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Exhibit 10.21    
    

METHODE ELECTRONICS, INC.
  

 CASH BONUS AGREEMENT  

        THIS AGREEMENT effective as of August 22, 2003 ("Agreement") is entered into by and between METHODE ELECTRONICS, INC., a Delaware corporation (the
"Company"), and Donald W. Duda ("Employee"). 

        WHEREAS,
Employee has served and continues to serve the Company as President of the Company; 

        WHEREAS,
Section 3 of the Methode Electronics, Inc. 2000 Stock Plan (the "Plan") limits the total number of shares of Company common stock with respect to which awards may
be granted under the Plan to a participant in any calendar year to 100,000 shares; 

        WHEREAS,
on May 4, 2001, the Company granted Employee a stock option award under the Plan with respect to 200,000 shares of Company common stock; 

        WHEREAS,
on June 10, 2002, the Company granted Employee a stock option award under the Plan with respect to 200,000 shares of Company common stock; 

        WHEREAS,
each of the two stock option awards described above is void to the extent that it attempted to grant a stock option with respect to more than 100,000 shares of Company common
stock; 

        WHEREAS,
on July 3, 2003, the Company granted Employee a stock option award under the Plan with respect to 100,000 shares of Company common stock, but would have granted him a
stock option award with respect to 250,000 shares but for the 100,000 share annual limitation referred to above; and 

        WHEREAS,
the Company desires to reward Employee for his services to the Company and to encourage him to continue to work for the benefit of the Company in a manner that will benefit all
Company shareholders and to compensate him for the stock option awards described above that exceeded or would have exceeded the Plan's 100,000 share annual limitation. 

        NOW,
THEREFORE, in consideration of the premises and the mutual covenants and obligations herein after set forth, the Company agrees to pay Employee certain deferred cash bonuses on the
terms and conditions set forth herein. 

        1.     The
Company will pay Employee as deferred compensation a cash bonus equal to (A—$10.50) × 100,000 × B,
where "A" is the value of a share of Class A Common Stock of the Company on the earliest to occur of a through d below and "B" equals 25% if the date of payment is prior to June 10,
2004, 50% if the date of payment is on or after June 10, 2004, but before June 10, 2005, 75% if the date of payment is on or after June 10, 2005, but before June 10, 2006
or 100% if the date of payment is on or after June 10, 2006. Notwithstanding anything herein to the contrary, "B" shall equal 100% anytime after a "Change in Control" of the Company. For
purposes of this Agreement, "Change in Control" and "Good Cause" shall have the same meanings as in the Employment Security Agreement between Employee and the Company, as in effect from time to time.
The cash bonus payment pursuant to this section shall be payable on the earliest of the following: 

        a.     a
date selected by Employee; provided, however, that Employee cannot elect a payment date with respect to any portion of the bonus under this Section 1 if any of
the stock options awarded him on June 10, 2002, with respect to 100,000 shares of Company common stock are vested but unexercised; 

        b.     the
date of Employee's termination of employment with the Company and all of its subsidiaries and affiliates for any reason other than Good Cause; 

        c.     Employee's
death or disability; or 

        d.     June 10,
2012. 

Employee
may elect to exercise all or any portion of his right to a payment under this section. If he elects to exercise his right to a portion of the bonus at any time, the remaining portion of the
bonus shall not be forfeited, 

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but
shall remain payable in the future subject to the terms and conditions of this Agreement. The following example shall illustrate the operation of this provision: 

Example: On January 1, 2004, the value of a share of Class A Common Stock of the Company is $15 and "B" is 25%. Employee elects on that
date to receive one-half of the maximum portion of his bonus payable under this section at that time. He will be paid $56,250
[($15.00—$10.50) × 100,000 × 25% × 1/2]. On January 1, 2006, the
value of a share of Class A Common Stock of the Company is $20 and "B" is 100%. Employee elects on that date to receive the remaining portion of his bonus under this section. He will be paid
$831,250 [($20.00—$10.50) × (100,000 - 12,500) × 100%]. 

Any
bonus payment under this section shall be paid within 30 days after it becomes payable. 

        2.     The
Company will pay Employee as additional deferred compensation another cash bonus equal to
(C—$11.44) × 150,000 × D, where "C" is the value of a share of Class A Common Stock of the Company on the earliest to occur of a
through d below and "D" equals 0% if the date of payment is prior to July 3, 2004, 25% if the date of payment is on or after July 3, 2004, but before July 3, 2005, 50% if the date
of payment is on or after July 3, 2005, but before July 3, 2006, 75% if the date of payment is on or after July 3, 2006, but before July 3, 2007, or 100% if the date of
payment is on or after July 3, 2007. Notwithstanding anything herein to the contrary, "D" shall equal 100% anytime after a "Change in Control" of the Company. The date of the cash bonus payment
pursuant to this section shall be payable on the earliest of the following: 

        a.     a
date selected by Employee; provided, however, that Employee cannot elect a payment date with respect to any portion of the bonus under this Section 2 if any of
the stock options awarded him on July 3, 2003, with respect to 100,000 shares of Company common stock are vested but unexercised; 

        b.     the
date of Employee's termination of employment with the Company and all of its subsidiaries and affiliates for any reason other than Good Cause; 

        c.     Employee's
death or disability; or 

        d.     July 3,
2013. 

Employee
may elect to exercise all or any portion of his right to a payment under this section. If he elects to exercise his right to a portion of the bonus at any time, the remaining portion of the
bonus shall not be forfeited, but shall remain payable in the future subject to the terms and conditions of this Agreement. 

Any
bonus payment under this section shall be paid within 30 days after it becomes payable. 

        3.     The
Company will also pay Employee as additional deferred compensation a supplemental cash bonus in the event of a Change in Control of the Company prior to May 4,
2004, if Employee is an employee of the Company immediately prior to the Change in Control. The amount of the supplemental bonus pursuant to this Section shall be equal to
(E—$6.35) × 100,000, where "E" is the value of a share of Class A Common Stock of the Company on the date of the Change in Control. The Company shall pay
the supplemental bonus pursuant to this section within 30 days after a Change in Control. 

        4.     Nothing
herein contained shall confer on Employee any right with respect to continuation of employment by the Company or its subsidiaries or affiliates, or interfere with
the right of the Company or its subsidiaries or affiliates to terminate at any time the employment of Employee. 

        5.     The
bonuses payable under this Agreement shall be forfeited in the event Employee's employment with Company is terminated for Good Cause. 

        6.     This
Agreement may not be assigned by the Company without the written consent of Employee but the obligations of the Company under this Agreement shall be the binding
legal obligations of any successor to the Company by merger or other business combination, and in the event of any business combination or transaction that results in the transfer of substantially all
of the assets or business of the Company, the Company will cause the transferee to assume the obligations of the Company under this Agreement. Neither this Agreement nor the bonuses hereunder may be
assigned by Employee during Employee's life, and any payment arising as the result of Employee's death shall be paid to one or more beneficiaries designated by Employee in a form approved by the
Company, or in the absence of any such designation, to Employee's estate. 

        7.     The
validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Illinois, without regard to the conflict of law
principles thereof. 

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        8.     The
Company may withhold from any payment that it is required to make under this Agreement amounts sufficient to satisfy applicable withholding requirements under any
federal, state or local law. 

        9.     This
Agreement may be amended at any time by written agreement between the Company and Employee. Any such amendment shall be made pursuant to a resolution of the
Compensation Committee of the Company's Board of Directors. 

        10.   Cash
payments under this Agreement shall constitute general obligations of the Company. Employee shall have only an unsecured right to payment thereof out of the general
assets of the Company. 

        11.   In
the event that any provision or portion of this Agreement shall be determined to be invalid or unenforceable for any reason, the remaining provisions of this
Agreement shall be unaffected thereby and shall remain in full force and effect. 

        12.   The
parties initially shall attempt to resolve by direct negotiation any dispute, controversy or claim arising out of or relating to this Agreement or its breach or
interpretation (each, a "Dispute"). For purposes of this negotiation, the Company shall be represented by one or more of its Class A Directors appointed by the Board of Directors so long as the
Company has more than one class of Common Stock. If the parties are unable to resolve the Dispute by direct negotiation within 30 days after written notice by one party to the other of the
Dispute, either party may initiate a confidential, binding arbitration to resolve the Dispute. All such Disputes shall be arbitrated in Chicago, Illinois pursuant to the arbitration rules of J.A.M.S.
Endispute before a single arbitrator. (If, at the time of any Dispute, J.A.M.S. Endispute has ceased to exist, all such Disputes shall be arbitrated in Chicago, Illinois pursuant to the arbitration
rules of the American Arbitration Association before a single arbitrator.) Judgment upon any award rendered by the arbitrator may be entered in any court having jurisdiction, and both parties consent
and submit to the jurisdiction of such court for purposes of such action. Nothing in this Agreement shall preclude either party from seeking equitable relief from a court of competent jurisdiction.
The statute of limitations, estoppel, waiver, laches and similar doctrines, which would otherwise be applicable in any action brought by a party shall be applicable in any arbitration proceeding, and
the commencement of an arbitration proceeding shall be deemed the commencement of an action for those purposes. The Federal Arbitration Act shall apply to the construction, interpretation and
enforcement of this arbitration provision. 

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

        14.   This
Agreement supersedes and cancels all prior written or oral agreements and understandings relating to the terms of this Agreement. 

	

EMPLOYEE	
 	

METHODE ELECTRONICS, INC.
	

/s/ Donald W. Duda
	
 	

By /s/ Warren L. Batts

	

 	
 	

Its: Compensation Committee Chairman

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Exhibit 10.21<Page>

                                                                Exhibit 10(o)

             NON-QUALIFIED SUPPLEMENTAL RETIREMENT BENEFIT AGREEMENT

     THIS AGREEMENT, made and entered into as of this 1st day of January,
1997, by and between Computer Horizons Corp., a Pennsylvania corporation
(hereinafter called the "Company"), and William J. Murphy, an individual
employee of the Company (hereinafter called the "Participating Employee").

                          W I T N E S S E T H:

     WHEREAS, the Participating Employee is currently performing valuable
services for the Company in the capacity of Chief Financial Officer and
Executive Vice President; and

     WHEREAS, the Board desires to encourage the Participating Employee to
continue in the employ of the Company and to continue the performance of his
duties of employment in a capable and efficient manner; and

     WHEREAS, the Participating Employee is willing to continue in the employ
of the Company and to continue the capable and efficient performance of his
employment duties; and

     WHEREAS, the Participating Employee is considered by the Company to be a
highly compensated employee or member of a select management group of the
Company.

     NOW, THEREFORE, in consideration of the premises hereof, the Company and
the Participating Employee agree as follows:

1.   RETIREMENT BENEFIT. Subject to the terms and conditions specified in
this Agreement, the Company hereby agrees that if the Participating Employee
remains continuously employed by the Company from the date hereof until he
attains age 65, the Company will pay to the Participating Employee a lump sum
amount of $1,000,000 as soon as practicable following his Normal Retirement
Date (as defined in Paragraph 2 below). Notwithstanding the foregoing, any
Participating Employee who has attained the age of 55 at the time he executes
this Agreement and remains continuously employed until he attains age 65
shall, subject to the terms and conditions of this Agreement, receive a lump
sum amount of $250,000 as soon as practicable following his Normal Retirement
Date.

     In lieu of receiving payment in a lump sum, the Participating Employee
may elect, at the time he executes the Agreement or at any other time which
is more than 24 months prior to attaining age 65, to elect to receive annual
installments of his Retirement Benefits payable over 10 years. The first
installment to be paid on the Participating Employee's Normal Retirement Date
will

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be equal to 1/10 of the lump sum with subsequent annual payments of 1/9, 1/8,
1/7,1/6, 1/5, 1/4, 1/3, 1/2, 1/1, of the remaining balance.

     IF THE PARTICIPATING EMPLOYEE DIES AFTER REACHING THE AGE OF SIXTY-FIVE
(65) but prior to receiving a lump sum or all of the installment payments due
hereunder, the lump sum or remaining installment payments otherwise due,
shall be made to the Participating Employee's Beneficiary(ies) in accordance
with the provisions of this Agreement. Upon payment to the Participating
Employee and/or his Beneficiary(ies) of the lump sum or a total amount equal
to 10 annual payments, no further benefits shall be due under this Agreement.

     2. NORMAL RETIREMENT DATE. The Participating Employee and the Company
agree that, except with respect to the Participating Employee's retirement
due to disability, as defined in Paragraph 3 of this Agreement, the
Participating Employee shall retire from the Company on the day of the month
in which the Participating Employee attains sixty-five (65) years of age to
the extent such termination of employment is permitted as a stated exception
from applicable federal and state age discrimination laws based on position
and retirement benefits. Such date shall, for purposes of this Agreement, be
the Participating Employee's "Normal Retirement Date." However,
notwithstanding the foregoing, the Participating Employee may continue his
employment with the Company beyond his sixty-fifth birthday to any later date
agreed to by the Company and the Participating Employee. In such event, the
Participating Employee's Normal Retirement Date for purposes of this
Agreement shall be the day of the month in which the Participating Employee
actually retires from employment after attaining the age of 65. For purposes
of this Agreement only, should the Participating Employee die or become
permanently disabled after attaining sixty-five (65) years of age, but prior
to such extended "Normal Retirement Date," then the Participating Employee's
"Normal Retirement Date" shall be deemed to be the day of the month in which
such death or disability occurs.

     3. RETIREMENT DUE TO TOTAL AND PERMANENT DISABILITY. Subject to the
terms and conditions of this Agreement, the Company hereby agrees that if the
Participating Employee retires from continuous employment with the Company
prior to age 65 due to his total and permanent disability as defined in this
Paragraph, the Participating Employee shall be deemed to have continued
employment with the Company only for purposes of this Agreement until age 65
and the Participating Employee will be entitled to the Retirement Benefits
set forth in Paragraph 1 of this Agreement.

     For purposes of this Agreement, "total and permanent disability," or any
words or phrase of similar effect, means any medically determinable physical
or mental disorder which renders the Participating Employee incapable of
continuing in the employ of the Company in the position he was employed on
the date he incurred the disability. An employee shall be considered totally
and permanently disabled and unable to continue in the employ of the Company
upon a good faith determination by the Board that he is totally and
permanently disabled based on the medical evidence as the Board may, in its
sole discretion, require to make such determination.

<Page>

     4. ACCRUAL AND VESTING OF RETIREMENT BENEFITS. The Participating
Employee will accrue and be vested in the Retirement Benefits specified in
Paragraph 1 hereof on a straight line basis over the Participating Employee's
total years of service with the Company until and including the year in which
the Participating Employee attains age 65. A year is defined to include any
portion of a particular year.

     If the Participating Employee terminates employment before age 65, other
than due to death or total and permanent disability, the amount of the
Participating Employee's vested accrued benefit at the time of such
termination will be deferred and shall be paid as soon as practicable after
the Participating Employee attains the age of 65.

     5. PRE-RETIREMENT DEATH BENEFIT

     (a) Should the Participating Employee die after a termination of
     employment with a vested deferred accrued benefit prior to age 65, the
     amount of such benefit shall be paid in a lump sum to the deceased's
     designated Beneficiary(ies) as soon as practicable after the date of
     the Participating Employee's death. Notwithstanding the foregoing, if
     the amount of such vested deferred accrued benefit is less than
     $500,000, the Company agrees to make an additional payment so that the
     total benefit is equal to $500,000.

     (b) Should the Participating Employee die prior to age 65 during
     employment with the Company, an amount equal to the greater of $500,000
     or the Participating Employee's vested accrued benefit shall be paid in
     a lump sum to the deceased's designated Beneficiary(ies) as soon as
     practicable after the date of the Participating Employee's death.

     (c) Notwithstanding the provision for payment of a lump sum death
     benefit in (a) and (b) above, the Company may, in its sole discretion,
     elect to pay out the amount of a lump sum death benefit over 10 years
     commencing on the Participating Employee's date of death, i.e., 1/10 of
     the lump sum payment in the first year, 1/9 of the remaining balance in
     the second year, 1/8 of the remaining balance in the third year, and
     so on until the entire remaining balance is payable in the tenth year.
     The Participating Employee or any Beneficiary(ies) will be bound by the
     Company's decision.

     If the Participating Employee becomes totally and permanently disabled,
as defined herein, while continuously employed or deemed to be continuously
employed by the Company and prior to age 65, the death of such Participating
Employee while continuously disabled and prior to age 65 shall be regarded as
a death during continuous employment.

     6. BENEFICIARY(IES). The Participating Employee's Beneficiary(ies) under
this Agreement shall be as designated by the Participating Employee on
Schedule "A", attached hereto and made a part of this Agreement. The
Participating Employee may change his designated

                                       3

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Beneficiary(ies) by filing written notice of such change with the Company
which shall be attached to this Agreement as a revised Schedule "A". If the
Participating Employee does not designate a Beneficiary on Schedule "A", or
if all (or any) of the designated Beneficiary(ies) should die prior to
payment of all benefits due hereunder, then the Participating Employee's
Beneficiary hereunder with regard to such amount shall be his surviving
spouse, if any. If there is not a surviving spouse or if the surviving spouse
should die prior to payment of all benefits due hereunder, then the
applicable amount of the Participating Employee's remaining benefit shall be
paid in a lump sum to the Participating Employee's personal representative,
to be administered as part of the Participating Employee's estate.

     7. NATURE OF EMPLOYER'S OBLIGATION. The Company's sole obligation under
this Agreement shall be an unfunded and unsecured promise to pay the benefits
in accordance with and subject to the terms and conditions hereof. The
Company shall not be obligated under any circumstances to fund its
obligations under this Agreement. Any assets which the Company may acquire to
help satisfy or discharge its obligation are general assets of the Company
subject to the claims of its creditors. Neither the Company nor the benefit
created by this Agreement gives, nor does the Participating Employee receive,
any beneficial ownership interest in any asset of the Company, and all rights
of ownership in any such assets shall remain in the Company.

     8. NON-SECURED PROMISE. The rights of the Participating Employee and any
designated Beneficiary(ies) of the Participating Employee, or any other
person claiming through the Participating Employee under this Agreement,
shall be solely those of an unsecured general creditor of the Company. The
Participating Employee and/or the designated Beneficiary(ies) of the
Participating Employee shall have the right to receive payments specified
under this Agreement only from the Company and shall have no right to any
specific assets of the Company, or any specific or special property separate
from the Company, to satisfy or discharge any claim for benefits.

     Any assets used or acquired by the Company in connection with its
obligations under this Agreement shall not be deemed held under any trust for
the benefit of the Participating Employee or his designated Beneficiary(ies),
nor shall any such assets be considered security for the performance of the
obligations of the Company. Nothing contained in this Agreement and no action
taken pursuant to the provisions of the Agreement shall create or be
construed to create a fiduciary relationship between the Company, the
Participating Employee, his Beneficiary(ies) or any other person.

     The Participating Employee also agrees that his participation in the
acquisition of any such assets for the Company shall not constitute a
representation to the Participating Employee, his designated
Beneficiary(ies), or any person claiming through the Participating Employee,
that any of them has a special or beneficial interest in such assets.

     9. INDEPENDENCE OF BENEFITS. The benefits payable under this Agreement
shall be independent of, and in addition to, any other benefits or
compensation, whether by salary, bonus, or otherwise, payable under any other
agreements that now exist, to the extent not revoked or superseded.
Notwithstanding the foregoing, any amounts accrued hereunder shall not be
included

                                       4

<Page>

in creditable compensation in computing benefits under any employee benefit
plan of the Company except to the extent expressly provided for therein. This
Agreement shall not be deemed to constitute a contract of employment between
the parties, nor shall any provision restrict the right of the Company to
discharge the Participating Employee, with or without cause, or restrict the
right of the Participating Employee to terminate his employment with the
Company.

     10. ASSIGNMENT. Neither the Participating Employee nor his
Beneficiary(ies) shall have the right to commute, sell, assign, transfer, or
otherwise convey the right to receive any payments hereunder, which payments
and the rights thereto are declared to be non-assignable and
non-transferable. The Agreement shall be binding upon and inure to the
benefit of the Company, it successors and assigns and the Participating
Employee, his heirs, executors, administrators and legal representatives. In
the event that the Company sells all or substantially all of the assets of
its business and the acquiror of such assets assumes the obligations
hereunder, the Company shall be released from any liability imposed hereunder
and shall have no obligation to pay or provide any benefits payable hereunder.

     11. ACCELERATION OF PAYMENTS. The Company reserves the right, in its
sole and absolute discretion, to accelerate the payment of any benefits
payable under this Agreement without the consent of the Participating
Employee, his estate, his designated recipients, or any other person claiming
through the Participating Employee.

     12. CLAIMS PROCEDURE.

     a. Claim.

     A person who believes that he is being denied a benefit to which he is
     entitled under the Agreement (hereinafter referred to as a "Claimant")
     may file a written request for such benefit with the Board setting forth
     his claim. The request must be addressed to the President of the Company
     at the Company's then principal place of business.

     b. Claim Decision.

     Upon receipt of a claim, the Board shall advise the Claimant that a
     reply will be forthcoming within ninety (90) days and shall, in fact,
     deliver such reply within such period. The Company may, however, extend
     the reply period for an additional ninety (90) days (if the Claimant is
     so notified, including notification of the reason for delay) for
     reasonable cause.

     If the claim is denied in whole or in part, the Board shall adopt a
     written opinion, using language calculated to be understood by the
     Claimant, setting forth:

     (a) The specific reason or reasons for such denial;

                                       5

<Page>

     (b) The specific reference to pertinent provisions of the Agreement on
     which such denial is based;

     (c) A description of any additional material or information necessary
     for the Claimant to perfect his claim and an explanation why such
     material or such information is necessary;

     (d) Appropriate information as to the steps to be taken if the Claimant
     wishes to submit the claim for review; and

     (e) The time limits for requesting a review under subparagraph (c.) and
     for review under subparagraph (d.) hereof.

c.   Request for Review.

     Within sixty (60) days after the receipt by the Claimant of the written
     opinion described above, the Claimant may request in writing that the
     Secretary of the Company review the determination of the Board. Such
     request must be addressed to the Secretary of the Company, at its then
     principal place of business. The Claimant or his duly authorized
     representative may, but need not, review the pertinent documents. and
     submit issues and comments in writing. If the Claimant does not request
     a review of the Board's determination by the Secretary of the Company
     within such sixty (60) day period, he shall be barred and estopped from
     challenging the Board's determination.

d.   Review of Decision.

     Within sixty (60) days after the Secretary's receipt of a request for
     review, he will review the Board's determination. After considering all
     materials presented by the Claimant, the Secretary will render a written
     opinion, written in a manner calculated to be understood by the
     Claimant, setting forth the specific reasons for the decision and
     containing specific references to the pertinent provisions of this
     Agreement on which the decision is based. If special circumstances
     require that the sixty (60) day time period be extended, the Secretary
     will so notify the Claimant and will render the decision as soon as
     possible, but no later than one hundred twenty (120) days after receipt
     of the request for review.

e.   The Board may at any time alter the claims procedure set forth above, so
     long as the revised claims procedure complies with the Employee
     Retirement Income Security Act of 1974, as amended, and the regulations
     issued thereunder.

f.   The Board and the Secretary of the Company shall have the full power and
     authority to interpret, construe and administer the Agreement in their
     sole discretion based on the provisions of the Agreement. Both the
     Board's and the Secretary's interpretations

                                       6

<Page>

     and construction thereof, and actions thereunder, including, without
     limitation, any determination under this Paragraph 12, shall be final,
     conclusive and binding on all persons for all persons. No member of the
     Board or any employee of the Company shall be liable to any person for
     any action taken or omitted in connection with the interpretation and
     administration of this Agreement.

     13. AMENDMENT OF AGREEMENT. This Agreement may be amended in whole or in
part by written agreement between the Company and the Participating Employee;
provided, that the claims procedure set forth in Paragraph 12 may be altered
by the Board in accordance with subparagraph 12(f.).

     14. TERMINATION OF AGREEMENT. This Agreement and the rights of the
Participating Employee and the obligations of the Company hereunder may be
terminated at any time by the Board (or a duly authorized committee thereof)
without the consent of the Participating Employee, and with written notice of
such termination given to the Participating Employee. Upon such termination,
neither the Participating Employee nor his Beneficiary(ies) shall have any
rights against the Company to any benefit or rights hereunder and the
Company's obligations shall be null and void; provided, however, that the
preceding provision shall not permit the Company to terminate its obligation
to pay any benefits otherwise accrued and vested at the time of such
termination.

     15. SEVERABILITY. In case any provision of this Agreement shall be
illegal or invalid for any reason, said illegality or invalidity shall not
affect the remaining parts hereof, but this Agreement shall be construed and
enforced as if such illegal and invalid provision never existed.

     16. WITHHOLDING. The Company shall have the right to make such
provisions as it deems necessary or appropriate to satisfy any obligations it
may have to withhold federal, state or local income or other taxes incurred
by reason of payments pursuant to this Agreement. Amounts payable hereunder
shall also be subject to payroll taxes as required by applicable law.

     17. MINORS AND INCOMPETENTS. If the Board shall find that any person to
whom payment is payable under this Agreement is unable to care for his
affairs because of illness or accident, or is a minor, any payment due
(unless a prior claim therefore shall have been made by a duly appointed
guardian, committee or other legal representative) may be paid to the spouse,
a child, parent, or brother or sister, or to any person deemed by the Board
to have incurred expense for such person otherwise entitled to payment, in
such manner and proportions as the Board may determine. Any such payment
shall be a complete discharge of the liabilities of the Company under this
Agreement.

     18. PARAGRAPH HEADINGS. The paragraph headings in this Agreement are for
convenience of reference only and shall not be considered in construing this
Agreement.

     19. GOVERNING LAW. This Agreement was made and entered into in the State
of New Jersey, and, to the extent not governed by ERISA, the laws of said
State shall govern the construction of this Agreement and the rights and
liabilities of the parties hereto.

                                       7

<Page>

     IN WITNESS WHEREOF, the Company has caused this Agreement to be
executed, sealed and attested on its behalf by its duly authorized officers,
and the Participating Employee has hereunto set his hand and seal as of the
day and year first above written.

                                       COMPUTER HORIZONS CORP.

ATTEST:                                BY:  /s/ John J. Cassese
        -----------------------             ----------------------
        Name:                               Name: John J. Cassese
                                            Title:  President

                                       WILLIAM J. MURPHY

                                       /s/ WILLIAM J. MURPHY
                                       -------------------------

                                       8

<Page>

                                 SCHEDULE "A"

                   DESIGNATION OF DEATH BENEFIT BENEFICIARY(IES)

     I, William J. Murphy, request that the Company mark its records to
reflect JOANN M. MURPHY as the beneficiary(ies) of the Death Benefits payable
under Paragraphs 1 and 5 of the Agreement dated January 30, 1997, and to make
payment of this benefit, divided in equal amounts, to the designated
beneficiary(ies) as provided under the terms of the Agreement. The named
beneficiary(ies) shall remain entitled to benefits under the Agreement until
such time as you receive a new Designation of Death Benefit Beneficiary(ies)
from me changing such designation. In the event that I do not designate a
beneficiary(ies), or if all of the designated beneficiary(ies) should
predecease me, or die prior to the payment of all benefits due hereunder,
then the Beneficiary(ies) shall be my spouse, or if there is no surviving
spouse, my estate.

January 30, 1997                       /s/ WILLIAM J. MURPHY
                                       -----------------------
                                       William J. Murphy

     THE WITHIN BENEFICIARY DESIGNATION was received by the Company this 30th
day of January, 1997.

                                       COMPUTER HORIZONS CORP.

                                       BY:  /s/ John J. Cassese
                                            ---------------------
                                            Name: John J. Cassese
                                            Title:  President

                                       9

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