Document:

EXHIBIT
10.47

EMPLOYMENT AGREEMENT

THIS EMPLOYMENT
AGREEMENT ("Agreement") is entered
into by and between Jeffrey A. Klopf (the
"Executive") and Global Signal
Services LLC (the "Company") on
November 1, 2005.

WHEREAS, the Company desires to provide for
the service and employment of the Executive with the Company and the
Executive wishes to perform services for the Company, all in accordance
with the terms and conditions provided herein.

NOW, THEREFORE,
in consideration of the mutual agreements hereinafter set forth, the
Executive and the Company hereby agree as follows:

Section 1.    EMPLOYMENT.    

The
Company does hereby employ the Executive and the Executive does hereby
accept employment as General Counsel of the Company, Executive Vice
President of Legal Department. The Executive shall have all the duties;
responsibilities and authority normally performed by a general counsel
and shall render services consistent with such position. In addition,
Executive shall assume the title and be assigned the responsibility of
Secretary of the Company following appointment to such office by the
Board of Directors (the "Board") of
the Company's parent, Global Signal Inc.
("GSL"). The Executive agrees to
devote all of his working time and efforts to the business and affairs
of the Company, GSL and their respective subsidiaries, subject to
periods of vacation and sick leave to which he is entitled, and shall
not engage in activities that substantially interfere with such
performance.

Section 2.    EMPLOYMENT-AT-WILL;
TERM OF AGREEMENT.    

The Executive understands and
agrees (i) that he is an employee-at-will, (ii) that this Agreement
does not constitute, for any reason, a guaranty or promise of continued
employment with the Company (with the
"Company" understood, for purposes of this
Section 2, to include any subsidiary of the Company or GSL and any
successor in interest to the Company or GSL or to any such subsidiary),
(iii) that the commencement of his employment with the Company does not
constitute, for any reason, a guaranty or promise of continued
employment with the Company and (iv) that the continuation of his
employment with the Company for any period of time does not constitute,
for any reason, a guaranty or promise of continued employment with the
Company. The Executive acknowledges that this Agreement has no term,
and that the Company may terminate the Executive's employment
with the Company at any time, with or without cause, subject to the
Company's obligations set forth in Section 5 below relating to
the payment of severance. The obligations under this Agreement shall
commence on or about November 1, 2005, or such other date as shall be
agreed upon by Executive and the Company's President (the date on
which Executive actually commences work, the
"Commencement Date"), which shall be
considered the Executive's first day of employment with the
Company.

Section
3.    LOCATION.    

In connection with the
Executive's employment by the Company, the Executive shall be
based at the Company's headquarters, currently located in
Sarasota, Florida, except for required travel for the Company's
business.

Section
4.    COMPENSATION.    

(a)    BASE
SALARY.     Effective as of the Commencement Date, for all
services rendered by the Executive hereunder, the Company shall pay the
Executive a base salary ("Base
Salary") at an initial rate of $200,000.00 per year,
but in no event shall the Base Salary be reduced without the
Executive's approval. The Base Salary shall be payable on a
bi-weekly basis.

(b)    BONUS.    

        (i)    ANNUAL BONUS.     The
Executive shall have the opportunity to earn a discretionary bonus in
respect of each calendar year in which the Executive is employed by the
Company, subject to the terms and conditions of the bonus policy of the
Company, with a target bonus equal to 100% of Base Salary as of
the Commencement Date; provided, however, that Executive shall receive
a bonus in respect 

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of 2005 and 2006 equal to 100% of the
amount of Base Salary paid to Executive in 2005 and 2006 (the
Guaranteed 2005 & 2006 Bonus"). In order to be
eligible for any bonus, including the Guaranteed 2005 and 2006 Bonus,
Executive must be an active employee at, and not have given or received
notice of termination prior to, the time of the bonus payment. Bonus
payments, including the Guaranteed 2005 and 2006 Bonus, shall be made
to Executive within a reasonable time after the end of the fiscal year
in respect of which they are granted, but in no event later than two
months following the last day of the fiscal year for which such bonus
was granted. The Company's discretionary bonus policy takes into
account the success of the Company as a whole as well as the
contribution of each individual to that success; payment of additional
compensation or a bonus in or in respect of any given fiscal or
calendar year (including the Guaranteed 2005 and 2006 Bonus) does not
entitle Executive to additional compensation or a bonus in or in
respect of any subsequent year.

(c)    RESTRICTED
STOCK.     Restricted stock grants of $200,000.00 to
$250,000.00 or more per year, each year, guaranteed for 2006 and 2005
(prorated for 2005) to vest over a five-year period from each grant.
Terms are consistent with Global Signal's Restricted Stock
Plan.

(d)    FRINGE BENEFITS.     The
Executive shall be entitled to participate in each fringe, welfare and
pension benefit and incentive program adopted from time to time by the
Company for the benefit of, and which generally apply to, its senior
executive officers from time to time, including medical and dental
plans, disability insurance, 401(k) plans or other retirement benefits
provided to employees generally, subject to the terms of such plans, as
the same may be amended or even eliminated from time to time.

(e)    PAID TIME OFF.     Executive will be
entitled to twenty (20) days of paid time off per year (prorated for
the year in which employment begins) in accordance with the
Company's paid time off policy applicable to employees, as
amended from time to time.

(f)    REIMBURSEMENT OF
EXPENSES.     The Company shall reimburse Executive for all
reasonable expenses which are incurred by him in the course of
performing his duties and which are consistent with the Company's
policies in effect from time to time with respect to travel,
entertainment and other business expenses, subject to the
Company's requirements with respect to reporting and
documentation of such expenses.

(g)    SEVERANCE.     Upon termination by the
Company of the Executive's employment with the Company for any
reason (a) other than for cause (as defined below), or (b) upon
termination by Executive of his employment with the Company for Good
Reason (as defined below) within thirty (30) days of the occurrence of
the circumstances giving rise to such Good Reason, then the Executive
shall be entitled to receive payment of any accrued and owing Base
Salary for the applicable period and (ii) a lump sum payment equal to
one half of one year's Base Salary at its then current rate;
provided, however, that in the event the Company
terminates Executive's employment without cause prior to the
first anniversary of the Commencement Date, the Company will pay
Executive the amount described in clause (i) preceding plus the greater
of (x) the amount described in clause (ii) preceding and (y) amount of
money that Executive would have earned by such date (assuming payment
of the Guaranteed 2005 Bonus but no other bonus). Payment of any
severance is conditioned upon (A) Executive signing a separation
agreement prepared by the Company which includes a general release of
claims and (B) Executive's compliance with the restrictive
covenants set forth in the Non-Compete, No Solicitation and
Confidentiality Agreement attached hereto. For the sake of clarity, the
severance payment provided for herein shall be in lieu of any amount to
which Executive would be entitled under the Company's severance
policy, if any, in effect at the time of the termination.

"Cause" means (i) any act of
dishonesty committed by Executive in connection with the
Company's, GSL's or their subsidiaries' business;
(ii) Executive's indictment or conviction of a crime involving
moral turpitude; (iii) Executive's non-performance or
non-observance in any material respect of any requirement with respect
to Executive's employment hereunder; or (iv) any other action by
Executive involving willful and deliberate malfeasance or negligence in
the performance of Executive's duties as general counsel,
provided that the determination of cause shall be made by the Board. In
the event that the GSL Board of Directors makes a determination that
"cause" for termination exists under clause
(iii) above, Executive shall be given at least fifteen (15) days
advance written notice thereof and be provided with an opportunity to
meet with at least one member of the Board, discuss the basis for the
decision, and a 

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reasonable opportunity to cure such failure.
"Good Reason" shall mean the
occurrence, without the express prior written consent of Executive, of
any of the following circumstances, unless such circumstances are fully
corrected by the Company within thirty (30) days following written
notification by Executive (which written notice must be delivered
within thirty (30) days of the Executive's becoming aware of the
occurrence of such circumstances) that he intends to terminate his
employment for one of the reasons set forth below: (i) the relocation
of Executive's principal office at the Company to a location
outside a seventy-five (75) mile radius from such present office
location or (ii) a material reduction in Executive's duties and
responsibilities evidenced by the Company's hiring of an employee
who is given the general counsel title or is otherwise senior to
Executive in respect of the Company's legal department.

Section 6.    NO VIOLATION OF THIRD-PARTY
RIGHTS.    

(a)    The Executive hereby represents,
warrants and covenants to the Company that the Executive:

i.    is not a party to any agreements with third parties that
prevent him from fulfilling the terms of employment and the obligations
of this Agreement or which would be breached as a result of his
execution of this Agreement;

ii.    is in compliance with any
and all valid obligations which he may now have to prior employers or
to others relating to confidential information, inventions or
discoveries which are the property of those prior employers or others,
as they case may be.

If the Executive is in breach of any of the
foregoing representations, warranties and covenants or a court of
competent jurisdiction issues a final order (not including a temporary
restraining order or other order subject to interlocutory appeal)
precluding the Executive from performing his duties hereunder, the
Company shall be entitled to terminate this Agreement for Cause.

Section 7.    RELOCATION
EXPENSES.    

The Company shall provide the Executive
with a reasonable relocation allowance to be used for expenses incurred
as a result of relocating, payable within thirty (30) days after
permanent relocation from Santa Fe, New Mexico to the Sarasota, Florida
area. Costs may include any costs associated with travel, or otherwise
incurred as a result of assuming employment with the Company. In
addition, the Executive will receive up to six months of temporary
housing not to exceed $1,500 per month. In the event that the
Executive's employment is terminated, by the Company or by the
Executive, at any time prior to upon relocation for any reason other
than termination by the Company for any reason other than Cause, then
the Executive shall be obligated to repay to the Company such
relocation allowance. If you voluntarily terminate your employment for
any reason except by death or disability within a twelve month period
from date of employment, you will reimburse the Company at the rate of
one-twelfth (1/12) of the total employment incentive contemplated above
for each month that you are not employed during the twelve month
period.

Section 8.
    WITHHOLDING.    

The Company shall make
such deductions and withhold such amounts from each payment made to the
Executive hereunder as may be required from time to time by law,
governmental regulation or order.

Section
9.    NOTICES.    

All notices and other
communications under this Agreement shall be in writing and shall be
given by hand, facsimile or first-class mail, certified or registered
with return receipt requested, and shall be deemed to have been duly
given upon delivery or three (3) days after mailing or twenty-four (24)
hours after transmission of a facsimile to the respective persons named
below:

(a) If to the Company

Pinnacle Holdings
Inc.
 301 North Cattlemen Road, Suite 300
 Sarasota, FL
34232
 Facsimile: (941) 308-4176
 Attn: Human Resources

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if to the Executive:

Jeffrey
A. Klopf
 [****]
 [****]

Either
party may change such party's address for notices by notice duly
given pursuant hereto.

Section 10.     DISPUTE
RESOLUTION; ATTORNEYS' FEES.    

The parties
agree that any and all disputes arising out of the terms of this
Agreement, their interpretation, or the Executive's employment or
termination by the Company shall be subject to binding arbitration
before the American Arbitrator Association under its National Rules far
the Resolution of Employment Disputes. The Company agrees to pay all
costs associated with arbitration, except that the parties shall pay
for their own attorneys' fees and costs. The arbitrator shall
permit the parties to engage in reasonable discovery measures,
including depositions, document production, interrogatories, and any
other discovery measures that the arbitrator may order. The arbitrator
shall issue a written decision and shall have authority to award any
and all damages to which the party would otherwise be entitled to under
applicable law. Such decision shall be subject to limited review by a
court of competent jurisdiction. The parties agree that the prevailing
party in any arbitration shall be entitled to injunctive relief in any
court or competent jurisdiction to enforce the arbitration award. The
parties agree that the prevailing party in any subject to binding
arbitration before the American Arbitration Association under its
National Rules for the Resolution of Employment Disputes. The Company
agrees to pay all costs associated with arbitration, except that the
parties shall pay for their own attorneys' fees and costs. The
arbitrator shall permit the parties to engage in reasonable discovery
measures, including depositions, document production, interrogatories,
and any other discovery measures that the arbitrator may order. The
arbitrator shall issue a written decision and shall have authority to
award any and all damages to which the party would otherwise be
entitled to under applicable law. Such decision shall be subject to
limited review by a court of competent jurisdiction. The parties agree
that the prevailing party in any arbitration shall be entitled to
injunctive relief in any court or competent jurisdiction to enforce the
arbitration award. The parties agree that the prevailing party in any
arbitration shall be awarded its reasonable attorneys' fees and
costs to the extent not prohibited by law.

Section
11.    GOVERNING LAW.    

This Agreement and
the legal relations thus created between the parties hereto shall be
governed by and construed under and in accordance with the laws of the
State of Florida, without regard to its conflicts of law
principles.

Section 12.    ENTIRE
AGREEMENT.    

This Agreement is complete and
embraces the entire understanding of and between the Parties. All prior
understandings of or in connection with the subject matter contained
herein, either oral or written, having been merged herein or canceled.
The Executive acknowledges and agrees that no representations have been
made by the Company except those expressly set forth herein. Without
limiting the foregoing, Executive represents that he shall not be
entitled to any equity interest or other interest in the Company or GSL
or any of its affiliates except to the extent such an interest is
granted by the Board and evidenced in a writing signed by the Chief
Executive Office of the Company.

Section
13.    WAIVER; MODIFICATION.    

Failure to
insist upon strict compliance with any of the terms, covenants or
conditions hereof shall not be deemed a waiver of such term, covenant
or condition, nor shall any waiver or relinquishment of, or failure to
insist upon strict compliance with, any right or power hereunder at any
one or more times be deemed a waiver or relinquishment of such right or
power at any other time or times. This Agreement shall not be modified
in any respect except by a writing executed by each party hereto.

Section 14.    ASSIGNMENT;
SUCCESSORS.    

This Agreement is personal in its
nature and neither of the parties hereto shall, without the consent of
the other, assign or transfer this Agreement or any other rights or
obligations hereunder; provided that, 

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in the event of the merger, consolidation,
transfer or sale of all or substantially all of the assets of the
Company with or to any other individual or entity or any similar event,
this Agreement shall, subject to the provisions hereof, be binding upon
and inure to the benefit of such successor and such successor shall
discharge and perform all the promises, covenants, duties and
obligations of the Company hereunder.

Section
15.    SEVERABILITY.    

In the event that a
court of competent jurisdiction determines that any portion of this
Agreement is in violation of any statute or public policy, only the
portions of this Agreement that violate such statute or public policy
shall be stricken. All portions of this Agreement that do not violate
any statute or public policy shall continue in full force and effect.
Furthermore, any court order striking any portion of this Agreement
shall modify the stricken terms as little as possible to give as much
effect as possible to the intentions of the parties under this
Agreement.

Section 16.    HEADINGS;
INCONSISTENCY.    

Section headings in this Agreement
are included herein for convenience of reference only and shall not
constitute a part of this Agreement for any other purpose. In the event
of any inconsistency between the terms of this Agreement and any form,
award, plan or policy of the Company, the terms of this Agreement shall
control.

Section
17.    COUNTERPARTS.    

This Agreement may
be executed in counterparts (including counterparts delivered by
facsimile), each of which shall be deemed an original, but all of which
taken together shall constitute one and the same instrument.

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IN WITNESS WHEREOF, the Company has caused
this Agreement to be executed by it duly authorized officer and the
Executive has hereunto signed this Agreement on the date first written
above.

		COMPANY

		/s/
David J. Grain

 By: David J. Grain
 Its: President

		JEFFREY A. KLOPF

		/s/
Jeffrey A. Klopf

6<PAGE>

                                  EXHIBIT 10.37

               AMENDMENT TO CABLE DESIGN TECHNOLOGIES CORPORATION
                    2001 LONG-TERM PERFORMANCE INCENTIVE PLAN

            The Cable Design Technologies Corporation 2001 Long-Term Performance
      Incentive Plan is amended as follows:

            1. The first sentence in Paragraph 4(b) is revised to read: "There
      may be issued under the Plan (as Restricted Stock, in payment of
      Performance Grants, pursuant to the exercise of Stock Options or Stock
      Appreciation Rights, or in payment of or pursuant to the exercise of such
      other Awards as the Committee, in its discretion, may determine) an
      aggregate of not more than 3,400,000 Common Shares (after the reverse
      stock split effective on July 15, 2004), subject to adjustment as provided
      in Paragraph 14.

            2. The second sentence of Paragraph 4(b) is revised to read: "In any
      one calendar year, the Committee shall not grant to any one participant
      options or SARs to purchase a number of shares of Common Stock, and shall
      not grant to any one participant Restricted Stock or Performance Grants,
      in excess of 400,000 shares."

            3. The first sentence of Paragraph 5(a) is revised to read: "The
      option price shall not be less than the fair market value of the Common
      Shares subject to such Option at the time the Option is granted, as
      determined by the Committee, and if an incentive stock option is granted
      to an employee who owns stock representing more than ten percent of the
      voting power of all classes of stock of the Company or any parent or
      subsidiary (a "Ten Percent Employee"), such option price shall not be less
      than 110% of such fair market value at the time the Option is granted."

            4. The following sentence is added at the end of Paragraph 6(d):
      "The exercise price of a Common Share subject to a Stock Appreciation
      Right shall not be less than the fair market value of a Common Share on
      the grant date."

            5. The last sentence in Paragraph 11 is revised to read:
      "Notwithstanding any contrary provision, without approval of shareholders,
      the Committee may not reprice Options or permit holders of Awards to
      surrender outstanding Awards in exchange for the grant of new Awards under
      the Plan."

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