Document:

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                                                                Exhibit 10.18(1)

                            NONCOMPETITION AGREEMENT
                            ------------------------

     This Noncompetition Agreement (the "Agreement") is made and entered into
this 13th day of May, 1996, by and between Leggett & Platt, Incorporated, a
Missouri corporation (the "Company") and Bob L. Gaddy ("Shareholder").

                                    RECITALS
                                    --------

          A. Pace Holdings, Inc. and its subsidiaries, including Pace
Industries, Inc. (the "Holdings Group"), are engaged in the business of
manufacturing aluminum die casting products and related tool and die products
(the "Business");

          B. Pursuant to a Merger Agreement by and among the Company, Pace
Holdings, Inc., a Delaware corporation ("Holdings"), Pace Industries, Inc., an
Arkansas corporation ("Pace") and L&P Acquisition Company - 7, a Delaware
corporation ("L&P Sub"), the Company is acquiring all the outstanding equity
interests of Holdings;

          C. Shareholder owns an equity interest in Holdings, and as a material
inducement to the Company to consummate the Merger Agreement and pay the Merger
Consideration, Shareholder has agreed to enter into this Agreement;

          NOW, THEREFORE, in consideration of the above and other good and
valuable consideration, the receipt and sufficiency of which the parties hereby
acknowledge, the parties hereto agree as follows:

          1. Noncompetition Restrictions. Shareholder agrees that during the
period of five (5) years from the execution date of this Agreement (the
"Restricted Period"), Shareholder will not, directly or indirectly:

               (a) engage or participate in any way, as an owner, officer,
partner, member, employee, agent, independent contractor, board member,
shareholder or otherwise, in any business activities competitive with or
directly related to the Business anywhere in North America (the "Territory");

               (b) solicit or otherwise encourage any officer, employee, agent
or independent contractor of the Company to terminate or alter his or her
relationship with the Company or;

               (c) disturb or interfere with, in any way, as an owner, officer,
partner, member, employee, agent, independent contractor, board member,
shareholder or otherwise, the business relationships relating to the Business
now existing or hereafter developed between the Holdings Group and any of its
customers

<PAGE>

suppliers or other parties, or in any such capacity solicit orders from or
propose to do any business competitive to the Holdings Group with any customer
of the Holdings Group.

               (d) Nothing in this Section 1 shall be construed to prevent
Shareholder from owning, as an investment, not more than five percent (5%) of a
class of equity securities issued by any competitor of the Holdings Group listed
on any national securities exchange or traded over the counter, provided
Shareholder has no other connection or relationship, direct or indirect, with
the issuer of such securities.

     2. Confidentiality. Shareholder agrees to keep secret and confidential, and
not to use or disclose directly or indirectly to any third-parties, any of the
Holdings Group's proprietary trade secret information or other confidential
business information concerning the Holdings Group's Business. In addition to
any common law or statutory restrictions upon Shareholder's use, disclosure or
exploitation of confidential, proprietary or secret information of the Holdings
Group, Shareholder agrees that it, he or she will not, directly or indirectly,
use for himself or herself or use for, or disclose to, any party other than the
Company, any secret, proprietary or confidential information or data regarding
the Business, including, but no limited to, business or trade secrets, price
lists, methods, formulas, know-how, marketing plans, research and development
and financial information (collectively, the "Confidential Information").

     3. Third Party Beneficiaries. Shareholder acknowledges and agrees that any
person or entity directly or indirectly controlling, controlled by or under
direct or indirect common control with the Company is a third party beneficiary
of this Agreement and shall have any and all rights as set forth in Section 5 of
this Agreement.

     4. Non-Waiver of Rights. The Company's failure to enforce at any time any
of the provisions of this Agreement or to require at any time performance by
Shareholder or any of the provisions hereof shall in no way be construed to be a
waiver of such provisions or to affect either the validity of this Agreement,
or any part hereof, or the right of the Company thereafter to enforce each and
every provision in accordance with the terms of this Agreement.

     5. Company's Right to Injunctive Relief. In the event of a breach or
threatened breach of any of duties and obligations of Shareholder under this
Agreement, the Company shall be entitled, in addition to any other legal or
equitable remedies the Company may have in connection therewith (including any
right to damages that the Company may suffer), to a temporary, preliminary
and/or permanent injunction restraining such breach or threatened breach.
Shareholder specifically agrees that, in the event there is a question as to the
enforceability of Section 1 hereof, Shareholder will not engage in any conduct
inconsistent with or contrary to that Section until after the question has been
resolved by an final judgment of a court of competent jurisdiction.

<PAGE>

     6. Invalidity of Provisions. In the event that any provision of this
agreement is adjudicated to be invalid or unenforceable under applicable law,
the validity or enforceability of the remaining provisions shall be unaffected.
To the extent that any provision of this Agreement is adjudicated to be invalid
or unenforceable because it is overbroad, that provision shall not be void but
rather shall be limited only to the extent required by applicable law and
enforced as so limited.

     7. Assignment. This Agreement shall be freely assignable by the Company to,
and shall inure to the benefit of, any other corporate entity that shall succeed
to all or a portion of the Business presently being conducted by the Company.

     8. Choice of Forum and Governing Law. This agreement shall be governed by
and construed in accordance with the laws of the State of Missouri.

     9. Representations of Shareholder. Shareholder represents that the
execution and delivery of this Agreement do not violate any other contractual
obligation of Shareholder. Shareholder further agrees to defend, indemnify and
hold harmless the Company against all claims, demands, losses, damages or
expenses, including reasonable attorney's fees, suffered or incurred as a result
of any violation of its or his respective representations contained in this
Section 9.

     10. Right to Recover Costs. Shareholder undertakes and agrees that if it or
he breaches or threatens to breach this Agreement, Shareholder shall be liable
for any attorneys' fees and costs incurred by the Company I enforcing its rights
hereunder.

     11. Amendments. No modification, amendment or waiver of any of the
provisions of this Agreement shall be effective unless in writing specifically
referring hereto and signed by the parties hereto.

     12. Tolling. Shareholder acknowledges and agrees that the running of the
time period in Section 1 shall be tolled with respect to Shareholder during any
period in which Shareholder violates that Section.

     13. Rule of Construction. The rule of construction to the effect that
ambiguities are to be resolved against the drafting party shall not be employed
in interpreting this Agreement.

     14. Headings. Section headings are provided in this Agreement for
convenience only and shall not be deemed substantively alter the content of such
sections.

     15. Counterparts. This Agreement may be executed simultaneously in multiple
counterparts, each of which shall be deemed an original, but all of which taken
together shall constitute one and the same instrument.

<PAGE>

     PLEASE NOTE: BY SIGNING THIS AGREEMENT, SHAREHOLDER IS HEREBY CERTIFYING
THAT IT, HE OR SHE (A) RECEIVED A COPY OF THIS AGREEMENT FOR REVIEW AND STUDY
BEFORE EXECUTING IT; (B) READ THIS AGREEMENT CAREFULLY BEFORE SIGNING IT; (C)
HAD SUFFICIENT OPPORTUNITY BEFORE SIGNING THE AGREEMENT TO ASK ANY QUESTIONS IT,
HE OR SHE HAD ABOUT THE AGREEMENT AND RECEIVED SATISFACTORY ANSWERS TO ALL SUCH
QUESTIONS; AND (D) UNDERSTANDS ITS OR HIS OR HER RIGHTS AND OBLIGATIONS UNDER
THIS AGREEMENT.

                          LEGGETT & PLATT, INCORPORATED

                          By:  /s/ R.A. Jefferies, Jr.
                               --------------------------------------
                          Name:  R.A. Jefferies, Jr.
                                 ------------------------------------
                          Title:  Senior Vice President
                                  -----------------------------------

                          SHAREHOLDER

                          /s/ Bob L. Gaddy
                          -------------------------------------------
                          Name<PAGE>

                                                                Exhibit 10.19(1)

                              PACE INDUSTRIES, INC.
                              ---------------------

            REVISED AND RESTATED EMPLOYEE INCENTIVE COMPENSATION PLAN
            ---------------------------------------------------------

     This Revised and Restated Employee Compensation Plan (the "Plan") is
adopted as of May 13, 1996 by Pace Industries, Inc., an Arkansas corporation
(the "Company"), a wholly-owned subsidiary of Leggett & Platt, Incorporated, a
Missouri corporation ("L&P").

                                    RECITALS
                                    --------

     This Plan is a successor to and modified version of the Employee Incentive
Compensation Plan (the "Former Plan") adopted on December 10, 1993 by the
Company.

     In consideration of good and valuable benefits received and to be received
by it, intending to be legally bound hereby and acknowledging that its Employees
(as defined below) will act in reliance upon the provisions hereof, the Company
and L&P agree as follows:

     1. Bonus Pool; Operating Profit Targets. The Company shall pay as
additional annual compensation to its employees designated by the Designation
Committee. The "Designation Committee" shall consist of Bob L. Gaddy ("Gaddy"),
so long as he is employed by the Company or L&P or, if Gaddy is not employed by
the Company or L&P, a committee consisting of the then Chief Executive Officer
of the Company and two other persons designated by the Plan Executive who were
participants in the Plan for the immediately preceding Plan Year. For purposes
of this Plan, the "Plan Executive" means Felix E. Wright or, if he is no longer
employed by L&P, Mr. Wright's successor.

     Subject to the terms and conditions set forth herein, an annual bonus
("Bonus Pool") shall be established in respect of each year (each, a "Plan
Year") during the six fiscal years ending on June 30, 1994 through June 30, 1999
(the Plan's "Term"), the amount of the Bonus Pool to be determined as provided
herein and paid as provided in Sections 3(B), (C) and (D). The Bonus Pool is to
be the amount by which Operating Profit (as defined herein) exceeds the "Target"
for each Plan Year as follows:

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<TABLE>
<CAPTION>

            if Operating Profit exceeds
                the following Target                                      Bonus Pool is
                --------------------                                      -------------
               In the Plan Year 1994

<S>                                  <C>               <C>
Minimum Target:                        $21.5 million     5% of excess over 21.5 million
Mid-Range Target:                       23.0 million     10% of excess above 21.5 million
Upper Range Target:                     28.0 million     10% of excess between 21.5 million and 23.0
                                                         million plus 20% of excess above 23.0 million

               In the Plan Year 1995

Minimum Target:                        $26.0 million     5% of excess over 26.0 million
Mid-Range Target:                       28.0 million     10% of excess above 26.0 million
Upper Range Target:                     32.3 million     10% of excess between 26.0 million and 28.0
                                                         million plus 20% of excess above 28.0 million

               In the Plan Year 1996

Minimum Target:                        $30.0 million     5% of excess over 30.0 million
Mid-Range Target:                       32.3 million     10% of excess above 30.0 million
Upper Range Target:                     35.0 million     10% of excess between 30.0 million and 32.3
                                                         million plus 20% of excess above 32.3 million

               In the Plan Year 1997

Minimum Target:                        $32.6 million     5% of excess over 32.6 million
Mid-Range Target:                       35.0 million     10% of excess above 32.6 million
Upper Range Target:                     37.0 million     10% of excess between 32.6 million and 35.0
                                                         million plus 20% of excess above 35.0 million

               In the Plan Year 1998

Minimum Target:                        $34.4 million     5% of excess over 34.4 million
Mid-Range Target:                       37.0 million     10% of excess above 34.4 million
Upper Range Target:                     40.0 million     10% of excess between 34.4 million and 37.0
                                                         million plus 20% of excess above 37.0 million

               In the Plan Year 1999

Target:                                $43.0 million     10% of excess over $43.0 million, but Bonus Pool
                                                         not to exceed $2.0 million
</TABLE>

For the Plan Year 1994, the Operating Profit shall be computed for the twelve
month period notwithstanding that this Plan was not in effect for all of such
period. If the amount of Operating Profit for such twelve month period exceeds
the Target amount set forth above, the Bonus Payment shall be computed and paid
as if this Plan had been in effect for the entire period.

     2.   Determination of Operating Profits.

<PAGE>

               (A) Subject to Schedule A to this Plan, "Operating Profit" means
the earnings from the Company's operations before federal, state and local
income taxes ("Pre-Tax Earnings") but after adding back (deducting) the
following:

               (i)    interest expense (except for any discounts granted to
                      customers for early payment of invoices which have been
                      accounted for as interest expense) and financing costs;

               (ii)   costs attributable to the amortization of the purchase
                      price premium resulting from the December 10, 1993
                      leveraged buy out transaction involving the Predecessor
                      Company (the "1993 LBO") as well as all acquisition and
                      closing costs incurred in the consummation of the
                      financing and acquisition of the 1993 LBO;

               (iii)  extraordinary losses (gains) under generally accepted
                      accounting principles;

               (iv)   losses (gains) on capital assets;

               (v)    management fees paid to any stockholder or designee of
                      a stockholder of the Company (except to employees of
                      the Company) or pursuant to the Consulting Agreement
                      dated December 10, 1993 between Peninsula Corporation
                      and the Company;

               (vi)   out of pocket costs pertaining to any merger or
                      consolidation before, on or after the date of this Plan
                      involving the Company;

               (vii)  any amounts of amortization made on account of the $10
                      million of noncompetition payments made to certain
                      stockholders of the Company under agreements dated
                      December 10, 1993;

               (viii) costs related to any material disposition by the
                      Company of its assets or material acquisition of any
                      entity or its assets by the Company;

               (ix)   the amounts required by Schedule A hereto to be added
                      back or deducted; and

               (x)    (a) the amounts earned and accrued as bonuses in Plan
                      Year 1996-1999 under the Patterson Mold and Tool
                      Employee Incentive Compensation Plan dated October 11,
                      1995, (b) the amounts earned and accrued as bonuses in
                      Plan Year 1997-1999 under the Pace Industries Puget
                      Division, Inc. Employee

<PAGE>

               Incentive Compensation Plan adopted July 13, 1995 and (c) this
               Bonus Pool.

          (B)  The Company agrees to maintain such separate books and accounting
               records as shall be necessary to implement the foregoing.
               Promptly after the Company receives its certified financial
               statements for each of the Company's Plan Years, the company
               shall cause its independent certified public accountants to
               prepare a statement showing their calculation of the Operating
               Profit as defined herein for such period, and furnish the same to
               Gaddy and to the Board of Directors of the Company.

          After the date hereof, L&P's independent certified public accountants
shall function as the Company's independent certified public accountants and
shall determine Operating Profits. L&P and Gaddy may from time to time agree
that the determination of Operating Profit may be based on such accounting
procedures less than an audit as L&P and Gaddy may agree. Accounting fees and
expenses shall be deducted on a cash basis when computing Pre-Tax Earnings. If
no audit of the Company is agreed upon under this Plan for 1997 or later Plan
Year, then the Pre-Tax Earnings for that year will be reduced by the amount
audit fees and expenses of the Company for its fiscal year ending June 30, 1995
exceed accounting fees and expenses for the Plan Year in question.

          (C) The determination of the Company's Operating Profit in the manner
divided by this Plan shall be conclusive and binding upon the Company, Gaddy and
the Employees, in the absence of manifest error. In the event that, during the
term of this Plan, there is a change in accounting principles or practices used
in connection with the Former Plan (including any changes in the methods for
determining contingencies and other reserves) or a revaluation of assets, Gaddy
and the Company (or in the event of their inability to agree, the Company's
independent certified public accountants) shall make a determination as to any
adjustments in accordance with generally accepted accounting principles needed
in order to preserve the intent of this Plan from the effect of any such change
in accounting principles or practices or revaluation of assets; and their
determination shall be conclusive and binding upon the parties hereto, in the
absence of manifest error.

          For purposes of determining Pre-tax Earnings for any Plan Year the
Company's accounting practices concerning fourth quarter special sales
arrangements with certain customers shall not be modified without the consent of
the Designation Committee and the Plan Executive.

          (D) Any Target may be reduced by the vote in favor or consent of at
least 70% of the members of the Board of Directors at any time.

     3.   Participants in Bonus Pool; Payment of Bonuses.

<PAGE>

          (A) ("Employee") shall mean Gaddy, so long as he is employed by the
Company or L&P at the end of each Plan Year and such other officers and
managerial personnel employed by the Company or L&P as the Designation Committee
shall designate.

          The Bonus Pool for each Plan Year shall be allocated among such
designees as the Designation Committee shall recommend after the conclusion of
each Plan Year; provided, however, the designation and allocation shall be
subject to the approval of the Plan Executive. After the determination by the
Company's independent certified public accountants of the Operating Profit for
the relevant Plan Year, the Company shall pay the Bonus Pool hereunder, if any
(less proper withholdings for federal and other taxes), to the Employees
designated for that Plan Year in the amount allocated to each Employee in the
manner set forth in Sections 3(B), (C) and (D).

          (B) The Bonus Pool for all Plan Years through 1995 has been paid to
participating Employees.

          (C) 43% of the bonus allocated to each Employee for each of the Plan
Years 1996 through 1998 will become "vested" when allocated to the Employee and
will promptly thereafter be paid to the Employee. The remaining portions of the
bonus allocated to each Employee will not be paid until the same becomes vested.
Vesting and hence payment will occur as follows provided the Employee remains
continuously employed by the Company or L&P on a full time basis through each
vesting date:

Vesting Date/Payment Date           Vesting Rate              Cumulative Vesting

     June 30, 1999                      25%                          25%
     June 30, 2000                      25%                          50%
     June 30, 2001                      25%                          75%
     June 30, 2002                      25%                         100%

          Notwithstanding the preceding paragraph, the unvested portions of the
bonuses allocated to each Employee will become 100% vested if the Employee's
employment with the Company is terminated by death or disability, but in such
instance payment of the remaining portions of the Employee's bonus will be as
per the payment dates set out above.

          Those portions of an Executive's Bonus for any of Plan Years 1996
through 1999 which do no vest under this Plan shall cease to be a part of the
Bonus Pool.

          Whenever a portion of a 1996 Plan Year, 1997 Plan Year or 1998 Plan
Year Bonus becomes vested and is paid, interest on such portion at 6.5% shall
then be accrued and paid.

<PAGE>

          (D) 25% of the bonus allocated to each Employee for Plan Year 1999
will become vested when allocated to the Employee and will promptly thereafter
be paid to the Employee. The remaining portions of the Bonus for each Employee
will, beginning on June 30, 2000, vest and be paid as provided in Section 3(C)
except that no interest will accrue on that portion of the Bonus which is
subject to vesting requirements.

          (E) If an employee under an employment contract on the date hereof has
his employment terminated by disability such employee shall be designated an
Employee for the Plan Year in which his employment terminates and each
succeeding Plan Year (collectively the "Disability Years"). The disabled
Employee's allocation of the Bonus Pool in each of the Disability Years shall
equal his average percentage allocation in the Plan Year(s) preceding
disability. All bonuses allocated to the disabled Employee for the Disability
Years shall be vested but shall be paid in accordance with Section 3(C).

     4. No Right to Share in Bonus Pool. An employee of the Company shall have
no right to be designated an Employee as respects any Plan Year (except as
provided in 3(E) above) unless designated by the Designation Committee and
approved by the Plan Executive for a Plan Year; provided, however, the
Designation Committee may designate an employee to share in the Bonus Pool whose
employment has been terminated prior to such designation. Once designated an
Employee for a Plan Year the Employee shall have all the rights provided for in
this Plan as respects the portion of the Bonus Pool allocated to such Employee
for that particular Plan Year but no other.

     5. No Assignment or Pledge of Rights. The rights and obligations under this
Plan may not be assigned, pledged or otherwise transferred by any Employee at
any time and shall not inure to the benefit of any Employee, his representative
or assign. The Plan shall be construed and enforced in accordance with the laws
of the State of Arkansas. Any assignment, pledge or other transfer any right of
any Employee hereunder shall be null and void and of no effect and shall, at the
Company's option, terminate the Employee's right hereunder to any payment.

     6. Plan Has Been Authorized. The Company represents and warrants that this
Plan has been duly approved and its execution and delivery duly authorized by
all necessary corporate action of its directors, and that it is a valid and
binding obligation of the Company enforceable against the Company in accordance
with its terms.

     7. Plan Amendments. The Company may amend the Plan in any respect;
provided, however, that (i) the Target for each Plan Year may not be increased
nor (ii) may the timing or other terms of payment be changed in a manner adverse
to Employees unless a change contemplated by (i) or (ii) is approved by: (a)
Gaddy, so long as Gaddy is an Employee; and (b) Employees (including Gaddy) to
whom not less

<PAGE>

than 75% of the Bonus Pool for the immediately preceding Plan Year has been
allocated.

     8. L&P's Guarantee. L&P joins in the execution of the Plan to guarantee
full performance by the Company with the terms of the Plan.

     9. Revision of Plan to Include L&P Aluminum Operations. The Company and L&P
plan to work closely together to revise this Plan so that Operating Profit
Targets for Plan Year 1997 and later Plan Years will be based upon the Company's
current Plan targets and the projected consolidated Operating Profits of L&P's
EST, Assured and Culp operations. Schedule B sets out the initial thoughts of
the Company and L&P on this process. However, nothing in this Plan or in
Schedule B requires the Company or L&P to reach "agreement" on consolidated
Operating Profit Targets and related topics. In the absence of reaching
agreement, this Plan shall continue in full force in accordance with its terms.

PACE INDUSTRIES, INC.                       LEGGETT & PLATT, INCORPORATED

By:      /s/ Bob L. Gaddy                   By:      /s/ R.A. Jefferies, Jr.
   ------------------------                    ---------------------------------
Name:    Bob L. Gaddy                       Name:    R.A. Jefferies, Jr.
     ----------------------                      -------------------------------
Title:   Chairman & CEO                     Title:   Senior Vice President
      ---------------------                       ------------------------------

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