Document:

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                                                                  Exhibit 10.18

                              EMPLOYMENT AGREEMENT

         THIS AGREEMENT (the "Agreement"), made and entered into this 4th day
of October, 2000 (the "Effective Date"), by and among Thomas A. Scrimo (the
"Executive"), United States Can Company, having its principal offices at 900
Commerce Drive, Oak Brook, Illinois 60523 (the "Company"), and U.S. Can
Corporation, a Delaware corporation, having its principal offices at 900
Commerce Drive, Oak Brook, Illinois 60523 ("U.S. Can");

                                WITNESSETH THAT:

         WHEREAS, the parties desire to enter into this Agreement concerning the
terms of continued employment of the Executive by the Company;

         WHEREAS, the Executive, the Company, and U.S. Can have entered into an
employment agreement dated January 24, 2000 (the "Prior Employment Agreement"),
and the Executive, the Company, and U.S. Can have entered into a change in
control agreement dated January 24, 2000 (the "Prior Change in Control
Agreement"), and the parties have agreed that, effective as of the Effective
Date, this Agreement shall govern the terms of the Executive's employment with
the Company, and the Prior Employment Agreement and the Prior Change in Control
Agreement shall both terminate and be of no further effect;

         WHEREAS, the Executive and the Company have entered into an agreement
dated January 24, 2000, relating to certain protections as to competition,
confidentiality, inventions, and certain other matters (the "Employee
Agreement"), which the parties have agreed to continue in effect, subject to
certain modifications set forth in this Agreement;

         NOW, THEREFORE, in consideration of the premises and mutual covenants
set forth herein, IT IS HEREBY COVENANTED AND AGREED by the Executive, the
Company, and U.S. Can as follows:

         1. DEFINITIONS. Terms used in this Agreement shall be defined as set
forth below:

(a)      For purposes of this Agreement, the term "Affiliate" shall mean the
         Company and any of its "affiliates" as that term is defined in the
         Securities Exchange Act of 1934, as amended.

(b)      The term "Agreement Term" shall have the meaning ascribed to it in
         paragraph 2(f).

(c)      The Executive shall be considered "Disabled" during any period in which
         he has a physical or mental disability which renders him incapable,
         after reasonable accommodation, of performing his duties under this
         Agreement. The Executive shall be

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         considered "Permanently Disabled" during any period in which (i) he has
         a physical or mental disability which renders him incapable, after
         reasonable accommodation, of performing his duties under this
         Agreement; (ii) such disability is determined by the Executive's
         Supervisor to be of a long-term nature; and (iii) the Executive is
         eligible for income replacement benefits under the Company's long-term
         disability plan during such period of disability. In the event of a
         dispute as to whether the Executive is Disabled or Permanently
         Disabled, the Company may refer the same to a licensed practicing
         physician of the Company's choice, and the Executive agrees to submit
         to such tests and examinations as such physician shall deem
         appropriate.

(d)      The term "Cause" shall have the meaning ascribed to it in paragraph
         4(c).

(e)      "Date of Termination" means the Executive's last day worked for the
         Company, excluding any salary continuation period, provided that the
         Executive's employment is terminated in accordance with the provisions
         of paragraph 4.

(f)      The term "Good Reason" shall have the meaning ascribed to it in
         paragraph 4(d).

(g)      The Executive's "Supervisor" shall be the person to whom the Executive
         reports.

(h)      "U.S. Can Stock" is common stock of U.S. Can or a successor to U.S.
         Can.

         2. PERFORMANCE OF SERVICES. The Executive's employment with the Company
shall be subject to the following:

(a)      Subject to the terms of this Agreement, the Company hereby agrees to
         employ the Executive during the Agreement Term, and the Executive
         hereby agrees to remain in the employ of the Company during the
         Agreement Term.

(b)      During the Agreement Term, while the Executive is employed by the
         Company, the Executive shall devote his full time, energies and talents
         to serving as its Senior Vice President and General Manager, Aerosol,
         or in such other position to which the Executive may be appointed by
         the Executive's Supervisor from time to time; provided that in no event
         shall the Executive be appointed to a position having a rank of less
         than Senior Vice President and General Manager. To the extent the
         Company determines to be necessary or appropriate, the Company may
         change the Executive's Supervisor, and the Executive's reporting
         relationships.

(c)      The Executive agrees that he shall perform his duties faithfully and
         efficiently subject to the directions of the Executive's Supervisor.
         The Executive's duties may include providing services for both the
         Company and the Affiliates, as determined by the Executive's
         Supervisor; provided that the Executive shall not, without his consent,
         be assigned duties that would be inconsistent with those of a Senior
         Vice President and

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         General Manager. The Executive shall have such authority, power,
         responsibilities and duties as are inherent in his position(s) (and the
         undertakings applicable to his position(s)) and necessary to carry out
         his responsibilities and the duties required of him hereunder.

(d)      Notwithstanding the foregoing provisions of this paragraph 2, during
         the Agreement Term, the Executive may devote reasonable time to
         activities other than those required under this Agreement, including
         the supervision of his personal investments, and activities involving
         professional, charitable, community, educational, religious and similar
         types of organizations, speaking engagements, and similar types of
         activities, to the extent that such other activities do not, in the
         judgment of his Supervisor, inhibit or prohibit the performance of the
         Executive's duties under this Agreement, or conflict in any material
         way with the business of the Company or any Affiliate. The Executive
         shall not serve on the board of any business, or hold any other
         significant position with any business, without the consent of his
         Supervisor.

(e)      Subject to the terms of this Agreement, the Executive shall not be
         required to perform services under this Agreement during any period
         that he is Disabled. During the period in which the Executive is
         Disabled, the Company may appoint a temporary replacement to assume the
         Executive's responsibilities.

(f)      The "Agreement Term" shall begin with the commencement of the Initial
         Term and shall end at the conclusion of all Renewal Periods. The
         "Initial Term" shall be the period beginning on the Effective Date and
         ending on the second anniversary of the Effective Date. Thereafter, the
         Agreement Term will be automatically extended for 12-month periods (a
         "Renewal Period"), unless one party to this Agreement provides notice
         of non- renewal to the other at least 90 days before the last day of
         the Initial Term or any subsequent Renewal Period.

         3. COMPENSATION. Subject to the terms of this Agreement, during the
Agreement Term, while the Executive is employed by the Company, the Company
shall compensate him for his services as follows:

(a)      SALARY. The Executive shall receive, for each twelve (12) consecutive
         month period beginning on the Effective Date and each anniversary
         thereof, in substantially equal monthly or more frequent installments,
         an annual base salary of not less than $220,000 (the "Salary"). The
         Executive's Salary rate shall be reviewed annually by the Supervisor.
         In no event shall the Salary rate of the Executive be reduced to an
         amount that is less than the amount specified in this paragraph (a).

(b)      INCENTIVE COMPENSATION. The Executive shall participate in the
         Company's Management Incentive Plan ("MIP") on terms that are
         comparable to the terms applicable to the Company's other senior
         executives from time to time; provided that, for each performance
         period under the Company's MIP in which any portion of the Agreement
         Term occurs, the

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         Executive shall be provided with an opportunity for an incentive
         payment of at least 50% of the Executive's annual Salary rate (with
         such Salary rate determined as provided in the MIP). For the
         performance period in which the Executive's termination of employment
         occurs, the Executive's eligibility for an incentive compensation award
         shall be subject to the provisions of paragraph 5 of this Agreement.

(c)      LIFE INSURANCE. The Company shall obtain life insurance coverage on the
         Executive's life that is no less favorable than the coverage provided
         immediately prior to the Effective Date provided, however, that such
         life insurance shall at least provide term coverage with death benefits
         equal to two times the Executive's base salary. The life insurance
         coverage shall be subject to the Executive's satisfactory completion of
         a physical examination and other aspects of the application process.
         Death benefits under such coverage shall be payable to the beneficiary
         named by the Executive. During the period of the Executive's employment
         with the Company, the Company shall pay the premiums with respect to
         such policy.

(d)      DISABILITY INCOME. The Executive shall receive from the Company
         disability income replacement coverage which will provide for
         replacement of income according to the Company's plans and arrangements
         in effect at the time of the disability during any period in which the
         Executive is Disabled if the disability arose during the Agreement Term
         and prior to the Executive's Date of Termination. During any period
         while the Executive is Disabled and is otherwise entitled to receive
         Salary and other amounts under this Agreement (including payment in
         lieu of Salary or other amounts pursuant to paragraph 5(b) or 5(c)),
         any such Salary and other amounts (or such payments in lieu of Salary
         and other amounts) to the Executive shall be reduced by the amount of
         any benefits paid for the same period of time under the
         Company-provided disability income replacement coverage.

(e)      EXPENSES. Subject to the Company's rules and procedures as in effect
         from time to time, the Executive is authorized to incur reasonable
         expenses for entertainment, traveling, meals, lodging and similar items
         in the course of his employment. The Company will reimburse the
         Executive for all reasonable expenses so incurred in accordance with
         the Company's policies.

(f)      VACATION AND HOLIDAYS. During each year of the Agreement Term, the
         Executive shall be entitled to four weeks of paid vacation plus the
         paid holidays observed by the Company.

(g)      CAR ALLOWANCE. During the Agreement Term, the Executive shall be
         entitled to a net after-tax car allowance of $900 per month.

(h)      BENEFITS. Except as otherwise specifically provided to the contrary in
         this Agreement, the Executive shall be provided with the health,
         welfare, retirement and other fringe benefits to the same extent and on
         substantially the same terms as those benefits are provided by

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         the Company from time to time to the Company's other senior management
         employees. However, the Company shall not be required to provide a
         benefit under this paragraph (h) if such benefit would duplicate (or
         otherwise be of the same type as) a benefit specifically required to be
         provided under another provision of this Agreement. The Executive shall
         complete all forms and physical examinations, and otherwise take all
         other similar actions to secure coverage and benefits described in this
         paragraph 3, to the extent reasonably determined to be necessary or
         appropriate by the Company.

         4. TERMINATION. The Executive's employment with the Company during the
Agreement Term may be terminated by the Company or the Executive without any
breach of this Agreement only under the circumstances described in paragraphs
4(a) through 4(f):

(a)      DEATH. The Executive's employment hereunder will terminate upon his
         death.

(b)      PERMANENT DISABILITY. The Company may terminate the Executive's
         employment during any period in which he is Permanently Disabled. In
         the event of a dispute as to whether the Executive is Permanently
         Disabled, the Company may refer the same to a licensed practicing
         physician of the Company's choice, and the Executive agrees to submit
         to such tests and examinations as such physician shall deem
         appropriate.

(c)      CAUSE. The Company may terminate the Executive's employment hereunder
         at any time for Cause. For purposes of this Agreement, the term "Cause"
         shall that any one or more of the following has occurred:

         (i)      the Executive shall have committed a felony;

         (ii)     the Executive shall have breached in any material respect any
                  non-competition provisions of any written agreement between
                  the Executive and the Company or any of its Affiliates;

         (iii)    the Executive shall have openly disregarded his
                  responsibilities to the Company and/or its Affiliates (other
                  than due to being Disabled which, in the reasonable judgment
                  of the Board of Directors, causes the Executive to be
                  incapable of devoting such time and energy) and has failed to
                  remedy any such action within thirty (30) days of notice to
                  such Executive by the Board of Directors of such action.

(d)      GOOD REASON. The Executive may terminate employment with the Company
         for Good Reason. For purposes of this Agreement, the term "Good Reason"
         shall mean a material adverse change in the nature or scope of the
         Executive's authorities, status, working conditions, duties or
         responsibilities, or a material reduction in salary, in benefits, or in
         bonus program inconsistent with reductions for similarly situated
         employees of the

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         Company or inconsistent with the Company's past practices. A change in
         the Executive's reporting relationships shall not constitute Good
         Reason.

(e)      TERMINATION BY EXECUTIVE. The Executive may terminate his employment
         hereunder at any time for any reason by giving the Company thirty (30)
         days prior written Notice of Termination, provided that nothing in this
         Agreement shall require the Executive to specify a reason for any such
         termination.

(f)      TERMINATION BY COMPANY. The Company may terminate the Executive's
         employment hereunder at any time for any reason, by giving the
         Executive prior written Notice of Termination, which Notice of
         Termination shall be effective immediately, or such later time as is
         specified in such notice. The Company shall not be required to specify
         a reason for the termination under this paragraph 4(f), provided that
         termination of the Executive's employment by the Company shall be
         deemed to have occurred under this paragraph 4(f) only if it is not for
         reasons described in paragraph 4(b), 4(c), 4(d), or 4(e).
         Notwithstanding the foregoing provisions of this paragraph (f), if the
         Executive's employment is terminated by the Company in accordance with
         this paragraph (f), and within a reasonable time period thereafter, it
         is determined by the Executive's Supervisor in good faith that
         circumstances existed which would have constituted a basis for
         termination of the Executive's employment for Cause (disregarding
         circumstances which could have been remedied if notice had been given
         in accordance with paragraph 4(c)(iii)), the Executive's employment
         will be deemed to have been terminated for Cause in accordance with
         paragraph 4(c).

(g)      NOTICE OF TERMINATION. Any termination of the Executive's employment by
         the Company or the Executive must be communicated by a written Notice
         of Termination to the other party hereto. A "Notice of Termination"
         shall be dated, indicate the Date of Termination (not earlier than the
         date on which the notice is provided), indicate the specific
         termination provision in this Agreement relied on, and set forth in
         reasonable detail the facts and circumstances, if any, claimed to
         provide a basis for termination of the Executive's employment.

(h)      EFFECT OF TERMINATION. If, on the Date of Termination, the Executive is
         a member of the Board of Directors of the Company or any of the
         Affiliates, or holds any other position with the Company or any of the
         Affiliates, the Executive shall resign from all such positions as of
         the Date of Termination.

         5. RIGHTS UPON TERMINATION. The Executive's rights to payment and
benefits under this Agreement for periods after his Date of Termination shall be
determined in accordance with the following provisions of this paragraph 5:

(a)      If the Executive's Date of Termination occurs during the Agreement Term
         for any reason, then:

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         (i)      The Executive shall receive his Salary from the Company for
                  the period ending on the Date of Termination.

         (ii)     The Executive shall receive any required payment for accrued
                  but unused vacation days from the Company.

         (iii)    If the Date of Termination occurs after the end of a
                  performance period and prior to the payment of the incentive
                  compensation award (as described in paragraph 3(b)) for the
                  period, the Executive shall be paid any incentive compensation
                  award at the regularly scheduled time.

         (iv)     Any other required payments or benefits to be provided to the
                  Executive by the Company.

         Except as may otherwise be expressly provided to the contrary in this
         Agreement, nothing in this Agreement shall be construed as requiring
         the Executive to be treated as employed by the Company for purposes of
         any employee benefit plan or arrangement following the date of the
         Executive's Date of Termination.

(b)      If the Executive's Date of Termination occurs during the Agreement Term
         under circumstances described in paragraph 4(a) (relating to the
         Executive's death) or paragraph 4(b) (relating to the Executive's being
         Permanently Disabled), then, in addition to the amounts payable in
         accordance with paragraph 5(a):

         (i)      The Executive (or his estate) shall receive from the Company
                  periodic payments of an amount equal to not less than twelve
                  (12) months of Salary (based on the Salary rate in effect on
                  the Date of Termination); provided, however, that such
                  payments shall be offset by the amount of any life for
                  disability insurance benefits provided by the Company or any
                  of its Affiliates as a result of the Executive's death or
                  Permanent Disability.

         (ii)     The Executive (or his estate) shall receive from the Company
                  payment of the award under the MIP for the performance period
                  in which the Date of Termination occurs, based on actual
                  performance for the entire period; provided, however, that
                  such award shall be subject to a pro-rata reduction to reflect
                  the portion of the performance period following the Date of
                  Termination. Payment under this paragraph (ii) of any amount
                  shall be made at the regularly scheduled time for payment of
                  such amounts to active employees and on a non-discriminatory
                  basis.

(c)      If the Executive's Date of Termination occurs during the Agreement Term
         under circumstances described in paragraph 4(d) (relating to
         termination by the Executive for

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         Good Reason) or paragraph 4(f) (relating to termination by the Company
         without Cause), then:

         (i)      The Executive shall receive from the Company, for the
                  Severance Period, continuing Salary payments at the Salary
                  rate in effect on the Date of Termination, in monthly or more
                  frequent installments. The "Severance Period" shall be the
                  period beginning on the Date of Termination and continuing
                  through the earliest to occur of:

                  (A) the eighteen (18) month anniversary of the Date of
                  Termination;

                  (B) the date of the Executive's death; or

                  (C) the date, if any, of the breach by the Executive of the
                  provisions of the Employee Agreement.

         (ii)     Provided that the Executive is not in actual or threatened
                  breach of any of the covenants contained in the Employee
                  Agreement, the Executive shall receive from the Company
                  payment of the award under the MIP for the performance period
                  in which the Date of Termination occurs, based on actual
                  performance for the entire period; provided, however, that
                  such award shall be subject to a pro-rata reduction to reflect
                  the portion of the performance period following the Date of
                  Termination. Payment, if any, under this paragraph (ii) of any
                  amount shall be made at the regularly scheduled time for
                  payment of such amounts to active employees, and on a
                  non-discriminatory basis.

         Notwithstanding the foregoing provisions of this paragraph 5, no
         payment will be made or benefit provided under this paragraph 5(c)
         unless (I) the Executive first executes a release in the form attached
         as Supplement A to this Agreement, and (II) to the extent any portion
         of such release is subject to the seven-day revocation period
         prescribed by the Age Discrimination in Employment Act, as amended, or
         to any similar revocation period in effect on the date of termination
         of the Executive's employment, such revocation period has expired.

(d)      If the Executive's Date of Termination occurs during the Agreement Term
         under circumstances described in paragraphs 4(c) (relating to Cause) or
         4(e) (relating to voluntary resignation), the Company shall have no
         obligation to make payments of Salary or any incentive compensation
         award or provide benefits under the Agreement for periods after the
         Executive's Date of Termination.

         6.       OTHER BENEFITS.

(a)      Except as may be otherwise specifically provided in an amendment of
         this Agreement adopted in accordance with paragraph 12, in the event of
         a termination of employment

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         during the Agreement Term, the Executive shall not be eligible to
         receive any benefits that may be otherwise payable to or on behalf
         of the Executive pursuant to the terms of any severance pay
         arrangement of the Company (or any Affiliate), including without
         limitation, the United States Can Company Executive Severance Plan
         (the "Executive Severance Plan"), or any other arrangement of the
         Company (or any Affiliate), providing benefits upon involuntary
         termination of employment.

(b)      After the Agreement Term has expired, the Executive shall be designated
         as an eligible participant in the Executive Severance Plan. The Company
         agrees that the Executive Severance Plan will not be amended or
         terminated on or after the Effective Date as to the Executive in a
         manner that would adversely affect the Executive.

         7. DUTIES ON TERMINATION.

(a)      Subject to the terms and conditions of this Agreement, during the
         period beginning on the date of delivery of a Notice of Termination,
         and ending on the Date of Termination, the Executive shall continue to
         perform his duties as set forth in this Agreement, and shall also
         perform such services for the Company as are reasonably necessary for a
         transition to the Executive's successor, if any. Notwithstanding the
         foregoing provisions of this paragraph 7, the Company may suspend the
         Executive from performing his duties under this Agreement following the
         delivery of a Notice of Termination providing for the Executive's
         resignation, or delivery by the Company of a Notice of Termination
         providing for the Executive's termination of employment for any reason;
         provided, however, that during the period of suspension (which shall
         end on the Date of Termination), the Executive shall continue to be
         treated as employed by the Company for other purposes, and his rights
         to compensation or benefits shall not be reduced by reason of the
         suspension.

(b)      Following the Date of Termination, the Executive agrees to return to
         the Company any keys, credit cards, passes, confidential documents or
         material, or other property belonging to the Company or its Affiliates,
         and to return all writings, files, records, correspondence, notebooks,
         notes and other documents and things (including any copies thereof)
         containing any trade secrets of the Company or its Affiliates. For
         purposes of the preceding sentence, the term "trade secrets" shall have
         the meaning ascribed to it under the Illinois Trade Secrets Act or, if
         such act is repealed, the Uniform Trade Secrets Act.

         8. MITIGATION AND SET-OFF. The Executive shall not be required to
mitigate the amount of any payment provided for in this Agreement by seeking
other employment or otherwise. Except as otherwise specifically provided in this
Agreement, the Company shall not be entitled to set off against the amounts
payable to the Executive under this Agreement any amounts earned by the
Executive in other employment after termination of his employment with the
Company, or any amounts which might have been earned by the Executive in other
employment had he sought such other employment.

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         9. CHANGE IN CONTROL. The Company and the Executive have agreed that,
effective as of the Effective Date of this Agreement, the Employee Agreement
shall be amended as set forth in Exhibit B to this Agreement, which is attached
to and forms a part of this Agreement. As a result, the Executive shall continue
to be subject to the restrictions in paragraphs 1(a) and 1(b) of the Employee
Agreement (relating to solicitation and competition) without regard to the
occurrence of any change in control.

         10. ASSISTANCE WITH CLAIMS. The Executive agrees that, for the period
beginning on the Effective Date, and continuing for a reasonable period after
the Executive's Date of Termination, the Executive will assist the Company and
the Affiliates in defense or prosecution of any claims that may be made by or
against the Company and the Affiliates, to the extent that such claims may
relate to services performed by the Executive for the Company or the Affiliates.
The Executive agrees to promptly inform the Company if he becomes aware of any
lawsuits involving such claims that may be filed against the Company or any
Affiliate. The Company agrees to provide legal counsel to the Executive in
connection with such assistance (to the extent legally permitted), and to
reimburse the Executive for all of the Executive's reasonable out-of- pocket
expenses associated with such assistance. The Executive also agrees to promptly
inform the Company if he is asked to assist in any investigation of the Company
or the Affiliates (or their actions) that may relate to services performed by
the Executive for the Company or the Affiliates, regardless of whether a lawsuit
has then been filed against the Company or the Affiliates with respect to such
investigation.

         11. NONALIENATION. The interests of the Executive under this Agreement
are not subject in any manner to anticipation, alienation, sale, transfer,
assignment, pledge, encumbrance, attachment, or garnishment by creditors of the
Executive or the Executive's beneficiary.

         12. AMENDMENT. This Agreement may be amended or canceled only by mutual
agreement of the parties in writing, provided that any such agreement by the
Company that includes a substantive amendment must be authorized in writing by
the Chief Executive Officer of U.S. Can. So long as the Executive lives, no
person, other than the parties hereto, shall have any rights under or interest
in this Agreement or the subject matter hereof.

         13. APPLICABLE LAW. The provisions of this Agreement shall be construed
in accordance with the laws of the State of Illinois, without regard to the
conflict of law provisions of any state.

         14. SEVERABILITY. The invalidity or unenforceability of any provision
of this Agreement will not affect the validity or enforceability of any other
provision of this Agreement, and this Agreement will be construed as if such
invalid or unenforceable provision were omitted (but only to the extent that
such provision cannot be appropriately reformed or modified).

         15. WAIVER OF BREACH. No waiver by any party hereto of a breach of any
provision of this Agreement by any other party, or of compliance with any
condition or provision of this Agreement to be performed by such other party (i)
will be effective unless in writing signed by

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such party; and (ii) will operate or be construed as a waiver of any subsequent
breach by such other party of any similar or dissimilar provisions and
conditions at the same or any prior or subsequent time. The failure of any party
hereto to take any action by reason of such breach will not deprive such party
of the right to take action at any time while such breach continues.

         16. SUCCESSORS, ASSUMPTION OF CONTRACT. This Agreement is personal to
the Executive and may not be assigned by the Executive without the written
consent of the Company. However, to the extent that rights or benefits under
this Agreement otherwise survive the Executive's death, the Executive's heirs
and estate shall succeed to such rights and benefits pursuant to the Executive's
will or the laws of descent and distribution; provided that the Executive shall
have the right at any time and from time to time, by notice delivered to the
Company, to designate or to change the beneficiary(ies) with respect to such
benefits. This Agreement shall be binding upon and inure to the benefit of the
Company and U.S. Can, as applicable, and any successor of the Company or U.S.
Can, as applicable, subject to the following:

(a)      The Company and U.S. Can, as applicable, will require any successor
         (whether direct or indirect, by purchase, merger, consolidation or
         otherwise) to all or substantially all of the business or assets of the
         Company or U.S. Can, as applicable, to expressly assume and agree to
         perform this Agreement in the same manner and to the same extent that
         the Company or U.S. Can, as applicable, would be required to perform it
         if no such succession had taken place.

(b)      If the Executive is transferred to employment with an Affiliate
         (including a successor to the Company), such transfer shall not
         constitute a termination of employment for purposes of this Agreement,
         provided that the Affiliate agrees to assume this Agreement and be
         substituted for the Company under this Agreement.

(c)      After a successor assumes this Agreement in accordance with this
         paragraph 16, only such successor shall be liable for amounts payable
         after such assumption, and no other companies shall have liability for
         amounts payable after such assumption.

         17. NOTICES. Notices and all other communications provided for in this
Agreement shall be in writing and shall be (i) delivered personally, effective
immediately, (ii) sent by certified mail, postage prepaid effective three days
after deposit, (iii) sent by facsimile transmission, effective upon confirmation
of transmission and deposit of a hard copy for delivery by regular mail, or (iv)
sent by prepaid overnight or international courier service, effective two days
after deposit, to the parties at the addresses set forth below (or such other
addresses as shall be specified by the parties by like notice); provided,
however, that in no event shall any such communications be deemed to be given
later than the date they are actually received. Communications that are to be
delivered by the U.S. mail or by overnight service are to be delivered to the
addresses set forth below:

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to the Company by mail:

         U.S. Can Corporation
         900 Commerce Drive
         Oak Brook, Illinois 60523
         Attention: General Counsel

to the Company by facsimile:

         630/572-0822

To Executive:

         at the address of the Executive as set forth in the payroll records at
the Company.

         18. ARBITRATION OF ALL DISPUTES. Any dispute as to any claim under this
Agreement (including, without limitation, disputes arising under Title VII of
the Civil Rights Act of 1964, as amended, the Civil Rights Act of 1991, and the
Age Discrimination in Employment Act) shall be settled by arbitration in
Chicago, Illinois by an arbitrator, who shall be appointed pursuant to the rules
of the American Arbitration Association. The arbitration shall be conducted
promptly and expeditiously in accordance with the National Rules for Resolution
of Employment Disputes of American Arbitration Association. Any award issued as
a result of such arbitration shall be final and binding on the parties, and
judgment upon the award rendered by the arbitrators may be entered in any court
having jurisdiction thereof; provided, however, that any award issued as a
result of arbitration shall be reviewable de novo by a court of competent
jurisdiction for errors of law. Notwithstanding the foregoing, the parties
hereto shall not be entitled to, and no award shall include in whole or in part,
punitive damages or exemplary damages.

         19. LEGAL AND ENFORCEMENT COSTS. The provisions of this paragraph 19
shall apply if it becomes reasonably necessary for the Executive to retain legal
counsel or incur other costs and expenses in connection with either enforcing
any right(s) under this Agreement or defending against any allegations of breach
of this Agreement by the Company or U.S. Can:

(a)      The Executive shall be entitled to recover from the Company reasonable
         attorneys' fees, costs and expenses incurred by him in connection with
         such enforcement or defense.

(b)      Payments required under this paragraph 19 shall be made by the Company
         to the Executive (or directly to the Executive's attorney) promptly
         following submission to the Company of appropriate documentation
         evidencing the incurrence of such attorneys' fees, costs, and expenses.

                                      -12-
<PAGE>

(c)      The Executive shall be entitled to select his legal counsel; provided,
         however, that such right of selection shall not affect the requirement
         that any costs and expenses reimbursable under this paragraph 19 be
         reasonable.

(d)      The Executive's rights to payments under this paragraph 19 shall not be
         affected by the final outcome of any dispute with the Company or U.S.
         Can; provided, however, that to the extent that the arbitrators shall
         determine that under the circumstances recovery by the Executive of all
         or a part of any such fees and costs and expenses would be unjust, the
         Executive shall not be entitled to such recovery; and to the extent
         that such amount have been recovered by the Executive previously, the
         Executive shall promptly repay such amounts to the Company.

         20. SURVIVAL OF AGREEMENT. Except as otherwise expressly provided in
this Agreement, the rights and obligations of the parties to this Agreement
shall survive the termination of the Executive's employment with the Company.

         21. ENTIRE AGREEMENT. Except as otherwise provided herein:

(a)      This Agreement constitutes the entire agreement between the parties
         concerning the subject matter hereof.

(b)      This Agreement supersedes all prior or contemporaneous agreements, if
         any, between the parties relating to the subject matter hereof
         (including, without limitation, the Prior Employment Agreement and the
         Prior Change in Control Agreement), and the Prior Employment Agreement
         and the Prior Change in Control Agreement shall be without effect on
         and after the Effective Date of this Agreement.

(c)      Notwithstanding the foregoing, but subject to paragraph (d) below,
         nothing in this Agreement shall be construed to limit any Company
         policy or agreement that is otherwise applicable relating to compliance
         with laws or the Employee Agreement.

(d)      The Employee Agreement shall continue in effect, subject to the terms
         of paragraph 9 of this Agreement.

         22. COUNTERPARTS. This Agreement may be executed in two or more
counterparts, any one of which shall be deemed the original without reference to
the others.

                                      -13-
<PAGE>

         IN WITNESS WHEREOF, the Executive has hereunto set his hand, and the
Company and U.S. Can have caused these presents to be executed in their names
and on their behalf, all as of the Effective Date.

                                     /s/ Thomas A. Scrimo
                             --------------------------------------
                                         Thomas A. Scrimo

                                   U.S. Can Corporation

                            By /s/ Paul W. Jones
                               ------------------------------------

                                Its Chairman, President and
                                    Chief Executive Officer
                                    -------------------------------

                                   United States Can Company

                            By /s/ Paul W. Jones
                               ------------------------------------

                                Its Chairman, President and
                                    Chief Executive Officer
                                    -------------------------------

                                       -14-
<PAGE>

                                  Supplement A
                                RELEASE OF CLAIMS

         1. This document is attached to, is incorporated into, and forms a part
of, an agreement (the "Agreement") by and between United States Can Company (the
"Company") and Thomas A. Scrimo (the "Executive"). The Executive, on behalf of
himself and the other Executive Releasors, releases and forever discharges the
Company and the other Company Releasees from any and all Claims which the
Executive now has or claims, or might hereafter have or claim (or the other
Executive Releasors may have, to the extent that it is derived from a Claim
which the Executive may have), against the Company Releasees based upon or
arising out of any matter or thing whatsoever, occurring or arising on or before
the date of this Release of Claims, to the extent that the Claim arises out of
or relates to the Executive's employment by the Company and its Affiliates
(including his service as a director of the Company and its Affiliates) and/or
the Executive's termination or resignation therefrom, and shall include, without
limitation, Claims arising out of or related to the Agreement, and Claims
arising under any local, state, or federal law dealing with employment
discrimination, including the Age Discrimination in Employment Act as amended by
the Older Workers Benefit Protection Act.

         For purposes of this Release of Claims, the terms set forth below shall
have the following meanings:

(a)      The term "Agreement" shall include the Agreement and this Supplement,
         and including the plans and arrangements under which the Executive is
         entitled to benefits in accordance with the Agreement.

(b)      The term "Claims" shall include any and all rights, claims, demands,
         debts, dues, sums of money, accounts, attorneys' fees, complaints,
         judgments, executions, actions and causes of action of any nature
         whatsoever, cognizable at law or equity.

(c)      The term "Company Releasees" shall include the Company and its
         Affiliates (as defined in the Agreement), and their officers,
         directors, trustees, members, representatives, agents, employees,
         shareholders, partners, attorneys, and insurers, and their predecessors
         and successors.

(d)      The term "Executive Releasors" shall include the Executive, and his
         heirs, representatives, agents, insurers, and any other person claiming
         through the Executive.

         2.  The following provisions are applicable to and made a part of this
         Release of Claims:

(a)      By this Release of Claims, the Executive Releasors do not release or
         waive any right or claim which they may have under the Age
         Discrimination in Employment Act, as amended by the Older Workers
         Benefit Protection Act, which arises after the date of execution of
         this Release of Claims.

                                      -15-
<PAGE>

(b)      In exchange for this Release of Claims, the Executive hereby
         acknowledges that he has received separate consideration beyond that to
         which he is otherwise entitled under the Company's policy or applicable
         law.

(c)      The Company hereby expressly advises the Executive to consult with an
         attorney of his choosing prior to executing this Release of Claims.

(d)      The Executive has twenty-one (21) days from the date of presentment to
         consider whether or not to execute this Release of Claims. In the event
         of such execution, the Executive has a further period of seven (7) days
         from the date of said execution in which to revoke said execution. This
         Release of Claims will not become effective until expiration of such
         revocation period.

(e)      This Release of Claims and the commitments and obligations of all
         parties thereunder:

         (i) shall become final and binding immediately following the expiration
         of the Executive's right to revoke the execution of this release in
         accordance with paragraph 2(d) of this Release of Claims;

         (ii) shall not become final and binding until the expiration of such
         right to revoke; and

         (iii) shall not become final and binding if the Executive revokes such
         execution.

         3. The Executive hereby acknowledges that he has carefully read and
understands the terms this Release of Claims and each of his rights as set forth
therein.

                                              /s/ Thomas A. Scrimo
                                           -----------------------------
                                                  Thomas A. Scrimo

                                     Date: 10/2/00
                                           -----------------------------

State of
         -----------------------
County of
          ----------------------

Subscribed Before Me This
____ Day of _________, _______.

---------------------------------
         Notary Public

                                      -16-
<PAGE>

                                  Supplement B
                         AMENDMENT OF EMPLOYEE AGREEMENT

         This document is attached to, is incorporated into, and forms a part
of, an agreement (the "Agreement") made and entered into ____________, 2000 (the
"Effective Date"), by and among Thomas A. Scrimo, United States Can Company, and
U.S. Can Corporation. The Employee Agreement (as defined in the Agreement) is
hereby amended effective as of the Effective Date by substituting the following
for all of paragraph 2 thereof:

         "2. Reserved."

                                      -17-<PAGE>

                                                                Exhibit 10.24

                              U.S. CAN CORPORATION
                           2000 EQUITY INCENTIVE PLAN

1.         PURPOSE.

           The purpose of this Equity Incentive Plan (the "Plan") is to advance
the interests of U.S. Can Corporation, a Delaware corporation (the "Company"),
by enhancing the ability of the Company and its subsidiaries to attract and
retain able employees, consultants or advisers; to reward such individuals for
their contributions; and to encourage such individuals to take into account the
long-term interests of the Company and its subsidiaries through interests in
shares of the Company's Common Stock, $.01 par value per share (the "Stock").
Any employee, consultant, or adviser selected to receive an award under the Plan
is referred to as a "participant."

           Options granted pursuant to the Plan may be incentive stock options
as defined in section 422 of the Internal Revenue Code of 1986 (as from time to
time amended, the "Code") (any option that is intended so to qualify as an
incentive stock option being referred to herein as an "incentive option"), or
options that are not incentive options, or both. Except as otherwise expressly
provided with respect to an option grant, no option granted pursuant to the Plan
shall be an incentive option.

2.         ADMINISTRATION.

           The Plan shall be administered by the Board of Directors (the
"Board") of the Company. The Board shall have discretionary authority, not
inconsistent with the express provisions of the Plan, (a) to grant option awards
to such eligible persons as the Board may select; (b) to determine the time or
times when awards shall be granted and the number of shares of Stock subject to
each award; (c) to determine which options are, and which options are not,
intended to be incentive options; (d) to determine the terms and conditions of
each award; (e) to prescribe the form or forms of any instruments evidencing
awards and any other instruments required under the Plan and to change such
forms from time to time; (f) to adopt, amend, and rescind rules and regulations
for the administration of the Plan; and (g) to interpret the Plan and to decide
any questions and settle all controversies and disputes that may arise in
connection with the Plan. Such determinations of the Board shall be conclusive
and shall bind all parties. Subject to Section 9, the Board shall also have the
authority, both generally and in particular instances, to waive compliance by a
participant with any obligation to be performed by him or her under an award, to
waive any condition or provision of an award, and to amend or cancel any award
(and if an award is canceled, to grant a new award on such terms as the Board
shall specify), except that the Board may not take any action with respect to an
outstanding award that would adversely affect the rights of the participant
under such award without such participant's consent. Nothing in the preceding
sentence shall be construed as limiting the power of the Board to make
adjustments required by Section 4(c) and Section 6(g).

<PAGE>

           The Board may, in its discretion, delegate some or all of its powers
with respect to the Plan to a committee (the "Committee"), in which event all
references (as appropriate) to the Board hereunder shall be deemed to refer to
the Committee. The Committee, if one is appointed, shall consist of at least two
directors. A majority of the members of the Committee shall constitute a quorum,
and all determinations of the Committee shall be made by a majority of its
members. Any determination of the Committee under the Plan may be made without
notice or meeting of the Committee by a writing signed by all of the Committee
members.

3.         EFFECTIVE DATE AND TERM OF THE PLAN.

           The Plan shall become effective on the date on which it is approved
by the stockholders of the Company. Grants of awards under the Plan may be made
prior to that date (but after Board adoption of the Plan), subject to approval
of the Plan by the stockholders.

           No awards shall be granted under the Plan after the completion of ten
years from the date on which the Plan was adopted by the Board, but awards
previously granted may extend beyond that date.

4.         SHARES SUBJECT TO THE PLAN.

           (a) NUMBER OF SHARES. Subject to adjustment as provided in Section
4(c), the aggregate number of shares of Stock that may be the subject of
awards granted under the Plan (after giving effect to the 20 for 1 stock
split effective on October 4, 2000) shall be 3,253,761, of which 2,461,542
shares shall be allocated to options which shall be time-vested and 792,219
shares shall be allocated to options which shall vest based on the attainment
of performance goals determined by the Board, in each case as specified in
the certificate evidencing the grant of such options. If any award granted
under the Plan terminates without having been exercised in full, the number
of shares of Stock as to which such award was not exercised shall be
available for future grants.

           (b) SHARES TO BE DELIVERED. Shares delivered under the Plan shall
be authorized but unissued Stock, or if the Board so decides in its sole
discretion, previously issued Stock acquired by the Company and held in its
treasury. No fractional shares of Stock shall be delivered under the Plan.

           (c) CHANGES IN STOCK. In the event of a stock dividend, stock
split or combination of shares, recapitalization, or other change in the
Company's capital stock, the number and kind of shares of Stock or securities
of the Company subject to awards then outstanding or subsequently granted
under the Plan, the exercise price of such awards, the maximum number of
shares of Stock or securities that may be delivered under the Plan, and other
relevant provisions shall be appropriately adjusted by the Board, whose
determination shall be binding on all persons.

                                      -2-
<PAGE>

           The Board may also adjust the number of shares subject to outstanding
awards, the exercise price of outstanding awards, and the terms of outstanding
awards, to take into consideration material changes in accounting practices or
principles, extraordinary dividends, consolidations or mergers (except those
described in Section 6(g)), acquisitions or dispositions of stock or property,
or any other event if it is determined by the Board that such adjustment is
appropriate to avoid distortion in the operation of the Plan; PROVIDED, that no
such adjustment shall be made in the case of an incentive option, without the
consent of the participant, if it would constitute a modification, extension, or
renewal of the option within the meaning of section 424(h) of the Code.

5.         AWARDS; ETC.

           Persons eligible to receive awards under the Plan shall be all
directors, including directors who are not employees, of the Company, all
executive officers of the Company and its subsidiaries and other employees,
consultants and advisers who, in the opinion of the Board, are in a position to
make a significant contribution to the success of the Company and its
subsidiaries. A subsidiary for purposes of the Plan shall be a corporation in
which the Company owns, directly or indirectly, stock possessing 50% or more of
the total combined voting power of all classes of stock.

           Incentive options shall be granted only to "employees" as defined in
the provisions of the Code or regulations thereunder applicable to incentive
stock options.

6.         TERMS AND CONDITIONS OF OPTIONS.

           (a) EXERCISE PRICE OF OPTIONS. The exercise price of each option
shall be determined by the Board, but in the case of an incentive option
shall not be less than 100% (110%, in the case of an incentive option granted
to a ten-percent stockholder) of the fair market value of the Stock at the
time the option is granted; nor shall the exercise price be less, in the case
of an original issue of authorized stock, than par value. For this purpose,
"fair market value" in the case of incentive options shall have the same
meaning as it does in the provisions of the Code and the regulations
thereunder applicable to incentive options; and "ten-percent stockholder"
shall mean any participant who at the time of grant owns directly, or by
reason of the attribution rules set forth in section 424(d) of the Code is
deemed to own, stock possessing more than 10% of the total combined voting
power of all classes of stock of the Company or of any of its parent or
subsidiary corporations.

           (b) DURATION OF OPTIONS. An option shall be exercisable during
such period or periods as the Board may specify. The latest date on which an
option may be exercised (the "Expiration Date") shall be the date which is
ten years (five years, in the case of an incentive option granted to a
ten-percent stockholder as defined in clause (a) above), from the date the
option was granted or such earlier date as may be specified by the Board at
the time the option is granted, or in the case of any performance options
issued by the Company under the Plan, 45 days following the date it is
determined whether such performance options have been earned solely if such
date

                                      -3-
<PAGE>

occurs after such ten-year period.

           (c) Exercise of Options.

                  (i)   An option shall become exercisable at such time or times
and upon such conditions as the Board shall specify. In the case of an option
not immediately exercisable in full, the Board may at any time accelerate the
time at which all or any part of the option may be exercised.

                  (ii)  Any exercise of an option shall be in writing, signed by
the proper person and furnished to the Company, accompanied by (A) such
documents as the Board may require and (B) payment in full as specified below in
Section 6(d) for the number of shares of Stock for which the option is
exercised.

                  (iii) The Board shall have the right to require that the
participant exercising the option remit to the Company an amount sufficient to
satisfy any federal, state or local withholding tax requirements (or make other
arrangements satisfactory to the Company with regard to such taxes) prior to the
delivery of any Stock pursuant to the exercise of the option. If permitted by
the Board, either at the time of the grant of the option or in connection with
its exercise, the participant may elect, at such time and in such manner as the
Board may prescribe, to satisfy such withholding obligation by (A) delivering to
the Company Stock (which in the case of Stock acquired from the Company shall
have been owned by the participant for at least six months prior to the delivery
date) having a fair market value equal to such withholding obligation, or (B)
requesting that the Company withhold from the shares of Stock to be delivered
upon the exercise a number of shares of Stock having a fair market value equal
to such withholding obligation.

                  In the case of an incentive option, the Board may require as a
condition of exercise that the participant exercising the option agree to inform
the Company promptly of any disposition (within the meaning of section 424(c) of
the Code and the regulations thereunder) of Stock received upon exercise. In
addition, if at the time the option is exercised the Board determines that under
applicable law and regulations the Company could be liable for the withholding
of any federal or state tax with respect to a disposition of the Stock received
upon exercise, the Board may require as a condition of exercise that the
participant exercising the option agree to give such security as the Board deems
adequate to meet the potential liability of the Company for the withholding of
tax, and to augment such security from time to time in any amount reasonably
deemed necessary by the Board to preserve the adequacy of such security.

                  (iv)  If an option is exercised by the executor or
administrator of a deceased participant, or by the person or persons to whom the
option has been transferred by the participant's will or the applicable laws of
descent and distribution, the Company shall be under no obligation to deliver
Stock pursuant to such exercise until the Company is

                                      -4-
<PAGE>

satisfied as to the authority of the person or persons exercising the option.

           (d) PAYMENT FOR AND DELIVERY OF STOCK. Stock purchased upon
exercise of an option under the Plan shall be paid for as follows: (i) in
cash, check acceptable to the Company (determined in accordance with such
guidelines as the Board may prescribe) or money order payable to the order of
the Company, or (ii) if so permitted by the Board (which, in the case of an
incentive option, shall specify such method of payment at the time of grant),
(A) through the delivery of shares of Stock (which in the case of Stock
acquired from the Company shall have been held for at least six months)
having a fair market value on the last business day preceding the date of
exercise equal to the purchase price, (B) by delivery of an unconditional and
irrevocable undertaking by a broker to deliver promptly to the Company
sufficient funds to pay the exercise price, (C) by delivery of a promissory
note of the participant to the Company, such note to be payable on such terms
as are specified by the Board, or (D) by any combination of the permissible
forms of payment; PROVIDED, that if the Stock delivered upon exercise of the
option is an original issue of authorized Stock, at least so much of the
exercise price as represents the par value of such Stock shall be paid other
than with a personal check or promissory note of the person exercising the
option.

           (e) DELIVERY OF STOCK. A participant shall not have the rights of
a stockholder with regard to awards under the Plan except as to Stock
actually received by him or her under the Plan.

           The Company shall not be obligated to deliver any shares of Stock (i)
until, in the opinion of the Company's counsel, all applicable federal and state
laws and regulations have been complied with, (ii) if the outstanding Stock is
at the time listed on any stock exchange, until the shares to be delivered have
been listed or authorized to be listed on such exchange upon official notice of
issuance and (iii) until all other legal matters in connection with the issuance
and delivery of such shares have been approved by the Company's counsel. Without
limiting the generality of the foregoing, if the sale of Stock has not been
registered under the Securities Act of 1933, as amended, the Company may
require, as a condition to exercise of the award, such representations or
agreements as counsel for the Company may consider appropriate to avoid
violation of such Act and may require that the certificates evidencing such
Stock bear an appropriate legend restricting transfer.

           (f) NONTRANSFERABILITY OF AWARDS. No award may be transferred
other than by will or by the laws of descent and distribution, and during a
participant's lifetime an award may be exercised only by him or her.

           (g) MERGERS, ETC. Except as otherwise provided at the time of and
in the grant, in the event that (I) (x) any person or entity who is not an
affiliate (as such term is defined in the Securities Exchange Act of 1934, as
amended, PROVIDED, that for purposes of this Section 6(g), it is understood
and agreed that as of the date of the adoption of this Plan, the only
stockholders of the Company which constitute affiliates of the Company are
Berkshire Fund V Investment Corp., Berkshire Fund V Coinvestment Corp. and
Berkshire Investors LLC) of the Company, or any

                                      -5-
<PAGE>

two or more such persons or entities acting as a group, and all affiliates of
such person or entity or persons or entities, who prior to such time owned no
Stock or Stock representing less than fifty percent (50%) of the voting power
at elections for the Board, shall (A) acquire, whether by purchase, exchange,
tender offer, merger, consolidation, recapitalization or otherwise, or (B)
otherwise be the owner of (as a result of a redemption of Stock or
otherwise), Stock (or shares in a successor corporation by merger,
consolidation or otherwise) such that following such transaction or
transactions, such person or group and their respective affiliates
beneficially own fifty percent (50%) or more of the voting power at elections
for the board of directors of the Company or any successor, or (y) there is a
sale or transfer of all or substantially all the Company's or United States
Can Company's assets and following such sale or transfer, there is a
liquidation of the Company, and (II) there has been, or upon consummation of
the transactions contemplated by (x) or (y) of clause (I) there will be, a
determination of whether any performance options issued under the Plan have
been earned (collectively, a "covered transaction"), the following rules
shall apply:

                  (i) Each participant will be given notice by the Company of
         the covered transaction including notice that all outstanding awards
         exercisable either prior to or upon consummation of the covered
         transaction will cease to be exercisable after the covered transaction
         (provided the Board shall provide for a reasonable period of time
         during which such participant may exercise any exercisable awards), and
         all other awards to the extent not exercisable prior to or upon
         consummation of the covered transaction will be forfeited, as of the
         effective time of the covered transaction, provided that the Board of
         Directors (A) may in its sole discretion on or prior to the effective
         date of the covered transaction take any or all of the following
         actions: (1) make any outstanding option exercisable in full and (2)
         remove any performance or other conditions or restrictions on any
         award, and (B) shall, subject to the provisions of clause (ii) below,
         make or provide for a cash payment to the participant equal to the
         difference between (a) the fair market value of the Stock times the
         number of shares of Stock subject to outstanding awards (to the extent
         exercisable prior to or upon such effective date at prices not in
         excess of the fair market value) and (b) the aggregate exercise price
         of all such outstanding awards in exchange for the termination of such
         awards.

                  (ii) With respect to an outstanding award held by a
         participant who, following the covered transaction, will be employed by
         or otherwise providing services to an entity which is a surviving or
         acquiring entity in the covered transaction or an affiliate of such an
         entity, the Board of Directors may at or prior to the effective time of
         the covered transaction, in its sole discretion and in lieu of the
         action described in paragraph (i)(B) above and after each participant
         is given notice of the covered transaction (and the Board provides for
         a reasonable period of time during which such participant may exercise
         any exercisable awards), (A) arrange to have such surviving or
         acquiring entity or affiliate continue or assume any award held by such
         participant outstanding hereunder or (B) grant a replacement award
         which, in the judgment of the Board of Directors, is substantially
         equivalent to any outstanding award being replaced.

                                      -6-
<PAGE>

         (h) TAKE ALONG. In the event that any holder of Stock is required to
sell or vote any Stock pursuant to Section 2.4 of the Stockholders Agreement
dated as of October 4, 2000 (as amended from time to time the "Stockholders
Agreement"), by and among the Company and the Stockholders party thereto (a
"take along") then (i) with respect to all outstanding options that are
exercisable prior to the take along and all outstanding options that become
exercisable upon consummation of the take along, in either case that are not
taken along pursuant to Section 2.4 of the Stockholders Agreement, the Board of
Directors, in its sole discretion, may make or provide for a cash payment to the
participant upon consummation of the take along equal to the difference between
(A) the fair market value of the Stock times the number of shares of Stock
subject to outstanding awards (to the extent exercisable prior to or upon such
consummation at prices not in excess of the fair market value) and (B) the
aggregate exercise price of all such outstanding awards, in exchange for the
termination of such awards, and (ii) all outstanding options that are not
exercisable shall terminate upon the consummation of the take along.

7.         TERMINATION OF EMPLOYMENT.

           In the case of any award, the Board may, through agreement with the
participant (including without limitation, any Stockholders Agreement of the
Company to which the participant is a party), resolution, or otherwise, provide
for post-termination exercise provisions different from those expressly set
forth in this Section 7, including without limitation the vesting immediately
prior to termination of all or any portion of an option not otherwise vested
prior to termination, and terms allowing a later exercise by a former employee,
consultant or advisor (or, in the case of a former employee, consultant or
advisor who is deceased, the person or persons to whom the award is transferred
by will or the laws of descent and distribution) as to all or any portion of the
award not exercisable immediately prior to termination of employment or other
service, but in no case may an award be exercised after the Expiration Date. If
the Board does not otherwise provide for such provisions and if a participant's
employment or other service relationship with the Company and its subsidiaries
terminates prior to the Expiration Date (including by reason of death) the
following shall apply:

           (a) Options that are not vested immediately prior to or upon the
termination shall automatically terminate upon termination. The Board may in its
sole discretion provide that, with respect to each share of Stock to which an
exercisable option relates, the participant or beneficiary receive in cash, the
excess of (i) such share's fair market value on the date of the participant's
termination, over (ii) the option exercise price.

           (b) To the extent vested immediately prior to or upon termination of
employment or other service, the option shall continue to be vested and shall be
exercisable thereafter during the period prior to the Expiration Date for the
following periods of time: (i) in the case of exercisable time-vested or
performance-vested options, within 105 days following such termination, and (ii)
in the case of performance-vested options for which it has not been determined
at the time of termination of employment or other service whether or not such
options will be earned in accordance with the terms of the option certificate
evidencing the grant of such options, within

                                      -7-
<PAGE>

45 days following the date it is determined whether the options are earned or
not in accordance with the terms of the option certificate evidencing the
grant of such options; PROVIDED, HOWEVER, that if the participant's
employment or other service is terminated "for cause" as defined in
subsection (c) below, all awards shall terminate immediately. Except as
otherwise provided in an award, after completion of such exercise period,
such awards shall terminate to the extent not previously exercised, expired
or terminated.

         (c) For purposes of the foregoing, termination for "cause" shall mean
that any one or more of the following has occurred:

                  (i) the participant shall have committed a felony;

                  (ii) the participant shall have breached in any material
         respect any non-competition provisions of any written agreement between
         the participant and the Company or any of its affiliates;

                  (iii) the participant shall have openly disregarded his
         responsibilities to the Company and/or its affiliates and shall have
         refused to devote substantial time and energy to the business and
         affairs of the Company and/or its affiliates (other than due to
         permanent disability (within the meaning of Section 22(e)(3) of the
         Code) or temporary disability which, in the reasonable judgment of the
         Board, causes the participant to be incapable of devoting such time and
         energy), and has failed to remedy any such action within thirty (30)
         days of notice to such participant by the Board of such action.

No option shall be exercised or surrendered in exchange for a cash payment after
the Expiration Date.

8.         EMPLOYMENT RIGHTS.

           Neither the adoption of the Plan nor the grant of awards shall confer
upon any participant any right to continue as an employee of, or consultant or
adviser to, the Company or any subsidiary or affect in any way the right of the
Company or a subsidiary to terminate the participant's relationship at any time.
Except as specifically provided by the Board in any particular case, the loss of
future profit in awards granted under this Plan shall not constitute an element
of damages in the event of termination of the relationship of a participant,
even if the termination of the relationship is in violation of an obligation of
the Company to the participant by contract or otherwise.

9.         EFFECT, DISCONTINUANCE, CANCELLATION, AMENDMENT AND TERMINATION.

           Neither adoption of the Plan nor the grant of awards to a participant
shall affect the Company's right to make awards to such participant that are not
subject to the Plan, to issue to

                                      -8-
<PAGE>

such participant Stock as a bonus or otherwise or to adopt other plans or
arrangements under which Stock may be issued.

           The Board may at any time discontinue granting awards under the Plan.
With the consent of the participant, the Board may at any time cancel an
existing award in whole or in part and grant another award for such number of
shares as the Board specifies. The Board may at any time or times amend the Plan
or any outstanding award for the purpose of satisfying the requirements of
section 422 of the Code or any changes in applicable laws or regulations or for
any other purpose that may at the time be permitted by law, or may at any time
terminate the Plan as to any further grants of awards; PROVIDED, that except to
the extent expressly required by the Plan, no such amendment shall adversely
affect the rights of any participant (without his or her consent) under any
award previously granted, nor shall such amendment, without the approval of the
stockholders of the Company, effectuate a change for which stockholder approval
is required in order for the Plan to continue to qualify for the award of
incentive stock options under Section 422 of the Code.

                                      -9-

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