Document:

EXHIBIT 4(m)

   Twentieth Supplemental Collateral Trust Indenture dated December 15, 1999

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                                                                   EXHIBIT 4(m)

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                          ROLLINS TRUCK LEASING CORP.

                                      and

                           FIRST UNION NATIONAL BANK

                                  as Trustee

                       TWENTIETH SUPPLEMENTAL INDENTURE

                         Dated as of December 15, 1999

                                    to the

                          Collateral Trust Indenture

                          Dated as of March 21, 1983

      7.77% COLLATERAL TRUST DEBENTURES, Series U, DUE DECEMBER 15, 2004

==============================================================================

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                              TABLE OF CONTENTS*

                                                                          Page

PARTIES.....................................................................1

RECITALS:
Execution of Collateral Trust Indenture Supplemental
   Indentures...............................................................1
   Issuance of Series U Debentures..........................................1
   Text of Forms:
      Form of Face of Series U Debentures...................................1
      Form of Trustee's Authentication Certificate for Series U Debentures  3
      Form of Reverse of Series U Debentures................................3
   All Things Done..........................................................5

GRANTING CLAUSES:

         GRANTING CLAUSE I - Securities.....................................6
         GRANTING CLAUSE II - Agreements and Assignments....................6
         GRANTING CLAUSE III - Other Securities and Property................6
HABENDUM....................................................................6
GRANT IN TRUST..............................................................7
GENERAL COVENANT............................................................7
SECTION 1. Series U Debentures: Terms and Provisions........................7
SECTION 2. Authentication and Delivery of Series U Debentures...............8
SECTION 3. Maintenance of Office or Agency; Authenticating Agent for
              Series U Debentures...........................................8
SECTION 4. Original Indenture Ratified......................................8
SECTION 5. Trustee Not Responsible..........................................8
SECTION 6. Defined Terms....................................................9
SECTION 7. Counterparts.....................................................9
SECTION 8. Applicable Law...................................................9
TESTIMONIUM................................................................10
EXECUTION..................................................................10
ACKNOWLEDGEMENTS...........................................................10

---------------------------
*Note:  This Table of Contents has been inserted for convenience and does not
        constitute a part of the Twentieth Supplemental Indenture.

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          TWENTIETH SUPPLEMENTAL INDENTURE (herein called the "Twentieth
Supplemental Indenture"), dated as of December 15, 1999, between Rollins Truck
Leasing Corp., (formerly RLC CORP.) a Delaware corporation (herein called the
"Corporation"), and FIRST UNION NATIONAL BANK, as Trustee (herein called the
"Trustee").

          WHEREAS, the Corporation and the Trustee have heretofore executed
and delivered a Collateral Trust Indenture dated as of March 21, 1983, as
supplemented and amended by a Third Supplemental Indenture thereto dated as of
February 20, 1986, by an Eighth Supplemental Indenture thereto dated May 15,
1990 and by a Seventeenth Supplemental Indenture thereto dated as of March 10,
1997 (the "Original Indenture"; the Original Indenture, and as supplemented by
this Twentieth Supplemental Indenture, being herein called the "Indenture");

          WHEREAS, the Original Indenture provides that the Corporation and
the Trustee may enter into indentures supplemental to the Original Indenture,
among other things, to provide for the issuance from time to time of
debentures (defined in the Original Indenture as "Debentures") of the
Corporation;

          WHEREAS, the Corporation has determined to issue hereunder a series
of Debentures (herein called the "Series U Debentures") to be designated as
"7.77% Collateral Trust Debentures, Series U, Due December 15, 2004", to be in
the aggregate principal amount of $85,000,000;

          WHEREAS, the Series U Debentures and the Trustee's certificate to be
endorsed on the Series U Debentures are to be in the following forms, with
necessary or appropriate variations, omissions and insertions as permitted or
required by the Indenture:

                     (FORM OF FACE OF Series U DEBENTURES)

                          Rollins Truck Leasing Corp.

       7.77% COLLATERAL TRUST DEBENTURE, Series U, DUE DECEMBER 15, 2004

$                                                        PPN 775741 B* 1
                                                         No.

          Rollins Truck Leasing Corp., a corporation organized and existing
under the laws of the State of Delaware (herein called the "Corporation",
which term shall include any successor corporation to the extent provided in
the Indenture hereinafter referred to), for value received, hereby promises to
pay to , or registered assigns, the principal sum of Dollars on December 15,
2004, in such coin or currency of the United States of America as at the time
of payment shall be legal tender for public and private debts, and to pay
interest

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on said principal sum at the rate of 7.77% per annum (and at the rate of 9.77%
per annum on any overdue principal and, to the extent legally enforceable,
overdue installment of interest) in like coin or currency from the fifteenth
day of June or December, as the case may be, to which interest on the Series U
Debentures has been paid preceding the date hereof (unless the date hereof is
a June 15 or December 15 to which interest has been paid, in which case from
the date hereof, or unless no interest has been paid on the Series U
Debentures since the original issuance of this Debenture, in which case from
December 15, 1999), semiannually on each June 15 and December 15 until payment
of said principal sum has been made or duly provided for. Notwithstanding the
foregoing, if the date hereof is after June 1 or December 1, as the case may
be, and before the following June 15 or December 15, this Debenture shall bear
interest from such June 15 or December 15; provided, however, that if the
Corporation shall default in the payment of interest due on such June 15 or
December 15, then this Debenture shall bear interest from the next preceding
June 15 or December 15 to which interest has been paid or, if no interest has
been paid on the Series U Debentures since the original issuance of this
Debenture, from December 15, 1999. The interest so payable on any June 15 or
December 15 will, subject to certain exceptions provided in the Indenture
referred to on the reverse hereof, be paid to the person in whose name this
Debenture is registered at the close of business on June 1 or December 1, as
the case may be, next preceding such June 15 or December 15. Payment of the
principal of and interest on this Debenture will be made at the office or
agency of the Corporation in the Borough of Manhattan, The City of New York,
New York; provided, however, that interest may be paid, at the option of the
Corporation, by check mailed to the registered holder hereof at such holder's
address last appearing on the registry books for the Series U Debentures, or
in such other manner as the Corporation may agree with the holder hereof as
contemplated by Section 1(d) of the Twentieth Supplemental Indenture referred
to on the reverse hereof.

          Additional provisions of this Debenture are contained on the reverse
hereof and such provisions shall for all purposes have the same effect as
though fully set forth at this place.

          This Debenture shall not be entitled to any of the benefits of the
Indenture or any indenture supplemental thereto, or be valid or obligatory for
any purpose, unless the form of certificate of authentication hereon shall
have been executed by or on behalf of the Trustee (referred to on the reverse
hereof) or a successor trustee thereto under the Indenture.

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          IN WITNESS WHEREOF, Rollins Truck Leasing Corp. has caused this
instrument to be signed in its name by its President or a Vice President and
by its Secretary or an Assistant Secretary, or by facsimiles of any of their
signatures, and its corporate seal, or a facsimile thereof, to be hereto
affixed.

DATED:
      ------------------------

                                        Rollins Truck Leasing Corp.

                                        BY:
                                            --------------------------
                                            (Title)

(SEAL)

ATTESTED:

------------------------------
(Title)

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                (FORM OF TRUSTEE'S AUTHENTICATION CERTIFICATE)

                     TRUSTEE'S AUTHENTICATION CERTIFICATE

          THIS IS ONE OF THE DEBENTURES, OF THE SERIES DESIGNATED THEREIN,
DESCRIBED IN THE WITHIN-MENTIONED INDENTURE.

                                        FIRST UNION NATIONAL BANK,
                                        AS TRUSTEE

                                        BY:
                                           -------------------------------

                                           AUTHORIZED OFFICER

                   (FORM OF REVERSE OF Series U DEBENTURES)

          This Debenture is one of the Debentures of the Corporation (herein
called the "Debentures"), all duly authorized or from time to time to be duly
authorized and not limited in aggregate principal amount, all issued and to be
issued in one or more series from time to time under and equally secured by a
Collateral Trust Indenture dated as of March 21, 1983, between the Corporation
and First Union National Bank, as Trustee (herein called the "Trustee", which
term includes any successor trustee under the Indenture as hereinafter
defined), as supplemented and amended by a Third Supplemental Indenture
thereto dated as of February 20, 1986, by an Eighth Supplemental Indenture
thereto dated as of May 15, 1990 and by a Seventeenth Supplemental Indenture
thereto dated as of March 10, 1997 and as last supplemented by the Twentieth
Supplemental Indenture, dated as of December 15, 1999 (said Indenture, as so
supplemented and amended, being herein called the "Indenture"), to which
Indenture and all indentures supplemental thereto reference is hereby made for
a description of the property thereby pledged, the nature and extent of the
security, the rights of the holders of the Debentures in respect of the
security, the rights, duties and immunities of the Trustee and the rights and
obligations of the Corporation in respect of the Debentures, and the terms and
conditions upon which the Debentures are, and are to be, secured. The
Debentures may be issued in series, for various principal sums, may mature at
different times, may bear interest at different rates and may otherwise vary
as in the Indenture provided. This Debenture is one of a series designated as
the "7.77% Collateral Trust Debentures, Series U, Due December 15, 2004" of
the Corporation (herein called the "Series U Debentures"), duly authorized and

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lawfully issued in an aggregate principal amount of $85,000,000 under and
secured by the Indenture.

          The provisions of the Indenture may be waived, or modified or
amended by supplemental indenture, to the extent and in the manner provided in
the Indenture, but in certain instances only with the consent of the holders
of a majority in aggregate principal amount of all Debentures at the time
outstanding, and of 66 2/3% in aggregate principal amount of each series of
the Debentures at the time outstanding which is affected by such waiver or
supplemental indenture; provided, however, that, without the written consent
of the holder of this Debenture, no such modification or amendment shall be
made so as to (i) extend the fixed maturity of this Debenture or the time of
payment of interest hereon, or reduce or otherwise modify the terms of payment
of the principal of, or the rate of interest on, this Debenture, or adversely
affect the right of the holder hereof to institute suit for the enforcement of
any such payment, (ii) permit the creation of any lien ranking prior to or on
a parity with the lien of the Indenture with respect to, or terminate the lien
of the Indenture on, any of the property covered thereby, or deprive the
holder hereof of the security afforded by the lien of the Indenture or (iii)
reduce the percentage of the aggregate principal amount of Debentures, or of
Series U Debentures, required to authorize any such modification or amendment
or any waiver of any provision of, or default under, the Indenture.

          In case an Event of Default (as defined in the Indenture) shall
occur, the principal of all the Debentures at any such time outstanding under
the Indenture may be declared or may become due and payable upon the
conditions and in the manner and with the effect provided in the Indenture.
The Indenture provides that in certain events such Event of Default and its
consequences may be waived and such declaration may be rescinded by the
holders of outstanding Debentures in the manner provided in the Indenture.

          Any request, demand, authorization, direction, declaration, notice,
consent, waiver or other action by the holder of this Debenture shall bind the
holder of every Debenture issued upon the registration of transfer hereof or
in exchange herefor or in lieu hereof, in respect of anything done or suffered
to be done by or on behalf of the Trustee or the Corporation in reliance
thereon, whether or not notation of such action is made upon this Debenture.

          The Series U Debentures may not be redeemed prior to maturity.

          The transfer of this Debenture may be registered by the registered
holder hereof or by his duly authorized attorney at the office or agency of
the Corporation in the Borough of Manhattan, the City of New York, New York,
upon surrender of this Debenture for cancellation, accompanied by a written
instrument of transfer in a form approved by the Corporation, duly executed by
the registered holder of this Debenture or by his duly authorized attorney,
and thereupon one or more new Debentures of the same series and aggregate
principal amount will be issued in the name of the transferee or transferees
in exchange herefor without

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service charge, except that the Corporation may require payment of a sum
sufficient to pay any stamp taxes or other governmental charges that may be
required with respect thereto, as provided in the Indenture.

          The person in whose name this Debenture shall be registered shall be
deemed the absolute owner hereof for all purposes, and payment of or on
account of the principal of and interest on, this Debenture shall be made only
to or upon the written order of such registered owner or his duly authorized
attorney. All such payments shall satisfy and discharge the liability upon
this Debenture to the extent of the amounts so paid.

          No recourse shall be had for the payment of the principal of, or
interest on, this Debenture, or for any claim based hereon, or otherwise in
respect hereof, or based on or in respect of the Indenture or any indenture
supplemental thereto, against any incorporator, stockholder, officer or
director, as such, past, present or future, of the Corporation or any
successor corporation, whether by virtue of any constitution, statute or rule
of law, or by the enforcement of any assessment or penalty or otherwise, all
such liability being, by the acceptance hereof and as part of the
consideration for the issue hereof, expressly waived and released.

                (END OF FORM OF REVERSE OF Series U DEBENTURES)

          WHEREAS, the Debentures of any other series are to be substantially
in the forms herein provided for Series U Debentures, with such omissions,
insertions and variations as may be authorized and permitted by this
Indenture; and

          WHEREAS, all acts and things prescribed by law, by the Certificate
of Incorporation and the By-laws of the Corporation, and all other acts and
things necessary to make the Series U Debentures, when executed by the
Corporation, and authenticated and delivered by the Trustee as in this
Twentieth Supplemental Indenture provided, the valid, binding and legal
obligations of the Corporation, and to make this Twentieth Supplemental
Indenture a valid, binding and legal instrument for the security of the Series
U Debentures, in accordance with its terms, have been done and performed;

          NOW, THEREFORE, THIS TWENTIETH SUPPLEMENTAL INDENTURE WITNESSETH:

          THAT the Corporation, in consideration of these premises, of the
acceptance by the Trustee of the trusts created hereby, of the mutual
covenants herein contained, of the purchase and acceptance of the Debentures
by the holders thereof, of the sum of $10 duly paid by the Trustee to the
Corporation at or before the ensealing and delivery of this Twentieth
Supplemental Indenture and for other valuable consideration, the receipt
whereof is hereby acknowledged, and in order to secure the payment of the
principal of, and premium, if any, and

<PAGE>

interest on, all Debentures at any time issued and Outstanding under the
Indenture, according to their tenor and effect, and the performance and
observance by the Corporation of all the covenants and conditions herein and
therein contained on its part to be performed and observed, and to declare the
terms and conditions upon and subject to which the Debentures are, and are to
be, issued and secured, has executed and delivered this Indenture and has
granted, bargained, sold, remised, released, conveyed, assigned, transferred,
mortgaged, pledged, set over, confirmed and warranted, and by these presents
does grant, bargain, sell, remise, release, convey, assign, transfer,
mortgage, pledge, set over, confirm and warrant, to the Trustee, and to its
successors in the trusts and its and their assigns forever, with power of
sale, all and singular the following:

                               GRANTING CLAUSE I

                                  Securities

          Note of Rollins Leasing Corp., a Delaware corporation, dated
December 15, 1999, in the aggregate principal amount of $85,000,000.

                              GRANTING CLAUSE II

                          Agreements and Assignments

                   The following agreements and assignments:

          A. A Loan Agreement, dated as of December 15, 1999, between the
Corporation and Rollins Leasing Corp., which Loan Agreement shall be in the
form attached hereto as Exhibit A.

          B. Assignment of Loan Agreement, dated as of December 15, 1999,
assigning the Loan Agreement described in Subparagraph A of this Granting
Clause II to the Trustee, which Assignment shall be in the form attached
hereto as Exhibit B.

                              GRANTING CLAUSE III

                         Other Securities and Property

          All other securities and other property, including cash, and any and
all security therefor of whatsoever nature, that may, from time to time
hereafter, by delivery or by writing of any kind, be subjected to the lien
hereof by the Corporation or by anyone on its behalf; and the Trustee is
hereby authorized to receive the same as additional security hereunder. Such
subjection to the lien hereof of such securities or other property, including
cash, as additional

<PAGE>

security hereunder may be made subject to any reservations, limitations or
conditions which shall not be prohibited by this Indenture and which shall be
set forth in a written instrument executed by the Corporation or the person so
acting on its behalf, respecting the use and disposition of such property or
the proceeds thereof.

          TO HAVE AND TO HOLD the Pledged Property unto the Trustee and its
successors and assigns forever;

          BUT IN TRUST, NEVERTHELESS, for the equal and proportionate benefit
and security of the holders from time to time of all the Debentures issued
hereunder and Outstanding, without any priority of any of said Debentures over
any of the others.

          IT IS HEREBY COVENANTED, DECLARED AND AGREED that all the Debentures
are to be issued, authenticated and delivered, and that all property,
including cash, subject or to become subject hereto is to be held, subject to
the further covenants, conditions, uses and trusts hereinafter set forth, and
the Corporation, for itself and its successors and assigns, hereby covenants
and agrees to and with the Trustee and its successors in said trust for the
equal and proportionate benefit and security of those who shall hold the
Debentures, as hereinafter set forth.

          SECTION 1. Series U Debentures: Terms and Provisions. Series U
Debentures shall be designated as "7.77% Collateral Trust Debentures, Series
U, Due December 15, 2004" of the Corporation, and shall have the following
terms and provisions:

          (a) Series U Debentures shall be in the form set forth in the
     recitals hereto.

          (b) The aggregate principal amount of Series U Debentures which may
     be issued shall be $85,000,000, except Series U Debentures issued in
     exchange for, in lieu of, in substitution for, or upon the registration
     of transfer of, other Series U Debentures pursuant to the provisions of
     Article II and Section 18.04 of the Original Indenture.

          (c) Series U Debentures shall be dated December 15, 1999.

          (d) Series U Debentures shall mature December 15, 2004 and shall
     bear interest (calculated on the basis of a 360 day year of twelve 30 day
     months) as provided in Section 2.06(b) of the Original Indenture, payable
     semiannually on June 15 and December 15 in each year, commencing June 15,
     2000 at the rate of 7.77% per annum until the principal thereof shall
     become due and payable (whether at the stated maturity, by declaration or
     otherwise), and at the rate of 9.77% per annum on any overdue principal,
     and (to the extent legally enforceable) any overdue installment of
     interest. Payment of principal and interest shall be made at the
     Corporate Trust Office or at the other office or agency maintained by the
     Corporation as provided in Section 7.02(a) of

<PAGE>

     the Original Indenture, in such coin or currency of the United States of
     America as at the time of payment shall be legal tender for the payment
     of public and private debts; provided, however, that interest may be
     paid, at the option of the Corporation, by check mailed to the Person
     entitled thereto at his address last appearing on the registry books
     required to be kept pursuant to Section 2.05 of the Original Indenture.

          Notwithstanding anything to the contrary above, the Corporation may
     enter into a written agreement with any person who is or is to become the
     holder of any of the Series U Debentures providing for the making of all
     payments on the account of such Series U Debentures directly to or for
     the account of such holder in the manner specified in or pursuant to such
     agreement without presentation or surrender thereof if there shall be
     filed with the Trustee a copy of such agreement. Notwithstanding any
     contrary provision hereof or of the Debentures or the Original Indenture,
     the Trustee shall act in accordance with any such agreement so filed with
     it.

          (e) Series U Debentures shall be issued in denominations of $100,000
     and integral multiples thereof and may be fully printed or printed on
     steel engraved borders or fully or partly engraved.

          (f) Series U Debentures may not be redeemed prior to maturity. All
     monies received by the Trustee as a result of any prepayment of the Note
     made pursuant to Section 6(a) of the Loan Agreement (as required by
     Section 7.14 of the Original Indenture) shall be held by the Trustee as
     additional collateral security for the Series U Debentures to be applied
     thereto at the maturity thereof. Any monies so held may be invested or
     reinvested by the Trustee pursuant to Section 9.02 of the Original
     Indenture.

          SECTION 2. Authentication and Delivery of Series U Debentures. On or
after the date of execution and delivery of the Twentieth Supplemental
Indenture and upon compliance with the provisions of Article IV of the
Original Indenture, Series U Debentures shall be executed by the Corporation
and delivered to the Trustee, and the Trustee shall, upon request,
authenticate and deliver such Series U Debentures upon the written order of
the Corporation signed by its President or one of its Vice Presidents and its
Treasurer or Controller, an Assistant Treasurer or an Assistant Secretary.

          SECTION 3. Maintenance of Office or Agency; Authenticating Agent for
Series U Debentures. The provisions of Section 7.02 of the Original Indenture
shall apply in all respects to the Series U Debentures to the same extent as
if the words "Series U Debentures" were substituted for the words "Series A
Debentures" in each place in which the latter quotation was employed in the
aforesaid Section.

          SECTION 4. Original Indenture Ratified. The Original Indenture as
amended by the Third Supplemental Indenture, dated as of February 20, 1986, by
the Eighth

<PAGE>

Supplemental Indenture, dated as of May 15, 1990, and by the Seventeenth
Supplemental Indenture, dated as of March 10, 1997, and as supplemented by
this Twentieth Supplemental Indenture is in all respects ratified and
confirmed and the Twentieth Supplemental Indenture and all its provisions
shall be deemed a part thereof in the manner and to the extent herein
provided, and the Original Indenture, as modified in the manner and to the
extent herein provided, shall be deemed a part hereof as though fully set
forth herein.

          SECTION 5. Trustee Not Responsible. The Trustee assumes no
responsibility for or in respect of the validity or sufficiency of the
Twentieth Supplemental Indenture or the due execution hereof by the
Corporation or for or in respect of the recitals and statements contained
herein, all of which are made solely by the Corporation. The Trustee accepts
the trusts created by the Twentieth Supplemental Indenture upon the terms and
conditions hereof and of the Original Indenture.

          SECTION 6. Defined Terms. All terms used in the Twentieth
Supplemental Indenture which are defined in the Original Indenture shall have
the meanings assigned to them in the Original Indenture.

          SECTION 7. Counterparts. The Twentieth Supplemental Indenture may be
executed in any number of counterparts, each of which when so executed and
delivered shall be an original; and all such counterparts shall together
constitute but one and the same instrument.

          SECTION 8. Applicable Law. This Twentieth Supplemental Indenture
shall be construed in accordance with and governed by the laws of the State of
Delaware.

<PAGE>

          IN WITNESS WHEREOF, Rollins Truck Leasing Corp. has caused this
Twentieth Supplemental Indenture to be executed on its behalf by its President
or one of its Vice Presidents and its corporate seal to be hereto affixed and
said seal and this Twentieth Supplemental Indenture to be attested by its
Secretary or Assistant Secretary, and First Union National Bank, in evidence
of its acceptance of the trusts hereby created, has caused this Twentieth
Supplemental Indenture to be executed on its behalf and its corporate seal to
be affixed by one of its Vice Presidents or Assistant Vice Presidents and said
seal and this Indenture to be attested by its Assistant Secretary or one of
its Assistant Vice Presidents, as of December 15, 1999.

                                        Rollins Truck Leasing Corp.

(CORPORATE SEAL)                           BY:
                                               --------------------------
                                               Vice President-Finance

Attest:

------------------------------
Secretary

                                        FIRST UNION NATIONAL BANK,
                                        as Trustee

(CORPORATE SEAL)                           BY:
                                               ---------------------------
                                               Title:

Attest:

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

<PAGE>

                                                                     EXHIBIT A

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                          ROLLINS TRUCK LEASING CORP.

                                      AND

                             ROLLINS LEASING CORP.

                                LOAN AGREEMENT

                         Dated as of December 15, 1999

==============================================================================

<PAGE>

          LOAN AGREEMENT (herein called the "Agreement") dated as of December
15, 1999 between Rollins Truck Leasing Corp., a corporation organized under
the laws of the State of Delaware (herein called the "Corporation"), and
Rollins Leasing Corp., a corporation organized under the laws of the State of
Delaware (herein called the "Borrower").

          WHEREAS, the Borrower desires to borrow from the Corporation, and
the Corporation is willing to lend to the Borrower, a sum not exceeding
$85,000,000, all upon the terms, provisions and conditions herein set forth;

          NOW, THEREFORE, in consideration of the premises and the mutual
undertakings and obligations herein contained and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the Borrower and the Corporation do hereby agree as follows:

          SECTION 1. Certain Definitions. The Corporation proposes to issue
its 7.77% Collateral Trust Debentures, Series U, due December 15, 2004 (herein
called the "Series U Debentures"), in an aggregate principal amount not
exceeding $85,000,000, pursuant to a Collateral Trust Indenture dated as of
March 21, 1983, as supplemented and amended by a Third Supplemental Indenture
thereto dated as of February 20, 1986, by an Eighth Supplemental Indenture
thereto dated as of May 15, 1990 and by a Seventeenth Supplemental Indenture
thereto dated as of March 10, 1997 between the Corporation and First Union
National Bank, as Trustee (the "Original Indenture"; the Original Indenture,
as supplemented by the Twentieth Supplemental Indenture dated as of December
15, 1999, being herein called the "Indenture"). A copy of the Indenture has
been delivered to the Borrower, receipt of which is hereby acknowledged.

          The term "Note" shall mean the 7.77% Demand Promissory Note issued
by the Borrower pursuant to this Agreement, substantially in the form attached
hereto as Annex 1.

          In addition to the foregoing, the following terms shall in each case
have the same meaning in this Agreement as they have in the Indenture as
amended: "Debentures", "Equipment Indebtedness", "Note", "Outstanding",
"Participating Subsidiary", "Permitted Indebtedness", "Person", "Pledged
Property", "Series U Debentures", "Trustee" and "Vehicle".

          SECTION 2. Sale of Note. Subject to the terms of this Agreement, the
Borrower will sell to the Corporation and the Corporation will purchase from
the Borrower the Note in the principal amount of $85,000,000 at a price of
100.0287% of such principal amount.

          The sale of the Note will take place immediately after the execution
and delivery of this Agreement and upon the delivery,

<PAGE>

          (a) by the Borrower to the Corporation of the Note, duly executed
     and dated December 15, 1999, together with all such assignments,
     documents and other instruments as may be required by the Corporation to
     enable it to effect the issuance of Series U Debentures referred to in
     Section 1, and

          (b) by the Corporation to the Borrower of a certified or official
     bank check or checks in clearing house funds (or in such other form as
     shall be acceptable to the Borrower) in an amount equal to $85,024,400;
     provided, however, that the obligation of the Corporation to purchase the
     Note shall be subject to the condition that, concurrently with the
     closing in respect of such purchase, the Corporation shall have issued
     and sold, and shall have received payment for, Series U Debentures in an
     aggregate principal amount equal to the sum of the principal amount of
     the Note.

          SECTION 3. Pledge and Assignment of Note and Agreement. In
consideration of the purchase of the Note by the Corporation and the benefits
to be derived by the Borrower as a result of the sale of the Note, the
Borrower hereby agrees and consents to the pledge and assignment by the
Corporation of the Note and this Agreement to the Trustee under and pursuant
to the Indenture as security for the Debentures Outstanding and to be
Outstanding thereunder.

          SECTION 4. Particular Covenants of the Borrower. So long as the Note
shall be outstanding, the Borrower covenants, warrants and agrees as follows:

          (a) Payment of Principal and Interest. The Borrower will duly and
     punctually pay, or cause to be paid, the principal of and interest on,
     the Note according to its terms and the terms of this Agreement.

          (b) Maintenance of Corporate Existence. Subject to the provisions of
     subsection (e) of this Section 4, the Borrower will maintain and preserve
     its corporate existence and right to carry on business.

          (c) Borrower a Participating Subsidiary; Validity of Note. The
     Borrower warrants that at the date of this Agreement it is a
     Participating Subsidiary as defined in Section 4 of the Eighth
     Supplemental Indenture dated as of May 15, 1990, and that the Note, when
     delivered to the Corporation will be, and when pledged and assigned to
     the Trustee as security under the Indenture, will continue to be, a legal
     and valid outstanding obligation of the Borrower.

          (d) Further Assurance. The Borrower will execute and deliver, or
     cause to be executed and delivered, all such additional instruments and
     do, or cause to be done, all such additional acts as (i) may be necessary
     or proper to carry out the purposes of this Agreement and to subject the
     Note to the lien of the Indenture, (ii) may be necessary or

<PAGE>

     proper to effect the transfer, pledge and assignment of the Note and this
     Agreement to the Trustee or to any successor trustee and to confirm the
     lien of the Indenture on the Note, (iii) may be necessary or proper in
     connection with the granting of the security interest under subsection
     (f) of this Section 4 or (iv) the Trustee or the Corporation may
     reasonably request for any of the foregoing purposes.

          (e) Restrictions on Borrower's Disposition of Property,
     Consolidation, Merger, etc. The Borrower will not sell, transfer or
     otherwise dispose of the beneficial interest in all or substantially all
     its property or assets, or be a party to any consolidation, merger or
     amalgamation; provided, however, that the Borrower may take any such
     action or be such a party if:

               (i) the surviving corporation (if other than the Borrower), or
          the person to whom all, or substantially all, the property and
          assets of the Borrower shall have been transferred, sold or
          otherwise disposed of, shall execute and deliver to the Corporation
          and to the Trustee an agreement of assumption in which such
          surviving corporation or person shall expressly assume the due and
          punctual payment of the principal of and interest on, the Note,
          according to its tenor and effect, and the due and punctual
          performance and observance of all the covenants and conditions of
          the Note and this Agreement which are to be performed or observed by
          the Borrower, with the same effect as if such surviving corporation
          or person had been named herein as a party hereto in lieu of the
          Borrower; and

               (ii) immediately after such transfer, sale or other
          disposition, or consolidation, merger or amalgamation, no default
          shall have occurred and be continuing under this Agreement; and

               (iii) all the voting stock of the surviving corporation shall
          be owned directly or indirectly by the Corporation.

          (f) Creation of Security Interest. The Borrower will not create or
     permit to exist any claim, lien, security interest or other encumbrance
     on any of its Vehicles, or on its interest as lessor in any lease
     agreement relating to its Vehicles, except:

               (i) lessees' interests in Vehicles under any such lease
          agreement; and

               (ii) liens, security interests or other encumbrances for taxes
          which are not delinquent or which are being contested in good faith
          or of mechanics or materialmen arising in the ordinary course of
          business in respect of obligations which are not overdue or which
          are being contested in good faith; unless (x) such claim, lien,
          security interest or other encumbrance is for the benefit of a
          holder or holders of Equipment Indebtedness and (y) prior to or
          simultaneously with the

<PAGE>

          inception of any such claim, lien, security interest or other
          encumbrance, the Borrower shall have executed and delivered to a
          Security Trustee (as hereinafter defined), a security agreement or
          security agreements and such other documents as the Security Trustee
          may reasonably request, each in form and substance satisfactory to
          the Trustee, granting to the Security Trustee the right to perfect a
          security interest in such Vehicles of the Borrower, such security
          interest, when perfected, to be for the equal and ratable benefit of
          the Trustee, as holder of the Notes, and such other holder or
          holders of Equipment Indebtedness. Such security agreement or
          security agreements may provide, at the option of the Borrower, that
          the security interest granted to the Security Trustee shall
          terminate upon the termination of all other claims, liens, security
          interests and other encumbrances for the benefit of such other
          holder or holders of Equipment Indebtedness. The Security Trustee
          shall be such Person as may be selected by the Borrower or any such
          holder of Equipment Indebtedness and who shall be entitled to act
          without qualification or who shall qualify to act as such under the
          Trust Indenture Act of 1939.

          SECTION 5. Payments of Principal and Interest. So long as the Note
shall be pledged with the Trustee under the Indenture, any payment of
principal or interest on the Note, or any payments to be made pursuant to
Section 6(a), shall be paid to the Trustee in Chicago Clearing House funds at
least one business day prior to the dates on which the Corporation would be
required to make related payments under the Indenture with respect to the
relevant Debentures. The Trustee shall apply such payments in accordance with
the provisions of the Indenture.

          SECTION 6. Prepayment of Note.

          (a) Prepayments Pursuant to Section 7.14 of the Original Indenture.
     So long as the Note shall be pledged with the Trustee under the
     Indenture, the Borrower shall pay, or cause to be paid, to the Trustee,
     as prepayments on the Note, amounts which may be required to be paid by
     the Borrower pursuant to Section 7.14 of the Original Indenture. Any such
     amounts shall be paid as provided in Section 5 of this Agreement and
     shall be applied as payment or prepayment on the Note in accordance with
     subsection (c) of this Section 6.

          (b) Notice of Certain Prepayments. If the Corporation is required to
     make payments pursuant to Section 7.14 of the Original Indenture, the
     Corporation shall give notice thereof to the Borrower, which notice shall
     state the circumstances under which such payments are to be made. Such
     notice shall be given not later than the first date on which the
     Corporation is required to give notice to the Trustee or to take any
     other action with respect to such payments. Failure to give any such
     notice to the Borrower or any

<PAGE>

     defect therein shall not, however, affect the obligation of the Borrower
     to make the payments required under subsection (a) of this Section 6.

          (c) Prepayments on Principal Amount of Note. All payments made by
     the Borrower, or for the account of the Borrower, pursuant to this
     Section 6 shall be applied or credited as prepayments on the principal
     amount of the Note on the date such payments are received by the Trustee;
     provided, however, that to the extent a portion of such payments or
     moneys shall be applied or applicable by the Trustee, directly or
     indirectly, towards the payment of any interest or premium in respect of
     Debentures, such portion shall not be applied or credited as prepayments
     on the principal amount of the Note. It is the intention of this Section
     6 that the principal amount of the Note shall be appropriately adjusted
     at appropriate times in order that the obligations to pay principal,
     premium, if any, and interest contained in all the Notes of all
     Participating Subsidiaries shall be sufficient, after giving effect to
     any moneys then held by the Trustee under Section 9.01 of the Original
     Indenture, in the aggregate, to pay all principal, premium, if any, and
     interest on all Debentures then Outstanding as the same become due and
     payable.

          (d) Corporation To Make Certain Payments. When and if the Borrower
     shall make any prepayments provided for in this Section 6, the
     Corporation shall promptly make such payments and take such other action
     with respect to the Debentures as shall be required to be made or taken
     by the Corporation in accordance with and pursuant to this Agreement and
     the Indenture.

          SECTION 7. Presentment of Note Not Required. So long as the Note
shall be pledged with the Trustee under the Indenture, payments of principal
thereof and interest thereon, shall be made without need for any presentment
of the Note, but payments of principal shall be noted thereon by the Trustee.

          SECTION 8. Amendments, Consents and Waivers. So long as the Note
shall be pledged with the Trustee under the Indenture (a) this Agreement may
be modified, altered, supplemented or amended upon the execution and delivery
of a written amendment by the parties hereto pursuant to Article XVIII of the
Original Indenture, (b) any covenant or other condition of this Agreement may
be waived as and to the extent permitted in Section 11.02 of the Original
Indenture and (c) any default under this Agreement and its consequences may be
waived as and to the extent permitted in said Section 11.02 of the Original
Indenture.

          SECTION 9. Loss, Theft, etc. of Note. Upon receipt of evidence of
the loss, theft, destruction or mutilation of the Note and upon delivery of
indemnity reasonably satisfactory to the Borrower (it being understood that
the written agreement of the Trustee to indemnify the Borrower shall
constitute such indemnity) and, in the case of any such mutilation, upon
surrender and cancellation of the mutilated Note, and, in any case, upon
reimbursement to the Borrower of any reasonable expense incidental thereto,
the Borrower shall

<PAGE>

make and deliver a new Note of like tenor, in lieu of such lost, stolen or
destroyed Note or in exchange for such mutilated Note.

          SECTION 10. Remedies. The holder of the Note, being a party to, or
an assignee of, this Agreement, shall be entitled and empowered to institute
any suits, actions or proceedings at law, in equity or otherwise, whether for
the specific performance of any covenant or agreement contained herein or in
the Note or in aid of the exercise of any power granted herein or in the Note,
or may proceed to enforce the payment of the Note after demand, or to enforce
any other legal or equitable right as the holder of the Note, or may proceed
to take any action authorized or permitted under the terms of the Indenture
with respect to the Note or under any applicable law.

          SECTION 11. Remedies Cumulative; Delay or Omission Not a Waiver.
Every remedy given hereunder to the holder of the Note shall not be exclusive
of any other remedy or remedies, and every such remedy shall be cumulative and
in addition to every other remedy given hereunder or now or hereafter given by
statute, law, equity or otherwise. No course of dealing between the Borrower
and the Corporation or the Borrower and the holder of the Note or any delay or
omission on the part of the Corporation or such holder to exercise any right,
remedy or power accruing upon any default hereunder shall impair any such
right, remedy or power or shall be construed to be a waiver of any such
default or of any right of the Corporation or such holder or acquiescence
therein. Every right, remedy and power given hereunder to the Corporation or
to the holder of the Note may be exercised from time to time and as often as
may be deemed expedient by the Corporation or such holder.

          SECTION 12. Successors and Assigns. All the covenants, warranties
and agreements contained in this Agreement by or on behalf of the Corporation,
the Borrower or the holder of the Note shall bind and inure to the benefit of
their respective successors and assigns, whether so expressed or not.

          SECTION 13. Notices. All notices, presentments and demands to or
upon the Borrower in respect of the Note or this Agreement may be delivered or
mailed to the Borrower at One Rollins Plaza, P.O. Box 1791, Wilmington,
Delaware 19899, or at such other address as the Borrower may specify from time
to time in writing to the Corporation and the Trustee.

          All notices to or demands upon the Corporation in respect of the
Note or this Agreement shall be delivered or mailed to the Corporation at One
Rollins Plaza, P.O. Box 1791, Wilmington, Delaware 19899, or at such other
address as the Corporation may specify from time to time in writing to the
Borrower and the Trustee.

          SECTION 14. Payment or Notice on Saturday, Sunday, Legal Holiday. If
the date of any payment or the giving of any notice under the Note or this
Agreement shall be (a) a Saturday, a Sunday or a legal holiday at the place
where payment is to be made or notice is to

<PAGE>

be given or (b) a day on which banking institutions at the place where payment
is to be made or notice is to be given are authorized by law to remain closed,
then such payment or notice shall be made not later than the next preceding
business day which shall not be a day specified in (a) or (b) above.

          SECTION 15. Separability of Provisions. In case any one or more of
the provisions contained in this Agreement or in the Note should be invalid,
illegal or unenforceable in any respect, the validity, legality and
enforceability of the remaining provisions contained herein and therein shall
not in any way be affected or impaired thereby.

          SECTION 16. Counterparts. This Agreement may be executed in any
number of counterparts, each of which when so executed and delivered shall be
an original, and all such counterparts shall together constitute but one and
the same instrument.

          SECTION 17. Applicable Law. This Agreement shall be construed in
accordance with and governed by the laws of the State of Delaware.

<PAGE>

          IN WITNESS WHEREOF, each of the parties hereto has caused this
Agreement to be executed on its behalf by its President or one of its Vice
Presidents and its corporate seal to be hereto affixed and said seal and this
Agreement to be attested by its Secretary or one of its Assistant Secretaries,
all as of the day and year first above written.

                                        Rollins Truck Leasing Corp.

                                        BY:
                                           -------------------------------
                                           Patrick J. Bagley
                                           Title:

(CORPORATE SEAL)

Attest:

-----------------------------
Secretary

                                        Rollins Leasing Corp.

                                        BY:
                                           -------------------------------
                                        President
(CORPORATE SEAL)                                Title:

Attest:

-----------------------------
Secretary

<PAGE>

                                    ANNEX 1

                         7.77% DEMAND PROMISSORY NOTE

$85,000,000
                                                      Date:  December 15, 1999

          Rollins Leasing Corp., a corporation organized under the laws of
Delaware, for value received, HEREBY PROMISES TO PAY to Rollins Truck Leasing
Corp., a Delaware corporation, or order, upon demand, the principal sum of
Eighty Five Million Dollars ($85,000,000), either in one sum or in several
sums upon demand made from time to time (the receipt of any such sum to be
noted hereon), in every case in such coin or currency of the United States of
America as at the time of payment shall be legal tender for the payment of
public and private debts, at the corporate trust office of First Union
National Bank, in the City of Newark, New Jersey, AND TO PAY interest, at the
said office and in like coin or currency, on the unpaid portion of the said
principal sum from December 15. 1999, until the said principal sum shall have
been paid, such interest to be paid semiannually at the rate of 7.77% per
annum on the 15th day of June and December in each year commencing on the 15th
day of June, 2000 (calculated on the basis of a 360-day year of twelve 30-day
months). If any or all installments of said principal sum shall not be paid
when demanded, such overdue principal and, to the extent that payment of
interest on overdue interest is enforceable under applicable law, any overdue
installment of interest on this Demand Promissory Note, shall bear interest at
the rate of 9.77% per annum until paid.

          This Demand Promissory Note is the Demand Promissory Note referred
to in the Loan Agreement dated as of December 15, 1999, between Rollins Truck
Leasing Corp. and the maker hereof, and may be prepaid only as provided in
said Loan Agreement.

                                        Rollins Leasing Corp.

                                        BY:
                                            ------------------------------
                                            Title:

<PAGE>

          Pay to the order of First Union National Bank, as Trustee under the
Collateral Trust Indenture dated as of March 21, 1983, as supplemented and
amended by a Third Supplemental Indenture thereto dated as of February 20,
1986, by an Eighth Supplemental Indenture thereto dated as of May 15, 1990 and
by a Seventeenth Supplemental Indenture thereto dated as of March 10, 1997 and
as supplemented by a Twentieth Supplemental Indenture dated as of December 15,
19999, between Rollins Truck Leasing Corp. and said Trustee, as from time to
time further amended and supplemented.

                                        Rollins Truck Leasing Corp.

                                        BY:
                                           -------------------------------
                                           Title:

<PAGE>

                                                                     EXHIBIT B

==============================================================================

                         ROLLINS TRUCK LEASING CORP.,

                           FIRST UNION NATIONAL BANK

                                  as Trustee

                                      AND

                             ROLLINS LEASING CORP.

                         ASSIGNMENT OF LOAN AGREEMENT

                         Dated as of December 15, 1999

==============================================================================

<PAGE>

                         ASSIGNMENT OF LOAN AGREEMENT

          ASSIGNMENT OF LOAN AGREEMENT dated as of December 15, 1999, among
Rollins Truck Leasing Corp., a corporation organized under the laws of the
State of Delaware (herein called the "Corporation"), First Union National
Bank, as Trustee under the Indenture hereinafter referred to (herein called
the "Trustee"), and Rollins Leasing Corp., a corporation organized under the
laws of the State of Delaware (herein called the "Borrower").

          WHEREAS, the Trustee is Trustee under a Collateral Trust Indenture
dated as of March 21, 1983, (the "Original Indenture"; the Original Indenture,
as supplemented and amended by a Third Supplemental Indenture thereto dated as
of February 20, 1986, by an Eighth Supplemental Indenture thereto dated as of
May 15, 1990 and by a Seventeenth Supplemental Indenture thereto dated as of
March 10, 1997 and as supplemented by the Twentieth Supplemental Indenture
dated as of December 15, 1999, being herein called the "Indenture"), between
the Corporation and the Trustee under and pursuant to which there are being
and have been issued certain Collateral Trust Debentures of the Corporation
(herein called the "Debentures"); and

          WHEREAS, pursuant to a Loan Agreement (herein called the "Loan
Agreement") dated as of December 15, 1999, between the Corporation and the
Borrower, the Borrower has borrowed from the Corporation, and the Corporation
has loaned to the Borrower, the proceeds of the sale of the Debentures, which
is evidenced by a 7.77% Demand Promissory Note from the Borrower to the
Corporation in the principal amount of $85,000,000 (herein called the "Note");
and

          WHEREAS, in order to secure the payment of the principal of, and
premium, if any, and interest on, all Debentures at any time issued and
outstanding under the Indenture, as and to the extent provided in the
Indenture, and the performance and observance by the Corporation of all the
covenants and conditions in the Indenture and the Debentures contained on its
part to be observed and performed, the Corporation has endorsed, assigned and
delivered to the Trustee the Note and is required to assign to the Trustee the
Loan Agreement;

          NOW, THEREFORE, THIS ASSIGNMENT WITNESSETH:

          1. The Corporation hereby assigns to the Trustee all the right,
     title and interest of the Corporation in, to and under the Loan Agreement
     in order to secure the payment of the principal of, and premium, if any,
     and interest on, all Debentures at any time issued and outstanding under
     the Indenture, as and to the extent provided in the Indenture, and the
     performance and observance by the Corporation of all the covenants and
     conditions in the Indenture and the Debentures contained on its part to
     be observed and performed.

<PAGE>

          2. The Trustee will hold the Loan Agreement and the Note and the
     right, title and interest of the Corporation therein in accordance with,
     and subject to, the terms of the Indenture.

          3. The Borrower acknowledges notice of, and consents to, the
     assignment of the Loan Agreement and the Note and of the right, title and
     interest of the Corporation therein, all as provided in, and subject to
     the terms of, the Indenture and this Assignment.

          IN WITNESS WHEREOF, each of the parties hereto has caused this
Assignment to be executed on its behalf by its President or one of its Vice
Presidents or Assistant Vice Presidents and its corporate seal to be hereto
affixed and said seal and this Assignment to be attested by its Secretary or
one of its Assistant Secretaries or Assistant Vice Presidents, all as of the
day and year first above written.

                                        Rollins Truck Leasing Corp.

                                        BY:
                                           -------------------------------
                                           Patrick J. Bagley
                                         Title:

(CORPORATE SEAL)

Attest
      -----------------------
      Secretary

                                        FIRST UNION NATIONAL BANK,
                                        NATIONAL ASSOCIATION,
                                        as Trustee

                                        BY:
                                           -------------------------------
                                           Title:

(CORPORATE SEAL)

Attest
      -----------------------
      Title

<PAGE>

                                        Rollins Leasing Corp.

                                        BY:
                                           -------------------------------
                                        Title:

(CORPORATE SEAL)

Attest
      -----------------------
      Title

                                       3EXHIBIT 10.4

              AMENDMENT TO AND EXTENSION OF REIMBURSEMENT AGREEMENT

         This Amendment to and Extension of Reimbursement Agreement (the
"Amendment") is entered into as of the 28th day of February, 1999, between
SunTrust Bank, South Florida, National Association (formerly known as
SunBank/South Florida, National Association) (the "Bank") and HEICO Aerospace
Corporation (formerly known as HEICO Corporation) (the "Company"), a Florida
corporation, for the purpose of amending the SunBank Reimbursement Agreement
dated as of February 28, 1994, as heretofore amended, including, without
limitation, by an amendment dated as of March 1, 1995 (the "Agreement") between
the Bank and the Company as provided herein.

         WHEREAS, the Bank issued its Irrevocable Letter of Credit No. F4896
(now No. F070082) on February 28, 1994 (the "Letter of Credit") to secure the
payment of the $1,980,000 Broward County, Florida Industrial Development Revenue
Bonds (HEICO Corporation Project), Series 1988, which Letter of Credit currently
has an expiration date of February 28, 1999; and

         WHEREAS, the Company has requested that the Bank extend the stated
expiration date of the Letter of Credit to February 28, 2004, and that the Bank
agree to certain other modifications to the terms of the Agreement, and the Bank
is willing to grant such extension and to agree to such modifications to the
terms of the Agreement;

         NOW, THEREFORE, in consideration of the mutual agreements contained
herein, and other good and valuable consideration, including, without
limitation, the extension of the term of the Letter of Credit, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as
follows:

         SECTION 1. AMENDMENTS TO THE AGREEMENT. The Agreement is hereby amended
as follows:

         A. Section 2(c)(ix) of the Agreement is hereby amended in its entirety
to read as follows:

                           (ix) on each anniversary date of this Agreement (the
         "Anniversary Date"), a fee equal to 0.875% of the excess, if any, of
         the Stated Amount of the Letter of Credit over the balance in the Yield
         Restricted Account on the Anniversary Date;

         B. Section 6(y) of the Agreement is hereby amended in its entirety to
read as follows:

                  (y) Company and its Subsidiaries shall maintain a ratio of
         Total Funded Debt to Capitalization of less than 0.60:1.0. As used
         herein, the term "Total Funded Debt" shall mean and include, without
         duplication, the following obligations of the Company and any of its
         Subsidiaries: (i) any liability or

<PAGE>

         obligation for borrowed money that under generally accepted accounting
         principles is required to be shown on the balance sheet as a liability;
         (ii) indebtedness that is secured by any security interest on property
         owned by the Company or any Subsidiary (such as capitalized leases,
         asset securitization vehicles, conditional sales contracts and similar
         title retention arrangements), irrespective of whether or not the
         Indebtedness secured thereby shall have been assumed by the Company or
         such Subsidiary; (iii) guarantees, endorsements (other than
         endorsements of negotiable instruments for collection in the ordinary
         course of business), and other contingent liabilities, whether direct
         or indirect (such as by way of a letter of credit issued for the
         account of the Company or a Subsidiary) in connection with the
         obligations for borrowed money, stock or dividends of any person; (iv)
         obligations under any contract providing for the making of loans,
         advances or capital contributions to any person in order to enable such
         person primarily to maintain working capital, net worth, or any other
         balance sheet condition or to pay debts, dividends or expenses; and (v)
         obligations under any contract which, in economic effect, is
         substantially equivalent to a guarantee of loans, advances or capital
         contributions of another person, all as determined for the Company and
         its Subsidiaries on a consolidated basis, in accordance with generally
         accepted accounting principles applied on a consistent basis. The term
         "Capitalization" shall mean, as measured on a consolidated basis, Total
         Funded Debt plus Consolidated Net Worth, determined in accordance with
         generally accepted accounting principles, of the Company and its
         Subsidiaries, and the term "Consolidated Net Worth" shall mean the
         consolidated net worth of the Company and its Subsidiaries determined
         in accordance with generally accepted accounting principles applied on
         a consistent basis.

         C. Section 6(w) of the Agreement is hereby deleted in its entirety.

         D. Notwithstanding anything in the Agreement to the contrary, the term
of the Agreement is extended to the end of the term of the Letter of Credit and
the payment to the Bank of all amounts due it under the Agreement.

         SECTION 2. LIMITED SCOPE. Except as expressly amended hereby, all
provisions of the Agreement shall remain in full force and effect.

         SECTION 3. NO CLAIMS. AS A MATERIAL INDUCEMENT FOR THE BANK TO AMEND
THE AGREEMENT PURSUANT TO THIS AMENDMENT, THE COMPANY COVENANTS WITH AND
WARRANTS UNTO THE BANK, AND ITS AFFILIATES AND ASSIGNS, THAT THERE EXIST NO
CLAIMS, COUNTERCLAIMS, DEFENSES, OBJECTIONS, OFFSETS OR CLAIMS OF OFFSETS
AGAINST THE BANK RELATING IN ANY WAY TO THE INDENTURE, THE AGREEMENT OR OTHER
ASSOCIATED LOAN DOCUMENTS, THROUGH THE DATE HEREOF, OR THE OBLIGATION OF THE
COMPANY TO PAY OR PERFORM ALL OBLIGATIONS TO THE BANK EVIDENCED BY THE AGREEMENT
OR OTHERWISE.

         SECTION 4. WAIVER. AS A MATERIAL INDUCEMENT FOR THE BANK TO AMEND THE
AGREEMENT PURSUANT TO THIS AMENDMENT, THE COMPANY

                                       2
<PAGE>

DOES HEREBY RELEASE, WAIVE, DISCHARGE, COVENANT NOT TO SUE, ACQUIT, SATISFY AND
FOREVER DISCHARGE THE BANK, ITS OFFICERS, DIRECTORS, EMPLOYEES, ATTORNEYS AND
AGENTS AND ITS AFFILIATES AND ASSIGNS FROM ANY AND ALL LIABILITY, CLAIMS,
COUNTERCLAIMS, DEFENSES, ACTIONS, CAUSES OF ACTION, SUITS, CONTROVERSIES,
AGREEMENTS, PROMISES AND DEMANDS WHATSOEVER, IN LAW OR IN EQUITY, WHICH THE
COMPANY EVER HAD, NOW HAS OR WHICH ANY PERSONAL REPRESENTATIVE, SUCCESSOR, HEIR
OR ASSIGN OF THE COMPANY HEREAFTER CAN, SHALL OR MAY HAVE AGAINST THE BANK, ITS
OFFICERS, DIRECTORS, EMPLOYEES, ATTORNEYS AND AGENTS, AND ITS AFFILIATES AND
ASSIGNS, FOR, UPON OR BY REASON OF ANY MATTER, CAUSE OR THING WHATSOEVER
RELATING IN ANY WAY TO THE INDENTURE, THE AGREEMENT AND OTHER ASSOCIATED LOAN
DOCUMENTS, THROUGH THE DATE HEREOF. THE COMPANY FURTHER EXPRESSLY AGREES THAT
THE FOREGOING RELEASE AND WAIVER AGREEMENT IS INTENDED TO BE AS BROAD AND
INCLUSIVE AS IS PERMITTED BY THE LAWS OF THE STATE OF FLORIDA.

         SECTION 5. WAIVER OF TRIAL BY JURY. THE BANK AND THE COMPANY HEREBY
MUTUALLY, KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT EITHER MAY
HAVE TO A TRIAL BY JURY IN RESPECT TO ANY LITIGATION BASED HEREON OR ARISING OUT
OF, UNDER, OR IN CONNECTION WITH THE AGREEMENT AND ANY AGREEMENT CONTEMPLATED OR
TO BE EXECUTED IN CONJUNCTION THEREWITH, UNDER ANY ASSOCIATED LOAN DOCUMENTS, OR
ANY COURSE OF CONDUCT, COURSE OF DEALING STATEMENTS (WHETHER VERBAL OR WRITTEN),
OR ACTIONS OF ANY PARTY. THE COMPANY ACKNOWLEDGES THAT THE WAIVER OF JURY TRIAL
IS A MATERIAL INDUCEMENT TO THE BANK IN ACCEPTING THIS AMENDMENT, AND THAT THE
BANK WOULD NOT HAVE ACCEPTED THIS AMENDMENT WITHOUT THIS JURY TRIAL WAIVER. THE
COMPANY ACKNOWLEDGES THAT THE COMPANY HAS BEEN REPRESENTED BY AN ATTORNEY OR HAS
HAD AN OPPORTUNITY TO CONSULT WITH AN ATTORNEY REGARDING THIS JURY TRIAL WAIVER,
AND UNDERSTANDS THE LEGAL EFFECT OF THIS JURY TRIAL WAIVER. THE WAIVER CONTAINED
HEREIN IS IRREVOCABLE, CONSTITUTES A KNOWING AND VOLUNTARY WAIVER, AND SHALL BE
SUBJECT TO NO EXCEPTIONS. THE BANK HAS IN NO WAY AGREED WITH OR REPRESENTED TO
THE COMPANY OR ANY OTHER PARTY THAT THE PROVISIONS OF THIS JURY TRIAL WAIVER
WILL NOT BE FULLY ENFORCED IN ALL INSTANCES.

         SECTION 6. EFFECTIVE DATE. This Amendment shall take effect on February
28, 1999.

         SECTION 7. COUNTERPARTS. This Amendment may be executed in multiple
counterparts, all of which shall constitute one and the same instrument and each
of which shall be deemed to be an original.

         IN WITNESS WHEREOF, the Issuer and the Bank have executed this
Amendment by their respective duly authorized representatives, all as of the
date first written above.

                                       3
<PAGE>

                                        HEICO AEROSPACE CORPORATION
                                          (formerly known as HEICO
                                          Corporation)

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

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

                                        SUNTRUST BANK, SOUTH FLORIDA,
                                          NATIONAL ASSOCIATION (formerly
                                          known as SunBank/South Florida,
                                          National Association)

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

         By execution below, the following entities consent to the execution of
this Amendment to and Extension of Reimbursement Agreement and each agrees to
remain bound by its Guaranty (as defined in the Agreement).

JET AVION HEAT TREAT                        JET AVION CORPORATION
  CORPORATION

By:                                         By:
   ---------------------------                 ---------------------------
Its:                                        Its:

HEICO CORPORATION                           LPI INDUSTRIES CORPORATION

By:                                         By:
   ---------------------------                 ---------------------------
Its:                                        Its:

HEICO-NEWCO, INC.                           AIRCRAFT TECHNOLOGY, INC.

By:                                         By:
   ---------------------------                 ---------------------------
Its:                                        Its:

                                       4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00000-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00000-of-00352.parquet"}]]