Document:

SEVERANCE COMPENSATION AGREEMENT

                                                           
         CHANGE IN CONTROL
AGREEMENT

This CHANGE IN CONTROL AGREEMENT (the "Agreement") is entered
into effective as of February 1, 2005, by and between RF MICRO DEVICES, INC., a
North Carolina corporation (the "Company"), and Gregory J. Thompson
(the "Executive").

WHEREAS, the Executive is currently employed by the Company; and            

WHEREAS, the Company considers the establishment and maintenance of a
sound and vital management group to be essential to protecting and enhancing
the best interests of the Company and its shareholders; and 

            WHEREAS, the Company has determined that the best interests of
the Company and its shareholders will be served by reinforcing and encouraging
the continued dedication of the Executive to his assigned duties without
distractions arising from a potential change in control of the Company; and

            WHEREAS, this Agreement is intended to remove such
distractions and to reinforce the continued attention and dedication of the
Executive to his assigned duties;

NOW,
THEREFORE, in consideration of the mutual promises and agreements contained in
this Agreement and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Executive and the Company
hereby agree as follows:

1.         Term of Agreement.  This Agreement shall
become effective on the date hereof and shall continue in effect until the
earliest of (a) February 1, 2008, if no Change in Control has occurred before
that date; provided, however, that commencing on February 1, 2008 and each year
thereafter, the term of this Agreement shall automatically be extended for an
additional one year unless, not later than January 1 of the same year, the
Company shall have given notice to the Executive that it does not wish to
extend this Agreement (such three-year period, as it may be extended as
described in Section 1(a) herein, being referred to as the "Term");
(b) the termination by either party of the Executive's employment with the
Company for any reason prior to a Change in Control; or (c) the expiration following
a Change in Control of two years and the fulfillment by the Company and the
Executive of all of their obligations hereunder.  Notice by the Company of its
intention not to extend the term of this Agreement and its expiration at the
end of the Term shall not constitute termination of employment and the
Executive shall not be entitled to the payment of benefits under Sections 4 and
5 unless he is otherwise entitled to such benefits pursuant to the terms
herein.  Furthermore, nothing in the Section 1 shall cause this Agreement to
terminate before both the Company and the Executive have fulfilled all of their
obligations hereunder. 

 2.         Change in Control.

 

(a)        No
compensation shall be payable under this Agreement unless and until (i) there
has been a Change in Control of the Company while the Executive is still an
employee of the Company and (ii) the Executive's employment by the
Company is terminated for a reason other than one or more of the
circumstances specified in Section 3(a)(i) through (v).

 

(b)        For the
purposes of this Agreement, a "Change in Control" of the Company
shall be deemed to have occurred on the first to occur of the following: 

(i)         The date
any entity or person shall have become the beneficial owner of, or shall have
obtained voting control over, fifty-one percent (51%) or more of the
outstanding Common Stock of the Company;

             (ii)        The date
the shareholders of the Company approve a definitive agreement (A) to merge or
consolidate the Company with or into another corporation or other business
entity (for these purposes, each, a "corporation"), in which the
Company is not the continuing or surviving corporation or pursuant to which any
shares of Common Stock of the Company would be converted into cash, securities
or other property of another corporation, other than a merger or consolidation
of the Company in which holders of Common Stock immediately prior to the merger
or consolidation have the same proportionate ownership of Common Stock of the
surviving corporation immediately after the merger as immediately before, or
(B) to sell or otherwise dispose of all or substantially all the assets of the
Company; or

             (iii)       The date
there shall have been a change in a majority of the Board of Directors of the
Company within a 12-month period unless the nomination for election by the
Company's  shareholders of each new director was approved by the vote of
two-thirds of the directors then still in office who were in office at the
beginning of the 12-month period.

For
purposes herein, the term "person" shall mean any individual,
corporation, partnership, group, association or other person, as such term is
defined in Section 13(d)(3) or Section 14(d)(2) of the Securities Exchange Act
of 1934, as amended (the "Exchange Act"), other than the Company, a
subsidiary of the Company or any employee benefit plan(s) sponsored or
maintained by the Company or any subsidiary thereof, and the term
"beneficial owner" shall have the meaning given the term in Rule
13d-3 under the Exchange Act. 

 

3.        
 Termination
Following Change in Control.

	
   

 (a)        Termination.  If a Change in Control of
the Company shall have occurred while the Executive is still an employee of the
Company, the Executive shall be entitled to the payments provided in Sections 4
and 5 herein upon the termination of the Executive's employment with the
Company within the twenty-four (24) month period following a Change in Control,
whether such termination is by the Executive or by the Company, unless
such termination is as a result of (i) the Executive's death; (ii) the
Executive's Disability (as defined in Section 3(b) below); (iii) the
Executive's Retirement (as defined in Section 3(c) below); (iv) the Executive's
termination of employment by the Company for Cause (as defined in Section 3(d)
below); or (v) the Executive's decision to terminate employment other than for
Good Reason (as defined in Section 3(e) below).  For the purposes of this
Agreement, the twenty-four (24) month period following a Change in
Control shall be referred to as the "Termination Period."  

 

(b)              
Death or Disability. 

 

       (i)         Disability. 
In the event that the Executive's employment terminates because of Disability,
the Company shall have no obligation or liability to the Executive pursuant to
this Agreement by reason of such termination (except as may be otherwise
provided in Section 4(d) herein) and this Agreement shall terminate upon the
Executive's termination of employment due to Disability; provided, however,
that the Executive's termination of employment due to Disability shall be
effective only at the end of thirty (30) days following the delivery of written
notice by the Company to the Executive of such termination due to Disability
and only if Executive fails to return to the full-time performance of duties by
the end of such 30-day notice period.  For the purposes of this Agreement,
"Disability" shall mean a physical or mental illness or injury that
prevents the Executive from performing the essential functions of his duties
(as they existed immediately before the illness or injury) on a full-time basis
for a period of at least six (6) consecutive months.  The Board of Directors of
the Company (the "Board") shall have sole authority to determine if a
Disability exists.

 

        (ii)        Death. 
This Agreement shall terminate immediately in the event of the death of the
Executive occurring at any time during the Term hereof, and in such event the
Company shall have no obligation or liability to the Executive or his legal
representatives by reason of such termination (except as may be otherwise
provided in Section 4(d) herein).

 

(c)               
Retirement. In the event that the Executive's employment terminates due to his
Retirement, the Company shall have no obligation or liability to the Executive
pursuant to this Agreement upon such termination (except as otherwise provided
in Section 4(d) herein), and the Agreement shall terminate upon the Executive's
termination of employment due to such Retirement.  "Retirement" as
used in this Agreement shall mean the earlier to occur of (A) the Executive's
normal retirement date under the Company's tax-qualified retirement plan or any
successor plan thereto applicable to the Executive or (B) the Executive's
retirement date under a contract, if any, between the Executive and the Company
providing for his retirement from the employment of the Company or an affiliate
(as defined in Section 11(a) herein) on a date other than such normal
retirement date.

 

(d)         Cause.

	
   

(i)         If the
Executive's employment with the Company is terminated for Cause, the Company
shall have no obligation or liability to the Executive under this Agreement
(except as may be otherwise provided in Section 4(d) herein), and this
Agreement shall terminate upon the Executive's termination of employment for
Cause.  

 

(ii)        For
purposes of this Agreement, "Cause" shall be determined solely by the
Board in the exercise of good faith and reasonable judgment, and shall mean the
occurrence of any one or more of the following: 

 

(A)       The
continued failure of the Executive to perform his duties with the Company
(other than any such failure resulting from the Executive's incapacity due to
physical or mental illness or any such failure after the Executive has received
a Notice of Termination without Cause by the Company or has delivered a Notice
of Termination for Good Reason to the Company) which has not been corrected
within thirty (30) days after a written demand for performance is delivered to
the Executive by the Board which specifically identifies the manner in which
the Board believes that the Executive has not substantially performed the
Executive's duties;

             (B)       The
Executive's engaging in conduct that damages or prejudices the Company or any
affiliate or engaging in conduct or activities damaging to the property,
business or reputation of the Company or any affiliate, including but not
limited to breaching Company policies including those related to equal
employment opportunity and unlawful harassment;

 

(C)       The
conviction of the Executive of, or a plea by the Executive of nolo contendere
to, a felony, or any misdemeanor that involves moral turpitude;

 

(D)       The
Executive's engaging in any act of fraud, theft, misappropriation, embezzlement
or dishonesty to the material detriment of the Company;

 

(E)       Any
diversion by the Executive of a material business opportunity from the Company
without written Board consent;

 

(F)       Any breach
by the Executive of a material term of the Agreement (including but not limited
to the Executive's breach of any covenant contained in Section 9 herein); or

 

(G)       The
Executive's continued substance abuse, as determined by the Board after written
notice from the Board and a reasonable opportunity to undergo appropriate
treatment for a reasonable period.  

	
   

Any act, or failure to
act, based upon authority given pursuant to a resolution duly adopted by the
Board shall be conclusively presumed to be done, or omitted to be done, by the
Executive in good faith and in the best interests of the Company. Cause shall
not exist unless and until the Company has delivered to the Executive a copy of
a resolution duly adopted by the majority of the Board (excluding the Executive
if the Executive is a Board member) at a meeting of the Board called and held
for such purpose (after reasonable notice to the Executive and an opportunity
for the Executive, together with counsel, to be heard before the Board),
finding that in the good faith opinion of the Board an event set forth in any
one or more of clauses (A) through (G) herein has occurred and specifying the
particulars thereof in detail. 

 

(e)          Good
Reason.

 The Executive may terminate his employment for Good Reason at any time
after a Change of Control during the Termination Period.  For purposes of this
Agreement, "Good Reason" shall mean any of the following:

 

(i)         A
material reduction by the Company without the Executive's written consent in
the Executive's basic duties and responsibilities;

 

(ii)        Any
material reduction by the Company without the Executive's written consent of
the Executive's base salary as in effect on the date hereof (or as the same may
be adjusted with Executive's written consent from time to time during the
Term), other than a reduction which is part of a salary reduction plan
applicable to all officers or all employees of the Company, as the case may be
(and not the Executive singly); 

 

(iii)       Any
failure by the Company to continue the Executive's ability to participate in
any plan or arrangement, including, without limitation, any life insurance,
accident, disability or health insurance plan, thrift plan, pension plan,
retirement plan, profit-sharing plan, or any other qualified or non-qualified
employee benefit plan, bonus plan, incentive plan, stock option, restricted
stock, stock purchase or other stock-based plan, and all other similar plans or
arrangements which are from time to time made generally available to officers
of the Company and in which the Executive participates, unless there are
substituted therefore plans or arrangements providing the Executive with
essentially equivalent and no less favorable benefits, or any action or
inaction by the Company which would adversely affect the Executive's
participation in or materially reduce the Executive's benefits under any such
plan or successor plan or deprive the Executive of any material fringe benefit
enjoyed by the Executive; provided, however, that (A) a reduction
in the Executive's incentive or bonus plan payments due to the failure to
attain certain performance-based objectives or (B) a reduction in the
Executive's benefits due to the Company's decision to discontinue the
availability of any plan or arrangement to all officers or all employees, as
the case may be (and not the Executive singly), shall not be deemed to
constitute "Good Reason" under this Section 3(e)(iii);

	

  

(iv)       A
relocation of the Company's principal executive offices to a location in excess
of 30 miles from Greensboro, North Carolina, or the Executive's relocation to
any place other than the location at which the Executive performed the
Executive's duties prior to a Change in Control of the Company, except for (A)
required travel by the Executive on the Company's business to an extent
substantially consistent with the Executive's business travel obligations
during the 12 months immediately preceding a Change of Control of the Company
or (B) a relocation with the Executive's express written consent;

 

(v)        Any
material reduction in the number of paid vacation days to which the Executive
is entitled at the time of a Change of Control of the Company (other than a
reduction with the Executive's written consent);

 

(vi)       Any
failure by the Company without the Executive's written consent to obtain the
express assumption of this Agreement by any successor or assignee of the
Company (and parent corporation of such successor or assignee, if applicable)
as provided in Section 11(a) herein.

 

(f)           Notice
of Termination.  Any
termination of the Executive's employment (i) by the Company due to Disability,
Retirement or for Cause or (ii) by the Executive for Good Reason shall be
communicated by a Notice of Termination.  For purposes of this Agreement, a
"Notice of Termination" shall mean a written notice which shall
indicate those specific termination provisions in this Agreement relied upon
and which sets forth in reasonable detail the facts and circumstances claimed
to provide a basis for termination of the Executive's employment under the
provisions so indicated.  For purposes of this Agreement, no such purported
termination by the Company or the Executive shall be effective without such
Notice of Termination.

 

(g)          Date
of Termination.  "Date of Termination" shall mean (i) if the Executive is
terminated by the Company for Disability, 30 days after Notice of Termination
is given to the Executive (provided that the Executive shall not have returned
to the performance of the Executive's duties on a full-time basis during such
30-day period); (ii) if the Executive is terminated by the Company for any
other reason, the date on which a Notice of Termination is given (or such later
date as is specified in such notice); or (iii) if the Executive terminates for
Good Reason, the date on which a Notice of Termination is given (or such later
date as is specified in such notice).

 

4.         Payment of
Compensation upon Termination of Employment. If, during the Termination Period, the employment of the Executive shall
terminate pursuant to a "Qualifying Termination" (as defined herein),
then the Company shall provide to the Executive the payments described in this
Section 4 and, if applicable, Section 5.  For the purposes of the Agreement, a
"Qualifying Termination" means (i) the Company's termination of the
Executive's employment other than because of death, Disability,
Retirement or Cause, as provided in Sections 3(b), 3(c) and 3(d) herein, or
(ii) the Executive's termination of his employment for Good Reason pursuant to
Section 3(e) herein.

 

(a)          Cash
Payments.  If, during the Termination Period, the
employment of the Executive shall terminate pursuant to a Qualifying
Termination, then the Company shall provide to the Executive the following cash
payments:

	

  

(i)         Within thirty (30) days following the
Date of Termination (or such earlier date, if any, as may be required under
applicable wage payment laws), a lump-sum cash amount equal to the sum of (A)
the Executive's base salary through the Date of Termination and any bonus amounts
which have been earned or become payable, to the extent not theretofore paid or
deferred, (B) a pro rata portion of the Executive's annual bonus for the fiscal
year in which the Executive's Date of Termination occurs in an amount at least
equal to (1) the Executive's Bonus Amount, multiplied by (2) a fraction, the
numerator of which is the number of days in the fiscal year in which the Date
of Termination occurs through the Date of Termination and the denominator of
which is three hundred sixty-five (365), and reduced by (3) any amounts paid
from the Company's incentive plan for the fiscal year in which the Executive's
Date of Termination occurs and (C) any accrued vacation pay, to the extent not
theretofore paid; plus

(ii)        A severance benefit equal to the sum of
(i) one (1) times the Executive's highest annual rate of base salary during the
12-month period immediately prior to Executive's Date of Termination, plus (ii)
one (1) times the Executive's Bonus Amount. The severance benefits provided for
pursuant to this Section 4(a)(ii) shall be paid in periodic installments over
the Compensation Period (as defined herein) in accordance with the normal
payroll practices of the Company.  For the purposes of Section 4(a) herein,
"Bonus Amount" shall mean the average annual incentive bonus earned
by the Executive under any incentive bonus plan or plans of the Company (or its
affiliates) during the last three (3) completed fiscal years of the Company
immediately preceding the Executive's Date of Termination (or such shorter
period that the Executive has been employed by the Company).  The one (1) -year
period following the Qualifying Termination of
an Executive and during which the benefits provided pursuant to Section
4(a)(ii) and Section 4(b) shall be provided is referred to herein as the
"Compensation Period."  

            (b)        Continued
Coverage. If, during the Termination Period, the employment of the
Executive shall terminate pursuant to a Qualifying Termination, the Company
shall continue to provide, during the Compensation Period, the Executive (and
the Executive's dependents, if applicable) with the same level of medical,
dental, vision, accident, disability and life insurance benefits upon
substantially the same terms and conditions (including contributions required
by the Executive for such benefits) as existed immediately prior to the
Executive's Date of Termination; provided, however, that if the Company is
unable to provide any of these benefits under its benefit plans in effect
during the Compensation Period, the Company shall pay to the Executive an
amount sufficient to enable the Executive to procure comparable benefits on his
own. Notwithstanding the foregoing, in the event the Executive becomes
reemployed with another employer and becomes eligible to receive welfare
benefits from such employer, the welfare benefits described herein shall be
secondary to such benefits during the period of the Executive's eligibility,
but only to the extent that the Company reimburses the Executive for any
increased cost and provides any additional benefits necessary to give the
Executive the benefits provided hereunder. The Executive's accrued benefits as
of the Date of Termination under the Company's employee benefit plans shall be
paid to the Executive in accordance with the terms of such plans.  In addition,
if, during the Termination Period, the employment of the Executive shall
terminate pursuant to a Qualifying Termination, the Company shall provide the
Executive with one (1) additional year of service credit under all non-qualified
retirement plans and excess benefit plans in which the Executive participated
as of his Date of Termination.  

	

  

            (c)        Stock Awards.  If, during the Termination
Period, the employment of the Executive shall terminate pursuant to a
Qualifying Termination,  then the following shall apply with respect to any
stock-based awards granted by the Company.

                                    (i)         Stock
Options and Stock Appreciation Rights.  All Company stock options, stock
appreciation rights or similar stock-based

                        
awards held by the Executive will be
accelerated and exercisable in full as of the Date of Termination, without
regard to the exercisability or 

                         vesting of such awards prior to the Date of
Termination.

                                    (ii)        Restricted Stock.  All restrictions on any
restricted stock, performance stock or similar stock-based awards granted by
the

                        
Company, including without limitation any vesting or performance criteria,
held by the Executive as of the Date of Termination shall be removed 

                        
and
such
awards shall be deemed vested and earned in full.

                       

                        (d)         Payments Due to Termination Other than Qualifying Termination. If,
during the Termination Period, the Executive shall terminate other than
by reason of a Qualifying Termination, then the Company shall pay to Executive
within thirty (30) days following the Date of Termination (or such earlier
date, if any, as may be required under applicable wage payment laws) a lump-sum
cash amount equal to the sum of (i) Executive's base salary through the Date of
Termination and any bonus amounts which have become payable, to the extent not
theretofore paid or deferred, and (ii) any accrued vacation pay, to the extent
not theretofore paid.  The Company may make such additional payments, and
provide such additional benefits, to Executive as the Company and Executive may
agree in writing. The Executive's accrued benefits as of the Date of
Termination under the Company's employee benefit plans shall be paid to
Executive in accordance with the terms of such plans.

5.         Certain
Additional Payments by the Company.

	

  

                       (a)        Anything
in this Agreement to the contrary notwithstanding, in the event it shall be
determined that any payment, award, benefit or distribution (or any
acceleration of any payment, award, benefit or distribution) by the Company (or
any of its affiliated entities) or any entity which effectuates a Change in
Control (or any of its affiliated entities) to or for the benefit of the
Executive (whether pursuant to the terms of this Agreement or otherwise, but
determined without regard to any additional payments required under this
Section 5) (the "Payments") would be subject to the excise tax
imposed by Section 4999 of the Internal Revenue Code of 1986, as amended (the
"Code"), or any interest or penalties are incurred by the Executive
with respect to such excise tax (such excise tax, together with any such
interest and penalties, are hereinafter collectively referred to as the
"Excise Tax"), then the Company shall pay to the Executive an
additional payment (a "Gross-Up Payment") in an amount such that
after payment by the Executive of all taxes (including any Excise Tax) imposed
upon the Gross-Up Payment, the Executive retains an amount of the Gross-Up
Payment equal to the sum of (i) the Excise Tax imposed upon the Payments and
(ii) the product of any deductions disallowed because of the inclusion of the
Gross-Up Payment in the Executive's adjusted gross income and the highest
applicable marginal rate of federal income taxation for the calendar year in
which the Gross-Up Payment is to be made. For purposes of determining the
amount of the Gross-Up Payment, the Executive shall be deemed to (i) pay
federal income taxes at the highest marginal rates of federal income taxation
for the calendar year in which the Gross-Up Payment is to be made, (ii) pay
applicable state and local income taxes at the highest marginal rate of
taxation for the calendar year in which the Gross-Up Payment is to be made, net
of the maximum reduction in federal income taxes which could be obtained from
deduction of such state and local taxes and (iii) have otherwise allowable
deductions for federal income tax purposes at least equal to the Gross-Up
Payment.  Notwithstanding the foregoing provisions of this Section 5(a), if it
shall be determined that the Executive is entitled to a Gross-Up Payment, but
that the Payments would not be subject to the Excise Tax if the Payments were
reduced by an amount that is less than 5% of the portion of the Payments that
would be treated as "parachute payments" under Section 280G of the
Code, then the amounts payable to the Executive under this Agreement shall be
reduced (but not below zero) to the maximum amount that could be paid to
Executive without giving rise to the Excise Tax (the "Safe Harbor
Cap"), and no Gross-Up Payment shall be made to the Executive.  The
reduction of the amounts payable hereunder, if applicable, shall be made by
reducing first the payments under Section 4(a)(ii), unless an alternative
method of reduction is elected by the Executive.  For purposes of reducing the
Payments to the Safe Harbor Cap, only amounts payable under this Agreement (and
no other Payments) shall be reduced. If the reduction of the amounts payable
hereunder would not result in a reduction of the Payments to the Safe Harbor
Cap, no amounts payable under this Agreement shall be reduced pursuant to this
provision.

                        

 

                        (b)        Subject to the provisions of Section
5(a), all determinations required to be made under this Section 5, including
whether and when a Gross-Up Payment is required, the amount of such Gross-Up
Payment, the reduction of the Payments to the Safe Harbor Cap and the
assumptions to be utilized in arriving at such determinations, shall be made by
the public accounting firm that is retained by the Company as of the date
immediately prior to the Change in Control (the "Accounting Firm")
which shall provide detailed supporting calculations both to the Company and
the Executive within forty-five (45) business days of the receipt of notice
from the Company or the Executive that there has been a Payment, or such earlier
time as is requested by the Company (collectively, the
"Determination"). In the event that the Accounting Firm is serving as
accountant or auditor for the individual, entity or group effecting the Change
in Control, the Company and the Executive may agree to appoint another
nationally recognized public accounting firm to make the determinations
required hereunder (which accounting firm shall then be referred to as the
Accounting Firm hereunder).  All fees and expenses of the Accounting Firm shall
be borne solely by the Company and the Company shall enter into any agreement
requested by the Accounting Firm in connection with the performance of the
services hereunder.  The Gross-Up Payment under this Section 5 with respect to
any Payments shall be made no later than thirty (30) days following such
Payment. If the Accounting Firm determines that no Excise Tax is payable by the
Executive, it shall furnish the Executive with a written opinion to such
effect, and to the effect that failure to report the Excise Tax, if any, on the
Executive's applicable federal income tax return will not result in the
imposition of a negligence or similar penalty. In the event the Accounting Firm
determines that the Payments shall be reduced to the Safe Harbor Cap, it shall
furnish the Executive with a written opinion to such effect. The Determination
by the Accounting Firm shall be binding upon the Company and the Executive. As
a result of the uncertainty in the application of Section 4999 of the Code at
the time of the Determination, it is possible that Gross-Up Payments which will
not have been made by the Company should have been made
("Underpayment") or Gross-Up Payments are made by the Company which
should not have been made ("Overpayment"), consistent with the
calculations required to be made hereunder. In the event that the Executive
thereafter is required to make payment of any Excise Tax or additional Excise
Tax, the Accounting Firm shall determine the amount of the Underpayment that
has occurred and any such Underpayment (together with interest at the rate
provided in Section 1274(b)(2)(B) of the Code) shall be promptly paid by the
Company to or for the benefit of Executive. In the event the amount of the
Gross-Up Payment exceeds the amount necessary to reimburse the Executive for
his Excise Tax, the Accounting Firm shall determine the amount of the
Overpayment that has been made and any such Overpayment (together with interest
at the rate provided in Section 1274(b)(2) of the Code) shall be promptly paid
by the Executive (to the extent he has received a refund if the applicable
Excise Tax has been paid to the Internal Revenue Service) to or for the benefit
of the Company. The Executive shall cooperate, to the extent his expenses are
reimbursed by the Company, with any reasonable requests by the Company in
connection with any contests or disputes with the Internal Revenue Service in
connection with the Excise Tax. 

            6.         Withholding.  The Company
shall withhold from any amount payable to the Executive (or to his beneficiary
or estate or any other person) hereunder all federal, state, local or other
taxes that the Company may reasonably determine are required to be withheld
pursuant to any applicable law, rule or regulation.

            7.         No Right to Continued Employment. 
Nothing in this Agreement shall be deemed to entitle Executive to continued
employment with the Company or any of its affiliates, and if Executive's
employment with the Company or an affiliate shall terminate prior to a Change
in Control, Executive shall have no further rights under this Agreement (except
as otherwise provided hereunder); provided, however, that, notwithstanding the
foregoing, any termination of Executive's employment during the Termination
Period shall be subject to the provisions of this Agreement.

 

8.         Offset;
No Obligation to Mitigate Damages.

                        (a) 
      Offset.  The Company's obligation to make any payments provided
for in this Agreement and otherwise to perform its obligations hereunder shall
be subject to, and may be reduced by the amount related to, any right of
set-off, counterclaim, recoupment, defense or other claim, right or action
which the Company may have against the Executive. 

 

                        (b)      
No Obligation to Mitigate.  In no event shall the
Executive be obligated to seek other employment or take any other action by way
of mitigation of the amounts payable to the Executive under any of the
provisions of this Agreement and such amounts shall not be reduced whether or
not the Executive obtains other employment (except as otherwise provided in
Section 4(b) with respect to the payment of welfare plan benefits). 

           9.          
Confidentiality;
Competition; Solicitation. 

  

(a)        Covenants of
Executive.  The Company and the Executive recognize that the Executive's
services are special and unique and that the provisions herein for compensation
under Section 4 and Section 5 are partly in consideration of and conditioned
upon the Executive's compliance with the covenants contained in this Section
9.  Accordingly, during the Term of the Agreement and until the end of the
Compensation Period (as defined in Section 4(a)(ii) herein), the Executive
shall be subject to the covenants contained in Sections 9(b), 9(c) and 9(d)
herein.

(b)        Confidentiality. 
During the Compensation Period, (i) the Executive covenants and agrees that he
shall hold in a fiduciary capacity for the benefit of the Company all secret or
confidential information, knowledge or data relating to the Company or any of
its affiliates and their respective businesses, which shall have been obtained
by the Executive during the Executive's employment by the Company or any of its
affiliates and which shall not be or become public knowledge (other than by
acts by the Executive or representatives of the Executive in violation of this
Agreement); and (ii) the Executive shall not, without the prior written consent
of the Company or as may otherwise be required by law or legal process,
communicate or divulge any such information, knowledge or data to anyone other
than the Company and those designated by it. 

                         (c)        Solicitation.  During the Compensation
Period, the Executive covenants and agrees that he shall not directly or
indirectly disrupt, damage or interfere with the operation or business of the
Company by soliciting or recruiting the employees of the Company or an
affiliate to work for Executive or other persons or entities.

                         (d)        Non-Competition.  During the Compensation
Period, the Executive covenants and agrees that he shall not render services
for any organization or engage directly or indirectly in any business that, in
the opinion of the Company, competes with or is in conflict with the interests
of the Company in the Noncompetition Area.  For purposes of this Section 9(d),
the "Noncompetition Area" shall mean the following geographic area:

                         (i)         The Noncompetition Area
shall mean any area within or without the United States in which the Company or
an affiliate has operations, including but not limited to any area within a
30-mile radius of any of the following: Guilford County, North Carolina;
Boston, Massachusetts; Cedar Rapids, Iowa; Scotts Valley, California; San
Diego, California; San Jose, California; Boulder, Colorado; Phoenix, Arizona;
Reading, United Kingdom; Copenhagen, Denmark; Pandrup, Denmark; Oulu,
Finland; and Taiwan, ROC.

                         (ii)        In the event the preceding
paragraph shall be determined by judicial action to define too broad a
territory to be enforceable, the Noncompetition Area shall mean any area within
a 30-mile radius of any of the following: Guilford County, North Carolina;
Boston, Massachusetts; Cedar Rapids, Iowa; Scotts Valley, California; San
Diego, California; San Jose, California; Boulder, Colorado and Phoenix,
Arizona.

                         (iii)       In the event that the
two preceding paragraphs shall be determined by judicial action to define too
broad a territory to be enforceable, the Noncompetition Area shall mean any
area within a 30-mile radius of Guilford County, North Carolina.

                         (e)        Enforceability.  If any of the
restrictions contained in this Section 9 shall be deemed to be unenforceable by
reason of the extent, duration, geographical scope or other provisions thereof,
then the parties hereto contemplate that the court shall reduce such extent,
duration, geographical scope or other provision hereof and enforce this Section
9 in its reduced form for all purposes in the manner contemplated thereby.  

                         (f)         Failure to Comply.  The Executive
acknowledges that the covenants included in Section 9 of this Agreement are
crucial to the success of the Company and that violation of the covenants would
immeasurably damage the Company and/or its affiliates.  In the event that the
Executive shall fail to comply with any provision of this Section 9, and the
failure shall continue for ten (10) days following delivery of notice by the
Company to the Executive, all rights of the Executive and any person claiming
under or through him to the payments or benefits described in this Agreement
shall thereupon terminate, and no person shall be entitled thereafter to
receive any payments or benefits hereunder.  In addition to the foregoing, in
the event of a breach by the Executive of the provisions of this Section 9, the
Company shall have and may exercise any and all other rights and remedies
available to the Company at law or otherwise, including but not limited to
obtaining an injunction from a court of competent jurisdiction enjoining and
restraining the Executive from committing a violation, and the Executive hereby
consents to the issuance of an injunction.  The provisions of this Section 9(f)
shall control in the event that the Executive fails to comply with any covenant
or term contained in Section 9 herein, notwithstanding the terms of Section 17
herein.

            10.       Nonalienability. 
No right of or amount payable to the Executive under this Agreement shall be
subject in any manner to anticipation, alienation, sale, transfer, assignment,
pledge, hypothecation, encumbrance, charge, execution, attachment, levy or
similar process or to setoff against any obligations or to assignment by
operation of law.  Any attempt, voluntary or involuntary, to effect any action
specified in the immediately preceding sentence shall be void.  However, this
Section 10 shall not prohibit the Executive from designating one or more
persons, on a form satisfactory to the Company, as beneficiary to receive
amounts payable to him under this Agreement in the event that he should die
before receiving them.

11.       Successors
and Assigns.

(a)        The
Company.  As used
in this Agreement, "Company" shall mean the Company as defined above
and any successor or assignee to its business and/or assets as aforesaid which
assumes the obligations of the Company under this Agreement or which otherwise
becomes bound by all of the terms and provisions of this Agreement by operation
of law.  If at any time during the term of this Agreement the Executive is
employed by an affiliate (as defined herein) of the Company, such indirect
employment of the Executive by the Company shall not excuse the Company from
performing its obligations under this Agreement as if the Executive were
directly employed by the Company, and the Company agrees that it shall pay or
shall cause such employer to pay any amounts owed to the Executive pursuant to
Section 4 and Section 5 hereof, notwithstanding any such indirect
employment relationship.  For the purposes of this Agreement, an
"affiliate" of the Company shall mean a corporation or other entity a
majority of the voting securities of which is beneficially owned by the
Company, or any other corporation or other entity controlling, controlled by,
or under common control with the Company.

                        (b)
       The Executive.  This Agreement shall inure to the benefit of and be enforceable by the
Executive's personal and legal representatives,

            executors, administrators,
successors, heirs, distributees, devisees and legatees.  If the Executive
should die while any amounts are still payable to him

            hereunder, all such
amounts, unless otherwise provided herein, shall be paid in accordance with the
terms of this Agreement to the Executive's

            beneficiary (in accordance with
Section 10 herein) or, if there be no such beneficiary, to the Executive's
estate.

 

            12.       Waiver; Governing Law.  No waiver
by either party hereto at any time of any breach by the other party hereto of,
or compliance with, any condition or provision of this Agreement to be
performed by such other party shall be deemed a waiver of similar or dissimilar
provisions or conditions at the same or at any prior or subsequent time. This
Agreement shall be governed by and construed in accordance with the laws of the
State of North Carolina, without regard to the conflict of laws provisions of
any state.

            13.       Entire
Agreement; Amendment.   This Agreement contains all of
the terms agreed upon between the Executive and the Company with 

respect to
the
subject matter hereof and replaces and supersedes all prior understandings and
agreements between the Executive and the Company with 

respect to the matters
contemplated in the Agreement (except for any understandings or agreements
reflected in a separate non-competition, confidentiality,

invention or other
similar
agreement or agreements between the Company and the Executive).  The
Executive and the Company agree that no term, provision 

or condition of this
Agreement
shall be held to be altered, amended, changed or waived in any respect
except as evidenced by written agreement of the 

Executive
and the Company. 

            14.       Reasonable and Necessary Restrictions. 
The Executive acknowledges that the restrictions, prohibitions and other
provisions set forth in this Agreement, including without limitation the
provisions of Section 9 herein, are reasonable, fair and equitable in scope,
terms and duration, are necessary to protect the legitimate business interests
of the Company, and are a material inducement to the Company to enter into this
Agreement.  The Executive covenants that he or she will not challenge the
enforceability of this Agreement nor will he or she raise any equitable defense
to its enforcement.

            15.       No Trust Fund; Unfunded Obligation.
The obligation of the Company to make payments hereunder
shall constitute an unsecured liability of the Company to the Executive. The
Company shall not be required to establish or maintain any special or separate
fund, or otherwise to segregate assets to assure that such payments shall be
made, and the Executive shall not have any interest in any particular assets of
the Company by reason of its obligations hereunder.  Nothing contained in this
Agreement shall create or be construed as creating a trust of any kind or any
other fiduciary relationship between or among the Company, the Executive, or
any other person. To the extent that any person acquires a right to receive
payment from the Company, such right shall be no greater than the right of an
unsecured creditor of the Company.

            16.       Notices.   For
purposes of this Agreement, notices and all other communications provided for
in the Agreement shall be in writing and shall be deemed to have been duly
given when delivered, one business day after being sent for overnight delivery
by a nationally recognized overnight courier or three business days after being
mailed by United States registered mail, return-receipt requested,
postage-prepaid, addressed as follows:

                        If to the Company:

                       RF Micro Devices, Inc.

           7628 Thorndike Road

           Greensboro,   North Carolina  27409-9421

           Attention: 
Chief Financial Officer

                       If to the Executive:

 

                      Gregory J. Thompson

          7628 Thorndike Road

          Greensboro,   North Carolina  27409-9421

or such
other address as either party have furnished to the other in writing in
accordance herewith, except that notices of change of address shall be
effective only upon receipt.

            17. 
     Arbitration, Legal Fees and Expenses.  In the
event of any controversy, claim or dispute between the parties hereto arising
out of or relating to this Agreement (except for any dispute or controversy
arising under or in connection with Section 9), the matter shall be determined
by arbitration, which shall take place in Guilford County, North Carolina,
under the rules of the American Arbitration Association; and a judgment upon
such award may be entered in any court having jurisdiction thereof.  Any
decision or award of such arbitrator shall be final and binding upon the
parties.  The parties hereby consent to the jurisdiction of such arbitrator and
of any court having jurisdiction to enter judgment upon and enforce any action
taken by such arbitrator.  The Company shall pay all reasonable legal fees and
expenses that the Executive may incur as a result of the Company's contesting
the validity, enforceability or the Executive's interpretation of, or
determinations under, this Agreement.

 

18.       Severability.  If any provision of this
Agreement shall be held invalid or unenforceable in whole or in part, such
invalidity or unenforceability shall not affect any other provision of this
Agreement or part thereof, each of which shall remain in full force and effect.

 

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

            20.       Captions; Gender. 
The headings and captions contained in the Agreement are intended for
convenience of reference only and have no substantive significance.  References
to the masculine gender shall include references to the feminine gender, and
vice versa.

 

	
  [Signature Page to Follow] 

  

IN WITNESS WHEREOF, the parties have executed this
Agreement effective as of the date and year first above written.

                                                                                                         RF
MICRO DEVICES, INC.

                                                

                                                                                                        
By: /s/ Robert A. Bruggeworth                                

                                       Printed
Name: Robert A. Bruggeworth

                                       Title: 
Chief Executive Officer                            

ATTEST:

/s/ Dean Priddy                   

Secretary

 

[Corporate Seal]

                                                                                                          EXECUTIVE

                                                                                                         
 /s/Gregory J. Thompson                    

                                                                                                         
Printed Name: Gregory J. ThompsonEXHIBIT 10.1
                                                                    ------------

               AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT
               --------------------------------------------------

         This Amended and Restated Registration Rights Agreement is entered into
as of January 31, 2005 by and among Schawk, Inc., a Delaware corporation
("Schawk") and each of the Investors listed on the signature page hereof (the
"Investors").

         WHEREAS, Schawk (previously known as Filtertek, Inc.) and the Investors
previously entered into a Registration Rights Agreement dated December 30, 1994
(the "1994 Registration Rights Agreement"); and

         WHEREAS, Schawk and Investors wish to amend and restate said
Registration Rights Agreement pursuant to the terms hereof;

         NOW THEREFORE in consideration of the following mutual covenants and
conditions, the parties hereto agree as follows:

         1. Definitions

         As used in this Agreement, the following terms shall have the following
meanings:

         Advice: See Section 5 hereof.

         Company: Schawk, Inc., a Delaware corporation.

         Demand Registrations: See Section 3(a) hereof.

         Exchange Act: the Securities Exchange Act of 1934, as amended.

         Final Demand Registration: See Section 3(a) hereof.

         Initial Demand Registration: See Section 3(a) hereof.

         KAGT Registrable Securities: The shares of Company common stock
entitled to registration rights pursuant to, and as defined in, the KAGT
Registration Rights Agreement.

         KAGT Registered Registrable Securities: See Section 3(d) hereof.

         KAGT Registration Rights Agreement: The Registration Rights Agreement,
to be entered into by and among the Company, the principal Company stockholders
party thereto, KAGT Holdings, Inc. ("KAGT") and the holders of outstanding stock
of KAGT party to that certain Stock Purchase Agreement, dated as of December 17,
2004, with the Company, Seven Worldwide, Inc. and KAGT.

         Losses: See Section 7(a) hereof.

         Notice: See Section 3(b) hereof.

         Other Holders: See Section 4(d) hereof.

<PAGE>

         Person: Any individual, partnership (general or limited), corporation,
limited liability company, joint stock company, trust, business trust or
unincorporated organization.

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

         Public Offering: Any offer by the Company to sell its securities to the
public pursuant to a registration statement filed with the SEC under the terms
of the Securities Act.

         Registered Registrable Securities: Registrable Securities covered by a
Registration Statement.

         Registrable Securities: All shares of the Class A common stock, $0.008
par value of the Company owned by any of the Investors, any grandchildren,
children or spouse of any Investor who is a natural person, or any trust
established for the benefit of any of the foregoing, or any other Person who is
controlled by an Investor. For purposes of this definition, control of a Person
means the possession, directly or indirectly, of the power to direct or cause
the direction of its management policies, whether through the ownership of
voting securities, by contract or otherwise.

         Registration Expenses: See Section 6 hereof.

         Registration Statement: Any registration statement of the Company which
covers any of the Registrable Securities pursuant to the provisions of this
Agreement, including the Prospectus and amendments to such registration
statement, including post-effective amendments, all exhibits, and all material
incorporated or deemed to be incorporated by reference in such registration
statement.

         Restricted Securities: The Registrable Securities, upon original
issuance thereof and at all times subsequent thereto, until in the case of any
such security, (i) it has been effectively registered under the Securities Act
and disposed of in accordance with the Registration Statement covering it or
(ii) it is distributed to the public pursuant to Rule 144 (or any similar
provisions then in force) under the Securities Act.

         SEC: The Securities and Exchange Commission.

         Second Demand Registration: See Section 3(a) hereof.

         Securities Act: The Securities Act of 1933, as amended.

         Special Counsel: Special counsel to the Investors selected by Investors
holding more than fifty-one percent (51%) of the outstanding Registrable
Securities.

         Suspension Period: See Section 3(a) hereof.

                                       2
<PAGE>

         Underwritten Registration or Underwritten Offering: A registration in
which securities of the Company are sold to an underwriter for offering to the
public.

         2. Securities Subject to this Agreement. The securities entitled to the
benefits of this Agreement are the Registrable Securities.

         3. Demand Registrations

         (a) Demand Registrations. From and after January 1, 2005, the holders
of Registrable Securities shall have the right, by written notice delivered to
the Company by or on behalf of the holders of at least fifty-one percent (51%)
of the outstanding Registrable Securities, to require the Company to register
(the "Initial Demand Registration") under the Securities Act up to one hundred
percent (100%) of the Registrable Securities. The Initial Demand Registration is
exercisable once.

         Subsequent to the Initial Demand Registration, the holders of
Registrable Securities then outstanding shall have the right, by written notice
delivered to the Company by or on behalf of the holders of at least fifty-one
percent (51%) of the remaining Registrable Securities, to require the Company to
register (the "Second Demand Registration") under the Securities Act up to one
hundred percent (100%) of such remaining Registrable Securities as were not sold
pursuant to the Initial Demand Registration; provided, however, that if fewer
than ten percent (10%) of Registrable Securities outstanding immediately prior
to the effectiveness of the Initial Demand Registration (as adjusted for stock
dividends, stock splits and similar transactions) are outstanding at the time,
the holders of such Registrable Securities shall not be entitled to the Second
Demand Registration. The Second Demand Registration is exercisable once and not
prior to six months after the effective date of the Registration Statement filed
pursuant to the Initial Demand Registration.

         Subsequent to the Second Demand Registration the holders of Registrable
Securities then outstanding shall have the right, by written notice delivered to
the Company by and on behalf of the holders of at least fifty-one percent (51%)
of the remaining Registrable Securities, to require the Company to register (the
"Final Demand Registration" and, together with the Initial Demand Registration
and the Second Demand Registration called, the "Demand Registration") under the
Securities Act up to one hundred percent (100%) of such Registrable Securities;
provided, however, that if fewer than ten percent (10%) of Registrable
Securities outstanding immediately prior to the effectiveness of the Initial
Demand Registration (as adjusted for stock dividends, stock splits and similar
transactions) are outstanding at the time, the holders of such Registrable
Securities shall not be entitled to the Final Demand Registration. The Final
Demand Registration is exercisable once and not prior to six months after the
effective date of the Registration Statement filed pursuant to the Second Demand
Registration.

         The Company shall file each Demand Registration and use its reasonable
best efforts to cause the same to be declared effective by the SEC within 120
days of the date on which the holders of Registrable Securities first give the
written notice for such Demand Registration; provided, however, that if such
written notice is given within 270 days of a Public Offering of the Company and
the managing underwriter of the Public Offering advises the Company that
effecting the Demand Registration at the time requested would have a material

                                       3
<PAGE>

adverse effect on the market for the Company's securities, then the Company may
defer its obligation to file the Demand Registration for such period of time,
not extending beyond the 270th day after the Public Offering, as is recommended
by such managing underwriter.

         If any Demand Registration is requested to be a "shelf" registration,
the Company shall use its reasonable best efforts to keep the Registration
Statement filed in respect thereof effective for a period of twelve months from
the date on which the SEC declares such Registration Statement effective
(subject to extension pursuant to Section 4(a)) or such shorter period which
will terminate when all Registered Registrable Securities covered by such
Registration Statement have been sold pursuant to such Registration Statement.

         Notwithstanding anything herein to the contrary, the Company may, one
time in any 12 month period for up to a maximum of 90 days, delay the filing of
any Demand Registration, suspend the effectiveness of any Registration Statement
and/or give a notice for purposes of the last paragraph of Section 6, as
appropriate, if the Company shall have determined, upon advice of counsel, that
it would be required to disclose any significant corporate development which
disclosure would have a material effect on the Company, by giving notice in
accordance with Section 5(c)(7) (a "Suspension Period"); provided, that, the
period of time which the Demand Registration is required to be effective shall
be increased by the number of days of the Suspension Period if the effectiveness
of such Demand Registration was suspended, but not beyond eighteen (18) months;
and provided, further, that after the termination of the Suspension Period the
Company shall comply with the obligations set forth in Section 5(1).

         (b) Requests for Demand Registrations. Subject to the conditions set
forth in Section 3(a) hereof, any holder or holders of fifty-one percent (51%)
or more of the outstanding Registrable Securities may, at any time, make a
written request for a Demand Registration. Within ten days after receipt of such
request, the Company shall serve written notice (the "Notice") of such
registration request to all other holders of Registrable Securities and shall
include in such Demand Registration all Registrable Securities, with respect to
which the Company received written requests for inclusion therein within 15 days
after the receipt of the Notice by the applicable holder. All requests made
pursuant to this Section 3 will specify the number of the Registrable Securities
to be registered and will also specify the intended methods of disposition
thereof; provided, that if the holders of a majority of the Registrable
Securities requested to be included in such registration specify one particular
type of underwritten offering, such method of disposition shall be such type of
underwritten offering or a series of such underwritten offerings (as such
majority of holders may elect) during the time period the Registration Statement
is effective.

         (c) No Rights of the Company or Security Holders to Piggyback on Demand
Registrations. Except as specifically provided in Section 3(g) of the KAGT
Registration Rights Agreement, and unless otherwise consented to by holders of
fifty-one percent (51%) or more of the Registrable Securities, neither the
Company nor any of its security holders (other than the holders of Registrable
Securities in such capacity) shall have the right to include any securities of
the Company in any Demand Registration. Except for the KAGT Registration Rights
Agreement, to the extent it is entered into after the date of this Agreement,

                                       4
<PAGE>

the Company shall not enter into any agreements after the date of this Agreement
providing any such right to any of its security holders.

         (d) Priority on Demand Registrations. If any of the (i) Registered
Registrable Securities registered pursuant to any Demand Registration and (ii)
KAGT Registrable Securities that have been included in any such registration
pursuant to Section 3(g) of the KAGT Registration Rights Agreement (the "KAGT
Registered Registrable Securities") are to be sold in one or more firm
commitment underwritten offerings, and the managing underwriter advises the
Company and the holders of such Registered Registrable Securities that in its
opinion the number of Registered Registrable Securities and the number of KAGT
Registered Registrable Securities, if any, proposed to be sold in such offering
exceeds the number of shares of common stock that can be sold in such offering,
there shall be included in such firm commitment underwritten offering the number
of Registered Registrable Securities and KAGT Registered Registrable Securities
that in the opinion of such managing underwriter can be sold, and such
securities shall be allocated among all holders of Registered Registrable
Securities and KAGT Registered Registrable Securities pro rata.

         (e) Demand Registration Expenses. The Registration Expenses of the
holders of Registered Registrable Securities included in any Demand Registration
will be paid by the Company.

         4. Holdback Agreements

         (a) Restrictions on Public Sale by Holders of Registered Registrable
Securities. Each holder of Registrable Securities agrees, if requested by the
managing underwriter or underwriters in an underwritten offering (to the extent
timely notified in writing by the Company or the managing underwriter or
underwriters), not to effect any public sale or distribution of securities of
the Company of any class included in such Registration Statement, including a
sale pursuant to Rule 144 under the Securities Act (except as part of such
underwritten registration), (i) during the 10-day period prior to the effective
date of any underwritten offering made pursuant to such Registration Statement
and (ii) during the 180-day period beginning on the effective date of any
underwritten offering made pursuant to such Registration Statement. If a request
is made pursuant to this Section 5(a), the time period during which such Demand
Registration (if a "shelf registration") is required to remain continuously
effective pursuant to Section 3(b) shall be extended by 180 days, but not beyond
eighteen (18) months.

         (b) Restrictions on Public Sale by the Company and Others. The Company
agrees if requested by the managing underwriter or underwriters in an
underwritten offering of Registered Registrable Securities covered by a
Registration Statement filed pursuant to Section 3 hereof (to the extent timely
notified in writing by the holders of a majority in number of Registered
Registrable Securities included in such underwritten offering or by the managing
underwriters), not to effect any public or private sale or distribution of its
securities, including a sale pursuant to Regulation D under the Securities Act
but excluding the grant of employee stock options or the issuance of securities
upon the issuance or conversion of the then outstanding stock options, warrants
or other convertible securities, (A) during the 10-day period prior to the
effective date of any underwritten offering made pursuant to such Registration

                                       5
<PAGE>

Statement and (B) during the 180-day period beginning on the effective date of
any underwritten offering made pursuant to such Registration Statement.

         5. Registration Procedures

         In connection with the Demand Registration obligations of the Company
pursuant to and in accordance with Section 3 of this Agreement and subject to
receipt from the sellers of Registrable Securities of the information to be
furnished by them, as provided below, the Company shall use its reasonable best
efforts to effect such registrations to permit the sale of such Registrable
Securities in accordance with the intended method or methods of disposition
thereof, and pursuant thereto the Company shall:

         (a) prepare and file with the SEC, as soon as practicable within the
time periods specified in Section 3, a Registration Statement or Registration
Statements relating to the Demand Registrations on any appropriate Form under
the Securities Act which shall be available for the sale of the Registrable
Securities by the holders thereof in accordance with the intended method or
methods of distribution thereof, and use its reasonable best efforts to cause
each such Registration Statement to become effective and remain effective as
provided herein; provided, however, that before filing a Registration Statement
or Prospectus or any amendments or supplements thereto, including documents
incorporated or deemed to be incorporated by reference, the Company shall
furnish to the holders of the Registrable Securities covered by such
Registration Statement, their Special Counsel and the managing underwriter or
underwriters, if any, copies of all such documents proposed to be filed, which
documents will be subject to the review of such holders, their Special Counsel
and such underwriters, if any, and the Company shall not, subject to the
requirements of applicable law and Section 3, file any such Registration
Statement, or amendment thereto or any Prospectus or any supplement thereto
(including such documents incorporated by reference) to which the holders of a
majority in number of the Registrable Securities covered by such Registration
Statement, or the managing underwriter or underwriters, if any, shall reasonably
object on a timely basis;

         (b) prepare and file with the SEC such amendments and post-effective
amendments to each Registration Statement required to be filed pursuant to
Section 3 of this Agreement as may be necessary to keep such Registration
Statement effective for the time period specified in Section 3; cause the
related Prospectus to be supplemented by any required Prospectus supplement, and
as so supplemented to be filed pursuant to Rule 424 (or any similar provisions
then in force) under the Securities Act, if required; and comply with the
provisions of the Securities Act with respect to the disposition of all
securities covered by such Registration Statement during such period in
accordance with the intended methods of disposition by the sellers thereof set
forth in such Registration Statement or such Prospectus;

         (c) use its best efforts to notify the selling holders of Registrable
Securities, their Special Counsel and the managing underwriters, if any,
promptly, and (if requested by any such Person) confirm such notice in writing,
(1) when a Prospectus or any Prospectus supplement or post-effective amendment
related to such Registrable Securities has been filed, and, with respect to a
Registration Statement or any post-effective amendment related to such
Registrable Securities, when the same has become effective, (2) of any request
by the SEC for amendments or supplements to such a Registration Statement or
related Prospectus or

                                       6
<PAGE>

for additional information, (3) of the issuance by the SEC of any stop order
suspending the effectiveness of such a Registration Statement or the initiation
of any proceedings for that purpose, (4) if at any time the representations and
warranties of the Company contained in any agreement (including any underwriting
agreement) entered into pursuant to Section 6(o) below cease to be true and
correct, (5) of the receipt by the Company of any notification with respect to
the suspension of the qualification of any of the Registrable Securities for
sale in any jurisdiction or the initiation or threatening of any proceeding for
such purpose, (6) of the happening of any event which makes any statement made
in such a Registration Statement or related Prospectus or any document
incorporated or deemed to be incorporated therein by reference untrue or which
requires the making of any changes in such Registration Statement or Prospectus
so that such Prospectus will not contain any untrue statement of a material fact
or omit to state any material fact necessary to make the statements therein, in
light of the circumstances under which they were made, not misleading and (7)
prior to the initiation of a Suspension Period;

         (d) make every reasonable effort to obtain the withdrawal of any order
suspending the effectiveness of such a Registration Statement, or the lifting of
any suspension of the qualification (or exemption from qualification) of any of
the Registrable Securities for sale in any jurisdiction, at the earliest
possible moment;

         (e) if requested by the managing underwriter or underwriters or any
holder of Registrable Securities being sold in connection with an underwritten
offering, (i) promptly incorporate in a Prospectus supplement or post-effective
amendment to a Registration Statement related to such Registrable Securities
such information as the managing underwriters and such holder agree should be
included therein as required by applicable law, (ii) make all required filings
of such Prospectus supplement or such post-effective amendment as soon as
practicable after notification of the matters to be incorporated in such
Prospectus supplement or such post-effective amendment and (iii) supplement or
make amendments to such Registration Statement; provided, however, that the
Company shall not be required to take any of the actions in this Section 6(e)
which are not, in the opinion of counsel for the Company, required by or in
compliance with applicable law.

         (f) upon request of a selling holder of Registrable Securities or its
Special Counsel, furnish to each selling holder of Registrable Securities or its
Special Counsel, without charge, a copy of each Registration Statement related
to such Registrable Securities and any post-effective amendment thereto,
including financial statements, schedules and all exhibits (including, if
requested, those previously furnished or proposed to be incorporated by
reference) at the earliest practicable time under the circumstances before the
filing of such documents with the SEC;

         (g) furnish to each selling holder of Registrable Securities, its
Special Counsel and each managing underwriter, if any, without charge, at least
one signed copy of the Registration Statement or Statements related to such
Registrable Securities and any post-effective amendments thereto, including
financial statements, schedules and all exhibits (including, if requested, those
previously furnished or incorporated by reference);

         (h) deliver to all selling holders of Registrable Securities, their
Special Counsel and the underwriters, if any, without charge, as many copies of
the Prospectus or

                                       7
<PAGE>

Prospectuses related to such Registrable Securities (including each preliminary
prospectus) and as many copies of any amendment or supplement thereto as such
Persons may reasonably request; subject to the restrictions contained in the
last paragraph of Section 5, the Company consents to the use of such Prospectus
or any amendment or supplement thereto by each of the selling holders of
Registrable Securities and the underwriters, if any, in connection with the
offering and sale of the Registrable Securities covered by such Prospectus or
any amendment or supplement thereto;

         (i) prior to any public offering of Registrable Securities, use its
best efforts to register or qualify or cooperate with the selling holders of
Registrable Securities, the underwriters, if any, and their respective counsel
in connection with the registration or qualification of such Registrable
Securities for offer and sale under the securities or Blue Sky laws of such
jurisdictions as any seller or underwriter reasonably requests in writing; use
its best efforts to keep each such registration or qualification effective
during the period such Registration Statement is required to be kept effective
and do any and all other acts or things reasonably necessary or advisable to
enable the disposition in such jurisdictions of the Registrable Securities
covered by the applicable Registration Statement; provided, however, that the
Company will not be required to (A) qualify generally to do business in any
jurisdiction where it is not then so qualified, (B) take any action which would
subject it to general service of process in any such jurisdiction where it is
not then so subject, or (C) take any action which would subject it to the
assessment of taxes in any such jurisdiction where it is not then so subject;

         (j) cooperate with the selling holders of Registrable Securities and
the managing underwriter or underwriters, if any, to facilitate the timely
preparation and delivery of certificates representing Registrable Securities to
be sold and not bearing any restrictive legends;

         (k) use its reasonable best efforts to cause the Registrable Securities
covered by each Registration Statement to be registered with or approved by such
other governmental agencies or authorities as may be reasonably necessary to
enable the seller or sellers thereof or the underwriters, if any, to consummate
the disposition of such Registrable Securities;

         (l) as expeditiously as possible after the occurrence of any event
contemplated by paragraph 5(c)(6) above, but subject to Section 3(a), prepare a
post-effective amendment to each Registration Statement or a supplement to the
related Prospectus or any document incorporated therein by reference or file any
other required document so that, as thereafter delivered to the purchasers of
the Registrable Securities being sold thereunder, such Prospectus will not
contain any untrue statement of a material fact or omit to state a material fact
necessary to make the statements therein, in light of the circumstances in which
they were made, not misleading;

         (m) use its reasonable best efforts to cause all Registrable Securities
covered by such a Registration Statement to be listed on each securities
exchange, if any, on which similar securities issued by the Company are then
listed if requested by the holders of a majority in aggregate number of shares
of such issue or class of Registrable Securities;

                                       8
<PAGE>

         (n) enter into such agreements (including an underwriting agreement)
consistent with this Section 5 and use its reasonable best efforts to take all
such other actions in connection therewith as shall have been reasonably
requested by the managing underwriter or underwriter, if any, or the holders of
a majority in principal amount of the Registrable Securities being sold in order
to expedite or facilitate the disposition of such Registrable Securities
including, whether or not an underwriting agreement is entered into and whether
or not the registration is an underwritten registration, (1) making such
representations and warranties to the holders of such Registrable Securities and
the underwriters, if any, in form, substance and scope as are customarily made
by issuers to underwriters in underwritten offerings and confirming the same if
and when reasonably requested; (2) using its reasonable best efforts to obtain
for the benefit of the holders of such Registrable Securities opinions of
counsel to the Company and updates thereof (which counsel and opinions (in form,
scope and substance) shall be reasonably satisfactory to the managing
underwriters, if any, and the holders of a majority in principal amount of the
reasonably Registrable Securities being sold) addressed to each selling holder
and the underwriters, if any, covering the matters customarily covered in
opinions requested in underwritten offerings and such other matters as may be
reasonably requested by such holders and underwriters; (3) using its reasonable
best efforts to obtain "cold comfort" letters and updates thereof from the
independent certified public accountants of the Company addressed to each
selling holder of Registrable Securities and the underwriters, if any, such
letters to be in customary form and covering matters of the type customarily
covered in "cold comfort" letters in connection with underwritten offerings; (4)
if an underwriting agreement is entered into, the same shall contain
indemnification provisions and procedures no less favorable than those set forth
in Section 8 hereof with respect to all parties to be indemnified pursuant to
said Section; and (5) delivering such documents and certificates to certify that
the representations and warranties of the Company made pursuant to clause (1)
above continue to be true and correct and to evidence compliance with any
customary conditions contained in the underwriting agreement or other agreement
entered into by the Company. The above shall be done at each closing under such
underwriting or similar agreement or, as and to the extent required thereunder;

         (o) make available for inspection by a representative of the holders of
Registrable Securities being sold, any underwriter participating in any
disposition of Registrable Securities and any attorney or accountant retained by
such selling holders or underwriter, all financial and other records, pertinent
corporate documents and properties of the Company as shall be reasonably
necessary to enable them to exercise their due diligence responsibility and
cause the officers, directors and employees of the Company to supply all
information reasonably requested by any such representative, underwriter,
attorney or accountant in connection with such Registration Statement; provided,
however, that any records, information or documents that are designated by the
Company as confidential at the time of delivery of such records, information or
documents shall be kept confidential by such Persons and their designees unless
such records, information or documents are in the public domain or disclosure of
such records, information or documents is required by court or administrative
order or unless such records, information or documents otherwise become public
knowledge or in the opinion of counsel to such Person disclosure by such person
is otherwise required by law; and

         (p) otherwise use its reasonable best efforts to comply with all
applicable rules and regulations of the SEC.

                                       9
<PAGE>

         The Company may require each seller of Registrable Securities as to
which any registration is being effected to furnish to the Company such
information regarding such seller and the distribution of such Registrable
Securities as the Company may from time to time reasonably request in writing,
and the Company may exclude from such registration the Registrable Securities of
any seller who fails to furnish such information, provided, that such sellers'
Registrable Securities shall be counted for the demand made upon the Company
hereunder.

         Each holder of Registrable Securities agrees to comply with the
provisions of the Securities Act with respect to the disposition of all of his
Registrable Securities covered by any Registration Statement in accordance with
the intended methods of distribution by such seller set forth in such
Registration Statement, as amended, or the related Prospectus, as supplemented.
Each holder of Registrable Securities agrees by acquisition of such Registrable
Securities that, upon receipt of any notice from the Company of the happening of
any event of the kind described in Section 5(c)(3), 5(c)(5), 5(c)(6) and 5(c)(7)
hereof, such holder shall forthwith discontinue disposition of such Registrable
Securities covered by such Registration Statement or Prospectus until such
holder's receipt of the copies of the supplemented or amended Prospectus
contemplated by Section 5(1) hereof, or until it is advised in writing (the
"Advice") by the Company that the use of the applicable Prospectus may be
resumed, and has received copies of any additional or supplemental filings which
are incorporated by reference in such Prospectus. In the event the Company shall
give any such notice, the six months time period mentioned in Section 3(a)
hereof shall be extended by the number of days (not to exceed 365 days) during
the time period from and including the date of the giving of such notice to and
including the date when each seller of Registrable Securities covered by such
Registration Statement shall have received the copies of the supplemented or
amended Prospectus contemplated by Section 5(l) hereof or the Advice.

         6. Registration Expenses

         All fees and expenses incident to the Company's performance of or
compliance with this Agreement (including, without limitation, (1) all
registration and filing fees including, without limitation, fees and expenses
(A) with respect to filings required to be made with the National Association of
Securities Dealers, Inc., and (B) of compliance with securities or Blue Sky laws
(including, without limitation, reasonable fees and disbursements of counsel for
the underwriters or selling holders in connection with Blue Sky qualifications
of the Registrable Securities under the laws of such jurisdictions as the
managing underwriters or holders of a majority in number of the Registrable
Securities being sold may designate), (2) printing expenses, (3) messenger,
telephone and delivery expenses, (4) fees and disbursements of counsel for the
Company, and Special Counsel, (5) fees and disbursements of all independent
certified public accountants of the Company (including the expenses of any
special audit and "cold comfort" letters required by or incident to such
performance), (6) Securities Act liability insurance if the Company in its sole
discretion so desires such insurance and (7) fees and expenses of all other
Persons retained by the Company (all such expenses being herein called
"Registration Expenses") shall be borne by the Company in accordance with
Section 3(e) whether or not any Registration Statement becomes effective. The
Company shall, in addition, pay its general expenses (including, without
limitation, all salaries and expenses of its officers and employees performing
legal or accounting duties), the expense of any annual audit, the fees

                                       10
<PAGE>

and expenses incurred in connection with the listing of the securities to be
registered on each securities exchange on which similar securities issued by the
Company are then listed or to be listed in connection with such registration and
rating agency fees and the fees and expenses of any Person, including special
experts, retained by the Company.

         7. Indemnification

         (a) Indemnification by Company. The Company shall, without limitation
as to time, indemnify and hold harmless, to the full extent permitted by law,
each holder of Registered Registrable Securities and each Person who controls
such holder or such officers, directors, agents or employees (within the meaning
of the Securities Act or the Exchange Act) against all losses, claims, damages,
liabilities, costs (including the costs of preparation and attorney's fees) and
expenses (collectively, "Losses") caused by any untrue or alleged untrue
statement of a material fact contained in any Registration Statement, Prospectus
or preliminary prospectus or any omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made (in the case
of any Prospectus), not misleading, except (i) insofar as the same are caused by
or contained in any information furnished in writing to the Company by such
holder expressly for use therein and (ii) the Company shall not be liable to any
holder of Registered Registrable Securities (or its controlling persons) with
respect to any untrue statement or omission or alleged untrue statement or
omission in any preliminary prospectus or any Prospectus which was corrected in
a Prospectus or prospectus supplement delivered by the Company to such holder
prior to the sale of the Registered Registrable Securities in question if the
person asserting such Loss, purchased securities from such holder but was not
timely sent or given a copy of such corrected Prospectus or prospectus
supplement at or prior to written conformation of the sale of such securities to
such person. If requested, the Company shall also indemnify underwriters,
selling brokers, dealer managers and similar securities industry professionals
participating in the distribution and each Person who controls such Persons
(within the meaning of the Securities Act or the Exchange Act) to the same
extent as provided above with respect to the indemnification of the holders of
Registered Registrable Securities and their controlling persons.

         (b) Indemnification by Holders of Registered Registrable Securities. In
connection with any Registration Statement in which a holder of Registered
Registrable Securities is participating, such holder of Registered Registrable
Securities shall furnish to the Company in writing such information and
affidavits as the Company reasonably requests for use in connection with any
Registration Statement or Prospectus and agrees to indemnify and hold harmless,
to the full extent permitted by law, the Company, its directors, each of its
officers who signed such Registration Statement, and each Person who controls
the Company (within the meaning of the Securities Act or the Exchange Act)
against any Losses, caused by any untrue statement of a material fact or any
omission of a material fact required to be stated in any Registration Statement
or Prospectus or preliminary Prospectus or necessary to make the statements
therein, in light of the circumstances under which they were made (in the case
of any Prospectus), not misleading, to the extent, but only to the extent, that
such untrue statement or omission is contained in any information or affidavit
so furnished in writing by such holder to the Company expressly for use in such
Registration Statement or Prospectus. In no event shall the liability of any
selling holder of Registered Registrable Securities hereunder be greater in

                                       11
<PAGE>

amount than the dollar amount of the proceeds (net of the payment of all
expenses) received by such holder upon the sale of the Registered Registrable
Securities giving rise to such indemnification obligation. The Company shall be
entitled to receive indemnities from underwriters, selling brokers, dealer
managers and similar securities industry professionals participating in the
distribution to the same extent as provided above with respect to information so
furnished in writing by such Persons expressly for use in any Prospectus or
Registration Statement.

         (c) Conduct of Indemnification Proceedings. Any Person entitled to
indemnification hereunder shall (i) give prompt notice to the indemnifying party
of any claim with respect to which it seeks indemnification and (ii) permit such
indemnifying party to assume the defense of such claim with counsel reasonably
satisfactory to the indemnified party; provided, however, that any Person
entitled to indemnification hereunder shall have the right to employ separate
counsel and to participate in the defense of such claim, but the fees and
expenses of such counsel shall be at the expense of such Person unless (a) the
indemnifying party has agreed to pay such fees or expenses or (b) the
indemnifying party shall have failed promptly to assume the defense of such
claim and employ counsel reasonably satisfactory to such Person or (c) in the
reasonable judgment of any such Person, based upon advice of counsel, a conflict
of interest may exist between such Person and the indemnifying party with
respect to such claims (in which case, if such Person notifies the indemnifying
party in writing that such Person elects to employ separate counsel at the
expense of the indemnifying party, the indemnifying party shall not have the
right to assume the defense of such claim on behalf of such Person) (it being
understood that the indemnifying party shall only be required to pay the fees of
one separate counsel for all holders of Registrable Securities). The
indemnifying party will not be subject to any liability for any settlement made
without its consent (but such consent will not be unreasonably withheld). No
indemnifying party will without the consent of the indemnified party consent to
entry of any judgment or enter into any settlement which does not include as an
unconditional term thereof the giving by the claimant or plaintiff to such
indemnified party of a release from all liability in respect to such claim or
litigation.

         (d) Contribution. If the indemnification provided for in this Section 7
is unavailable to an indemnified party under Section 7(a) or 7(b) hereof (other
than by reason of exceptions provided in those Sections) in respect of any
Losses, then each applicable indemnifying party, in lieu of indemnifying such
indemnified party, shall, jointly and severally, contribute to the amount paid
or payable by such indemnified party as a result of such Losses, in such
proportion as is appropriate to reflect the relative fault of the indemnifying
party and indemnified party in connection with the actions, statements or
omissions which resulted in such Losses as well as any other relevant equitable
considerations. The relative fault of such indemnifying party and such
indemnified party shall be determined by reference to, among other things,
whether any action in question, including any untrue or alleged untrue statement
of a material fact or omission or alleged omission to state a material fact, has
been taken or made by, or relates to information supplied by, such indemnifying
party or indemnified party, and the parties' relative intent, knowledge, access
to information and opportunity to correct or prevent such action, statement or
omission. The amount paid or payable by a party as a result of any Losses shall
be deemed to include, subject to the limitations set forth in Section 7(c), any
legal or other fees or expenses reasonably incurred by such party in connection
with any investigation or proceeding.

                                       12
<PAGE>

         The parties hereto agree that it would not be just and equitable if
contribution pursuant to this Section 7(d) were determined by pro rata
allocation or by any other method of allocation which does not take into account
the equitable considerations referred to in the immediately preceding paragraph.
Notwithstanding the provisions of this Section 7(d), an indemnifying party which
is a selling holder of Registered Registrable Securities and is not at fault
shall not be required to contribute any amount in excess of the amount by which
the total price at which the Registered Registrable Securities sold by such
indemnifying party and distributed to the public were offered to the public
exceeds the amount of any damages which such indemnifying party has otherwise
been required to pay by reason of such untrue or alleged untrue statement or
omission or alleged omission. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any Person who was not guilty of such fraudulent
misrepresentation.

         8. Rule 144

         The Company shall file the reports required to be filed by it under the
Exchange Act, and it will take such further action as any holder of Registered
Registrable Securities may reasonably request, all to the extent required from
time to time to enable such holder to sell Registered Registrable Securities
without registration under the Securities Act within the limitations of the
exemption provided by Rule 144 under the Securities Act, as such Rule may be
amended from time to time, or any similar rule or regulation hereafter adopted
by the SEC. Upon the request of any holder of Registered Registrable Securities
the Company shall deliver to such holder a written statement as to whether the
Company has complied with such filing requirements.

         9. Underwritten Registrations

         If any of the Registrable Securities covered by Demand Registrations
are to be sold in an underwritten offering, the investment banker or investment
bankers and manager or managers that will manage the offering will be selected
by the holders of a majority in aggregate number of shares of such Registrable
Securities included in such offering and will be reasonably acceptable to the
Company. No Person may participate in any underwritten registration hereunder
unless such Person (a) agrees to sell such Person's Registered Registrable
Securities on the basis provided in any underwriting arrangements approved by
the Persons entitled hereunder to approve such arrangements and (b) completes
and executes all questionnaires, powers of attorney, indemnities, underwriting
agreements and other documents required under the terms of such underwriting
arrangements.

         10. Miscellaneous

         (a) Remedies. In the event of a breach by the Company of its
obligations under this Agreement, each holder of Registrable Securities, in
addition to being entitled to exercise all rights granted by law, including
recovery of damages, will be entitled to specific performance of its rights
under this Agreement. The Company agrees that monetary damages would not be
adequate compensation for any loss incurred by reason of a breach by it of this
Agreement which restricts, prohibits or delays registration of any Registrable
Securities and hereby further agrees that, in the event of any action for
specific performance in respect of

                                       13
<PAGE>

any such breach, it shall waive the defense that a remedy at law would be
adequate. Except as otherwise specifically provided for in this Section 10(a) in
respect to the rights of the holders of Registrable Securities rights to
specific performance, all other disputes or claims concerning the interpretation
of this Agreement, and the relative rights and obligations of the parties
hereunder, shall be resolved pursuant to Section 4.9 of the Stockholders
Agreement.

         (b) No Conflicting or Inconsistent Agreements. The Company shall not,
on or after the date of this Agreement, enter into any agreement with respect to
its securities which is in conflict or inconsistent with the rights granted to
the holders of Registrable Securities in this Agreement or otherwise conflicts
with the provisions hereof.

         (c) Amendments and Waivers. The provisions of this Agreement, including
the provisions of this sentence, may not be amended, modified or supplemented,
and waivers or consents to departures from the provisions hereof will not be
binding on any holder of Registrable Securities not giving such waiver or
consent, unless the Company has obtained the written consent of holders of at
least a majority in aggregate number of the then outstanding Registrable
Securities affected by such amendment, modification, supplement, waiver or
consent which amendment, modification, supplement, waiver or consent shall be
binding upon all holders of Registrable Securities. Notwithstanding the
foregoing, a waiver or consent to depart from the provisions hereof with respect
to a matter which relates exclusively to the rights of holders of Registered
Registrable Securities whose securities are being sold pursuant to a
Registration Statement and which does not directly or indirectly affect the
rights of other holders of Registrable Securities whose securities are not being
sold pursuant to a Registration Statement, may be given by holders of a majority
in number of the Registrable Securities being sold by such holders which consent
or waiver shall be binding on all such Registered Registrable Securities;
provided, however, that the provisions of this sentence may not be amended,
modified, or supplemented except in accordance with the provisions of the
immediately preceding sentence.

         (d) Notices. All notices and other communications hereunder shall be in
writing and shall be deemed given if delivered personally, telecopied (with
receipt confirmed) or mailed by registered or certified mail (return receipt
requested) to the parties at the following addresses (or at such other address
for a party as shall be specified by like notice):

         If to Investors:    c/o Clarence W. Schawk
                             1410 Lois Court
                             Park Ridge, Illinois  60068

         If to the Company:  Schawk, Inc.
                             1695 North River Road
                             Des Plaines, Illinois  60018
                             Attention:  Clarence W. Schawk
                             Telecopier No.:  (847) 827-1264

                                       14
<PAGE>

         Copies to:          Schawk, Inc.
                             1695 North River Road
                             Des Plaines, Illinois  60018
                             Attention:  Clarence W. Schawk
                             Telecopier No.:  (847) 827-1264

                             Vedder, Price, Kaufman & Kammholz, P.C.
                             222 North LaSalle Street
                             Suite 2600
                             Chicago, Illinois  60601
                             Attention:  John T. McEnroe
                             Telecopier No.:  (312) 609-5005

         (e) Successors and Assigns. This Agreement shall inure to the benefit
of and be binding upon the successors and assigns of each of the parties,
including without limitation and without the need for an express assignment,
subsequent holders of Registrable Securities.

         (f) Counterparts. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

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

         (h) Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Delaware, without regard to principles
of conflict of laws.

         (i) Severability. In the event that any one or more of the provisions
contained herein, or the application thereof in any circumstance, is held
invalid, illegal or unenforceable, the validity, legality and enforceability of
any such provision in every other respect and of the remaining provisions
contained herein shall not be affected or impaired thereby.

         (j) Entire Agreement. This Agreement is intended by the parties as a
final expression of their agreement, and is intended to be a complete and
exclusive statement of the agreement and understanding of the parties hereto, in
respect of the subject matter contained herein. This Agreement supersedes all
prior agreements and understandings between the parties with respect to such
subject matter, including without limitation, the 1994 Registration Rights
Agreement and any amendments thereto or restatements thereof.

                                       15
<PAGE>

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first written above.

                                        SCHAWK, INC.

                                        By:/s/ David A. Schawk
                                           -------------------------------------
                                           Name:  David A. Schawk
                                           Title:

                                        INVESTORS:

                                        /s/ Clarence W. Schawk
                                        ----------------------------------------
                                        Clarence W. Schawk

                                        /s/ Marilyn G. Schawk
                                        ----------------------------------------
                                        Marilyn G. Schawk

                                        /s/ David A. Schawk
                                        ----------------------------------------
                                        David A. Schawk

                                        /s/ Cathy Ann Schawk
                                        ----------------------------------------
                                        Cathy Ann Schawk

                                        /s/ Judith Lynn Gallo
                                        ----------------------------------------
                                        Judith Lynn Gallo

                                        /s/ Lisa Beth Stearns
                                        ----------------------------------------
                                        Lisa Beth Stearns

                                        /s/ A. Alex Sarkisian
                                        ----------------------------------------
                                        A. Alex Sarkisian, as
                                        Trustee of the David
                                        A. Schawk Family Trust
                                        dated 11/30/88 F/B/O
                                        Colleen Teryl Schawk

                                       16
<PAGE>

                                        /s/ A. Alex Sarkisian
                                        ----------------------------------------
                                        A. Alex Sarkisian, as
                                        Trustee of the David
                                        A. Schawk Family Trust
                                        dated 11/30/88 F/B/O
                                        Kara Elizabeth Schawk

                                        /s/ A. Alex Sarkisian
                                        ----------------------------------------
                                        A. Alex Sarkisian, as
                                        Trustee of the David
                                        A. Schawk Family Trust
                                        dated 11/30/88 F/B/O
                                        Kelly Lynn Schawk

                                        /s/ A. Alex Sarkisian
                                        ----------------------------------------
                                        A. Alex Sarkisian, as
                                        Trustee of the Lisa
                                        Beth Schawk Stearns
                                        1991 Family Trust
                                        dated 11/30/91 F/B/O
                                        William David Stearns

                                        /s/ A. Alex Sarkisian
                                        ----------------------------------------
                                        A. Alex Sarkisian, as
                                        Trustee of the Lisa
                                        Beth Schawk Stearns
                                        1991 Family Trust
                                        dated 11/30/91 F/B/O
                                        Mallory Adell Stearns

                                        /s/ A. Alex Sarkisian
                                        ----------------------------------------
                                        A. Alex Sarkisian, as
                                        Trustee of the Judith
                                        Lynn Gallo 1991 Family
                                        Trust F/B/O Jessica
                                        Lynn Gallo

                                       17

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