR IMPLIED, AS TO THE PREMISES, INCLUDING, WITHOUT LIMITATION, ANY
WARRANTY OR REPRESENTATION AS TO THE DESIGN, QUALITY OR CONDITION OF THE
PREMISES OR ANY WARRANTY OF MERCHANTABILITY OR FITNESS OF THE PREMISES FOR ANY
PARTICULAR PURPOSE, OR AS TO THE TITLE TO OR LESSOR'S OR LESSEE'S INTEREST IN
THE PREMISES, OR AS TO ANY OTHER MATTER RELATING TO THE PREMISES OR ANY PART
THEREOF.

         LESSEE CONFIRMS THAT IT HAS SELECTED THE PREMISES ON THE BASIS OF ITS
OWN JUDGMENT, ACCEPTS THE PREMISES IN ITS EXISTING CONDITION AND EXPRESSLY
DISCLAIMS RELIANCE UPON ANY STATEMENTS, REPRESENTATIONS OR WARRANTIES MADE BY
LESSOR.

         6. Surrender. Lessee shall, upon the expiration of the Lease Term,
surrender possession of the Premises to Lessor. Lessee shall not continue to
occupy the Premises, beyond the Lease Term. At the time of such return, the
Premises shall be in the condition and repair required to be maintained by
Section 12 hereof and free and clear of all Liens.

         7. Representations and Warranties. In order to induce Lessor to enter
into this Lease and to lease the Premises to Lessee hereunder, Lessee represents
and warrants that:

                  a. Organization. Lessee is a corporation duly organized,
         validly existing and in good standing under the laws of the State of
         Oklahoma and is qualified to do

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          business as a foreign corporation and is in good standing under the
          laws of the State of Alabama.

                  b. Power and Authority. Lessee has full power, authority and
         legal right to execute, deliver and perform this Lease, and the
         execution, delivery and performance hereof has been duly authorized by
         all necessary corporate action of Lessee.

                  c. Enforceability. This Lease has been duly executed and
         delivered by Lessee and constitutes a legal, valid and binding
         obligation of Lessee enforceable in accordance with its terms.

                  d. Consents and Permits. The execution, delivery and
         performance of this Lease will not contravene any law, regulation,
         judgment or decree applicable to Lessee, or the certificate of
         incorporation or by-laws of Lessee, or contravene the provisions of, or
         constitute a default under, or result in the creation of any Lien upon
         any property of Lessee under any mortgage, instrument or other
         agreement to which Lessee is a party or by which Lessee or its assets
         may be bound or affected.

                  e. No Defaults. Lessee is not in default, and no event or
         condition exists which after the giving of notice or lapse of time or
         both would constitute an event of default, under any mortgage,
         indenture, contract, agreement, judgment or other undertaking to which
         Lessee is a party or which purports to be binding upon Lessee or upon
         any of its assets, except for any such default, event or condition
         which, individually or in the aggregate, would not affect Lessee's
         ability to perform its obligations under this Lease or any such
         mortgage, indenture, contract, agreement, judgment or other
         undertaking.

                  f. No Litigation. There is no action, suit, investigation or
         proceeding by or before any court, arbitrator, administrative agency or
         other governmental authority pending or threatened against or affecting
         Lessee which involves the Premises or the transactions contemplated by
         this Lease; or which, if adversely determined, would have a material
         adverse effect on the financial condition, business or operations of
         Lessee.

                  g. Taxes. Lessee has filed all Federal, state and local income
         tax returns that are required to be filed, and has paid all taxes as
         shown on said returns and all assessments received by it to the extent
         that such taxes and assessments have become due, and Lessee does not
         have any knowledge of any actual deficiency or additional assessment in
         connection therewith, except for taxes being contested in good faith
         and by appropriate proceedings and for which adequate reserves or a
         bond has been established. The charges, accruals and reserves on the
         books of Lessee in respect of Federal, state and local taxes for all
         open years, and for the current fiscal year, make adequate provision
         for all unpaid tax liabilities for such periods.

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         8. Covenant of Peaceful Possession. Lessor covenants and warrants that
if Lessee shall discharge the obligations set forth in this Lease to be
performed by Lessee, Lessee shall peaceably have, hold and enjoy the quiet
undisturbed possession of the Premises, together with all the appurtenances
thereto, without hindrance, ejection, disturbance or molestation by Lessor or
any person or entity claiming through or under Lessor

         9. Liens. Lessee will not create, incur, assume or suffer to exist any
Lien on or with respect to the Premises.

         10. Insurance. Lessee shall maintain on the Premises, at its expense,
"all-risk" physical damage insurance and comprehensive general and/or automobile
(as appropriate) liability insurance (covering bodily injury and property damage
exposures, including, but not limited to, contractual liability and product
liability) in such amounts, against such risks, in such form and with such
insurers as shall be satisfactory to Lessor; provided, that the amount of
"all-risk" physical damage insurance shall not on any date be less than full
replacement value. Each physical damage insurance policy will name Lessor as
loss payee. Each liability insurance policy will name Lessor as additional
insured. Additionally, each insurance policy will, among other things, require
that the insurer give Lessor, as certificate holder, at least thirty (30) days
prior written notice (at the addresses for notice to Lessor set forth in Section
27 hereof) of any alteration in or cancellation of the terms of such policy. In
no event shall Lessor be responsible for premiums, warranties or representations
to any insurer or any agent thereof. At Lessor's option, Lessee shall furnish to
Lessor a certificate or other evidence satisfactory to Lessor that such
insurance coverage is in effect; provided, however, that Lessor shall be under
no duty to ascertain the existence or adequacy of such insurance. The insurance
maintained by Lessee shall be primary without any right of contribution from
insurance which may be maintained by Lessor.

         11. Taxes; General Tax Indemnity. During the Lease Term, Lessee hereby
agrees to pay and to indemnify and hold Lessor harmless from and against, all
fees, taxes (whether sales, use, excise, personal property or other taxes),
imposts, duties, withholdings, assessments and other governmental charges of
whatever kind or character, however designated (together with any penalties,
fines or interest thereon), all of the foregoing being herein collectively
called the "Impositions", which are at any time levied or imposed against
Lessor, Lessee, this Lease, the Premises or any part thereof by any federal,
state or local government or taxing authority in the United States or by any
foreign government or any subdivision or taxing authority thereof upon, all with
respect to, as a result of or measured by (a) the Premises (or any part
thereof), or this Lease or the interest of the Lessor therein; or (b) the
leasing, possession, maintenance, use, or operation of the Premises or any part
thereof; or (c) the rentals, receipts or earnings payable under this Lease or
otherwise arising from the Premises or any part thereof; excluding, however,
taxes based on or measured by the net income of Lessor that are imposed by (i)
the United States of America, or (ii) any State of the United States of America
or any political subdivision of any such State. Lessor shall pay, and,

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promptly upon receipt of Lessor's invoice therefor, Lessee shall reimburse
Lessor for paying, the Impositions, unless Lessor and Lessee shall agree in
writing that Lessee will pay any Impositions directly. In case any report or
return is required to be filed with respect to any obligation of Lessee under
this Section 11 or arising out of this Section 11, Lessor shall make such report
or return in such manner to show the ownership of the Premises in Lessor, unless
Lessor and Lessee shall agree in writing that Lessee shall file any reports or
returns. The obligations of Lessee under this Section 11 shall survive the
expiration or earlier termination of this Lease.

         12. Compliance with Laws; Operation and Maintenance; Additions;
Notices.

                  a. Lessee may use the Premises in a careful and proper manner
         for the purpose of operating a chemical plant or any other lawful
         business and will use reasonable efforts to conform to and comply with
         all governmental laws, rules and regulations relating thereto. Further,
         Lessee agrees to maintain its existence as a legal entity and obtain
         and keep in full force and effect all material rights, franchises,
         licenses and permits which are necessary for the operation of the
         Premises and obtain or cause to be obtained as promptly as possible any
         governmental, administrative or agency approval and make any filing or
         registration therewith which at the time shall be required with respect
         to the performance of its obligations under this Lease and the proper
         operation of the Premises.

                  b. Lessee will, at its own expense, keep and maintain the
         Premises, including the parking areas, sidewalks and roads, in good
         repair, condition and working order, reasonable wear and tear excepted.

                  c. Lessee will not make or authorize any improvement, change,
         addition or alteration to the Premises (i) if such improvement, change,
         addition or alteration will impair the originally intended function or
         use of the Premises or impair the value of the Premises as it existed
         immediately prior to such improvement, change, addition or alteration;
         or (ii) if any parts or materials installed in or attached to or
         otherwise becoming a part of the Premises as a result of any such
         improvement, change, addition or alteration shall not be removable
         without damage to the Premises. Any part or material which is added to
         the Premises without violating the provisions of the immediately
         preceding sentence and which is not a replacement or substitution for
         any property which was a part of the Premises, shall remain the
         property of Lessee and may be removed by Lessee at any time prior to
         the expiration or earlier termination of the Lease Term. All such parts
         or materials shall be and remain free and clear of any Liens. Any such
         part or material which is not so removed upon the expiration or earlier
         termination of the Lease Term shall, without further act, become the
         property of Lessor.

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                  d. Lessee will promptly give written notice to Lessor of (i)
         the occurrence of any Default or Event of Default; (ii) the occurrence
         of any Event of Loss; (iii) the commencement of any material litigation
         or proceeding affecting the Premises; and (iv) any material dispute
         between Lessee and any governmental regulatory body or other party that
         involves the Premises.

         13. Signs. Lessee shall have the right to place signs or other
advertising devices, electrical or non-electrical, on the Premises; provided,
however, the same is in compliance with all applicable law.

         14. Utilities. Lessee shall pay for all water, gas, light, power,
telephone service and all other utilities supplied to the Premises.

         15. Environmental Indemnity by Lessee.

                  a. Lessee agrees to keep and maintain the Premises in material
         compliance with any environmental law. Lessee agrees to indemnify,
         defend and hold Lessor, its parent, subsidiary and affiliate companies,
         and their respective officers, directors, employees and agents,
         successors and assigns harmless from and against all penalties, claims,
         orders, judgments, expenses, fines, remedies (including, but not
         limited to, damages), costs (including, but not limited to, reasonable
         attorneys' fees and litigation costs), liabilities and losses directly
         or indirectly caused by, or arising directly or indirectly from, or
         directly or indirectly related to, any actual or alleged pollution,
         release, contamination, discharge, dumping or any other actual or
         alleged environmental violation or harm or threat of whatever type or
         nature (including, but not limited to, any violation of laws or for the
         violation of any federal, state or local statutes or regulations
         currently enacted or made effective after the date hereof and which are
         intended to be, or are being, applied for protecting or preserving the
         environment) (the "Environmental Claims") occurring on, coming on, in
         or under or emanating from the Premises during the Lease Term caused by
         Lessee or in connection with the operation of the Premises by Lessee.

                  b. The indemnifications provided for by Section 15 shall
         constitute the exclusive remedy of Lessor with respect to claims for
         any Environmental Claim, whether any claims or causes of action
         asserted with respect to any such matters are brought in contract,
         tort, strict liability, statute or any other legal theory or
         combination of theories whatsoever.

                  c. Lessor shall, on each occasion that indemnification is
         sought, give prompt written notice for such indemnification, of any
         claim, suit or demand which Lessor believes will give rise to
         indemnification to Lessee hereunder. Except as hereafter provided,
         Lessee shall be obligated to defend and to direct the defense against
         any such claim, suit or demand, in its name or in the name of Lessor at
         Lessee's

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         expense and with counsel of Lessee's own choosing and the right to
         settle or compromise any such claim, suit or demand; provided, however,
         that Lessee will not, without Lessor's written consent, settle or
         compromise any claim or consent to any entry of judgment which does not
         include as an unconditional term thereof the giving by the claimant or
         the plaintiff to Lessor of a release from all liability in respect of
         such claim. Lessor shall, at Lessee's expense, cooperate in the defense
         of any such claim, suit or demand. If Lessee, within a reasonable time
         after notice of a claim, fails to defend Lessor, Lessor shall be
         entitled to undertake the defense, compromise or settlement of such
         claim at the expense of and for the account and risk of Lessee,
         utilizing counsel of Lessor's own choosing.

         16. Environmental Indemnity by Lessor.

                  a. Lessor agrees to indemnify, defend and hold Lessee, its
         parent, subsidiary and affiliate companies, and their respective
         officers, directors, employees and agents, successors and assigns
         harmless from and against all penalties, claims, orders, judgments,
         expenses, fines, remedies (including, but not limited to, damages),
         costs (including, but not limited to, reasonable attorneys' fees and
         litigation costs), liabilities and losses directly or indirectly caused
         by, or arising directly or indirectly from, or directly or indirectly
         related to, any Environmental Claim occurring on, coming on, in or
         under or emanating from the Premises prior to the Commencement Date.

                  b. The indemnifications provided for by Section 16 shall
         constitute the exclusive remedy of Lessee with respect to claims for
         any Environmental Claim, whether any claims or causes of action
         asserted with respect to any such matters are brought in contract,
         tort, strict liability, statute or any other legal theory or
         combination of theories whatsoever.

                  c. Lessee shall, on each occasion that indemnification is
         sought, give prompt written notice for such indemnification, of any
         claim, suit or demand which Lessee believes will give rise to
         indemnification to Lessor hereunder. Except as hereafter provided,
         Lessor shall be obligated to defend and to direct the defense against
         any such claim, suit or demand, in its name or in the name of Lessee at
         Lessor's expense and with counsel of Lessor's own choosing and the
         right to settle or compromise any such claim, suit or demand; provided,
         however, that Lessor will not, without Lessee's written consent, settle
         or compromise any claim or consent to any entry of judgment which does
         not include as an unconditional term thereof the giving by the claimant
         or the plaintiff to Lessee of a release from all liability in respect
         of such claim. Lessee shall, at Lessor's expense, cooperate in the
         defense of any such claim, suit or demand. If Lessor, within a
         reasonable time after notice of a claim, fails to defend Lessee, Lessee
         shall be entitled to undertake the defense, compromise or

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         settlement of such claim at the expense of and for the account and risk
         of Lessor, utilizing counsel of Lessee's own choosing.

         17. Condemnation.

                  a. If, after the execution and prior to the termination of
         this Lease, the whole of the Premises shall be taken under the power of
         eminent domain by any public or private authority, then this Lease and
         the term hereof shall cease and terminate as of the date of such
         taking, with the right of Lessee, at its election, to continue to
         occupy the Premises, subject to the terms of this Lease, for all or
         such part, as Lessee may determine, of the period between the date of
         such taking and the date when possession of the Premises shall be taken
         by the taking authority, and any unearned rent or other charges, if
         any, paid in advance, shall be refunded to Lessee. If required, Lessee
         shall procure from the applicable governmental authority, at Lessee's
         expense, all necessary consents and authorizations to continue to
         occupy the Premises from and after the date of such taking.

                  b. If, after the execution and prior to the termination
         hereof, any public or private authority shall, under the power of
         eminent domain, make a taking:

                          (i) Resulting in the reduction of the ground floor
                  area of the building on the Premises by twenty percent (20%)
                  or more, or

                          (ii) Resulting in the reduction of the parking area on
                  the Premises by twenty percent (20%) or more, then Lessee may,
                  at its election, terminate this Lease by giving Lessor notice
                  of the exercise of its election within sixty (60) days of the
                  date of notice to Lessee of such taking (or purchase). In the
                  event of termination by Lessee under this Section 17, this
                  Lease shall cease and terminate as of the last day of the
                  calendar month in which such notice of exercise of its
                  election to terminate has been given, and any unearned rent or
                  other charges, if any, paid in advance, shall be refunded to
                  Lessee.

                  c. In the event that Lessee, having such right, shall not
         elect to terminate as aforesaid, then this Lease and the term hereof
         shall continue in full force and effect, and Lessor shall, at its
         expense, forthwith restore what may remain of the Premises, including
         any and all improvements made theretofore, and the parking areas, to
         substantially the same condition they were in prior to such taking and
         a just proportion of the rent provided in Section 4 hereof, and any
         other charges payable by Lessee hereunder, according to the nature and
         extent of the injury to the Premises and Lessee's business shall be
         suspended or abated until what may remain of the Premises and the
         parking areas, shall be restored as aforesaid, and thereafter a just
         proportion of the rent and any such other charges according to the
         nature and extent of the taking and resulting injury to the Premises
         and Lessee's business shall be permanently abated for

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          the balance of the Lease Term. In computing the amount of
          proportionate rent reduction as herein provided, due consideration
          shall be given to the value of the portion of the area so taken in
          condemnation with relation to the remaining area insofar as the use
          thereof for Lessee's business is concerned, and to the effect of such
          taking on Lessee's business, and the amount of parking area and the
          value of what remains insofar as the use thereof for Lessee's business
          is concerned.

                  d. All compensation awarded or paid for losses or damages to
         the Premises or losses or damages to Lessor for loss of its leasehold
         interest upon such a total or partial taking of the Premises under the
         power of eminent domain shall belong to and be the property of Lessor;
         provided however, that nothing contained herein shall be construed to
         preclude Lessee from (i) prosecuting and filing, and Lessee shall be
         entitled to prosecute and file, a claim directly against the condemning
         authority in such condemnation proceedings for loss of or damage to
         Lessee's business or suffered by Lessee due to loss of its leasehold
         interest, depreciation to, damage to, or cost of removal of, or for
         value of stock, trade fixtures, furniture and other personal property
         belonging to Lessee, as a result of the partial or complete taking of
         the Premises, and (ii) collecting and retaining any damages awarded
         Lessee in connection therewith.

         18. Inspection. Lessor or its authorized representatives may at any
reasonable time or times inspect the Premises.

         19. Identification. Upon the request of Lessor in writing, Lessee
shall, at its expense, attach to each item of Equipment a notice satisfactory to
Lessor disclosing Lessor's ownership of such item of Equipment.

         20. Loss or Damage.

                  a. All risk of loss, theft, damage or destruction to the
         Premises or any part thereof, however incurred or occasioned, shall be
         borne by Lessee. Lessee shall promptly give Lessor written notice
         thereof and subject to paragraph (d) of this Section 20, shall promptly
         cause the affected part or parts of the Premises to be replaced or
         restored to the condition and repair required to be maintained by
         Section 12 hereof.

                  b. Unless a Default or Event of Default shall be continuing,
         any payments received at any time by Lessor or Lessee from any insurer
         with respect to loss or damage to the Premises shall be paid over to
         Lessee to reimburse Lessee for its payment of the costs and expenses
         incurred by Lessee in replacing or restoring, pursuant to paragraph (a)
         of this Section 20, the part or parts of the Premises which suffered
         such loss or damage. If Lessee fails to replace or restore the Premises
         as provided herein within sixty (60) days from the date of such loss or
         damage, all of such insurance payments shall be paid over to Lessor.

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                  c. During the period from the date of such loss or damage
         until the Premises are repaired and restored, the rent payable by
         Lessee hereunder shall be abated proportionately according to that
         portion of the Premises which is usable by Lessee after such loss or
         damage. Such abatement shall continue for the period commencing with
         such loss or damage and ending with the completion of the work or
         repair. In the event that this Lease is terminated due to exercise of
         the termination option pursuant to paragraph (d) of this Section 20,
         the rent shall be completely abated from the date of the loss or
         damage.

                  d. Notwithstanding anything herein to the contrary, in the
         event that twenty-five percent (25%) or more of any part of the
         Premises are damaged or destroyed or rendered untenantable by fire or
         other casualty, Lessee may, at its option, terminate this Lease
         effective as of the date of such casualty, by giving to Lessor thirty
         (30) days after the happening of such casualty written notice of such
         termination.

         21. General Indemnity. Lessee assumes liability for, and shall
indemnify, protect, save and keep harmless Lessor and its agents, servants,
successors and assigns (the "Indemnitee") from and against any and all
liabilities, obligations, losses, damages, penalties, claims, actions, suits,
costs and expenses, on, incurred by or asserted against any Indemnitee, in any
way relating to or arising out of this Lease or the enforcement hereof, or the
acceptance, rejection, possession, use, selection, lease, operation, or
condition of the Premises or any part thereof (including, without limitation,
latent or other defects, whether or not discoverable by Lessee or any other
person, any claim in tort for strict liability and any claim for patent,
trademark or copyright infringement); provided, however, that Lessee shall not
be required to indemnify any Indemnitee for loss or liability arising from acts
or events which occur after the Premises have been surrendered to Lessor in
accordance with this Lease, or for loss or liability resulting solely from the
willful misconduct or gross negligence of such Indemnitee. Any payments made by
Lessee under this Section 21 shall be made on an after-tax basis. The provisions
of this Section 21 shall survive the expiration or earlier termination of this
Lease.

         22. Events of Default. The following events shall each constitute an
event of default ("Event of Default") under this Lease:

                  a. Lessee shall fail to make any payment of rent or other
         amount owing hereunder when due and such failure continues ten (10)
         days after written notice by Lessor to Lessee of such failure; or

                  b. Lessee shall fail to materially perform or observe any
         warranty, covenant, condition or agreement to be performed or observed
         by it with respect to this Lease (except the payment of rent) and such
         failure shall continue unremedied for thirty (30) days after the
         earlier of (i) the date on which Lessee obtains, or should have

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         obtained knowledge of such failure; or (ii) the date on which written
         notice thereof shall be given by Lessor to Lessee; or

                  c. any representation or warranty made by Lessee herein or in
         any document, certificate or financial or other statement now or
         hereafter furnished Lessor in connection with this Lease shall prove at
         any time to be untrue or misleading in any material respect as of the
         time when made; or

                  d. the entry of a decree or order for relief by a court having
         jurisdiction in respect of Lessee, adjudging Lessee bankrupt or
         insolvent, or approving as properly filed a petition seeking a
         reorganization, arrangement, adjustment or composition of or in respect
         of Lessee in an involuntary proceeding or case under the Federal
         bankruptcy laws, as now or hereafter constituted, or any other
         applicable Federal, state or foreign bankruptcy, insolvency or other
         similar law, or appointing a receiver, liquidator, assignee, custodian,
         trustee or sequestrator (or similar official) of Lessee or of any
         substantial part of its property, or ordering the winding-up or
         liquidation of its affairs, and the continuance of any such decree or
         order unstayed and in effect for a period of sixty (60) days; or

                  e. the institution by Lessee of proceedings to be adjudicated
         bankrupt or insolvent, or the consent by it to the institution of
         bankruptcy or insolvency proceedings against it, or the commencement by
         Lessee of a voluntary proceeding or case under the Federal bankruptcy
         laws, as now or hereafter constituted, or any other applicable Federal,
         state or foreign bankruptcy, insolvency or other similar law, or the
         consent by it to the filing of any such petition or to the appointment
         of or taking possession by a receiver, liquidator, assignee, trustee,
         custodian or sequestrator (or other similar official) of Lessee or of
         any substantial part of its property, or the making by it of any
         assignment for the benefit of creditors or the written admission by it
         of its inability to pay its debts generally as they become due or its
         willingness to be adjudicated bankrupt or the taking of corporate
         action by Lessee in furtherance of any of the foregoing.

         23. Remedies.

                  a. If an Event of Default specified in Sections 22(d) or (e)
         above shall occur, then, and in any such event, this Lease shall,
         without any declaration or any other action by Lessor, be in Default,
         and without any notice or declaration from Lessor and without any
         action or demand by Lessor, all rents due and to become due under this
         Lease and other amounts owing under or with respect to this Lease shall
         be immediately due and payable by Lessee to Lessor, all present valued
         at the discount rate of five percent (5%). If an Event of Default,
         other than an Event of Default specified in Sections 22(d) or (e)
         above, shall occur and be continuing Lessor may, by written notice of
         Default given to Lessee declare this Lease to be in Default, whereupon
         all rents due and to become due under this Lease, and all other amounts

                                       12
<PAGE>   13

         payable under or with respect to this Lease, all present valued at the
         discount rate of five percent (5%), shall become immediately due and
         payable without presentment, demand, protest or other notice of any
         kind, all of which are hereby expressly waived. During the continuance
         of any Event of Default hereunder, Lessor shall have the right to
         pursue and enforce any of its rights and remedies under this Section 23
         and as provided under applicable law.

                  b. If an Event of Default shall occur and be continuing,
         Lessor may re-enter the Premises as the agent of Lessee, without being
         liable for any prosecution or damages therefore, and may relet the
         Premises as the agent of Lessee, and receive the rent therefore, upon
         such terms as shall be reasonably satisfactory to Lessor, and all
         rights of Lessee to repossess the Premises under this Lease shall be
         forfeited. Such re-entry by Lessor under and pursuant to the terms of
         this Section 23 shall not operate to release Lessee from any rent to be
         paid or covenants to be performed hereunder during the Lease Term. For
         the purpose of reletting, Lessor shall be authorized to make such
         repairs as may be necessary to place the same in substantially the
         order and condition that such was in as of the date of this Lease,
         ordinary wear and tear excepted. If the sum realized or to be realized
         from the reletting is insufficient to satisfy the monthly or term rent
         provided in this Lease, Lessor, at its option, may require Lessee to
         pay such deficiency month by month, or may hold Lessee in advance for
         the entire deficiency to be realized during the term of the reletting.
         Lessor shall exercise diligent efforts to mitigate any such costs or
         damages.

                  c. Lessee shall be liable for any and all unpaid rent and
         other amounts due hereunder before or during the exercise of any of the
         foregoing remedies and for all reasonable legal fees and necessary
         other costs and expenses incurred by reason of the occurrence of any
         uncured Event of Default and the exercise of Lessor's remedies with
         respect thereto, including all costs and expenses incurred in
         connection with the placing of the Premises in the condition required
         by Section 6 and Section 12 hereof.

                  d. No remedy referred to in this Section 23 is intended to be
         exclusive but each shall be cumulative and in addition to any other
         remedy referred to herein or otherwise available to Lessor at law or in
         equity; and the exercise or beginning of exercise by Lessor of any one
         or more of such remedies shall not preclude the simultaneous or later
         exercise by Lessor of any or all such other remedies. Lessor may
         exercise any other right or remedy which may be available to it under
         applicable law or proceed by appropriate court action to enforce the
         terms hereof or to recover damages for the breach hereof or to rescind
         this Lease. No express or implied waiver by Lessor of an Event of
         Default shall in any way be, or be construed to be, a waiver of any
         future or subsequent Event of Default.

                                       13
<PAGE>   14

                  e. Lessee hereby waives presentment, demand, protest or any
         notice, except as hereinabove provided in this Section 23 (to the
         extent permitted by applicable law) of any kind in connection with this
         Lease.

         24. Lessor's Right to Perform. If Lessee fails to make any payment
required to be made by it hereunder or fails to perform or comply with any of
its other agreements contained herein, Lessor may itself make such payment or
perform or comply with such agreement, and the amount of such payment and the
amount of the reasonable expenses of Lessor incurred in connection with such
payment or the performance of or compliance with such agreement, as the case may
be, together with interest thereon at the Late Charge Rate, shall be deemed to
be additional rent, payable by Lessee on demand.

         25. Location; Assignment or Sublease. LESSEE WILL NOT REMOVE THE
EQUIPMENT OR ANY OTHER PART OF THE PREMISES WITHOUT THE PRIOR WRITTEN CONSENT OF
LESSOR. THE EQUIPMENT AND PREMISES SHALL AT ALL TIMES BE IN THE SOLE POSSESSION
AND CONTROL OF LESSEE OR LESSEE'S AGENTS, AND LESSEE WILL NOT, WITHOUT THE PRIOR
WRITTEN CONSENT OF LESSOR, ASSIGN THIS LEASE OR ANY INTEREST HEREIN OR SUBLEASE
OR OTHERWISE TRANSFER ITS INTEREST IN ANY OF THE PREMISES, AND ANY ATTEMPTED
ASSIGNMENT, SUBLEASE OR OTHER TRANSFER BY LESSEE IN VIOLATION OF THESE
PROVISIONS SHALL BE VOID.

         26. Further Assurances. Lessee will, at its expense, promptly and duly
execute and deliver to Lessor such further documents and assurances and take
such further action as Lessor may from time to time request in order to more
effectively carry out the intent and purpose of this Lease and to establish and
protect the rights, interests and remedies created or intended to be created in
favor of Lessor hereunder, including, without limitation, the execution and
filing of Uniform Commercial Code financing statements in the jurisdictions in
which the Premises are located. To the extent permitted by applicable law,
Lessee hereby authorizes Lessor to file any such financing statements without
the signature of Lessee. Lessee will pay, or reimburse Lessor for, any and all
out-of-pocket, reasonable fees, costs and expenses of whatever kind or nature
incurred in connection with the creation of this Lease, with the recording or
filing of instruments and documents in public offices, payments or discharge of
any taxes or Liens upon or in respect of the Premises, premiums for insurance
with respect to the Premises and all other fees, costs and expenses in
connection with protecting, maintaining or preserving the Premises and Lessor's
interests therein, whether through judicial proceedings or otherwise, or in
connection with defending or prosecuting any actions, suits or proceedings
arising out of or related to the Premises; and all such amounts that are paid by
Lessor shall, until reimbursed by Lessee, constitute additional rent, payable by
Lessee on demand. Lessee will also provide such information as Lessor may
reasonably require from Lessee to enable Lessor to fulfill all of its tax filing
obligations.

                                       14
<PAGE>   15

         27. Notices. All notices, demands and other communications hereunder
shall be in writing, and shall be deemed to have been given or made when
deposited in the United States mail, first class postage prepaid, addressed as
follows or to such other address as any of the following persons may from time
to time designate in writing to the other persons listed below:

         Lessor:           Cherokee Nitrogen Company
                           16 South Pennsylvania Avenue
                           Oklahoma City, Oklahoma 73107
                           Attention:  President

                           With Copy To:

                           Cherokee Nitrogen Company
                           16 South Pennsylvania Avenue
                           Oklahoma City, Oklahoma 73107
                           Attention:  General Counsel

         Lessee:           El Dorado Chemical Company
                           16 South Pennsylvania Avenue
                           Oklahoma City, Oklahoma 73107
                           Attention:  President

                           With Copy To:

                           El Dorado Chemical Company
                           16 South Pennsylvania Avenue
                           Oklahoma City, Oklahoma 73107
                           Attention:  General Counsel

         28. Miscellaneous.

                  a. Any provision of this Lease which is prohibited or
         unenforceable in any jurisdiction shall, as to such jurisdiction, be
         ineffective to the extent of such prohibition or unenforceability
         without invalidating the remaining provisions hereof, and any such
         prohibition or unenforceability in any jurisdiction shall not
         invalidate or render unenforceable such provision in any other
         jurisdiction. To the extent permitted by applicable law, Lessee hereby
         waives any provision of law which renders any provision hereof
         prohibited or unenforceable in any respect.

                  b. No term or provision of this Lease may be changed, waived,
         discharged or terminated orally, but only by an instrument in writing
         signed by the party against which the enforcement of the change,
         waiver, discharge or termination is sought. No

                                       15
<PAGE>   16
          delay or failure on the part of Lessor to exercise any power or right
          hereunder shall operate as a waiver thereof, nor as an acquiescence in
          any default, nor shall any single or partial exercise of any power or
          right preclude any other or further exercise thereof, or the exercise
          of any other power or right.

                  c. Lessor may assign this Lease and all of Lessor's rights
         hereunder, including the right to receive all rental payments. After
         such assignment, Lessor shall not be Assignee's agent for any purpose.
         Lessee will settle all claims that it may have against Lessor, directly
         with Lessor, and not against Lessor's assignee, Lessor hereby agreeing
         to remain responsible therefor. Lessee on receiving notice of any such
         assignment shall abide thereby and make payment as may therein be
         directed.

                  d. Power of Attorney.

                           (i) Lessee hereby irrevocably constitutes and
                  appoints Lessor and any officer or agent thereof, with full
                  power of substitution, as its true and lawful attorney-in-fact
                  with fully revocable power and authority in the place and
                  stead of Lessee in the name of Lessee or in its own name, from
                  time to time in Lessor's discretion, for the purpose of
                  carrying out the terms of this Lease, to take any and all
                  appropriate action and to execute any and all documents and
                  instruments which may be necessary or desirable to accomplish
                  the purposes of this Lease. Lessee hereby ratifies all that
                  said attorney shall lawfully do or cause to be done by virtue
                  hereof. This power of attorney is a power coupled with an
                  interest and shall be irrevocable.

                           (ii) The powers conferred on Lessor hereunder are
                  solely to protect its interest in the Premises and the
                  proceeds thereof and shall not impose any duty upon it to
                  exercise any such powers. Lessor shall be accountable only for
                  amounts that it actually receives as a result of the exercise
                  of such powers and neither it nor any of its officers,
                  directors, employees or agents shall be responsible to Lessee
                  for any act or failure to act.

                  e. This Lease contains the full, final and exclusive statement
         of the agreement between Lessor and Lessee relating to the lease of the
         Premises.

                  f. This Lease shall constitute an agreement of lease, and
         nothing herein shall be construed as conveying to Lessee any right,
         title or interest in the Premises except as lessee only.

                  g. This Lease and the covenants and agreements contained
         herein shall be binding upon, and inure to the benefit of, Lessor and
         its successors and assigns and Lessee and, to the extent permitted by
         Section 25 hereof, its successors and assigns.

                                       16
<PAGE>   17

                  h. The headings of the sections are for convenience of
         reference only, are not a part of this Lease and shall not be deemed to
         affect the meaning or construction of any of the provisions hereof.

                  i. This Lease may be executed by the parties hereto on any
         number of separate counterparts, each of which when so executed and
         delivered shall be an original, but all such counterparts shall
         together constitute but one and the same instrument.

                  j. THIS LEASE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
         WITH THE LAWS OF THE STATE OF OKLAHOMA.

                  k. LESSOR AND LESSEE IN ANY LITIGATION RELATING TO OR IN
         CONNECTION WITH THIS LEASE IN WHICH THEY SHALL BE ADVERSE PARTIES,
         WAIVE TRIAL BY JURY.

                  l. This Lease shall be in recordable form and shall be filed,
         upon the execution hereof, at the expense of Lessee, in the real estate
         records in the County of Colbert, State of Alabama. In lieu thereof,
         the parties will, simultaneously with the execution of this Lease,
         execute counterparts of an instrument, in recordable form, which when
         completed, will constitute a short form or memorandum of this Lease.
         The short form or memorandum of this Lease will include, but not be
         limited to, a description of the Premises, Commencement Date and Lease
         Term, and such other terms and provisions satisfactory to both parties
         hereto. The short form lease or memorandum of this Lease will be filed
         at the expense of Lessee, in the real estate records in the County of
         Colbert, State of Alabama, where the Premises are located.

         IN WITNESS WHEREOF, Lessor and Lessee have each caused this Lease to be
duly executed as of the day and year first above written.

ATTEST:                                 CHEROKEE NITROGEN COMPANY

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

                                       17
<PAGE>   18

ATTEST:                                 EL DORADO CHEMICAL COMPANY

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

                                       18
<PAGE>   19

STATE OF OKLAHOMA          )
                           ) ss.
COUNTY OF CLEVELAND        )

         On this 2nd day of March, 2001, before me, the undersigned, a Notary
Public in and for the county and state aforesaid, personally appeared Tony M.
Shelby, to me known to be the identical person who signed the name of the maker
thereof to the within and foregoing instrument as Vice President of Cherokee
Nitrogen Company and acknowledged to me that he executed the same as his free
and voluntary act and deed of said company, for the purposes therein set forth.

         Given under my hand and seal the day and year last above written.

                                          ------------------------------------
                                                      Notary Public

My Commission Expires:

----------------------
         [SEAL]

STATE OF OKLAHOMA          )
                           ) ss.
COUNTY OF CLEVELAND        )

         On this 2nd day of March, 2001, before me, the undersigned, a Notary
Public in and for the county and state aforesaid, personally appeared James L.
Wewers, to me known to be the identical person who signed the name of the maker
thereof to the within and foregoing instrument as _____ President of El Dorado
Chemical Company and acknowledged to me that he executed the same as his free
and voluntary act and deed of said company, for the purposes therein set forth.

         Given under my hand and seal the day and year last above written.

                                          ------------------------------------
                                                      Notary Public

My Commission Expires:

----------------------
         [SEAL]

                                       19<PAGE>   1
                                                                   Exhibit 10.29

                             WEBLINK WIRELESS, INC.

                           KEY EMPLOYEE RETENTION PLAN

                                February 14, 2001

Page 1 of 17
<PAGE>   2
                             WEBLINK WIRELESS, INC.

                           KEY EMPLOYEE RETENTION PLAN

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
SECTION 1

           General
           -------
<S>        <C>                                                                    <C>
           1.1       History and Purpose                                          5
           1.2       Plan Administration                                          5
           1.3       Subsidiaries and Employers                                   5
           1.4       Action by Employers                                          5

SECTION 2

           Participation
           -------------
           2.1       Participation                                                5
           2.2       Cessation of Participation                                   6

SECTION 3
           Retention Event and Change in Control
           -------------------------------------
           3.1       Retention Event                                              6
           3.2       Change in Control                                            6
           3.3       Exceptions and Definitions                                   7

SECTION 4

           Retention Bonus
           ---------------
           4.1       Entitlement to Retention Bonus                               8
           4.2       Retention Bonus                                              8
           4.3       Participant's Base Amount                                    8
           4.4       Deemed Retention Event                                       8
           4.5       Multiple Bonuses Prohibited                                  9

SECTION 5

           Severance Benefits
           ------------------
           5.1       Entitlement to Severance Benefits                            9
           5.2       Cause                                                        9
           5.3       Disability                                                   9
</TABLE>

Page 2 of 17
<PAGE>   3
<TABLE>
<CAPTION>
<S>        <C>                                                                    <C>
           5.4       Termination for Good Reason                                  9
           5.5       Severance Benefits                                           10
           5.6       Base Severance Amount                                        10
           5.7       Bonus Payment for Year of Termination                        11
           5.8       Reduction for Other Payments                                 11

SECTION 6

           Confidentiality and Non-Competition
           -----------------------------------
           6.1       Confidentiality and Non-Competition - General                11
           6.2       Confidential Information                                     11
           6.3       Non-Competition                                              12

SECTION 7

           Enforcement
           -----------
           7.1       Arbitration of Disputes                                      13
           7.2       Reimbursement of Costs and Expenses                          13

SECTION 8

           Amendment of Termination
           ------------------------
           8.1       Amendments and Terminations                                  13
           8.2       Participant Rights                                           14
           8.3       Successors                                                   14

SECTION 9

           Miscellaneous
           -------------
           9.1       Adjustments for Tax Effects                                  14
           9.2       Mitigation and Set-Off                                       15
           9.3       Non-Alienation                                               15
           9.4       Withholding                                                  15
           9.5       Source of Payments                                           15
           9.6       Notices                                                      15
           9.7       Gender and Number                                            15
           9.8       No Rights to Employment or Continuation of Relationship      16
           9.9       Governing Law                                                16
</TABLE>

Page 3 of 17
<PAGE>   4
<TABLE>
<CAPTION>
<S>        <C>                                                                    <C>
           9.10      Severability                                                 16
           9.11      No Limitation Upon the Rights of the Company                 16
           9.12      No Liability for Good Faith Determinations                   16
</TABLE>

Page 4 of 17
<PAGE>   5
                             WEBLINK WIRELESS, INC.
                           KEY EMPLOYEE RETENTION PLAN

                                    SECTION 1

                                     GENERAL

           1.1 HISTORY AND PURPOSE. The Board of Directors (the "Board") of
WebLink Wireless, Inc., a Delaware corporation (the "Company"), believes that
the prospect of a pending or threatened Retention Event or Change of Control
(each as defined below) inevitably creates distractions and personal risks and
uncertainties for a company's key employees. The Board further believes that,
because certain key employees' continued performance of their job functions and
duties is critical to the success of the Company, it is in the best interests of
the Company to minimize such distractions and to encourage its key employees'
full attention and dedication to their duties, both currently and in the event
of any threatened or pending Retention Event or Change of Control. Accordingly,
this WebLink Wireless, Inc. Key Employee Retention Plan (the "Plan") is
established by the Company, effective as of February 14, 2001, to promote the
long-term financial interests of the Company and its stockholders by providing
the key employees of the Company and its subsidiaries with (i) an incentive to
remain employed with the Company so they can continue to actively perform their
job functions and duties with full attention and dedication while a Retention
Event or Change in Control is pending, and (ii) assurances of fair and equitable
treatment as well as severance benefits consistent with competitive practices in
the event of a Change in Control of the Company.

           1.2 PLAN ADMINISTRATION. The authority to control and manage the
operation and administration of the Plan shall be vested in the Board.

           1.3 SUBSIDIARIES AND EMPLOYERS. The term "Subsidiary" means any
corporation of which the Company directly or indirectly owns at least 50% of the
combined voting power of all classes of stock entitled to vote. The Company and
each Subsidiary which, with the consent of the Company, adopts the Plan, are
referred to below, collectively, as the "Employers" and individually as an
"Employer."

           1.4 ACTION BY EMPLOYERS. Any action required or permitted to be taken
by any Employer under the Plan shall be by resolution of its Board of Directors
or by writing of a duly authorized officer of the Employer.

                                    SECTION 2

                                  PARTICIPATION

           2.1 PARTICIPATION. The following individuals shall be Participants in
the Plan:

Page 5 of 17
<PAGE>   6
           (1)        All full time regular employees of the Employers (as that
                      classification is used in the normal business practices of
                      the Company) who have been designated as Participants and
                      have had a Retention Percentage and Severance Percentage
                      established by the Board of Directors of an Employer, and

           (2)        who are employed on the date of the applicable Retention
                      Event or Change in Control.

           The participation of each Participant shall be evidenced by a
           Participation Agreement in the form attached hereto as Exhibit A.

           2.2 CESSATION OF PARTICIPATION. All employees of an Employer other
than the Company shall cease to be Participants in, or have any rights under the
Plan as of the date, if any, on which the Employer ceases to be a Subsidiary
prior to a Retention Event or Change in Control.

                                    SECTION 3

                      RETENTION EVENT AND CHANGE IN CONTROL

           3.1 RETENTION EVENT. For purposes of the Plan, the term "Retention
Event" means the first to occur of the following:

           (1)        If a voluntary or involuntary petition in bankruptcy is
                      filed by or against the Company, then the date that is 12
                      months after the date of filing of such petition; or

           (2)        the date a Change in Control occurs; or

           (3)        there is consummated an exchange or series of exchanges of
                      at least $250 million in accreted value of the Company's
                      notes for the Company's equity securities.

           3.2 CHANGE IN CONTROL. For purposes of the Plan, the term "Change in
Control" means the first to occur of the following:

           (1)        any Person or group of Persons acting in concert is or
                      becomes the Beneficial Owner, directly or indirectly, of
                      securities of the Company representing more than 50% of
                      the combined voting power of the Company's then
                      outstanding securities that have the right to vote for the
                      election of directors generally (not including in such
                      securities beneficially owned by such Person any
                      securities acquired directly from or received through an
                      exchange offer with the Company), other than any Person
                      who becomes

Page 6 of 17
<PAGE>   7
                      such a Beneficial Owner in connection with a transaction
                      described in clause (i) of Section 3.2(3); or

           (2)        the following individuals cease for any reason to
                      constitute a majority of the number of directors of the
                      Company then serving: individuals who on the effective
                      date hereof constitute the Board of Directors, and any new
                      director whose appointment or election by the Board of
                      Directors or nomination for election by the Company's
                      stockholders was approved or recommended by at least
                      two-thirds (2/3) of the directors then still in office who
                      either were directors on the date hereof or whose
                      appointment, election or nomination for election was
                      previously so approved or recommended (other than a new
                      director whose initial assumption of office is in
                      connection with an actual or threatened election contest,
                      including but not limited to a consent solicitation,
                      relating to the election of directors of the Company); or

           (3)        there is consummated a merger, consolidation or other
                      business combination (including an exchange of securities
                      with the security holder's of a corporation that is a
                      constituent in such business combination) of the Company
                      or any direct or indirect subsidiary of the Company with
                      any other corporation, other than (i) a merger,
                      consolidation or business combination which would result
                      in the voting securities of the Company outstanding
                      immediately prior to such merger, consolidation or
                      business combination continuing to represent at least a
                      majority of the combined voting power of the securities
                      having the right to vote for the election of directors
                      generally of the Company or the surviving entity or any
                      parent thereof outstanding immediately after such merger,
                      consolidation or business combination (either by remaining
                      outstanding or by being converted into or exchanged for
                      voting securities of the surviving entity or parent
                      thereof); or

           (4)        there is consummated an agreement for the sale, lease or
                      other disposition by the Company of all or substantially
                      all of the Company's assets, other than a sale, lease or
                      other disposition by the Company of all or substantially
                      all of the Company's assets to an entity, at least a
                      majority of the combined voting power of the outstanding
                      securities of which are owned by stockholders of the
                      Company in substantially the same proportions as their
                      ownership of the Company immediately prior to such sale.

           3.3 EXCEPTIONS AND DEFINITIONS. Notwithstanding the foregoing,
neither a "Retention Event" nor a "Change in Control" shall be deemed to have
occurred by virtue of the consummation of any transaction or series of
integrated transactions immediately following which the record holders of the
Common Stock of the Company immediately prior to such transaction or series of
transactions continue to have substantially the same proportionate ownership in
an entity which owns all or substantially all of the assets of the Company
immediately following such transaction or series of transactions.

page 7 of 17
<PAGE>   8
           For purposes of this Section 3, (a) "Person" shall mean any person or
entity other than (1) any employee plan established by the Company, (2) the
Company or any of its affiliates (as defined in Rule 12b-2 promulgated under the
Securities Exchange Act of 1934, as amended (the "Exchange Act")), (3) an
underwriter temporarily holding securities pursuant to an offering of such
securities, or (4) a corporation owned, directly or indirectly, by stockholders
of the Company in substantially the same proportions as their ownership of the
Company and (b) "Beneficial Owner" shall have the meaning set forth in Rule
12d-3 under the Exchange Act.

                                    SECTION 4

                                 RETENTION BONUS

           4.1 ENTITLEMENT TO RETENTION BONUS. Subject to the following
provisions of this Section 4 and Section 6, a Participant shall be entitled to
receive a retention bonus determined in accordance with Section 4.2 if the
Participant remains continuously employed with the Employer (or its successor in
interest) from the date he or she is designated a Participant by the Board
through the date a Retention Event occurs (the "Retention Trigger Date").

           4.2 RETENTION BONUS. A Participant who becomes entitled to a
retention bonus in accordance with the provisions of Section 4.1 shall be
entitled to a lump sum payment in cash no later than ten business days after the
Retention Trigger Date equal to the Participant's Retention Percentage shown in
his/her Participation Agreement times the Participant's Base Amount.

           4.3 PARTICIPANT'S BASE AMOUNT. For purposes of the Plan, the
Participant's Base Amount is equal to the sum of:

           (1)        the Participant's annual rate of salary or base
                      compensation in effect on the Retention Trigger Date, plus

           (2)        the Participant's target bonus percentage rate (including
                      annual and MBO bonus programs) in effect on the Retention
                      Trigger Date times the amount described in clause (1) of
                      this Section.

           4.4 DEEMED RETENTION EVENT. If the Participant's employment is
terminated before the Retention Trigger Date, and such termination is at the
request of a third party who has taken steps to effect a Retention Event or
Change in Control or the termination is by the Participant's Employer for a
reason other than Cause (as defined in Section 5.2), death or Disability (as
defined in Section 5.3) or is by the Participant because of Good Reason (as
defined in Section 5.1), then as to such Participant only, a Retention Event
shall be deemed to have occurred immediately prior to such termination. Such
Participant shall be entitled to a retention bonus equal to such Participant's
Retention Percentage shown in his/her Participation Agreement times the
Participant's Base Amount (as defined in Section 4.3). However, the
Participant's entitlement to a retention bonus shall be

Page 8 of 17
<PAGE>   9
subject to the Participant's execution of a release in form and substance
reasonably acceptable to the Employer, and the retention bonus shall be paid in
cash in equal monthly installments for the number of months equal to the
Retention Percentage multiplied by twelve (12). The first such installment shall
be paid no later than ten (10) business days after the date of termination of
employment.

           4.5 MULTIPLE BONUSES PROHIBITED. The Company will pay a Retention
Bonus to a Participant only one time, even if multiple Retention Events occur.

                                    SECTION 5

                 CHANGE IN CONTROL RETENTION/SEVERANCE BENEFITS

           5.1 ENTITLEMENT TO SEVERANCE BENEFITS. Subject to the following
provisions of this Section 5 and Section 6, a Participant shall be entitled to
receive severance benefits determined in accordance with Section 5.5 if the
Participant's employment with an Employer is terminated during the
24-consecutive-month period immediately following a Change in Control either by
the Participant's Employer for reasons other than Cause (as defined in Section
5.2), death or Disability (as defined in Section 5.3) or by the Participant
because of Good Reason (as defined in Section 5.4).

           5.2 CAUSE. For purposes of this Plan, the term "Cause" means (i) a
Participant willfully engaging in conduct materially injurious to an Employer,
or (ii) the willful and continual failure by a Participant to substantially
perform the duties assigned to the Participant (other than any failure resulting
from the Participant's incapacity due to physical injury or illness or mental
illness), which failure has not been corrected by the Participant within 30 days
after receipt of a written notice from the Chief Executive Officer or Board of
Directors of the Employer specifying the manner in which the Participant has
failed to perform such duties, or (iii) a Participant's violation of the written
policies of the Employer that, in accordance with the normal employment
practices of the Employer, has become a termination event. No act, or failure to
act, by a Participant shall be deemed "willful" unless done, or omitted to be
done, not in good faith and without reasonable belief that such action or
omission was in the best interest of the Employer.

           5.3 DISABILITY. For purposes of this Plan, the term "Disability"
shall have the meaning set forth under the Employer's long-term disability plan
or policy.

           5.4 TERMINATION FOR GOOD REASON. For purposes of this Plan, a
termination because of "Good Reason" means a resignation by a Participant
following the occurrence of:

           (1)        a reduction in the Participant's annual salary or annual
                      bonus opportunity;

           (2)        the failure to continue the Participant's participation in
                      incentive compensation plans or stock option plans on
                      substantially the same basis,

Page 9 of 17

<PAGE>   10

                      both in terms of the amount of benefit provided and the
                      level of the Participant's participation relative to other
                      participant's, as existed immediately before the Change in
                      Control;

           (3)        the assignment to the Participant of duties inconsistent
                      with, or a significant diminution in, the duties,
                      responsibilities or authority of the Participant in effect
                      immediately before a Change in Control, including without
                      limitation imposition of travel obligations that differ
                      materially from required business travel immediately
                      before the Change in Control;

           (4)        if the Participant's position immediately before a Change
                      in Control is that of a Vice President or above elected by
                      the Board of the Company, a diminution in the status of
                      the position of the Participant in effect immediately
                      before the Change in Control, including without limitation
                      a change in the level of the position to which the
                      Participant reports or the assignment to a division,
                      subsidiary or other position that does not have
                      responsibility and authority for the entire consolidated
                      business entity.

           (5)        the relocation of the Participant's principal place of
                      employment without Participant's consent to a location
                      more than twenty-five (25) miles from the location of such
                      principal place of employment immediately prior to the
                      Change in Control;

           (6)        the failure of the Company to obtain a satisfactory
                      agreement from any successor to assume and agree to
                      perform this Plan as contemplated by Section 8.3;

           (7)        the Company's failure to perform or observe any of the
                      material terms of this Plan.

           5.5 SEVERANCE BENEFITS. A Participant who becomes entitled to
severance benefits in accordance with the provisions of Section 5.1 shall,
subject to Participant's execution of a release in form and substance reasonably
acceptable to the Employer, be entitled to a lump sum payment in cash no later
than ten business days after the date of termination equal to the Participant's
Severance Percentage shown in his/her Participation Agreement times the
Participant's Base Severance Amount.

           5.6 BASE SEVERANCE AMOUNT. For purposes of the Plan, the
Participant's Base Severance Amount is equal to the sum of:

           (1)        the Participants' annual rate of salary or base
                      compensation in effect at the time of termination, or as
                      of the date of the Change in Control, if higher; plus

           (2)        the Participant's target bonus percentage rate (including
                      annual and MBO bonus programs) in effect at the time of
                      termination or, if higher, on the date

Page 10 of 17
<PAGE>   11
                      of the Change of Control, times the amount described in
                      clause (1) of this Section.

         5.7 BONUS PAYMENT FOR YEAR OF TERMINATION. If a Participant becomes
entitled to severance benefits under Section 5.5 in accordance with the
provisions of Section 5.1, and the Participant was otherwise participating in
the Company's bonus plans, the Participant shall also be entitled to a lump sum
bonus payment in cash no later than ten business days after the date of
termination equal to the product of the Participant's salary or base
compensation, as determined in Section 5.6(1), times the Participant's target
bonus percentage as of the date of termination or, if higher, the date of the
Change in Control. The payment due under this Section 5.7 shall be prorated for
the number of days employed during the calendar year of termination divided by
365, and the amount of any bonus payments already made for the year shall be
deducted from such prorated amount.

         5.8 REDUCTION FOR OTHER PAYMENTS. The amount of severance benefits to
which a Participant is otherwise entitled upon a termination of employment under
the foregoing provisions of this Section 5 shall be reduced by the amount, if
any, of any other payments actually paid to the Participant by an Employer as
severance by reason of such termination under a plan which provides severance
benefits only or under the terms of an employment contract between the
Participant and the Participant's Employer.

                                    SECTION 6

                       CONFIDENTIALITY AND NON-COMPETITION

           6.1 CONFIDENTIALITY AND NON-COMPETITION - GENERAL. Any benefits
payable under this Plan are conditioned upon and subject to the terms of this
Section 6. To the extent that a Participant violates any provision of this
Section 6, the Company or Employer, as the case may be, will have no further
obligation to provide any benefit or payment due hereunder, and will also have
any other remedies available to the Company for such violation including but not
limited to a preliminary injunction, temporary restraining order or other
equivalent relief. Section 6 is in addition to the confidentiality and
non-competition agreements signed at or during employment with an Employer. The
Participant's receipt of payments under this Plan constitutes the Participant's
ratification and reaffirmation of such prior agreements as well as those in this
Plan.

         6.2  CONFIDENTIAL INFORMATION.  The Participant agrees that:

         (1)         Except as may be required by law, by lawful judicial,
                     governmental or regulatory authority, or by lawful order of
                     a court or agency of competent jurisdiction, or except to
                     the extent required to perform the Participant's duties
                     during the course of his/her employment with Employer or to
                     the extent that the Participant has express written
                     authorization from the Company, the Participant (i) shall
                     keep secret and confidential all Confidential Information
                     (as defined below), (ii) shall not disclose the same,

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<PAGE>   12
                      either directly or indirectly, to any other person, and
                      (iii) shall not use it in any way.

           (2)        For purposes of this Plan, the term "Confidential
                      Information" means all non-public information concerning
                      the Company and its affiliates that was acquired by or
                      disclosed to the Participant during the course of
                      employment with the Employer, or during the course of
                      consultation with the Employer following the Participant's
                      date of termination, including, without limitation:

                      (i)        any non-public information regarding the
                                 Company's and its affiliates' customers,
                                 services, processes, costs, operations and
                                 methods, whether past, current or planned, as
                                 well as knowledge and data relating to business
                                 plans, marketing and sales information
                                 originated, owned, controlled or possessed by
                                 the Company or its affiliates; and

                      (ii)       information regarding litigation and pending
                                 litigation involving or affecting the Company
                                 or its affiliates.

           (3)        To the extent that the Participant obtains information on
                      behalf of the Company or any of its affiliates that may be
                      subject to attorney-client privilege as to the Company's
                      or its affiliates' attorneys, the Participant shall take
                      reasonable steps to maintain the confidentiality of such
                      information and to preserve such privilege.

           (4)        The Participant agrees that effective with the date of
                      termination, the Participant will deliver to the Company
                      all papers, books, manuals, lists, correspondence,
                      documents, computer programs, computer spreadsheets, data
                      captured on machine-readable media, and other material
                      containing or relating to the Confidential Information,
                      together with all copies thereof, that are in the
                      Participant's possession or control, other than such
                      materials as shall be necessary to permit the Participant
                      to prepare the Participant's tax returns.

           (5)        Nothing in this Section 6.2 shall be construed so as to
                      prevent the Participant from using, in connection with his
                      employment for himself or an employer other than the
                      Company or any of its affiliates, knowledge that was
                      acquired by Participant during the course of his
                      employment with the Company and its affiliates, and which
                      is generally known to persons of his experience in other
                      companies in the same industry.

         6.3 NONCOMPETITION. Each Participant who holds the position of Director
or higher as of the date of a Change of Control, and who becomes eligible for a
Severance Benefit under Section 5.5, agrees as further consideration for such
benefit that, for a period of one (1) year after the date of termination, the
Participant shall not be employed by, or otherwise engage or be interested in,
any business which is competitive with any business of the Company or of any of
its subsidiaries in which the Participant was engaged during

Page 12 of 17
<PAGE>   13
his employment prior to his termination, but this restriction shall apply only
if such employment or activity is likely to cause, or causes, serious damage to
the Company or any of its subsidiaries.

                                    SECTION 7

                                   ENFORCEMENT

           7.1 ARBITRATION OF DISPUTES. All claims arising out of or relating to
this Plan shall be settled by arbitration in the city in which the principal
executive offices of the Participant's Employer are located (disregarding any
transfer of such offices after a Change in Control), by three arbitrators, one
of whom shall be appointed by the Company, one by the Participant and the third
of whom shall be appointed by the first two arbitrators. If the first two
arbitrators cannot agree on the appointment of a third arbitrator, then the
third arbitrator shall be appointed by the Chief Judge of the United States
District Court for such location. Each party shall pay the fees and expenses of
the arbitrator appointed by it and one-half of the fees and expenses of the
third arbitrator. The arbitration shall be conducted in accordance with the
rules of the American Arbitration Association, except with respect to the
selection of arbitrators which shall be as provided in this Section. The
decision of the arbitrators shall be final and binding and judgment upon the
award rendered by the arbitrators may be entered in any court having
jurisdiction thereof.

           7.2 REIMBURSEMENT OF COSTS AND EXPENSES. In the event that it shall
be necessary or desirable for a Participant to retain legal counsel or incur
other costs and expenses in connection with enforcement of rights under the
Plan, the Employer shall pay (or the Participant shall be entitled to recover
from the Employer, as the case may be) reasonable attorneys' fees and costs and
expenses in connection with enforcement of such rights (including the
enforcement of any arbitration award in court) to the extent determined by the
arbitrators.

                                    SECTION 8

                            AMENDMENT OR TERMINATION

           8.1 AMENDMENT AND TERMINATION. Subject to the provisions of Section
8.2:

           (1)        The Company's Vice President - Human Resources, or such
                      other officer of the Company as may from time to time be
                      primarily responsible for human resource matters, may,
                      with the concurrence of the Company's Vice President and
                      General Counsel, make minor or administrative written
                      amendments to the Plan;

Page 13 of 17
<PAGE>   14
           (2)        the Board of Directors of any Employer may terminate or,
                      with the consent of the Company's Board of Directors,
                      amend the Plan in writing as applied to it at any time;

           (3)        the Company's Board of Directors may terminate the Plan as
                      applied to it or as applied to each Employer at any time;
                      and

           (4)        this Plan will automatically terminate on December 31,
                      2002 unless a Retention Event or Change of Control has
                      theretofore occurred, is then pending or circumstances
                      have arisen that could result in a Retention Event or
                      Change in Control.

         8.2 PARTICIPANT RIGHTS. No amendment or termination of the Plan which
would directly or indirectly adversely affect any Participant shall be effective
if adopted after a Retention Event or Change in Control or during the one-year
period immediately preceding the Retention Trigger Date or a Change in Control.

         8.3 SUCCESSORS. The obligations of each Employer under the Plan shall
be binding upon any assignee or successor in interest thereto. No Employer shall
merge, consolidate or combine with any other corporation, or liquidate or
dissolve, without making suitable arrangements for the payment of any benefits
which are or may become payable under the Plan.

                                    SECTION 9

                                  MISCELLANEOUS

         9.1 ADJUSTMENT FOR TAX EFFECTS. If any payments or the value of any
benefits received or to be received by the Participant under this Agreement,
after taking into account all other payments and all other benefits to which the
Participant is entitled in connection with a Change in Control or the
Participant's termination of employment, are subject to an excise tax under
Section 4999 of the Internal Revenue Code of 1986 (the "Code") or any successor
provision to that Section, the payments and benefits to which the Participant is
entitled under this Agreement shall, unless the Participant's employment
agreement with the Employer provides for tax gross-up benefits, be reduced to
the extent required to avoid such excise tax if, and only if, such reduction
would result in a larger after-tax benefit to the Participant, taking into
account all applicable local, state, federal and foreign income and excise
taxes. The Participant shall be entitled to select the order in which payments
are to be reduced in accordance with the preceding sentence. If requested by the
Participant, the Company shall provide complete compensation and tax data on a
timely basis to the Participant and to tax counsel designated by the Participant
in order to enable the Participant to determine the extent to which such
payments and benefits may result in an excise tax, and the Company shall
reimburse the Participant for any reasonable fees and expenses incurred by the
Participant for such purpose. If the Participant and the Company shall disagree
as to whether a payment or benefit under this

Page 14 of 17
<PAGE>   15
Agreement will result in an excise tax or whether a reduction in any payment or
benefit will result in a larger after-tax benefit to the Participant, the matter
shall be resolved by an opinion of tax counsel chosen by the Participant. The
Company shall pay the fees and expenses of such tax counsel, and shall make
available such information as may be reasonably requested by such advisor to
prepare the opinion. If, by reason of the adjustments under this section, the
amount payable to the Participant cannot be determined prior to the due date for
such payment, the Company shall pay on the due date the minimum amount which it
in good faith determines to be payable and the Company shall pay the remaining
amount (or the Participant shall repay any excess), with interest at a rate,
compounded semi-annually, equal to 120% of the applicable Federal rate
determined under Section 1274(d) of the Code, as soon as such remaining amount
is determined in accordance with this Section.

         9.2 MITIGATION AND SET-OFF. No Participant shall be required to
mitigate the amount of any payment provided for in this Plan by seeking other
employment or otherwise. Subject to Section 6, above, the Employers shall not be
entitled to set off against the amounts payable to any Participant under this
Plan any amounts owed to the Employers by the Participant, any amounts earned by
the Participant in other employment after termination of the Participant's
employment with the Employer, or any amount which might have been earned by the
Participant in other employment had he sought such other employment.

         9.3 NON-ALIENATION. Participants shall not have any right to pledge,
hypothecate, anticipate or in any way create a lien upon any amounts provided
under this Plan; and no benefits payable hereunder shall be assignable in
anticipation of payment either by voluntary or involuntary acts or by operation
of law. Nothing in this Section shall limit a Participant's rights or powers to
dispose of the Participant's property by will or limit any rights or powers
which the Participant's executor or administrator would otherwise have.

         9.4 WITHHOLDING. All payments to a Participant under this Plan will be
subject to all applicable withholding of state and federal taxes.

         9.5 SOURCE OF PAYMENTS. The obligations of the Employers under the Plan
are solely contractual, and any amount payable under the terms of the Plan shall
be paid from the general assets of the Employers or from one or more trusts, the
assets of which are subject to the claims of the Employers' general creditors.

         9.6 NOTICES. Any notice or document required to be given under the Plan
shall be considered to be given if actually delivered or mailed by certified
mail, postage prepaid, if to an Employer, to the General Counsel of the Company
at the Company's principal business address or, if to a Participant, at the last
address of such Participant filed with the Employer.

           9.7 GENDER AND NUMBER. Where the context permits, words in any gender
shall include any other gender, words in the singular shall include the plural,
and the plural shall include the singular.

Page 15 of 17
<PAGE>   16
         9.8 NO RIGHT TO EMPLOYMENT OR CONTINUATION OF RELATIONSHIP. Nothing in
this Plan shall confer upon or be construed as giving any Participant any right
to remain in the employ of an Employer. An Employer may at any time dismiss a
Participant from employment free from an liability or any claim except as
expressly provided in this Plan. No employee of any Employer shall have any
claim to be designated a Participant and there is no obligation for uniformity
of treatment of any employee of an Employer.

         9.9 GOVERNING LAW. EXCEPT AS TO MATTERS RELATING TO THE INTERNAL
AFFAIRS OF THE COMPANY WHICH SHALL BE GOVERNED BY THE DELAWARE GENERAL
CORPORATION LAW, THE VALIDITY, CONSTRUCTION AND EFFECT OF THIS PLAN AND ANY
RULES AND REGULATIONS RELATING TO THIS PLAN SHALL BE DETERMINED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF TEXAS, WITHOUT GIVING EFFECT TO THE CONFLICT OF
LAWS PRINCIPLES THEREOF AND WILL, TO THE MAXIMUM EXTENT PRACTICABLE, BE DEEMED
TO CALL FOR PERFORMANCE IN DALLAS COUNTY, TEXAS.

         9.10 SEVERABILITY. If any provision of this Plan is or becomes or is
deemed to be invalid, illegal or unenforceable in any jurisdiction or as to any
individual Participant, or would disqualify this Plan under any law deemed
applicable by the Board, such provision shall be construed or deemed amended to
conform to applicable law, or if it cannot be construed or deemed amended
without, in the sole determination of the Board, materially altering the intent
of this Plan, such provision shall be stricken as to such jurisdiction or
Participant and the remainder of this Plan shall remain in full force and
effect.

         9.11 NO LIMITATION UPON THE RIGHTS OF THE COMPANY. This Plan shall not
affect in any way the right or power of the Company to make adjustments,
reclassifications, or changes of its capital or business structure; to merge,
convert or consolidate; to dissolve or liquidate; or sell or transfer all or any
part of its business or assets.

         9.12 NO LIABILITY FOR GOOD FAITH DETERMINATIONS. The members of the
Board shall not be liable for any action, failure to act, omission or
determination taken or made in good faith with respect to this Plan.

Page 16 of 17
<PAGE>   17
                                    EXHIBIT A

                             PARTICIPATION AGREEMENT

           You have been designated by the Board of Directors as a Participant
in the WebLink Wireless, Inc. Key Employee Retention Plan (the "Plan") with the
following Retention Percentage and Severance Percentage:

           Name of Participant:
                                  --------------------------------------------
           Position:
                                  --------------------------------------------
           Retention Percentage:
                                  -----------------------------
           Severance Percentage:
                                  -----------------------------

           Your participation in the Plan is subject to and in accordance with
the express terms and conditions of the Plan. You agree to be bound by the terms
and conditions of the Plan, and acknowledge that you have received a copy of the
Plan.

           Dated as of
                       ----------------.

                                                      WEBLINK WIRELESS, INC.

                                                      By:
                                                              -----------------

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

Participant:

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

-----------------------------------
Printed Name

Page 17 of 17

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